Strictly Prohibited Speculation! Alipay's Latest User Agreement: NFTs Must be HODL for at least 180 days before gifting

Chinese media "AI Finance Society" reported that according to the latest user agreement announcement from Alipay, users are strictly prohibited from using NFT for speculation, off-exchange trading, fraud, and other illegal activities. Even if gifting NFT, users must hold the artwork for at least 180 days.

Alipay's latest update includes the "Ant Chain Fans Particle User Service Agreement," which adds explanations and terms related to NFT services.

According to the announcement, the copyright of NFT digital works is owned by the issuer or original creator, and the NFT digital works cannot be used for any commercial purposes without the written consent of the copyright owner. The announcement concludes that gifting NFT digital works requires at least 180 days of ownership, the recipient must be an Alipay friend, both the giver and the recipient must be at least 14 years old, have completed Alipay's real-name authentication, and passed Alipay's risk control review process.

Alipay stated that if there are abnormal behaviors such as speculation or crimes, necessary measures such as blocking the user or restricting the use will be taken.

In June, Alipay launched two limited-edition Dunhuang-themed NFTs based on Ant Chain, with each NFT limited to 8000 copies, priced at 10 Alipay points + 9.9 RMB. Both NFTs were sold out as soon as they were launched.

Although some people believe that the NFTs issued by Alipay are not part of the cryptocurrency community's NFTs, this move is still significant for the overall development of cryptocurrency assets, especially for NFTs. By promoting through Alipay, more people can learn about NFTs and blockchain, thereby helping to enter the traditional world.

This article is authorized to be reprinted from Horizon News Network