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NFT in a nutshell: a weekly review

With more NFT debates this week, Apple’s policy is at the forefront. Meanwhile, in one region, numbers show that NFTs are leading the volume of cryptocurrencies, with one of his Solana-based NFT projects signing a major licensing deal.

These are some of the most notable stories across the NFT landscape over the past week.

Non-Fungible Token News of the Week

Apple claims NFT sales in apps are subject to platform fees, critics disappoint

Young crypto-first platforms looking to use NFTs haven’t been happy with Apple this past week. The global tech company says platforms that want to sell NFTs will have to be held accountable by Apple’s run-of-the-mill fee structure. But companies claim it’s simply not sustainable. As explained in the report, depending on geographic location, these fees can exceed 30% and include other costs.

Epic Games’ CEO also spoke out against Apple’s stance on the NFT platform, describing it as an “outrageously expensive in-app payment service.”

Asian Crypto Adoption Being Accelerated by NFTs, Report Says

Rising adoption of cryptocurrencies in Central Asia, South Asia and Oceania (CSAO) is driven by NFTs, according to a new Chainalysis report. Our team dug deep into the report. This shows that CSAO is spearheading adoption for his NFTs, even as other regions around the world drive adoption through major blockchains such as Bitcoin and Ethereum. .

Year-over-year from June last year to June 2022, the region accounted for nearly $1 trillion in total cryptocurrency trading volume, with nearly 60% of that in NFTs.

Solana's (SOL) Okay Bears have proven to be the top dog across the blockchain, at least for the time being. That's exhibited most recently by a new licensing deal with IMG that could see bears on consumer products in the future. | Source: SOL-USD on TradingView.com

Solana’s Okay Bears sign with IMG

Solana-based Okay Bears has emerged as a top blockchain project this year. Need proof? Check out the latest headlines about the collection. Okay Bears has a licensing deal with his IMG. The 10,000 Mints Project regards IMG as a global licensing representative for consumer products and experiences. IMG works with some of the biggest names in IP and resides within the Endeavor conglomerate. The Endeavor Conglomerate has a significant presence across entertainment in nearly all media.

Goblins Go Live on Beta Truth Labs Marketplace

What a long and winding road this year’s Goblintown.wtf collection has been. The project was experiencing unprecedented hype during the mint season just five months ago. However, the project has cooled, and today’s lowest price is just below 1 ETH – after his daily average price of over 7 ETH hit a record high in early June.

But that hasn’t slowed down Goblin too much, as Goblin Town creator Truth Labs launched the “Truth Labs Marketplace” last week. We only charge a flat 5% fee on transactions (compared to OpenSea’s 2.5% + Flexible Creator Loyalty).

Universal Studios Launches Halloween NFT Scavenger Hunt

Next month, attendees at Universal Studios in California and Florida will have the opportunity to take home an NFT. Through October 31st, the park will host a Halloween-themed scavenger hunt where you can mint up to 7 million of his NFTs. A total of 7 of her QR codes hyperlink visitors to her unique NFTs. This offer is thanks to our partnership with Universal and MoonPay. The two joined forces in June and are apparently moving forward quickly with their new relationship.

The NFT will reportedly offer additional perks (at least for those who collect all seven QR codes), but it seems that these perks are still unclear. That said, the growing number of case studies of fan and user engagement with brands and assets is another cut in the belt. NFTs have been described as “proof of attendance protocols” tokens that could take over traditional means of measuring attendance at events and engagements.

Featured image from Pexels, Charts from TradingView.com
Overview of NFTs
The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice. This op-ed represents the views of the author, and may not necessarily reflect the views of Bitcoinist. Bitcoinist is an advocate of creative and financial freedom alike.

NFT in a nutshell: a weekly review

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