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📣 Brave launches automatic NFT pinning
As per recent reports, Brave has launched automatic NFT pinning, allowing users to safely store the metadata of NFTs in Brave’s Wallet. The objective is to provide security to the data and easy access to FVM on top of Filecoin EVM. The original launch dates back to May 02, 2023, when the update actually came to light, citing that the goal is to support the adoption and development of a decentralized web across the globe. Brave registered over 57 million users in the early days of May 2023. To clarify, pinning here refers to informing IPFS (Interplanetary File System) about indefinitely storing the metadata in a specific location. The file remains available at the convenience of the user. The whole point is to spread even the risk of losing data by storing them at multiple locations. Therefore, improving the resiliency for the long term. Brian Bondy, the Co-Founder & Chief Technological Officer at Brave, highlighted in the previous announcement that the development lets a user access the feature with just a few clicks to ensure that the information is available continuously within its framework. Users do not need to have any knowledge about the mechanism.
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🖼 EA is doing some vague nonsense on Nike's NFT platform
Nike, never one to pass up a cynical corporate cash-in, obviously made its own "web3" platform last year, debuting the .Swoosh "digital community experience" in November and selling a bunch of boxes of randomized virtual shoes in its beta period. "Build your collection," it advertises, "Display, trade, or wear your Nike Virtual Creations in video games and immersive experiences.". Now one of gaming's very own cynical corporate cash-grabbers, Electronic Arts, is getting in on the "immersive experiences". "In future EA Sports titles, EA Sports and Nike plan to make select .Swoosh virtual creations available allowing members and players unique new opportunities for self-expression and creativity through sport and style," it said. My guess is that means you'll get to have your little custom players wear the virtual sneaker designs you bought on Nike's marketplace? They're not very clear, here. The quotes in the press release do a lot of bloviating about "incredible new experiences" and a "commitment to innovation" and "creativity" that's for "fans" and they use the word partnership a lot. Is this NFT and Web3 buzzword bait for investors because both companies want to be seen as innovators, which is also a buzzword? That's my hypothesis.
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📣 Apple's AR Headset Will Supercharge Gaming and the Metaverse
While many believe that the metaverse will exist exclusively in the virtual domain, the more likely outcome is that it will bleed into our everyday lives through the power of augmented reality (AR), making digital content omnipresent around us in a “mixed reality” setting. That’s exactly the promise of technologies like Apple’s upcoming mixed-reality headset, which is widely rumored to launch on Monday at the annual WWDC conference. Apple has a knack for taking emerging technologies and making them polished and accessible enough for the masses, and its headset could do much the same for AR. Such platforms will be a key catalyst that amplifies the metaverse and blockchain-powered gaming via novel experiences integrated into everyday life. From sporting events and shopping centers to restaurants and entertainment venues, mixed reality introduces an interactive element that blends IRL (in real life) and IVL (in virtual life). Here are the key opportunities I see ahead, along with what the continual development of AR brings to the metaverse—and why it is such an exciting shift across all interactive media.
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🔫 Neal Stephenson's Lamina1 Is Fighting for an Open Metaverse
Neal Stephenson and his team at crypto startup Lamina1 (L1) are convinced that blockchain can help bring it into fruition—and that a certain social media giant co-opted the concept of a metaverse without understanding its true meaning and intent. Lamina 1 is a layer-one blockchain protocol co-founded by Stephenson, the author who has been widely credited as the originator of the term “metaverse” via his seminal 1992 novel Snow Crash. Lamina 1 CEO Rebecca Barkin, who previously was an executive at augmented reality startup Magic Leap, shared L1’s vision for building an open metaverse leveraging crypto—and how video games deeply inspired Stephenson’s metaverse vision. Barkin explained that Stephenson and L1 want to create an open, high-fidelity metaverse—so forget floating cartoon characters without legs and “walled garden” games that don’t allow users to take their assets with them to other virtual spaces. Barkin said that Lamina1—which is preparing to launch its mainnet this summer—also takes issue with Meta’s approach to “the metaverse” and VR.
