NFTs In A Nutshell: A Weekly Review

Another week of NFT action and it was host to new brands entering the space, more exchanges opening up the door to NFTs, and more major entertainment IP getting ingrained into the blockchain space. During a bumpy week in crypto at large, it’s always nice to get away for a bit with some NFT news.

It was another bustling, busy week of action in NFTs while some of the biggest names in the space collide in Miami for Art Basel. I’m not sure if NFTs ever sleep.

Let’s jump in on the past 7 days of NFT action.

This Week’s Non-Fungible Token News

Blockchain.com To Launch NFT Marketplace

Emerging NFT marketplaces continue to hit the market as many of the industry leaders face up-and-comers. In the weeks to come, crypto exchange and wallet company Blockchain.com will be unveiling their own NFT marketplace, with a first taste available through early access registration to the beta marketplace for Blockchain.com users.

Spider-Man NFTs From AMC & Sony

It shouldn’t surprise many to hear AMC in the same sentence as anything crypto-related these days. This week, it’s a new NFT release available exclusively to Stubs Premiere, Stubs A-List, and Investor Connect members. The Spider-Man NFTs are courtesy of both AMC Entertainment and Sony, in anticipation of the upcoming Spider-Man: No Way Home release. 86,000 NFTs are minted in the series.

It’s a fitting marketing tactic given other Marvel IP That we’ve seen thus far, by way of their partnership with marketplace VeVe. CEO Adam Aron has said that the NFTs helped contribute to the second-highest one-day ticket sales in company history. Not a bad rebound for a business hard-hit from the pandemic. The NFTs were powered by the WAX blockchain.

Sony doubled down over the week in NFTs, too; Sony Music announced that Baby Shark IP would be integrated into NFTs on MakersPlace.

Will NFTs Get The Short End Of The Tax Stick?

Speculation is abound to close the year, as volatility in traditional markets, crypto markets, and NFT markets is present. This week, we highlighted one Bitcoin veteran who is a skeptic when it comes to the next 30 days of NFTs.

However, given the massive rise of popularity in NFTs this year, it’s debatable regarding how much tax loss implications will have on general market movement. Don’t be surprised if it impacts some NFT communities harder than others, given the variation we’ve seen in the market thus far.

Seattle’s Own ‘NFT Museum’

The collaboration of physical and digital is always a topic of discussion around NFTs. While we’ve seen some digital NFT museums, and we’ve seen some NFT galleries, we haven’t seen too many dedicated NFT museums. That looks to change to start 2022, with the Seattle NFT Museum (SNFTM).

The museum will host local artists’ work, as well as pieces from leading NFT projects, including a Chromie Squiggle and CryptoPunk.

Related Reading | South Korea Postpones Crypto Tax, Looking For Votes?

Polygon was mentioned in last week's Nutshell for hosting designer brand Givenchy's first NFTs. This week, the blockchain gets a shoutout once more for furthering investment in gaming NFTs.| Source: MATIC-USD on TradingView.com

Wikipedia’s First Edit Becomes The Latest Headlining NFT 

In the crypto community, some have described Wikipedia as a baseline idea of what a DAO is; at it’s core, both are community-driven and operated. So it’s fitting that the first Wikipedia edit, made by the site’s co-founder, is set to be auctioned as an NFT, according to a press release from Christie’s.

Wikipedia co-founder Jimmy Wales made the edit, saying “Hello, World!” back in 2001 – the first of many iterations of page edits and adjustments over the past two decades.

Polygon Continues The Gaming Push With NFTs

Earlier this year, Polygon established Polygon Studios, a $100M incubator for NFT gaming projects. This week, Polygon continued their gaming initiative with a new partnership with GameOn Entertainment. Polygon will invest in GameOn’s product development costs.

GameOn works with entertainment companies to provide “white label prediction games, fantasy games, NFT-based games and adventure-style games.”

Lamborghini To The Moon?

Throughout the year, we’ve covered a few different major automotive brands that have explored NFTs. The latest is Lamborghini, who teased on social media this week their first foray into NFTs, titled NFTPRO. While details around the program are limited, many believe it will be the brand’s first NFT series. We’ve seen brands like Porsche, Nissan, and others already explore – and don’t be surprised if more join the ranks.

Budweiser’s First NFT Drop Sells Out In Under An Hour

In July, Budweiser signed a deal with VaynerX’s fresh NFT division. This week, the brand launched it’s first ever NFTs – nearly 2,000 unique ‘Heritage Collection’ beer cans. The collection sold out in under an hour.

The brand recently bought the beer.eth domain for just under $100,000 – which they used as their Twitter username.

Related Reading | Behind The Masks: Actor Jordi Molla To Launch New NFT Collection On December 8

Featured image from Pexels, Charts from TradingView.com