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Breaking: Alibaba Launches Its NFT Marketplace

Published 08/18/2021, 03:50 AM
Updated 08/18/2021, 04:30 AM
Breaking: Alibaba Launches Its NFT Marketplace
BABA
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  • Chinese E-commerce giant Alibaba (NYSE:BABA) opens an NFT marketplace.
  • The Sichuan government approved the marketplace.
  • Alibaba already sold 8,000 limited-edition NFTs.

This week, Chinese e-commerce giant — Alibaba launched its first NFT marketplace platform with the approval of the Sichuan government.

The online auction is called “Blockchain Digital Copyright and Asset Trade”. According to reports, the Alibaba Auction’s new section lets musicians and artists sell the rights to their content via blockchain.

To be clear, the NFTs will be issued by the Sichuan Blockchain Association Copyright Committee’s New Copyright Blockchain. Despite cracking down on private cryptocurrencies, Chinese authorities are still enthusiastic about blockchain technology.

Clearly, as part of its effort to become the most advanced

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