PayPal removes NFT protections, Adidas NFT sneakers and more
PayPal removes protection for NFT buyers and sellers
Multinational payment services firm PayPal is quietly removing safeguards for purchases involving non-volatile tokens (NFTs).
On May 20, revised policies will go into effect, removing buyer and seller protection covers for NFT purchases. PayPal says in a subsequent policy page that it has revised its Purchase Protection program to exclude NFTs from eligibility.
In addition, the company also highlighted that it is changing its seller protection program to prevent NFT transactions of $10,000.01 and above.
This means that PayPal's guarantee does not cover NFT sales over $10,000 against false claims, chargebacks, or fraud that could result in financial loss.
Adidas and Stepan release the NFT sneaker
Move-to-earn game Step has announced a partnership with popular sneaker retailer Adidas to release a pair of collaborative sneaker NFTs on the Solana network.
As Stepan said in the announcement, the collaboration is “long-term” and aims to provide their community with a complete experience with many activities.
According to Stepan, the partnership aims to provide digital assets that promote healthier and more active lifestyles.
Coin information website CoinGecko reports.
Related: Nifty News: LA's Bored Ape Lovers Go Hungry, Bitcoiners Sell $500 Game Boy Dupe & More
Louis Vuitton has dropped a $8,400 figural varsity jacket
Fashion brand Louis Vuitton has announced a $8,400 varsity jacket for fall.
The jacket was designed by American record producer and singer Pharrell Williams and is part of the fashion brand's ongoing NFT project.
The jacket is made of suede buckskin and bears the brand's logo. Users can purchase the jacket through the token-protected site and will receive the physical version in November or December.
The jacket is the third product released by the fashion brand exclusively for NFT holders. The first product was a bag that cost about $9,000. Next, a $6,400 digital mini trunk was sold for token holders only.
Magazine: Lazarus Group's Favorite Exploit Revealed – Crypto Hacks Analysis
