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Nike-RTFKT NFT universe rises to $1.4 billion in transactions

The collaboration between Nike and digital art studio RTFKT has opened a new chapter in NFT trading, with its collections approaching a volume of US$1.4 billion. With revenues reaching $170 million, this partnership highlights the growing intersection of digital assets and physical goods. The recent frenzy was catalyzed by a counterfeiting event that allowed NFT holders to pre-order limited edition Nike-RTFKT sneakers, triggering a 600% increase in trading.

NFTs unlock exclusive physical sneakers

Consumers have shown great enthusiasm for Nike-RTFKT offerings, with special events granting NFT holders exclusive access to tangible products. This step not only improved consumer engagement but also strengthened the authentication process. Sneaker fans, including LeBron James, have embraced this innovative approach, bridging the gap between physical collectibles and their digital counterparts. Furthermore, these initiatives have supported the digital authentication process, guaranteeing the legitimacy of the coveted sneakers.

Market resonance and forging success

The recent Dunk Genesis Cryptokicks parody has caused a spike in trading activity. In October alone, transactions for the necessary NFTs increased to more than half a million dollars. Furthermore, the market response to physical sneakers was equally strong, with after-sales on platforms like eBay reaching prices four times higher than the initial cost.

This strong market resonance signifies the powerful appeal of integrating NFTs with exclusive physical products, a trend that is becoming increasingly common in the sneaker industry.

Significantly, Nike and RTFKT’s digital venture is a testament to the effective fusion of NFT technology with traditional consumer goods, increasing not only the value but also the authenticity of sneakers for collectors around the world. As this blending of the physical and digital worlds takes firmer root, it is clear that the collectible footwear landscape is undergoing a significant transformation.

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Report Exposes Unsecured Cash Searches at Atlanta Airport

In a shocking investigative report, Atlanta News First uncovered the disturbing practices of U.S. Drug Enforcement Administration (DEA) task force agents. At Hartsfield-Jackson Atlanta International Airport, undercover DEA agents were found searching passengers’ carry-on luggage without a warrant and confiscating large sums of money without making any arrests. The report and lawyers say the practice raises constitutional and privacy concerns among American citizens.

Secret money searches at airports

Atlanta News First recently followed DEA task force officers in Hartsfield-Jackson, watching them as they moved discreetly from door to door. Passengers were searched immediately after their boarding passes were read, often without any clear indication of the officers’ identity or true purpose.

Film director Tabari Sturdivant recounted his disturbing experience. Mistaking a DEA agent for a Delta representative because of the airport credentials displayed, he said, “He just came up to me and asked for my ID. He didn’t say who he was. He just asked me for ID and I thought he was a Delta agent. “I had airport credentials and gave them to him immediately.”

Warrantless searches and seizures directly violate the Fourth Amendment, which is intended to protect American citizens from such unreasonable intrusions. The report notes that these actions by DEA agents not only infringe on personal freedoms, but also undermine public trust in law enforcement agencies.

This is not the first episode in which the DEA and law enforcement authorities have illegally seized people’s assets. Take, for example, the DEA’s extensive history of orchestrating “cold consent meetings” at Amtrak stations, mirroring its tactics at airports. In 2021, FBI agents seized $86 million from safes in Beverly Hills, a move that lawyers denounced as lacking adequate justification.

A report from Reason reveals that over the past decade, law enforcement authorities, led by the DEA, have seized a staggering $4 billion in cash. Data from the Department of Justice’s Office of Inspector General (OIG) indicates that approximately 65,000 cash seizures, representing 81%, were subject to administrative forfeiture by the DEA, valued at $3.2 billion.

Atlanta News First notes that film director Sturdivant represents only a fraction of the people sought for money by undercover agents at the airport. The investigative article also points the finger at Clayton County drug enforcement agents. The news team found “several similar cases in which DEA task force or Clayton County police agents searched innocent people or seized money without making any arrests.”

In 2023, carrying significant amounts of cash is increasingly viewed with suspicion, even if it is earned legitimately with proven receipts. Constitutionalists and lawyers insist that the propensity of law enforcement authorities to openly confiscate these life savings without just cause is a worrying trend.

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MultiversX launches strategic partnership with Google Cloud to advance AI and Big Data ambitions in the Web3 world

During an extensive conversation on stage at the xDay Conference, which featured several representatives from leading technology companies, government officials and influential experts, Beniamin Mincu, CEO of MultiversX, and Daniel Rood, Director of Web3 EMEA at Google Cloud, they just announced that they are joining. forces to accelerate the expansion of Web3.

MultiversX’s sharded architecture is capable of scaling over 100,000 transactions per second and has lately been the first choice as a backend solution for real-world applications in various fields. Due to its industry-wide innovations around token standards and smart accounts, MultiversX has been the platform of choice for Europe’s first institutional marketplace for digital assets and for Audi’s platform for virtual reality in cars, holoride, among others.

To help Web3 projects and users gain valuable insights from powerful data analytics and AI tools, BigQuery, Google Cloud’s serverless data warehouse with a built-in query engine, has completed MultiversX network integration. This has the potential to immediately speed up the execution of large-scale, data-first blockchain projects.

“There are exciting opportunities that allow Web3 developers to build and scale faster, and as we explore new verticals in the space, our partnership with MultiversX will allow us to expand our strategy and reach further and solidify our position as a key driver of innovation in the blockchain world.” added Daniel Rood, Director of Web3 EMEA

Additionally, Google Cloud’s participation in the MultiversX network allows ecosystem creators to leverage the full suite of advanced tools and services available on the platform to deliver high performance and scalability to the non-blockchain components of their dApps.

With a strong focus on ecosystem development, the collaboration between the two industry leaders had its first joint initiative at the xDay Hackathon, where hundreds of developers and startups benefit from up to $1 million in prizes and funding, while Google Cloud is the main partner of the Artificial Intelligence track.

“We are excited to introduce this collaboration as part of a strategic plan that aims to expand our ecosystem and provide important opportunities for users and developers. MultiversX is in a unique position with great potential for accelerated growth, and the additional products and services offered by Google Cloud are a key contribution to this.” said Beniamin Mincu, CEO of MultiversX

Google Cloud’s plans to expand to Web3 are one of many pioneering examples in its long history of supporting innovation and technological advancement. Lines of collaboration with MultiversX in the coming months will continue to explore deeper integration and support from the MultiversX network, as well as new ways to help startups grow and scale.