Chinese firm Luxventure plans to launch NFTs in metaverse

22 Mar '22

2 min read

Pic: Shutterstock

JX Luxventure Limited, a service provider for global elite families across menswear, cross-border merchandise, airfare and tourism, plans to enter the Metaverse by offering NFT based projects. Its subsidiary JX Hainan recently entered into an agreement on a cross-border supply chain of duty-free merchandise with Aikayun Technology (Hainan) Co.

Pursuant to the agreement, JX Hainan was granted an exclusive right to distribute cross-border products from Japan in the Hainan Island in the amount up to RMB1 billion, the company said in a media release.

Sun ‘Ice’ Lei, chief executive officer of the company, commented: “With China's border remaining closed due to COVID restriction, there is a high demand for cross-border products from Japan. This exclusive cooperation allows JX Luxventure to be the exclusive supplier and distributor to meet such high demand. In addition, I look forward to our IT team to expand into the NFT related projects and bring JX Luxventure into the metaverse.”

Liu Ze, chief technology officer of the company, commented: "China has set metaverse as the growing sector for the next few years. This fits perfectly with my background as an expert in Blockchain, Internet of Things and Artificial Intelligence. I look forward to work with our R&D team to bring JX Luxventure into the metaverse by delivering NFT based projects."

Fibre2Fashion News Desk (KD)

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