Chinese online retail chain JD is following rivals Alibaba and Tencent and foraying into the non-fungible token (NFT) market with the launch of a special NFT series commemorating its annual JD Discovery Conference. JD plans to launch seven free limited edition NFTs developed on its NFT series, which will be offered to those who signed up for the annual conference held from Beijing between October 18 and November 22. In addition, attendees can earn additional NFTs for each person they invite to attend the conference.
according to a report good By China-based news agency Sina Finance, Seven NFT JD will have a distinctive mascot, each representing one of the company’s key areas of presence which include retail, tech, logistics, health, finance and smart cities. JD says it will not issue any more NFTs after the November 22 deadline. However, users will be free to trade NFTs among themselves.
JD’s NFT Mining and issuance are done on the JD Blockchain, which is the core blockchain of the company. In addition, the e-commerce company has also developed “an NFT technical services platform” where users can broadcast, trace, verify and store their NFT collections.
The annual conference has been taking place since 2017 and has grown into a leading technological innovation platform to showcase concepts around smart cities, digital monetary business, on-chain innovation, and more. The 2021 edition of the conference will begin on November 22 at the China International Exhibition Center in Beijing.
JD’s foray into the NFT arena comes just months after rivals Tencent and Alibaba announced their interest in the space. Alibaba opened a new online marketplace for blockchain-enabled copyright sales in mid-August, where many artists can sell copyrights to their digital assets on a blockchain backed by the Sichuan provincial government. Similarly, Tencent launched an NFT trading platform called Huanhe, built on the company’s in-house Zixin Chain.