数字藏品

数字藏品 is China's regulator-approved alternative to NFTs. Issued on permissioned consortium chains (蚂蚁链 Antchain, 至信链 Zhixin), each piece is bought at a fixed price, registered to your real-name account, and (officially) cannot be resold for profit — secondary trading is banned to prevent speculation. Major issuers: 鲸探 (Whale Talk, Alibaba), 幻核 (Magic Core, Tencent — shut down 2022).

Avoid translating as 'NFT' without context — Chinese state media deliberately avoid the English term. Officially these are NOT NFTs because they lack the open secondary market and crypto-currency layer.