Nike unveils NFT platform
This week’s newsletter examines approximately how the FTX contagion caused the sale of a set containing high-price tag nonfungible tokens (NFTs). Check out the struggles in onboarding artists to Web3 via NFTs and discover approximately OpenSea’s choice to sooner or later put royalties into effect on all collections inside its NFT marketplace. In other news, a device that lets layer-2 networks exhibit NFTs on social structures like Twitter turned into released. And pay attention to this week’s Nifty News presenting Nike’s Dot Swoosh NFT platform.
Victim of FTX contagion The NFT collection is offered for sale via Deepak.eth
After announcing an eight-figure exposure to the FTX exchange, Deepak. Eth, the pseudonymous founder of blockchain infrastructure company Chain, tweeted that they are selling their NFT collection to the highest bidder or through a fractional decentralised autonomous organisation (DAO) for 80% ownership. The collection includes prominent NFTs such as Bored Ape Yacht Club and Mutant Ape Yacht Club characters. The group will be sold for 8000 Ether ETH. He deposits $1,203, about $10 million as of this writing.
Helping mainstream artists into Web3: The triumphs and struggles
Bernard Alexander, an executive at Animal Concerts, the company that has helped bring celebrities like Snoop Dogg and Billy Ray Cyrus to Web3 via NFTs, the challenges of helping artists get on Web3 to get. According to Alexander, assisting artists in making sense of space remains a major challenge as people are naturally reluctant to enter a rapidly developing, burgeoning industry.
OpenSea to enforce creator royalties on all collections after community outcry
After hearing feedback from the community, the OpenSea NFT Marketplace announced that it would continue to collect royalties on all collections within the platform. On November 7th, the NFT platform introduced a tool that allows creators to apply royalties to new readers. However, the latest update did not apply to existing collections. Community members criticised the marketplace for unclear messaging and urged the platform to clarify its stance on creator fees.
Some NFT creators have even cancelled the release of their upcoming collections pending OpenSea’s decision. After the rejection, the NFT platform finally decided to charge royalties for all groups.
For use in verified apps, a new tool mirror Optimism NFTs to the Ethereum mainnet
The developers of Optimism have launched Magic Mirror, an application that allows NFT holders to mirror their NFTs on the Ethereum mainnet. This will enable users to use their NFTs in applications like Twitter, where only Level 1 NFTs were previously recognised. The NFT badge feature on Twitter allows holders to endorse their NFTs by displaying a hexagon profile picture. Before the app launched, NFT owners from networks like Polygon, Avalanche, and Optimism couldn’t view them on Twitter.
Nike releases their NFT platform, Steve Jobs’ sandals fetch $200,000, and more excellent news.
Shoe manufacturer Nike has launched its NFT platform called. Swoosh noted that its first digital collection will appear on the platform in 2023. It has since become an NFT, an image of the Birkenstocks sandals worn by Apple co-founder Steve Jobs that sold at auction for $218,750.