No NFT for Alibaba – Alibaba Cloud takes one step forward, then two steps back, regarding its new NFT product. He first announces the launch of it. Then he tries to forget it. The official information on its new offer have indeed simply faded away.
Alibaba Cloud launches an NFT solution… which disappears
Alibaba’s cloud division had announcement in a tweet from June 8, 2022, the launch of an NFT solution.
Alibaba Cloud customers can use this new product, to build their display of non-fungible tokens. The offer includes an infrastructure web hosting, digital marketing and content delivery “.
This news should normally delight the crypto ecosystem. Alibaba Cloud, however, sowed the doubt on the actual launch of its NFT solution by deleting its tweet.
Furthermore, the official information on this new product are made rare on the Internet. Even the Alibaba Cloud website doesn’t have a press release about it.
Google still indexes the link to the new product page. This link, however, redirects to a page on “Alibaba Cloud Best Practices for Financial Services”.
Backtracking from Alibaba Cloud: A riddle and assumptions
Did Alibaba Cloud finally do reverse regarding the launch of its NFT solution ? In the absence of an official press release, the answers put forward are only simple hypotheses.
Alibaba Cloud may have decided to postpone the launch of its NFT solution, for technical reasons. The blur on the Chinese regulations on NFTs was also able to motivate this decision.
China has not yet taken a firm position on the sector. The country might as well ban them from NFTs, or them strictly supervise. For example, the use of state infrastructure could become mandatory for NFT projects in China.
Pending clear NFT regulations, the uncertainty is of great concern to tech giants in China. This fear has already prompted WeChat to delete accounts from NFT platforms majors like Xihu No.1. The Dongyiyuandian platform has also borne the brunt of these prudential measures.
Will Alibaba Cloud provide an official explanation for the removal of information regarding its NFT solution? This mystery reminds us that China can certainly take full advantage of the rise of web3. The country can nevertheless shoot itself in the foot in the absence of clear and favorable regulations for the sector.
No NFT on Alibaba? China is definitely very ambiguous vis-à-vis the crypto industry. And you? Is it yes or no ? In the affirmative, register without delay on the FTX benchmark exchange platform. You benefit from a lifetime reduction on your trading fees (affiliate link, see conditions on official website).