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🖼 Yue Minjun to Release Laughing Head NFTs
Chinese political pop artist Yue Minjun will bring his trademark laughing figures to the digital realm for the first time with the collection Kingdom of the Laughing Man. 'I've explored numerous media with my art over the years,' Yue said in a statement. 'This new digital frontier excites me the most as I can bring my art to life in a way that I haven't been able to with physical media.' . Alongside Fang Lijun and Liu Wei, both of whom have previously produced NFTs of their own. The Kingdom of the Laughing Man collection will launch with 'Boundless', a series of 1,200 unique NFTs in the PFP (Profile Picture) format made popular by Cryptopunks and the Bored Ape Yacht Club. Presented in collaboration with Los Angeles based iv gallery, the first drop from Yue's collection will take place on 8 August on the LiveArt platform. Prices for art-related NFTs peaked in 2021, and total sales fell from $2.9 billion in 2021 to $1.5 billion in 2022 according to The Art Market Report 2023. Museums including LACMA and Centre Pompidou acquired NFTs in 2023, while American sculptor Maya Lin minted her first NFT works in March.
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🖼 Monthly NFT sales fell for fifth consecutive month to $495M in July
The NFT space isn’t doing too well right now. Although it seems like there’s a new project being launched every week, there’s less and less money being spent in the space. In July, NFT sales totaled $495.6 million, down 23% from $646.1 million in June, according to data from NFT aggregator CryptoSlam. This marks the fifth consecutive month of NFT sales falling since February, when the sector saw sales hit $1.2 billion. July recorded the lowest level since April 2021, which saw sales at $339.4 million, a few months before the NFT boom began in July 2021. Today’s decline could be attributed to a number of factors, like consumers buying NFTs for less — the average sale in July was just $47, meaning fewer people are interested in “blue-chip” NFTs. It’s worth noting that transaction levels have remained high in the past couple of months — June had about 10.8 million transactions and July had about 10.4 million, the highest levels since February 2022. The decline in sales doesn’t necessarily mean NFTs are going bye-bye. Instead, it points to the growing prevalence of low-barrier NFT sales and the space becoming more accessible to general audiences, who may not want to spend a lot on NFTs right away. In the past 30 days, the top three blockchains to sell the most NFTs were Ethereum at $293 million, Bitcoin at $56.2 million and Solana at $35 million, per CryptoSlam data
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🖼 Google Play's new policy invites NFT integration into apps
Google Play made a groundbreaking policy change recently, giving developers the green light to incorporate digital assets, including Non-Fungible Tokens (NFTs), into their apps and games. The announcement marks a significant step towards embracing blockchain technology and opens up new possibilities for the web3 gaming ecosystem. On July 12, Google Play's Group Support Manager Joseph Mills announced the policy change, which comes as a paradigm shift for traditional gamers. The integration of NFT-backed assets allows players to truly own their in-game items, providing them with the power to monetise their gaming skills and time through play-to-earn models. “These new guidelines were developed in close consultation with app and game developers,” Mills said. Shubham Gupta, co-founder and CPO at Indian web3 fan engagement platform STAN, highlights the benefits of P2E gaming models that Google Play would now help democratise. “Investing time and energy in a game is now rewarding with the play to earn gaming models, which allows users to earn a sustainable income through gaming directly, and also indirectly through content creation, flipping assets and investing right.”
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🖼 NFT gas usage shows downward trend, signals shift in landscape
Ethereum gas consumption by nonfungible tokens (NFTs) has dropped significantly since its high in 2021. NFT marketplaces and projects that occupied top spots in gas consumption at the time have declined sharply in the past two years. Data shared by the on-chain analytics platform Glassnode shows that gas usage by NFT marketplaces is currently on a downward trend. This indicates a possible shift in terms of NFT use, where more users may be opting to hold on to their assets instead of trading them on marketplaces. In 2021, NFTs were leading the charts in terms of Ethereum gas usage, according to blockchain explorer Etherscan. On Aug. 4, 2021, NFT gaming project Axie Infinity placed second in terms of gas usage due to its Ronin bridge, which transfers assets from Ethereum to the Ronin blockchain. On the same day, NFT marketplace OpenSea was in fourth spot on the list. However, jumping forward to 2023, crypto analytics platform Nansen revealed that NFT marketplaces only accounted for just over 3% of the entire gas consumption in a weekly period in May. This happened amid a surge in Ether gas prices at the time and sparked theories that NFTs were only a “product of excess liquidity” due to money printing during the pandemic.
