The9 (NCTY) Stock: Why The Price Increased Today

By Amit Chowdhry ● Nov 15, 2021
  • The stock price of The9 Limited (NASDAQ: NCTY) increased by over 6% pre-market today. This is why it happened.

The stock price of The9 Limited (NASDAQ: NCTY) increased by over 6% pre-market today. Investors are responding positively to The9 announcing that its new NFT community and trading platform NFTSTAR has signed an exclusive license agreement with the American Football star CHRISTIAN McCAFFREY. And NFTSTAR will exclusively develop, sell and trade NFT collections created and developed with Christian.

McCaffrey is one of the top players in the NFL and has spent his entire career with the Carolina Panthers. And in the 2019 season, McCaffrey was selected for the NFL All-Star Pro Bowl by virtue of his all-round performance that season where he collected over 2,000 combined yards in one season. In April 2020, McCaffrey renewed a 4-year, multimillion dollar contract with Panthers, making him the highest paid running back in NFL history. 

NFTSTAR is a NFT community and trading platform for users to buy, trade, and interact. And the major transaction contents of the platform are NFT collections developed with global superstar licensed IPs. Each NFT collectible has a unique record on the blockchain and the users will obtain the ownership of the unique NFT collectible through purchase on the platform or through trading on NFTSTAR’s marketplace. NFTSTAR will accept general payment methods like credit cards to make it easy for global users to participate.

McCaffrey will work with NFTSTAR’s creative team and artists to develop digital collections including video, animation and other digital artworks — which will creatively capture the highlights of McCaffrey’s professional career and personal growth. The NFTSTAR community platform will cover superstars in various fields, including but not limited to sports, entertainment, art and celebrities in different industries. And the NFTSTAR community platform aims to create a significant portal to the future metaverse through superstars’ NFT collections, trading, and community interaction.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.