Yesterday Taco Bell was the latest to issue a non-fungible token (NFT) for four digital art collectibles, although they might struggle to meet the art threshold. The NFT hype levels are reminiscent of the 2017 ICO blockchain boom. However, while prices may be inflated, the use cases for NFTs are quite real.
We previously reported on the NBA Top Shot game, which has now surpassed $300 million in sales and re-sales. The first-ever Tweet by Twitter founder Jack Dorsey is being auctioned off with the current highest bid at $2.5 million on the ‘Valuables by Cent’ platform.
Clearly, Dorsey sees the value of NFTs and it’s no coincidence that the tweet is being auctioned the same week his other company Square announced the acquisition of Jay-Z’s music streaming service Tidal. Not only can the music be tokenized, but they could potentially tokenize tickets to streamed live events during the pandemic.
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