Mastercard to enable direct NFT purchases, NFT floor prices collapses and more

Mastercard to enable direct NFT purchases, NFT floor prices collapses and more
Mastercard to enable direct NFT purchases, NFT floor prices collapses and more

This week’s newsletter highlights that Mattel is signing a multi-year partnership with an NFT marketplace, Mastercard plans to let cardholders buy NFTs directly with their cards, and NFT holders can earn millions of dollars through intellectual property rights for their NFTs.

Investors in NFTs can also learn more about the fall in floor prices for prominent collections such as Bored Ape Yacht Club (BAYC) and CryptoPunks, while this week’s Nifty News summary includes Kraft Foods patent application and Seth Green reuniting with its BAYC NFT.

Barbie verse: Mattel enters into a multi-year agreement with Cryptoys NFT marketplace

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

In the summer of 2022, the studio will launch Cryptoys NFT marketplace at the top of the Flows blockchain. In the past, Mattel has also dipped its toes in the NFT area by securing a partnership with the Wax blockchain in 2021 to release a Hot Wheels NFT collection.

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Mastercard to allow 2.9B cardholders to make direct NFT purchases

To buy NFTs, fiat holders must first convert their money into crypto. The finance company Mastercard aims to change this by letting its 2.9 billion cardholders buy NFTs directly without having to buy crypto first.

The financial giant partnered with various leading NFT marketplaces such as Immutable X, Candy Digital, The Sandbox, Mintable, Spring and NFT Gateway to integrate a payment method that allows users to purchase NFTs directly. Apart from the marketplaces, Mastercard has also formed a partnership with MoonPay, a provider of crypto on-and-off services.

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NFT holders can earn millions through IP rights, says Apocalyptic Apes founder

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

Starkov explained that BAYC holders are able to make a profit by “licensing their monkeys for commercial use.” Similarly, the Apocalyptic Apes leader noted that other collections can do the same. Before this, Starkov said that people must first wait and wait for the project behind their NFTs to mature.

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Related: NFT trading volume rises in the middle of the market and floor price crash

The floor price of popular NFT collections is collapsing due to the bear market

In the midst of the current bear market, the floor prices of prominent NFT collections BAYC and CryptoPunks have taken a dive. BAYC has gone from its highest floor price of 153.7 Ether (ETH) to 74 ETH. On the other hand, CryptoPunks also fell from the ATH floor price of 123 ETH to 48 ETH, as seen on the tracking page NFT Price Floor.

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The fall in NFT prices came in the midst of big sales in the broader crypto market. Prior to the price drop, Yuga Labs co-founder Gordon Goner also warned of an incoming attack on the company’s social media accounts.

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

Producing large Kraft Foods Group has recently filed NFT and metaverse patents. The company submitted trademark applications for Kraft, Jell-O, Kool-Aid and other brands under its umbrella. Meanwhile, actor Seth Green received his BAYC NFT which had been stolen and sold to another person. The actor paid 165 ETH to buy back NFT.

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Thank you for reading this summary of this week’s most notable developments in the NFT area. Come back next Wednesday for more reports and insights into this area in active development.