The share price of Scienjoy Holding Corporation (NASDAQ: SJ) has soared 34.23% to $13.02 in today’s premarket session. The Scienjoy stock price increased 0.73% to $9.70 in last trading session. 16946.0 shares of the SJ stock changed hands, compared to a daily average volume of 1.04 million shares. A total of 13.19% was gained in the last five days for shares of SJ stock; however, it has gained 17.01% in the last month. An NFT initiative involving its live-streaming platform is causing SJ stock to rise.
What was the initiative?
The Scienjoy platform was founded in 2011, and its core mission is to build a live streaming service matrix that delivers pleasant experiences to users. Scienjoy’s current live streaming platform catalogue has four brands, namely: Showself, Lehai, Haixiu, and BeeLive (including Mifeng, BeeLive Chinese, and Bee Live International for international markets). Scienjoy embraces multiplatform strategy and is dedicated to providing high-quality, value-added services to users who are creative thinkers.
Scienjoy announced today that it has launched Non-Fungible Tokens on its live-streaming platforms, making it one of the first live streaming services in mainland China to have adopted the technology.
Scienjoy has recently announced a strategic partnership with Snipp Interactive, a worldwide leader in digital marketing promotions, rebates, and loyalty solutions, to develop an online loyalty and rewards program and develop technologies that enable live streamers to generate NFTs.
How the NFT will work for Scienjoy?
Digital assets known as NFTs are digital token assets, that can be unique, tracked, and protected while at the same time being unique. These tracking technologies have allowed digital currencies to function similar to physical ones. And Scienjoy (SJ)’s new platform will let broadcasters mint their own NFTs and let viewers bid for mementos by using points earned through the new loyalty and rewards program.