NFT Market Expands in Alcohol, Athletics and Art; Regulators Warn Against Crypto Risks; U.S. Agencies Target Crypto Fraud | BakerHostetler

[co-author: Lauren Bass]

Alcohol, Athletics, and Art: NFT Adoption Continues to Expand

By Lauren Bass

To celebrate National Rum Day, a privately held liquor label has reportedly launched a platform from which it will auction a specially designed non-fungible token (NFT) – a 3D video that details the history and journey of the label. Sale proceeds will be donated to an initiative that helps Black-owned establishments obtain liquor licenses. In related news, having previously launched several NFTs, an international brewery has reportedly expressed interest in leveraging the NFT market and creating virtual “brand activations”. According to the company’s global head of technology the brewer’s intention is to build more “loyal and engaged communities” through the digital metaverse.

In athletic industry news, a Spanish football club has reportedly become the first…