Tencent’s non-fungible token (NFT) market Huanhe has not issued a brand new NFT on the market in a month, the primary time that no new NFTs have been issued for a complete month since final October.
See associated article: Tencent to chop home NFT market staff, look abroad: report
Quick information
- On the finish of July, native media cited insider sources that Tencent was going to close down Huanhe earlier than July 24 and lay off its staff, as a consequence of regulatory uncertainty.
- The final time Huanhe issued NFTs was on July 8.
- Tencent is contemplating establishing an NFT market abroad, an inner supply stated, native media reported.
- Tencent has not publicly responded to the shutdown hypothesis, nor did it reply to Forkast’s request for remark.
- Because of authorities’ warnings over NFT hype and financialization, Huanhe has not allowed secondary buying and selling of NFTs. Since June, Huanhe has skilled gradual gross sales.
- In Might, the Platform and Content material Group, considered one of Tencent’s enterprise items to which Huanhe belongs, started a spherical of layoffs, slashing 10 p.c of its workforce, based on native media reviews.
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