- Alibaba Cloud stated on Wednesday that its facilities will assist in developing the NFT marketplaces in a quick and dependable way.
- Alibaba Cloud did not reveal whether the blockchain for NFT marketplaces support the digital assets or not.
- Blockchain Service Network (BSN), an organization backed by China revealed an international public blockchain this year.
NFT Solutions By Alibaba Cloud
Alibaba Cloud, a web cloud service provider and a subsidiary of the globe’s greatest online B2B trading platform, revealed its own NFT solution.
The platform provides virtual entrepreneurs as well as creators a full-cycle structure, where one can either develop a NFT marketplace or establish a collection, promote it and then deliver it to an international user base.
Among the perks of developing on Alibaba Cloud, the organization sheds light on the integrity of the ecosystems. As per the scheme offered on the website, users will get an accessibility to everything that is required to be developed and create their own products associated with NFTs.
This will include storage capacities and database to secure services, and a cloud enterprise network and even a messaging facility. Talking about security, it is worth mentioning the integral elements of it, it includes security center, DDoS protection, and web application firewall.
The NFT facility by Alibaba Cloud is a subscription based service. The subscriptions will depend on what kind of features it will provide. Meanwhile, a few of the aforementioned features are only accessible as an element of a single subscription.
For instance DDoS protection will cost $26,826 annually. There will be a total of 8 subscriptions to choose from.
Yes To NFT, No To Crypto
Although Alibaba Cloud and Alibaba Group, the parent company, are transcontinental organizations, their roots are still in China and are heavily associated with the homeland.
As the nation maintains a heavy pressure on the crypto assets, balancing the fine line of regulations as well as market enthusiasm, has become the greatest obstacle for the large tech giants.
The NFT ecosystem in China is currently similar to a marketplace and is operated at a national level with the backing of big corporations. As of now, we can say that, the local Chinese NFT market is still infant.
Source: https://www.thecoinrepublic.com/2022/06/10/alibaba-cloud-reveals-its-first-ever-nft-service/