Chinese video site Bilibili follows Alibaba and Tencent in issuing NFTs as ‘digital collectibles’

The winners of the Bilibili lucky draw can make and sell physical products based on their pigeon image, and create digital works for non-commercial purposes. In China, NFTs are branded as ‘digital collectibles’ to avoid regulatory scrutiny, and the assets cannot involve cryptocurrency. — SCMP

Video platform Bilibili is the latest Chinese tech firm to jump on the non-fungible token (NFT) bandwagon, launching its own set of digital collectibles, following in the footsteps of Alibaba Group Holding and Tencent Holdings.

Bilibili has been accepting sign-ups through Friday this week for a lucky draw to win one of 2,233 profile pictures featuring a cartoon pigeon, each with a unique design and code stored on the company’s own blockchain network, UPowerchain.

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