17/06/2021 GMO Enters NFT Business Forming a New Joint Venture

The internet giant has partnered with Samurai Partners for the NFT initiative.

Arnab Shome Thursday, 17/06/2021 | 10:51 GMT+2
Japanese flag
Japanese giant GMO has entered the non-fungible token (NFT) business with the establishment of a new joint venture. GMO Financial Holdings is the largest partner in the venture with a 73.46 percent stake while GMO Internet and Samurai Partners hold 12.24 percent and 11.02 percent, respectively.

The official press release published on Wednesday detailed that the Japanese giant will establish an NFT marketplace, called GMO Adam, through joint capital investment. According to the company, its new NFT business will help in ‘value creation and to enhance its corporate value’.

Is It a Good Time to Start NFT Business?

The conglomerate entered the NFT space at a time when the market saw a massive demand across spaces, from tech enthusiasts to celebrities. The newly brewed space has witnessed transactions worth billions of dollars over a few months.

However, many viewed the demand as another crypto bubble. Recent data also shows that crypto transactions related to NFTs decreased by 90 percent from the peak. But, the industry still remains promising as many well-known artists are launching their art on NFT markets.

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GMO Adam will leverage the network of Samurai Partners, which is a big name in local manga illustrations, to tap creators to launch their art on the marketplace.

“Entering crypto assets business has enabled GMO Internet to accumulate a customer base, expertise and blockchain technology. GMO Adam will make full use of them and is intended to release its new marketplace that will allow customers to trade NFT,” GMO stated.

GMO entered into the crypto business in 2017 with the launch of a cryptocurrency exchange. In addition, it is focusing on crypto payments, and one of its subsidiaries launched a Japanese yen-pegged stablecoin.

Meanwhile, other established crypto companies are entering the NFT space. Furthermore, Binance and local Japanese crypto exchange, Coincheck have opened their own NFT marketplaces.
Arts

https://www.financemagnates.com/cryptocurrency/news/gmo-enters-nft-business-forming-a-new-joint-venture/

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No Future #9/15
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Smile to Shreds, Neon Gwen
The First KayPikeFashion Mint Ever. Ever feel so joyful and were grinning so hard you felt you could split in half? That punk rebel yell of glee when you pull of a particularly refined stunt? This is the paint of dreams, fangs and neon. Hellish and hard to pull off. I was able to with this work quietly paint a sweet inner tale of childhood influences, rat fink and autobody shops. All while pretending to paint gwenom for the audience. More on that in bonus material. This is my alternate animation made specifically for crypto art collectors. It will only ever exist in this format. You get the Shiny, unused in media verified image. More on that in the bonus material. Mixed Media: Bio/Digital. Glycerin on 5'9" human skin 10-14 hours Performance art. Shot on Canon EOS RP. 16 + hours Photoshop and DaVinci Resolve. All Works are SFW. Art has been Seen on the front page of Reddit, Featured in the New York Times, Galileo.tv, and multiple other promotions including Twitch.tv, Disney Interactive, RIOT games, WB games, AMD and more! More on how this art is unique and potentially explosive in the NFT world: https://youtu.be/CXbNF2Y6srs ------------------------- The purchase of this NFT Grants the buyer unique bonus material. Physical Mail Bonus Package: A verified physical Art Print. Autographed from the artist in 12x16. Please allow a few weeks for delivery. Digital Bonus Package: This image in .mp4. An "About the Art" Video and an "From the Artist" introduction. A README.txt about the artwork with some personal notes and Links relevant to the artwork.