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Web3 Woundup – 11/06/23

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This week’s Web3 Woundup sees Kraken launch its NFT exchange and major launches for Puma and Louis Vuitton.

What’s this, good news? Heavens.

Kraken Launches NFT Exchange

Crypto exchange Kraken this week officially opened its NFT platform, Kraken NFT, after being in beta for over six months. Kraken joins other crypto exchanges like Binance in unveiling a proprietary NFT exchange, apparently unfazed by the crypto winter.

The launch saw the platform increase the number of collectibles from 70 offered during beta to more than 250 spread across the Polygon, Solana and Ethereum blockchains. The exchange revealed that it will list both premium and affordable NFTs over time to accommodate more collectors.

Puma Signs NFT Deal with NBA Star LaMelo Ball

Sportswear maker Puma this week announced an NFT collection in partnership with basketballer LeMelo Ball and Gutter Cat Gang. GutterMelo MB.03, which features limited edition Puma shoes, will retail for $175.

Puma will also allow collectors to purchase the physical kicks represented by the NFTs in a move that resembles that of its competitor Nike which also has NFT-linked sneakers.

China boosted the crypto market in 2019 after it announced the adoption of blockchain technology, and bagholders will be hoping that this news can provide a further boost in crypto prices.

Louis Vuitton Announces ‘Treasure Trunks’ Phygital NFT Collection

Luxury fashion brand Louis Vuitton this week launched a new NFT collection known as ‘Treasure Trunks’. The NFTs in the collection are ‘soulbound’, meaning that collectors can’t trade them, although the fashion house said that subsequent collectibles will be able to change hands.

Each collectible, which has both physical and digital elements (known as ‘phygital’), will retail for around $42,000 and will give holders access to more perks such as exclusive Louis Vuitton items.

For that price you should get a free handbag at least.

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