Chinese language web large Tencent is making a foray on this planet of non-fungible tokens, launching an NFT buying and selling platform named Huanhe.
- The tech conglomerate has rolled out the Huanhe app — constructed on the corporate’s personal Zhixin chain — on its Android software platform.
- Its debut gross sales function 300 audio NFTs created based mostly on well-known Chinese language discuss present Shisanyao, set to be offered for 18 yuan (US$2.78) every, based on Tencent.
- Tencent will not be the primary Chinese language tech large that’s climbed aboard the NFT bandwagon. Alibaba affiliate Alipay, one of many nation’s main fee apps, sold 32,000 pieces of NFT art work inside a day in June. Chinese language on-line purchasing platform Taobao, owned by Alibaba, final month additionally sold NFTs at its annual purchasing pageant.
- Annabelle Huang, associate at Hong Kong-based crypto monetary providers firm Amber Group, told Forkast.News final month that NFTs could possibly be the following large factor in China.
- “Earlier than Could, quite a lot of the folks in crypto in China have been miners, and mining was a reliable enterprise mode. However for the reason that ban and the nice migration [of crypto miners from China], folks wish to the following factor,” Huang mentioned. “NFT itself will not be an [initial coin offering], it’s not crypto pump-and-dump, so to talk, so I feel the federal government, the regulator’s perspective, is extra pleasant.”