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📣 Nike and Electronic Sports NFT Deal Goes Strong to Boost “Virtual Creations” in the Latter’s Game Titles
Nike has collaborated with EA Sports to bring out some exciting sneaker projects for their games. For quite some time, the Web3 space has seen a sharp decline in the markets because NFT projects have failed despite the involvement of celebrities and superstars. In other words, NFTs after the Crypto Punks project were never really up to the mark, so fans questioned the hype. And soon, the market dropped, making new lows and pushing investors to lose billions. Amidst that, many companies tried their luck with NFTs as well. Some popular names included H&M and Nike who inaugurated their virtual marketplace. For Nike, it was the name Swoosh under which they launched the NFTs sneaker collection for fans. And now, exactly two years later, they are set to partner with EA Sports to expand the NFT business across the Esports world. On June 1, 2023, EA Sports announced their massive partnership with Nike. They claimed the billion-dollar brand to bring their virtual excellence to the games, let alone allow fans to own exclusive items. However, EA did not reveal the name of the games that would feature Nike’s items, so that’s a whole new mystery.
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🖼 Trip.com Incubates First NFT "Trekki", Bridging the Web3 Universe with the World of Travel
Trip.com has made history as the first global travel service provider to delve into the world of non-fungible tokens (NFTs), incubating its first collection, "Trekki". The Trekki collection consists of 10,000 NFTs themed around a dolphin cartoon, now open for registration on Trekki's official website, and will be sold via blind boxes in Q3 of 2023. Trekki is categorised according to its scarcity, with each NFT possessing a distinct persona and various travel backgrounds. With the goal of connecting the Web3 nomads with the world of travel, Trekki allows travel enthusiasts who value unique experiences and digital collectables to enjoy various benefits on Trip.com. The new NFT also carries a unique gamified growth mechanism - the more a Trekki holder travels, the more benefits the holder can unlock through Trekki. Trekki represents Trip.com's inaugural foray into Web3 and marks its entry as one of the first global travel service providers to explore the NFT market. The NFT project is also seeking collaborations with successful Web3 players and tourism partners to offer greater benefits to holders and foster a connection between the digital realm and real-life tourism experiences.
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🖼 BBF Limited (Baby Shark BubbleFong Friends) to Launch 2nd NFT Collection on Binance NFT Marketplace
BBF Limited, the operating corporation of the game 'Baby Shark BubbleFong Friends', has announced June 2nd that it will be launching its second 'Baby Shark BubbleFong Friends' NFT collection on Binance NFT, the premier marketplace for NFTs created by Binance, the world's leading cryptocurrency exchange, on 5th to 8th of June. 'Baby Shark BubbleFong Friends' is published by KOSDAQ-Listed CityLabs and developed by Haru Entertainment, and the game's Partner Character NFTs. The first pre-sale on the Binance NFT marketplace was a complete success and sold out in less than 30 minutes. 'Baby Shark BubbleFong Friends' Main Character NFTs, which featured the world-renown Pinkfong Wonderstar characters, were sold during the first pre-sale. For the upcoming second pre-sale, 960 of the game's Partner Character NFTs, featuring the sensational Baby Shark characters, will be up for sale on the Binance NFT Marketplace. Those who are interested in the sale will need to register for an account on the Binance NFT marketplace and complete identity verification to be able to participate in the event. More information and details regarding the upcoming pre-sale will be announced on the official social media and community channels.
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🖼 ANA Group To Launch NFT Business
The group behind Japan's All Nippon Airways, ANA Group, has created a Non-Fungible Token (NFT) business. The owner of the largest airline in Japan launched the venture on May 30th through one of its subsidiaries, ANA NEO. A Non-Fungible Token is a unique digital identifier that is recorded on a blockchain, and used to certify authenticity and ownership. Until now, the technology has been mainly used in the fields of art and music. ANA NEO has also launched an NFT marketplace, named ANA GranWhale NFT MarketPlace, which it will use to begin sales of NFT products, as well as promote its virtual travel platform, ANA GranWhale. The development of ANA GranWhale began in August 2022, and today the platform makes use of virtual reality technology to recreate destinations around the world in the metaverse. The marketplace launched on May 30th with a total of 267 items for sale, including the first NFTs of the digital works of aviation photographer, Luke Ozawa. The price of each of Ozawa's NFTs is ¥100,000 ($717).
