🏆 Chicago Bulls Championship NFTs, Damian Hirst releases first NFT, and much more

Inside the high speed world of Crypto Collectibles

⚡Welcome to the first issue of the Non Fungible Times, the internet’s primary news source for developments and opportunities in the rapidly developing world of NFTs.⚡

Without further ado let’s jump into it!

đź›’ Shopify Enables Merchants to Sell NFTs directly through their storefronts

The Story: Shopify is one of the world’s biggest enablers of online shopping so the fact that they’re adding block chain support is huge news. They added the feature by popular request, since many merchants were asking for the option to sell NFTs. Of course there’s always open source marketplaces like OpenSea but this just provides another avenue for merchants to design a more branded selling experience. Read More

To kick off the new feature, they’ve partnered with The Chicago Bulls, one of the NBA teams with a very rich history, to sell NFTs representing their championships. They have been doing a series of drops, with the next one dropping tomorrow Saturday July 31st. The drops have been priced at $95 - $99 depending on the championship year, and every drop has sold out within minutes.

Shopify will support Flow and Ethereum blockchains, but plan on releasing more support soon.

The Opportunity: Help artists and existing brands to launch their own NFT branded experiences, or use Shopify as a way to sell your own NFT collection.

đź’°Digital Sports Card Company Dibbs Raises $13 million in Series A Funding

The Story: The collectibles industry is huge and one of the biggest areas of disruption for NFTs - Dibbs is “claiming dibs” on its spot in this up and coming space with over $15m raised so far in funding. How does it work? It uses a concept called “fractionalized ownership” to bring a new spin on owning sports card collectibles.

Sports cards have in the past sold for gigantic amounts at auction. Just in 2021, a Kobe Bryant card already sold for $1.7 million, and a Babe Ruth card sold at auction for over $4 million. That’s the price of a good sized Hollywood mansion, contained in a very small package.

Of course, those price ranges are outside of about 99.9% of the population, so fractional ownership essentially “divvies” up the value of the card, and allows everyday investors to own a piece of a legendary piece of sports history. This also allows them to participate in the upside of iconic collectibles as they appreciate over time.

Investors include the Foundry Group, Founder Collective, and New York-based Tusk Venture Partners and Courtside Ventures as well as well known athletes such as Chris Paul, Kevin Love, and Deandre Hopkins. Read More Here

The Opportunity: This is a great way to diversify your portfolio as an individual investor, as nostalgia based collectibles are hitting an all time high and set to only trend upwards. This also sets a good precedent to try and fractionalize other types of investments, using companies like Otis or Masterworks as examples but with the blockchain.

Other Noteworthy NFT News

  • Damien Hirst releases his first NFT, titled The Currency Customers had the chance at drop to purchase either the NFT or a physical copy of 10,000 spots paintings. Hirst is known for several high profile sales in the art world, including The Golden Calf, which sold for $14.4 million.

  • The Hermitage museum in Russia mints NFTs of Monet and Van Gogh’s works in its exhibit. These NFTs exist outside of the original works, but will also be featured at the museum in a special exhibit and are all autographed by the museum’s curator. Read here.

  • An early Steve Jobs application letter has sold as an NFT for $23,000. The initial paper application went for $343,000. Read here.

  • Coca Cola is releasing its first branded NFT, a Coca Cola “Loot box” with Coca Cola branded NFT wearables, an iconic sound pack, and other surprises for the winner of a 3 day auction on Opensea starting July 30th.

This has been the first issue of the Non Fungible Times. If you enjoyed it, why not share with a friend? Otherwise, like and comment on the post and let us know your thoughts!