IHOP’s Cheeky NFT Announcement
International House of Pancakes (IHOP) announced its first NFT, which turned out to be a play on words for their new “Thick and Fluffy French Toast” item. The initial announcement led to a mixture of curiosity and confusion on social media, with some praising the chain for its innovation while others criticized it for misleading branding. The announcement sparked discussions about the true utility of NFTs and how brands leverage Web3 terminology.
Logan Paul’s NFT Saga
In other NFT news, YouTuber Logan Paul saw a dramatic drop in the value of his NFT from 188 Ether (ETH) to a mere $10, symbolizing the fluctuating NFT market. The NFT, which he purchased for approximately $623,000, has regained some attention following Paul’s social media buzz, but questions remain about the sustainability of NFTs amidst the current market downturn.
Rising Crypto Trademark Applications
According to trademark attorney Mike Kondoudis, 2022 has seen a surge in cryptocurrency and metaverse-related trademark applications, with a total of 4,618 applications filed so far. Notable filings include Ford’s applications for virtual goods and Jack Daniel’s NFT-authenticated media. This indicates a growing interest and commitment from major brands to explore NFT and metaverse integrations.
Binance Breaks Guinness World Record
Meanwhile, Binance made headlines by collaborating with the Talent Network to break the world record for the largest cryptocurrency lesson held in Nuevo León, Mexico. The event, which featured input from Binance CEO Changpeng Zhao, was attended by 289 participants, showcasing Binance’s commitment to crypto education amidst the ongoing market challenges.
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