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⚡️ zaha hadid explores the future of architecture in the metaverse through metrotopia venture
METROTOPIA, a collaboration between Zaha Hadid Architects and Chicago-based ArchAgenda, has recently been unveiled as an extraordinary metaverse venture, aiming to serve as a virtual communication hub for the global design community. Marking its debut, the Metrotopia Metaverse introduced a virtual exhibition titled ‘Knowledge Transfer’ at the 2023 Venice Architecture Biennale. The exhibition showcases the latest creations from renowned architecture firms such as OMA, Morphosis, Coop Himmelb(l)au, UnStudio, MAD, Sou Fujimoto, Archi-Union, LAVA, CAP, EcoLogic Studio, and ZHA. This display immerses visitors in a digital realm where they can explore and engage with contemporary architectural designs. In alignment with the theme of the 18th Biennale, ‘The Laboratory of the Future’ curated by Lesley Lokko, the exhibition within Metrotopia emerges as an influential component of this event.
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⚡️ FC Barcelona launches its first NFT collection in association with Plastiks
Plastic waste is everywhere. It is found in the deepest ocean trenches and on top of the highest mountains. Eight million tons are dumped into the ocean every year, highlighting the need to improve the plastic economy and seek ways to promote a more responsible society in terms of waste and the impact it has on the preservation of the environment. FC Barcelona and Plastiks have joined forces in a partnership that will allow the recovery of at least 1,000,000 kilograms of plastic. FC Barcelona is one of the most followed teams in the world, with one of the largest communities on social networks of all sports teams. With more than 400 million followers on its different accounts, it is a leader in engagement in the global football industry. Hence the club is eager to empower its community with sustainability solutions based on Web 3.0, in this case with the aim of helping to reduce waste in the environment by combining Barça's NFT vision with a positive environmental impact. More than 8,000 kilograms of plastic waste are produced in a football match. With this first collection, FC Barcelona and Plastiks are contributing to a reduction in plastic pollution of an amount equivalent to the waste from 4 football matches.
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🖼 Sotheby's Second 3AC NFT Auction Includes Landmark Dmitri Cherniak Work
Sotheby's is set to auction off more non-fungible tokens (NFTs) seized from bankrupt crypto hedge fund Three Arrows Capital (3AC), bringing high-value NFTs like Dmitri Cherniak's Ringers #879 (often referred to as "The Goose") out from the vault for the first time since 2021. The second sale of 3AC collectibles from the "Grails" collection will be held in New York on June 15 and will feature 37 works from generative artists like Dmitri Cherniak, Tyler Hobbs, Jeff Davis and more. "For the live auction, we specifically wanted to focus on showcasing generative art, and the sale was curated to reflect not only the collection’s deep holdings of some of the most sought-after and renowned generative artists in the movement, but also to spotlight the wider community of artists pushing the boundaries of the algorithm-based art," Micahel Bouhanna, Sotheby's head of digital art and NFTs, told CoinDesk. NFTs include Cherniak’s Ringers #879, a seminal generative artwork that has become known as "The Goose" for its resemblance to the bird. The collectible was purchased by 3AC co-founders Su Zhu and Kyle Davies in August 2021 for about 1,800 ETH.
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📊 Popular NFT collections take massive price hit in 2023
Some of the most sought-after nonfungible tokens (NFTs) of 2022 have taken a massive hit in value over the past year. The trend mirrors the depreciating value of metaverse properties in 2023, which were considered top virtual lands for investment in 2022. Investments in top NFT projects, including Doodles, Invisible Friends, Moonbirds and Goblintown, have lost up to 95% of their value in Ether. The value of blue-chip NFT collections alone has fallen down by over 40% on average. Data from NFTGo shows that the Blue Chip Index went down to 7,446 ETH from its yearly high of 12,394 ETH back in July 2022. Surprisingly, NFT investors remain unfazed by the ongoing decline in value. While some expect further and prolonged depreciation of NFT prices, a handful of investors believe it’s the right time to invest, as they anticipate a comeback. On the contrary, the number of blue chip NFT holders over the past year has increased by more than 90%. During this time, sellers increased by 32% while buyers decreased by 30%. Despite the financial setbacks, the NFT ecosystem continues to draw the attention of new investors. On May 27, crypto skeptic Peter Schiff launched an NFT project on the Bitcoin blockchain via Ordinals.