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🖼 Gaming Giant Bandai Namco Launches AI Virtual Pet NFT Game
Major video game creator Bandai Namco has teamed up with Oasys, a gaming-centric blockchain network, to create an AI-powered virtual pet game around a series of NFT-based digital creatures known as RYU. Developed by Bandai Namco Research alongside Japanese startup Attructure, and published by Double Jump.Tokyo, the RYUZO game launched Wednesday. In advance of the release, 10,000 digital NFT eggs (or MARYU) were airdropped to holders of Oasys’ first series of NFTs in the “Oasyx” project. Upon hatching, the RYU will then transform into a soulbound token, a type of token that is locked to its original wallet and cannot be transferred or sold. Similar in approach to the classic Tamagotchi virtual pet game, the RYU will develop a personality and unlock different abilities based on user engagement. It can be fed and raced, too. According to Oasys, the creatures learn new capabilities thanks to artificial intelligence, delivering a potentially more advanced virtual pet experience than past efforts. Players will also be able to create further generations of MARYU within the application. As it stands, the nurturing phase of the game experience is scheduled to end in a year's time, but the creatures will remain active beyond that.
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🖼 GameStop Is Killing Its NFT Wallet and Blames ‘Regulatory Uncertainty’
GameStop cited the “regulatory uncertainty of the crypto space” for the move—an increasingly familiar explanation for the drawdown or cancelation of a digital assets initiative. The news was revealed today via a pop-up message on its own NFT marketplace. Support for the wallet—via both a Chrome web browser extension and iOS mobile app—will cease on November 1. The retailer advises users to ensure that they’ve backed up their wallet’s secret passphrase by October 1, ahead of the shutdown. The wallet was originally launched in May 2022. GameStop’s message alludes to recent developments in the crypto industry, particularly an increase in enforcement actions by the United States Securities and Exchange Commission (SEC) under the leadership of Chair Gary Gensler. The SEC has filed suit against major exchanges Coinbase and Binance in recent months, along with other companies and projects. GameStop’s latest move comes almost two months after the firm fired CEO Matt Furlong, who had served in the role during the launch of the wallet and marketplace, as well as the firm’s partnership with Ethereum scaling network Immutable X. That deal included a $100 million incentives fund for developers building on the network.
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🔫 Web3 Leader Yuga Labs Strengthens Metaverse Position With Roar Acquisition
Yuga Labs, a prominent leader in the web3 space and known for pioneering projects like Bored Ape Yacht Club (BAYC), CryptoPunks, and Meebits, has announced a strategic acquisition that further solidifies its position in the evolving metaverse landscape. The star attraction of Roar Studios is its brainchild, ROAR, an immersive media experience that redefines how artists and fans interact in the metaverse. With real-time connectivity, collaboration, and competition from any location, ROAR has carved a niche for itself in the world of experiential multimedia. As Yuga Labs ambitiously develops Otherside, its innovative and interoperable metaverse, the acquisition of Roar Studios brings onboard a team of visionary tech pioneers. They will lend their expertise, specialized knowledge, and leadership to help enhance Yuga’s metaverse strategy and revolutionize content creation and social interactions within the virtual world. Following the acquisition, Eric Reid, Founder and CEO of Roar Studios, is slated to lead Otherside as its CEO, leveraging his two-decade-long experience in building teams and curating film, television, and music content. Reid’s vast expertise will complement Yuga’s experienced executive team as they strive to shape Otherside into an innovative, user-centric platform.
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🖼 Hurley Drops NFT Digital Collectibles and new Super Surfer™ Game
HURLEYVERSE™, When it comes to virtual creations and web3, the iconic action sports brand Hurley knows there's an ocean of possibilities. Which is why they're so stoked to announce the Hurley Super Surfer™ Game and the Hurleyverse™ at large, a cutting edge way for the brand to merge gaming and the exciting world of blockchain technology — all while staying true to their surf DNA. Dropping August 30th Hurley gaming fans can up their gameplay (and street cred) with Hurley NFT digital collectible players; surf-ready sloths inspired by the sport's greatest athletes. Available for purchase on Jump.Trade, these collectible sloth surfer avatars can be used in the Hurley Super Surfer™ Game and come with built in performance advantages and exclusive Hurley styles. Plus you can claim a coveted Hurley hoodie. The Hurley NFTs Pre-booking opens on August 1st here Hurley Digital Collectibles. NFT avatar or not, all are welcome to drop in, dodge sea monsters, and collect Hurley Sand Dollars as they ride waves of varying degree of skill level when the Hurley Super Surfer™ game becomes available for download on Google Play and the App Store on August 30th.
