After Alibaba, Chinese video streaming platform Bilibili on Monday has allowed non-fungible tokens (NFTs) to be transferred between customers, as per reports.
Bilibili requires a 30-day lock-in between every trade, just like Alibaba’s 180-day switch lock-in.
Bilibili is a Chinese video streaming platform popular amongst Gen-Z for permitting real-time commentary over movies known as “Danmu”.
In January, the platform launched a collection of pigeon themed PFP NFTs.
Currently, Bilibili solely allows the transfer of those pigeon-themed PFPs. Other NFTs will probably be allowed to be exchanged in May. However, it is important to mention that Bilibili might delay the transfer of NFTs or bring in new guidelines if there’s any speculative activity.
Tech corporations’ move to check on speculative exercises in NFTs is clearly to align with Chinese authorities’ stance on the asset.
Major Chinese tech giants like Tencent, Baidu, JD.com and Xiaohongshu are already in the NFT space.
Irrespective of the continuous scrutiny, China’s domestic NFT market is predicted to be quite successful at 29.8 billion yuan (US$4.68 billion) in 2026, as per Guosen Securities.
Recently, Alibaba owned online food delivery service Ele.me announced the launch of its first NFTs. The NFTs will be launched with the Hangzhou Cuisine Museum.
