Big brands are using NFTs not for their own sake, but to literally gatekeep products and services for those who buy into the blockchain.
There’s been a lot of talk recently about NFTs, mainly that the vast majority of them are now damn near worthless. Or at least, that’s what the detractors are saying. One report from crypto analysis firm dappGambl that’s making the rounds looks at the price of current NFTs using public crypto scanning sites like CoinMarketCap and NFT Scan found that 69,795 out of 73,257 NFT collections have a market cap of 0 Ether.
The company launched the ability for artists to sell token-gated tickets, which forces users to buy an NFT to unlock certain perks like digital memorabilia, but it could have also been used as a ticket to attend events. The company was using the Ethereum blockchain for this rollout, despite previously using a16z-backed Dapper Labs’ Flow blockchain.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
24 Latine-Owned Food And Drink BrandsMy kitchen has never tasted better.
Read more »
Salone del Mobile 2023: A Guide to Design and Fashion Brands' ProjectsWhip out your most comfortable shoes to take it all in.
Read more »
Blackpink's Lisa, BTS' V, (G)I-dle's Minnie Love These Small BrandsWhile they have signed deals with major luxury labels, K-pop groups are welding their star power to champion small brands, too, including Lucila Safdie, Shushu/Tong and Fancì Club.
Read more »
Miu Miu Takes First Place on Lyst Index’s Hottest Brands ListFor the first time Miu Miu grabbed the top spot in Lyst’s quarterly ranking and its logo cashmere cardigan was among the hottest products in the third quarter.
Read more »
J.M. Smucker taps corporate bond market to fund cash portion of Hostess Brands dealSmucker is buying the Twinkies parent in a cash-and-stock deal valued at $5.6 billion
Read more »
These 8 Period-Care Brands Will Now Reimburse You for the Discriminatory ‘Tampon Tax’Eight period-care brands banded together to form the Tampon Tax Back Coalition, which will reimburse you for any tampon tax you pay.
Read more »