Yahoo Taiwan has teamed up with Blocto, a cryptocurrency wallet, to set up the first NFT store for the web services company in Asia. Yahoo’s NFT store will be launched by the end of the month with its mascot “A-Hoo” to feature in the first collection.
Owners of the A-Hoo NFT will be able to trade on Blocto’s NFT marketplace BloctoBay. Hsuan Lee, CEO at portto/Blocto, highlighted that Blocto has experience in deep blockchain cooperation with large enterprises such as MotoGP Ignition and Vault. Blocto is developing a platform with Yahoo Taiwan for people to own and collect non-fungible tokens like A-Hoo. Yahoo Taiwan has likened this to shopping on any e-commerce platform.
Chen-Te Lin, VP of Taiwan e-commerce and regional products at Yahoo, said the partnership with Blocto is helping Yahoo Taiwan make NFTs accessible to all. It creates a channel where local creators can expand their venture into NFTs.
The web service provider highlighted that the world of NFTs is currently riddled by low-quality non-fungible token projects and scams. As such, it is a tedious task to find high-value projects. Yahoo Taiwan will tackle this by scrutinizing and approving its creators. This, it says, will give the company an edge over industry giants like Coinbase, FTX, and Binance.
Yahoo Taiwan and Blocto are also working on a fiat gateway that will allow users to purchase NFTs with fiat currency. Customers will also have the option of credit card. Yahoo’s NFT store will offer reasonable pricing for its curated NFT products. Owners of select non-fungible tokens can reap the benefits of exclusive rewards in the store’s points program.