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🇯🇵 Japan's largest airline launches NFT marketplace
On May 30, Air Nippon Airways (ANA), the largest airline in Japan, launched an aeronautical-themed nonfungible tokens (NFTs) marketplace with its subsidiary ANA Neo. Meanwhile, the second collection of NFTs will be released on June 7, representing the NFT image conversion of the first Boeing 787 operated by AMA. "Selling as a 3D model airplane. There are 787 items each of the two types, for a total of 1,574 items, and the price is 7,870 yen," ANA wrote. The platform is part of Air Nippon Airways' ongoing expansion into the intersection of airlines and Web3. ANA is Japan's largest airline, with revenues of $12.2 billion in its last fiscal year. The firm said it plans to increase the NFT product line in the future and aims to improve the value of customer experience through NFT commercialization. The development of ANA Neo's Gran Whale started last August as a virtual travel platform utilizing "technology, including VR, to recreate the destinations and cultures of the world" in the form of metaverse parks. "From May 30, aerial photographer Luke Ozawa's first digital photo will be converted to NFT.
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📣 NFT ART DAY ZRH returns to immerse visitors in the worlds of web3 & crypto art
NFT ART DAY ZRH (find more here) serves as a platform for building connections between the traditional art world and the emerging realm of NFTs. The event places a strong emphasis on exploring the intersection of art and NFTs, delving into the innovative possibilities offered by blockchain technology, examining the evolution of historical digital art, analyzing the performance of the digital art market, and examining various other facets of this intricate ecosystem. On Sunday, June 11, the main conference will take place at Kunsthaus Zürich’s newly constructed Chipperfield building. The conference offers a captivating program featuring talks and panel discussions that delve into various aspects of the NFT field. Key themes to be explored include the current state of the NFT art market, insights into significant artistic practices, the impact of rapidly advancing technologies in the art world, examination of collecting behavior, and artist talks. NFT ART DAY ZRH serves as a platform for bringing together esteemed international thought leaders, experts, artists, curators, and collectors who operate at the intersection of art and technology.
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⚡️ Reddit collectible avatars onboard nearly 10M into the crypto, NFT space
Social platform Reddit is close to breaching 10 million holders of its collectible avatars, or “Reddit NFTs,” nearly 11 months after its launch in July 2022. According to Dune Analytics, there are currently a total of 9,909,465 million Reddit collectible avatar holders. Around 7.7 million of these are identified as single collective avatar holders, or those that do not have multiple wallets. NFTs in the customizable collection have been designed by independent artists and Reddit content creators. Avatar holders surged following the collection’s launch but reached a plateau at around 3 million in November. However, there has been a big growth spurt in 2023, with the number of wallets tripling over the past six months. Since the beginning of 2023, the number of Reddit avatar holders has increased by 80%. The Reddit Collectible Avatars market capitalization is $38.4 million and there are 13.7 million NFT avatars in the collection. Furthermore, there have been 303,033 total sales with a cumulative sales volume of $32.6 million, according to the data. On May 28, Redditor “ContextMelodic4212” congratulated the platform on the achievement but commented that bot activity may be responsible for some of that growth.
