Alibaba-sponsored Taobao Music Festival to feature Chinese artists selling NFT
TL; Distribution DR
- This year’s Taobao Music Festival will host the sale of NFT, supported by Alibaba.
- The artist who will be presented will be Heshan Huang from China with the sale of his âreal estateâ.
- This event will also see the association of the NEAR protocol with Web3Games.
While Bitcoin may be having a rough time now, there is bullish news in the NFT industry. According to the recent tweet from the official NEAR Protocol pseudonym, the partnership between Web3Games and Protocol has been announced.
The partnership will be responsible for promoting and selling the sale of NFT-powered âreal estateâ from a renowned Chinese artist. The artist is Heshan Huang, who will be the first artist to sell his NFT at the Taobao Music Festival held this year.
Taobao Music Festival started in 2016
Taobao is a subsidiary of Chinese giant Alibaba. The e-commerce site has made a name for itself over the past five years with the Taobao Music Festival which started in 2016. This year, the sixth festival will be held.
The aim of the Taobao Music Festival is to promote Chinese artists and their works by organizing a real exhibition of their works. This is the first time that the festival has hosted the sale of NFT. It can be a revolutionary festival in the NFT industry, paving the way for more such exhibitions.
Registration in a NEAR wallet is mandatory for all buyers
It is mandatory for all buyers to register on a link that they will provide on their mobile phones. The link will direct them to a NEAR wallet. This year’s Taobao Music Festival is powered by the partnership of NEAR Protocol and Web3Games, and therefore, NEAR wallet is mandatory to receive digital NFT for any buyer.
In May, when another Alibaba subsidiary, Alipay, launched two of its NFT tokens, around 16,000 of those tokens were sold within an hour. This art would appear on the payment page of all users who purchased these tokens.