NFT Collections – Digitized by Alibaba Group Holding and Tencent Holding

2021.10.28

Their offerings of nonfungible tokens have been called digital by Alibaba Group Holding and Tencent Holdings. Months after debuting the NFT Wallpaper for Users’ Payment Code Pages in June, it now refers to its latest NFT artworks as suchA spokesman of AntChain said the Chinese fintech giant’s blockchain technology platform is firmly opposed to any sort of illicit activity. Alibaba and Tencent have rebranded their NFT features, which was criticized by many. Alipay, the mobile payment app run by Alibaba, changed the name of NFT collections. Alipay has been actively rolling out NFT artworks built on its own AntChain. In June and August NFT Wallpapers were sold by it for its payment interface. Those two tech companies have renamed both of their nonfungible token offerings as Digitized by Alibaba Group Holding and Tencent HoldAlipay has labeled the latest NFT artworks, including digital paintings or virtual versions of antiques, as digital collectibles. Alibaba holds the parent company of the South China Morning Post. Ant Group opposes the blockchain platform of the Chinese fintech giant. The links are played down by Chinese technology giants to nonfungible tokens amid investor concern that this booming area of the crypto universe may become tooTencent Holdings Ltd was changed from Active to Passive. Ant Group Co. AntChain changed the name of their NFTs, to digital collectibles. The switch was made on September by AntChain.

 

 

Tencent Says It Does Not Tolerate Illegal Activities Related To Cryptocurrencies:

A Google search for digital collectibles revealed approximately a dozen items for sale. Tencent’s NFT platform launched in August and now has a digital collectible called Huanhe. Tencent stated in a statement that “any illegal activities, including those related to cryptocurrencies,” and that it does not allow such activities. The data units maintained on a blockchain are also maintained by NFTs.  They ensure that each digital asset is distinct, unchangeable, and safeSince digital items are authenticated via a decentralised blockchain system, they may be owned in the same way as physical items can — aTheir efforts to avoid any potential dispute with Beijing mirror their efforts to prevent irrational capital expansion. The website AntChain sets strict standards for the content of digital collectibles and requires real name authentication for the buyers in order to minimize fraud. Huanhe also removed references from the app. Having a fully compliant platform that bans the transfer of digital products between users, requires all users to use their real name, and strong internalIn a reply to an email, I stated that it does not tolerate illegal activities, including those related to cryptocurrencies. Reselling features for users has been embraced by the tech giants in China amid regulatory concerns. The state media expressed strong concerns about the new form of digital collectibles. Alibaba’s flea market is showing no results when you search for the word NFT. A search for digital collectibles turned up approximately a dozen items for sale. Between the two of the items have been classified digital collectibles by Tencent. Tencent stated in a statement that it would not tolerate illegal activities related to cryptocurrencies. They are generally units of data stored on a blockchain.  This allows for each digital asset to be unique, immutable and secure. This is so because digital items are authenticated by a decentralised blockchain system that they can be owned much like physical items – a featureTheir effort to steer away from any potential conflict with Beijing reflect the rebranding actions taken by Alibaba and Tencent. A person familiar with the matter said, fifteen. Tencent did the same. Tencent and AntChain did not mention monetary attributes such as payment. Both of them do not allow the sale of their NFTs for a profit, though local media reported that some of AntChaThe owners must hold their NFTs for at least 180 days before they can be transferred for free to another party. I am speculating the tech companies are moving ahead of another possible crackdown after the government banned all crypto related transactions this year and vowedIt is a grey area in China where any player must tread carefully to avoid unwanted scrutiny. Ant and Tencent’s NFTs run on blockchains controlled by the two companies.

 

 

The Chinese Cryptocurrency Entrepreneur Justin Sun Purchased a Digital Avatar for Ten Dollars:

According to an article published by the Securities Times, a national financial newspaper supervised by the Chinese Communist Party mouthpiece People’s Daily was comThe Chinese cryptocurrency entrepreneur Justin Sun purchased a digital avatar for ten dollars. Five million copies sold in September, and a record breaking selling of digital photo collage Everydays for 69. He collected 34 million in March. One more Chinese e-commerce giant has been changed from Active to PassiveIt is JD. The company, Com, is giving away free NFTs featuring its mascot to participants at its annual technology conference, JD Discovery. The JD is redeemed by the JD. The digital currencies were minted on the tech giant’s own blockchain, the JD Zhizhen chain. A Chinese state-run newspaper warned in NFTs last month that a potential bubble may exist.  This is the same thing as big tech companies. The article was published by the Securities Times, a national financial newspaper supervised by the Communist Party mouthpiece People’s Daily. The article stated that Justin Sun, a Chinese cryptocurrency entrepreneur, had purchased a digital avatar for ten dollars. In June the company launched its first digital collectibles through a mini program called Fan Grain embedded in Ant’s Alipay app. It was prohibited from being carried out between users, according to a Tencent spokesperson. We tolerate any activity that is illegal and involved in crypto currencies. 2021 Bloomberg L. P. You can go from active to passive.