Alibaba opens the market for art NFTs
A new platform where artists of all kinds will be able to sell Crypto Art works.
Alibaba Group, a Chinese e-commerce giant, has recently launched a new marketplace entirely dedicated to non-fungible tokens (NFT), managed by the copyright committee of the Sichuan Blockchain Association.
The Blockchain Digital Copyright and Asset Trade marketplace was conceived as a section of the already established Alibaba Auction, an online auction platform, to expand its potential and thus allow artists, writers, musicians and creatives to sell the rights to their works via blockchain.
The platform already has several Crypto assets, ready to take part in the auctions scheduled for the coming months. These include an illustration of Star Wars and a painting of the West Pearl Tower, a landmark of Chengdu, the capital of Sichuan.
But it is not the first time that the Chinese giant has dealt with the Crypto world. In fact, in June, on the occasion of the AntChain Fan Grain program of the Alipay app, Alibaba sold 8,000 limited edition NFTs dedicated to the ancient art of the Dunhuang Caves.
Hence the decision to launch a personal project, despite the initial skepticism of the Chinese authorities now transformed into enthusiasm. China’s goal would be to become the most advanced blockchain power in the world by 2025, and to do so Alibaba has chosen to start with NFT ART, a meeting point between artists and collectors.