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Nike, an American athletic footwear and apparel company renowned in the non-fungible token for its sneaker collectibles, has announced plans to exit the non-fungible token market in January 2025. Nike appears to be following the footprints of the crypto exchange Kraken, which also announced plans to wind down its non-fungible token marketplace. Kraken and Nike’s exit plans show that the NFT market has matured and is now scaling down weak brands and projects. Nike Shuts Down Its NFT Studio RTFKT In a December 02 press release, Nike confirmed plans to shut down its digital asset incubation studio RTFKT in January 2025. The athletic footwear and apparel company acquired its digital asset studio RTFKT in December 2021. Nike’s exit appears a time, when the non-fungible token market is retesting a strong bull run, which has pushed some floor prices back above 30 ETH. pic.twitter.com/ySShPa0I7r — RTFKT (@RTFKT) December 2, 2024 RTFKT is a digital asset incubation studi...

The move follows the crypto exchange's successful VASP registration in Italy. Cryptocurrency exchange Kraken has received an Electronic Money Institution (EMI) from the Central Bank of Ireland and registration as a virtual asset service provider (VASP) from the Bank of Spain. According to the Sept. 26 announcement, the EMI license enables Kraken to expand euro-to-crypto trading services to 27 European Union (EU) member states and European Economic Area (EEA) countries. Meanwhile, the VASP registration in Spain allows Kraken to offer exchange and wallet custodial services to Spanish residents. The firm is also registered as a VASP in Italy and Ireland. Kraken's vice president of global operations Curtis Ting commented: "We see a firm foundation for crypto in Europe, which has forward-looking regulation that enables us to grow with confidence." The platform currently supports over 200 trading pairs across six fiat currencies — the British pound, euro, U.S. dollar, ...

Puma launches Black Station, a 3D metaverse experience allowing Puma Pass NFT holders access to exclusive products. In this week’s newsletter, read about footwear giant Puma’s new metaverse experience for Puma Pass nonfungible token (NFT) holders. Check out Meta CEO Mark Zuckerberg’s comments on the new Apple Vision Pro headset, and how NFT platform Enjin has launched a new blockchain. In other news, GameStop terminated the executive responsible for its NFT push, and don’t forget this week’s Nifty News, featuring Kraken’s NFT marketplace and Coinbase’s Stand With Crypto NFTs. Footwear conglomerate Puma launches 3D Web3 experience Footwear company Puma has launch ed a 3D metaverse experience called Black Station. According to its creators, it’s an experiment to provide Puma Pass NFT holders access to various product drops. Despite this, the company highlighted that the experience is open to everybody, but those with special tokens airdropped to Puma Pass holders will have perks like...