Christie’s continues to ignite the NFT market; F1 teams enter NFT

The NFT market has been on fire, with many institutions and celebrities entering the market.

The entire crypto industry has had a tumultuous week, yet is there a consistent theme through its ups and downs? As we can see there are some new NFT projects underway, let’s take a look at the latest NFT news this week.

First, the Andy Warhol Foundation and Christie’s have ignited the market with the launch of their fifth NFT series, “Andy Warhol: Machine Made”, with a starting bid of $10,000.

The NFT series, which includes Warhol’s signature motifs, will close next week with proceeds going to the Andy Warhol Foundation.

Christie's continues to ignite the NFT market; F1 teams enter NFT

However, this action by the Andy Warhol Foundation and Christie’s is not without controversy. Some experts claim that Christie’s has misrepresented the authenticity of the digital version, making this product closer to an “exhibition reproduction”.

Would you pay a million dollars for a simple red dot pixel NFT?

Last month, digital artist Pak sold “The Pixel” at Sotheby’s for well over $1 million. But many might say that seeing this happen again seems unlikely. However, with the listing of “The Pixel” on OpenSea this week, we will find out in a short time whether “The Million Dollar Red Pixel” will meet its asking price.

Major League Soccer is entering the NFT market, with the first major sports league to participate in the NFT already in the marketplace. mls is looking to explore more blockchain technologies, including smart contract-based ticket management and media rights integration, starting with arts-centric pass-throughs.

Meanwhile London-based Angelo Galasso, known for its luxury goods, has launched NFT as its special business. A collaboration with digital artist Lee ‘Doc Lee’ Robinson has produced 24 unique artworks inspired by AG fashion pieces and will be listed on OpenSea.

Christie's continues to ignite the NFT market; F1 teams enter NFT

More NFTs are being created. From fan passes to unique digital artifacts, the use of blockchain technology in the motorsports industry is also proliferating. This week, Formula One’s Honda Red Bull Racing team partnered with Tezos as an “Official Blockchain Technology Partner”. Creating the team’s first NFT experience.

Levi’s and tennis star Naomi Osaka were guests on the NFT platform Bitski, and as part of Levi’s “501 Day” celebration, Levi’s launched a suite of digital As part of Levi’s “501 Day” celebration, Levi’s launched a suite of digital products, some of which were in partnership with Naomi Osaka. Naomi Osaka’s original NFT 501 trading card was released on Bitski, an NFT platform dedicated to brand-talent partnerships.

The four-time Grand Slam champion, who is just 23 years old, began joining the NFT marketplace based on a partnership with Osaka’s sister, Mary Osaka, and the two released a five-piece collection that generated approximately $600,000 in revenue, with proceeds going to the Academy of Theatre.

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