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What’s the NFT game Tencent & Alibaba Rush into?

Published

5 years ago

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In June 2021, Alibaba and Dunhuang Arts Institute jointly released two NFTs, Dunhuang Flying Sky and Nine Color Deer App skins, which were limited to 16,000 in the world. The works were looted as soon as they were released.

On June 26, 2021, NetEase and Nervina Labs released their first NFT work on Taobao.

On August 3, 2021, Chinese tech giant Tencent’s  NFTs trading platform -Huanhe launched 300 copies “Vinyl Record NFT” authorized by TV program “Thirteen Invitations”, and sold out instantly.

Chinese giants’ capital is vying to chase, and it’s so fierce. So far people can’t help asking, what is NFT?

Meet NFT

NFT is short for Non-fungible Token，which is relative to the concept of Fungible Token (FT), each NFT has a unique and only identification, which is not interchangeable, and the smallest unit is 1 and indivisible.

Generally, BTC, ETH, etc. we familiar with are Fungible Token. For example, BTC everyone owns is same, it’s interchangeable with each other, can also be divided into 0.1, or 0.01 without affecting the value and use.

NFT represents indivisible and non-interchangeable items in reality, such as a real estate certificate, a famous painting, a piece of game equipment and so on. They are all unique, and completely lose their value and practicality after being divided. The most typical are collectibles and artworks. These products with non-fungible genes are digitized and tokenized using blockchain technology, and they have become popular NFTs today.

NFT is one and only

Economics stipulates that currency is a unity equivalent and a carrier of consensus on value. In modern society, personal wealth is no longer measured by currency holdings, but includes the value and quantity of assets under his name. Its assets include but not limited to items with market value such as houses, cars, stocks, etc. In most case, the value carried by an asset often far exceeds the value of the cash value they hold. However, real assets have two major shortcomings: poor liquidity and high cost of confirmation. For example, the determination of the right of a house needs to rely on the registration of the Housing Management Committee to determine the ultimate ownership of the house.

But in the blockchain world, the assets we currently have are BTC, ETH with currency attributes. After meeting demand for monetary assets, a value medium of non-monetary assets will naturally emerge, and this is NFT. Relying on the decentralization, immutability and cryptographic authentication of the blockchain, NFT solves a series of problems of real assets:

• The asset is unique and cannot be faked

• Strong liquidity, real-time trading;

• Cryptography is the confirmation and cannot be tampered with.

In addition, NFT also has features that cryptocurrency does not have. Its unique features can be used for identity certification, item ownership certification, virtual props, etc. NFT makes crypto assets more practical, enabling users to expand the utilization of valuable assets in the form of NFT, and is protected by blockchain technology.

NFT Boom Out

NFT is not a new thing born this year, it has made any public appearances early in 2017, but more regarded as a niche thing within Ethereum.

So, what is the real important promoter of NFT out of the circle?

First, let’s ask a question: How much would a digital picture be? The answer is $69.3 million！

On March 11, 2021, an unknown artist Beeple collaged his daily art work for the past thirteen years into a digital picture called “everyday: the first 5000 days”. At Christie’s, it was sold for $69.3 million, which shocked the world.

Overnight, NFT became the outlet. This 40-year-old American painter also made great fortune overnight. The popularity of NFT has caused a huge sensation in many fields such as art, venture capital, and finance.

Commercial filed such as NBA, Samsung, McDonald’s, Marvel, movie stars, etc. are all releasing their own NFT products, and venture capital industry such as Three Arrows Capital, Signum Capital, NGC Ventures, Coinbase, etc. have begun to invest in this field. Internet giants such as Tencent, JD, Facebook, Twitter, etc. are all laying out the NFT battlefield. The opportunities and challenges brought by NFT are more than that brought by the mobile Internet to the Internet.

From the perspective of business history, iPhone, Amazon, Microsoft, etc. were initially used by industry insiders. After going out of the circle by marketing, products, and the trend of the times, the entire society began to accept them, and they evolved from product for a specific group into mass infrastructure. Although the development of NFT is still at an early stage, the boom out of NFT will continue the historical trajectory and accelerate the application of blockchain technology. It is of great significance for promoting the digitalization of society.

