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Chinese Streaming Service Bilibili Enables NFT transfers
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.
Muskaan T.
5:47 26th Apr, 2022
NFTs

Bilibili requires a 30-day gap between each trade, similar to Alibaba’s 180-day transfer lock-in.

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.

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