Nike sells NFT sneakers for thousands. Top Bitcoin and Crypto News of the Week

Our main story this week is Nike’s NFT sneakers, which sell for $6,000 or more right now.

We are also covering NFT theft, after the Bored Ape Yacht Club Instagram account was hacked; Vote for the city of Fort Worth for bitcoin mining; Central African Republic adopts bitcoin as legal tender; And Fidelity’s decision to include bitcoin in 401(k) plans.


Nike’s NFT sneakers sell for thousands of dollars

RTFKT

Nike released a batch of 20,000 digital sneakers as NFTs this past weekend. NFT sneakers, which are not physical shoes, sell for around $6000 to $9,000 in the ether. A company called RTFKT (“artifact”) that was bought by Nike last year, designs virtual sneakers. RTFKT was popular before clone collection x nft, which now sells for about $50,000 per NFT. Nike has not announced any plans for physical versions of the NFT sneakers. However, there is a file Snapchat filter that uses AR To show the shoe on your feet through the lens of a smart device.

Read CNET’s full story on Nike’s NFT sneakers here.


Hacker takes over Bored Ape Yacht Club Instagram account and steals NFTs worth millions

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Bill Hinton

boredom monkey yacht club, one of the most well-known and most expensive NFT groups, and is among the most recent targets of the NFT scam. On Monday, a hacker posted a link to the Bored Ape Yacht Club account on Instagram, promising a free gift. When people followed the link and linked their crypto wallets, their NFTs were taken. The stolen NFTs were then transferred to a wallet owned by the hacker.

The hacker stole $2 million in NFTs. (Keep in mind that NFTs are often valued at the last sale price, that doesn’t always hold up.) The Verge asked Yuga Labs, the company behind Bored Ape Yacht Club, if they would compensate victims of the hack, but Yuga Labs did not respond.

Read CNET’s full story on the Bored Ape Yacht Club Instagram hack here.


Fort Worth decided to mine Bitcoin

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Getty Images

City officials in Fort Worth, Texas, voted Tuesday to accept three bitcoin miners donated from the Texas Blockchain Association, and launch a bitcoin mining pilot program. The pilot will last six months, after which the city will be reassessed.

Texas Governor Greg Abbott has spoken positively about the crypto industry in the past, and in February, Abbott spoke He said on Twitter HEB, a popular supermarket chain in Texas, will begin installing cryptocurrency kiosks inside the store.

Texas’ stance on bitcoin mining contrasts sharply with the bitcoin mining struggle in New York, where the state assembly passed a bill Tuesday that would place a two-year ban on bitcoin mining in the state, pending environmental review. The bill will now go to the Senate for consideration.

To indicate bitcoin’s energy usage, the Digiconomist’s Bitcoin Energy Consumption Index estimates that the bitcoin network has a carbon footprint similar to that of the entire Czech Republic.

Read CNET’s full story on Bitcoin mining in Fort Worth here.


Central African Republic votes to launch legal tender for Bitcoin

Getty Images-1346301743

Getty Images

The Central African Republic passed a bill on Tuesday to legalize bitcoin in the country, becoming the second country to do so after El Salvador did last year. The International Monetary Fund was not supportive of this move. It has also urged El Salvador Against the 2021 resolution.

Read CNET’s full story about the Central African Republic’s passage of a legal bitcoin bill.


Fidelity to Offer Bitcoin Option in 401(k) Plans by Mid-Year

blue sad piggy bank

Sarah Teo / CNET

Fidelity said Tuesday that it will allow cryptocurrency to enter retirement plans starting in the middle of the year, making it the first major provider to do so. Employers will decide whether they want to introduce crypto into their retirement plans, and if so, determine the maximum contribution employees can make toward bitcoin, according to the New York Times.

The US Department of Labor has criticized Fidelity’s decision to include bitcoin in retirement plans. “We have major concerns about what Fidelity has done,” Ali Khawar, acting assistant secretary for the Employee Benefits Security Administration at the Department of Labor, told The Wall Street Journal this week. In response, Fidelity told the newspaper that it sees digital assets as “a huge part of the future of the financial industry.”

Read CNET’s full story on Fidelity including bitcoin in 401(k) plans here.


Thanks for reading. We will be back with more next week. In the meantime, check out this story by Stephen Shankland about what the metaverse will be like a multiplatform mess.

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