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Streaming service in China Bilibili introduces NFTs for international buyers

Bilibili, a popular video streaming platform among China’s Generation Z, unveiled a batch of Ethereum-based non-fungible tokens (NFTs) for sale outside of China on Thursday.

The NFTs, according to Bilibili, will be a collection of auto-generated characters with various traits. Such as faces, clothing, skin tone, headwear, and items carried in the characters’ hands.

Bilibili has commissioned CryptoNatty, an NFT marketplace, to issue the NFTs on its behalf.

Last December, Bilibili launched its NFT business, releasing four batches of “UPower chain” NFTs for the Chinese domestic market.

NFTs can only be traded in fiat currency, not cryptocurrency, due to mainland China’s crypto restriction.

Due to the authorities’ rhetoric on “speculative” behavior. So, major Chinese tech businesses normally do not allow trading and ban NFT transmission.

Bilibili has been expanding its international video streaming branch in Thailand and the Philippines since 2020.

Bilibili will not say whether the NFT is related to the company’s larger international objectives.

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Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.