NFTs in a Nutshell: Weekly Review

There are more NFT debates this week, with Apple policy at the forefront. Meanwhile, for one region, numbers show that NFTs are leading the charge for crypto volumes, and one Solana-based NFT project has signed a title licensing agreement.

These are some of the most important stories on the NFT landscape in the past week – let’s briefly review those and more.

This week’s fake news

Apple insists in-app NFT sales are subject to platform commission payments, critics voice outrage

Young, crypto-first platforms looking to use NFTs are unhappy with Apple this past week. The global technology company said platforms that want to sell NFTs will have to force through Apple’s mill commission structure. But companies have argued that it’s simply not sustainable – as we’ve explained in our report, depending on the geographic location, these commissions can exceed 30% and include other costs.

The CEO of Epic Games has criticized Apple’s stance on NFT platforms, describing it as a “grossly overpriced in-app payment service.”

Asian crypto adoption fueled by NFTs, report says

Crypto adoption growth across Central and South Asia and Asia (CSAO) has been fueled by NFTs, according to a new Chinaanalysis report. Our team delved deeper into the report and found that while other regions around the world have adopted through major blockchains like Bitcoin and Ethereum, CSAO has seen adoption led by NFTs.

Over the year starting last June and ending in June 2022, this region accounted for nearly a trillion dollars in total volume in crypto, and 60% was NFT trading.

Solana's (SOL) Okay Bears have proven to be the top dog across the blockchain, at least for the time being. That's exhibited most recently by a new licensing deal with IMG that could see bears on consumer products in the future. | Source: SOL-USD on

Solana OK Bears sign with IMG

Solana-based OK Bears turned heads this year and emerged as a top project and top-tier group on blockchain — blockchain aside. If you need proof, look no further than the recent headlines surrounding the set, OK Bears signing a licensing deal with IMG. The 10,000 Mint project sees IMG as the global licensing agent for consumer products and experiences. IMG has worked with some of the biggest names in IP and is part of the Endeavor conglomerate, which has a significant presence in entertainment across all media.

Goblins continues live in the beta ‘Truth Labs Marketplace’

What a long winding road it’s been for the collection this year. The project had an unprecedented boost just five months ago. However, the project has slowed down and has a floor price of less than 1ETH today – after seeing a high daily average price north of 7ETH in early June.

That hasn’t slowed Goblins down too much, however, as this past week, Goblintown creators Truth Lab launched their ‘Truth Lab Marketplace’. The marketplace serves as a dedicated platform for Truth Labs collections and charges only a flat 5% fee for transactions (compared to OpenSea’s 2.5% + variable creator royalty).

Universal Studios has launched a Halloween NFT scavenger hunt

Next month, audiences at Universal Studios in California and Florida will have a chance to bring NFT home. Through October 31st, the parks Halloween-themed scavenger hunt will be available to mint up to 7 million NFTs. A total of seven QR codes link visitors to unique NFTs. The offer comes through Universal’s partnership with MoonPay. The two got hitched in June and are clearly making quick work of their new relationship.

NFTs offer additional benefits (at least to those who collect all seven QR codes), but the benefits don’t seem clear yet. However, the issue of fan and user engagement studies for brands and properties is another stage in the development. NFTs are described as a ‘proof of attendance protocol’ that can replace traditional means of measuring attendance at events and engagements.

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NFTs in short
The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice. This op-ed represents the views of the author, and may not necessarily reflect the views of Bitcoinist. Bitcoinist is an advocate of creative and financial freedom alike.

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