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🖼 The Potential of NFTs to Revolutionize the Travel Industry
Non-fungible tokens have marked a major shift in the technological landscape, essentially allowing for the distribution of verifiable and unique tokens that can represent just about anything. One of the latest trends in this evolving Web3 environment has seen the rise of NFTs within the travel industry. Effectively, representing anything from tickets, to hotel bookings and even tailored travel experiences. So, as the travel industry sits on the cusp of a digital revolution, let’s take a look at how NFTs can impact our global excursions! The travel and tour industry manages people traveling to other locations, locally or globally, for business or pleasure. The role of brands in this industry is to convey people to their destinations and arrange activities while they are there. The travel and tour industry is vast, with its functionalities extending to tourism and hospitality, where tourists are guided to aesthetic and monumental places of the world, state-of-the-art restaurants, hotels, ecological and conservation parks, and so on. However, the broadness and effectiveness of this industry can be greatly enhanced with the incorporation of NFTs. NFTs are digital tokens created in the decentralized space, they can be used to promote the travel and tour industry in various capacities.
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🖼 Gary Vaynerchuk expects NFTs to expand beyond digital collectibles long term
Welcome back to Chain Reaction, a podcast that unpacks and dives deep into the latest trends, drama and news with some of the biggest names in crypto breaking things down block by block for the crypto curious. For this week’s episode, Jacquelyn interviewed Gary Vaynerchuk, better known as Gary Vee. He is the chairman of VaynerX and CEO of VaynerMedia and NFT collection VeeFriends. NFT collectibles as a part of the ecosystem, but believes in 20 years, when people hear the term NFT. The inspiration behind VeeFriends began between 2018 and 2019 when Vaynerchuk originally wanted to start a line of desktop toys for “positive reinforcement.” The idea derived from the thousands of direct messages he receives monthly from people saying how they dislike their jobs. So originally he was going to launch a toy line, but COVID-19 happened and the NFT boom began, which was where Vaynerchuk merged his plan through the digital asset sector. “I did have a big audience … but I focused on real life utility,” Vaynerchuk said. “At first I thought I was building Disney, now I think I’m building Sesame Street … I want to create a universe, and I thought the technology of NFTs was an incredibly fun way to start that.”
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📣 MetaFlare Revolutionizes the Metaverse with Unprecedented Innovation
MetaFlare, the visionary pioneer in the rapidly evolving metaverse industry, is set to redefine the digital landscape with its groundbreaking platform. Combining cutting-edge technology with user-centric design, MetaFlare offers an immersive and limitless virtual universe where creativity knows no bounds. "Our platform is a gateway to a new era of digital interaction," said the spokesperson of MetaFlare. "We believe in empowering individuals to become creators in their own right, blurring the line between virtual reality and real-life experiences.". MetaFlare's platform is built on the robust Binance Smart Chain, allowing for enhanced scalability and interoperability. Through this technology, MetaFlare aims to introduce multi-chain support, enabling seamless transfers and collaborations across different blockchain networks. To participate in MetaFlare, users can engage in basic gameplay by registering and gaining power in the metaverse. Although staking tokens is not mandatory, it enhances the immersive experience. By purchasing tokens via PancakeSwap and staking them, users can unlock power bonuses, boost their badge level, and elevate their power value. Early adoption rewards are incentivized through a decreasing daily pool output.
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📣 Alchemy Pay teams up with Mastercard for ‘NFT Checkout’
Alchemy Pay has partnered with Mastercard to bring “NFT Checkout” – a direct payment method for digital artwork. The company intends the integration to improve accessibility to the NFT market, revolutionizing how users interact with digital artwork. A Medium post announcing the news stated that Mastercard has a presence in over 210 countries and a circulation of 1.554 billion debit cards – suggesting significant potential for NFT adoption. Alchemy Pay said businesses could benefit through the ready-made solution. At the same time, users would have a convenient, mainstream way to purchase non-fungibles – particularly those who may not be crypto-savvy. As of press time, ACH’s seven-day performance saw a 10.2% gain. However, over the last 24 hours, the token fell 1.8% to $0.02966. Nonetheless, at the current price, ACH is still 85.1% down from its $0.198666 all-time high, achieved on August 6, 2021. The addition of new payment channels in New Zealand and Australia via the POLi and PayID payment apps. The project’s Ramp Service has had a UI update.
