Coinsilium Group Limited's (LON:COIN) Malcolm Palle joins Proactive London's Katie Pilbeam plan to launch a non-fungible token (NFT) technology development studio in Gibraltar.
The plan is at the memorandum of understanding (MoU) stage with Indorse, a Singaporean company in which Coinsilium holds a 10% equity interest, to form a partnership or joint venture to create an entity that has been dubbed “Nifty Labs”.
Palle says the timing, 'couldn't be better' as they approach this 'in a 'blaze of publicity', referring to the attention cryptocurrencies are now enjoying in the wider markets.
Nifty Labs will develop smart contract systems for NFT applications including a bridge for NFTs on Bitcoin using Rootstock (RSK) blockchain technology.