NFTs Make Official Debut at Alibaba’s Taobao Maker Festival

A major e-commerce platform in China has included non-fungible tokens (NFTs) for sale at its annual festival. The annual Maker Festival brings together creators and innovators from the Taobao community. Chinese artist Huang He Shan’s collection is the first NFT series to be included at the annual Taobao Maker Festival.

Taobao has held its Maker Festival since 2016. And this year, the festival has welcomed a series of NFTs from artist Huang He Shan, who worked with blockchain gaming company Web3Games and decentralized application (dApp) platform NEAR Protocol to make it happen. Tech and e-commerce giant Alibaba owns Taobao, and sponsors the Maker Festival, which began this year on July 17.

Huang’s collection has comprised of NFT “real estate,” all encompassed within the virtual Bu Tu Garden Community. The series included ten unique buildings described as luxury single-family villas. There was also 300 so-called high-end building units, and a further 1,000 “Umbrella” NFTs. The Bu Tu Garden Community forms a part of Huang’s full NFT collection entitled “Toorich City Series,” which was created around a virtual real estate tycoon called Mr. Toorich.

The annual Maker Festival brings together creators and innovators from the Taobao community,  this is the first time the summit has included NFTs.

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