Paypal Eliminates NFT Protections, Adidas NFT Footwear, and More

On May 20, PayPal will implement revised procedures that will no longer include NFTs in buyer and seller protection plans.

PayPal Eliminates Safeguards for NFT Vendors and Purchasers.

PayPal, a global payment services company, is gradually removing safeguards for purchases involving nonfungible tokens (NFTs).

The revised policies will go into effect on May 20 and will no longer provide buyer and seller protection for NFT purchases. PayPal announced that it has updated its Purchase Protection Program to no longer include NFTs as eligible transactions on its forthcoming policy page.

In addition, the business announced that it will no longer accept NFT transactions totaling $10,000.01 or more under its Seller Protection Program.

This implies that NFT sales above $10,000 will no longer be protected by PayPal’s guarantee from fraudulent claims, chargebacks, or other schemes that can result in financial losses.

NFT Sneakers are Released by Adidas and Stepn.

Move-to-earn gameplay Stepn declared that it will be releasing co-branded sneaker NFTs on the Solana network in collaboration with well-known shoe shop Adidas.

According to Stepn’s release, the partnership is “long-term” and intends to offer their community a comprehensive experience through several activations.

Stepn states that the partnership intends to provide digital resources that encourage active and healthier living.

The project’s native coin, 10,000 GMT tokens, is approximately equivalent to $2,500 when purchased, based on CoinGecko, a website that provides information on coins.

The Louis Vuitton Digital varsity jacket costs $8,400.

The $8,400 varsity jacket from fashion company Louis Vuitton will be available as both a physical item and a corresponding digital collectible NFT.

The jacket is a part of the fashion brand’s ongoing Via NFT project and was designed by American singer-songwriter and record producer Pharrell Williams.

The brand’s embroidered emblem is a feature of the suede buckskin jacket. The jacket is available for purchase on a token-gated website, and users will receive the physical version in late November or early December.

The third item of clothing that the fashion business has made available just to Via NFT users is the jacket. An approximate $9,000 bag was the first item sold. Subsequently, a digital small trunk valued at $6,400 was offered exclusively to token holders.

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