NFT News: Alibaba Scandal, English Premier League and Bored Ape Failure

Alibaba banned users from using massage guns, Ty Lopez launched his own NFT project, and Bored Ape Yacht Club sales fell 65%.

OG Social Club

Entrepreneur and social media star Tai Lopez launched his own NFT project called “OG (Original Garage) Social Club”.

Lopez decided to name his project after his famous 2015 advertisement in which he showed off his Ferrari and 2,000 new books in his garage to promote his business courses.

The project provides for three types of NFTs: Mentorship silver cards, Mastermind gold cards, and 1v1 mentoring black cards. All cards provide access to an online social club with some bonuses.

For example, the silver tier has an NFT, reportedly priced at 18.4 Ether (ETH), or around $50,000, which gives the holder the chance to win $10,000 in a one-on-one basketball game with Lopez. The gold-level NFT allows a hodler to watch a two-hour film with Lopez once a year for three years.

Alibaba NFT bans massage guns

The Alibaba marketplace has restricted more than 680 users from accessing the Jingtan NFT market due to the use of massage guns or spam computer software in the NFT purchase process.

An Alibaba spokesperson told Forkast News that the firm’s tech department concluded that some users were using massage guns to quickly click purchase buttons.

Accounts accused of this type of fraud were blocked for one year.

English Premier League and NFT

By the end of 2022, the English Premier League (EPL) plans to officially launch licensed NFTs.

All 20 football league clubs discussed the sale of NFT rights at a shareholder meeting on Tuesday, The Telegraph reported. For now, the League is carefully considering which blockchain and firm to partner with, as it could be a deal worth hundreds of millions of pounds.

Bored Ape

The trading volume of the previously popular NFT project Bored Ape Yacht Club (BAYC) has fallen by 65% ​​over the past 30 days. BAYC generated $92.14 million in secondary sales from 526 traders over the past month, down 58.22% from the previous month, according to DappRadar data.

However, it appears that the entire NFT market is experiencing a severe downturn in activity, and in the past 30 days, the floor price of the BAYC token has risen by 22.16% to around $197,800, according to DappRadar.

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