Alibaba extends NFT reach with its food delivery arm

Alibaba-owned Ele.me announced the launch of its first non-fungible tokens (NFTs) on Tuesday with the Hangzhou Cuisine Museum, featuring traditional Hangzhou dish cod meatballs.

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Fast facts

• The food delivery giant partnered with the Hangzhou Municipal Bureau of Commerce to promote local food and culture. 

• Users can claim the NFTs by uploading a series of original photos of traditional Hangzhou dishes.

• Ele.me’s NFTs are non-transferable, a measure implemented to abide by China’s banking and finance self-regulatory bodies’ demands. 

• Ele.me and Meituan have a duopoly on China’s food delivery industry. 

• Meituan, partially owned by Alibaba rival Tencent, has not issued its own NFTs.

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