On May 20, PayPal will implement new rules that will exclude NFTs from its consumer and seller protection coverages.
In order to facilitate transactions using nonfungible tokens (NFTs), the global payment processor PayPal is covertly removing security measures.
Modified rules will eliminate NFT purchase buyer and seller protections on May 20. Payment processing firm PayPal has updated its Purchase Protection Programmed to no longer cover NFTs, as stated on its soon-to-be-live policies website.
Besides this, the business made note of the fact that it is revising its Seller Protection Program to not cover NFT transactions with a value of $10,000.01 or more.
As a result, PayPal’s guarantee for NFT sales over $10,000 will no longer protect against fraudulent claims, chargebacks, or scams that might result in financial losses.
Earn money by moving Stepn and Adidas, a well-known shoe shop, have established a partnership to launch co-branded sneaker NFTs on the Solana network.
The partnership is “long-term” and intends to provide Stepn’s community with a complete experience via various activations, according to the release.
Digital assets that encourage healthier and more active lives are the goal of the partnership, according to Stepn.
According to currency data website CoinGecko, the price of the shoes will be about $10,000 GMT tokens, which is the native coin of the project and is now worth around $2,500.
A varsity jacket by Louis Vuitton, retailing at around $8,400, will have both the actual clothing and an associated digital collectable NFT.
The American musician and record producer Pharrell Williams is responsible for the jacket’s design; it’s part of the fashion label’s continuing Via NFT initiative.
The suede buckskin jacket has an embroidered company insignia. Later in November or December, users will get the actual version of the jacket, which they may buy via a token-gated portal.
This coat is the third item in the fashion label’s exclusive Via NFT collection. An approximately $9,000 bag was the first offering. Then, token holders were the only ones to purchase a digital small trunk worth $6,400.
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