Tencent stops NFT sales on its Huanhe Platform
Amid regulator scrutiny
Tencent will no longer release digital collectibles on its NFT platform in light of scrutiny from regulators.
According to Reuters, Huanhe, which launched last August, will no longer release new NFTs to users. Owners of existing NFTs will still be able to hold, display or request a refund for their digital assets.
"Based on the company's consideration to focus on its core strategy, Huanhe is making adjustments to its business," Tencent said in a statement.
For more from us at Waivly, join our free fun-to-read and to-the-point newsletter enjoyed by hundreds of people across the internet every day of the week 👇