NFT Bright Future

Except crypto artworks, will NFT have wider applications? We can find that NFT will be widely used in the future. For example, the recent popular NFT+DeFi and NFT+game, as well as the concept of meta-universe, are inseparable from the future development of NFT. The physical application of NFT will solve many problems for the society, such as: 

First, intellectual property. NFT can represent a painting, a song, a patent, a film, a photo, or other intellectual property rights. NFT can help each unique thing to register the copyright and help it identify the patent.

Second, physical assets. Real estate such as houses and other physical assets are digitized through NFT. It can be used in financial markets such as the circulation of assets.

Third, records and identification. The unique features of NFT, can be used to verify identity and birth certificates, driver’s licenses, academic certificates, etc., to prevent abuse or tampering.

There will be many physical applications of NFT in the future, which will surely solve various practical problems for the society. Presumably this is the ultimate goal of various giant capitals. As the world’s first physical digital economy token trading platform-BtLux Exchange focuses on the implementation of blockchain scenarios that are closely related to people’s lives.

Different from other cryptocurrencies with no entity value support, BtLux regards the underlying innovation of the blockchain as an important breakthrough in the independent innovation of core technology, and takes the use of blockchain to trade, calculate, and record to promote real economic activities on the chain under supervision. At the same time, realize the market operation and value management of digital assets after the certification, redefine the interest distribution relationship of producers, consumers and participants, and form a brand new financial and business model.

Soon, BtLux will accelerate the integration of NFT and physical enterprises based on years of experience in the implementation of blockchain physical scenarios, provide top-level business architecture design and digital economic model design for physical enterprises, and jointly build “blockchain” + “new ecology”, So that participants in the entire chain can benefit. It would bring tangible benefits to the real economy and the entire society, and be widely recognized by the society, making digital currency a living water, flowing in the real economy, and bringing benefits to the real economy more vitality and new power.

NFT is a new world brought about by the technological explosion era, and the digitalization process of the real world in the next ten years will also be greatly accelerated. In the future, only when NFT accelerates the deep integration of the real economy and the digital economy, the technological value of the blockchain will gradually emerge in this process. It will be able to bring new business models and reconstruct distribution models, market structures, organizational forms, and industry relationships to promote human beings to a new era of digital civilization, and in that, BtLux will become an indispensable promoter.

BtLux Official website: https://www.btlux.top/

About Author

Alex Jacob

Alex Jacob is a literature author. He was born in Chicago. Alex passion is writing news articles. He writes number of articles and published it.

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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.

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Press Release

Wall Street Veteran Peter Larsen Unveils ‘Quantum Scalp’ to Bridge Institutional-Retail Divide

Published

4 hours ago

on

May 4, 2026

By

Retail Divide

 

Peter Larsen, a veteran quantitative trader with over three decades of experience on Wall Street, has emerged from retirement to launch Quantum Scalp, a new financial technology firm aimed at democratizing access to institutional-grade algorithmic trading. 

The company announced today that it has secured $100 million in private capital to build a systematic trading platform designed to provide retail investors with tools previously exclusive to investment banks and hedge funds. The funding round included participation from family offices, former industry colleagues, and a sovereign wealth fund.

 

A Career Built on Market Microstructure 

Larsen’s career parallels the evolution of modern electronic trading. He began at Bear Stearns in 1993 as a junior market analyst, joining during the early shift from floor trading to screen-based execution. Throughout the 1990s, Larsen developed statistical models for fixed-income desks, working within the cohort of quantitative analysts who fundamentally rewired the industry’s approach to risk and execution.

In 2001, Larsen moved to Lehman Brothers as a consultant within the firm’s Quantitative Proprietary Trading division. During his tenure, he served as a lead analyst on the Penn-Lehman Automated Trading Project (PLAT). The initiative, a collaboration between Lehman Brothers and the University of Pennsylvania, developed one of the earliest realistic simulators for testing automated trading strategies. PLAT remains a cited reference in academic and industry circles regarding market microstructure and algorithmic execution. 

Larsen retired in 2006, prior to the financial crisis of 2008. For the next fifteen years, he remained active in an advisory capacity, monitoring the widening disparity between institutional and retail trading capabilities. 

