The global online retailer, AliExpress, part of the Alibaba Group, made waves last Thursday by revealing plans to dive into the non-fungible token (NFT) space. This leap into the digital world of collectibles is a result of a new partnership with NFT project “the Moment3!”. Regrettably, the initial announcement tweet was quickly removed from the AliExpress Twitter account, with only the Moment3!’s Tweet standing as evidence of the news.
Quick Takes:
- AliExpress enters the NFT market in partnership with ‘the Moment3!’, signalling innovation.
- Embracing cryptocurrencies, AliExpress integrates with Shopping.io and accepts Floki as payment.
- The e-commerce is set to release limited edition NFTs on June 25, offering exclusive digital collectibles and undisclosed perks.
AliExpress: A Crypto-Forward Company
AliExpress has not shied away from embracing the expanding crypto industry. In fact, on May 4, they integrated with Shopping.io, allowing customers to make purchases using cryptocurrencies. Then, towards the end of May, they accepted the memecoin Floki as an additional payment method.
To mark this significant transition, AliExpress is set to launch a collection of 5,555 NFTs on June 25. This unique series aims to provide customers with exclusive digital collectibles that carry additional perks. The Moment3! project aspires to link the digital realm with physical businesses, providing an enriched experience for NFT owners. However, the specifics of these additional privileges remain under wraps.
The Moment3!, a relatively new entity in the NFT space, surfaced on Twitter in May 2023. This ambitious project seeks to immortalize precious moments on the blockchain through the use of NFTs, creating everlasting digital memories.
Alibaba Group’s Journey into Web3 Space
This step marks AliExpress’s first venture into the NFT market. However, it’s important to note that the Alibaba Group, its parent company, has already left its footprints in the Web3 world. For instance, in September 2022, Alibaba’s high-end shopping platform, Tmall Luxury Pavilion, launched an interactive shopping experience in the metaverse, introducing a Meta Pass for free virtual access. Moreover, in May 2023, Alibaba Cloud and Avalanche collaborated to present “Cloudverse.” It is an innovative launchpad for businesses to build personalized spaces within the metaverse.
To sum up, AliExpress’s journey into the NFT arena with Moment3 signifies its commitment to embracing innovative technologies and providing customers with an enriched shopping experience. As we eagerly anticipate the upcoming NFT release, it’s clear that AliExpress is helping to shape the future of e-commerce in the era of digital collectibles.
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