By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Sign In
Web3,Blockchain & Metaverse Education Media PlatformWeb3,Blockchain & Metaverse Education Media Platform
  • Home
  • News
    • Cryptopedia
      • Blockchain News
      • Bitcoin News
      • Ethereum News
      • Altcoin News
    • Latest Metaverse & NFT News
      • Metaverse & NFT Games
      • Virtual Land
    • Exchanges News
    • Policy & Regulation
  • NFT Collection
    • NFT Review
    • Game Review
    • Submit NFT Project
  • Press Release
    • Sponsored Article
    • Submit Press Release
  • Interviews
    • Opinion
  • Web Stories
  • Expert Alliance
    • About Expert Alliance
    • Expert Alliance Benefits
    • Experts List
    • Apply for Expert Alliance
  • Guide
  • Videos
  • Events
    • Metaverse Events
Search
  • Advertise with us
  • Media Kit
  • 365 Media Plan
  • Submit Press Release
  • Submit NFT Project
© 2022 NFTStudio24.com News Network. All Rights Reserved.
Reading: Alibaba Cloud launches NFT services and then backs off
Share
Web3,Blockchain & Metaverse Education Media PlatformWeb3,Blockchain & Metaverse Education Media Platform
Search
  • Home
  • News
    • Cryptopedia
    • Latest Metaverse & NFT News
    • Exchanges News
    • Policy & Regulation
  • NFT Collection
    • NFT Review
    • Game Review
    • Submit NFT Project
  • Press Release
    • Sponsored Article
    • Submit Press Release
  • Interviews
    • Opinion
  • Web Stories
  • Expert Alliance
    • About Expert Alliance
    • Expert Alliance Benefits
    • Experts List
    • Apply for Expert Alliance
  • Guide
  • Videos
  • Events
    • Metaverse Events
Have an existing account? Sign In
Follow US
  • About us
  • Advertise with us
  • Media Kit
  • 365 Media Plan
  • Submit NFT Project
  • Careers
  • Contact us
  • Privacy Policy
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
HOME > News > LATEST NFT NEWS & METAVERSE > Alibaba Cloud launches NFT services and then backs off
LATEST NFT NEWS & METAVERSENews

Alibaba Cloud launches NFT services and then backs off

news room
Posted news room July 6, 2022 331 Views 5 Min Read
Updated 2022/07/07 at 12:50 PM
Alibaba Cloud NFT services backs off
Alibaba Cloud NFT services backs off
SHARE

Alibaba Cloud, a subsidiary of the Chinese company Alibaba Group, recently launched its own NFT solution services for creators and developers to facilitate in NFT marketplaces. However, now the company seems to have backed off with no mention of NFTs on its website. 

Contents
Why did Alibaba Cloud delete its tweets and website mention?China’s NFT and crypto restrictionsFinal words

With NFTs increasing in popularity despite the declining market, Alibaba Cloud introduced its own NFT solutions to cater to  “web hosting, digital marketing & content delivery” on Wednesday. The announcement was made via Alibaba Cloud’s official Twitter account. 

Ali baba cloud deleted tweet
Ali baba cloud deleted tweet

However, suddenly, the company deleted all the traces of the NFT service from the website and its official account. Although the website is still appearing on google search results, the company behind it hasn’t mentioned its existence at all. 

This means people who weren’t following Alibaba Cloud’s official account might not know the existence or disappearance of NFT solutions that were once launched with great anticipation.

Alibaba Cloud delete its tweets
Alibaba Cloud delete its tweets

Why did Alibaba Cloud delete its tweets and website mention?

Alibaba Cloud has given many details as to why it deleted the tweets and website mentions. On the official website, there is no mention of an NFT service in the Solutions tab, and if you search NFT on the search bar, nothing comes up. 

The company seemed to have everything planned for the marketplace and even shared 3 NFT market solutions for creators namely, web hosting services, digital marketing, and Global delivery. Now, there seems to be no trace of it on the website. 

Prior to the disappearance, the South China Morning Post owned by Alibaba wrote an article explaining that the NFT solution service was made for the international website to cater to customers living outside China.

After exploring and researching, only one possibility might explain the reason for the NFT solution services’ disappearance. 

