JD.com Launches NFT Marketplace Lingxi
Lingxi, an NFT marketplace owned by Chinese e-commerce firm JD.com, on December 17 was launched as a mini program on the company’s app. Additionally, the first batch of NFTs designed with inspiration from JD.com‘s mascot “Joy” also open for sales.
As of now, three Chinese tech giants have become engaged in the NFT ecology, namely Whale Tan (formerly known as AntChain Fans) under Ant Group, Huanhe under Tencent and the newly released Lingxi marketplace under JD.com.
In China, NFT mainly refers to the digital ownership certificate based on blockchain, and is defined as a digital collection by Chinese tech platforms.
The Lingxi mini program will pop up if users search for digital collections in the JD.com app. Lingxi is introduced as a digital work or artwork uniquely identified based on JD’s Zhizhen chain technology, and is categorized as a virtual digital commodity instead of a physical commodity.
The first batch of digital collections represented by JD.com‘s mascot “Joy” is now on sale. It is priced at 9.9 yuan ($1.55), and each edition has 2,000 collections. All these digital collections have now been sold out.
In terms of purchase rules, Lingxi is consistent with Whale Tan and Huanhe. Real-name registration is required before purchase, and once purchased, it cannot be returned. After purchase, the records will be recorded in JD blockchain and cannot be tampered with.
SEE ALSO: China NFT Weekly: The Hype Around Virtual Real Estate
Regarding technical support, JD’s Zhizhen chain supports technology for Lingxi. Zhizhen Chain, same as the Ant Chain under Ant Group and Tencent Chain under Tencent, is a licensed blockchain network. In other words, collectors cannot trade NFTs completely freely based on blockchain.
The user agreement of Lingxi requires that buyers can use digital collections for research, exhibition, appreciation and collection, but are strictly forbidden to use digital collections for publicity stunts, over-the-counter trading or any illegal use.