Major brands jump on NFT bandwagon, but market crash dents the hype
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Many major brands jumped on the NFT hype train but are now quietly moving on as the market crashes. Starbucks, Reddit, Ticketmaster and others keep trying to push NFTs.
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Gaming companies like Square Enix and Ubisoft are still exploring NFT video games despite backlash. Major publishers see potential in "play to earn" models.
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Apparel brands like Nike and Adidas released digital shoe NFTs, hoping sneakerheads would buy scarce digital assets. Adidas is still collaborating on new NFT drops.
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Shopify launched tools to let sellers "tokengate" products, forcing buyers to purchase NFTs for access. Critics see this as gatekeeping and excluding non-NFT buyers.
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Toy brands like Disney and Barbie are partnering with NFT startup Cryptoys to sell digital collectibles, capitalizing on FOMO. Cryptoys is now exploring "kid-friendly" NFTs with AI chatbots.