"Chinese regulatory scrutiny of cryptocurrencies has since made its way into the NFT space, as expected. However, what started out as just a regular deterrent to citizens from investing in NFTs has spread to the platforms that offer such services. One of the platforms that came under fire was Huanhe, an NFT marketplace that was launched by Chinese social media giant Tencent. Now, barely a year after it was launched for operations, the NFT platform is shutting its doors."