Alibaba-owned Ele.me announced the launch of its first non-fungible tokens (NFTs) on Tuesday with the Hangzhou Cuisine Museum, featuring traditional Hangzhou dish cod meatballs.
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Fast facts
- The food delivery giant partnered with the Hangzhou Municipal Bureau of Commerce to promote local food and culture.
- Users can claim the NFTs by uploading a series of original photos of traditional Hangzhou dishes.
- Ele.me’s NFTs are non-transferable, a measure implemented to abide by China’s banking and finance self-regulatory bodies’ demands.
- Ele.me and Meituan have a duopoly on China’s food delivery industry.
- Meituan, partially owned by Alibaba rival Tencent, has not issued its own NFTs.
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