Alibaba to reward NFTs in its first blockchain game

Alibaba is rewarding non-fungible tokens (NFTs) on its first blockchain game Ant Adventure, which can be played through the Alipay mobile application, one of China’s leading mobile payment providers. 

Fast facts

• Ant Adventure is powered by Alibaba’s blockchain AntChain, and takes users through a series of quizzes designed to educate the public on fraud.
• Players earn points by beating levels that can be used to trade for NFT collections.

• Rewards can be viewed on Alibaba affiliate Ant Group’s NFT market Jingtan, which has a 180-day lock period before assets can be transferred. 

• The China Banking and Insurance Regulatory Commission last week warned against investment fraud in tokens, including rugpulls in blockchain games. 

• Chinese authorities recently started a new round of financial risk scrutiny of Ant Group, since it was ordered to halt an IPO and received a hefty antitrust fine bill.
• China currently has no law or regulation on NFTs and blockchain-based games.