The non-fungible token (NFT) artwork, named "Hexie - The Harmony", is a collage of 1,000 original images that reflect contemporary Chinese culture, style and core values. Photo: Courtesy of Funnybean

Funnybean - M Mandarin, a global technology firm dedicated to online Chinese education, jumps on the non-fungible tokens (NFTs) bandwagon by launching its own exclusive NFT auction on Tuesday in partnership with RubiX, a leading full-scale Blockchain-as-a-Service (BaaS) firm.

The NFT, named "Hexie - The Harmony", has been offered $7 million at pre-bid. It features a collage of thousands of exclusive illustrations that showcase a beautiful, harmonious balance between cartoon and reality, depicting the rich history and values of the Chinese society and life in China.

The collage, sized at over 432M bytes, sets the record as the largest NFT up for auction in the world to-date, breaking the previous record by 135 percent. Unlike previous NFTs like that of Beeple, RubiX's technology is the first-to-market with the ability to enlarge digital images in order to maintain the highest quality of resolution within each of the images featured in the collage.

Funnybean said that it selected RubiX as its strategic partner for the launch of its first NFT due to the advances and innovation the company is making in blockchain technology, including its Blockchain Green Initiative.

"Every element in this collage reminds me so much of my fondest teenage time in Beijing, that's why I felt proudly eager to present this beautiful collage to the world," says Janice Shi, Co-founder and CMO of RubiX.

"We are aiming to cut down carbon emissions caused by Bitcoin and other Proof of work (PoW) generated by blockchain mining activities, by using Rubix we are eliminating the carbon footprint therefore contributing to the goal of a carbon-neutral economy," Shi said.

NFTs are the latest craze taking over the cryptocurrency world and the market is growing exponentially by the day.