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💰 Solana’s NFT sales dive as Bitcoin Ordinals surge
Solana’s secondary non-fungible token (NFT) sales dropped nearly 50% in May, to US$44.9 million from US$85.7 million in April. The Forkast SOL NFT Composite, a measure of NFT activities in the Solana blockchain, also decreased by 12.13% throughout May. The dip in Solana’s NFT market coincides with a surge in Ordinals, a type of NFTs on the Bitcoin network. Bitcoin’s monthly NFT sales volume skyrocketed by 474% in May, reaching over US$189 million, according to CryptoSlam data. The single reason for the major change in the Solana ecosystem is simply the impact of Bitcoin NFTs,” said Yehudah Petscher, NFT strategist at Forkast Labs. “Since Bitcoin NFTs launched at the end of January you can see Solana’s numbers steadily decreasing. Sellers, buyers, total transactions, are all 50% or less than they were prior to Bitcoin NFTs. Bitcoin’s monthly NFT sales multiplied by more than six-fold, growing from US$32 million in April to US$195.7 million in May. The Bitcoin blockchain recorded its 10 millionth Ordinals inscription on Monday, Dune Analytics data showed. The recent surge in memecoins has also factored into Solana’s falling NFT sales, according to Brian Boisjoli.
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🖼 NFT hacker’s new technique introduces new feature to Blur market
A hacker known as “Pink Drainer” has discovered a method to enable private sales on Blur, a platform that typically does not offer this feature. This revelation, first shared by Twitter user Quit, has the potential to alter the dynamics of the NFT marketplace significantly. Blur, an NFT marketplace, traditionally does not offer private listings. Any user can fulfill any listing created on the platform. However, Pink Drainer has found a way to purchase items for near zero ether (ETH) on Blur. Typically, if a scammer tricks a victim into creating a Blur listing for the minimum amount of ETH, arbitrage bots would outpace them. These bots are willing to pay most of the value of the NFT in fees to block validators, thereby securing the purchase for themselves. This situation is not ideal for phishing hackers such as Pink Drainer. To counteract this, scammers have been known to phish signatures to list items above the floor price, with their own address set as the royalty recipient with 100% royalties. However, Pink Drainer has taken this concept a step further. Pink Drainer sets a royalty recipient with 100% royalties, but instead of putting the recipient to themselves, they set it to a contract.
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🖼 NFT Artist Fewocious Reveals Upcoming Collection “Fewos”
Non-fungible token (NFT) artist Fewocious said Wednesday he’s gearing up to release his upcoming digital art collection “Fewos.” According to its website, Fewos are characters in Fewoworld, Fewocious’ Web3 universe of digital art. The three species of Fewo NFTs – Frankenstein, Misunderstood, and Humanoid – have their own unique artistic traits. There are no details on the price of the NFTs at this time. While the mint will open for public sale later in the summer, there will be a presale for holders of Fewocious’ previous Paint Drop collection, as well as holders of other Fewocious digital art tokens. The site specifies that each Fewo comes with a ERC-6551, meaning the token can transform into a wallet. The wallet will be used to claim a mint pass for FewoFashion, a collection of digital wearables and accessories. Fewocious, who’s real name is Victor Langlois, has risen to the ranks as one of the most successful NFT artists to date. In April 2022, Fewocious released the Paint Drop collection, in which he amassed $20 million in sales over the course of 24 hours.
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📣 Sotheby’s to auction failed 3AC’s NFT collection
The “Grails” non-fungible tokens, created by failed crypto hedge firm Three Arrows Capital, will soon be available for acquisition at Sotheby’s auction. Sotheby’s has announced its plans to facilitate the auction of 37 “Grails” NFTs next month, promoting it as the “most extensive live auction of digital art ever witnessed.”. The auction house aims to generate revenue exceeding $5 million, setting a remarkable precedent in this burgeoning market. Adding an air of intrigue to the event, the previous possessor of these NFTs remains shrouded in mystery, being a prominent figure within the crypto venture capital and trading sphere. Its assets experienced a dramatic downturn last year. These NFTs were seized as part of the bankruptcy proceedings that commenced in July. It has been stated by Sotheby’s that this unparalleled assortment pays homage to the distinguished artists who played a pivotal role in propelling NFTs and digital art into the cultural mainstream, showcasing their groundbreaking and conceptually innovative approaches to digitally native artistic expression.
