Fantom Token Skyrockets as Dolce & Gabbana Faces Lawsuit Over NFT Deliveries | Video
Phantom’s FTM Token has seen a rise in value due to an upgrade, while Dolce and Gabbana are facing a lawsuit over their NFT project. This is Coin Desk Daily, I’m Jen Sani, bringing you the latest in the world of cryptocurrency. FTM has been performing well in the past week, thanks to positive market sentiment surrounding its sonic upgrade and the growth in total value locked on the protocol. FTM has seen a 13% increase in value over the last seven days, outperforming the broader market as of 9:30 a.m. Eastern Time. The token is currently trading around 80 cents, while the Coin Desk 20 index remains above 2300.
The Hong Kong Monetary Authority and the People’s Bank of China have expanded their digital UN pilot program, allowing adopters to set up ECNY wallets with just a phone number and make direct payments to merchants without a mainland bank account. However, the wallets cannot be used for person-to-person transfers. China and Hong Kong have been conducting cross-border digital UN trials since late 2021, with Hong Kong also testing its own CBDC in the second phase of its pilot in March.
In other news, Dolce and Gabbana are facing a lawsuit over their NFT project, with reports suggesting that customers were promised access to digital rewards, physical products, and exclusive events upon purchasing the NFTs. However, one customer alleges that they spent $6000 on the asset and only received about $200 worth of value, as the delivery was delayed and the digital outfits provided could only be used in a metaverse with a limited user base.
That’s all for Coin Desk Daily. For more updates, visit coindesk.com. Thanks for watching, and we’ll see you next time.
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