In the past few weeks, the non-fungible token (NFT) industry continues amassing massive traction across many sectors of the global economy. Prominent individuals, governments, sports hubs, and notable institutions are investing in the rapidly growing sector of the digital assets industry. Tai Lopez and Alibaba are perfect examples among those shifting their focus on the rapidly evolving NFT ecosystem.
Mid this week, the non-fungible token community expected that the crypto market would flourish after Tai Lopez, the controversial entrepreneur and social media influencer famous for his oddball marketing tactics, surprisingly launched his NFT project.
Tai lopez has to be the top. this madness cant continue.
— fxnction aka i gotabigdick.eth (@0x_fxnction) March 5, 2022
The NFT project dubbed the “OG (original garage) Social Club “will feature NFT collectibles inspired by a highly memed-on ad in 2015. At the time, Lopez controversially exhibited his brand new Ferrari and 2000 new books in his garage to promote his business courses of allegedly dubious value.
Lopez’s NFT comes in three gaming levels of rarity, including the silver “Mentorship” card, gold “Mastermind” cards, and block “1on1” Mentorship cards. All these game levels will give the user access to online social clubs and varying levels to reach Lopez himself.
In the silver level, an NFT is currently priced at 18.4 Ether (ETH) worth roughly $50,000, giving the owner a chance to win just $10,000 via one virtual basketball gameplay with Lopez. An NFT from the gold level allows the participant to watch a two-hour movie with Lopez once per year for three years.
Alibaba’s Message Gun Scandal
Alibaba, an online Chinese multinational technology and e-commerce company, has recently suspended more than 680 users from its NFT marketplace Jingtan. The users were banned for allegedly using message guns and computer software to spam the purchase process of non-fungible collectibles on the platform.
According to one Alibaba spokesperson, many users used the message guns to perform rapid mouse clicks on buy buttons, bypassing payments. In the meantime, all accounts suspected of spam buying have received one-year suspensions. Jingtan has described the activity as “cheating and violation” of the user policy.
English Premier League (EPL) Eyes NFTs
English Premier League (EPL), the most popular pro-football league globally, is reportedly intending to shine in the non-fungible ecosystem. It is set to join other projects such as Dapper Labs’ NBA Top Shot.
According to The Telegraph reports published mid this week, all 20 clubs have already discussed the sale of NFT rights, waiting to license NFTs later this year. For now, the league is carefully determining which blockchain to partner with to deliver that project.
Bored Ape Yacht Club Shrinks By 65% In 30 Days
The recent market analysis confirmed that Bored Ape Yacht Club (BAYC), a popular charitable non-fungible marketplace, has dropped 65% in trade volumes over the past 30 days. According to DappRadar, BAYC generated $92.14 million in the past month from 526 traders.
Although the general NFT market appears strongly bearish, BAYC’s decreased volume maybe its booming floor price. BAYC floor price is 21.16% up over the past 30 days to around $197,800, despite the recent market turmoil.
Other NFT News
Crypto exchange Crypto.com announced the official airdrop of its “The Moment of Truth” non-fungible token this week, featuring Los Angeles Lakers forward player LeBron James. The airdrop also featured 5,550 rapidly selected viewers of its Super Bowl commercial.
The Sandbox metaverse also announced that it has partnered with “World of Women” to launch the (WoW) Foundation. Sandbox has allocated $25 million to fund this foundation in five years.
