Companies get in on the NFT craze as 100, 000 ETH is burned
The NFT crazy sweeping the crypto sector is picking up momentum with the entry of major companies now focusing on not only purchasing NFTs but also creating their own NFTs.
The NFT market place saw a significant drop in June leading many to believe that the NFT was a 2017 crypto bubble waiting to pop. However, with the entry of major companies and artists entering the sector the NFT craze has once again picked up momentum.
Arizons Iced Tea recently tweeted that it had "Apes" into the board Apes NFT. They also plan on using the NFT in marketing material which has been reported could potentially breach copyright laws Source
Budwiser
Budwiser has also jumped on board with the NFT craze and has their own account on Opensea. The Beer company also currently holds a dick pic NFT. Although where the company most likely hasn't purchased these NFT users are most likely sending them to their wallet in an attempt to gain fame.
Budwiser also recently registered the domain name beer.eth which indicates that company is about to produce their own line of collectable NFT series associated with their beer brand Source.
I also previously reported on how Visa purchased a crypto punk NFT for $US150,000 and has now increased in value to $US160,000 not a bad return on investment for a recent purchase.
## 100,000 Ethereum burned
Source
All the action over at the NFT market place has lead to the burning of 100,000 Ethereum equating to $US300 million worth of Ethereum through the new Proof Of Stake upgrade London Hard Fork.
The daily transactions on Ethereum continue to be around 1.2 million a day. This is about $US8.7 million dollars a day over $US200 Billion a month in transfers indicating that the network is still the sectors most used block chain.
With no end in sight and Ethereum continuing to lead in block chain technology it won't be long until Ethereum flips bitcoin.
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Great signal reporting/coverage. Please keep it coming
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Where do you find the data of burned Ethers? I agree that Ether will take bitcoins place in market capitalization. Some say that it will occur by the end of this year.
I just can't see how these NFTs will retain value if the there is ever a NFT market crash. I prefer things with utility.
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