HomeCrypto NewsNFTMajor Brands Making Major Inroads into NFT Market

Major Brands Making Major Inroads into NFT Market

The latest news on everything NFT

While some believe it was just a fad, NFTs have been making headwinds in the digital space since their introduction, and are about to make a few more. Key headlines include Mastercard allowing a certain pilot project, where holders will be able to purchase NFTs and NFT collections directly using their credit card. Giant toymaker Mattel has decided to sign a large contract and is in talks to partner with a proprietary NFT and crypto marketplace. 

Holding your NFTs is about to pay out much more than you thought, as you will now be able to license out your collection for certain property rights. Read on to also learn about the current state of the market for your NFT investments, and how the bear market can make or break the future of your digital portfolio.

Digital Play: Cryptoys Takes Mattel Toys to the Metaverse

With the metaverse making a big swing in the current trajectory towards the Web 3.0 landscape, leading toy brand Mattel has reportedly signed a multi-year partnership with NFT marketplace Cryptoys. Mattel will be using Barbie and Hot Wheels as their flagship products and will feature the best of these brands as being playable within the space that you purchase in the esoteric metaverse. Mattel plans to bring forward more projects within this space and sees it as the future of recreation and a huge market to expand into.

This comes as no surprise, as Mattel recently secured a partnership last year with the Wax blockchain to feature Hot Wheels as a collectible NFT project. The migration to Cryptoys will take place with Flow’s blockchain.

Mastercard Pilot: Cardholders to Skip the Middleman In NFT Collection

The early years of cryptocurrency brought forward new solutions and new problems. With gas fees being what they are, transforming your hard-earned fiat money first into crypto, and then into an NFT transaction can deter you from making a sound financial decision within your portfolio. Mastercard will lead the charge by letting 2.9 billion of its selected cardholders purchase NFTs from approved marketplaces directly without paying exchange fees on the coin of choice.

To achieve this, Mastercard has invested significant funds into their partnerships to approve well-known marketplaces: NFT Gateway, Mintable, The Sandbox, and Candy Digital – amongst a few other notable names.

Kraft Foods: Eating Well Inside the Metaverse?

Mac and cheese giant Kraft foods have made a bid to play in the metaverse. This marks a bold stage in their advancement, as recent patents have been filed for popular names under their large corporate structure, including Jell-O and Kool-Aid. While other food brands shy away from keeping their “consumer staple” rating – Kraft makes a bold move to license their intellectual property, creating an entirely new precedent for a surprising income vertical.

NFT Holders: Instead of Flipping – Try Renting!

This isn’t the first time NFTs are being compared to real estate. While the majority of transactions between NFT arbitrage are done by flipping well-known brands, Apocalyptic Apes founder William Starkov says you could employ a “buy and hold” strategy in the future. Instead of dividends, holders of BATC will be able to license their lovely NFT primates (and other collections) for commercial use in sponsorships, ads, and games.

Bear Market: Are NFTs Really Decentralized?

You’ve heard it everywhere – the confirmation that a bear market really is here. While this may have had a huge effect on traditional financial markets, overall crypto prices have also taken a nosedive. This has affected the floors for popular projects such as CryptoPunks, which have fallen almost 40% in quoted ETH price from their all-time-high. NFTs seem to still draw a parallel to the more centralized exchanges in the world.

Source: https://cointelegraph.com/news/nifty-newsletter-mastercard-to-enable-direct-nft-purchase-nft-floor-prices-collapse-and-more

The Crypto News Talk Editorial Team delivers the latest news and updates from throughout the world of crypto. Crypto News Talk experts scour the cryptosphere 24/7 for the latest developments on Bitcoin, Ethereum, coins, exchanges, ICOs, NFTs, DeFi, and more, ensuring you get the relevant, groundbreaking crypto news and content you need when you need it most.

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