NFT is an acronym for “non-fungible token.” Non-fungible means that something is unique and cannot be replaced. In contrast, physical money and cryptocurrencies are fungible, meaning they can be sold or exchanged for each other. Each NFT contains a digital signature that makes each copy unique.
NFTs are digital assets and can be photos, videos, audio files, or another digital format. Examples of NFTs include artwork, comics, sports collectibles, trading cards, games, and more.
Now, in this post we present a review of the main NFT news of the week.
Justin Sun revolutionizes the NFT world with his new platform
Tron CEO Justin Sun announced the launch of NFT Pump, the first NFT platform running on the TRON network. Indeed, Sun promotes NFT Pump as a fair, transparent and fun-filled platform, offering adventure beyond trading. Additionally, he noted that all NFT trading fees will go towards buying back and burning NFTs.
In fact, the platform is live and available to users, including NFT enthusiasts, hobbyists, and professionals alike. Notably, the set of digital collectibles in NFT Pump includes representations of well-known celebrities, such as Elon Musk, Donald Trump, Changpeng Zhao and Justin Sun, as well as animated characters and GIF images.
NFT sales rise almost 5%
This week, NFT sales were up 4.87% from the previous period. It reached a total of $79.38 million. Actually, according to cryptoslam.io, the number of NFT buyers skyrocketed by 34.13%, while sellers grew by 28.72%. For example:
- Ethereum-based NFTs sold more than $27.97 million.
- Bitcoin NFTs raised $21.2 million.
- Solana-based NFTs secured $13.72 million in sales.
By the way, topping the charts as the best-selling collection was Nodemonkes, a Bitcoin-based NFT compilation, which grossed over $4 million in sales. Indeed, the market could be set for further expansion in the coming weeks.
Rolex leads the luxury watch revolution
The Swiss firm wants to patent a high-tech system that will make it easier to identify whether it is an original Rolex or a fake. Hence, Rolex wants to patent a system to integrate NFT chips into its watches that will rely on Blockchain technology to certify the authenticity of the watches and improve their traceability in the second-hand market.
The chip can be read using RFID (radio frequency identification) technology, which will instantly verify the authenticity of a watch and identify it through Blockchain, recording data about a person, a watch and a security key on that chip.
Through this app associated with a watch, the legitimate owner can unequivocally certify the ownership of the linked watch in case of theft, as well as act as a secure communication channel.
Adidas launches NFT sneakers with Stepn
Stepn, the move-to-earn Web3 app, has announced a new partnership with Adidas, to issue a second collection of 1,000 co-branded Genesis Sneakers based on 4 different designs.
STEPN GO x adidas – WE’RE SO BACK! 👊
We’re teaming up again with @adidas to break web3 a second time ⚡️
This new edition we’re taking things to the next level with a brand new edition of 1,000 co-branded Genesis Sneakers, exclusively on STEPN GO 🤯
Featuring 4 unique designs,… pic.twitter.com/2FxAM8c0Kd
— STEPN GO (@Stepnofficial) September 23, 2024
According to the announcement, the collaboration includes the launch of a new collection of exclusive sneakers in NFT format. The partnership promises to bring a new wave of innovation to the Web3 ecosystem, in addition to strengthening Stepn’s position in the crypto market and digital fashion. The NFTs will be distributed as part of a drawing in which non-winners will be refunded.
NFT in the Castellón uniform
Pudgy Penguins, a popular NFT collection, announced that it has reached an agreement with Club Deportivo Castellón, a Spanish soccer club. Specifically, it will sport the Pudgy Penguins and Lil Pudgys NFTs on its official uniforms. This being the first time that profile image NFTs are represented on a professional football uniform.
We’re looking forward to seeing NFT IP spotlighted on the grand stage as CD Castellon storms the fields!
Learn more about this initiative here: https://t.co/crfC7l93WO
Stay tuned for updates on selected penguins from the official Pudgy Penguins X and Discord channels. pic.twitter.com/Rp5d81Lkui
— Pudgy Penguins (@pudgypenguins) September 25, 2024
To celebrate this agreement, the work The Winning Strike, by FroggyCyborg, has been launched and seven owners of Pudgy Penguins or Lil Pudgys and The Winning Strike Open Edition will be randomly selected so that their NFTs appear on the front of the Castellón shirt.
I say goodbye with this phrase from Juan Pérez: “NFTs are the tip of the iceberg of a new digital era, where the ownership and authenticity of digital assets will be fundamental.”
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