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Advertisements for NFT collections Delirious Mind Travelers and Degenerate Ape Academy flooded the financial center of Asia, local media found out
Ads for non-fungible tokens (NFTs) have flooded downtown Hong Kong. The South China Morning Post writes about it. On billboards in downtown Hong Kong, citizens noticed advertisements for NFT collections such as Delirious Mind Travelers and Degenerate Ape Academy.
Degenerate Ape Academy advertisement in downtown Hong Kong. Source: scmp.com
The Delirious Mind Travelers collection was advertised on a 100-meter banner in the Hong Kong subway at Central and Hong Kong stations. The media notes that the center of Hong Kong has attracted the attention of other NFT projects: Bunny Warriors, LuckyKittens, GoingApe and Cyber Ape Age. The financial costs of such advertising moves have not been disclosed. However, Delirious Mind Travelers co-founder Eric Suen says the team is willing to pay the price for the risk.
“NFT is growing fast, we need to have an impact. We want people to remember us as one of the main NFT projects of our time, ”said Suen.
It is noteworthy that in mid-August 2021, the consulting firm PriceWaterhouseCoopers (PwC) warned of the risk of an outflow of crypto business from the region. According to Anri Arslanyan, head of the fintech department at PwC, large crypto businesses will start leaving Hong Kong if regulatory uncertainty persists in the region.
Hong Kong outlined a regulatory framework for the cryptocurrency industry in 2018. However, the region is in no hurry to issue licenses to cryptocurrency companies so as not to contradict tough policies in the UK, US and other Asian regions.
So far, only OSL has received approval from the local financial regulator for the provision of crypto-oriented services. However, even this license did not open the door for retail investors. To trade on OSL, investors must have at least HK $ 8 million (~ $ 1 million) in assets. Since the beginning of 2021, no crypto company has received permission from the Hong Kong regulator.
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