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🖼 Starbucks Embarks on a New NFT Journey with 'Green Apron' Drop
Starbucks is set to launch its latest non-fungible token (NFT) collection, named "Green Apron." As per reports, this digital collection pays homage to the evolution of Starbucks' iconic apron, from its original Pike Place design to the now-familiar Siren apron. The series also serves as a tribute to the dedicated employees who have served for over 50 years. The collection will launch on August 1, 2023, on the Nifty Gateway NFT marketplace. Curious buyers will be reportedly treated to a delightful surprise on August 3, 2023, when Starbucks unveils the stunning NFT designs. The upcoming "Green Apron" NFT drop marks Starbucks' fifth venture within its Web3 program, Starbucks Odyssey. Each drop in this series holds a distinctive element that embodies the essence of Starbucks. Starbucks has already experienced success with previous NFT collections. "The Siren Collection" was a hit, featuring the iconic siren emblem, and sold out within an astonishing 20 minutes. " The First Store" celebrated the opening of Starbucks' first store at Seattle's Pike Place Market in 1971. Polygon is a “layer two” or “sidechain” scaling solution that runs alongside the Ethereum blockchain.
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🖼 Reddit launches fourth generation of NFT collectible avatars
Twitter’s rebranding to X and Zuckerberg’s Threads have been the talk of the town for crypto enthusiasts for days now, but now the attention shifts to Reddit. The social media platform in question has come out with the latest generation of its NFT Collectible Avatars, reimagining the iconic ‘Snoo’ character associated with Reddit. Appropriately titled “Retro Reimagined”, The collection is reportedly meant to infuse collectors with "warm, fuzzy feelings of nostalgia”. The NFT collection was launched on July 26, 2023 at 3 pm EST, as per an official announcement made on r/CollectibleAvatars. Notably, Retro Reimagined makes for the fourth generation of the collectible avatars launched by Reddit, with the first having been launched in July 2022. The launch came once again on the Polygon blockchain, and the NFTs are available for decentralised trading as well as third-party sales. To fortify this latest collection of Reddit NFTs and ensure user safety, the developers are taking anti-bot measures like CAPTCHA. Further, Reddit also integrated a limit on spending, and specified an “initial access” period on the day of the launch to limit the number of NFTs a user can purchase at once.
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🪙 Ordinals Reach 20 Million Milestone, But Bitcoin-Based NFT Sales Slide
On July 28, 2023, the tally of Ordinal inscriptions achieved a significant milestone, exceeding 20 million. These Bitcoin Ordinals, digital asset inscriptions within the Bitcoin blockchain, enable users to affix information to individual satoshis, the smallest fraction of BTC. Pioneered by Casey Rodarmor and facilitated by Bitcoin’s Taproot upgrade, this technology catapulted the blockchain into prominence. As the numbers swelled into the millions, Bitcoin Ordinal inscriptions contributed to making the blockchain the second-largest in weekly NFT sales, time and time again. The week from July 22 to July 29, 2023, however, painted a different picture. Bitcoin-centric NFT sales slumped by 35.22%, as per the statistics on cryptoslam.io. Data revealed that Bitcoin-based NFT sales amounted to $4.54 million during the past seven days, relegating the blockchain to a seventh-place position, below Polygon. Meanwhile, Solana (SOL), with $6.61 million in NFT sales, clinched this past week’s second-place spot. Among the top 20 priciest sales, a mere two Ordinals secured positions in this week’s rankings. Data from Dune Analytics further illustrates a decline in volumes since mid-July concerning marketplaces engaged in Ordinal trades, including Okx, Unisat, Magic Eden, Gamma, Open Ordex, Ordinals Wallet, Ordswap, and Ordinals Market.
