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Every week, there are NFT updates that you can’t miss. Therefore, Altcoin Buzz has compiled the top NFT updates from the first week of October to keep you informed.
The non-fungible tokens (NFTs) space was exciting the previous week with a series of activities. For example, Dolce & Gabbana made impressive proceeds from NFT sales worth USD 5.65 million. Also, Ripple Labs plans to ensure crypto adoption with USD 250 million funds for NFT-based projects. Therefore, let’s take a look at the most critical NFT updates of this week:
1 – Dolce & Gabbana Records NFTs Sales Worth USD 5.65 million
Dolce and Gabbana’s dive into the NFT space has started to pay off. It recorded a whopping digital tokens sales.
This historical collection was personally designed by Domenico Dolce & Stefano Gabbana. It was sold for USD 5.65 million. The sale was facilitated on the blockchain digital platform, UNXD, with the highest sale for USD 1.275 million.
We’re still amped on last week’s historic @UNXD_NFT x Dolce&Gabbana debut NFT drop, which sold for 1,885.719 ETH, making it the most successful digital fashion drop ever. There’s much, much more to come. Here, we recap the special collectors who now join the #DGFamily. pic.twitter.com/U9Z4lqgXDs
— Dolce & Gabbana (@dolcegabbana) October 4, 2021
Also, the collection included a physical item and a digital high-design video. Some of the features are male and female clothing items “museum-grade” jewelry varieties.
2 – Dogecoin Co-founder emphasizes Ethereum Bridge and NFTs to Spike Adoption
Billy Markus, Dogecoin (DOGE) co-founder, recommended a Dogecoin-Ethereum bridge. The Dogecoin executive is keen on this proposal to integrate Doge on OpenSea and other top NFT marketplaces. Besides, Markus’s proposal drives towards helping bring about the mass adoption of Dogecoin.
Also, Markus stresses the importance of completing the Ethereum–Dogecoin bridge. He posits that the completion will lead to integration with the popular marketplaces. This will enable NFTs purchases with DOGE. He also said that the rush to purchase NFTs with DOGE will increase its utility.
Two things I believe would help Dogecoin:
1) Completion of DOGE-ETH bridge
2) NFT platforms (e.g. Opensea) allowing for the DOGE-ETH token to be used for purchases
NFTs purchasing is high demand with crypto. Allowing for DOGE purchases of NFTs greatly increases its utility.
— Shibetoshi Nakamoto (@BillyM2k) September 29, 2021
Including Doge in the NFT space would be a massive benefit to the community.
3 – Ripple to Fuel Crypto Adoption with USD 250M Fund for NFT-based Projects
According to reports, Ripple Labs is launching a USD 250 million fund for creators, marketplaces, and brands. The finance drive also enables them to explore new use cases for NFTs on its platform.
Monica Long, GM of RippleX, published the announcement in her Twitter account.
I was thrilled to open today’s inaugural #ApexDevSummit with some fantastic news: @Ripple is launching a $250M Creator Fund for creators, developers and brands to explore new use cases for NFTs on the XRPL! https://t.co/RDmtkgiK8q
— Monica Long (@MonicaLongSF) September 29, 2021
Ripple’s concern drives towards creating the tokenized digital artwork.
Ripple said: “We believe NFTs embodies the promise of tokenization and represent a tipping point for its embrace by the mainstream.” As indicated, MintNFT is some non-fungible marketplaces that would be the first to access the fund.
4 – TikTok Announce its First NFT Project
During the week, TikTok has announced the creation of NFTs with creator-led collections.
The most recent development is its big step into the world of non-fungible tokens. Leading tik-tokers motivated a new digital art style of content. Some of the leading tik-tokers will include Bella Poarch, Lil Nas X, and others.
Per the TikTok Top Moments program, creators can be rewarded for their content.
Source: Tik Tok
Tiktok Top Moments was developed on Ethereum and powered by Immutable X. This is a new scaling solution for layer-two NFT protocol. The NFT will include a selection of six TikTok videos.
5 – NFT Trading Game Axie Infinity Unveils New Rewarding Staking Program
Axie Infinity trended during the week as it launched a staking program. Now, users can now stake their $AXS tokens, with rewards lined up soon.
As announced on Thursday, players who hold $AXS can begin staking them. To make sure all time zones could be stake beforehand, rewards will be issued in 24 hours.
The Axie Infinity team said: “Staking is a way for us to reward our community members for having a long-term mindset and locking up their AXS tokens.” Meanwhile, the Axie Infinity team revealed their plans to give a say over the use of the Community Treasury through the new staking program.
Finally, in the first month, the program will distribute over two million $AXS tokens. Currently, almost 58 million of the set cap of 270 million $AXS tokens are in circulation. The remaining will be issued out via staking, game rewards, and ecosystem rewards.