The Alibaba virtual market platform will tokenize and distribute the financing of its Blockchain Striding into the Wind movie, allowing small and medium investors to participate.
Alibaba’s film director, Alibaba Pictures, announced plans to use Blockchain and tokenize the rights of his new movie “Striding into the Wind” for distribution abroad among interested entities to finance or offer it through its platforms.
Alibaba Pictures signed an agreement with the US platform Breaker, operators of the SingularDTV platform, which plans to distribute the film outside of China through its Blockchain platform.
During the Golden Rooster & Hundred Flowers Film Festival in China, senior vice president of Alibaba Pictures and CEO of Alibaba Taopiaopiao, Li Jie, confirmed the alliance between the company and the Blockchain services company, indicating that the rights for the distribution of Striding into the Wind will be marketed through SingularDTV, this being the only film of Chinese origin to appear on the platform.
It should be noted that Alibaba Group is a Chinese private consortium that has 18 subsidiaries. It is based in Hangzhou. It is dedicated to electronic commerce on the Internet, offers online payment services, cloud storage, among others.
Relationship between Alibaba, Blockchain and cryptocurrencies
In what appears to be an ambivalent stance on the part of the retail chain in relation to the use and commercialization of cryptocurrencies, it seems that the use of Blockchain presents many possibilities to improve the functioning of some of its services.
Likewise, the tokenization of the films could set an important precedent to avoid the piracy of film productions, while allowing small and medium investors to participate in this ecosystem, which is generally reserved for renowned producers. tZERO (Overstock’s crypto address) is quite the example for this case, for it financed the movie “Atari: Fistful of Quarters” using Blockchain to distribute the process.
Regarding the use of Blockchain, Alibaba announced in March of this year that it was evaluating the use of this technology to strengthen its supply chains. At the end of September, a subsidiary of the company reported that it worked together with the Bayer company to develop a network of blocks specially designed to support the agriculture industry.
Recently the company generated strong controversy among users of digital currencies, as it announced the prohibition of the use of its application for payments, AliPay, for the trade of digital currencies through transactions made between users.