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Patrick Mahomes, an NFL quarterback, is chosen to represent Dapper Labs’ new NFT platform

Patrick Mahomes, a quarterback for the National Football League, has a partnership with Dapper Labs that makes him the face of a brand-new NFL video-highlight NFT platform.

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After celebrity-based crypto sponsorships failed during the most recent market collapse, Mahomes became the first famous person to break the awkward quiet.

Heavy hitters like “The Martian” actor Matt Damon, comedian Larry David, basketball player LeBron James, and Tampa Bay Buccaneers quarterback Tom Brady luxuriated in the mystique of last year’s crypto bull run but were egregiously silent as the market started to decline earlier this year. Only $36,000 was spent on advertisements in July 2022, and certain notorious commercials, including Damon’s Crypto.com “Fortune Favors the Brave” loop, have disappeared from American screens.

Dapper Labs is hoping Mahomes can bring in a new era of star sponsorships.

NFL ALL DAY gets ready for the new campaign
With the use of in-product features and events, Dapper Labs, a portfolio company of the cryptocurrency venture capital firm CoinFund, seeks to captivate Kansas City Chiefs’ fans.

“NFL ALL DAY,” a new video-highlight platform modeled after Dapper Labs’ well-known NBA TopShots collection, excites Mahomes because it will allow fans to interact with their favorite players and teams.

Former NBA star Michael Jordan and current Brooklyn Nets player Kevin Durant, who is regarded by many as one of the greatest basketball players of all time, have backed Dapper Labs.

The NFL season, which will start on September 8, 2022, will feature one-of-a-kind, limited edition highlights with real films offered as “moments,” each with a different rarity tier. Each “moment” will have a specific serial number, information on the player and the game involved, as well as video footage of performances.

It will happen on Friday, August 18, 2022, with the first drop. “Moments” will also document the action of the upcoming season and will be sold in packs, each of which will include a diverse assortment of moments. On a peer-to-peer exchange, the NFTs will be traded.

A sports metaverse might be coming
The quarterback for the Tampa Bay Buccaneers, Tom Brady, introduced the “Autograph” NFT platform last year and raised $170 million in Series B funding.

NFTs, or non-fungible tokens, are a sort of blockchain-based digital certificate that signify ownership of a tangible or intangible object. In the sports industry, they have discovered a market for capturing significant moments in an athlete’s career. They are purchased with bitcoins on second-hand marketplaces like OpenSea and frequently resemble trading cards in the real world.

For some, NFTs for digital goods may play a significant role in the metaverse, a persistent, interconnected virtual environment that gets its name from Neal Stephenson’s novel Snow Crash.

The Etihad Stadium, the home field of English Premier League soccer team Manchester City, is now undergoing a three-year metaverse building project. The collaboration with Sony aims to give gamers a gaming experience no matter where they are and has the potential to bring in millions from the club’s fervent internet following.

The club will look at the idea of fans shopping for items that aren’t available in the real world and meeting players there.

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At a London event, an NFT vending machine will increase accessibility to digital art

The NFT vending machine at this year’s NFT.London event will give its profits to a good cause.

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The first-ever physical nonfungible token (NFT) vending machine will be on display at this year’s NFT.London conference, which is set for November 2-4.

The NFT platform aims to give anyone who wish to start buying and trading digital assets a simple and accessible way to do so without requiring them to have a thorough understanding of the Web3 sector. Users won’t need to have a digital wallet to buy an NFT from the vending machine.

Users must choose one of the shown envelopes before entering the code to acquire an NFT from the myNFT vending machine. After making their purchase, users can scan the QR code on the envelope to access an invitation to create a myNFT account, which includes an NFT wallet where they can store their NFT.

“The most convenient method to buy anything is through a vending machine, so we’re shattering the impression that buying an NFT is difficult with this campaign,” said Hugo Mcdonaugh, CEO of myNFT.

The first collection of contributed NFTs from myNFT, which includes names like Dr. Who Worlds Apart, Thunderbirds, and Delft Blue Night Watch, will be available for purchase by interested participants.

The actual NFT vending machine will be situated outside the Queen Elizabeth II Centre, Westminster, London, which is where the NFT.London conference will take place.

The revenue from the NFT vending machine will go to two charities: Roald Dahl’s Marvellous Children’s Charity, which provides specialized nurses to seriously ill children, and Giveth, a blockchain-based philanthropic community that supports public goods, services, and education in developing countries.