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🖼 Find Satoshi Labs Rolls Out AI Tool That Turns Selfies Into NFTs
Find Satoshi Lab (FSL), the parent company behind popular Web3 game STEPN, is rolling out an artificial intelligence (AI) powered non-fungible token (NFT) generator. Called GNT V3, the tool aims to place creativity within the technological intersections of AI and Web3. Working in collaboration with MOOAR, FSL’s recently-released NFT marketplace, GNT V3 takes a user’s selfie as input to create AI-generated images that are minted on the Solana blockchain. Yawn Rong, co-founder of FSL, said in a press release that GNT V3 has the capability to redefine digital identity in Web3. “This is the advent of a new era of Web3 technology, where individuality merges with blockchain technology to redefine personal expression,” said Rong. “With GNT, we're pushing the boundaries of digital self-expression and enabling users to become creators of their own unique digital masterpieces, ready to be showcased and monetized in the vibrant Web3 ecosystem.” Last month, FSL released GNT V1, which allowed artists to mint individual NFTs on the MOOAR marketplace. Later in April, it rolled out GNT V2, which improved its AI model.
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📣 Shaq Is the Latest Celebrity to Be Sued Over Sale of NFTs
Former professional basketball player Shaquille O’Neal is being sued over alleged securities violations related to his NFT collection titled ASTRALs or, the Astrals Project, according to a complaint filed in the Southern District of Florida last week. In the class action lawsuit, Virginia resident Daniel Harper, who invested in Astrals NFTs and later suffered losses after the crypto market tanked, has accused O’Neal of violating Section 15 of the Securities Act of 1933, which requires brokers to be registered with the Securities and Exchange Commission. O’Neal and his son Myles founded Astrals in 2022. They brought on freelance creature artist Damien Guimoneau to create the look of the project, which features 10,000 NFTs of humanoid animals and creatures brandishing weapons and other accessories. The NFTs were sold on Solana, a popular blockchain similar in function to Ethereum. O’Neal promoted the project to his millions of fans on social media, offering giveaways, access to private Discord channels, and promising a return on investment, the complaint alleges. In one video posted to social media, O’Neal told his followers, “we’re not stopping until 30 SOL floor,” in other words, O’Neal believed that the least valuable NFT in the Astrals collection would be worth 30 SOL.
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💰 BRC-721E Token Standard Bridges Ethereum NFTs to Bitcoin Ordinals
A new blockchain token standard is allowing traders to convert their Ethereum-based non-fungible tokens (NFTs) to Ordinals, or NFTs on the Bitcoin network. On Monday, Bitcoin Miladys, the Bitcoin-based derivative of the popular Miladys NFT collection, introduced its BRC-721E token standard in collaboration with Bitcoin-based NFT marketplace Ordinals Market and Bitcoin wallet Xverse. The token standard is said to act as a bridge between the Ethereum. According to the Ordinals Market website, Ethereum-based NFT holders can burn their tokens and inscribe them onto a satoshi on the Bitcoin network. Once inscribed, the tokens will automatically appear on a custom Ordinals Market collection page with complete metadata. It’s worth noting that while the new standard allows for the conversation of ERC-721 NFTs to Ordinals NFTs, metadata is initially not stored on-chain. Ordinals Market provides a number of options that allow for on-chain previews of the NFT, which can be displayed in existing wallets or marketplaces. The growth is sizeable considering Ordinals have only existed since January.
