bilibili

Chinese streaming service Bilibili enables NFT transfers

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Bilibili, a video streaming platform popular with China’s Generation Z, Monday enabled non-fungible tokens (NFTs) to be transferred between users, becoming the second major Chinese tech firm to allow NFT transfers after Alibaba.

See related article: China state-backed paper’s NFTs surge in price on second-hand market

Fast facts

  • Bilibili is a video streaming platform famous in China for allowing real-time comments over videos called “Danmu.” 
  • The platform debuted NFTs in January, a series of PFPs (profile pictures, usually a series of shoulder-length artworks that reflect different personas through the faces of apes, cats, humans, aliens, robots, etc.) themed in pigeons.
  • Bilibili currently only allows the trade of these pigeon-themed PFPs; other NFTs will be allowed to switch hands in May.
  • Bilibili may delay the transfer of NFTs or tweak rules if there is speculative activity. 
  • Claiming to clamp down on speculative activity in NFTs is common for tech companies to appear in line with Chinese authorities’ stance on the asset.
  • Major Chinese tech firms such as Tencent, Baidu, JD.com and Xiaohongshu’s NFT marketplace still don’t allow for transfers or trade.
  • Despite curbs, China’s domestic NFT market is set to reach 29.8 billion yuan (US$4.68 billion) in 2026, according to Guosen Securities.

See related article: China state-backed paper’s NFTs surge in price on second-hand market



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