The Solana, California-based NFT marketplace Neon introduced a 24-hour NFT vending machine in the financial sector of New York City in February, according to Cointelegraph. This machine took credit and debit card payments. However, people complained that neither the NFT vending machine nor the NFT performed as promised after a week had passed after its introduction.

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Could this trademark application indicate that PayPal is developing an NFT market? 

A trademark application for blockchain and cryptocurrency technology has been submitted by PayPal. Some claim that the file has something to do with Web3 and the metaverse, although it may be tied to an NFT marketplace.

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A recent trademark application by PayPal has been found, and it suggests the development of a service pertaining to several facets of blockchain technology. The file, which was made on October 18, makes a notable allusion to the potential introduction of a non-fungible token (NFT) market.

For its logo, PayPal submitted two trademark applications. The first one concerns “downloadable software” for cryptocurrency trading and storage. The second discusses cryptocurrency-related payment processing services.

Although users may currently buy cryptocurrencies on PayPal’s platform, this filing suggests that there may be more to come. The concept of assets is substantially broader in the filing’s terminology. Mike Kondoudis, a trademark lawyer licensed by the USPTO, claimed on Twitter that this filing relates to NFTs and the metaverse.

Although there is no proof to support this, it would not be shocking if it were true. The finance business would be adding its name to a lengthy list of businesses that are starting to make inroads into the Web3 and metaverse spaces.

PayPal is investing more in cryptocurrency.
Over the past two years, PayPal has intensified its focus on cryptocurrencies. First, the company made a huge announcement for the industry by saying that consumers would be able to purchase cryptocurrency on its platform.

However, it didn’t start enabling users to move those funds into wallets outside of the network until recently. It indicated that it would roll out additional crypto-related features in the latter part of last year. One of those additions might be an NFT marketplace.

It teamed up with Coinbase’s TRUST network more recently. This was viewed by many as an endorsement of the sector. The TRUST network upholds consumer security and privacy while adhering to the banking industry’s Travel Rule.

Increased Criticism of Payment Giant
Additionally, PayPal has been in the spotlight for all the incorrect reasons. The business has recently come under fire for a contentious policy that penalized users for disseminating false information. Later, it claimed that false information was released with the amended policy. Crypto aficionados, however, were eager to point to this as evidence of the value of decentralization.

PayPal established a blockchain and cryptocurrency advisory committee earlier this year. According to the company’s management, working with governments is essential to overcoming obstacles and seizing possibilities.

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Seba Bank, a cryptocurrency company, aims to store valuable NFTs

Seba Bank, a cryptocurrency company, has launched its first NFT service, a blue-chip NFT-specific institutional-grade, certified, and independently audited hot and cold storage custody product.

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The launch comes in response to requests from customers to keep their NFTs with the bank alongside other crypto assets, such as the already-approved Bored Ape Yacht Club, Cryptopunk, and Clone X NFTs. The bank stated that new collections would be added based on customer demand.

With its newest offering, Seba Bank seeks to entice investors who view NFTs as an asset class and crypto natives. Not your keys, not your bitcoin is a well-known phrase in the crypto sphere, and adherents of this maxim could object to having their Apes or Punks stored with a third-party custodian.

Urs Bernegger, co-head of markets and investment solutions at Seba Bank, however, highlights a growing group of NFT holders who are more at ease handing up their NFTs and private keys to a company.

They don’t want the key because they aren’t even aware of how to handle and store it. He claimed that they’re more concerned with damaging the key than giving it to a bank.

It’s a significant issue. Between 2.3 million and 3.7 million bitcoins, according to Chainalysis, are trapped in inaccessible wallets. Numerous accounts of people have lost millions owing to losing private keys, including Russian officials, students, and engineers. Families have also been prevented from accessing substantial quantities of money following sudden deaths in which wallet owners had not disclosed their private keys.

Bernegger asserts institutional custody can be advantageous for native crypto users as well. There has been an increase in businesses providing services that employ NFTs as collateral for conventional banking services like loans.

Seba Bank is thinking about implementing these features in the future. Based in the crypto-friendly Swiss town of Zug, the four-year-old bank already backs several investing, credit, lending, and staking options for cryptocurrencies and might extend them to NFTs.

“Instead of traveling to the market, for instance, we could create a club for collectors and assist them in finding other collectors. There are a few things we have in mind, but we laid the groundwork by storing NFTs securely at first, “explained he.

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