Here’s What We Know About Macy’s Thanksgiving Day Parade NFTs:

Macy’s in the United States has released a ten-piece set of non-fungible tokens (NFTs) with a Thanksgiving Day theme. The shop is known for its annual Thanksgiving Parade, which it is now extending to the cryptocurrency community. NFTs are virtual collectibles that are linked to real-world items such as games, artwork, and music, among others, and whose ownership is secured and transferred via blockchain technology. The NFTs are all based on Macy’s parade balloons from years past. The retail chain’s iconic Thanksgiving Day Parade is celebrating its 95th year with this NFT collection. On November 30, the auction for these NFTs will conclude.

According to the statistics published on NFT marketplace Sweet, the current bids for this NFT collection vary from $8000 (approximately Rs. 5.9 lakh) to $29,000 (about Rs. 21 lakh).

The retailer has also manufactured 9,500 parade-themed products as first-come, first-serve gifts, demonstrating its confidence in the NFT wagon.

According to statistics from industry tracker, DappRadar, NFT sales volume increased by more than eightfold in the third quarter of 2021, to $10.7 billion (approximately Rs. 79,820 crores).

Given the prominence of the space, a number of companies, like Macy’s, have produced NFTs in order to reach out to the new-age crypto-savvy populace.

Taco Bell was the first fast-food chain to debut an NFT collection earlier this month. On the trading site Rarible, the business displayed five variations of the “NFTacoBells” and sold five units of each in under 30 minutes.

Burger King teamed with NFT platform Sweet in September to allow consumers to collect NFTs by scanning a QR code.

McDonald’s recently launched a limited quantity of 10 McRib NFTs in the United States to commemorate the 40th anniversary of the McRib burger.

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