Top Non-Fungible Token (NFT) Updates | August Week 1

To keep readers abreast of the recent developments from non-fungible tokens (NFTs), Altcoin Buzz has compiled the latest updates from last week.

The past week has been an interesting one. We’ve followed the development of the sale of NFT collectibles which stimulate more sales in the space. There has also been rising integration with other sectors as championed by a crypto derivative exchange, FTX.

1 – EtherRocks Rocks Record Huge Sales

Following another huge milestone recorded with NFT’s CryptoPunk which saw the collectible changing hands for 3.7million worth of Ethereum with the buyer ‘still buying’, EtherRocks, another of its kind, is showing some bragging rights. Investors are staking a huge amount on the NFTs’ collection of digital pet rocks.

The latest event is remarkably stunning as a single of these rocks was auctioned for a whopping 45 Ethereum (ETH) on Sunday. This is around $135k at the time of the report.

As one of the very first NFTs crypto-collectibles powered by Ethereum, only 100 would ever be minted. With the 100 already sold off before now, the NFT market is inciting investors to scramble for the Rocks to be put on resale – spiking up the prices consequently.

The market secondary prices range from 31 ETH, roughly $96k. To a whopping $1.9 billion, which is about 626,262 ETH.

2 – NFT Market, MakersPlace, Secures $30 Million Through Crowdfunding

During the week, MarkersPlace, a market for NFTs digital art collectibles, landed a $30 million worth of reimbursement. This is a Venture fund is to support NFT plays with immense potential.

The funding was generated through the Bessemer Venture Partners and Pantera Capital initiative. Also, getting backing from other ventures like Coinbase Ventures, Uncork Capital, Sony Music Entertainment, and more. Besides, Eminem, Sabrina Hahn, Acquavella Galleries, and Paul Rosenberg, are among notable angel investors having their hands in the fundraising.

“MakersPlace has formed a top-notch team that has designed a user experience that seamlessly introduces creators and collectors to this new paradigm,” Paul Veradittakit, a stakeholder at Pantera Capital, said while affirming the potential of NFTs in powering the next-gen of digital art and collectibles.

3 – FTX Enters Partnership to Expand NFT Marketplace Into Multiple Sectors

During the week, LCS partnered with FTX, the foremost crypto and derivatives exchange chaired by billionaire Sam Bankman-Fried. The company similarly is staking big in the NFT industry with a new collaboration with Dolphin Entertainment.

The partnership is focused on creating a marketplace for the NFT arts and collectibles. They’ll target brands and labels within the sports, gaming, entertainment, charity, esports, and other industries.

Reacting to the development, President of the exchange in the US, Brett Harrison, said: “We are excited to build marketplaces with Dolphin, both because of their ability to access content and IP, but also because they are leaders in public relations and influencer marketing for every major vertical of entertainment.”

4 – NFT Sales to Go Live With Top Shot Plans Imminent

During the week, the news made circulation about the intention of the Dapper Labs’ prominent pro-basketball (NFT) collectibles Top Shot to auction exclusive NFT tokens at live basketball games scheduled to be held in Las Vegas in the coming week.

According to reports, the minted NFT for the game has been dubbed “Moments”. It would be available for exclusive sale from a physical setting. The coming event will be the first of its kind that Moment will go live at the basketball games.

Reports also indicated that the total number of Moments to be minted will be determined by the level of demand, while 1,000 copies will be prepared for each highlight of the games on August 8, 9, and 10. Fans are also restricted to purchasing 10 Moments daily per individual.

5 – UN to Explore NFT Marketplace Fight Against Climate Change

According to reports on Tuesday, the United Nations is looking at the possibility of harnessing the NFT blockchain platform Unique Network to encourage others to join the fight against climate change.

The program dubbed, “DigitalArt4Climate” will mint works of young artists as NFTs, and encourages them to create works inspiring people to take positive actions for the environment.

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