Quick take:
- Tencent is testing NFT avatar profile pictures (PFP) to be used in its metaverse-based lounge.
- The company said users will be able to invite their friends to the virtual hub where they can listen to music while wearing their avatars.
- The announcement comes barely two weeks after launching an extended reality unit to explore the metaverse opportunity.
Tencent has started testing NFT avatar profile pictures to be used in a virtual hub. The company said users of the metaverse-based lounge will be able to listen to music in their virtual avatars and invite their friends.
The announcement comes barely two weeks after the Chinese technology giants launched a unit dedicated to exploring the metaverse opportunity. On June 20, Tencent held a meeting to launch an extended reality unit that will invest in both hardware and software segments of the metaverse.
The virtual “Music Zone” will be accessible via the company’s QQ Music App, while the NFT PFP avatars are built on its Zhixin Chain blockchain.
The new virtual experiential hub is already accessible to those on Android phones to try. Official sales are set to begin on Wednesday morning, according to the company’s announcement on its official QQ Music account on Monday.
The NFT PFP avatar collection will be limited to 40,000 versions, available at 0.88 yuan ($ 0.13) per avatar. This could be a scramble based on QQ Music’s 275 million users reported as of 2021.
Tencent’s latest metaverse push reveal also comes a few days after it joined a long list of other technology giants looking to self-regulate the NFT space in China. Chinese authorities are very strict on digital asset trading, calling the industry too speculative.
Last week, the likes of Baidu, JD.com, Tencent and others came together to formulate new NFT rules that prevent platform users from trading their NFTs on secondary markets.
Tencent’s NFT PFP drop seems to be limited for use in its virtual music zone, which does not have NFT trading functionality.
The company’s efforts seem to be directed toward giving the users of the QQ Music App more options to experience music with their friends, rather than creating a marketplace where they can make money off NFTs by trading their NFT avatar PFPs.
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