These are the big companies that are launching new NFT markets

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While the NFT craze isn’t as strong in 2022 as it was last year, that’s not stopping many big consumer companies from stepping in alongside the Bored Apes in the game. hope to discover a new revenue model.

Everyone from GameStop to the NFL has their own NFT Marketplace in the planning stages, including a few that have launched recently. And while the move from blurry pixel art to the new fascination of multi-billion dollar corporations is certainly a big step forward, the timing of this corporate embrace is a bit awkward.

The average sale price of an NFT is now around $3,000, according to market tracker. This is down from over $6,800 in January. Cumulative daily sales were down about 66% over the same period. The number of primary NFT sales has fallen, while secondary market sales are also down, from a January peak of 38,000 per day to just over 7,900.

You can blame everything from increased scrutiny by the Securities and Exchange Commission to the war in Ukraine for the drop, but it gives skeptics something to brag about.

Price drops and reviews aren’t slowing the US corporate rush to NFTs, corn. Here’s a look at some of the big names exploring a non-fungible world.

GameStop

After dropping vague mentions of its strategy for months, GameStop officials made their NFT packages a little clearer in an earnings call earlier this month, announcing the planned launch of its NFT marketplace “by the end of the second quarter of fiscal 2022”, i.e. before the 30 June.

The company is co-creating a fund of “up to $100 million” for game developers who use it. It positions itself as a place to buy and sell in-game assets, such as digital real estate, character skins, and weapons, which players can sell and trade outside of the game. associated with ImmutableX, the company behind the NFT trading card game raging godswhich will build the market on the Ethereum chain.

It’s a bet for the company, given the number of players who have went after the developers who have tried to integrate NFTs into their games.

NFL

Perhaps it’s the impeccable welcome. Maybe it’s, damn it, any of the last minute finishes playoffs on January 22 or 23 of this year. With NFL All Day, you will be able to collect exclusive digital video clips of these moments. The NFL works with Dapper Labs, the company behind the famous NBA Top Shot NFT market, to create NFTs around the most talked about moments in the game, both historically and week over week. (dap also created an NFT marketplace for the UFC earlier this year.)

“The irreplaceable nature of the NFT captures what’s special about sports fandom,” said Steve Scebelo, president of NFL Players Inc., the marketing and licensing arm of the NFLPA. in a report. “The unique greatness of NFL players will continue to fuel memorable moments both in history and in real time throughout the season, which will only deepen the bonds they have with their passionate fans. .”

If he runs something like NBA Top Shot, it could be quite lucrative. At the end of February, fans had spent $230 million on these NFT collectibles.

WWE

While WWE has dabbled in NFTs before, with the launch of the Undertaker Collection last year, WWE Chief Brand Officer Stephanie McMahon announced at this year’s SXSW the company would launch WWE Moonsault, an NFT market, just before WrestleMania 38 in April. The focus, as is the case with many other WWE businesses, is to create collectibles that fans can buy, sell and trade. The company is work with Blockchain Creative Labsthe blockchain division of Fox Entertainment, to create the market.

Associated press

AP photographers have captured some of history’s most iconic moments. On January 31, the news agency launched its own marketplaceon blockchain technology built by Xooa. NFTs, however, offer more than images. They also include data that incorporates the time, date, location, equipment and technical parameters used for the shooting. Since AP is a non-profit news organization, money raised from the sale of NFTs will be reinvested into funding its journalism. Prices currently range from $250 to $4,200.

Coinbase

It shouldn’t come as much of a surprise that the leading cryptocurrency exchange has designs on its own NFT marketplace. The big question is: when will it be launched? So far, the company will just say “soonwhich frustrated some users.

Coinbase has a lot of faith in the NFT market, however, with co-founder Brian Armstrong said during an earnings call last November he thinks it could be “as big or bigger” than cryptocurrencies. The company recently met with over 100 creators and said it’s building the product based on community feedback. It also hopes to improve interactions between artists and users.

“We would like our Coinbase NFT to look a little more like Instagram rather than an auction like eBay,” Armstrong said. “People you can follow, [such as] your favorite artists or creators, and having a feed of content powered by the people you follow, that could be really powerful.

USFL

The fledgling football league, co-owned by Dwayne Johnson, will mint and sell digital tokens of its players, teams and coaches to boost fan engagement. (Like WWE, it works with Fox’s Blockchain Creative Labs). Details have not been announced, but these players and coaches will receive “the majority of the turnover of these NFTs“, promises the league. In addition to the investment value of the NFTs, fans who purchase them will also be able to use them to access locked team Discord channels and get free merchandise.

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