In this week’s newsletter, check out Disney’s plans to launch a non-fungible 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 Roblox CEO “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 several characters from the Disney, Pixar and Star Wars franchise as digital collectibles.
Fans will be able to trade and collect digital pins once the nft platform is fully launched on the Apple App Store, Google Play Store, and for web browsers in late 2023.
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nft Sales Volume Uptrend Will Continue, Industry Executives Say
Following a recent steady upward trend in nft sales volume, Cointelegraph reached out to several professionals working in the industry to get their take on the recent surge in sales. Jonathan Perkins, co-founder of nft marketplace SuperRare, said the trend will likely continue over the next six months. The executive believes that the bear market is over and that things are finally looking up.
Meanwhile, nft platform Enjin CFO Oscar Franklin Tan made similar comments, arguing that NFTs have already established themselves as a unique class of digital assets separate from cryptocurrencies.
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China declares theft of digital collections like NFTs punishable by sentence for criminal theft
In a statement released on November 10, the Chinese government stated that those who steal digital collectibles such as NFTs could face sentences for theft. According to the announcement, the theft of a digital collection invades the system, which means that it also commits the crime of illegally obtaining computer data and theft.
While China has banned many cryptocurrency-related activities, several parties have expressed interest in diving into the nft space.
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Roblox CEO “dreams” of cross-platform NFTs and in-game digital items
Roblox CEO David Baszucki recently expressed his dream of being able to move NFTs and items across multiple platforms. The executive highlighted that he believes in this idea that users can move their collections to various non-native platforms.
The Roblox executive also highlighted that several celebrities could sign up for Roblox and create and sell collectibles for charity if this dream became a reality. According to the CEO of Roblox, these collectibles could also be sold on other markets.
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Yuga Labs confirms that UV lights are likely to cause eye problems at ApeFest
Following complaints from attendees at the recent ApeFest event held in Hong Kong, nft company Yuga Labs said that UV-A emitting lights installed at 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.
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SEE COINTELEGRAPH nft STYLE PODCAST
Thanks for reading this roundup of the week’s most notable developments in the nft space. Check back next Wednesday for more reports and information on this ever-evolving space.