China will launch a state-backed blockchain to support NFTs, according to the South China Morning Post. Despite its ban on crypto transactions last year, Beijing is signaling it wants to capitalize on the surging NFT market. Multiple Chinese tech companies are supporting the new blockchain, which will be closely monitored by authorities. Sign up here for our daily newsletter, 10 Things Before the Opening Bell . China's state-backed Blockchain Services Network (BSN) is set to launch new infrastructure to support non-fungible tokens, kickstarting a Chinese NFT market that is not linked to cryptocurrencies, the South China Morning Post reported. The...