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A U.S. luxury jeweler has reportedly partnered with the popular
NFT (non-fungible tokens) collection CryptoPunk to transform the
digital collectibles into wearable works of art. According to
reports, for 30 ETH (approximately $50,000), current CryptoPunk
holders can purchase a unique “one-of-a-kind jewelry
experience” NFT, which will allow their CryptoPunk digital
avatar to be reimagined as a customized diamond-encrusted pendant
necklace. Only 250 “experiences” will be available.
Within 24 hours of the announcement of this exclusive
collaboration, CryptoPunk sales reportedly increased 248
Following the debut of its premiere collection earlier this
year, a South Korean motor company has reportedly launched a second
NFT collection – a membership program for NFT holders that
will provide access to exclusive “phygital (physical +
digital) experiences that merge the real and the digital
world.” According to reports, these experiences include access
to digital metaverses, digital content giveaways and special
physical consumptive items.
In similar news, a French cognac distillery has reportedly
partnered with R&B superstar Usher to launch a hybrid NFT
collection that uses artificial intelligence technology to
transform the artist’s lyrics into digital works of art.
Offered exclusively on BlockBar.com, each NFT will be priced at
$500 (fiat or ETH). According to reports, NFT holders will be given
the option to (i) keep the NFT; (ii) resell it; or (iii) redeem the
NFT for a limited-edition cognac bottle.
With more brands offering NFTs, researchers have been tracking
how and on what collections consumers spend their money. According
to a recent report, in the first half of 2022, users spent
approximately $2.7 billion minting NFTs, with a majority of the
activity occurring on OpenSea and more than 1 million unique wallet
addresses participating. This research suggests that the NFT market
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