• Coach and GQ China Arm to Launch Ethereum NFTs

  • According to a statement shared with ULTCOIN365, Coach and GQ China’s content teams are collaborating with Singapore startup ZKBox to release six limited edition NFTs.

    Coach is the first luxury brand to enter the NFT market, following in the footsteps of other luxury brands and celebrities.

    According to the statement, the brand collaborated with GQLab, GQ China’s content development team, to create “a unique interactive NFT experience.” Fans can mix and match designs and submit their ideas through China’s Twitter-like platform Weibo to win one of the six NFTs.

    ZKBox employs zero-knowledge (ZK) rollups, a technology that promises to scale Ethereum at Layer 2 while maintaining Layer 1 decentralization and security. According to Huobi Research, rollups has been around for about two years but is still in its early stages and is only now gaining traction.

    NFT applications of ZK rollups, according to Hailan Jia, ZKBox’s PR Director, are lacking.

    The most important ZK rollup protocols have yet to discover compelling NFT use cases for ZK rollups. In July, Matter Labs’ zkSync announced NFT support. Loopring only added NFT support in August, stating that it is still looking for use cases.

    ImmutableX, another ZK rollup-based NFT protocol focused on gaming, raised $60 million earlier in September.

    In July, the accounting firm Ernst & Young released its own ZK rollup-based protocol.

    Rollups, including an optimistic type, will be the “cornerstone” of Ethereum scaling, wrote Vitalik Buterin in January.

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