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.
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.
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.
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 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.
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.
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.
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.
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.