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China’s Alibaba Cloud Quietly Launching International NFT Solutions

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The cloud computing division of e-commerce giant Alibaba Group has launched new services for NFT platforms outside of mainland China.

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The features Alibaba Cloud will provide include web hosting, digital marketing, and content delivery. reports at SCMP (owned by Alibaba) on June 9th.

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NFT and Metaverse services are now listed on Alibaba Cloud’s international website, according to an Alibaba spokesperson. The company recently launched Metaverse-related products, including remote 3D rendering, data analytics, artificial intelligence, and blockchain as a service (BaaS).

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Alibaba Cloud is trying to pave the way for an international market dominated by Amazon Web Services. On the mainland, however, Alibaba Cloud holds a market-dominant 37 percent revenue share in China’s $27.4 billion cloud infrastructure services sector.

NFTs are a legal gray area in China, a country that has already criminalized the mining and trading of cryptocurrencies. The firm posted the NFT announcement on Twitter on June 8, but it has since been taken down. There was also no explicit press release that could indicate the use of pressure from the Beijing regime.


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Alibaba subsidiaries Ant Group and Tencent Holdings were forced to rebrand their NFT platforms as “digital collectibles” last year, perhaps for the same reason.

NFT market update

The move comes as the NFT markets have been hit hard during the crypto bear market. According to the market tracker, since the beginning of May, the number of such sales has halved. Nonfunbible.com. The daily sales figure for June 9 was just below 20,000, while it was above 40,000 at this time last month.

The platform reported about $24 million in daily sales on June 9 and almost $57 million on May 9. Active NFT wallets also dropped to around 17,000 last week from over 90,000 in November. Cheaper Ethereum prices have not carried over to the NFT markets as sales continue to fall.

Salesforce NFT Cloud Platform

San Francisco-headquartered cloud software company Salesforce also announced a private pilot program for a new service called NFT Cloud. This will allow users to create and manage NFTs for brand engagement and marketing purposes. reports.

Adam Kaplan, senior vice president of emerging technology at Salesforce, told TechCrunch that company executives are asking for help with Web3.

The platform will run on a smart contract based on the Proof-of-Stake blockchain, but it is not specified if it will use the existing solution. Salesforce started working on a blockchain product in 2018 and introduced development tools the following year, but details are scarce.

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Credit : cryptopotato.com

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