top of page
  • Dot Dot Research

PayPal Removes NFT Protections, Adidas Launches NFT Sneakers, and More



In this edition of Nifty News, we cover significant developments in the world of NFTs, including PayPal's decision to remove protections for NFT transactions and Adidas' collaboration with Stepn to release NFT sneakers on the Solana network. Read on to explore these latest updates.

PayPal's NFT Protection Policy Update:

Multinational payment services firm PayPal has announced amendments to its policies regarding non-fungible tokens (NFTs). Effective May 20, PayPal will no longer provide buyer and seller protection coverages for NFT purchases. Additionally, the company will exclude NFT transactions worth $10,000.01 or above from its Seller Protection Program. This change means that PayPal's guarantee will no longer cover high-value NFT sales against false claims, chargebacks, or scams.



Adidas x Stepn Collaboration:

In an exciting collaboration, move-to-earn game Stepn has partnered with renowned shoe retailer Adidas to launch co-branded sneaker NFTs on the Solana network. The long-term collaboration aims to provide the Stepn community with a comprehensive experience through various activations. These digital assets, priced at approximately 10,000 GMT tokens (the project's native coin), are designed to promote healthier and more active lifestyles while offering collectors exclusive access to limited-edition NFT sneakers.



The recent developments in the NFT space, including PayPal's policy changes and the collaboration between Adidas and Stepn, underscore the dynamic nature of the digital asset landscape. While PayPal's decision to remove protections for NFT transactions may introduce new challenges for buyers and sellers, collaborations like the one between Adidas and Stepn offer exciting opportunities for collectors and enthusiasts to engage with NFTs in innovative ways. As the NFT market continues to evolve, it is essential for participants to stay informed about regulatory changes and industry developments to navigate this rapidly changing landscape effectively.


FAQ's

What changes is PayPal making to its policies regarding NFT transactions?

PayPal is removing buyer and seller protection coverages for NFT purchases, effective May 20. Additionally, NFT transactions above $10,000.01 will be excluded from PayPal's Seller Protection Program.

What is the collaboration between Adidas and Stepn about?

How much do the Adidas x Stepn NFT sneakers cost?

Why is PayPal's decision significant for the NFT market?


To stay updated on the latest developments in the world of NFTs and digital collectibles, be sure to explore the wide range of content available on https://www.soyoucollect.com. From NFT insights to artist spotlights and collection showcases, we're here to keep you informed and inspired in this dynamic and evolving landscape.

Comments


bottom of page