The Nightly Mint: Daily NFT Recap

After yesterday’s Mint coverage around the incoming NBA NFT release, today’s drop was more… flop. Meanwhile, the long-awaited Coinbase NFT platform is finally opening it’s doors, albeit only to a limited amount of beta testers thus far.

A lot of hype with limited delivery in today’s Mint, but that’s just how the cookie crumbles sometimes. We’ll give you a quick dose of reality Monday through Friday with all the biggest stories around NFTs.

The Nightly Mint

Latest Mint: Coinbase’s NFT Platform

In a new announcement today, Coinbase shared that after first introducing Coinbase NFT last year, the company is finally rolling out the product. It started today with limited access for beta testers, based on their position on the waitlist. Ethereum, of course, is the first blockchain to be supported on Coinbase NFT; screenshots shared thus far have compared Coinbase NFT to the likes of Instagram, with profile pages, ‘followers’ and ‘following’ tabs, verified checkmarks, and comment sections. The crossover between social media and NFTs is inevitable, and Coinbase certainly could serve as the first true bridge.

Related Reading | Looking Back On Coinbase’s First Year On The Stock Market

Coinbase has taken heat for it's lack of movement on it's NFT product, but critics will need to shift their critique this week, as the company has finally unveiled it's beta version to limited testers. | Source: NASDAQ: COIN on TradingView.com

A Follow Up On NBAxNFT

Yesterday’s Mint praised the NBA for being one of the most aggressive sports leagues in the growing blockchain landscape. Unfortunately with aggressive moves, comes risk, and the dynamic NFTs – powered on Ethereum – released today fell short of expectations. ‘The Association’ collection had a contract error that did not limit or gate transactions as intended, leaving some users with the ability to mint over 100 NFTs.

We recognize the issues with the smart contract which caused the Allow List supply to sell out prematurely. We apologize for this situation and are currently identifying the Allow List wallets that were not able to mint as a result.

— NBAxNFT (@NBAxNFT) April 20, 2022

The ‘Minty Fresh’ Take

A great recap from @TopshotTandy on Twitter to reflect how much of a mess today’s NBAxNFT release was. Kudos to the league for continuing to take risk, but as we’ve seen time and time again in this space, without diligent and careful engineers, things can go south quickly.

Today was @NBAxNFT 10,000 Allow List mint. The rules were "1 NFT per wallet". Yet there are 15,925 minted, some wallets with up to 100 NFTs. pic.twitter.com/Lt2TMkp8Rf

— Tandyman (@TopshotTandy) April 20, 2022

Related Reading | Why Ripple CTO Criticized Elon Musk’s Free Speech Stance

Featured image from Pexels, Charts from TradingView.com
The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.