Paypal Joins Coinbase TRUST Network, Nike’s $185M NFTs Sale, Pudgy The Penguin 400 ETH Sale

Written by Crypto University

August 24, 2022

Paypal Joins Coinbase TRUST Network 

PayPal, a digital payment platform, is the latest addition to the Coinbase TRUST network. TRUST stands for Travel Rule Universal Solution, it increases compliance while prioritizes the security and privacy of customers. Trust launched in 2021 and now operates in 38 countries.

“The addition of PayPal marks another milestone in TRUST’s journey to become the global, industry-standard solution for Travel Rule compliance,” said Coinbase in an official blog announcement. 

PayPal is a leading online payments solution. It facilitates convenient financial services and commerce for over 400 million consumers and merchants worldwide. The company started in 1998, and Dogecoin-fan Elon Musk was one of the founding members.

Nike’s $185M NFT Sales

Nike, the footwear manufacturing company, has generated $185 million through the sales of its NFTs. This comes after the sports brand acquired RTFKT, a web3 development company that creates NFTs. Earlier this year, Nike launched its first NFT collection called Cryptokicks, modeled after the Nike Dunk. 

“Nike is focused on potential ways to use blockchain technology to serve our consumers in the athletic footwear, apparel, and equipment space. This is just the start to a future of serving athletes in this space,” said a Nike representative at the launch of Cryptokicks.

The Cryptokicks collection consists of twenty thousand unique NFTs pieces. Thus far, it has sold more than 12000 units. The sales generated Nike an enormous amount of money during an economic and grueling NFT bear market. The collection is available for purchase on Opensea. 

Pudgy The Penguin NFT Sells For 400 ETH

Pudgy Penguins, a “PFP” NFT niche collection, sold one of its rarest pieces for 400ETH, approximately $650,000, on Monday. In the last week, the Pudgy Penguins floor price has increased by almost 69%, jumping from 2.2 ETH to 3.8 ETH.

“I was able today to purchase the rarest penguin in a collection that helped me make my first bit of life-changing money,” the buyer of the left-facing penguin, who goes by FUDrick Douglas, said today on Twitter.

Pudgy Penguin #6873, is the rarest piece in the NFT collection, it’s the only one of 8,888 items that are staring in a different direction. It is also the highest sum paid for a piece in the project’s history. Pudgy Penguins debuted in June 2021 and immediately rose to become one of the most sought-after NFTs in the “PFP” niche created by CryptoPunks and Bored Ape Yacht Club.

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