Tencent Music has disbanded its “TME Digital Collection” team, Jiemian News learned Wednesday. All staff have been transferred to other departments.
TME was the first NFT-like product in China. Unlike NFTs overseas, the tokens – in this case digital albums or singles – have no financial nature and can’t be traded among collectors.
TME has not issued a new token since the end of June. In August, Tencent aborted its NFT project Huanhe. TME was suspended at the same time.
