HODL Assets will upscale its presence in the nonfungible token space and is also looking to move its operations from Durban, South Africa to the United States.
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HODL Assets, a nonfungible token (NFT) aggregator platform, has announced the acquisition of blockchain-based social network and commerce platform CoinLinked.
According to a release issued on Wednesday, Wall Street veteran and CoinLinked founder Jenny Q. Ta will also join the HODL Assets team as chief operating officer.
The CoinLinked acquisition is part of a broader plan by HODL Assets to upscale its presence in the nonfungible token space with the launch of its NFT marketplace dubbed HODL platform.
HODL Asset’s new NFT platform will reportedly offer gaming and social networking features to the expanding NFT space. The CoinLinked acquisition likely ties into these plans, with Ta previously telling Cointelegraph that the blockchain social network platform was an “amalgamation of Twitter, Instagram and Amazon.”
Speaking to Cointelegraph, Ta stated that NFTs could be the “killer app” for Web 3.0 much in the same way e-commerce and social media have dominated the current internet architecture, stating:
“NFTs are absolutely the next step for disintermediation of the internet, as the time has come when people are demanding ownership of their assets, and rightfully so. The internet is about gaining attention of the masses and constant change, flowing of information, while NFTs are about gaining attention of the individual and are a static snapshot of time.”
As such, the HODL platform is looking to integrate CoinLinked’s processes to offer features not currently on show on other NFT marketplaces. As part of the announcement, the company stated its vision of making NFTs more mainstream.
Detailing the likely roadmap for broad-based nonfungible token adoption, Ta identified social media and gaming as intermediate steps on the road to making NFTs more accessible.
As previously reported, NFT gaming, especially the play-to-earn variety, has been gaining significant popularity across the globe.
According to the CoinLinked founder and new HODL Assets chief operating officer, the integration of NFTs and social media on the blockchain will create a platform that will alter the dynamics of digital content ownership.
Following its CoinLinked acquisition, HODL Assets is also planning to relocate from South Africa to the United States.