In this week’s newsletter, check out Disney’s plans to release a nonfungible token (NFT) platform by the end of 2023 and find out why NFT sales volumes will likely continue their upward trend in the coming months. Read about China’s stance on NFT theft and why the CEO of Roblox “dreams” of interoperability. In other news, find out what caused eye-related complaints at the recent ApeFest event in Hong Kong.
Disney launches NFT platform with Dapper Labs
Disney has partnered with NFT company Dapper Labs to launch a digital collectible platform called Disney Pinnacle. Using the platform, Disney will tokenize various characters from the Disney franchise, Pixar and Star Wars as digital collectibles.
Fans can trade and collect digital pins once the NFT platform is fully released on the Apple App Store, Google Play Store and for web browsers by the end of 2023.
NFT sales volume upward trend to continue, industry execs say
Following a recent consistent upward trend in NFT sales volume, Cointelegraph reached out to various professionals working in the industry to get their thoughts on the recent rise in sales. Jonathan Perkins, the co-founder of NFT marketplace SuperRare, said the trend will likely continue for the next six months. The executive believes the bear market is over, and things are finally turning around.
Meanwhile, NFT platform Enjin’s chief financial officer, Oscar Franklin Tan, made similar comments and argued that NFTs have already been established as a unique class of digital assets separate from crypto.
China declares stealing digital collections like NFTs liable for criminal theft sentence
In a statement published on Nov. 10, the Chinese government declared that those who steal digital collectibles like NFTs would be liable to face theft sentences. According to the announcement, stealing a digital collection intrudes upon the system, which means it also carries out the crime of illegally obtaining computer data and theft.
While China has banned many crypto-related activities, various parties have expressed interest in diving into the NFT space.
Roblox CEO “dreams” of in-game cross-platform NFTs and digital objects
Roblox CEO David Baszucki has recently expressed his dream of being able to move NFTs and objects across multiple platforms. The executive highlighted that he believes in this idea of users being able to move their collections to various non-native platforms.
The Roblox executive also highlighted that various celebrities could sign up on Roblox and create and sell collectibles for charity if this dream was made into reality. According to the Roblox CEO, these collectibles could also potentially be sold in other marketplaces.
Yuga Labs confirms UV lights likely cause of eye issues at ApeFest
Following complaints from attendees of the recent ApeFest event held in Hong Kong, NFT company Yuga Labs said that UV-A emitting lights set up in the event were “likely the cause of the reported issues.”
According to the official account of Yuga Labs’ Bored Ape Yacht Club collection, it determined the cause after a joint investigation with the agency that produced ApeFest.
Thanks for reading this digest of the week’s most notable developments in the NFT space. Come again next Wednesday for more reports and insights into this actively evolving space.