Construction giant XCMG chooses Conflux for NFTs and future global blockchain applications

XCMG Construction Machinery Co., Ltd., the world’s third largest construction machinery manufacturer, announced a partnership with Conflux, a leading public blockchain network, and Zen Spark Technology Pte Ltd, a Singapore-based blockchain and fintech company. The partnership aims to leverage blockchain and Web3 technologies to explore more international use cases.

Build meets Web3

The partnership between XCMG, Conflux and Zen Spark Technology Pte Ltd will leverage the strengths of all three companies to explore new scenarios for the use of blockchain and Web3 technology in the global market. By combining XCMG’s extensive global network with Conflux’s cutting-edge technology and Zen Spark’s fintech expertise, the three companies aim to develop new use cases for blockchain and explore the potential of Web3.

XCMG currently ranks third in the world’s top 50 construction equipment manufacturers, according to KHL Group’s Yellow Table 2022 ranking. In the first half of 2022, despite obstacles, XCMG expanded into overseas markets and achieved export revenue of RMB 12.488 billion ($1.83 billion), a year-on-year increase of 157.28%. As a world leader in the construction machinery industry, XCMG’s vision is driven by long-term investment and high-level innovation in research and development of the technology surrounding the equipment.

The partnership between XCMG, Conflux and Zen Spark Technology Pte Ltd is a significant milestone in the development of blockchain technology and its application in traditional industries. As the world becomes increasingly interconnected, the ability to leverage blockchain and Web3 technologies to drive innovation and explore new business models is more important than ever.

Fan Long, founder of Conflux commented on the partnership,

“We are delighted to partner with XCMG and Zen Spark to explore new opportunities in the global market. With our pioneering blockchain technology, and Zen Spark’s expertise in fintech and blockchain, we are well positioned to create new solutions and explore new applications for blockchain and Web3 technology. This partnership is a testament to our shared commitment to innovation and our belief in the potential of blockchain to transform traditional industries.”

Grace, CEO of Zen Spark Technology Pte Ltd added,

“Zen Spark is excited to partner with XCMG and Conflux on this initiative and we are confident that our fintech and blockchain expertise will complement the strengths of our partners. We look forward to exploring new opportunities in the global market and contributing to the development of innovative solutions that benefit both companies and consumers.”

At the CONEXPO-CON/AGG show in Las Vegas, XCMG announced their entry into Web3 by revealing the Bored Ape Yacht Club NFT #3489 (BAYC #3489) as the brand’s Metaverse ambassador. In addition, XCMG and Conflux plan to issue their first NFT collection for overseas markets in the near future. As XCMG continues to explore new opportunities in the blockchain and web3 space, the company is excited to leverage its partnership with Conflux and Zen Spark Technology Pte Ltd and their expertise in distributed ledger technology and fintech to bring innovative solutions to the global market.

The partnership between XCMG, Conflux and Zen Spark Technology Pte Ltd will be closely watched by industry experts and investors as the three companies explore new opportunities and drive innovation in the global market. With the power of blockchain and Web3 technology, the possibilities are endless and the future looks bright for XCMG, Conflux, Zen Spark and the global community.