On June 8, 2023, Xintai Art, a digital art platform under Global Broadcasting Media Group, officially made its inaugural launch. This state-owned cultural and media enterprise's grand entrance into the digital collection market has once again injected fresh vigour into the domestic digital collection industry.
In 2022, media corporations such as People's Daily, Xinhua Net, CCTV.com, Guangming Daily, and Phoenix Network, all ambitiously ventured into the digital collection sector, fostering a flourishing landscape in the domestic digital collection industry.
As a nascent digital collection platform under Global Broadcasting Media Group, Xintai Art is a new generation digital art and cultural community, designed and operated by a subsidiary of the group. Capitalizing on the group's abundant cultural and media resources and scarce licensing assets, Xintai Art is dedicated to the impeccable fusion of technology and art, providing artists, collectors, and art enthusiasts with a unique and innovative digital art and immersive cultural experience.
Being the highly anticipated platform recently launched, the official launch attracted the attention of a significant number of enthusiasts within the industry. I conducted a profound investigation into Xintai Art, and indeed, Xintai Art has demonstrated significant innovation in aspects such as platform background, blockchain selection, IPFS storage, and compliant transactions. The following content is presented for reference for the collectors:
- State-Owned Control.
Xintai Art belongs to Global Broadcasting Media Group. The latter is originally the media group controlled by China Radio International (CRI) and China International Broadcasting Network (CIBN), tasked with the construction of a modern and new type of international media group. Based on the operable resources in the media and cultural sectors under the international broadcasting station, Global Broadcasting Media Group engages in the integration, investment development, and management of media resources. The group has more than 200 subsidiaries and branches in total and controls five listed companies. It possesses the scarce resources necessary for the operation of radio, television, and media, as well as scarce licenses such as Internet TV licenses, mobile TV licenses, TV shopping licenses, Internet news licenses, Internet audio-visual licenses, and audio-visual production licenses.
For all the scarce licenses needed to operate digital collection businesses domestically, Xintai Art can directly or indirectly obtain authorization through Global Broadcasting Media Group. This is a rare innate advantage of media groups under the state-owned background.
- China Digital Culture Chain.
As per relevant reports, the China Digital Culture Chain is a national alliance chain specifically designed for China's digital collection industry by China Digital Culture Group in collaboration with China Unicom. Under the auspices of the Ministry of Culture of China, it is participated in by various official institutions including China Digital Culture Group, China Unicom, China Cultural Relics Exchange Center, Dayou International Holdings Limited, and Beijing Cultural Investment Group. It possesses technical characteristics such as distributed accounting, smart contracts, immutability, and traceability. It has the capacity for digital collection certification, creating unique digital identities for digital collections. It enables tracing of critical information such as circulation records, copyright ownership, exhibition history of collections, with all information open and transparent, verifiable, thereby protecting the legal rights and interests of the collection owners and copyright holders, enhancing the value circulation, value discovery, and value preservation capabilities of the collection itself.
Reportedly, Guoguang Xintai Technology (Beijing) Co., Ltd., the main company behind the Xintai Art platform, has signed a cooperation agreement with the China Digital Culture Chain. As the first compliant digital collection platform in the country to connect to the China Digital Culture Chain, it is indeed worth looking forward to.
- IPFS Digital Collection Preservation Services.
Most domestic digital collection platforms employ centralized storage, such as Tencent Cloud and Alibaba Cloud. The use of centralized storage means that if there is an anomaly in the platform server's access, your digital assets will no longer be accessible and face the predicament of being lost forever. IPFS is a protocol designed to create persistent and decentralized storage and file sharing. It is a content-addressable, peer-to-peer hypermedia distribution protocol. Nodes in the IPFS network will constitute a distributed file system. Digital collections stored in the IPFS distributed file system truly belong to the users, regardless of whether the platform server storage crashes or not, your digital art content will not be lost.
Xintai Art's innovative use of IPFS storage to preserve users' digital collections and digital assets to the maximum extent is a significant innovative attempt in the industry.
- Compliant Circulation in Cooperation with the Cultural Exchange
In principle, domestic digital collection transactions belong to cultural assets and cultural copyright transactions. According to the relevant requirements of national supervision, compliant circulation and trading through cultural exchanges is the optimal choice in line with domestic regulatory policies. Guoguang Xintai has reached cooperation with multiple cultural exchanges and will promote a more compliant, safe digital asset trading platform and ecosystem through cultural exchanges, truly injecting new vitality into China's digital collections and digital culture industry.
- Entrance of Top Domestic Planning Teams
A superior digital collection platform requires not only substantial strength and background endorsement, all compliant licenses needed for domestic digital collection industry operation, strong IP planning and operational capacity, and an autonomous and controllable technical team, but also the support of an excellent planning team. According to information I gathered, Xintai Art has reached cooperation with top domestic planning "MSJ" and its team. Recently, WeChat screenshots revealed by some users within the industry show that Xintai Art's initial group has gathered many well-known communities, big users, and KOLs from the industry, and the initial release is by whitelist invitation.
With many favorable factors, the support of top planning teams and communities, coupled with Xintai Art's robust platform strength and long-term layout, it is believed that in the golden June, it will surely bring more exciting news to the domestic digital collection circle.