NFT Weekly News: 7-Eleven launches free Slurpee NFTs on Polygon, targeting younger consumers interested in Web3. Starbucks Odyssey partners with Aku NFT Collection, offering a new digital collectible Stamp and donating to charity. DeFi borrower uses luxury watch-backed NFT as collateral for a loan facilitated by the 4K Protocol. Ethereum's price rises, but NFT transactions decrease, potentially due to competition from other blockchains. Wimbledon and Andy Murray enter the NFT world with Refik Anadol's artwork, creating an official Wimbledon NFT that showcases Murray's career. Delve into the article to learn more about the latest NFT News.
Convenience store giant 7-Eleven is entering the Web3 space with the launch of free Slurpee NFTs on the Polygon network. The "Find Your Slurpee Vibe" collectible game allows users to create their own virtual Slurpee by choosing from four flavors: Cherry, Blue Raspberry, Pina Colada, and Summertime Citrus.
To claim a Slurpee NFT, users must download the 7-Eleven app and create an account. Once they have created an account, they can access the "Find Your Slurpee Vibe" game and start creating their own Slurpee.
After choosing their flavors, users can fill the cup to the top and claim their "Slurpee Vibe Digital Collectible." Polygon blockchain stores the NFT, and it can be used to show off your Slurpee fandom.
The launch of the Slurpee NFTs is part of 7-Eleven's efforts to engage with younger consumers. The brand experimented NFTs for the past year. Slurpee NFTs are the way to reach a younger audience interested in Web3.
The launch of the Slurpee NFTs is also a sign of the growing adoption of NFTs by mainstream brands. In recent months, a number of brands have launched NFTs, including Taco Bell, Burger King, and Slim Jim. As NFTs become more mainstream, it is likely that we will see more brands adopt this technology.
Starbucks Odyssey, the Web3 loyalty program from Starbucks, has announced a new collaboration with the Aku NFT collection. The collaboration will feature a new digital collectible Stamp called "Aku Adventure" that will be available to Odyssey members starting on July 17, 2023.
The Aku collection was created by former Major League Baseball player Micah Johnson and features a series of NFTs that center around empowering young kids to dream big. The collection has been purchased by celebrities including Trevor Noah, Pusha T, and Tyra Banks.
The "Aku Adventure" Journey will allow Odyssey members to "embark on a mission with Aku" and will be available until August 13, 2023. In addition to the new Stamp, Starbucks will also donate $100,000 to Blessings in a Backpack, a non-profit tackling food insecurity among children.
This is the latest in a series of moves by Starbucks to enter the Web3 space. In March, the company released a collection of 2,000 limited-edition NFTs called "The Siren Collection." The drop was met with such high demand that some eager collectors complained of slow wait times and technical glitches. In April, Starbucks launched a 5,000-edition collection called "The Starbucks First Store Collection," which had a smoother roll-out.
The collaboration with Aku is a sign of Starbucks' continued commitment to the Web3 space. The company is clearly targeting a younger audience with these initiatives, and it will be interesting to see how they are received by consumers.
The NFT artwork, called "The Exposition", is a world-first combination of digital art, sports, and data science. It transforms Murray's 18-year career at Wimbledon into a unique artwork using data provided by IBM during the championships.
Scientists and developers collaborated to create a specific algorithm that transforms millions of inputs from statistics, movement, audio, and visual data into an artwork. The result is a visually stunning and thought-provoking piece of art that captures the essence of Murray's career at Wimbledon.
The collaboration between Murray, Wimbledon, and Anadol is a significant step in the adoption of NFTs by mainstream sports organizations. It shows that NFTs can be used to create innovative and engaging ways for fans to connect with their favorite athletes and teams.
It is also a sign of the growing interest in NFTs from the art world. Anadol is a well-respected digital artist, and he exhibits in major museums around the world. His involvement in this project further legitimizes NFTs as a legitimate form of art.
The collaboration between Murray, Wimbledon, and Anadol is just the beginning. The team suggested further collaborations in the near future. This could include creating additional NFT artworks, developing new ways for fans to interact with the NFTs, or even using NFTs to help raise money for charity.
The possibilities are endless, and it will be exciting to see how this collaboration evolves in the years to come.
A decentralized finance (DeFi) borrower recently used a luxury watch-backed NFT as collateral for a loan. The loan was facilitated by the 4K Protocol, an escrow firm that deals with NFTs backed by physical items.
The borrower sent a Patek Philippe luxury watch to 4K Protocol, which then issued an NFT representing ownership of the watch. The NFT was then listed on the DeFi lending protocol Arcade, where lenders could offer to provide a loan against the watch. The borrower accepted the best loan offer they could find, and the NFT was sent to an escrow wallet.
If the borrower defaults on the loan, the NFT will be awarded to the lender, who can then burn it to claim the watch. This process allows lenders and borrowers to lend and borrow with complete anonymity, and it also gives borrowers access to more global liquidity.
While some have welcomed this new way of lending and borrowing, others have criticized it as being centralized and unnecessary. They argue that there is no need to use an NFT to represent ownership of a physical asset and that this process simply adds an unnecessary layer of complexity.
Only time will tell whether this new method of lending and borrowing will become mainstream. However, it is clear that the DeFi space is constantly evolving and that new and innovative ways to use NFTs are being developed all the time.
Ethereum has been on a tear in recent months, with its price increasing by over 55% since the beginning of the year. However, this price growth has not been matched by an increase in network activity. In fact, transactions related to NFTs are decreasing, and gas fees remain low.
There are a few possible explanations for this. First, many investors and traders have chosen to stake their ETH, which means that they are locking it up in order to earn rewards. This reduces the amount of ETH that is available to be used for transactions.
Second, the NFT market has been experiencing a slowdown in recent months. This is likely due to a number of factors, including the overall decline in the cryptocurrency market and the rising cost of minting and trading NFTs.
As a result of these factors, the Ethereum blockchain is seeing less activity overall. This is reflected in the number of transactions, which has been declining steadily in recent months. Gas fees have also remained low, as there is less demand for network resources.
It is unclear whether this slowdown in activity is temporary or permanent. However, it is worth noting that Ethereum is facing increasing competition from other blockchains, such as Solana and Avalanche. These blockchains offer faster speeds and lower fees, which could make them more attractive to users.