SBI VC Trade announced it will terminate the NFT Market by the end of June and integrate RWA services

SBI Holdings (SBI ホールディングス株式会社) announced that SBI NFT Market will terminate its service at the end of June, with SBI VC Trade (SBI VCトレード) serving as the surviving company. The planned effective date of the merger is July 1. According to official information, this change is to respond to the cooling of the global NFT trading market and declining performance, as blockchain application scenarios shift toward the development trend of tokenizing real-world assets (RWA).

SBI ends the NFT trading market, consolidating resources into RWA and blockchain-related services

In an explanation in SBI’s official press release, the SBI Holdings Group has been developing NFTs since 2021, working to build an NFT and Web3 market. However, NFT trading volumes have been declining globally, and blockchain tokenization application scenarios have shifted from speculative trading to RWA (Real World Assets) that combine with tangible assets in the real world. As on-chain transactions in digital markets become increasingly widespread, the application boundaries for technologies such as crypto assets, electronic payments, and NFTs are becoming increasingly blurred. Ending SBI NFT Co., Ltd. and consolidating corporate resources into SBI VC Trade can allocate technical and human resources more effectively to respond to the current market environment and customer needs. As the surviving company of this merger, SBI VC Trade will in the future provide customers with more comprehensive on-chain financial services, strengthening the group’s overall profitability.

Service adjustment explanation for existing SBI NFT users

The NFT trading market “SBINFT Market” is planned to officially terminate services on June 30. The way existing users’ assets are handled, and the related procedures, will be announced separately to ensure that users’ rights are appropriately dealt with before the effective date. Regarding service changes that existing users of the former SBI NFT Market care about most, SBI VC Trade stated that the existing SBI VC TRADE and BITPOINT trading services will not be affected. “SBINFT Mits,” a marketing platform under SBI NFT for enterprises, will be operated by SBI VC Trade. In the future, it is planned to integrate the SBI Web3 wallet.

Merger timeline

According to the officially released merger schedule, the board of directors completed its resolution on May 13 and signed the merger agreement on May 14. SBINFT and SBI VC Trade are expected to hold their final shareholder meetings on June 26 and June 30, respectively, to approve the merger. After all merger resolutions are completed, starting July 1 all SBINFT operations will be fully taken over by SBI VC Trade. The post-merger business content will include services such as buying and selling transactions and exchanging crypto currency and electronic payment.

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