The drive by Chinese tech giants to scale Web3 is gaining momentum. Tencent, one of the brands driving the growth recently launched NFT gallery drops on its SEA Music App: JOOX. JOOX is a leading Tencent’s music streaming service that’s making waves in the Southeast Asian market.
The newly launched non-fungible tokens gallery drops allow users and artists to display their digital asset collections in collaboration with MusicY, a reputable music NFT marketplace. Digital artists and content creators can buy, sell, and trade NFTs on the marketplace for a profit. In 2015 when JOOX was launched, the focus was to target Southeast Asian markets, including Malaysia, Thailand, Myanmar, and Indonesia.
Last week, Tencent launched a campaign to start testing NFT avatars for QQ Music, the company’s mainland music app. According to a news release reported by Hurun Report, a local rich list curator, the trio of Tencent, ByteDance, and Alibaba are making efforts to open up the Chinese market for metaverse businesses.
Experts believe that with the launch of NFT gallery drops on JOOX, the Southeast Asian market is set to experience an NFT revolution, which will see more artists jump into the bandwagon to make money from their digital asset collections.