Alibaba launches NFT collection dedicated to the 2022 Winter Olympics

They will be available on Alibaba’s Taobao and Tmall online marketplaces from 5 to 20 February

08.02.2022 - 14:40

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What’s new? Alibaba Group Holding has launched four non-fungible tokens depicting the sports of the 2022 Beijing Winter Olympics. The virtual tokens, designed in the traditional Chinese ink painting style, depict speed skating, aerial freestyle skiing, slopestyle, and figure skating. .

Information on the Asia One website

How can NFT be purchased? The four tokens, each created in 8 888 copies, will be issued on different dates during the Olympic Games. NFTs will only be available to adult members of Alibaba’s 88Vip program, who can purchase them using a credit card for 0,01 yuan (0,16 cents). The first collection of NFTs, featuring a speed skater, was sold out shortly after the weekend release.

What is the situation with NFT in China? Ant Group, a fintech arm of Alibaba, and Tencent, a social media and gaming giant, were the first tech companies to adopt NFT, releasing a collection of tokens in the summer of 2021. In August the same year, Alibaba, backed by the Sichuan provincial government, launched an NFT marketplace for the sale of copyrights.

JD.com and Baidu followed suit with their digital collectibles. The state-run Xinhua news agency followed the same path. On Christmas Eve, it gave away more than 100 000 digital collectibles with photos of historic moments from the year 2021.

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