NFT News: While the cryptocurrency market has entered a stagnant and bearish week in general, interest in DeFi platforms and NFT products has been increasing lately. While NFTs have been the latest shining star of blockchain technology, marketing by famous people has also contributed to attracting more investors to this field. China’s largest e-commerce site Taobao, a subsidiary of Alibaba Group, is showcasing artworks in the form of Non-Fungible Tokens (NFT) for the first time at the Shanghai Taobao Maker Festival.
Maker (MKR) has been holding an annual festival since 2017 to promote blockchain technology innovations and to reach and promote the industry to more people. Maker is holding this year’s festival together with Alibaba’s e-commerce platform Taobao.
This collaboration consists of a trio including NEAR Protocol, a decentralized application (Dapps) platform, Web3Games, a decentralized digital game integration platform developed on the basis of Polkadot Substrate, and Chinese artist Huang Heshan, who sells a series of works created by artist Huang. The most interesting part of the festival is the NFT platform of Chinese artist Huang Heshan. Artist Huang Heshan’s works in this exhibition are predominantly architecture, luxury detached villas and socialist architectural groups with Chinese characteristics, including the first NFT series “Toorich City Series”. The artist says potential buyers will be able to shop on the Taobao website using Chinese Renminbi. The NEAR Protocol states that to receive their NFT digital drawing, they must click the link and register with the NEAR wallet.
Taobao Maker Festival was officially launched in 2016 and aims to provide a platform for global art creators to showcase their artworks and sell their works through the website. It is held in Shanghai from 17 to 25 July this year.