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Time-Travelling Currency: World’s First Chinese Banknote NFT Series Launched

Time-Travelling Currency: World’s First Chinese Banknote NFT Series Launched
Representative image: An old Chinese paper banknote , Photo Credit: Shutterstock
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The NFT notes pay homage to 10 significant eras in Chinese history and culture

Saptak Choudhury
December 01 , 2021
04 Min Read

Rarely does a story come full circle, or history repeat itself, more beautifully and fittingly than this.

Banking on their two significant inventions - papermaking and printing - the Chinese developed, arguably, the world’s first currency in the 7th century during the time of the Tang dynasty. It was only six centuries later that Europe developed its own paper money, largely owing to the discoveries of explorers such as Marco Polo who brought the knowledge of many technologies of the Orient to the West.

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And now, in the 21st century, China has scored another first when it comes to currencies. IZBLU Labs, a digital arts hub that promotes Chinese heritage and culture through blockchain technology, launched the Time Travel X Banknote NFT series - a project that brings to life authentic and antique, rare Chinese banknotes from the country’s past - in September 2021. Each animated NFT note is beautifully designed, replete with Chinese mottos, symbols, landmarks and period-specific imagery that offer one a glimpse into China’s rich history and culture.

 
 
 
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A post shared by BOAX NFT Marketplace (@boaxnft)

 
 
 
View this post on Instagram

A post shared by BOAX NFT Marketplace (@boaxnft)

For this project, IZBLU Labs selected the most representative periods from the country’s history. The animated notes have all been developed from the precious, authenticated banknotes in the collection of well-known collector Norman Lin. The following 10 notes have been released as NFTs in the first series:

  • The first edition of the 10 Yuan issued by the Bank of Anhui Provincial Government,1925
  • The first edition of the 10 Yuan issued by the National Commercial Bank of China, 1923
  • The first edition of the 1 Yuan issued by Bank of China, 1909
  • The first edition of 500 Cents issued by the Bank of Communications, 1912
  • The first edition of the 5 Yuan issued by Hua Hsing Commercial Bank of China, 1938
  • The first edition of the 500 Yuan issued by Chartered Bank of India, Australia and China, 1930
  • The first edition of 5 Taels issued by Tian Jin Sino-Russian Sheng Dao Bank, 1907
  • The first edition of the 10 Yuan issued by Commissariat Department of China, 1925
  • The first edition of the 100 Yuan issued by Federal Reserve Bank of China, 1938
  • The first edition of the the 10 Yuan issued by the National Commercial Bank of China, 1923

This project - which IZBLU Labs has done in collaboration with BOAX, a premium NFT
marketplace which allows users to trade digital assets - is a win-win for Chinese heritage lovers as well as potential investors. The NFT notes have been reported to be non-replicable and unalterable, thus allaying concerns of transparency and provenance.


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