Alibaba has launched four non-fungible tokens, or NFTs, featuring the sports of the 2022 Winter Olympics.
Embodying the traditional Chinese ink painting style, the NFT’s will depict figure and speed skating, aerial freestyle skiing, and slopestyle.
They will be available on Taobao and Tmall, Alibaba’s online marketplaces. The four badges, each having 8,888 copies, will be issued on four different dates throughout the games but will only be available to Alibaba’s 88 VIP paid members.
The first NFT sold out immediately after it was issued on Saturday. It featured a speed skater leaning into a turn.
The Alibaba NFT offerings are actually called ‘digital collectibles’, differentiating them from free market NFTs which are transacted using cryptocurrencies – an asset banned in China.
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