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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.
NFTs | OpenSea | News
🖼 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".
NFTs | OpenSea | News
♦️ 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.
NFTs | OpenSea | News
🪙 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.
NFTs | OpenSea | News
🖼 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.
NFTs | OpenSea | News
🔫 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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💰 NFT-optimized Palm Network to become a Polygon ZK Supernet
Nonfungible token-focused blockchain Palm Network is about to become a great deal more accessible to users, with plans to transition into being a customized Polygon blockchain. According to a July 26 announcement, Palm Network will soon become a Polygon ZK Supernet, which will see minting, trading, and collecting NFTs becoming more readily available to its users. Additionally, Palm Network will become interoperable with Ethereum and the rest of the Polygon 2.0 ecosystem. Polygon “supernets” are customizable blockchains that are created using Polygon consensus software, while the term “ZK Supernet” refers to a network that uses zero-knowledge proofs to process deposits and withdrawals from Ethereum. Palm Network’s transition to a Polygon Supernet will take place in two stages. On August 23, it will transition to a proof-of-stake (PoS) consensus mechanism network. Then sometime in 2024 it will transition into a ZK-based layer-2. Palm Network has partnered with NFT marketplace Candy Digital, which carries licensed NFTs from NASCAR, Major League Baseball, Netflix, Warner Brothers, WWE and other brands. The digital art distributor HENI is also built on the network.
NFTs | OpenSea | News
🖼 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.
NFTs | OpenSea | News
📊 Guidehouse Insights Estimates Global Investment in Energy Metaverse Will Grow to Nearly $80 Billion in 2031
A new report from Guidehouse Insights provides an overview of the energy metaverse. Broadly speaking, the metaverse is the confluence of several emerging digital technologies, most already familiar to energy industry executives, which promises to radically change the way energy companies plan, build, operate, and market their services over the long term. According to a new report from Guidehouse Insights, global investment in the core energy metaverse technologies. The energy metaverse is just emerging, but the building blocks are securely in place. Core energy metaverse technologies include digital twins, AI and machine learning (ML), unmanned aerial systems (UAS) and drones, extended reality (XR), and blockchain-based applications. Utility storefronts in metaverse malls could provide virtual customers with real-world benefits such as product comparisons and purchasing, energy use analysis, and evaluation of a premises' suitability for solar. In-demand specialized experts in a field could work on a virtual offshore rig, advising onsite workers how to address a problem—without ever leaving their home office. And drones could conduct ongoing inspections of critical assets, feeding real-time data into digital twins equipped.
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⚡️ E& launches first metaverse zones in the region
e&, a UAE headquartered leading technology group, on Wednesday announced the launch of ‘e& universe’, the first metaverse in the region that is set to captivate audiences with phenomenal experiences. This extraordinary platform, which aims to give users an exceptional digital experience, made its debut at Gitex last year. This was conceptualised and launched in line with the UAE's metaverse strategy to position itself as a pioneer in shaping the future of emerging technologies on a global scale, it said. e& universe hosted the first Unpacked event in the metaverse for the new Samsung Galaxy series on July 26 at 15:00, where users were able to pre-order their favourite Galaxy devices in the metaverse and take advantage of the exciting pre-order offers Samsung is rolling out for the new devices, bringing users one step closer to global technology updates and becoming the virtual hub for entertainment and live events. Khaled Elkhouly, Chief Consumer Officer, etisalat by e&, said: “We are thrilled to bring our revolutionary metaverse, a virtual realm that transcends imagination and brings together various zones of boundless possibilities. This groundbreaking launch will reshape the way we interact, explore and create, offering all our users a truly immersive experience.
NFTs | OpenSea | News
🖼 Gucci Wants to Reward ‘Material NFT’ Holders With 2 Physical Items – For Free
Luxury fashion powerhouse Gucci is preparing to gift two exclusive physical items – a wallet or bag – to holders of its Gucci Vault Material NFTs, which will be generally unavailable to Gucci’s usual clientele. The Material NFTs debuted last March as part of a partnership between Gucci and the narrative NFT project, 10KTF. The collection dressed eleven selected NFT collections, including Bored Ape Yacht Club (BAYC), World of Women (WoW), Cool Cats, and more, in digitally enhanced Gucci outfits to showcase Gucci’s digital identity in an alternate world. 10KTF tells the fictional story of a floating city in a parallel universe, following Gucci’s Creative Director Alessandro Michele as he takes a trip from Rome to New Tokyo. During his time in New Tokyo, he crosses paths with Wagmi-san, the famed digital artisan who was considered a legend in having crafted the coveted items in his 10KTF shop. While the true purpose of the Material NFT was shrouded in mystery when it was initially introduced to Grail NFT holders, the curiosity and anticipation from the Web3 community was nothing short of genuine interest – especially for Gucci Grail NFT holders who were airdropped the Material NFT last year. For this reason, those NFTs were valued at around $600 on OpenSea prior to its ultimate purpose being revealed to the community.
