Ant Group’s Digital Collection Platform Launches Custom Physical Object Function
On September 8, fintech giant Ant Group’s digital collection platform Jingtan officially launched an “entity customization” function, allowing users to customize some digital collections into derivative objects. More than 20 items have been supported so far, and the platform says more will follow.
Specifically, the real objects that can be customized are T-shirts and decorative paintings. Users only need to find a digital collection with the mark of “entity customization” in the app, then choose the material and size of the frame. The production process takes one to three days. According to the page description, more customization categories and gameplay will be unveiled.
This function requires users to make an extra payment besides buying a digital collection. Creative products issued by Jingtan are mostly less than 100 yuan ($14.4), while the price of a customized decorative painting with a 40cm aluminum alloy frame is 118 yuan.
In terms of T-shirts, users can choose whether to display the unique blockchain hash value of the digital collection, which also means that the physical goods launched by Jingtan are rare and unique derivatives of digital collection in the real world.
Previously, Jingtan and Hangzhou-based silk producer Wensli piloted this function, which led to an increase in the latter’s online customized product sales.
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Since the entry of NFTs into China, where they are known as “digital collections,” their marginal effect has become lower and lower due to domestic restrictions on their financial attributes. For distributing platforms, how to attract users and maintain long-term vitality is a difficult barrier to break through without opening up free trade. Tencent has already opted to shut down its digital collection platform Huanhe, while Ant Group has chosen to keep digging.