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♦️ Iconic Electronic Music Platform Beatport Launches NFT Marketplace on Polkadot
Beatport is finally making waves in Web3. The iconic music platform, a trusted resource for DJs and musicians to download music for their sets, is launching its newest marketplace called Beatport.io. Via a collaboration with design studio Define Creative, the music platform is launching on Aventus, a parachain built atop the Polkadot network. Beatport.io is adding techno elements to various NFT art drops. “‘Music+’ refers to drops on Beatport.io that are more than just music, they're cultural artifacts driven by the music creators," Hill told Decrypt. "Some of these projects may be more video-focused than musical," he added. "Beatport.io functions similarly to a marketplace like OpenSea where you can buy, sell and trade NFTs you own but with a very specific focus on electronic music.”. The collection ‘NACHTS’ portrays Berlin’s techno scene across 175 unique portraits, coupled with music composed using AI models, to create a work that was inspired by the city-wide shutdown during the pandemic.
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🔫 Meta Aims to Recharge Lagging Horizon Worlds Metaverse With New In-House Game Studio
Meta is revamping its Horizon Worlds metaverse platform with a new in-house VR game studio called Ouro Interactive. The struggling platform reported losses of $3.7 billion in the second quarter of 2023; consumer interest in the metaverse appears to be cooling. Meta is working to reboot its lagging Horizon Worlds platform through a new in-house VR game studio, in a bid to help the platform recoup major losses and revive waning interest in its metaverse among consumers. According to Shah, the platform is also hoping to better target the estimated billions of mobile gamers worldwide by bringing Horizon Worlds to app stores, though it's unclear when it plans to do that. By integrating cross-platform play, Shah told Lowpass that the mobile version is meant to act as a bridge for those who don't own a VR headset, shifting the platform further away from being "VR only to a place where we're going to be VR first." Over the last year, Horizon Worlds has focused its efforts on supporting more complex games and the ability for developers to import assets from using third-party tools. It is also investing in generative AI tools to make it easier for users to build in its world without the knowledge of professional 3D rendering tools.
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🖼 CryptoPunks Toughness Tested As NFT Succumbs To 60% Drop In 1 Week
Non-fungible tokens continue to play a significant role in developing the Web3 ecosystem, despite the enthusiasm around them having subsided since its peak in 2021. Unquestionably, these distinctive digital assets have been a significant force behind the NFT transformations that have taken place. Despite the wide variety of NFT collections and their accomplishments, it is crucial to recognize that some particular ones have recently been severely affected by market pressures and are now beginning to fall from their lofty positions. Consider the situation with CryptoPunks. CoinGecko discovered that of the top 11 “blue chip” NFT projects studied, CryptoPunks suffered the worst losses. Non-fungible tokens known as “blue chip NFTs” are regarded as highly precious and prestigious in digital assets. These NFTs are frequently linked to well-known and recognized producers or organizations, such as renowned artists, enduring businesses, or essential historical items. Alarming statistics currently facing CryptoPunks are raising questions among NFT enthusiasts. These formerly well-liked digital assets have recently encountered a worrying situation, sparking disputes and disagreements among investors and fans.
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🖼 Cloaked in mystery, Kevin Rose’s Proof releases latest season of Grails NFTs
Proof Collective, the NFT studio behind Moonbirds and run by CEO Kevin Rose, is unveiling a fourth season of Grails, a series of artistic non-fungible tokens. With this installment the company is trying to create additional intrigue by keeping the names of the artists initially secret. “Grails IV features artworks from 20 artists whose identities will stay hidden until after collectors have minted their works,” Proof said in a statement. Despite trading and pricing for NFTs having fallen off a cliff since crypto's latest bull run, Proof aims to “ further the digital art renaissance” according to Eli Scheinman, Proof’s curator of this latest season of Grails. Backed by top crypto VC a16z, Proof also recently expanded on its existing PFP brand Moonbirds with the release of a 20,000-strong collection of NFTs called Mythics. The minting process for Mythic will unfurl during at least 200 days. Unlike PFPs such as Moonbirds — or the popular Bored Ape Yacht Club and CryptoPunks collections — the Grails collection is presented as fine art and has featured work from well-known web3 artists like Tyler Hobbs, Larva Labs and Refik Anadol.
