Conflux Network (CFX), a blockchain platform regulated in China, has entered a strategic partnership with Migu, the digital content arm of China Mobile, to introduce blockchain-based video ringback tones and digital identities. This collaboration aims to enhance user experiences through innovative digital art collectibles and advanced communication hardware.
The initiative will leverage Conflux’s Tree-Graph public blockchain, known for its high throughput and scalability. With China Mobile’s vast user base exceeding 1 billion monthly users, and Migu’s 380 million users for its ebooks and cloud-based gaming services, the partnership is poised to reach a broad audience.
The first product from this collaboration, a blockchain-based digital collectible video ringtone titled “MIGO and His Friend ConFi,” will be launched on August 23. The series will feature Conflux’s mascot, “ConFi,” and Migu’s “MIGO,” and will be available in a limited edition of 5,000 units priced at 13.9 RMB (approximately $2), with about 1% being rare editions.
This partnership is expected to significantly impact both companies. Conflux, a rapidly expanding layer one blockchain, currently holds over $12 million in total value locked and has a market cap of approximately $15,000 in stablecoins. The adoption of its native token, CFX, is anticipated to increase as it is used for transaction fees within the ecosystem.
Market data shows CFX has surged more than 15% in the past two weeks, trading around 14 cents. The altcoin has a fully diluted valuation of about $781 million and an average daily trading volume of approximately $38 million. It is currently retesting a macro support level of around 10 cents, with potential for a bullish rebound if it holds, though a drop below this level could lead to a bearish outlook.
Experts suggest that China might soon lift its cryptocurrency trading ban to compete with global economies like the United States. This shift is already influencing Chinese companies to invest in Hong Kong-based Web3 products, supported by Hong Kong’s recent approvals of spot Bitcoin and Ether ETFs to attract investors.
The Conflux and Migu partnership marks a significant advance in integrating blockchain technology into mainstream digital content. By launching innovative blockchain-based video ringtones, the companies are set to tap into China Mobile’s extensive user base and expand the digital collectible market.
