This week’s news
New reports point to a slowdown in NFT trading, but developers are still deploying smart contracts on blockchain.
Etihad Airways plans to launch a Web3 loyalty program that allows frequent fliers to stake NFTs for miles.
The team behind Ordinals protocol is creating a non-profit to maintain development integrity.
Alpha breakdown
NFT trading has seen a decline this month, according to reports.
Etihad Airways will launch the “Horizon Club” loyalty program, allowing NFT holders to stake their tokens for flight perks.
Ordinals protocol is establishing a non-profit organization to ensure developers are compensated fairly without corporate influence.
Project Spotlight: CryptoPunks
CryptoPunks, one of the earliest and most popular NFT projects, experienced high-value trades this week.
The purchases, including one by Beeple, indicate a potential NFT renaissance.
Well-known figures like Beeple participating in NFT communities boost morale.
In Other News
Gucci Vault Material NFT holders can exchange their tokens for luxury items.
Web3 golf community LinksDAO is offering new membership options for its golf course.
Yuga Labs, parent company of Bored Apes, will acquire Roar Studios for metaverse development.
NFT publication NFT Now has laid off staff due to over-hiring.
Kraken plans to put crowdsourced NFTs on a race car during the U.S. Grand Prix in October.
Adam DeVine is featured in Bitget’s new campaign.
Non-Fungible Toolkit: Tokenizing Real-World Assets
Tokenizing real-world assets allows for fractional ownership, making expensive assets more accessible.
Buying “shares” of an artwork is the concept behind tokenization of real-world assets.
Hot Take
Despite the recent slowdown in NFT trading, the launch of Etihad Airways’ loyalty program and the success of CryptoPunks trades suggest a positive future for NFTs. The involvement of well-known figures like Beeple and the development of new initiatives in the NFT space indicate continued interest and potential growth. Tokenizing real-world assets also presents an exciting opportunity for wider access to valuable assets. With ongoing developments and innovative projects, the NFT market is poised for further evolution and expansion.
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