SBI Holdings acquires SmartApp, to enter NFT business
Japanese online financial group SBI Holdings Inc announced on the 30th that it has acquired t Smart App Co., Ltd., which operates Non-Fungible Token (NFT) business, and made it its consolidated subsidiary, financial newspaper Nikkei reported on Wednesday.
SmartApp had recently launched the beta version of its NFT marketplace ‘Nanakusa’ in march of this year.
Nanakusa is a platform that allows you to sell NFTs produced by authorized digital artists and NFT distributors, while also enabling users to participate in secondary sales of NFTs.
The NFT issued within the platform has a mechanism that permanently sends royalties to businesses and creators even during the secondary sale of NFTs.
According to its website, Nanakusa is the first Japanese NFT marketplace with a crypto artist registration system.
SBI will now change the company name to SBI NFT Co. Ltd. and its shareholding ratio will be 80%.
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