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NEM (XEM), a cryptocurrency project building a network designed for better-performing smart assets, has partnered with GUBI, China’s largest online artwork trading market and artwork database, to develop a review and identity system.

According to the announcement, GUBI is positioned as a professional search engine for the Chinese art industry. Included in this search engine are 33 million pieces of antique data, more than 6,600 professional antique e-books, 800 experts and 2,000 academics.

In cooperation with NEM, GUBI hopes to create a more credible database and artwork market. The partnership also aims to promote the development and popularization of blockchain technology in the art industry, and build a more secure environment for the adoption of blockchain.

Ultimately, NEM’s platform will be leveraged for an artwork identity system, a user and expert credit system, and online reviews of GUBI.

XEM is currently up 4.1% over the last 24 hours to $0.073405, giving the altcoin a $660.6 million market cap and making it the 13th largest coin in the AltDex 100 Index (ALT100), a benchmark index for large-cap cryptocurrencies and tokens.

More: NEM announces strategic cooperation with China’s largest artwork database GUBI
Similar: Xarcade Is Bringing Blockchain Gaming to NEM (XEM)

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.