Los Angeles, October 12, 2021 (NEWSWIRE) -- ATIF Holdings Limited (NASDAQ: ATIF, the “Company”, “ATIF”, “We”), a holding group providing business and financial consulting in Asia and North America, announced that its technical team has successfully completed the development of an NFT platform. The NFT platform has entered the testing stage, and is expected to be officially launched by the end of 2021.
ATIF’s NFT platform will support a wide range of digital product auctions and listings, including, but not limited to, digital art, encrypted collections, celebrity digital signatures, and personal creations while facilitating a safe and efficient trading marketplace for digital assets that ensures scarcity and originality as well as solving the problem of copyright tracing, that will be available to artists, creators, users, and collectors. The NFT platform will be primarily targeted towards US markets but is open to international users as well. Additionally, the NFT platform offers an opportunity for many artists to earn additional income through royalties, of which a portion of such income can be donated as charity purposes.
As part of the Company's plan to establish a diversified and decentralized financial service system, ATIF entered the NFT segment and expanded its physical collections to digital collections. ATIF's CEO, Jun Liu, stated that the Company will also seek out innovative decentralized financial service business opportunities to retain the Company's development vitality to bring in additional income. ATIF will use its own online media platform with nearly 10 million registered members to promote their new NFT platform while providing NFT trading platform services to its original members which will quickly boost the activity and engagement in its new platform. ATIF is expected to see a boom in 2022 as the global epidemic improves and the economy recovers. ATIF is confident that it will achieve the profitability and expects the Company to turn losses into profits by 2022.
According to NonFungible’s end of year report, the Non-Fungible Tokens Market Capitalization grew from $40,961,223 to $338,035,012 from 2018 through 2020, a staggering 825% increase from when they first started tracking the data. This is expected to grow even more in 2021 and onwards from the data set provided. According to OpenSea, one of the largest NFT platforms in the world, it recorded a total of $3.4 Billion in trading volume for the month of August which was a tenfold increase from its transaction volumes in July. This increase in volume can be attributed to the rise in demand for NFT’s and as NFT’s become more mainstream towards the public and influencers, this demand is expected to grow even more in the future. Though there are often huge activity spikes due to the increased rush in demand brought on by the public and mainstream media, NFT’s play an integral role in crypto and with the global collectibles market cap estimated to be around $370 billion, NFT’s can potentially impact this global market share.
Jun Liu, President, Chairman of the Board and CEO of ATIF was an early executive of Alibaba, the world's largest e-commerce website, and the founder of China's top ten online marketing company B2B.CN, and the founder and chairman of Morgan Networks. He is an early Internet leader in China. Liu has rich network operation experience and believes that the ATIF developed and launched NFT platform will be a brilliant achievement and will lead ATIF into a higher and better level.