Benzinga | May 13, 2021 07:31AM EDT

Lion Group Reports Established Lion NFT Limited To Enter Non-Fungible Token Industry

Lion Group Holding Ltd. ("Lion" or "the Company") (NASDAQ:LGHL), operator of an all-in-one trading platform that offers a wide spectrum of products and services with a focus on Chinese investors, today announced it has established Lion NFT Limited ("Lion NFT") to enter the NFT industry.

Lion NFT is a digital asset company located in the BVI, primarily focused on investment and innovation in digital assets such as non-fungible tokens ("NFTs"). Its parent company holds an MSB license through the U.S. Treasury Department's Financial Crime Enforcement Agency (FinCEN) and an encrypted commodity operating license through the Dubai Multi Commodity Center (DMCC). Lion NFT engages the world's top art galleries and museums, as well as IP resources of well-known artists, while working closely with Royal Lion Middle East DMCC, which counts the UAE royal family as an investor. With these resources, Lion NFT can provide services such as digital asset exchange, NFT innovation, issuance and trading on a global scale under supervision. Lion's NFT trading platform is expected to be launched at the end of the month.

"Lion NFT will offer a full range of services to top artists around the world through NFTs with plans to launch related art works at well-known art festivals. Meanwhile, our technical team has made a major breakthrough in reducing the building cost of NFTs," said Mr. Wang Chunning (Wilson), Chief Executive Officer of Lion. "Over the next few years, there will be a large number of use cases for NFTs, which will only be possible through encryption. In time, we expect to see a boost in creativity and experimentation within the NFT field."