Our main story this week is the NFT sneakers that Nike is selling, which are priced at $6,000 or more right now.
We also covered an NFT theft, after the Bored Ape Yacht Club Instagram account was hacked; the city of Fort Worth voting to mine bitcoin; the Central African Republic adopting bitcoin as legal tender; and Fidelity’s decision to include bitcoin in 401(k) plans.
Nike’s NFT sneakers are selling for thousands of dollars
Nike released a collection of 20,000 digital sneakers as NFTs last weekend. The NFT sneakers, which are not physical shoes, are selling for around $6,000 to $9,000 in ether. A company called RTFKT (“Artifact”), which Nike bought last year, designs the virtual shoes. RTFKT has already made the popular Snapchat filter that uses AR to make shoes appear on your feet through the lens of a smart device., which now retails for around $50,000 per NFT. Nike has not announced any plans for physical versions of the NFT shoes. However, there is a
Hacker takes over Bored Ape Yacht Club’s Instagram account and steals NFTs worth millions
, one of the best-known and most expensive NFT collections, is among the latest to be targeted by an NFT phishing scam. On Monday, a hacker posted a link to the Bored Ape Yacht Club’s Instagram account, promising a free gift. When people followed the link and connected their cryptocurrency wallets, their NFTs were taken. The stolen NFTs were then transferred to a wallet owned by the hacker.
The hacker got away with a few million dollars worth of NFTs. (Remember that NFTs are usually valued at the last sale price,.) The Verge asked Yuga Labs, the company behind the Bored Ape Yacht Club, if the victims of the hack would be compensated, but Yuga Labs did not respond.
The city of Fort Worth decides to mine bitcoin
City of Fort Worth, Texas officials voted Tuesday to accept three donated bitcoin mining machines from the Texas Blockchain Association and launch a pilot bitcoin mining program. The pilot will last six months, and then the city will reassess.
Texas Governor Greg Abbott has spoken favorably about the cryptocurrency industry in the past, and in February, Abbott said on twitter that HEB stores, a popular Texas supermarket chain, would begin installing cryptocurrency kiosks in stores.
Texas’ attitude toward bitcoin mining is in sharp contrast to the fight for bitcoin mining in New York, where the state assembly passed a bill on Tuesday that would put a 2-year moratorium on bitcoin mining in the US. state, awaiting an environmental review. The bill will now go to the state Senate for consideration.
For reference on bitcoin’s energy usage, Digiconomist’s Bitcoin Energy Consumption Index estimates that the bitcoin network has a carbon footprint comparable to the entire Czech Republic.
Central African Republic votes to make bitcoin legal tender
The Central African Republic passed a bill on Tuesday to make bitcoin legal tender in the country, becoming the second nation to do so afterward.did last year. The International Monetary Fund did not support the change. had also urged against the decision in 2021.
Fidelity will offer bitcoin option on 401(k) plans by mid-year
Fidelity said on Tuesday that it will allow cryptocurrency in retirement plans starting mid-year, making it the first major provider to do so. Employers will decide whether they want to offer cryptocurrencies in their retirement plans, and if so, determine the maximum contribution employees can allocate to bitcoin, according to The New York Times.
The US Department of Labor criticized Fidelity’s decision to include bitcoin in retirement plans. “We have serious concerns about what Fidelity has done,” Ali Khawar, acting assistant secretary of the Department of Labor’s Employee Benefits Security Administration, told The Wall Street Journal this week. In response, Fidelity told the Journal that it sees digital assets as “a big part of the future of the financial industry.”
Thanks for reading. We’ll be back with a lot more next week. In the meantime, check out this Stephen Shankland story about how the metaverse will be a cross-platform mess.