China Daily, a newspaper in the English language that is owned by the Publicity Department of the Chinese Communist Party, has announced its plans to create its own metaverse and non-fungible tokens (NFTs) platform.

The newspaper is offering a prize of CNY2.813 million or $390,000 to a third-party contractor who can develop this platform.

Contractors must have the capability to handle more than 10,000 transactions per second on their blockchain company's main network.

The platform's objective is said to be enhancing the influence of Chinese Civilization by utilizing technologies such as the metaverse, virtual reality, augmented reality, and blockchain.

Developers have specified that the platform should allow for the uploading, displaying, and management of digital collections in various forms and types. Additionally, it should incorporate features such as pricing, bidding, limited-time functions, and support for multiple currency settlements.

The deadline for contractors to submit their applications and design proposals for the platform is October 17, with a projected completion timeframe of three months.