Bold Plans for NFT-Linked Restaurant Halted, Binance Ends Support for Polygon NFTs, Reddit Launches NFL NFTs, Rumble Kong League Collaborates with Stance, OnChainMonkey Shifts Collection to Bitcoin
Summary:
Plans for a non-fungible token (NFT) linked restaurant and members lounge in San Francisco have been halted due to challenging macroeconomic factors. Binance NFT marketplace is discontinuing support for Polygon-based NFTs. Reddit launches NFL-themed NFT avatar collectibles. Rumble Kong League collaborates with Stance to release physical basketball socks. OnChainMonkey transitions its NFT collection from Ethereum to Bitcoin.
The ambitious plans for a non-fungible token (NFT) linked restaurant and private members lounge in San Francisco have come to a halt due to challenging macroeconomic factors. The company behind the project, Sho Group, has decided to halt construction and terminate its lease agreement in July. The venues, named "Sho Restaurant" and "Sho Club Sky Lounge," were being built on Salesforce Park and were exclusively accessible to holders of the Sho Club NFTs. However, the rising costs of construction, labor shortages, supply chain disruptions, geopolitical uncertainty, and inflation have made it impossible to continue the project. The CEO of Sho Group, Joshua Sigel, has confirmed that the company has refunded all NFT buyers.
Binance NFT marketplace has unexpectedly announced that it will discontinue support for NFTs based on the Polygon network. In a recent blog post, Binance NFT stated that its "The Sandbox NFT Staking Program" will be discontinued later this month. The program allowed users to stake their Polygon-based LAND NFTs from The Sandbox and earn SAND token rewards. However, starting from September 26, the program will be shut down and users' NFTs will be automatically unstaked and returned to their spot wallets. Binance NFT has also stated that support for the Polygon network will come to an end on the same day, and users have until December 31 to withdraw their Polygon NFTs from the marketplace. More details will be provided to impacted users at a later date.
To celebrate the start of the new NFL season, Reddit has launched NFL-themed NFT avatar collectibles. The collection, which was launched on September 7, features all 32 NFL teams. Each NFT is being sold for $25 and showcases the Reddit Snoo mascot wearing different team uniforms. Currently, there are 500 tokens available per team, and it appears that there are still over 400 NFTs available for most teams. This suggests that there hasn't been a high demand for these collectibles so far.
In a collaboration with NBA star Paul George and popular brand Stance, the NFT project Rumble Kong League has released physical basketball socks. This release is part of a broader project called Hyper Socks, which will eventually include a 3v3 basketball game with play-to-earn features. The first stage of the project involved the sale of tokenized socks that can be used in the upcoming game. Now, the second stage has begun with the sale of 250 boxes of physical Stance socks featuring cartoon gorilla avatars from Rumble Kong League. This partnership with Stance, known for its ties to the NBA and other pro sports leagues, is a significant mainstream collaboration for the NFT project.
The team behind NFT project OnChainMonkey is undergoing a massive undertaking by shifting its entire collection of 10,000 NFTs from Ethereum to Bitcoin. This transition is expected to take several months to complete. Additionally, the Base network's "Onchain Summer" promotion in August resulted in over 700,000 NFTs being minted by more than 268,000 unique wallets. This exciting development was announced by the team on September 6.
Published At
9/9/2023 7:08:58 AM
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