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Chinese e-commerce giant JD.com drops NFT series on its own blockchain

Chinese on-line retail giant JD.com is diving into the nonfungible token, or NFT, business by introducing a particular NFT series for its annual JD Discovery convention.

Using its proprietary blockchain platform, JD.com shall be distributing commemorative NFT certificates to attendees of the JDD 2021 occasion in Beijing, the Chinese information company Sina Finance reported on Wednesday.

Specifically, JD.com will issue one NFT free of charge to anybody who indicators up for the JDD 2021 convention between Monday and Nov. 22 via the WeChat mini program on the occasion’s official web site.

According to the report, the NFT series contains a set of seven NFT fashions, every containing a picture used to characterize a distinct discussion board within the JDD occasion.

Users who enroll to take part shall be additionally ready to get extra NFTs by inviting pals to enroll. “Each time one person is successfully invited to sign up, one NFT voucher will be added until all seven NFT models are collected,” the report reads.

The JDD 2021 convention will kick off on the China International Exhibition Center on Nov. 22 and can function panels on synthetic intelligence and tech innovation. Launched in 2017, the JDD convention has emerged as a significant expertise occasion in China, overlaying matters like sensible cities, the digital monetary business, provide chain innovation and others.

Related: Chinese Communist Party warns of NFT hype bubble

The information comes after some main Chinese corporations like retail giant Alibaba and expertise conglomerate Tencent introduced their own NFT initiatives as properly. Alibaba introduced the launch of an NFT market in mid-August, aiming to allow trademark holders to sell tokenized licenses to their mental property. Tencent mentioned beforehand it was planning to release its NFT trading platform.

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