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🟠 Binance AI NFT Generator Delights KYC-Verified Traders
Binance NFT has launched its AI NFT generator called “Bixel” which allows users to create custom artworks using AI technology. This tool has become permanently available to users since July 26, 2021. The trading platform stated that the AI NFT generator helps users produce unique digital art, making it easier for them to join the world of NFTs. To use the AI NFT generator, users must complete BNB’s know-your-customer (KYC) identity verification process. BNB has emphasized that this is a critical measure that ensures a trustworthy and secure platform for all users, aligning with best practices and regulatory requirements. Before using the tool, users must pay a minting fee of 0.008 BNB, which is approximately $1.9 at the time of writing. The minting fee is essential to ensure the proper execution of the NFT creation process within the BNB smart chain. Additionally, when it comes to generating artwork using AI, Binance NFT provides ten chances for users to produce art for free each day. The beta version reached its full capacity within 2.5 hours, achieving the allotted minting limit of 10,000 NFTs shortly after it went live.
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🖼 Ducati announces release of NFT collection on XRPLedger
Ducati, an Italian motorcycle manufacturer, announced the launch of its first-ever digital collectibles on the XRPLedger. The brand chose XRP through the XLS-20 standard to expand its footprint in the web3 ecosystem. The move is likely to drive the adoption of XRPLedger’s native token XRP and catalyze the altcoin’s recovery in the long term. The XRPLedger (XRPL) was created in 2012 specifically to facilitate payments in XRP. Ducati’s collectibles launch will be made possible through the XLS-20 standard on the XRPL blockchain. Ducati’s partnership could be the first of many for XRP as brands innovate in the web3 ecosystem. Ripple is one of the contributors to the XRPLedger, running six of the thirty five unique validator nodes in the blockchain network. NFT collections continue to drive activity on the XRPL, and since the XLS-20 standard went live, over one million assets have been minted on the ledger. The XLS-20 has powered these NFT collections on the XRPL, all functionalities like minting, trading, burning and automatic royalties are handled by XRP’s blockchain. NFT collections continue to drive activity on the XRPL, and since the XLS-20 standard went live, over one million assets have been minted on the ledger.
NFTs | OpenSea | News
🖼 CyberKongz to Mint Genkai NFTs on Ronin, Migrate Game to 'Axie' Chain
CyberKongz has grown into a significant NFT franchise, with $210 million in total volume traded across just the largest of its four collections. Now, the creators plan to migrate the CyberKongz NFT minting game, called Play and Kollect, from one Ethereum sidechain to another—from Polygon to Ronin, the network created by Axie Infinity developer Sky Mavis. The Kongz team is also launching Genkai, a new anime-inspired NFT collection, across both Ronin and the Ethereum mainnet this week—with plans for a second game on the horizon. “Genkai is the first non-pixel artwork I have created for CyberKongz, and will represent our growth as a project to expand our IP into the Southeast Asian and Japanese markets,” said pseudonymous CyberKongz founder and artist Myoo in a statement. “Additionally, CyberKongz will be working with Ronin to develop a game featuring Genkai.” Because Ronin is currently a private (or permissioned) blockchain, the Genkai mint is the first non-Axie Infinity NFT drop to occur via the blockchain. The move comes just months after Sky Mavis announced that it is working with four game studios, including the makers of The Machines Arena, to build out Ronin’s gaming ecosystem.
NFTs | OpenSea | News
🖼 Melania Trump's 'Man On The Moon' NFT Featuring Buzz Aldrin Clashes With NASA Policies
Former First Lady Melania Trump launched her newest collection of non-fungible tokens (NFTs), featuring a photograph of NASA astronaut Buzz Aldrin’s historic moonwalk. The catch? NASA does not grant approval for the use of its imagery in these digital tokens. Gizmodo reported this alleged breach, pointing out that NASA’s Regulations on Merchandising Requests and Media Usage Guidelines explicitly state that the agency does not permit its images to be associated with NFTs. Melania Trump unveiled her Apollo 11 NFT collection, titled “Man on the Moon,” on Wednesday, coinciding with the 54th anniversary of the historic mission. Priced at $75, this limited edition collectible comes with an embedded audio file that purchasers can unlock to enhance their ownership experience. Additionally, the guidelines emphasize that NASA is not approving any merchandising applications tied to NFTs. According to NASA’s regulations, any individual or entity intending to use NASA imagery, emblems, or identifiers on merchandise must obtain prior approval from the agency. The approval process is governed by “strict laws and regulations.”
NFTs | OpenSea | News
🖼 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.