Addressing the Intelligence Gap

 

According to Larsen, the post-2010 retail trading revolution reduced costs through commission-free trading and fractional shares but failed to close the “intelligence gap.” 

“Cheap access without an edge isn’t democratization,” Larsen said in an interview at Wyoming. “It often results in capital flowing more efficiently toward institutions that possess superior data and execution tools. Our objective is parity.” 

The catalyst for Larsen’s return to the market was the advancement of artificial intelligence and optimization technologies between 2022 and 2024. Larsen posits that modern transformer-based forecasting and hybrid systems now allow for the compression of capabilities that previously required large quantitative teams. 

Technology and Compliance

 Despite the company name, Quantum Scalp does not utilize quantum computing hardware. Larsen was explicit in clarifying the technology stack to avoid investor confusion. 

“The system is quantum-inspired,” Larsen stated. “We utilize optimization algorithms derived from quantum mechanics, such as simulated annealing variants and tensor-network methods, running on classical GPU infrastructure. Combined with AI-driven signal processing, this allows for portfolio construction and signal weighting at a latency and scale that was not feasible five years ago.”

 The platform operates on three distinct layers:

1.  Signal Layer: Ingests market data, alternative data, and macroeconomic indicators to generate short-horizon forecasts.

2.  Optimization Layer: Applies quantum-inspired algorithms to weight signals and construct positions under risk constraints.

3.  Execution Layer: Manages order routing and slippage, leveraging methodologies originally developed during the PLAT project. 

Industry Skepticism and Regulatory Landscape The launch comes amidst heightened scrutiny of AI-driven retail trading platforms. Regulators in the United States and Europe have increased oversight regarding algorithmic advice given to non-institutional investors. Critics note that previous attempts to democratize quantitative tools, such as early robo-advisors and AI trading startups, have often struggled to match backtested performance in live markets.

Larsen acknowledges the risks inherent in the sector. “We are not selling a guaranteed return,” he said. “Anyone claiming to sell a ‘money printer’ is misrepresenting the product. We are providing the same class of tools, analysis quality, and execution discipline utilized by major desks. How that utility is employed remains the responsibility of the investor.”

 

A Second Act 

At 75, Larsen represents a rare profile in the fintech sector, which is typically dominated by younger founders. Colleagues describe the venture as consistent with his long-standing focus on market structure integrity.

 The firm plans to begin rolling out access to the platform later this year, subject to regulatory compliance and final testing phases. For Larsen, the venture is a corrective measure to a career spent building advantages for the institutional side of the market.

 “I worked for the house for thirty years,” Larsen said. “I intend to provide the players with a system that levels the field.” 

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Press Release

Galatea by Inkitt Celebrates 100+ Five-Star Reviews Amid Rising Popularity

Published

1 day ago

on

May 3, 2026

By

California, USA, 3rd May 2026, ZEX PR WIRE — Galatea, the rapidly growing digital reading platform developed by Inkitt, has surpassed 100 five-star reviews, marking a significant milestone in its continued rise among global readers. The achievement highlights strong user satisfaction and reinforces Galatea’s position as more than just a reading app. As part of Inkitt’s broader story-to-screen ecosystem, Galatea plays a central role in transforming reader-driven content into multi-format entertainment, extending all the way to television through CandyJar.

This milestone arrives at a time when audiences are actively seeking more flexible and engaging ways to consume stories. Galatea has responded by offering a format that aligns with modern habits while still preserving the emotional depth that readers expect from strong storytelling.

A Milestone That Reflects Real Reader Loyalty

Reaching over 100 five-star reviews signals more than short-term success. It reflects consistent reader satisfaction and an ability to maintain engagement over time. Users frequently highlight how seamlessly the platform fits into their daily routines, whether they are reading during short breaks, while commuting, or winding down at night.

This accessibility has helped Galatea build a loyal user base. Readers are not simply downloading the app and leaving. They return regularly to continue stories, explore new releases, and stay connected to ongoing narratives. The growing number of five-star reviews demonstrates that users are finding lasting value in the experience.

In an environment where attention is divided across multiple platforms, this level of retention is notable. Galatea has managed to create a product that readers continue to engage with long after their first interaction.

