The floor prices of some of the largest non-fungible token (NFT) collections have sunk to nearly two-year lows. The most expensive NꦑFT collections by market capitalisation are now swimming in a sea of red as some 🐎of the NFTs in those collections hit close to two-year lows over the past week.
On July 3, 2023, the floor price of Yuga Labs’ flagship Bored Ape Yacht Club (BAYC) collection—the second largest by market valuation, accor🦋ding to CoinGecko—reached 27.7 Ether, or $54,200, a level last seen in September 2021.
Credit Suisse To Launch NFTs
Swiss bank Credit Suis🎐se has announced it would be collaborating with the Swiss Football Association to launch 756 Ethereum NFTs, with all sales going towards promoting women’s soccer in the Alpine𒐪 nation.
It is the bank’s first foray into NFTs, which will be made available through its CSX app and bring additional fea💝tures for digital assets without the need for cryptocurrency or 🔯a cryptocurrency wallet.
The NFTs will be purchased through the app using Swiss francs. According to the bank, thi𒉰s “first step” was intended to be “simple and client-friendly” so that a “broad client base” could access digital assets.
With regard to the NFTs, each one features a member of t🔥he Swiss Women’s National Team and offers varied degrees of bonuses and advantages 𒐪based on rarity.
There are three rarity levels, with 𝔉690 of the least rare starting at around 150 Swiss francs ($170), while the 11 most rare are priced at over♌ 10,000 Swiss francs ($11,000).
Thai SEC Bans Use Of Customer’s Crypto Assets For Lending, Investment
The Securities and Exchange Commission (SEC) of Thailand has published new regulations aimed at protecting investors for companies that provide services𝕴 for digital assets.
According to the new regulations, companies that provide services for digital assets must publish proℱper warnings that underline the risks involved in trading cryptocurrencies.
All pl🍌atforms must release the following message: “Cryptocurrencies are high risk. Please study and understand the risks of cryptocurrencies thoroughly, because you may lose the entire investment amount.”
According to the Thai SEC, the warning message must be clearly visible, and before customers can use the service,🌳 the business operator must arrange for the users to give consent and acknowledge the risks.
Apart from a trading risks disclaimer, the new guidelines also prohibit service pro🍸viders from using customers’ f෴unds for lending or investment.
Investor protection regulations have been under discussion since Septe🧜mber 2022 amid the crypto lending crisis that saw firms such as BlockFi and Celsius declare bankruptcy.
