China-based multinational e-commerce giant Alibaba Group Holding has reportedly rolled out a new nonfungible token (NFT) marketplace, facilitating the selling of tokenized licenses to trademark holders’ intellectual assets. 

Specifically, the freshly rolled out NFT marketplace, which goes by the name “Blockchain Digital Copyright and Asset-Trade” can reportedly be publicly accessible using Alibaba’s Auction platform. 

The issuance of NFTs released across the platform will reportedly be finalized on the “New Copyright Blockchain” – a distributed ledger technology platform with the Sichuan Blockchain Association Copyright Committee functioning as its managing entity. 

The marketplace reportedly aims to cater primarily to writers, musicians, artists, and game developers.

The marketplace is currently widely available, offering an operating environment for a variety of NFTs, slated to be up for auction in September. It will be mandatory for bidders to make a deposit of 500 yuan (approximately $77) to take part in auctions. 

Every upcoming auction has set a reserve price of $15 individually. 

Buyers’ collections will be visible to them via crypto portfolio application Bit Universe, with full integration with WeChat.

“Although the technology itself does not prevent unauthorized copying. Sales include complete ownership of works purchased through the platform.”SCMP reporter Josh Ye reportedly shared via Twitter, regarding the news of the freshly rolled out marketplace. 

Several NFTs currently available reportedly do not disclose full details regarding rights afforded to buyers, with one NFT even appearing to depict unlicensed Star Wars fan art.