China’s largest gaming and internet company, Tencent Holdings Ld., also known as Tencent, is celebrating its 23rd anniversary in a wise and advanced way by incorporating Non-fungible tokens (NFTs).
The Chinese multinational company has gifted every employee an NFT, which is Tencent’s logo penguin. The company has brought 72,000 unique pieces to the collection. Under these pieces, they have used 1,000 different shapes to diversify the collection.
Colin Wu, the well-known Chinese journalist who is known for reporting exclusive news, tweeted about the same today. Social media has shown a mixed reaction to the company’s actions.
Some of the users find it exciting and a new way to celebrate, while some commented 72,000 is a huge number and does not seem “rare.”
The company was founded in 1998, and it has deep roots in the internet-related market, including entertainment and artificial intelligence.
Tencent’s slowest growth since 2004 amidst Chinese regulatory crackdown
On Wednesday, Tencent posted its slowest revenue growth since 2004, saying that the outlook for the advertising sector will be weak into 2022. The biggest reason behind the slow growth is the brutal Chinese regulatory crackdown.
As per the data by financial market data provider Refinitiv, the company’s revenue surged by 13%, at 142.4 billion yuan, which is the slowest surge since the company went public in 2004. The company said in its statements that the net profit for Q3 rose 3% to 39.5 billion yuan (around $6.18 billion).
Pony Ma, the company’s CEO, stated,
“During the third quarter, the internet industry, including the domestic games industry, and certain advertiser categories, adapted to new regulatory and macroeconomic developments.”
NFT has been one of the most significant contributors to crypto adoption these days due to the involvement of creators and fans from the entertainment and gaming sectors.
As TronWeekly reports, many big firms are trying their hands on NFT, and Disney, as well as Marvel, are the latest examples. Recently, Disney announced its partnership with VeVe to launch its own NFT collectibles.