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Alibaba’s e-commerce platform AliExpress to launch NFTs for outside China sales

source-logo  forkast.news 09 June 2023 04:06, UTC

AliExpress, the global online retail platform of China’s e-commerce giant Alibaba Group, will launch 5,555 NFTs on June 25, in partnership with NFT project “the Moment3!”.

Fast facts

  • The partnership was first announced on AliExpress’ official Twitter account on Thursday. The post was later removed by AliExpress, but can still be seen on the Twitter page of its partner “the Moment3!.
  • The Moment3! is an NFT project that plans to connect with real-world businesses and grant NFT owners benefits and exclusive rights beyond mere collectible values, according to the Discord channel of the project.
  • The planned NFT launch is not AliExpress’ first step into the crypto space. On May 4, AliExpress was integrated into Shopping.io, a platform that allows users to pay their purchases on major e-commerce stores with cryptocurrencies.
  • AliExpress now accepts multiple cryptocurrencies as payments, and added memecoin Floki to the list on May 31.
  • AliExpress is a global e-commerce platform owned by Alibaba Group. Although the company is headquartered in China, it does not sell to customers in mainland China
  • The Chinese government banned all cryptocurrency transactions in September 2021, and has issued multiple warnings on the risks of NFT speculation