OKX partners with Jack Ma-owned newspaper to launch NFTs

New Delhi: Cryptocurrency trading platform OKX has announced a partnership with South China Morning Post (SCMP), a 118-year-old Hong-Kong based English daily, to create NFTs.

OKX, which claims to be the second largest cryptocurrency exchange in the world by spot trading volume, will allow the publication to create NFTs of their historical archives consisting of videos, stories, and coverage of historical events.

Jay Hao, CEO of OKX, said, "There is great potential in the crypto and metaverse space and OKX strives to create a more welcoming environment for all. Our collaboration with SCMP is just the beginning of this ambitious program."

The first drop lines up in the second half of March 2022.

The newspaper is all set to highlight contemporary reports revolving around the handover of Hong Kong from British rule to China, the Asian financial crisis, the deaths of Deng Xiaoping and Princess Diana, the Avian flu outbreak and more.

“Through our artifacts whitepaper, we seek to inspire other ‘guardians of history’ to share our vision of making history more recognizable, connectable and collectible,” said Gary Liu, CEO of the South China Morning Post.

Content-based NFTs will create new revenue streams for legacy media organizations and act as a link between the current generation and the rich historical events that have shaped the modern world.

OKX offers its services to users in more than 100 countries with a daily bitcoin futures trading volume of $1.5 billion, he said. In addition to futures contracts, OKX offers spot, margin, options, perpetual swaps, DeFi, lending, and mining services.

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