Nifty News: Dolce & Gabbana‘s historic NFTs, ’26 minute’ CryptoPunk flip, FTX spammed. Pranksy was accused of wash trading a CryptoPunk NFT by people on Twitter, Dolce & Gabbana is auctioning premium NFTs to “approved bidders” and FTX was spammed with tokenized fish.
Dolce & Gabbana knocking on the Dior of NFTs
Fashion house Dolce & Gabbana has made its debut in NFT with an exclusive collection of nine tokenized fashion pieces collaborating with the Polygon-based UNXD Marketplace.
The fashion giant Dolce & Gabbana was originally founded by designers Domenico Dolce and Stefano Gabbana in 1985. Significantly, the company has evolved over the years to be a fashion icon that offers high-end fashion with exorbitant prices.
The collection’s name is “Collezione Genesi” and it includes nine one-of-one NFTs which will be auctioned as of Sep. 20. Moreover, the NFTs portray illustrations and digital artwork of clothes created by Dolce and Gabbana which will be used as wearables in an unspecified metaverse.
On the other hand, these NFTs will not be available for normal NFT users. As the company is permitting only “approved bidders” to partake in the exclusive auction.
Despite a lack of details at the time of publication, the firm plans to announce an “ambitious roadmap” next week.
“As with all prosperous NFT projects, this premiered collection is only the beginning. We assure you that there will be exclusive pleasant thunderbolts in the very near future”, the company stated.
Temporary CryptoPunk mystery
This week, there were reports that prominent NFT whale Pranksy sold a CryptoPunk NFT for $1.23 million after holding it for just 26 minutes.
Web Smith, a writer for online publication 2PMinc, tweeted in this regard: “If you went to school to specialize in wealth management or finance, This moment in time will likely paralyze you”.
In fact, the NFT in query is CryptoPunk 6275 which illustrates a green zombie with a mohawk. Its transaction record shows that Pranksy purchased it for 1,000 Ethereum (ETH) worth $3.89M on Sep.4. However, according to transaction data, Pranksy held the NFT for six hours before selling it for $5.12M later in the day. Smith’s claim that the CryptoPunk was held for 26 minutes seems to be incorrect. Calvin Ayre, CoinGeek founder, who believes that everything is a rip-off, and who is rick enough to make libellous statements without evidence, questioned whether or not it was “to govern the market or launder cash, or each. That is the solely actual query”.
Pranksy himself tweeted about the trade on Sept. 5. Asserting that liquidity is key when dealing with NFTs.
Rakuten to launch NFT marketplace
Japanese e-commerce tycoon Rakuten will also launch an NFT marketplace in the spring of 2022.
Apparently, Rakuten’s NFT marketplace will follow the same path as Jack Ma’s Alibaba-based platform. Aiming at allowing IP holders to promote their tokenized content material such as music, entertainment and anime.
Rakuten’s other services include eCommerce, fintech, telecommunications, and entertainment. Users can obtain NFTs as a reward or prize in connection with other products or services offered by the firm through the new NFT marketplace. Users will also be able to use Rakuten points to trade on the NFT marketplace.
Rakuten has long been a proponent of crypto and blockchain technology. Reportedly in March, the firm amalgamated its digital wallet with its online shopping platform. To enable customers to pay with bitcoin while shopping online.
FTX spammed with fish
After FTX launched its NFT marketplace, it was spammed with an overwhelming number of fish pictures that it temporarily modified its NFT submission price to $500.
Consequently, founder and multi-billionaire Sam Bankman-Fried tweeted on Sept. 6. He wrote, “as a result of the high volume of submissions containing such little content as fish pictures, NFTs will now have a one-time submission fee of $500”.
In response to the move, many users noted that the new fee structure would discourage people from using the platform. In light of cheaper alternatives available on the market.
Consequently, Bankman Fried listened to the concerns of the community. And announced on Twitter that the platform will remove the $500 fee. And rather charge a flat $10 for every coin minted.