Ele.me, which is a subsidiary owned by Alibaba announced that they have launched their first NFT token on Tuesday. The launch of this NFT was with Hangzhou Culinary Company featuring an overview of cabbage dishes with meatballs.
The launch of this NFT as a complement aims to promote local food and culture. Therefore, the food delivery giant, which is also a subsidiary of Alibaba, has entered into a partnership with the Hangzhou Municipal Bureau of Commerce.
By posting a series of original images of classic Hangzhou food, consumers can claim NFT. NFT Ele.me is stated to be non -transferable. It is a step taken to comply with China’s banking agency standards and financial self -regulation.
So far Ele.me and Meituan are the companies that monopolize the food delivery market in China. Meituan, which is partly owned by Tencent, a competitor to Alibaba, has yet to release its own NFT.
Earlier, at the end of last year, the vice chairman of the global retail giant, Alibaba, Joe Tsai gave a 'hint'. Where his statement has sparked speculation among crypto market players as well as stock investors.
At the same time, Non-Fungible (NFT) tokens have become very popular among Chinese artists and businesses despite the uncertainty of government behavior.
