BlocksInform
Conflux, the native token of the layer 1 conflux blockchain, climbed 60.25% on Thursday after announcing that it had embedded small red book, the Chinese version of instagram.
The chip, which reached its lowest level of $0.022 on January 1. 1, is currently trading at $0.051 as volume across all exchanges surged by 373% to $57 million, based on CoinMarketCap
The integration will allow Little Red Book's 200 million users to be able to display non-fungible tokens (NFT) minted on Conflux on their profile page, according to a press release.
"the major players in the Chinese internet industry have launched efforts embracing the web3 transition," said ming wu, head of conflux technology. "Conflux is becoming the major bridge between the two worlds and taking a leadership role in expanding Web3 technology in the traditional scenarios of the industry."
The shift from Web2 to Web3 has been a popular theme over the past six months, with brands such as Nike releasing a digital wearables marketplace in November, while car manufacturer Porsche attempted, albeit unsuccessfully, to release 5,000 Porsche 911 NFTs this week.
Conflux received a $5 million research grant from Shanghai's government in 2021.
