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Conflux token soars following NFT partnership with Chinese version of Instagram


www.theblock.co 26 January 2023 13:33, UTC
Reading time: ~2 m

Conflux token will integrate with Little Red Book, the Chinese version of Instagram, to let users display their NFTs on the platform. The Conflux Network's official Twitter page tweeted the news today.

The conflux token was trading at $0.042 by 7:37 a.m. EST, up about 38% over the past 24 hours, according to TradingView data.

CFXUSD chart by TradingView

Little Red Book has around 200 million monthly active users, according to Conflux Network and Qiangua's 2022 XiaoHongshu Active User Portrait Trend Report.

Conflux is becoming the "major bridge" for connecting "prominent internet industry players" in China, who have initiated efforts to embrace web3, said Ming Wu, CTO of Conflux.

Last year, Instagram announced it would host a marketplace for NFTs, starting with support for Polygon. MATIC surged around 13% following the announcement.

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