• Tencent’s QQ Music sells first NFT products

  • Chinese tech giant Tencent’s music streaming arm, QQ Music, has jumped on the non-counterfeitable token bandwagon and sold its first NFT over the weekend, featuring popular Mando-pop singer Tiger Hu.

    QQ Music, one of China’s major music entertainment platforms, plans to launch a series of music NFTs, and over the weekend, all 1,983 publicly available NFTs featuring Hu’s song “Monk” sold out in a draw that nearly 80,000 people signed up for, according to a special NFT page on QQ Music.

    Each NFT sold for 199 yuan ($30.70).

    Robin Hu is a 38-year-old Chinese singer-songwriter and music producer known for his R&B songs.The NFT was produced from a demo version of his song “Monk” originally released in 2001.

    This isn’t Tencent’s first foray into NFTs. earlier this month, the tech giant launched an NFT trading platform called “Cheerful,” which is built on the company’s own Zhixin chain. According to Tencent, its first sale of 300 audio NFTs was based on the famous Chinese talk show “Thirteen Lines” and sold for $18 each.

    Alibaba’s subsidiary Alipay, one of China’s leading payment apps, last week relaunched NFT artwork, designed as wallpaper for users’ payment code pages, with 80,000 copies of both versions sold out in a day. This follows the company’s successful launch in June of NFT artwork adapted from images of the Flying Apara and Divine Deer from the Thousand Buddha Caves, or Mogao Caves, in Dunhuang, China.

    Taobao, the Chinese online shopping platform owned by Alibaba, also sold NFTs at its annual shopping festival last month.

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