Alibaba has launched a new marketplace allowing trademark holders to sell NFTs representing licenses to their copyright.
Chinese multinational e-commerce firm Alibaba Group Holding has launched a new nonfungible token (NFT) marketplace allowing trademark holders to sell tokenized licenses to their intellectual property.
The marketplace is already live, hosting several NFTs that are set to be auctioned next month. Bidders must post a deposit of 500 yuan (roughly $77) to participate in auctions. Each upcoming auction has set a reserve price of $15 each.