Alibaba-Backed Youwu Digital Collection Platform Launched

May 17, 2022, 19:23pm2022/05/17 19:23:14 Pandaily

“Youwu (鱿物 Yóu Wù),” a digital collection platform featuring ancient Chinese cultural artworks, has been officially launched today. Users can access it by registering on the platform through Youku, a video streaming app owned by Alibaba<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder />. This platform represents another investment by Alibaba<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder />‘s Digital Media & Entertainment Group related to digital collections.

Promotional material shows that Youwu will give the digital collection called “Youwu Origin Badge” free of charge to the first 5,000 registered users who have completed real-name authentication on the platform. The digital collection called “Intangible Cultural Heritage Masters Series” on the platform will go on sale at 12:00 every day from May 18 to 20, for a price of 19.90 yuan ($2.95).

Like “Jingtan (鲸探 Jīng Tàn),” a digital collection platform operated by Alibaba<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder />, Youwu also does not support the secondary transaction of digital collections, but only allows users to transfer digital collections to others 30 days after purchasing them.

The publisher of the digital collection on Youwu is Aliyu (Tianjin) Culture Communication Co., Ltd., which was established on January 8, 2021. It is 100% controlled by an affiliated company of Alibaba<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder /> Pictures.

Alibaba<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder /> Digital Media & Entertainment Group has invested steadily in the field of digital collections. In December 2021, a wholly-owned subsidiary of Zhejiang Dongyang Alibaba<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder /> Pictures Co., Ltd. established and Hainan Lingjing as a knew new wholly-controlled entity. According to public information, Hainan Lingjing has built a complete technology development and IP operation team, and has precipitated rich innovative practices in collaboration with artists and films in regards to digital collection distribution.