After the Blanket Ban on Crypto, Chinese authorities are now targeting the NFT space. The latest development saw the authorities limiting the Non-Fungible Tokens (NFTs) to mere digital collectibles, i.e., they cannot be traded for-profit anymore, levying a ban on NFTs as part of the decentralized business. Moreover, authorities have also interviewed eminent Internet companies to ensure that NFTs are not being used for anything other than virtual collectibles.