Why Shares of Scienjoy Holding Are Rising Today
Shares of Chinese live-streaming platform operator Scienjoy Holding (NASDAQ: SJ) traded more than 14% higher as of 11:22 a.m. EDT Monday following the launch of nonfungible tokens (NFTs) on its platform.
Earlier this month, Scienjoy partnered with Snipp, which helps companies run their loyalty and rewards programs, to develop several major initiatives including NFTs.
NFTs are digital files such as art, video, audio, and other files stored on blockchain, which is the digital ledger technology that powers cryptocurrencies. Some NFTs have already sold for millions of dollars.
Source Fool.com
