Users can utilize the application to handle their on-chain possessions and use it as a gateway to Upowerchain. Most domestic alliance chain wallets currently available do not have transfer functionality, and this is also the case with this particular wallet.
Companies have turned to a “gifting” transaction feature as a solution to the problem of being unable to trade domestic digital collectibles on a secondary market. At present, Bilibili’s virtual items can be given as a gift only after they have been possessed for a period of 30 days and necessitate the verification of the user’s real name. The latest application has a function that alerts users when they want to send a gift.
Shanghai Donghun Technology, a company owned by Bilibili, is responsible for creating the Upowerchain application. Bilibili states that Upowerchain is intended for digital assets, games, culture, and new applications. In the future, it will also facilitate community governance.
Bilibili, a company in China that deals with digital collectibles, provided a rare digital collectible named “Gede” for purchase in January 2022. This offer was exclusively available to level-6 users who had used the app daily throughout 2021. Furthermore, Bilibili provided complimentary digital collectibles called “Yinhu” to users who took part in this event.
CryptoNatty has been given permission by Bilibili to release a collection of NFTs called “Cheers UP” that symbolize Bilibili’s community culture. These NFTs are available for purchase to individuals who reside outside of China. The NFTs are created on Ethereum and can be traded without any restrictions. The aggregate transaction volume for this series has already surpassed $2 million. Moreover, the Twitter account “Cheers UP” has amassed a following of more than 60,000 users.