NFT Market Update - 1st September, 2022

Andreessen Horowitz’s crypto arm, a16z, wants to establish industry standards for how NFTs can be used by offering a lawyer-vetted array of free licensing options in an approach similar to Creative Commons.

Ticketmaster will let event organizers issue NFTs tied to tickets on Flow blockchain. Special experiences like loyalty rewards, celebrity meet-and-greets, or simply memorabilia can be offered in an NFT format.

Following in the steps of Yuga Labs, OpenSea announced they are fully “committed to solely supporting NFTs on the upgraded PoS chain” and will not be supporting PoW NFTs on its platform.

Bitcoin evangelist Michael Saylor is being sued by Attorney General for the District of Columbia for tax fraud, claiming he has avoided paying taxes on “hundreds of millions of dollars” of income he earned while living in the district.