October 3, 2022

NFTs In A Nutshell: A Weekly Review

3 min read

From NBA sneakers to legal lingo, and a little bit of whatever in between, it’s been a hectic week in the constantly developing world of non-fungible tokens. Let’s take a look back at some of the week’s most significant headings in the NFT space.

This Week’s Non-Fungible Token News

Floyd ‘‘ Money’Mayweather Wants More

Boxing icon Floyd ‘‘ Money ‘Mayweather desires his tradition to include digital collectibles. In a statement today, Mayweather announced his intent to release a collection of 5 NFTs in the lead-up to next month’s fight with Jake Paul.

eBay Acknowledging NFTs On Their Platform

eBay revealed today that they will be using specific ToS language attending to NFTs. The move will begin with an ‘‘ NFT inventory’ offered to select sellers. Future criteria, such as a potential authentication protocol, is yet to be identified.

Related Reading|VANCAT, An Innovative NFT Marketplace Token, Has Been Listed On BitMart Exchange

Dapper Labs Lawsuit

In a claim statement this week, NBA Top Shot developers Dapper Labs are dealing with claims that the Top Shot ‘‘ moments’breach the SEC’s federal securities act of 1933. The allegation basically mentions that Dapper Labs are offering unregistered securities. Nevertheless, the complainant may be facing a number of uphill struggles in the case, as Dapper Labs likely has a number of various defenses to rely on.

The “Hottest NFT” Yet

London-based artist Max Denison Pender took a special method in getting in the world of NFTs. He took a trip to a volcano in Iceland to paint his latest piece, “TAKE ME TO THE MOON”. The piece was digitized and uploaded to OpenSea. Check out the full story, with a brief video vignette here.

 WAX has seen development this year around having considerable potential in the NFT area|Source: WAX-USD on TradingView.com

Zed Run & & Preakness Stakes

Legendary horse racing occasion, meet digital horse racing platform. Seventeen tokens will be readily available on OpenSea in a ‘‘ Preakness x Zed Run NFT Collection’ series. The NFTs will commemorate some of the greatest moments in the 146 year legacy of the Preakness. Winning bidders can secure exclusive unlockable material on Zed Run.

CryptoPunks Go To Christies

Premiere auction house Christies discovered host to 9 CryptoPunks on the marketplace, collecting simply shy of $17M USD this week. The sale was roughly double of what Christies prepared for. Punks developers Larva Labs have actually stated that over 90% of the 10,000 Punks on the marketplace have exchanged hands in the past year; Punks were an early task given market in 2017. At the time of composing, CryptoPunks lead the charge in 24 hour sales volume of any NFT collectable, with roughly $1.5 M in sales.

Frightening Terry’s NFT Kicks

The very first pair of ‘‘ NFT kicks’ has hit the hardwood in an NBA video game. Charlotte Hornets guard Terry Rozier wore against the New York Knicks in a custom one-of-two pair of Pumas. The 2nd set? Going to the winning bidder of Terry’s NFT listing on OpenSea. Have a look at the “Scary Terry” sneakers as reported from ESPN’s lead sneaker-ologist, Nick DePaula.

Included image from Pixabay, Charts from TradingView.com