Nasdaq-listed Internet company The9 Limited, announced today that it has entered the Non-Fungible Token (“NFT”) market. The company’s Singaporean subsidiary will launch the NFT trading platform.
NFTSTAR Singapore Pte. Ltd., a wholly-owned subsidiary of The9 Limited in Singapore, will launch an NFT trading and community platform called NFTSTAR (www.nftstar.com) in the fourth quarter of this year, with a user pre-registration incentive program already underway.
Mr. Gagan Palrecha, the former Dapper Labs VP Operations, will join NFTSTAR as Chief Operation Officer, according to The9 (COO).
NFTSTAR’s CEO, Chris Shen, stated, “Mr. Palrecha’s addition to NFTSTAR is very welcome. NBA Top Shot, which was created and is maintained by Dapper Labs, has already proven to be a huge hit in the NFT industry.
Mr. Palrecha has a lot of knowledge and resources when it comes to running the NFT platform. He’ll collaborate with the management team on developing both short- and long-term product and operations initiatives.”
Mr. Palrecha will be in charge of business growth, celebrity and strategic partner partnerships, product planning, and business operations. Mr. Palrecha will also form a North American operations team.
NFTSTAR is a community and trading platform for NFTs that allows users to buy, sell, and engage in interactive activities.
NFTSTAR will include NFT collections made by licensed IPs from throughout the world. Users can purchase several tiers of blind boxes and possess limited NFT collections from celebrities.
Each NFT collectible has its own blockchain record, and users can acquire ownership of these unique NFT collectibles by purchasing them on the platform or exchanging them on NFTSTAR’s marketplace. To make it easy for ordinary people to engage, NFTSTAR will allow common payment methods such as credit cards.
NFTSTAR Community will feature celebrities from a variety of professions, including sports, entertainment, art, and other industries.
At the start, the key partners will be international athletes. NFTSTAR’s sports stars lineup will be announced one by one by The9.
Through NFT collecting, trade, and a community platform, the NFTSTAR community intends to make a substantial entry into the future metaverse.
Chairman and CEO of The9, Zhu Jun, stated, “The global NFT market is quickly expanding. Our NFTSTAR platform has a lot of room for expansion.
Our worldwide plan is becoming more robust, driven by the dual main industries of NFT and cryptocurrency mining, and a bigger market will bring stronger growth to The9.”