Benzinga | Aug 30, 2021 08:41AM EDT

Heritage Global Partners And ViciNFT Launch Alliance For NFT Creation And Digital Asset Management

Heritage Global Partners, Inc. ("HGP"), a worldwide leader in asset advisory and auction services, and a subsidiary of Heritage Global Inc. (NASDAQ:HGBL), has formed an alliance with ViciNFT Corporation, a leading provider of non-fungible token ("NFT") creation and management, smart contracts, blockchain technology development, and cryptocurrency-based auction management services, to co-market and co-manage NFT auctions utilizing ViciNFT Corporation's enterprise digital asset management and blockchain engineering services.

Regarding the alliance, Ross Dove, CEO of Heritage Global Inc., said: "HGP is excited to participate in cutting edge NFT auctions with a meaningful charitable component and buyers and sellers benefit from open and transparent HGP auction management." He added, "We look forward to long term collaboration with ViciNFT Corporation as the marketplace expands."

Jon Fisher, Partner in ViciNFT Corporation, said: "HGP is the marquee brand for enterprise auctions." He added, "This partnership has a number of notable pathways to growth, with significant revenue potential we're well positioned to capture."

Heritage Global Inc. (HGBL) is a diversified financial services company providing acquisition, disposition, valuation, and lending services for surplus and distressed assets. ViciNFT Corporation is the leading digital asset manager specializing in the creation and management of non-fungible token (NFT) auctions.

ViciNFT will include Heritage as its "preferred marketplace" for its auctions. The companies are partnering to power growth in the $2.5B NFT market among digital collectibles recorded to the blockchain, in which ViciNFT is a leader in the space.

The first auction under this partnership includes the release of a second series of Michelle Phillips "Original California Girl" NFTs, following a first successful auction that totaled $100,000 in revenues, widely covered in media, in June 2021.