From Music to Marketplaces: NFT Use Cases Continue to Expand
By Lauren Bass
According to recent reports, a Philadelphia rapper has announced that the final installment of his mixtape series will drop as a non-fungible token (NFT). Details regarding the release – including the choice of marketplace and the price for the digital album – have yet to be confirmed.
In more NFT news, a U.S. clothing retailer has reportedly teamed with a popular artist to create a bespoke NFT series, launching this week on the Tezos blockchain. Separately, a nonprofit news agency has reportedly announced plans to launch a proprietary marketplace on which it plans to sell NFTs of photographs pulled from the collective’s 175-year-old archives. According to reports, the NFTs will be minted on the Polygon blockchain and will contain detailed metadata describing the history of each photograph.
With an eye on an official opening in 2023, a New York restaurant has reportedly begun selling memberships to its private dining club through an exclusive NFT offering. According to reports, the NFTs – which range in price from 2.5 ETH (approx. $8,000) to 4.25 ETH (approx. $14,000) – grant prospective patrons various levels of eatery access, ranging from the restaurant’s main dining room and outside terrace to its private 14-seat omakase room. Food, however, is sold separately.
In a final development, this week a new decentralized NFT marketplace launched. According to reports, in just one day the marketplace hosted more than $100 million in NFT trading volume and has had more than 75,000 Ethereum addresses claim the airdrop of its governance token.
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