Toronto, Canada, 24th January, 2023, Chainwire
Little Red Book, (XiaohongShu), the Chinese version of Instagram integrates Conflux Network as permissionless blockchain allowing users to showcase NFTs minted on Conflux on their profile page in the digital collection section called ‘R-Space’.
Gates Capital Management Reduces Risk After Rare Down Year [Exclusive]
Gates Capital Management’s ECF Value Funds have a fantastic track record. The funds (full-name Excess Cash Flow Value Funds), which invest in an event-driven equity and credit strategy, have produced a 12.6% annualised return over the past 26 years. The funds added 7.7% overall in the second half of 2022, outperforming the 3.4% return for Read More
The platform has more than 200 million active monthly users and this integration brings NFTs a step closer to mass adoption, where people are actively using Web3 technology on a daily basis within a Web2 system.
Little Red Book has previous alliances with blockchains and NFTs but never a permissionless network.
Ming Wu, CTO of Conflux said “large internet industry players in China have initiated efforts embracing the Web3 transition. Conflux is becoming the major bridge connecting the two worlds and taking a leadership role to expand Web3 technology into traditional industry scenarios.”
From a regulation perspective, having such a large-scale company integrate a permissionless blockchain further solidifies China’s pro-NFT position and suggests we can expect an increase in local companies considering blockchain technology integration with existing Web2 companies.
The first Conflux NFT supported by Little Red Book is from the Mimic Shhans community, which has a large Chinese community base, and owners of the original NFT can go through a predefined process to receive the Conflux NFT that can be shown on their Little Red Book profile page.
To see full images please see the Dropbox link: https://www.dropbox.com/sh/s2i440p5hf2s2aw/AAC-JfdxXApMResEpMSqCjDEa?dl=0
Conflux is a permissionless Layer 1 blockchain connecting decentralized economies across borders and protocols. Recently migrated to hybrid PoW/PoS consensus, Conflux provides a fast, secure, and scalable blockchain environment with zero congestion, low fees, and improved network security.
As the only regulatory-compliant public blockchain in China, Conflux provides a unique advantage for projects building and expanding into Asia. In the region, Conflux has collaborated with global brands and government entities on blockchain and metaverse initiatives, including the city of Shanghai, McDonald’s China, and Oreo.
To learn more about Conflux, visit confluxnetwork.org