To keep readers abreast of developments concerning the NFT sector, Altcoin Buzz has compiled the latest updates from the first week of September.
The NFTs space never ceases to come up with new episodes of interesting updates. If you want to keep track of the top five developments in the NFT industry during the first week of September, check this out:
1 – NBA’s Stephen Curry Acquires $206,000 NFT Bored Ape
Stephen Curry, the NBA superstar player, has ventured into the NFT space with a $206,000 Bored Apes purchase. Curry effectively handed away 55 Ether (ETH).
— Storm🌪 (@CryptoStorm__) August 28, 2021
To clarify, Bored Ape Yacht Club NFT is a symbol showing a blue-furred monkey dressed in a plaid suit. Stephen Curry purchased the NFT on Saturday to add to his collection of NFTs in OpenSea. The basketball star has a total of 20 collectibles.
On the other hand, the star player has always stayed active on the Bored Ape discord group. In fact, He’s even updated his Twitter profile photo to show his new NFT.
2 – Crypto-Themed Animated NFT Series Lands Sponsorship Deal With 1inch
Per the announcement, the crypto-themed animated NFT series has received a significant boost with the announcement of a sponsorship scheme by 1inch Network.
Therefore, besides sponsoring the NFT series dubbed “Take My Muffin,” 1inch will expose team members to DeFi projects and provide technical support for the presentation. The program is set to premiere in 2022.
As a result, Anton Bukov, an executive at 1inch network, thinks a partnership of this nature shouldn’t surprise anyone. He also said: “Take My Muffin was financed by the crypto community from the very beginning. It’s actually the very first crypto-funded animated series.”
Also, Sergey Maslennikov, the company’s head of communication, underlined that the interaction will be incorporated into the show’s storyline beginning with the first episode. He also said: “This partnership should help 1inch reach a broader general audience. Of course, it’s fun — and DeFi segment should try to save this mood instead of turning into another traditional and boring banking-alike industry.”
3 – Doge Meme Valuation Goes Out of the Roof Following Fractionalization
Over the past week, Doge made another major headline as its Shiba Inu meme hits a $220M valuation. The development occurred at the same time that Sotheby’s Bored Apes sale, which is expected to fetch $18 million, emerged from the NFT area.
The Doge meme NFT’s skyrocketing valuation is coming to the surface just after the successful fractionalization into $DOG Tokens. It is soaring to a valuation of about $220 million already following the profitable fractionalized token sale this week.
On the other hand, earlier in the past week, Doge meme creators, PleasrDAO fractionalized the NFT into 17 billion ERC-20 $DOG tokens. About 20% of the tokens were sold on Miso (owned by SushiSwap) on the 1st of Sept. Here is their tweet:
— ✨ PleasrDAOGE 🐶🎥 (@PleasrDAO) August 31, 2021
Certainly, the $DOG tokens bought during the auction can now be traded through decentralized exchanges like Uniswap and SushiSwap.
4 – US Blockchain Firm Simba Chain to Scale up NFT Drive With $25 Million Funding
Simba Chain, a major US defense contractor, is set to boost its NFT push with a new $25 million investment.
Simba itself is a US-based blockchain project that builds technology for many organizations under the U.S defense system. In other words, after this week’s recent breakthrough, the firm is also aiming to scale up its operations by using new prospects, such as the growing NFT industry.
Finally, Valley Capital’s Series A funding round was done in partnership with other notable organizations with blockchain interests. These organizations reportedly include Notre Dame Pit Road Fund, Elevate Ventures, among others.
5 – Young British Boy Sold NFT Without a Bank Account
Developments are showing that anyone could make it from the NFT industry as a British kid just did hitting big on NFT Sales. The teenager earned close to $400K through sales on the non-fungible token without a bank account.
The kid, Benyamin Ahmed sold the tokenized digital pieces he created during school holidays.
While on Geo.TV, the blockchain prodigy, couldn’t contain his excitement selling NFT images he created “without having a bank account.”
The young latest artwork’s success has a lot to do with Twitter, where it caught the attention and went viral.
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