Recently, The9 announced that it is formally stepping into the Non-Fungible Token ("NFT") business. A Singapore wholly-owned subsidiary of The9 Limited, NFTSTAR Singapore Pte. Ltd., will launch a NFT trading and community platform NFTSTAR, which is anticipated to be officially launched in the last quarter of this year, while user pre-registration incentive program is now starting.
NFTSTAR will feature NFT collections created by global stars licensed IPs. The platform will provide users with purchase, trade, and interactive activities. You can purchase different tiers of blind boxes and own stars' limited NFT collections. Users will acquire the ownership of the unique NFT collectible via purchase on the platform, or via trading on NFTSTAR's marketplace.
NFTSTAR will also accept general payment methods like credit cards to make it easy for mainstream users to participate.
The platform will feature stars from various fields, including but not limited to art, sports, entertainment, and other industries celebrities. According to The9 global sports stars will be the main partners at the initial launch. The platform will soon roll out NFTSTAR's sports stars lineup one by one.
The firm also announced Mr. Gagan Palrecha, the former Dapper Labs VP Operations, will join NFTSTAR as the Chief Operation Officer.
"NBA Top Shot, developed and operated by Dapper Labs, has already achieved great success in the NFT market. Mr. Palrecha has extensive experience and resources for the operation of the NFT platform. He will work with the management team to further formulate both short-term and long-term product and operation strategies." noted Chris Shen, CEO of NFTSTAR.
Gagan Palrecha will take care of business development, fostering partnerships with celebrities and strategic partners, product strategy, and business operations. He will also establish an operation team in North America.
Well, NFT markets have been thriving in the last two months. Collection items like Bored Ape Yacht Club and Pudgy Penguins, as well as marketplaces, have been setting new records.
The9 was previously focused on gaming(2005 to 2009), and was the only licensed operator and distributor of World of Warcraft in China.
Chairman and CEO of The9, Zhu Jun, said, "NFT market is growing rapidly all over the world. Our NFTSTAR platform has great potential to grow. Driven by the dual-core businesses of NFT and cryptocurrency mining, our globalization strategy is getting more solid, and a broader market will bring stronger growth to The9."
