Alibaba’s NFT Marketplace Allows Content Creators to Copyright Work via Blockchain

The Chinese multinational technology giant, Alibaba Group, has launched a non-fungible token (NFT) marketplace. According to regional reports, the Alibaba NFT platform not only provides customers with the ability to purchase and sell NFTs, but the marketplace also allows people to license and sell intellectual property (IP), as it is copyrighted by blockchain technology.

Alibaba’s NFT Market Offers Blockchain Copyright Service

Alibaba is a large corporation from China that specializes in internet services, technology, and e-commerce solutions. The company, founded in 1999, quickly catapulted to being one of the biggest in the world with $257 billion in assets under its wing. Alibaba has raked in $21.8 billion in revenue so far in 2021 and the company has been involved with cryptocurrency and blockchain solutions for years now.

The billion-dollar company has launched its NFT marketplace this week according to a @g-tech/article/3145232/alibabas-new-blockchain-auction-platform-selling-star-wars-art-ledger published on August 17 by the South China Morning Post (SCMP). It’s worth noting that the Hangzhou-based tech giant also owns SCMP. The report says that the NFTs issued are minted on what’s called the “New Copyright Blockchain” and that it is operated by the Sichuan Blockchain Association Copyright Committee.

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