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🖼 R/GA Launches First-of-Its-Kind WEB3 and NFT Experience for Toyota Australia
GR-ID is a beta Web3 and NFT program designed to reward eligible GR Yaris Rallye owners. Each GR-ID NFT features a unique set of traits that echo the spirit and energy of the GR Yaris Rallye, an iconic hot hatch born from World Rally Cars (WRC). A limited collection of unique NFTs were created, ready to be minted on the blockchain and gifted to members for free, unlocking a range of rewards. Opening up a new avenue for ongoing engagement to drive loyalty, GR-ID also includes the rare opportunity to ‘evolve’ the NFT’s. The beta project had over 25% of available NFTs minted in the first week, with all 20 helmets quickly snapped up by their lucky owners. One third of eligible owners have engaged with the program to date. R/GA worked closely with Toyota Australia to develop the customer experience strategy and led the brand and web design for the project, following the successful launch of GAZOO RACING CLUB membership program for Toyota in 2021. Rotor handled NFT asset production, while Moonshot led Web3 strategy, website development and blockchain integration. Michael Titshall, CEO, Australia, R/GA, said, “If brands are going to continue to generate loyalty from their customers, they need to adapt to new behaviours and opportunities. Toyota is constantly looking for innovative ways to engage with their communities.
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🪙 Ethereum NFT Royalties Cross The 699,816 ETH Mark
The world of Non-Fungible Tokens (NFTs) has taken the crypto market by storm, with eye-catching sales and high-profile celebrity purchases making headlines. However, there is another critical aspect of the NFT ecosystem that has been steadily gaining momentum and shaping the future of this revolutionary space: royalties. Recent reports show that royalties paid to NFT projects on the Ethereum blockchain have surpassed an impressive milestone, crossing the 699,816 ETH mark. Borroe NFT Marketplace stands out with a unique approach that has captured the attention of both artists and collectors alike. Borroe NFT Marketplace recognizes the value of creators and artists, and its platform ensures that artists receive royalties on every secondary sale of their NFTs. This commitment to ongoing compensation aligns with the growing trend of rewarding creators for their contributions and encourages a more sustainable and equitable NFT ecosystem. The platform leverages cutting-edge AI-powered risk assessment, ensuring secure and transparent transactions for buyers and sellers. This provides an added layer of confidence for participants in the Borroe NFT Marketplace, fostering a trustworthy environment for NFT trading.
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🖼 Despite Name Brand NFT Deals, Nifty's Shuts Down
A social network turned Web3 creators portal that managed to work with some of the biggest names in entertainment announced that it was shutting down today. Nifty's was backed by preeminent businessmen Mark Cuban and Joe Lubin in 2021 with a $10 million raise that included investors like Coinbase Ventures and Dapper Labs. Thanks to a deal with entertainment giant Warner Bros., Nifty's came out of the gate offering NFTs based on the 1996 film "Space Jam," featuring sports stars like LeBron James and various Looney Tunes characters, to promote a 2021 sequel. The platform—which has no connection to the Gemini-owned Nifty Gateway marketplace—continued to release NFTs featuring immensely popular franchises, including "The Matrix" and "Game of Thrones"—the latter of which was soundly mocked for poor designs. But with its "limited resources in a difficult market," Nifty's "pivoted to developing a platform for Web3 creators," according to a company update posted to Twitter. "Since then, we’ve been heads down building our new product and working on opportunities to access the capital required to keep building," the company explained. In May, the company announced that it was shutting down its website to make way for its new platform, which would use decentralized storage. Nifty's also moved many of its digital assets to the Polygon blockchain, which it noted would be compatible with popular NFT marketplaces like OpenSea.
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💀 ApeCoin Price Sinks to All-Time Low as Bored Ape NFTs Dip Again
ApeCoin, the Ethereum-based token set to power Yuga Labs’ ambitious Otherside metaverse game and other apps, slipped to an all-time low on Tuesday as the firm’s “blue chip” Bored Ape Yacht Club NFT collection faced renewed pressure as well. Known for its link to the valuable Bored Ape profile pictures (PFPs), ApeCoin fell as low as $1.77 late Monday and into early Tuesday, according to CoinGecko. As of this writing, the token had rebounded to $1.84—but it was still down 1% over the past day and 9% during the last week. The meteoric rise of Bored Apes Yacht Club NFTs in 2021 and 2022 established its 10,000 simian-centered collectibles as icons of Web3 for mainstream audiences. But as the market for PFPs falters more broadly, assets associated with Yuga Labs’ smash hit appear to be falling back to earth. ApeCoin hit the market in March 2022 at a price of $8.54 and surged as high as $26.70 the following month. Bored Apes also reached a peak minimum price of 152 ETH or $429,000 in April 2022 as Yuga’s Otherside game prepared to launch NFT-based land plots that will let players customize their own spaces in the online world. The newfound low for ApeCoin represents a more than 93% decline from its all-time high.
