• Alibaba Cloud has launched a market solution for non-fungible tokens (NFT) as China’s number one cloud computing service provider.

The NFT solutions are services to enable artists and creators to monetize their NFT projects with ease. They include web hosting services, digital marketing, and Global delivery.

Under the web hosting services, investors can build a reliable NFT marketplace with high elasticity using Alibaba Cloud Elastic Compute Service (ECS) and Auto Scaling. Further, In it, static content such as images and text in Object Storage Service (OSS) can be stored. Also, other non-sensitive data such as a platform ID and user alias in a database.

For the NFT digital marketing solution, Alibaba Cloud provides efficient marketing channels for reaching customers via Short Message Service (SMS). With this, promotional notification and verification messages are sendable in batches to customers worldwide. Moreover, the SMS selects the best route in real-time and provides authentication to ensure the messages.

Alibaba Cloud Project Details

Alibaba Cloud also offers a Content Delivery Network (CDN) and Server Load Balancer (SLB), which provide high-performance content delivery for NFT applications across the globe. According to them, their Classic Load Balancer (CLB) runs at Layer 4 and supports up to 100,000 QPS. However, their Application Load Balancer (ALB) runs at Layer 7 and supports up to 1,000,000 QPS.

The costs of these services range from $1 to as much as $26,826.00 per year.

Non-fungible tokens (NFTs) are tokens that represent the unique ownership of assets. This asset can be music, videos, games, pictures, arts, etc. NFTs are neither replaceable nor interchangeable. This affords NFT artists and creators a unique opportunity to monetize their intellectual property.

For More: Salesforce Introduces NFT Cloud Marketplace for Customers

The post Alibaba Cloud Projects 3 NFT Market Solutions for Creators appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

Though it is not unusual to find traditional business leaders articulating affirmation for the development of cryptocurrencies, Joe’s statement comes as a shock to the crypto world. Further, the digital currency growth ecosystem has seen many institutional investors wade into the rising ecosystem.

If we see the business intelligence and software firm MicroStrategy, they are certainly leading the charge in this regard. The company holds over 122,478 bitcoins in line with its Treasury Reserve Asset (TRA) policy.

Moreover, American electric vehicle company Tesla Inc. also purchased as much as $1.5 billion worth of Bitcoins. This move showed an aggressive push by corporations to take a cut of the pie. Further, from the U.S. to China, it is slowly becoming a primary trend to have companies buy BTC. However, many of these decisions are typically not invested in the primary figurehead of the company.

To conclude, Joe Tsai did not confirm that he kept any digital currency through his tweet. However, after his tweet, it will no longer be shocking to the world if he does the crypto investment.

Currently, there is an expectation that more common business leaders and companies will make their way into the BTC ecosystem.

Also, the cryptocurrency mining hash rate has recovered from the dip following China’s ban on mining activities. According to data captured earlier this month, the hash rate of the Bitcoin network hit more than 179.5 Ehash/s, which is close to the all-time high achieved earlier this year.

The post Alibaba Vice-Chairman Joe Accepts He Likes Crypto appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

The new policy of Alibaba will impact mostly suppliers who had been selling crypto-mining equipment. They have also announced to shut down categories for blockchain miners and related products on the website on Oct 8. 

Alibaba will also prohibit and sell purchases of crypto coins including Bitcoin, Ether, Litecoin, etc. on the platform. The new restrictions have been announced in the wake of China’s fresh ban on the use of cryptocurrencies. Last week, China’s central bank also issued warnings and said that cryptocurrencies are a threat to the country’s centralized financial systems. 

While all physical goods related to cryptocurrency mining will be banned on the platform, there are a few exemptions. For example, material for crypto-mining education and some software is not under the purview of the ban. 

“Members have responsibility for complying with relevant laws and regulations applicable to any country of sale. We will keep track of policy changes in each country and adjust our control policies accordingly,” the company stated in its statement to the press.

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