The Chinese version of Instagram Little Red Book (XiaohongShu) has enabled an NFT integration that could catalyze the mass adoption of digital collectibles. This is after the platform teamed up with Conflux Network, a layer 1 public blockchain protocol. Now users of Little Red Book will be able to showcase their NFTs minted through Conflux on their profile pages.
As of press time, Little Red Book boasts over 200 million active monthly users. This NFT integration plays a key role in exposing digital collectibles to a wider audience, thereby accelerating adoption. The social media platform has created a new section on the profile page for NFTs dubbed the “R-Space.” This is where users will be able to view popular artwork from various artists.
The first Conflux NFTs come from the Mimic Shhans community, a big Chinese community base. Those who have these NFTs can follow a few simple steps to have their NFTs displayed on their Little Red Book profile page.
That said, the collaboration between Conflux and Little Red Book is great for the Chinese Web3 space. All parties involved in the deal are quite excited about the future.
In a translated statement, Ming Wu, the CTO at Conflux, notes that “big internet industry gamers in China have started giving efforts to accept the Web3 change. Conflux serves as a massive bridge between Web2 and Web3, thus the protocol is taking a dominant position to enlarge Web3 technology into the traditional industry scene.”
Implications Of This NFT Integration
Now local firms in China are expected to open up to blockchain technology thanks to this collaboration. Even though Little Red Book has been associated with various blockchains and NFT platforms in the past, it hasn’t been on this scale. Also, it’s the first time they are tapping into a public network.
The partnership between the two entities is the latest positive development for crypto-associated technology in China. Despite its hard stance on cryptocurrencies, the Chinese government has shown a willingness to explore NFTs.