The Ningbo Intermediate People's Court has issued a warning regarding the speculative activities surrounding the 'Peach Blossom Spring NFT' digital collectibles. These NFTs, introduced earlier this year, have been promoted through online and offline channels, raising concerns of illegal financial activities under the guise of digital collectible investments. Issued by Hong Kong Hengfeng International Holdings Co., the NFTs are traded using virtual currencies like Tether and have seen 8,888 units sold. On July 28, 2025, the Hong Kong Securities and Futures Commission listed these NFTs as suspicious investment products.