Saturday, December 9, 2023

Alibaba Group launches new NFT solution then deletes all online mention of it.

Alibaba Group Holdings cloud business unit deleted all mention of its latest product – a new NFT solution – promptly after launching it. The Chinese e-commerce giant’s NFT marketplace solution included web hosting, and digital marketing & content delivery infrastructure. However, its no longer listed on the company’s website.

Moreover, there are no press releases or official statements and announcements about Alibaba’s NFT solution. But the solution’s webpage link still shows up in Google’s search results. It redirects the user to Alibaba Cloud’s solution index page.

Alibaba Cloud came up with three different products:

  1. The Alibaba Cloud Elastic Compute Service (ECS) and Auto Scaling – helps developers and creators build the NFT marketplace web servers with ease and flexibility.

ii.Digital Marketing Service – this integrates SMS to help creators develop efficient marketing channels to reach customers.

iii.Global Delivery Service – this is described as a high performance NFT delivery service on Alibaba Cloud nodes. It supports up to 100,000 queries per second.

The products were intended for customers outside of China for Alibaba Cloud’s international website only. Alibaba may have deleted details about its latest NFT product offering because of the Chinese government’s strong warnings about the dangers of trading in non-fungible tokens. According to Chinese media reports, the company’s affiliates such as Ant Grou and Tencent Holdings have been trying to avoid any potential regulatory pushback in the past. They have done so by branding their listed NFTs as digital collectibles. The collectibles are offered on private blockchains and are traded using Chinese fiat currency.

But Alibaba Cloud has a new Metaverse-focused solution listed on its web portal. It offers remote rendering, data analytics and AI, as well as Blockchain as a service (BaaS).

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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