In This Article:
Bilibili, a video streaming platform popular with China’s Generation Z, Thursday announced a batch of Ethereum-based non-fungible tokens (NFTs) for sale overseas.
See related article: Resist the temptation on NFTs, Chinese state-backed developer says
Fast facts
-
Bilibili said the NFTs will be a series of auto-generated characters with different features such as faces, clothes, skin tone, headwear, and items held in the characters’ hands.
-
CryptoNatty, an NFT marketplace, has been commissioned by Bilibili to issue the NFTs on its behalf.
-
Bilibili started its NFT business last December and dropped four batches of NFTs on its own called “UPower chain” for the Chinese domestic market.
-
Due to the crypto ban in mainland China, NFTs can only be traded in fiat currency but not cryptocurrencies.
-
Major Chinese tech firms usually do not allow for trading and limit transfer of NFTs due to authorities’ rhetoric on “speculative” activity.
-
Since 2020, Bilibili has expanded its overseas video streaming branch in Thailand and the Philippines.
-
Bilibili did not comment on whether the NFT relates to its bigger overseas plans.
See related article: Central and Southeast Asia among fastest-growing regions in global crypto adoption: Chainalysis