Hangzhou 2022 Asian Games organizers to sell 20,000 NFTs

As part of the Asian Games 2022, which will be held in Hangzhou, the capital of China's Zhejiang province, special NFTs will be sold with the support of local payment tech giant Alipay.

China has always managed to combine criticism of certain financial products and their use. This also happened with non-fungible tokens. Despite regular judgment of NFT from the PRC state media, the organizers of the 2022 Asian Games will work with Alipay to put up for sale an entire collection of sports NFTs in the form of a torch with the event logo.

The collection of non-fungible tokens, timed to coincide with the national event, was laconically named “Eternal Flame”. The NFT is modeled after a real torch of the 2022 Asian Games, decorated with 8 streams of water representing the eight river systems of Zhejiang Province with Liangzhu-style designs.

NFT has a circulation of 20,000 copies at 39 yuan, which is equivalent to $6 per token. Anyone can buy them using the functionality integrated into the Alipay application. Sales will start on September 16 this year.

Alibaba has repeatedly encouraged consumer interest in the new asset class. For example, the other day, representatives of a subsidiary trading platform of the Tmall company put up for sale a collection of NFT yuèbĭng, also known as moon cakes. This event was timed to coincide with the Mid-Autumn Festival, which is scheduled for September 21 this year. All 50 created non-fungible tokens were sold over the weekend during the draw, and its winners could not only buy NFT for 1 yuan (about $0.15) but also get a real moon cake to boot.

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