NFTs continue to emerge in different areas and industries as they enter our lives. Thanks to blockchain technology, companies can offer different projects to support both physical and digital products in this field to the liking of users. Although the NFT market is going through a tough period, globally renowned companies continue to appear in this field. So what happened in the NFT market this week?
Statements from Yuga Labs CEO
Yuga Labs announced that some positions have come to an end throughout the company this week. The company, the creator of Bored Ape Yacht Club, stated that this happened due to a restructuring within the company. The announcement did not provide information about how many people were laid off, but in a blog post shared on X on October 6, CEO Daniel Alegre stated that the company had deviated too far from its core priorities and had taken on too many projects:
“I quickly realized that, despite their good intentions, there was a series of projects that greatly weakened our team or required application expertise beyond our core competencies. In order to create truly great experiences that are important to our communities and our business, we need to invest our budget in fewer key ventures and work with complementary external partners to realize these experiences.”
In his forward-looking statements, the CEO also indicated that the company will build a Web3 community, work with full force on the Otherside metaverse project, and establish brand partnerships.
Nike Introduces New Shoe Series
Famous sportswear store Nike continues to be present in Web3. The company’s Web3 subsidiary, .Swoosh., introduced its first physical sports shoe series. The shoe collection named Air Force 1 Low Tinaj includes a combination of white and black panels with blue .Swoosh. logos.
According to the announcement made on X on October 5, the sports shoes will be offered only to .Swoosh. members who purchase and hold at least one OF1 Box NFT until October 16. The base price of the NFT collection was $120 at the time of writing and can be purchased from the .Swoosh. website.
The team also stated in the announcement made on X that not everyone who owns the NFT will be able to order the shoes. It was announced that the stocks are limited, but no exact number was given. NFT holders who cannot own the shoes will most likely be able to benefit from different advantages.
Starbucks Releases NFT Collection
Famous coffee shop chain Starbucks has launched its Pumpkin Spiced Latte NFTs for sale. The mint activity of the NFT collection, available on Nifty Gateway, started on October 5 and will continue until October 9.
With a price of $20, the NFT collection has seen 1,260 NFT mint transactions so far, indicating that Starbucks has earned a little over $25,000 from this collection. These NFTs are part of the famous company’s Web3 loyalty reward program called Starbucks Odyssey, and users earn points through activities within this program.
