Huawei’s cloud computing arm Tuesday airdropped the brand’s first batch of non-fungible tokens (NFTs), making it the latest Chinese tech giant to join the trend.

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Fast facts

  • The airdropping of NFTs based on the brand’s mascot is a part of Huawei Cloud’s branding campaign.
  • The NFTs are based on Huawei’s blockchain — the “petal chain” — despite Huawei not publicly stating that it will launch on the NFT platform.
  • The airdrop was fully bought out at press time.
  • In a research report in April, Chinese brokerage firm Guosen Securities noted the country’s NFT market would be valued at 29.8 billion yuan (US$4.68 billion) if regulators allowed reselling. Without that, it would only be worth around 6 billion yuan (US$937 million).

See related article: China’s Communist Party wants to regulate NFTs