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- July 8 was the last time Huanhe issued NFTs
- Secondary trading of NFTs is still not allowed by Huanhe
- Since June Huanhe has experienced slow sales
Tencent’s NFT commercial center Huanhe has not given another NFT available to be purchased in a month, the initial occasion when no new NFTs have been given for a whole month since last October.
Toward the finish of July, neighborhood media refered to insider sources that Tencent planned to stop down Huanhe before July 24 and lay its group, because of administrative vulnerability.
Tencent has not publicly responded to the shutdown speculation
The last time Huanhe gave NFTs was on July 8. Tencent is thinking about setting up a NFT market abroad, an inner source said, nearby media detailed.
Tencent has not openly answered the closure hypothesis, nor did it answer Forkast’s solicitation for input. Because of specialists’ alerts over NFT promotion and financialization, Huanhe has not permitted auxiliary exchanging of NFTs. Since June, Huanhe has encountered sluggish deals.
In May, the Platform and Content Group, one of Tencent’s specialty units to which Huanhe has a place, started a series of cutbacks, cutting 10% of its labor force, as per neighborhood media reports.
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More about Tencent
Tencent Holdings Ltd. is a Chinese worldwide innovation and diversion combination and holding organization settled in Shenzhen. It is one of the greatest earning mixed media organizations on the planet in light of income.
It is additionally the biggest organization in the computer game industry on the planet in light of its ventures, with Tencent Games being the development of Tencent Interactive Entertainment Group (IEG) zeroed in on distributing of games. Its twin-high rise central command, Tencent Seafront Towers are situated in the Nanshan District of Shenzhen.
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