Red Hare, one of the leading non-fungible token (NFT) analytic firms, has successfully partnered with Hong Kong-based BOA Financial Group (BOAFG) to explore business opportunities in the NFT space.
In a July 15 press release, the NFT analytic firm confirmed the successful partnership with BOA Financial Group. Under the new integration, Red Hare Analytics anticipates leveraging BOAFG functionalities to explore business opportunities with the NFT space.
Launched in April 2022, Red Hare Analytics is an Asian firm offering products and services such as NFT indexes and index-related services, NFT-related analytics, NFT data APIs, NFT-related technical development, and NFT incubation, among others.
On the other hand, BOA Financial Group is a Hong Kong-based firm that facilitates consulting services to its corporate arm, Bank of Asia Limited (BOA). BOA is a fully licensed financial group incorporated in the British Virgin Islands.
In May 2022, Red Hare launched several NFT indexes, including index RHNI to track the overall performance of general NFT markets and specific NFT indexes to track the price movement of individual NFT collections. Last month, Red Hare launched its first NFT Fear and Greed Index, facilitating a multi-dimensional indicator to gauge NFT market daily sentiments.
As part of the joint efforts to expand across Asia and the rest of the world, BOAFG and Red Hare will work together to explore further business opportunities in the NFT space. The joint team anticipates setting up a joint venture to get an NFT derivative license in the British Virgin Islands.
Moreover, BOAFG and Red Hare plan to set up co-brand NFT index funds. The two plan to run Red Hare NFT Index on financial institutions, including the Bank of Asia, among other designated platforms. While commenting about the new integration, Ian Wen, the chairman of BOAFG, remarked:
“We are witnessing a rapid growth of [the] NFT market and [the] metaverse in the past two years. With the advent of Web3, the future of [the] World Wide Web relies on blockchain technology and NFTs. We have confidence that with this partnership, Red Hare Analytics will become the pioneer in the NFT sector.”
In his turn, Anson Kwok, the founder, and CEO of Red Hare Analytics remarked that he is satisfied with the rapid development that Red Hare has experienced since its official launch earlier this year. He explained:
“We’re thrilled to enter into a partnership with BOAFG, and this partnership is an exciting first step for us in enabling the financialization of the NFT sector. It’s extremely satisfying to see the rapid development of Red Hare since our company started in April 2022.”
