NFT project y00ts will return the $3 million it received from Polygon Labs and transfer to Ethereum.
In this week’s newsletter, read about CBS Studios’ receiving approval for Star Trek NFT trademarks, check out how FC Barcelona acquired investment for its nonfungible token (NFT) initiative, and find out why NFT project y00ts is bridging to another network just months after its previous transfer. In other news, Canadian authorities are trying to create a repository for seized crypto and NFT assets, and don’t forget this week’s Nifty News, featuring Coca-Cola releasing an NFT collection on Coinbase layer 2, Base.
Star Trek trademarks for NFTs: The final frontier
The patent application filed by CBS Studios over the Star Trek name’s usage in crypto and NFTs has been approved by the United States Patent and Trademark Office. CBS applied for the patent back in April, which was finally approved on Aug. 8. The trademark included use for digital crypto collectibles and NFT-authenticated video clips.
With the new update, Star Trek Continuum will become a line of NFTs featuring various starships from the adventures held in the science fiction television series.
FC Barcelona secures $132 million investment for blockchain and NFT venture
Soccer team FC Barcelona has announced it has received a $132 million investment for its Web3 initiatives, including NFTs and the metaverse. According to the announcement, integrating digital content around Web3 and blockchain is part of the club’s Barça Vision initiative.
The soccer club obtained the capital by selling a 29.5% stake in Bridgeburg Invest, which is the holding company for Barça Vision. The investments came from Libero Football Finance and Nipa Capital.
NFT project y00ts to return $3 million grant as it ditches Polygon for Ethereum
DeLabs, the company behind the NFT project y00ts, has recently announced that it will migrate to Ethereum just months after transferring most of its NFTs to Polygon from Solana.
According to the announcement, the team will unite its NFT projects, y00ts and DeGods, with the move. The company will also return the $3 million grant from Polygon Labs that it received back in January to support its migration to Polygon.
Canada to develop repository for storing crypto and NFT seizures
An announcement made by the Royal Canadian Mounted Police (RCMP) highlighted that they are looking for a solution that will facilitate the storage of seized NFT and crypto assets. According to the RCMP, a centralized repository will help the authorities to seize these assets in a user-friendly manner. In addition, this will also provide security to prevent theft while they are in storage.
For NFT support, the Canadian police department requires a solution that supports the Ethereum, Solana and Polygon blockchains.
Nifty News: Coca-Cola gets Based, Reddit avatars reach 20 million milestone and more
Beverage brand Coca-Cola is diving into Web3 with the help of crypto exchange Coinbase. Through its layer-2 network Base, Coca-Cola is launching its first NFT collection consisting of works from various artists. Meanwhile, Reddit Collectible Avatars has hit the 20 million milestone and reached a cumulative sales volume exceeding $40 million.
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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.