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🖼 TRUE Announces Strategic Investment Round to Scale NFT Engagement Tools for Brands
TRUE, a leading platform providing white-label NFT solutions and engagement tools for Web2 businesses, initiates the launch of its strategic investment round. With positive signals from the crypto market indicating an opportune time for investments in emerging markets, TRUE's infrastructure and products are ready for rapid scaling and promotion. Having successfully closed its pre-seed and seed rounds, TRUE has evolved from a startup into a stable and thriving business, poised to embark on this confident strategic round. TRUE firmly believes that NFT utility is the unrivalled engagement solution for traditional Web2 companies in the crypto space. As more companies recognize the transformative power of NFT technology, it becomes increasingly clear that there is no alternative in the crypto world for engaging with the audience on a deeper level. As the company prepares for the launch of its native token, it is also proud to announce its partnerships with a top-tier market maker that operates with major exchanges, further solidifying its position in the market. This strategic round will enable TRUE to further expand its offerings and broaden its reach, delivering innovative NFT solutions to a diverse range of industries.
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🖼 NFT Now Announces Job Cuts Amidst Cooling NFT Market
NFT Now, a renowned web3 digital media platform leading the charge in tokenized media, has made a significant announcement regarding job cuts amidst a notable downturn in demand for digital collectibles. The company’s president, Alejandro Navia, took to Twitter (X) to share the news, explaining that they had expanded too rapidly during the bullish market phase, necessitating a reduction in staff. NFT sector has cooled off considerably compared to the peak demand it experienced during the pandemic era, primarily due to reduced liquidity injections. The concept of web3 media or tokenized media publications aims to address the challenges faced by web2 media firms by capitalizing on NFTs to build a strong community around their content creation. NFT Now is currently on a mission to empower cultural makers and encourage the widespread use of NFTs and web3. In a notable achievement, the media company launched its Now Pass token in March, which rapidly sold out at 0.25 ETH per token, generating an impressive $1.1 million in total revenue. NFT Now isn’t the only company in the industry facing difficulties in the current market conditions. Various firms are grappling with falling revenues and struggling to find ways to sustain their resources and survival.
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🖼 NFT Sales Fall 30% In July
The global non-fungible token market has recently crashed after the initial hype that followed its rise in popularity. In the past few weeks, most NFTs have fallen sharply in their floor price value, leading some investors to question their long-term viability. The NFT market started spiraling downward in the past few weeks, leaving many projects in massive losses. Data compiled by CryptoSlam.io, an on-chain data aggregator, shows that the once-booming non-fungible token market is down by nearly every traceable metric. During this period, non-fungible token hosted on the Ethereum blockchain has been the most traded NFTs, recording a trading sales volume of $315 million. Ethereum NFTs have dropped 21% in trading sales volume from the past month. Non-fungible token collections pegged on the flagship crypto “Bitcoin” has been the second most traded NFT collections this month. In the past 30 days, Bitcoin ordinals have attracted a trading sales volume of $63 million. This figure translates to a 48% drop from the past month. Non-fungible token hosted on BNB Chain, a community-driven, decentralized, and censorship-resistant blockchain from renowned crypto exchange “Binance,” takes fifth place this month. In the past 30 days, BNB Chain NFTs have recorded a sales volume of $23 million.
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🖼 Arcube partners with Etihad Airways to launch a new NFT collection and Etihad "Horizon Club".
