 (1)-1654836685.png)
The cloud business unit of Chinese marketplace giant Alibaba Group Holdings launched a new NFT solution and then promptly deleted all mention of it online.
According to a now-deleted Twitter post announcing the launch on June 8, the firm’s NFT marketplace solution included “web hosting, digital marketing & content delivery” infrastructure, but is no longer listed on its website despit
There are also no press releases or announcements related to the NFT solution on Alibaba’s website anymore, and while the solution’s webpage link still shows up in Google search results, it now redirects to Alibaba Cloud’s solution index page.
In April, the China Banking Association, the China Internet Finance Association and the Securities Association of China issued a joint statement warning the public away from investing in NFTs due to “hidden risks” of the assets.
They also noted that businesses should not consider NFTs like other financial products such as securities, precious metals, and other financial products.
Cointelegraph also reported in March that Chinese social media giants such as WeChat and WhaleTalk updated their policies to restrict or remove NFT platforms from their networks, citing a lack of regulatory clarity and fearing a government crackdown.
However, Beijing is still yet to issue a blanket ban on the sector. - Cointelegraph
