Digestible news on the latest developments across the fields of Web3, NFTs, blockchain, and metaverse in China and beyond, compiled for you every week by Pandaily.
This week: metaverse dating app Soul eyes Hong Kong IPO, ByteDance continues metaverse investments with the acquisition of VR startup PoliQ, Chinese tech giants vow to end NFT speculation, and more.
Tencent-backed social media and dating app Soul is vying for an IPO in Hong Kong, after abruptly withdrawing its plan to raise $185 million for a listing on the Nasdaq last year. The Financial Times first reported this story.
READ MORE: Tencent-Backed Social Networking App Soul Pulls US IPO Plan
TikToks parent company, ByteDance, has acquired Chinese virtual reality (VR) startup PoliQ as part of its plan to expand its portfolio in metaverse hardware, content, software and platforms. SCMP first reported this story.
READ MORE: ByteDance Acquired Metaverse Social Startup PoliQ
Babel Finance is hiring US investment banking firm Houlihan Lokey, a specialist in restructuring and distressed mergers and acquisitions, a few weeks after suspending withdrawals amid liquidity issues. CoinDesk and BlockWorks first reported this story.
Chinese tech giants including Tencent Holdings and Ant Group have signed an agreement to stop the secondary trading of NFTs and self-regulate their activities in the market. Reuters and TechCrunch first reported this story.
The European Commission, EU lawmakers and member states secured an agreement on what is likely to be the first major regulatory framework for the cryptocurrency industry. Reuters, CNBC, and Cointelegraph first reported this story.
Meta has begun the roll out of an NFT feature on Facebook, just a week after its chief executive, Mark Zuckerberg, had announced the plan. TechCrunch and The Block first reported this story.
Thats it for this weeks newsletter thanks for reading! As always, we welcome any feedback on how to make this newsletter better. Write to us at [emailprotected]. See you again next week!
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