Alibaba Cloud launches NFT services and then backs off
Chinas NFT and crypto restrictions
Chinas NFT and crypto restrictions

China’s NFT and crypto restrictions

China’s NFT and crypto restrictions have become harsher than any other country. As a leading technology-driven country, China is home to many tech giants who have brought a revolution to the Chinese economy. 

Following the launch of blockchain technology, China was one of the few countries to adopt this new technology and further develop itself in it. However, due to a lack of regulation and authority, the Chinese government banned crypto and NFT trading in the country. The digital economy seemed to be sabotaging the overall economy and empowering illegal activities within the country.

Recently, China’s tech giants presented a development plan for “digital collectibles” without crypto trading to the Chinese government in hopes to operate NFTs in the country. Alibaba was also part of that list and is quite involved in this case. 

The sudden disappearance of the NFT solution service might have something to do with these developments. All the press releases and announcements have been deleted or archived by the company, so anyone who wasn’t following the official account might not know its existence.

Final words

Alibaba Cloud still has mentioned the metaverse-based service solutions for customers on its official website, which makes it even more confusing as to why it chose to delete the traces of NFTs. 

Nonetheless, the assumption that the company might have deleted it as a safety measure to avoid any complications with the case in China should be taken with a grain of salt since Alibaba Cloud has yet to explain why it backed off after the successful launch. 

On the other hand, China’s tech giants still await the decision by the Chinese government which is said to be still under review.

Sign Up For Daily NFT Drops

Don't miss the next NFT drops!!!
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Previous Article NFT Projects popular Tezos marketplace 6 NFT Projects currently popular on the Tezos marketplace
Next Article metaverse dubai Dubai is working to extend regulations for its metaverse
Leave a comment

Leave a Reply

You must be logged in to post a comment.

Don’t miss the NFT Drops! Sign up Now

I have read and agree to the terms & conditions

Latest News

Azukis Twitter account hackers steal 750K in half an hour
Azuki’s Twitter account hackers steal $750K in half an hour
LATEST NFT NEWS & METAVERSE News January 29, 2023
Michael Saylor says Bank of America has embraced Bitcoin
Michael Saylor says Bank of America has embraced Bitcoin
BITCOIN NEWS News January 29, 2023
Blockchain Fest Singapore 2023 nftstudio24
FINEXPO Presents Blockchain Fest Singapore 2023
Blockchain Fest Singapore 2023 will be The Largest Event in Asia
EVENTS PRESS RELEASE January 28, 2023
Join us
Ad imageAd image

You Might also Like

Azukis Twitter account hackers steal 750K in half an hour
LATEST NFT NEWS & METAVERSENews

Azuki’s Twitter account hackers steal $750K in half an hour

January 29, 2023
Michael Saylor says Bank of America has embraced Bitcoin
BITCOIN NEWSNews

Michael Saylor says Bank of America has embraced Bitcoin

January 29, 2023
Bidstack signs a deal with SimWin Sports for virtual league
LATEST NFT NEWS & METAVERSENews

Bidstacks signs a deal with SimWin Sports for virtual league

January 28, 2023
Investor Josef Holm visits India with his Web3 Venture fund
India's Web3 & Metaverse NewsNewsWEB3

Investor Josef Holm visits India with his Web3 Venture fund

January 28, 2023
//

NFTStudio24 delivers the latest NFT news to its global audience. We are committed to reporting mainstream and emerging talent via exclusive press releases, podcast interviews, NFT rankings, and much more.

GET IN TOUCH

  • About us
  • Advertise with us
  • Media Kit
  • 365 Media Plan
  • Submit NFT Project
  • Careers
  • Contact us
  • Privacy Policy

Experts Alliance

  • Experts Alliance
  • About Alliance
  • Alliance Benefits
  • Membership requirements
  • Apply Alliance
//

Subscribe to our newsletter to get our newest articles instantly!

I have read and agree to the terms & conditions
Web3,Blockchain & Metaverse Education Media PlatformWeb3,Blockchain & Metaverse Education Media Platform
Follow US

© 2022 NFTStudio24.com News Network. All Rights Reserved.

Removed from reading list

Undo
Join us metaverse Join us metaverse
Welcome Back!

Sign in to your account

Register Lost your password?