Latest NFT updates hit the jackpot with Dolce & Gabbana NFT sales, confessions from Vitalik Buterin, Britney Spears and Madonna’s famous kissing shot getting NFT? This week there are NFT updates you can’t miss. That’s why we’ve compiled the best NFT updates for the first week of October to keep you informed. All and more cryptocoin.com‘in.
This week in the NFT market
The non-fungiable tokens space was exciting due to a number of events the previous week. For example, Dolce & Gabbana generated impressive revenue from NFT sales of $5.65 million. Additionally, Ripple Labs plans to drive crypto adoption with US$250 million in funding for NFT-based projects. So, let’s take a look at this week’s most critical NFT updates:
1-Vitalik Buterin says he created Ethereum after his beloved World of Warcraft character was blocked by developers, and this event awakened him to “the horrors central services can bring.” Vitalik Buterin admitted to creating Ethereum after the developers weakened the “beloved” World of Warcraft character. “That day I realized what fears centralized services can bring,” Buterin wrote in his biography. Finally, it launched Ethereum at just 21 years old in 2015.
2-Britney Spears and Madonna’s famous kiss at the 2003 music awards ceremony will be auctioned as a non-fungible token. At the 2003 MTV Video Music Awards, Madonna made an unforgettable sensation when she unexpectedly kissed Britney Spears. The famous frame depicting this moment looks like it will soon find a new owner in the crypto realm. The famous square is auctioned off as NFT.
3- Dolce & Gabbana records US$5.65 million worth of NFT sales. Dolce and Gabbana’s dives into non-fungiable tokens are starting to bear fruit. It recorded a flawless digital token sale. This historical collection was personally designed by Domenico Dolce & Stefano Gabbana. It was sold for $5.65 million. The sale was made on blockchain digital platform UNXD, with the highest sales at US$1,275 million. In addition, the collection includes a physical item and a digital high-design video. Some features, men’s and women’s clothing and jewelry types.
4- Dogecoin co-founder highlights Ethereum Bridge and NFTs for Spike Adoption. Dogecoin (DOGE) co-founder Billy Markus has proposed a Dogecoin-Ethereum bridge. The Dogecoin executive is keen on this proposal to integrate Doge with OpenSea and other top NFT markets. Also, Markus’ proposal is geared towards helping mass adoption of Dogecoin. Furthermore, Markus highlights the importance of completing the Ethereum-Dogecoin bridge. He suggests that its completion will lead to integration with popular marketplaces. This will enable the purchase of NFTs with DOGE. He also said that the rush to buy NFTs with DOGE will increase the utility. Involving Doge in NFT’s domain would be of great benefit to the community.
Ripple Labs allocates funds to NFTs
5 – With $250 Million in funding for NFT-based projects, there is volatility that will increase crypto adoption. According to reports, Ripple Labs is launching a $250 million fund for creators, marketplaces and brands. The finance impulse also enables them to explore new use cases for NFTs on its platform. Monica Long, Managing Director of RippleX, posted the announcement on her Twitter account. Ripple’s concern turns to creating tokenized digital artwork. Ripple said: “We believe NFTs embody the promise of tokenization and represent a tipping point for mainstream adoption.” As mentioned, MintNFT are some non-tradable marketplaces that will be the first to access the fund.
6- TikTok announced its first non-fungiable tokens project. During the week, TikTok announced the creation of NFTs with creative-led collections. The latest development is a big step into the world of free tokens. Leading tik-tokers have motivated a new style of digital art content. Some of the leading tik-tokers will include Bella Poarch, Lil Nas X, and others. According to the TikTok Best Moments program, creators can be rewarded for their content. Tiktok Top Moments is built on Ethereum and powered by Immutable X. This is a new scaling solution for the second layer non-fungiable tokens protocol. NFT will include a selection of six TikTok videos.
7- NFT trading game Axie Infinity has announced its new award-winning staking program. Axie Infinity has been trending throughout the week as it launched a betting program. Now users can stake AXS tokens with rewards listed soon. As announced on Thursday, players with AXS can start staking them. Rewards will be awarded within 24 hours to ensure all time zones can be staked in advance. The Axie Infinity team said: “Stake is a way to reward our community members for having a long-term mindset and locking AXS tokens.” Meanwhile, the Axie Infinity team announced their plans to have a say in the use of Community Treasure through the new staking program. Finally, in the first month, the program will distribute two million dollars of AXS tokens. Currently, approximately 58 million of the $270 million AXS tokens are in circulation. The remaining amount will be distributed through betting, game rewards and ecosystem rewards.
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