EY-ZERO1 NFT collection in July 2022, Etihad Airways has extended its partnership with Arcube to add a new livery to its NFT collection, as well as development of an industry-first "Staking-for-miles" platform. The upcoming livery, will be themed after the partnership between Etihad Airways and Mission: Impossible Dead Reckoning Part One. The original EY-ZERO1 collection featured exclusive benefits to buyers, including Etihad Silver Tier status for 12 months. Impossible livery NFT, Etihad are providing even more benefits to the limited 300-piece issue. As before, members can enjoy 12-month Etihad Silver Tier promotion, which includes priority check-in, 25% extra Etihad Guest Miles, lounge access at Abu Dhabi International, and more. Additionally, buyers will be granted membership to the Etihad: Virtual Club, which provides an additional 10% extra miles, a fast-track promotion from Silver to Gold Tier for 6 months, and a customised Etihad membership card for online and app use. Holders will also receive added benefits with the Etihad "Staking-for-miles" programme, branded the Etihad "Horizon Club".
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🖼 Gucci Reveals Rewards for Vault Material NFT Holders
Holders of the Gucci Material NFTs can now exchange the tokens for a Gucci bifold wallet or a Gucci x 10KTF co-branded duffle bag. The reveal follows months of speculation about the planned utility behind the 2,896 NFTs minted in March. The Kering owned brand went live this week with a redeem facility on partner platform 10KTF.shop. One Gucci Vault Material NFT can be redeemed for the wallet, while you need three tokens to redeem the duffle. The copywriting team provided a tongue-in-cheek write-up where the duffle is dubbed “baggage you’ll want to carry,” and the wallet described as one that does not require a seed phrase. A quick calculation shows that the bag that might be considered the better deal for Gucci fans and collectors. An identical looking wallet on the Gucci e-commerce site costs $460 while a similar version of the bag—albeit minus the 10KTF logo— retails for $1790. On Opensea, the Material NFT is going for 0.22ETH the equivalent of around $412. Since the bag is also co-branded with 10KFT, it’s also got that ‘money can’t buy’ rarity value.
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🖼 Starbucks NFT ‘Green Apron’ Collection Launching Aug 1st
Starbucks is all set to make a groundbreaking foray into the world of Non-Fungible Tokens (NFTs) with the launch of its highly anticipated “Green Apron” NFT product line. The collection will be available on the renowned NFT marketplace, Nifty Gateway, starting from August 1st, and will fulfill the conditions at 11:00 pm on August 1. This move marks a significant step for Starbucks in embracing the digital revolution and catering to its diverse community of coffee enthusiasts and collectors. Starbucks enthusiasts and NFT enthusiasts alike are in for a treat, as the “Green Apron” NFT collection will be offered in two exclusive phases. The first phase, known as “The Odyssey,” is reserved exclusively for Starbucks members. This early access phase begins at 12:00 PM on August 1st, giving Starbucks loyalists an opportunity to secure their favorite NFTs from the collection before the public release. The “Green Apron” NFT collection will consist of a limited edition of 5,000 NFTs, making each piece a rare and coveted digital asset. The collection will be based on the Polygon blockchain, known for its scalability and low transaction fees, ensuring a smooth and cost-effective NFT experience for buyers.
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🪙 Ducati Partners With Ripple-Founded XRP Ledger for its First NFT Collection
Italian motorcycle manufacturer Ducati partnered with XRP Ledger to enter the Web3 space. The main goal is to launch its first-ever digital collectible, which is a video sequence of all the Ducati logos that have appeared on the tanks of motorbikes produced in Borgo Panigale from 1946 to the present day. Users are required to sign up within seven days of the release date. Following the traditional route of NFT drops, Ducati announced that those who get the first collectible will have access to subsequent projects. According to the blog post, upcoming projects by the motorcycle manufacturing giant will be deployed using Ripple, which is tasked with providing technical support on the fast, low-cost, and carbon-neutral XRP Ledger (XRPL) blockchain. Ducati plans to develop a series of Web3 activities over the next few months through the creation of new digital aggregation spaces, NFT collections, and other opportunities. The company said the move represents the “natural evolution of its digital strategy.”. For the initiative, Ducati has also teamed up with Web3 Pro, which had previously worked with its parent company, Lamborghini, for brand engagement on an NFT collection called “The Epic Road Trip.”
