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Heritage Global Partners, ViciNFT Launch Alliance for NFT and Digital Asset Management
Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
Heritage Global Partners has partnered with ViciNFT Corporation to co-manage NFT auctions. This collaboration aims to tap into the $2.5 billion NFT market, utilizing ViciNFT's expertise in digital assets and blockchain technology. Heritage will serve as the preferred marketplace for upcoming auctions, starting with the second series of Michelle Phillips' NFTs, which previously generated $100,000 in revenues. The partnership is expected to drive growth and significant revenue potential for both companies.
Positive
Strategic alliance with ViciNFT Corporation to leverage NFT market opportunities.
Potential to capture significant revenue in the $2.5 billion NFT market.
Heritage is designated as the preferred marketplace for ViciNFT's auctions.
Negative
None.
SAN DIEGO--(BUSINESS WIRE)--
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.
ABOUT HERITAGE GLOBAL PARTNERS
Heritage Global Partners, Inc. Is a subsidiary of Heritage Global Inc. (NASDAQ:HGBL) and one of the world’s largest industrial auction firms, providing asset valuation, acquisition and disposition services.
ABOUT HERITAGE GLOBAL INC.
Heritage Global Inc. (NASDAQ: HGBL) is an asset services company specializing in financial and industrial asset transactions. The company provides a full suite of services including market making, acquisitions, dispositions, valuations and secured lending. Heritage Global focuses on identifying, valuing, acquiring and monetizing underlying tangible and intangible assets across twenty-eight global sectors. The company acts as an adviser, as well as a principal, acquiring or brokering turnkey manufacturing facilities, surplus industrial machinery and equipment, industrial inventories, accounts receivable portfolios, intellectual property, and entire business enterprises.
ABOUT VICINFT CORPORATION
ViciNFT Corporation is a blockchain software company that designs, builds, and manages digital assets and non-fungible tokens (NFTs) for enterprises and creators. The company’s works are carbon neutral, and include a mandatory charity component equal to 25% of auction proceeds, making “NFTs for the common good.” With NFT initiatives for Michelle Phillips, Aquarium of the Bay, and a number of Nobel Prize and Pulitzer Prize nominees, the company acts as an advisor and concierge for facilitating auctions and digital wallet management. The company is led by Partner and Co-Founder, Bill Gladstone.
