QQ Music has suspended TME's digital collectibles business, and the original team members have been internally reassigned
According to ChainCatcher news, Tencent's TME subsidiary QQ Music has halted its TME digital collectibles business, and the original team members have been reassigned internally. Sources indicate that when Tencent's Huanhe digital collectibles officially ceased operations in August, TME's digital collectibles business had also come to a stop, and the original team has not pursued the digital collectibles business further. A source close to Tencent Group told Jiemian News that Tencent had previously discussed the digital collectibles business and decided to abandon it after considering regulatory factors and Tencent's strategic direction.It is reported that TME's digital collectibles business was initially warmed up in early August 2021 within the QQ Music app, making it the first mainstream platform in China to define NFTs as digital collectibles, with music records as the form of NFTs, supported by Tencent Cloud's Trust Chain technology. (Source link)