First images have emerged of specialized digital yuan wallets provided by the Tencent-run e-pay platform WeChat Pay. Although the wallets are still in what appears to be beta testing and are not yet fully functional, some media outlets – such as Sina – appear to have been able to open wallets and test their…
Read more
WeChat removed several accounts for digital collectible platforms for violating the policy of illegal trade, while Ant Group and Tencent-owned NFT platforms updated their user agreements. China’s leading social media platforms and internet giants have updated their policy to restrict or remove nonfungible token (NFT) platforms, citing a lack of regulatory clarity and fearing government…
Read more
The company’s valuation grew from just $410 million in 2021, reflecting the rapid expansion of the NFT economy. Australian NFT trading platform Immutable announced a $200 million Series C funding round led primarily by Singaporean state-owned investment firm Temasek and with participation from Animoca Brands and Tencent. Additional investment from ParaFi Capital, Princeville Capital and Arrington Capital…
Read more
Following the startup’s partnership with Gamestop, the Sydney-based blockchain firm Immutable announced it raised $200 million in a Series C financing round led by Temasek. The company is now valued at $2.5 billion and Immutable plans to use the funds to scale the startup’s gaming studio. Immutable Raises $200 Million, NFT Startup Aims to Bolster…
Read more
Chinese entertainment giant Tencent will be collaborating on the project with a number of others, including Alibaba subsidiary Ant Group. Chinese entertainment conglomerate Tencent has been approved by the United Nations to lead a project exploring the creation of a standard technical and security framework for non-fungible tokens (NFTs) . The project, dubbed a “technical…
Read more
Xinhua, the official news agency of China, is going to issue an NFT collection with photographs depicting historic moments of the passing year. The initiative, which comes amid an ongoing crypto crackdown, is seen as a boost for blockchain, the technology that also underpins cryptocurrencies. Xinhua to Create Digital Collectibles Based on Photo Reports The…
Read more
China’s tech giants are hopeful of launching metaverse and non-fungible token (NFT) businesses despite suffering a torrid year at the hands of the country’s vehemently anti-crypto government. Heavy-hitters including JD.com and Alibaba have laid out plans that involve metaverse and NFTs, although regulations have forced them to make cosmetic name changes…. Read More: Chinese…
Read more
Tymebank, a South Africa-based digital bank, recently completed its Series B funding round with $70 million invested in the firm by Tencent and U.K. development financier, CDC Group. Funds to Support Tyme’s Expansion Into New Markets Tymebank, a digital bank from South Africa, recently raised an additional $70 million from its latest funding round, led…
Read more
The local news publication, acting as the party’s spokesperson, warned of a major decrease in the value of NFT assets once its bubble pops. According to local sources, the Chinese government has released a series of statements denouncing the value of the nonfungible token, or NFT, market, even though two of the nation’s major tech…
Read more
Alibaba’s Alipay and Tencent’s WeChat Pay reportedly account for 98% of the mobile payment market in China. China’s central bank digital currency, or CBDC, will provide backup for major retail payment services like AliPay and WeChat Pay as its key objective, according to an official at the People’s Bank of China. Mu Changchun, head of…
Read more
