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NFT-Linked Restaurant and Lounge Construction Halted in San Francisco Due to Macroeconomic Challenges

The Sho Group has cancelled its plans to build a restaurant and private members lounge in San Francisco that were linked to non-fungible tokens (NFTs). The venues were going to be located on Salesforce Park and accessible only to holders of the Sho Club NFTs. Despite strong demand, the company faced challenges due to rising construction costs and concerns from potential investors. In other NFT news, Rumble Kong League has partnered with NBA star Paul George and Stance to release limited edition HyperSocks featuring cartoon gorilla avatars.

OnChainMonkey is shifting its collection from Ethereum to Bitcoin, while Base network's "Onchain Summer" promotion resulted in over 700,000 NFTs minted by unique wallets. A magazine feature showcases the gothic VR dreamscapes of NFT collector Giant Swan on OpenSea. Meanwhile, Binance NFT will wind down support for Polygon-based NFTs and Reddit has launched NFL-themed NFT avatar collectibles for all 32 teams.

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