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🖼 KilroyPunk NFT Drop Mashes Up Iconic Meme With a CryptoPunk
Multichain NFT protocol Holograph dropped its latest collaboration on Tuesday, combining a recognizable, “blue chip” NFT with one of history’s most iconic memes. Titled “KilroyPunk,” the collectible is a riff on CryptoPunk #8527, owned by pseudonymous Delegate Cash creator and Crypto Twitter personality foobar, who has long used the NFT as his profile picture. It combines foobar’s famed NFT with the work of Eric Elms. The collaboration comes as Holograph tries to find a foothold in the NFT space, and it marks the multichain protocol's third offering through its consumer-facing application. Released as part of an open-edition mint—meaning the collectible can be claimed an unlimited number of times—it costs $15 and is available for 48 hours. Dating back to the 1940s, “Kilroy Was Here” emerged as an American symbol on battlefields in Europe and the Pacific, often in the form of graffiti. And having created cultural commentary with the character for years, Elm’s foray into the NFT space is imbued with distinct subtext.
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🖼 The NFT Revolutionaries Binance, Decentraland and DogeMiyagi Expand The Markets
The world of non-fungible tokens (NFTs) is constantly evolving, and these marketplaces play a pivotal role in connecting creators, collectors, and investors. The three prominent players in this space that have captured considerable attention are Binance (BNB), Decentraland (MANA) and DogeMiyagi (MIYAGI). As crypto enthusiasts continue to explore the potential of NFTs, understanding the unique offerings of these platforms is crucial. The concept of NFTs traces back to 2012 when a project called Colored Coins sought to represent ownership of physical assets on the Bitcoin blockchain. However, the breakthrough moment for NFTs came in 2020. Artists and creators flocked to platforms like Ethereum (ETH) to tokenize their digital artworks, granting them scarcity and verifiable ownership. Notably, the sale of “Every Day: The First 5000 Days” by Beeple at Christie’s auction house for a staggering $69 million in March 2021 grabbed global attention, catapulting NFTs into the mainstream. Decentraland takes the concept of NFTs further by combining blockchain technology and virtual reality (VR) to create a decentralized metaverse.
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📣 Crypto Critic Now Finds Himself Supporting NFTs Minted On Bitcoin
Peter Schiff, a well-known economist and investor, now supports blockchain technology and non-fungible tokens (NFTs). Considering his previous stance on digital assets, mainly Bitcoin, Schiff unexpectedly turned to Twitter on May 27 to express his enthusiasm for a planned art endeavor. Tweeting on May 27, Schiff expressed his excitement about working with one of his favorite painters, Market Price, on a collaborative artwork that would combine the conventional elements of art with blockchain. The focus of this group effort is a unique work of art called “Golden Triumph.” Art lovers and collectors will also be able to purchase a set of prints and Ordinals that have been permanently recorded on the Bitcoin blockchain. Given Schiff’s long-standing distrust of blockchain technology and cryptocurrencies, this news came as a shock to many. His support of Bitcoin shows how his views on the convergence of art, technology, and investing are shifting. Schiff’s recent tweets on blockchain and NFTs seem to contradict his previous stance. In 2021, he questioned the worth of owning an NFT digital picture. His tweet brought attention to the blurring of lines between legitimate ownership of a non-fungible token-authenticated digital artwork.
NFTs | OpenSea | News
💰 Reddit the Only Big Tech Firm That 'Cracked the NFT Code': Polygon Co-founder
Polygon’s co-founder said the social media giant “cracked the code” for NFT adoption, during a recent AMA session on Reddit. Besides sharing pro-crypto and Polygon views like how Web3 will complement Web2 in areas like finance, gaming, and social media, the founder also explained how Reddit managed to win over its community with the launch of its digital collectibles. The social media platform introduced NFTs as “Collectible Avatars” on Polygon in July 2022 via free airdrops and early sales of digital collectibles for up to $100. Nailwal said that Reddit "is perhaps the only well-known Big Tech company who has cracked the NFT code and they are able to drive a lot of engagement with Reddit NFTs." Polygon represents a multi-chain ecosystem of sidechains that leverage Ethereum's security to provide a scalable application platform. Currently, it supports two public blockchains: Polygon and Polygon zkEVM. Reddit was responsible for adding 3 million crypto users in the first three months following its NFT launch. Over the last ten months, the company has successfully onboarded 9.7 million users to Reddit’s NFT platform, according to a Dune dashboard. Nailwal also said that no other blockchain ecosystems are “fully decentralized,” except Bitcoin and Ethereum.
NFTs | OpenSea | News