Chinese video-sharing platform Bilibili announced that it is launching its first-ever collection of NFTs. To avoid the regulatory scrutiny that is often imposed on NFTs in the country, the assets within the collection are being explicitly branded as a ‘digital collectibles’ with no involvement of cryptocurrencies.
The collection features 2,233 digital collectibles, all of which are attributed with a unique image of a cartoon pigeon, as well as a unique code which is stored on the company’s own blockchain network, UPowerchain. Those wanting to get hold of a one must sign up to the draw which was recently launched on the company’s site, however it is strictly only open to those who are aged 14 and above, level 6 in engagement and above, and visited the website every day in 2021.
The lucky winners of the Bilibili draw will be able to make and sell physical products based on their unique pigeon image, as well as create digital artwork for non-commercial purposes. The company also added that it would soon roll out a feature which would allow holders to transfer the asset to other people for free.
Although it is yet to be confirmed, it is thought that the collection being centred around an image of a pigeon stems from the term “release the pigeon,” which is not only a Chinese idiom for failing to keep a date or standing someone up, but is also often seen in user comments on the site when a Bilibili creator is tardy about posting new videos.
Bilibili are not the only company in China to delve into the world of NFTs, as other Chinese tech firms such as Alibaba and Tencent have also released their own NFT collections under the term ‘digital collectibles.’
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