Nifty newsletter: Mastercard to make direct NFT purchases, NFT floor prices collapse and more

Nifty newsletter: Mastercard to make direct NFT purchases, NFT floor prices collapse and more – Mail Bonus

This week’s newsletter emphasizes that Mattel has signed a multi-year partnership with NFT Marketplace, Mastercard intends to allow cardholders to buy NFT directly with their cards and NFT owners can earn millions of dollars with intellectual property rights for their NFT.

Investors in NFTs can also learn more about lowering floor rates for prominent museums such as the Bored Ape Yacht Club (BAYC) and CryptoPunks, but this week’s Nifty News summary shows Kraft Food’s patent list and Seth Green merging with his BAYC NFT.

Barbie verse: Mattel signs a multi-year contract with the Cryptoys NFT market

Mattel, a prominent toy brand, has partnered with Cryptoys’ NFT marketplace to showcase brands such as Barbie and Hot Wheels as playable NFTs within metaverse. Richard Dickson, president of the toy company, believes that there are opportunities for the brand within the metaverse space. The toys will be shown on Cryptoys metaverse created by OnChain Studios as well as in other games developed by the company.

In the summer of 2022, the studio will open the Cryptoys NFT marketplace on top of blockchain Flow. In the past, Mattel has also dipped its toes into the NFT space by securing a partnership with the Wax blockchain in 2021 to release the Hot Wheels NFT collection.

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Mastercard to allow 2.9B cardholders to make direct NFT purchases

To buy NFT, fiat owners first need to convert their money into cryptocurrency. The financial services company Mastercard aims to change this by having its 2.9 billion cardholders buy NFT directly without having to buy cryptocurrencies first.

The financier has partnered with various leading NFT marketplaces such as Immutable X, Candy Digital, The Sandbox, Mintable, Spring and NFT Gateway to integrate payment methods that allow users to purchase NFT directly. Apart from the marketplaces, Mastercard has also formed a partnership with MoonPay, which provides cryptocurrency and off-road services.

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NFT owners can earn millions with IP rights, says the founder of Apocalyptic Apes

Cointelegraph interviewed Bill Starkov, founder of Apocalyptic Apes and a member of BAYC. According to Starkov, a way to generate revenue is by using NFTs outside of browsing, rather by licensing NFTs intellectual property rights.

Starkov explained that BAYC owners can make a profit by “licensing their monkeys for commercial use. Similarly, the director of Apocalyptic Apes pointed out that other museums could do the same. Prior to that, Starkov said people would first have to wait and see for the project behind their NFTs to mature.

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Connected: NFT’s business volume increases following market collapse and floor prices

Floor prices in popular NFT museums are falling due to the bear market

Within the current bear market, the floor prices of the prominent NFT collections of BAYC and CryptoPunks have plunged. BAYC has gone from its historic highest floor price, 153.7 Ether (ETH) to 74 ETH. On the other hand, CryptoPunks also dropped from its ATH floor rate to 123 ETH to 48 ETH, as shown on the NFT Price Floor tracking site.

The decline in NFT prices came amid strong sales in the broader cryptocurrency market. Before the price drop, Gordon Goner, founder of Yuga Labs, also warned of an attack on the company’s social media accounts.

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Nifty News: Kraft Foods signs for NFT and metaverse patents, Seth Green gets his monkey back and more

The production company Kraft Foods Group has recently submitted an NFT and metaverse patent. The company submitted trademark applications for Kraft, Jell-O, Kool-Aid and other trademarks under the umbrella. Meanwhile, actor Seth Green received a BAYC NFT that had been stolen and sold to others. The player paid 165 ETH to buy NFT back.

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Thanks for reading this summary of the most notable developments of the week in the NFT space. Come back next Wednesday for more reports and insights into this evolving space.