Alibaba’s food delivery subsidiary expands NFT’s reach

Ele.me, which is owned by Alibaba, launched its first non-fungible tokens (NFTs) on Tuesday in collaboration with the Hangzhou Cuisine Museum, which featured classic Hangzhou dish cod meatballs.

To promote local food and culture, the meal delivery giant teamed up with the Hangzhou Municipal Bureau of Commerce.

By posting a series of original images of classic Hangzhou foods, users can claim the NFTs.

Ele.me’s NFTs are non-transferable, a move taken to comply with the standards of China’s banking and financial self-regulatory agencies.

Ele.me’s NFTs are non-transferable, a move taken to comply with the standards of China’s banking and financial self-regulatory agencies.

Ele.me and Meituan control China’s food delivery market as a duopoly.

Meituan, which is partially owned by Tencent, an Alibaba competitor, has yet to issue its own NFTs.

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