#107 | AliExpress NFTs Aiming to Revolutionize Online Shopping

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Hey friends,

Wonderful to have you with us! In today’s specially curated edition we have some big moves from AliExpress, Mark Cuban releasing NFT books, and the Stand With Crypto movement. Let’s jump in!

AliExpress is an absolute goliath of a company, repping the title of China's largest online marketplace with over 150 million active buyers, it is truly a Web2 e-commerce titan. But, they may not be Web2 for long because of a new collaboration with Moment3! that will bring cutting-edge digital collectibles to this global online marketplace.

Starting with the release of 5,555 Ethereum NFTs based on Moment3!’s popular Moment characters. They will be available to purchase on AliExpress from June 25th ushering in a new age of Web3 e-commerce because not only are these NFTs collectible wee characters but can be used to open exclusive benefits on AliExpress. The potential of utility NFTs for an online shopping website is pretty exciting, and AliExpress is starting off strong with Moment3! NFT owners gain early access to new products, discounts on future purchases, exclusive access to events, and of course the ability to sell off your loaded loyalty card to the next enthusiastic shopper!

AliExpress has also partnered with Shopping.io to give customers the convenience of crypto when shopping on the website, which paired with the release of an NFT collection shows the commitment that AliExpress has to start a transition to Web3. Who knows what opening crypto and NFTs to over 150 million buyers will do, but one thing for sure is it makes us one step closer to mainstream adoption.

Billionaire entrepreneur and Shark Tank star Mark Cuban has turned his book "How to Win at the Sport of Business" into an NFT, but why? Well this idea of NFT books is nothing new and we covered the concept earlier this year when “Brave New World” Transforms Into NFT Book showed how the blockchain can be used to preserve highly censored books. Billionaire star Mark Cuban isn't looking to fight censorship though, but instead embrace the new platform of Web3 for a better digital experience for his book.

First published in 2011, "How to Win at the Sport of Business" offered readers insights into Cuban's business philosophy and his journey from humble beginnings to billionaire success. The NFT version of his book was recently released through the Polygon blockchain as 10,000 copies for about $5 each that came with unique cover designs, access to exclusive content, bonus chapters, and interviews with Cuban.

This initiative is in partnership with Book.io which may ring a bell because they were also the ones who NFT-ified “Brave New World”, they are a decentralized marketplace specializing in eBooks and Audiobooks that has taken a liking to Web3. Ben Illian, Co-Founder of Book.io says “We believe that books should be unchangeable, immutable, and live forever across borders… We want the whole world to be able to own their digital assets and digital books, making it impossible for central authorities to ban or censor books at their discretion.”

Although you may be questioning the value here since an NFT version of Mark Cuban's book shares the somewhat identical advantages of finite printed hard copies, our increasingly digital world justifies exactly why we need digital versions of our real-world counterparts which is exclusively achieved through NFTs. The fact that billionaire visionary Mark Cuban is not shying away from Web3 through these cheap NFT books is a bullish sign for the future of the technology.

Our recent Blockchain Brew-Up covered a quick introduction to the Securities and Exchange Commission (SEC) choosing to sue two of the world’s largest cryptocurrency exchanges; Coinbase and Binance. Pretty much the anonymous nature of Web3 has led to the SEC alleging that these exchanges are operating unregistered securities, and that’s making waves in the industry with plenty of headlines flying around and cryptos prices seeing red. From these shenanigans, what stood out for me was the sense of community when people started banding together to support these exchanges and what they stand for, giving birth to the “Stand With Crypto” movement and the fight for financial freedom.

If you are not sure what’s going on here, people are showing immense support towards cryptocurrency as a form of financial freedom that should be protected, people want to be able to control their own money and to transact with each other without the need for a third party, while also having a more secure and transparent form of money compared to what we currently have. Whether or not you stand with crypto, NFTs don't have a choice because although cryptocurrency and NFTs are doing very different things, they are cut from the same blockchain cloth and will be woven together for the foreseeable future. When crypto gets threatened so does the NFT industry due to their inseparable connection, which gives a smooth transition to Coinbases free “Stand With Crypto” NFTs that represents the collective stand to “protect and promote the potential of crypto in the United States” which as of writing has already been minted 150K times.

“We stand united with the crypto community in our efforts to advocate for sensible crypto policy in the U.S.” – Coinbase

We always mention mainstream adoption and the road ahead for Web3, but it’s stories like this that show the true collective of people who can use Web3 as a way to connect and interact with people and/or entities. In our every day it seems like NFTs are used by every man and their dog to foster closer digital communities, but when thinking about the Web3 future as a whole, seeing 150k people mint an NFT to support the adoption of crypto makes our entire Web3 space feel more like a community.

Another day, another scam/rug.

This thread illustrates the disappointment from holders that were made to believe that the Momoguro project was working with Disney on a web3 game.

It seems that they’ve been misled — the game had no teasers or screenshots and holders were strung along with the hopes of a fun web3 game… only to find that it was only a rock-paper-scissors type of DeFi staking interface. Bummer!

Speaking of unfortunate events… check out this blunder from a huge whale!

That being said, I think he’s doing just fine considering his expenditure in NFTs over the past week.

In more encouraging news, Sotheby’s is auctioning off Ringer “The Goose” tonight, leading to a celebration of the collection around the NFT space.

Thanks for popping by, we hope you enjoyed this edition and cant wait to see you on the next Morning NFTea, take care!

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DISCLAIMER:

None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.10z