Macy’s Thanksgiving Day Parade NFTs are Attracting Bids Worth Thousands


American retailer Macy’s listed a ten-piece series of non-fungible tokens (NFTs) based on the Thanksgiving Day theme. The store is famous for its annual Thanksgiving Parade and it is now bringing this to the crypto world. NFTs are virtual collectibles associated with real life objects like games, artwork, and music among others with ownership locked and transferred on blockchain. Each of the NFTs are inspired by Macy’s parade balloons that debuted years ago. With this NFT collection, the retail chain is marking the 95th year of its famous Thanksgiving Day Parade. The biddings for these NFTs will close on November 30.

Balloons showing Macy’s black and white toy soldier from 1920, elf from the year 2000, and a spaceman from the 1950s are among the NFTs released to be auctioned. Proceeds from the auction will be donated to Make-A-Wish Foundation.

The current bids on this NFT collections range from $8000 (roughly Rs. 5.9 lakh) to $29,000 (roughly Rs. 21 lakh), as per the information displayed on NFT marketplace Sweet.

Images of these NFTs have been posted on Twitter.

Going bullish on the NFT wagon, the retail chain has also created 9,500 parade-themed pieces as first-come, first-serve giveaways.

In the third quarter of 2021, NFT sales volume surged to $10.7 billion (roughly Rs. 79,820 crores), up by over eightfold from the previous quarter, according to data from market tracker DappRadar.

Give the popularity of the space, several brands like Macy’s have released NFTs in order to connect with the new-age crypto-powered population.

Earlier in March, Taco Bell became the first fast food brand to release an NFT collection. The company showcased five versions of the “NFTacoBells” and sold five copies of each within 30 minutes on trading platform Rarible.

In September, burger mammoth Burger King partnered NFT platform Sweet to allow customers to scan a QR code and collect NFTs.

Recently, fast food chain McDonalds also released a limited edition of 10 McRib NFTs in the US in a bid to do something big on the 40th anniversary of the McRib burger.

Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

Source link Gadgets 360


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