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Social media platforms activated NFTs last week. TikTok and Twitter have both caught the attention of NFT communities as the platforms take steps to anchor NFTs in their respective businesses. Meanwhile, Dogecoin co-founder suggests NFTs could be a solution, and Epic Games CEO Tim Sweeney is yet to sell on NFTs.
It’s just another week full of NFT headline action. Let’s dive into the last seven days of action in the world of non-fungible tokens.
News of this week’s non-fungible tokens
Twitter teases the NFT’s ‘ticks’
Sometimes things can change quickly in crypto. After last week’s Nutshell covered Twitter’s initial interest in checking NFT avatars, we’ve already seen some development.
Our Bitcoinist team covered the first glimpse that was revealed of what this verification process might look like, after a Twitter software engineer provided a snapshot.
The main comments from the NFT community centered around accessibility and dealing with bogus projects on OpenSea.
NFT on DOGE?
If you’re no new to crypto, you’ve probably heard of Dogecoin’s moderate performance lately. Dogecoin co-founder Billy Markus has suggested in recent days that NFT compatibility and a Dogecoin-Ethereum bridge could be two major catalysts that could help the future of the token itself.
DOGE volume and falling prices put the token in danger of falling into the top 10.
Rugpull of a project based on Solana
It’s not always the sun and the rainbows. The NFT project “Iconics”, which was reportedly led by a 17-year-old 3D artist, pre-sold 2,000 NFT at 0.5 SOL. With nothing to show, the project withstood more than $ 100,000 from SOL. The promised artwork was not delivered and the artist’s Twitter account disappeared. The project’s Discord channel has not had any subsequent announcements, and general chat is disabled.
The money taken from the presale was split across multiple accounts, according to reports. Solana had problems with authenticity and roughness at the start of the NFT engagement. Hopefully there will be better days for Solana NFT fans.
Related reading | NFT Virtual Land platform prices increase by 42,000% in one month
TikTok aims for limited NFT release
TikTok teamed up with Immutable X last week and announced its first NFT release. Next week, the social media powerhouse will publish a limited set of NFTs curated by the creators. The initial version is featured by creators like Lil Nas X, Bella Poarch, Gary Vaynerchuk, and more.
Solana (SOL) had a skyrocketing September, and looks to continue holding high ground despite some challenges in the NFT space. | Source: SOL-USD on TradingView.com
The first NFTs of the variety
We’ve seen a few mainstream media companies get involved in NFTs, but Variety became the first entertainment industry publication to do so last week. The company hosted a “Power of Women” event in Los Angeles and partnered with Sweet to provide attendees with a special NFT.
The post shared that by the end of the year, they expect Variety’s famous titles and front pages to have increased exposure on the Sweet platform.
Ripple’s New Creators Fund, Focused on NFTs
Ripple (XRP) has had its fair share of headwinds in recent years. However, at its last developer summit, the platform announced a new $ 250 million creation fund. The fund aims to strengthen the engagement of creators on XRPL.
Solana, Polygon and Flow are just a few blockchains that have made significant strides to become major players in the NFT space; Could Ripple be the next to make a name for itself with crypto creators?
Epic Games’ Sweeney: ‘Don’t Touch’ NFTs
Epic Games have created legendary games over the years, such as Fortnite and Rocket League. NFTs still have ties to the video game landscape, mostly because of the concept of “digital ownership” inherent in things like Fortnite and CS: GO skins and envelopes, or FIFA Ultimate Teams, for example.
However, Epic CEO Tim Sweeney tweeted this week that Epic does not “touch” the NFTs, citing too many scams in the space.
An automotive NFT
Of course, we’ve seen some racing engagement in crypto. In August, Porsche even auctioned off a digital sketch as an NFT on SuperRare. However, we haven’t seen too many dedicated NFT hires. This week, Ford hired a new global brand merchandising manager, directly citing NFTs as a potential option in the company’s expanded brand offerings, according to AdAge.
Ford has faced increased competition from the first electric brands to hit the market, so it will be interesting to see if the company turns to NFTs in an engaging and unique way to potentially connect with consumers.
Related reading | Cardano Welcomes Ardadex Protocol as First Organized Decentralized and NFT Exchange Marketplace
Featured image from Pixabay, Charts from TradingView.com
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