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🖼 Reddit Returns With New NFTs and Crypto Twitter Leaves Threads on Read
Reddit has released its latest NFT avatar collection aimed at inspiring "warm, fuzzy feelings of nostalgia” among collectors, while Amazon added new blockchain tools to its Amazon Web Services cloud platform as it continues its Web3 expansion. Also, we chatted with Web3 influencers to suss out if the crypto degens are ready to migrate from Twitter to Meta’s Threads or another decentralized social media platform. The Airdrop, our weekly newsletter where we discuss the biggest stories across Web3. Reddit released its Gen 4 Collectible Avatar series, bringing a new batch of colorful collectibles to its NFT shop reimagining the platform’s iconic "Snoo" character. Titled “Retro Reimagined,” the microblogging site says it is meant to inspire "warm, fuzzy feelings of nostalgia” and features designs from 100 independent artists and popular NFT collections like Cool Cats. Previous releases have not been entirely smooth, so this time around, the Reddit team implemented anti-bot measures like CAPTCHA to create a better user experience. In addition, the platform introduced spend limits and launched an “initial access” period on the first day to limit the number of NFTs a user could sweep in one go. Still, it wasn’t a perfect launch.
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🖼 Collectors Snap Up Vera Molnár’s Generative NFTs
On July 26, generative art pioneer Vera Molnár released an NFT collection called “Themes and Variations” in collaboration with Martin Grasser, the creator of Twitter’s iconic blue bird logo, on Sotheby’s Metaverse digital art platform. Originally minted at 1.23 ETH ($2,300), the project has taken off on secondary markets with numerous sales on OpenSea at 10 ETH ($18,750) and the highest sale recorded at 17.99 ETH ($33,700). The collection’s floor price sits at around 5 ETH. The project’s momentum suggests that despite a widespread downturn, some bright spots could be emerging in the NFT market. The collection of 500 NFTs features generative art with geometric imagery featuring either an N, F, or T, in a nod to the three letters symbolizing the tech trend that altered the perception of computer-generated art. With an art career that began in 1942 at the Budapest College of Fine Arts, Molnár gained widespread recognition with her continued in-depth exploration of the dynamic relationships between form and geometry with hand-drawn algorithmically generated patterns in her 1960s collection “Machine Imaginaire,” or imaginary computer. Her work is considered to be foundational to the world of algorithmic art.
NFTs | DeFi | News
🖼 ParaSpace Boosts New Support For NFT Lending With zkSync Integration
ParaSpace, the decentralized NFT lending protocol, has exciting news for its users. The platform has announced the upcoming launch of the zkSync network, a move aimed at further enhancing its capabilities and user experience. In addition to the zkSync network launch, ParaSpace has implemented four vital features, namely “Supply,” “Withdraw,” “Borrow,” and “Repay.” These features are designed to bolster the overall experience on the platform, providing users with more flexibility and control over their assets. As a fully decentralized and permissionless protocol built on the Ethereum blockchain, ParaSpace has already gained popularity for its support of a wide range of fungible tokens, including BTC, ETH, DAI, USDC, and APE, along with various blue chip NFT collections. Furthermore, the platform has ambitious plans to promote capital efficiency across the crypto space by enabling cross-chain lending and borrowing for EVM-compatible or equivalent blockchains in the future. Recently, ParaSpace also demonstrated its commitment to its users by addressing and rectifying an issue related to asset liquidations that occurred between July 3 and July 4. The platform took prompt action and reimbursed the affected users for the price difference resulting from the liquidations.
NFTs | DeFi | News
🖼 Lacoste Unveils Exclusive Ethereum-Based Virtual Store For NFT Holders
Fashion brand Lacoste has unveiled an exclusive Ethereum-based virtual store for NFT holders as the brand aims to give its NFT holders an immersive experience for the summer. The virtual store, created by retail technology developer Emperia, will integrate the traditional retail experience with digital innovations exclusive to users holding Lacoste’s UNDW3 NFT passes. Lacoste’s UNDW3 NFT holders will have exclusive access to the virtual store. UNDW3 is an NFT-based loyalty program the French brand released in June (similar to that of Starbucks). Holders will access the virtual store through Lacoste’s e-commerce platform. The digital store gives an immersive experience right from the beginning; Shoppers enter through Lacoste’s iconic crocodile, which will lead them to a tiled boutique. These shoppers also get to enjoy the beach view in the digital store from its outdoor pool area. Lacoste’s summer apparel collection will also be on display throughout the experience, and visitors can make a purchase at any time. There is also a crocodile-themed scavenger hunt game these shoppers can participate in. Additionally, there is an exclusive underwater VIP space that only UNDW3 holders can access.
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