The partnership will enable HGP to co-market and co-manage NFT auctions utilising ViciNFT’s enterprise digital asset management and blockchain engineering services. Credit: A M Hasan Nasim from Pixabay.

Heritage Global Partners (HGP) has joined forces with digital asset manager ViciNFT to co-market and co-manage non-fungible token (NFT) auctions.

HGP will co-market and co-manage NFT auctions utilising ViciNFT’s enterprise digital asset management and blockchain engineering services.

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ViciNFT specialises in NFT creation and management, smart contracts, blockchain technology development, and cryptocurrency-based auction management services.

Heritage Global CEO Ross Dove 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.”

“We look forward to long term collaboration with ViciNFT Corporation as the marketplace expands.”

Commenting on the tie-up, ViciNFT partner Jon Fisher added: “HGP is the marquee brand for enterprise auctions.

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“This partnership has a number of notable pathways to growth, with significant revenue potential we’re well positioned to capture.”

Heritage Global is asset services company specialising in financial and industrial asset transactions.

It provides valuation, acquisition, disposition, and lending services for surplus and distressed assets.

Under the partnership, ViciNFT will include Heritage as its preferred marketplace for its auctions.

The first auction under this partnership includes the release of a second series of Michelle Phillips ‘Original California Girl’ NFTs.

The first auction, which raked in $100,000 in revenues, was carried out in June this year by the firm.

The companies said that they will work together to tap the $2.5bn NFT market among digital collectibles recorded to the blockchain.