View of Tencent headquarters in Shenzhen, in China’s southern Guangdong province. Photo: AFP
View of Tencent headquarters in Shenzhen, in China’s southern Guangdong province. Photo: AFP
NFTs

Tencent exits NFT market after only one year amid slow sales, regulatory uncertainty

  • While the Huanhe app will remain, it will only allow existing customers to ‘display, download and share’ NFTs they already own
  • The NFT platform has faced slow sales in recent months, with many of its limited releases remaining unsold

View of Tencent headquarters in Shenzhen, in China’s southern Guangdong province. Photo: AFP
View of Tencent headquarters in Shenzhen, in China’s southern Guangdong province. Photo: AFP
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