Alibaba Cloud launched an NFT solution, but it was soon delisted

The cloud business unit controlled by Chinese marketplace giant Alibaba Group has launched a new non-fungible token (NFT) solution and immediately deleted all online mentions of it.

The company’s NFT marketplace solutions, which include “web hosting, digital marketing and content delivery” infrastructure, are no longer listed on its website, according to a now-deleted Twitter post announced Wednesday.

There are also no more press releases or announcements related to NFT solutions on Alibaba’s website. Meanwhile, the solution page link still appears in Google search results and now redirects to the Alibaba Cloud solution index page.

It is unclear why the social media posts were removed and your website was taken down. While China bans cryptocurrency trading and mining, there is a regulatory gray area for NFTs in the country — something the authorities disapprove of, but has yet to issue a blanket ban.

The short-lived NFT solution will provide Alibaba Cloud Elastic Computing Service (ECS) and Auto Scaling to facilitate market growth, an integrated SMS digital marketing service for sellers to connect with buyers, and global delivery, Alibaba Cloud Content Delivery Network. Network). CDN) and Load Balancer (SLB) capable of supporting 100,000 queries per second.

The South China Morning Post (SCMP), which is owned by Alibaba, noted that the solution was aimed at customers outside mainland China, and a representative told the publication it was only available for international Alibaba Cloud sites.

The South China Morning Post also said that Alibaba affiliates such as Ant Group and Tencent Holdings have moved in the past to avoid any potential regulatory rollback, labelling their listed NFTs as “digital collectibles.” They are also available on a private blockchain and are traded/purchased using Chinese fiat currency.

Alibaba Cloud even lists a new metaverse-centric solution on its website that provides remote rendering, data analytics and artificial intelligence as well as blockchain-as-a-service as part of the private Alibaba Cloud blockchain ( BaaS).

The company noted that under the Metaverse solution, NFTs can be integrated into Metaverse built by Alibaba services, but the company does not provide any specific infrastructure.

In April, the China Banking Association, the China Internet Finance Association and the Securities Association of China issued a joint statement warning the public not to invest in NFTs because of the “hidden risks” of these assets. They also pointed out that companies should not treat NFTs as other financial products such as bonds, precious metals and other financial products.

Cointelegraph also reported in March that Chinese social media giants like WeChat and WhaleTalk have updated their policies to restrict or remove NFT platforms from their networks, citing a lack of regulatory clarity and fears of government crackdowns. However, Beijing has yet to issue a blanket ban on the industry.

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