NFTs launched by Hong Kong celebrity Stephen Chow recorded $23 million in trading volume, while a whisky distributor is using NFTs to sell a rare collection.
In this week’s newsletter, read about how another hybrid token standard aims to rival ERC-404 and how Hong Kong celebrity Stephen Chow’s nonfungible token (NFT) collection recorded $23 million in trading volume. Find out why athletes need to understand the workings of the NFT space before jumping in, and check out the liquor distributor selling a 50-year-old whisky collection using NFTs and artificial intelligence (AI). In other news, learn how Ordinals could boost Bitcoin miners after the halving.

Watch out ERC-404, there’s another hybrid NFT standard in town
A week after the launch of ERC-404, an unofficial token standard blending fungible and nonfungible tokens, a developer team claims to have done it better with a “Divisible NFT” standard. Like its rival, the token standard also aims to be a hybrid between ERC-20 and ERC-721.

The proposed standard includes fractionalization, allowing holders to trade fractionalized portions of their NFTs. Pseudonymous developer “Cygaar” claimed that despite ERC-404’s popularity, it’s “inefficient and breaks at certain edge cases.”
Stephen Chow NFTs eclipse 10,000 ETH in trading volume as community expands
Hong Kong director Stephen Chow launched an NFT collection called “Nobody.” On Feb. 7, the collection recorded an almost 10,000 Ether ETH tickers down $2,785
trading volume, worth about $23 million. The developers of the project claim that they are committed to building the intellectual property for the project, combining Chow’s previous success with new mechanisms.

Chow partnered with crypto exchange OKX on Jan. 10 to create a whitelist giveaway for the collection. More than 125,000 participated in the airdrop, with 2,500 NFTs up for grabs. The collection’s total supply is 10,000.

Dwight Howard NFTs: Athletes need to “take the time” to understand how they work
Tom Fleetham, head of business development for sports and gaming at Zilliqa, said that while there are benefits to NFTs, sports organizations or athletes must spend time understanding the intricacies behind creating NFT projects.

As an example, the executive pointed toward the recent debacle with basketball star Dwight Howard, who released an NFT drop on the Avalanche blockchain only to attract criticisms and allegations of performing a rug pull.

Source - Coin Telegraph