Chinese E-Commerce Giant JD.com Reveals NFTs

JD.com’s tech arm revealed its non-fungible token (NFT) plans, following on the heels of rival Alibaba.

• JD Technology is offering seven free limited-edition NFTs commemorating its annual conference, JD Discovery, according to a WeChat post on its official account.
• The NFTs, JD’s first, are minted and released on JD Technology’s own blockchain, dubbed JD Chain. The company says it has developed “an NFT technical service platform” on which users can store, verify, circulate and trace NFT collections.
• In August, Tencent and Alibaba launched their own NFT platforms.
• The seven NFTs feature JD.com’s mascot, each representing one of the company’s key sectors; retail, tech, logistics, health, finance and smart cities.
• One NFT will be given for free to anyone who signs up for the company’s Discovery conference between Oct. 19 and Nov. 22. If they invite more people to attend, they can collect more NFTs to form the full set.
• The seven NFTs will not be released after Nov. 22, but users will be able to transfer them to others.
• JD plans to apply its NFT platform on copyright protection, public welfare, art collection and e-commerce, according to the post.
• JD Technology, formerly JD Digits, is the tech development arm of JD.com, one of China’s biggest e-commerce apps. JD Technology works on blockchain, fintech, AI, healthtech and cloud services.

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