KFC is a US-based fast food restaurant chain. It has recently made a big announcement of the introduction of an NFT artwork. ‘BuckETH’ revolved around the company’s ‘bucket’ portions. A digital marketing firm based in Mumbai, Blink Digital, has created BuckETH.
On OpenSea, the NFT artwork will be hosted. In the digital format, NFTs are replicating the aspect of unique ownership of physical artwork.
The crypto market crash and inflation-driven drops in equity markets wiped out liquidity from the NFT space since its inception. In 2014, the market traded over 200,000 units daily, generating a total trade value of $428 million, according to the global market tracker
It has been reported that 12,700 units have been sold, and $4.7 million has been lost. Over the past year, token trading volume has fallen by 94%, while NFT sales value has fallen by nearly 99% worldwide.
