Alibaba Cloud on Wednesday said its service will help build NFT marketplaces in a fast and reliable way, without addressing compliance issues.

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Fast facts

  • Its NFT solution includes web hosting, mobile phone message sending, and the global content delivery network (CDN) service — a feature that allows for data distribution through Alibaba Cloud’s service nodes worldwide.
  • Alibaba Cloud did not disclose whether the blockchain for the NFT marketplaces will support cryptocurrencies; nor did it reveal what blockchain they would be based on.
  • Failure to adhere to the law could attract penalties, revocation of licenses or permits, and even the closure of business.
  • Chinese state-backed blockchain company Blockchain Service Network (BSN) also launched a global public chain this year. The domestic and international blockchain systems are run separately. 

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