NFTs In A Nutshell: A Weekly Review


Is the NFT buzz coming back to earth? In a report this week from Protos, they claim that “the NFT market bubble has popped”. This led to a variety of major publications grabbing hold of the ‘NFT’s are declining’ narrative. Nonetheless, substantial new projects in the space continue to emerge. Let’s take a look at some of the latest ones to hit the market this week.

This Week’s Non-Fungible Token News

The Olympic-Sized NFT

The International Olympic Committee (IOC) has partnered with gaming platform nWay to create Olympic Pin tokens. The initial pins will celebrate the Olympics 125-year history. nWay will handle releasing the pins to the public through their marketplace, nWayPlay.

The MLB Is Swingin’

The MLB wants more. After partnering with Topps earlier this year for their initial NFT release, the world’s biggest baseball league launched another partnership this week. Enter Candy Digital, a new non-fungible token platform with powerhouse leadership – including Mike Novogratz, Gary Vaynerchuk, and Fanatics’ Michael Rubin.

Related Reading | Vulcan Forged Launches NFTs Designed By The Godfather Of Fantasy Art

Gucci, Gucci, Gucci… An NFT

The designer fashion label is auctioning off a newly minted non-fungible token, inspired by it’s Fall / Winter 2021 collection. The online auction will be hosted by Christie’s. Proceeds from the sale will be donated to UNICEF USA, to support global access to COVID-19 vaccines.

The Audi-Backed Startup That Wants NFTs In Your Ride

Audi-backed Holoride is looking at three major buckets for changing consumer’s perception of the in-car experience: blockchain technology, immersive media, and of course, NFTs. Holoride will partner with blockchain firm Elrond for execution.

Ethereum is central to a large part of NFT projects, and continues to find stability in the past week. | Source: ETH-USD on TradingView.com

FTX Makes A Splash

Crypto exchange FTX had their name bouncing around quite a bit this week – starting with their naming rights deal with leading esports organization TSM. Also in the mix for the exchange this week is an NFT marketplace. One of the first tokens to hit the market allows for an in-person lunch or thirty minute zoom call with FTX CEO Sam Bankman-Fried. Bidding is already into six figures with over a week remaining.

Sale Of A Soccer Club: A New NFT Use Case

Liga MX’s Club Necaxa is releasing a non-fungible token that will offer the winning bidder 1% of the franchise’s ownership. The new part-owner will have 1% in perpetuity, unless they sell the token, and will have other benefits including home and away game tickets, and access to club facilities. The listing will be available via OpenSea and will run until June 18th.

Related Reading | Ethereum Co-Founder Has His Doubts Over Cardano’s Scientific Method

Featured image from Pixabay, Charts from TradingView.com



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