Tencent Shuts Down NFT Marketplace Back in 2021, the popularity of NFTs had been growing rapidly. At this time, there were single NFTs selling for millions of dollars, and individuals and corporations alike rushed to cash in on this new craze. Tencent had naturally followed the trend, but it would turn out to be a wrong move for the social media behemoth. Tencent announced the launch of Huanhe last August as a platform where users could trade NFTs on the secondary market. As expected, it had seen warm reception from users, especially Chinese NFT investors. But not too long after,...