Tencent Quits Sales On Its NFT System Huanhe A Year After Launch As Examination Places - Reuters

Tencent Quits Sales On Its NFT System Huanhe A Year After Launch As Examination Places – Reuters

People check out a Tencent cubicle at the 2021 China International Fair for Trade in Services (CIFTIS) in Beijing, China September 3,2021 REUTERS/Florence Lo

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HONG KONG, Aug 16 (Reuters) – Chinese web titan Tencent Holdings’ (0700 HK) non-fungible token (NFT) system Huanhe will certainly no more launch electronic antiques to the general public, it claimed on Tuesday, as regulative analysis of NFTs places in the nation.

The Shenzhen-based firm claimed that Huanhe, formally released early last August, will certainly no more launch brand-new NFTs to individuals from Tuesday. The firm stated that proprietors of existing antiques will certainly still be able to hold, present or ask for a reimbursement for their ownerships.

” Based on the firm’s factor to consider to concentrate on its core technique, Huanhe is making changes to its service,” Tencent claimed in a declaration.

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Huanhe is among the largest NFT systems in China, with brand-new antiques usually marketed out quickly upon launch.

The action notes a significant resort by Tencent from the NFT market, which has actually come und