PayPal removes protections for NFT buyers and sellers
PayPal is quietly removing safeguards for NFT (non-fungible token) transactions on its platform.
Starting May 20, PayPal’s updated policies will no longer offer buyer and seller protections for Non-Fungible Token (NFT) purchases. According to the company’s policies page, NFTs are now ineligible for coverage under PayPal’s Purchase Protection Program.
In addition, the business mentioned that it will modify its Seller Protection Program to no longer cover NFT sales valued at over $10,000.01.
Starting January 2023, PayPal’s protection for NFT transactions valued above $10,000 against deceitful claims, chargebacks, and fraudulent activities will no longer be in effect. In simpler terms, PayPal will no longer shield you from potential financial losses exceeding $10,000 when buying or selling Non-Fungible Tokens through their platform after this date.
Adidas and Stepn release NFT sneakers
Stepn’s move-to-earn game has revealed a collaboration with renowned footwear brand Adidas. Together, they plan to launch exclusive co-branded sneaker NFTs on the Solana blockchain.
Stepn expressed in the announcement that the partnership is intended to be ongoing, providing their community with a comprehensive experience through various engagements.
Based on Stepn’s announcement, the partnership intends to provide digital resources that encourage healthier and more active habits.
The price of the sneakers is roughly equivalent to 10,000 GMT tokens, which translates to around $2,500 based on data from CoinGecko, a popular coin information website.
Louis Vuitton drops $8,400 phygital varsity jacket
Louis Vuitton, a renowned fashion label, unveiled a new varsity jacket priced at approximately $8,400. This unique purchase comes with both the physical jacket and an accompanying NFT (Non-Fungible Token) in the digital realm.
Pharrell Williams, an American record producer and singer-songwriter, has designed this jacket as part of the brand’s continuing Via NFT initiative in the fashion industry.
The jacket is crafted with soft, authentic buckskin suede and features a prominently displayed brand emblem that has been intricately embroidered. Customers can securely buy this jacket through a special access website, and they are expected to receive the actual product between November and December.
A jacket is the latest addition, priced around $9,000, among the exclusive items launched by the fashion brand for its Via NFT owners. Previously, they had released a high-value bag and a digital mini trunk, which cost approximately $6,400 each, only available for token holders.
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2024-04-23 12:57