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Last week, each crypto news sparked with “NFT Marketplace launch of one of the Multinational Giant, Alibaba Group”. Yes!
Chinese Technology Giant, Alibaba who is specialized in internet services and eCommerce solutions has launched a new NFT Marketplace that allows trademark holders to sell NFTs which represent licenses to their copyrights.
Let us have a deep look at the reasons behind the launch of NFT Marketplace by Alibaba.
Alibaba NFT Marketplace is a platform that not only offers customers the ability to purchase & sell NFTs but allows all to license & sell intellectual property (IP) as it is copyrighted with blockchain technology.
Thus it is an exclusive platform allowing customers to buy, sell NFTs and also facilitates getting the license to sell intellectual property (IP).
Alibaba Group Holding Limited, a well-known multinational company that specializes in eCommerce, internet, technology, and retail was founded by Jack Ma in Hangzhou, Zhejiang on 28th June 1999.
In 2020, Alibaba was rated as the 5th largest Artificial Intelligence company and the 6th highest global brand valuation.
Industry Type: Technology Company
Founded Year: 1999
Founder: Jack Ma
Area Served: Globally
Headquarters: Hangzhou, Zhejiang.
Alibaba's revenue is $21.8B in 2021 and now the company is involved in cryptocurrency & blockchain solutions.
On August 17, 2021, the billion-dollar company launched NFT Marketplace and the report says that the NFTs issued are minted on New Copyright Blockchain which is operated by Sichuan Blockchain Association Copyright Committee.
This Marketplace hopes to focus on writers, musicians, game developers, and artists.
Already the marketplace is live and hosting several NFTs are set to be auctioned next month.
Anyone can participate in Alibaba NFT Marketplace auctions by posting a deposit of 500 Yuan. All the upcoming auctions are set with a reserve price of $15 each.
The buyers can view their collections through Bit Universe, a crypto Portfolio application that is integrated with WeChat.
In most of the NFT Marketplaces, many NFTs do not articulate what rights purchasers have, with NFT appearing to depict unlicensed Star Wars fan art. But this biggest announcement of Alibaba has embraced nonfungible tokens in many organizations
Alibaba owned an E-commerce platform, Taobao that showcased NFTs at the annual Maker Festival for the first time that celebrated Chinese art and entrepreneurship.
One of the services of Alibaba marketplace is known as "Blockchain Digital Copyright and Asset-Trade" which allows any type of content creators to copyright materials through blockchain and sell those rights.
Basically, copyrights are tokenized & only the owners of tokens truly own the content.
The report from SCMP says that Alibaba NFT Platform "already has numerous products listed and all those will not see auction until next month.
In addition, Alibaba’s fintech affiliate Ant Group is also planning to jump into the NFT Marketplace industry. This Alibaba NFT Market is also connected with Tencent Holdings
As the concept of NFT has been ruling the crypto globe for years and there are already many NFT Marketplaces playing a vital role.
As a whole, Alibaba is in a stage to face many challenges as the other markets have already raised millions of dollars in the year 2021 and some of those involve Rarible, Opensea, and Makersplace. In addition, crypto.com, the FTX branded NFT marketplace, will also create huge competition for the survival of Alibaba NFTs into the crypto globe.
Hope you all have got a little knowledge about Alibaba’s NFT Marketplace launch.
Bitdeal - Leading NFT Marketplace Development Company that always has a keen eye on the cryptocurrency industry and adopts the new innovations, technologies, and tools earlier in the market to serve our clients all over the globe. We provide custom NFT Marketplace Script to launch your own NFT Marketplace with features as per your business requirements.
NFT developers also provide NFT Marketplace Clone Script through which you can launch your own NFT Marketplace like any of the top-performing NFT Marketplaces such as Opensea, Rarible, Binance NFT Marketplace, and more.
On those lists of marketplace clones, some of our top selling NFT Marketplace Clone Scripts are as follows :
As our developers do continuous R & D, they have researched the NFT Marketplace that Alibaba has recently launched in the past week. So, now we also provide a clone of Alibaba’s NFT Marketplace through which you can launch your own NFT Marketplace for your eCommerce, Retail, or any other business verticals.
The complete technical support to develop an NFT Marketplace like Alibaba NFT Marketplace from the scratch with all the features like that platform which make you reach a huge audience within a short span of time is known as Alibaba NFT Marketplace Clone Development. Launching an NFT Platform like Alibaba’s NFT Marketplace can build brand identification and recognition faster and easier.
We have NFT Experts who can develop Alibaba NFT Marketplace Clone Script to launch your own NFT Marketplace Platform.
Alibaba NFT Marketplace Clone Script is a complete decentralized, fully tested source code that inherits all the features and plugins as in recently Alibaba’s NFT Marketplace and also which is customizable according to the business requirements to launch your own NFT Marketplace like Alibaba’s NFT Marketplace.
Bitdeal develops, deploys, and tests Alibaba’s NFT Marketplace Clone Script in Beta version before the launch of the platform to avoid vulnerabilities while launching.
Listed here are the features of our Alibaba NFT Marketplace Clone Script.
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Hey Peeps !! This is Anushya an enthusiastic and energetic individual who persists in the field of Blockchain and Cryptocurrency for more than 4 years. At present, surviving as a Business Consultant and Blogger at Bitdeal. I am fascinated towards the upcoming trends and technologies in the digital globe. Stay tuned with us to move forward with innovations in the crypto industry !!
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