Chinese social media giant Tencent Holdings has closed its ניט-פונגיבלע tokens (NFT) platform Huanhe after just one year of operation. The move comes as regulatory scrutiny of NFTs mounts in the country.
Huanhe was launched last Aug as a way for Tencent to cash in on the growing popularity of NFTs. However, the platform has been hit hard by China’s recent decision to outlaw secondary trading of digital collectibles.
Source: https://beincrypto.com/tencent-shuts-down-china-nft-platform-citing-increasing-scrutiny/