A Reading Experience Designed for Modern Habits

Galatea has built its platform around the idea that reading should adapt to the reader. Instead of presenting long chapters that require uninterrupted time, the platform delivers stories in episodic segments that are easy to consume. This structure makes reading more approachable and encourages consistent engagement.

The platform also offers multiple formats within a single story. Readers can move seamlessly between ebook and audiobook modes, allowing them to switch based on their situation. In addition, Galatea includes chat-style storytelling, where narratives unfold through text-message-like conversations. This format introduces variety and reflects how people naturally communicate today.

Audio is another defining feature of the platform. Full narration and carefully designed sound elements support the storytelling experience and add depth to each scene. Rather than acting as a background feature, audio plays an active role in shaping how stories are experienced.

Together, these features create a reading environment that feels flexible, engaging, and suited to modern lifestyles.

A Story-to-Screen Pipeline That Sets It Apart

Galatea’s growth is closely tied to Inkitt’s larger story-to-screen model, which differentiates it from traditional reading platforms. The process begins on Inkitt, where writers share their work and reader engagement determines which stories gain traction. The most promising titles are then published on Galatea, where they reach a wider audience in enhanced formats.

From there, the most successful stories move into television development on CandyJar. This structured pipeline allows content to evolve naturally, moving from written storytelling to screen adaptation based on proven audience demand.

This model offers a clear pathway for writers. Instead of navigating uncertain publishing routes, authors can see their work progress step by step, guided by reader response. It also ensures that the stories adapted for television already have a built-in audience, reducing risk and increasing the likelihood of success.

For readers, the pipeline adds another layer of engagement. Stories they discover on Galatea have the potential to expand into visual formats, creating a deeper connection to the content. This continuity strengthens the overall experience and sets the platform apart in a crowded market.

Content That Reflects What Readers Actually Want

Galatea’s content strategy is built on real user behavior. By leveraging data from Inkitt, the platform identifies stories that already resonate with readers. This ensures that the content available on Galatea aligns closely with audience preferences.

Genres such as romance, fantasy, thriller, drama, and Young Adult continue to perform strongly, reflecting consistent demand across a wide range of readers. At the same time, the platform introduces new voices and perspectives, maintaining a balance between familiar themes and fresh ideas.

This approach reduces the uncertainty often associated with content selection. Instead of relying on predictions, Galatea uses measurable engagement to guide its decisions. The result is a library that feels both curated and relevant.

For writers, this system creates meaningful opportunities. Success is determined by reader response, allowing emerging authors to gain visibility and build an audience based on the strength of their work.

Listening to Feedback and Improving the Experience

The increase in five-star reviews also reflects Galatea’s responsiveness to its users. Feedback plays a direct role in shaping the platform’s development. Readers frequently mention features such as customizable settings, smooth navigation, and the ability to switch between formats without interruption.

These elements contribute to a user-friendly experience that appeals to a broad audience. Small improvements, driven by real feedback, continue to enhance the platform’s usability.

Galatea’s ability to adapt has become a key strength. As user expectations evolve, the platform remains focused on refining its features while maintaining the core aspects that readers value.

Meeting the Demand for Flexible Storytelling

Modern readers are looking for flexibility, and Galatea has positioned itself to meet that demand. The platform allows users to engage with stories in different ways, depending on their preferences and schedules.

Whether through short reading sessions, audiobook listening, or interactive chat-based formats, users can choose how they want to experience each story. This adaptability makes it easier to stay engaged without disrupting daily routines.

The ability to move between formats also adds to the overall experience. A reader can begin a story in text form, continue it as an audiobook, and explore chat-style interactions within the same narrative. This level of flexibility keeps the platform dynamic and appealing.

Building a Community Around Stories

As Galatea continues to grow, it is also building a strong and engaged community. The increasing number of five-star reviews reflects not only individual satisfaction but also a shared enthusiasm among users.

Readers actively recommend the platform, share feedback, and contribute to its visibility. This organic growth has played an important role in expanding Galatea’s reach.

For writers, this community creates valuable opportunities for connection and recognition. Authors can engage with readers directly and see how their work resonates in real time. This interaction strengthens the relationship between creators and their audience.

Each positive review adds to the platform’s credibility and encourages new users to explore what it has to offer.

