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NFTs In A Nutshell: A Weekly Review

From NBA sneakers to legal lingo, and a little bit of everything in between, it’s been a busy week in the constantly evolving world of non-fungible tokens. Let’s take a look back at some of the week’s biggest headlines in the NFT space.

This Week’s Non-Fungible Token News

Floyd ‘Money’ Mayweather Wants More

Boxing icon Floyd ‘Money’ Mayweather wants his legacy to include digital collectibles. In a statement this week, Mayweather announced his intent to release a collection of five NFTs in the lead-up to next month’s fight with Jake Paul.

eBay Acknowledging NFTs On Their Platform

eBay announced this week that they will be offering specific ToS language addressing NFTs. The move will start with an ‘NFT inventory’ available to select sellers. Future criteria, such as a potential authentication protocol, is yet to be determined.

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

Dapper Labs Lawsuit

In a lawsuit announcement this week, NBA Top Shot creators Dapper Labs are facing allegations that the Top Shot ‘moments’ violate the SEC’s federal securities act of 1933. The accusation fundamentally states that Dapper Labs are selling unregistered securities. However, the plaintiff may be facing a number of uphill battles in the case, as Dapper Labs likely has a number of different defenses to turn to.

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The “Hottest NFT” Yet

London-based artist Max Denison Pender took a unique approach in entering the world of NFTs. He traveled 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 short video vignette here.

WAX has seen growth this year around having substantial potential in the NFT space | Source: WAX-USD on TradingView.com

Zed Run & Preakness Stakes

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

CryptoPunks Go To Christies

Premiere auction house Christies found host to nine CryptoPunks on the market, collecting just shy of $17M USD this week. The sale was roughly double of what Christies anticipated. Punks creators Larva Labs have stated that over 90% of the 10,000 Punks on the market have exchanged hands in the past year; Punks were an early project brought to market in 2017. At the time of writing, CryptoPunks lead the charge in 24 hour sales volume of any NFT collectable, with roughly $1.5M in sales.

Scary Terry’s NFT Kicks

The first pair of ‘NFT kicks’ has hit the hardwood in an NBA game. Charlotte Hornets guard Terry Rozier suited up against the New York Knicks in a custom one-of-two pair of Pumas. The second pair? Going to the winning bidder of Terry’s NFT listing on OpenSea. Check out the “Scary Terry” sneakers as reported from ESPN’s lead sneaker-ologist, Nick DePaula.

Featured image from Pixabay, Charts from TradingView.com

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