Blockchain Based Technologies Gain Traction Amongst Institutions

FinancialBuzz.com News Commentary

NEW YORK, April 29, 2021 /PRNewswire/ -- This year is shaping up to be exceedingly important for the development of cryptocurrencies. Among the numerous recent news reports about how the modern banking infrastructure is opening up to the trend, there are also signs that some major businesses are becoming more adaptable to receiving payments in cryptocurrencies. As a result, the view that Bitcoin or Ethereum are worthwhile investments has caused major banks to allow customers to invest in specialized funds. For example, according to a report by Coindesk, JPMorgan Chase is preparing to offer an actively managed bitcoin fund to certain clients, becoming the latest and largest bank to embrace crypto as an asset class. Scienjoy Holding Corporation (NASDAQ: SJ), Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV), Riot Blockchain, Inc. (NASDAQ: RIOT), Funko, Inc. (NASDAQ: FNKO), WISeKey International Holding Ltd. (NASDAQ: WKEY)

Meanwhile, the trend of NFTs (Non-Fungible Tokens) has gained traction online, specifically amongst tech and crypto enthusiasts. As a result, the largest crypto exchange by trading volume, Binance, has revealed plans on Tuesday to introduce its own marketplace where users can create, buy and sell the digital collector's items.  "Our aim is to provide the largest NFT trading platform in the world with the best minting, buying and exchanging experience, by leveraging the fastest and cheapest solutions powered by Binance blockchain infrastructure and community," said Helen Hai, Head of Binance's NFT project, according to CNBC.

Scienjoy Holding Corporation (NASDAQ: SJ) just announced breaking news this morning that, "Scienjoy Launches Video Demonstration of Non-Fungible Token Game Experience", a leading live entertainment mobile streaming platform in China, today launched the first video demonstration of the Company's virtual worlds and games featuring Non-Fungible Tokens ("NFTs"). This initiative aims to educate international audiences on Scienjoy's immersive entertainment experience while showing how NFTs enrich gameplay…

This education campaign follows the Company's announcement on April 26, 2021 that it has officially launched the first round of Non-Fungible Tokens ("NFTs") on its live streaming platforms, making it one of the first live streaming platforms in mainland China to adopt the technology. In China, the live streaming industry represents a new form of online entertainment that's unmatched in other markets, making it difficult to comprehend without first-hand experience. Scienjoy will publish videos and staged game demos to show international audiences how NFTs are being integrated into the platform, and scenarios of how they can be traded and minted in the future.