It was just revealed that Nasdaq-listed The9 is reporting that it is getting into the NFT craze. They plan to launch a trading and community platform in the fourth quarter of this year.
The platform is called NFTSTAR. the Shanghai-based company said in a press release that it will showcase the work of global celebrities in sports, entertainment, arts and other industries.
A wholly owned Singapore subsidiary will operate NFTSTAR, and The9 president Chris Shen will serve as CEO of the new platform.
It was also revealed that The9 has hired Gagan Palrecha, former VP of operations at Dapper Labs, as COO of NFTSTAR.
Dapper Labs is the studio behind Cryptokitties and NBA Top Shot. Another issue worth mentioning is that NFTSTAR is open for pre-registration.
Visa gets into the NFT craze
For some time now, Visa has been making headlines related to the cryptocurrency space. Now, it has been revealed that the financial services platform has announced the purchase of CryptoPunk, a popular NFT product.
NFTs are similar to virtual certificates, which people use to claim digital ownership of digital goods like images, videos, or text.
CryptoPunk is one of the first NFT projects created on the ethereum blockchain.
“It’s a collection of 10,000 24×24, 8-bit style pixel art images of male and female characters with unique characteristics such as hairstyles, accessories, etc.
It should also be mentioned that Visa itself does not hold NFT directly, but it uses cryptocurrency custodian Anchorage Digital to hold its digital artwork.