SNEAK PEEK
- AliExpress, a subsidiary of Alibaba Group, partners with The Moment3 to enter the Web3 world and tap into the growing NFT market.
- Despite operating independently from mainland China, AliExpress accepts cryptocurrency payments.
- China’s regulatory concerns highlight the need for a robust legal framework in the NFT market, addressing financial, security, and legal risks.
AliExpress, a subsidiary of Alibaba Group and a leading global e-commerce platform, has taken a bold step into the world of Web3 by partnering with The Moment3, a prominent NFT project. This collaboration aims to tap into the growing NFT market and offer AliExpress users an exciting opportunity to explore and purchase unique digital collectibles.
We’re thrilled to announce that The Moment3! is joining forces with AliExpress for Shopping Moment theme! AliExpress, an international marketplace under Alibaba International Digital Commerce Group. This collaboration marks the most monumental step for The Moment3! @AliExpress_EN pic.twitter.com/z8NkO1DTRp
— The Moment3! (@The_Moment3) June 8, 2023
In its continued commitment to crypto-related ventures, AliExpress has been actively venturing into the Web3 space. Back in June 2022, Alibaba Cloud, an affiliate of Alibaba Group, launched a groundbreaking service that simplified the creation of NFT marketplaces. This innovative solution addressed compliance concerns and provided a reliable platform for individuals and businesses looking to establish their presence in the NFT market.
The partnership between AliExpress and The Moment3 marks a significant milestone in AliExpress’ Web3 journey. Moment3 is a visionary NFT project that aims to bridge the gap between real-world businesses and the Web3 ecosystem. Through this collaboration, AliExpress users will gain access to a wide array of Moment themes, offering them a unique and immersive shopping experience.
AliExpress has been actively expanding its reach in the crypto community by forging strategic partnerships. In a recent development, AliExpress joined forces with Shopping.io, an online platform that enables users to shop and pay with cryptocurrencies on popular e-commerce stores such as eBay and Walmart.
🐶🚀 Calling all @RealFlokiInu enthusiasts!🎉Now you can #SHOP with $Floki on AliExpress via https://t.co/WAhDgOT5KJ! 🌟
Experience the power of Floki & pay for your favorite items!
What’s even better? Enjoy an additional 10% $SHOP back on every purchase you make! 🎁🔥
Don’t… pic.twitter.com/f2d94wPKCW
— Shopping.io (@shopping_io) May 31, 2023
By embracing this partnership, AliExpress has further solidified its commitment to accepting various cryptocurrencies as payment options, providing users with greater flexibility and convenience.
It is worth noting that AliExpress, despite being a subsidiary of Alibaba Group headquartered in China, operates independently from mainland China. This distinction allows AliExpress to accept cryptocurrency payments despite the Chinese government’s ban on such transactions. As part of its effort to cater to the crypto community, AliExpress even added the meme coin FLOKI to its list of supported digital assets on May 31.
However, it’s essential to recognize that China has implemented strict regulations surrounding crypto transactions and has issued several warnings about the risks associated with NFT speculation.
The Supreme People’s Procuratorate of China, the country’s top prosecuting body, has expressed concerns regarding the lack of clear regulations and standards in the Chinese NFT market. They have emphasized the urgent need for a robust legal framework to address financial, management, network security, and legal risks related to NFTs.
As AliExpress forges ahead with its partnership with The Moment3, it demonstrates the platform’s commitment to staying at the forefront of emerging technologies and catering to the evolving needs of its users.
By venturing into the Web3 space and embracing the NFT market, AliExpress continues to position itself as a trailblazer in the e-commerce industry, offering users a seamless integration between traditional online shopping and the exciting world of digital collectibles.
