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Weekly Highlights June - 06/06/22

New month, new developments in the market. So many superstars are filing for trademarks for their iconic moments to turn them into digital collectables. Kanye West is one such celebrity...
Weekly Highlights June - 06/06/22

Weekly Highlights June - 06/06/22

New month, new developments in the NFT market. So many superstars are filing for trademarks for their iconic moments to turn them into NFTs. Kanye West is one such celebrity, going by the 17 new trademark applications filed by his team. The iconic rapper seems to soften his anti-NFT view and is also getting ready to mint his digital collectibles. Here are some exciting highlights from the first week of June.

Nissi Ogulu Collaborates With Binance to Launch NFT for the Good Collection ‘Jigsaw Tribe’

Nissi Ogulu is sister to the famous Grammy award-winning African artist Burna Boy. The talented visual artist collaborated with Binance Charity’s NFT for Good initiative to pay homage to her Nigerian heritage by merging culture with technology.

Nissi’s Jigsaw Tribe NFT will debut exclusively on the Binance NFT marketplace. 

The premium auction will last from May 30 to June 20, 2022, and some of the funds generated will cover more than 6000 meals a month for underprivileged people in Rivers State, Nigeria.

Is the Day of Reckoning Here: Former Opensea Employee Charged to Court in First-Ever NFT Insider Trading Case

In what could be the first case ever on the NFT insider trading case, an ex-employee of OpenSea could create an unwanted record for himself. The former product manager that goes by the name of Nathaniel Chastain will be facing New York’s Southern District prosecutors. The prosecutors are charging him with one count of money laundering and one count of wire fraud in relation to the insider trading case.

The department of justice announced that both counts could result in a maximum sentence of 40 years in prison. According to the DOJ, this is the first case ever of insider trading connected to digital assets.

Better Late Than Never: Wax Blockchain Secures $10 Million Funding to Push Into NFT and GameFi Market

WAX, which stands for Worldwide Asset eXchange, has just secured funding from the OKX investment arm, OKX Blockdream Ventures. The money in the tune of 10 Million Dollars will help the WAX studios create NFTs for P2E games, upgrade the WAX Cloud Wallet, and create an exchange for gaming tokens. The upgraded WAX Cloud Wallet will now be able to support storing and sending gaming NFTs.

WAX boasts of having around 12 million users and a carbon-neutral blockchain. Its blockchain is said to be used by renowned brands like Mattel, Sony, NASCAR, and Hasbro to mint their NFT collections. The funding from OKX Blockdream Ventures will allow WAX studio to integrate all these NFTs into WAX-based NFT video games, paving the way for more creativity for P2E games creators.

Interestingly, NFTs built on WAX can be sold on the WAX NFT marketplace and secondary markets like OKX NFT and OpenSea.

Conclusion

The new month of June could see history created - an unwanted one, though, for the individual involved in the first NFT insider trading case. More firsts are to come too, as Warner Bros. deliberates on launching an NFT-infused Looney Tunes story.

We could be in for an exciting month, so stay tuned for more NFT Highlights next week. 

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