Looking Ahead

Surpassing 100 five-star reviews marks an important milestone, but it also signals continued growth. Galatea remains focused on expanding its content library, improving its features, and strengthening its role within Inkitt’s story-to-screen ecosystem.

The integration with CandyJar creates new possibilities for content development, allowing stories to move beyond the app and reach wider audiences. This connection positions Galatea as a key part of a larger entertainment strategy rather than a standalone platform.

As more readers discover the app, the platform is expected to continue building momentum and attracting new users. The steady increase in positive feedback suggests that it is meeting the expectations of its audience and adapting effectively to changing preferences.

Conclusion

Galatea’s achievement of over 100 five-star reviews reflects its ability to deliver a reading experience that aligns with modern expectations. By combining flexible formats, data-driven content, and a clear path from story to screen through CandyJar, the platform offers something distinct in the digital reading space.

As part of Inkitt’s broader vision, Galatea represents more than a reading app. It is a central piece of a storytelling ecosystem where ideas begin with readers and have the potential to grow into larger forms of entertainment. With strong user engagement and a clear direction for growth, Galatea continues to establish itself as a platform that understands both storytelling and the people who enjoy it.

For more information, please feel free to visit https://galatea.com/ 

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Press Release

Milestone Launches Project : Tsavkisi, The First Design-Code Community Near Tbilisi

Published

2 days ago

on

May 2, 2026

By

Milestone has launched Project : Tsavkisi, a residential land-plot development situated on a hillside in the Tsavkisi area, just an 18-minute drive from Tbilisi, Georgia. The project comprises 63 individual land plots, each offering panoramic views of the surrounding forest and the city.

Tbilisi, Georgia, 2nd May 2026 – Milestone has launched Project : Tsavkisi, a residential land-plot development situated on a hillside in the Tsavkisi area, just an 18-minute drive from Tbilisi, Georgia. The project comprises 63 individual land plots, each offering panoramic views of the surrounding forest and the city.

Project : Tsavkisi is a thoughtfully planned community with a unified architectural identity, seamlessly integrated into the natural landscape. It is designed for those who wish to build a residence in a scenic setting while remaining just minutes away from central Tbilisi.

The presale is now open.

The development spans 10 hectares, with 24,000 m² dedicated to curated shared public spaces, including children’s playgrounds, sports courts, and forest walking paths. The project includes professionally maintained shared areas and green zones, along with 24/7 secured territory. 

The architectural vision of Project : Tsavkisi is rooted in a landscape-oriented approach. To create a unique living environment, the project has developed a set of architectural guidelines – a Design Code, where every element is thoughtfully connected to the next. The Code extends from façade materials and roofing guidelines to color selection. A recommended palette of muted, earth-derived tones is designed to maintain visual harmony with the natural landscape. The project adopts a low-density development strategy that maintains visual openness and integrates seamlessly with the natural terrain, avoiding high retaining walls and other intrusive structural elements. 

Homeowners are offered the flexibility to develop individual designs in accordance with the Design Code or to select from a catalogue of nine pre-designed residential houses. They have been created in collaboration with established architectural studios, recognized for their experience in residential design and landscape-driven planning.

The project is designed for residents who lead active urban lives but seek a home in a quiet, natural setting, without sacrificing their connection to the city. Project : Tsavkisi sets a benchmark for holistic suburban development, where each residence contributes to a unified architectural identity.

About Milestone

Milestone is a Georgian real estate development and management company based on innovative vision and ideas, defining environments for quality life. Expanding its portfolio, the company is currently developing a new residential project in the heart of Tbilisi, set to be introduced soon. 

Media Contact

Organization: Milestone

Contact Person: Lasha Eliadze

Website: https://www.projecttsavkisi.ge/

Email:
info@milestone.ge

Contact Number: +995598399899

City: Tbilisi

Country:Georgia

Release id:44575

The post Milestone Launches Project : Tsavkisi, The First Design-Code Community Near Tbilisi appeared first on King Newswire. This content is provided by a third-party source.. King Newswire makes no warranties or representations in connection with it. King Newswire is a press release distribution agency and does not endorse or verify the claims made in this release. If you have any complaints or copyright concerns related to this article, please contact the company listed in the ‘Media Contact’ section

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