Introduction
Bilibili (Bilibili), China's leading video-sharing platform, has ventured into Web3 by authorizing the release of 10,000 Ethereum-based NFTs under the "Cheers UP" series for its global audience. This marks a significant step for a major Chinese internet company into the decentralized NFT ecosystem.
Key Details of the "Cheers UP" NFT Collection
- Blockchain: Launched on Ethereum, the world's largest smart contract platform.
- Total Supply: 10,000 unique avatar-style NFTs.
Distribution:
- 233 reserved for the team.
- 9,767 allocated via lottery to verified wallets.
- Mint Price: 0.12 ETH (≈$350 at time of launch).
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Project Background
- Team: Developed by "CryptoNatty," a group affiliated with "Base Labs," though Bilibili's direct involvement remains unconfirmed.
- Cultural Significance: The "Cheers UP" theme reflects Bilibili's iconic community slogan ("Bilibili Cheers!"), while the "Little TV" avatar represents its official IP.
Compliance and Accessibility
- The collection will be tradable on OpenSea, leveraging Ethereum's open marketplace.
- Legal Footing: The team behind the project may operate from Singapore, a growing hub for crypto innovation under progressive regulations.
Bilibili's Domestic NFT Initiatives
Earlier in March 2022, Bilibili released a China-exclusive "Cheers 2022" digital collectible series:
- Platform: Non-blockchain (compliant with local policies).
- Price: 99 RMB per piece.
- Anti-Speculation Measures: Implemented a 30-day holding period before allowing transfers to deter炒作.
Web3 Strategic Moves
This Ethereum release signals Bilibili's strategic push to engage with global Web3 audiences while navigating domestic regulatory constraints.
FAQ Section
1. How can overseas users acquire these NFTs?
Users must participate in a wallet-address lottery for a chance to mint at 0.12 ETH.
2. Are these NFTs different from Bilibili’s earlier collectibles?
Yes. The Ethereum-based "Cheers UP" series operates on a public blockchain, unlike the domestic centralized version.
3. Why choose Ethereum for this drop?
Ethereum’s robust ecosystem ensures liquidity, interoperability, and access to platforms like OpenSea.
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4. What’s next for Bilibili in Web3?
The project teaser hints at future expansions, likely more cross-border NFT integrations.
Conclusion
Bilibili’s dual-approach—combining compliant domestic collectibles with decentralized global NFTs—highlights its adaptability in the evolving digital asset landscape.
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