NFTs | OpenSea | News
🔫 Trace Network’s fashion metaverse PARIZ gathers huge interest from investors
The general perception of metaverse is very pessimistic, despite flops from the biggest metaverse projects like META and Disneyland universe. However, investors are getting more enthusiastic about metaverse projects again. Recently, a metaverse technology company-Trace Network Labs confidently took a chance to launch an adoption centric metaverse for fashion and lifestyle — PARIZ and in a short time it got very popular amongst users and now with investors. PARIZ metvaverse was launched on March 22, and is currently in news for surpassing Decentraland in monthly transactions by almost 30 per cent. PARIZ has 11k+ monthly active users (as per Dapp Radar), who spends an average time of 45+ minutes engaging in experiences like shopping, events and they hangout with friends in PARIZ lounge. This credit goes to their adoption centric approaches like web2 like social logins, zero gas fees for any interactions in metaverse , mind maps for directing users to their choice of experience and access to metaverse with devices like VR headsets, desktop browser and now it's also accessible with mobile browsers.
NFTs | OpenSea | News
🪙 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.”
NFTs | OpenSea | News
🖼 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.
NFTs | OpenSea | News
🖼 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 | OpenSea | News
🖼 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.
NFTs | OpenSea | 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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🖼 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.
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📣 Bruce Lee avatar to teach martial arts in the metaverse
Legendary martial artist and actor Bruce Lee, who died in 1973, is set to teach martial arts in the metaverse through a tribute event hosted by a social entertainment platform to celebrate the 50th anniversary of the actor’s passing. Metaverse project Byte City announced on July 26 that those who wish to engage with the avatar of the late actor can participate in the event by minting avatars on Ethereum and Polygon. The minting is set to open on July 27 at 9 am PST for Polygon and July 28 at 9 am PST for Ethereum. Those who are able to mint avatars on Ethereum or Polygon will be able to utilize the playable characters that they minted within the Byte City metaverse game 24 hours after the mint. The game can be accessed through desktop browsers and through iOS and Android mobile devices. Byte City has also collaborated with Bruce Lee’s daughter Shannon Lee and Samsung Gaming to develop the tribute event. In a previous press release, Lee said that the game will provide an immersive experience that allows fans to celebrate her father’s legacy in a special way. Meanwhile, this was not the first instance of Bruce Lee diving into the Web3 world. On April 12, the Bruce Lee Foundation, which is also directed by Shannon Lee, partnered with the nonfungible token (NFT).
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📣 Mark Zuckerberg's Metaverse losses pass $40 billion.
Wall Street is starting to come to terms with the massive amount of money Mark Zuckerberg keeps pouring into the metaverse. With second-quarter results out, collective losses from Reality Labs, the metaverse unit at Meta, has now surpassed $40 billion and more financial pain is on the way. Yet, investors sent Meta's stock up 7% on Wednesday, after hearing Zuckerberg's explanation of why he continues to spend so heavily in a still largely unproven area. "This is a very long-term bet," Zuckerberg said on a call with analysts. "I can't guarantee you that I'm gonna be right about this bet. I do think that this is the direction that the world is going in." Zuckerberg went on to explain the various consumer tech trends he's noticed, leading him to believe that a more immersive version of the internet will become the norm in the years ahead. This time, analysts hassled Zuckerberg much less on metaverse spending than they have in previous quarters. The difference: Last year, Meta reported slowing or negative revenue growth. Now, much of the focus during the call was on Meta's AI projects and the surprising growth and success of Threads. Revenue increased in the second quarter, and is expected to increase again in the next. Meta has done huge layoffs and cut expenses in other ways.
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📣 e& launches its metaverse ‘e& universe’ with Samsung’s Unpacked event
UAE's telecommunications giant e& made its official entry into the metaverse on Wednesday with the launch of 'e& universe' and collaborated with Samsung to host the first-ever Unpacked event in this virtual realm. During the event on July 26 at 3 pm, users had the opportunity to pre-order the latest Samsung Galaxy smartphones within e& universe. This platform, introduced at GITEX last year, aims to keep users updated with global technology advancements. Khaled Elkhouly, Chief Consumer Officer, etisalat by e&, said, “We want to welcome all our customers to a future of interconnected realities and are pushing the boundaries of digital innovation, empowering them to create unforgettable experiences in an ever-evolving metaverse.” Hosted virtually in Arcadia Planitia, a place on Mars considered the most suitable for future life, e& universe is a tribute to the UAE’s national space strategy, said e&. Joseph Lin, GM of VIVERSE, said, “These remarkable new features we’ve developed for e& underscore its commitment to pioneering innovative ways for people to relish content and forge meaningful connections with one another.”
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🖼 Snoop Dogg's NFT-Inspired Ice Cream: Dr. Bombay Hits Walmart
Dr. Bombay Ice Cream draws its name from Snoop Dogg's NFT character, blending the digital and physical worlds. The ice cream comes in seven flavors: Bonus Track Brownie, Cocoa Cream Cookie Dream, Iced Out Orange Cream, Rollin' In the Dough, S'more Vibes, Syrupy Waffle Sundaze and Tropical Sherbet Swizzle. It will be debuting in 3,500 Walmart stores across the U.S., according to Food Business News. Snoop Dogg shared his thoughts on the venture, stating, "Ice cream is more than just a snack to me; it's a way to chill, relax and get happy. Fans will also notice that my sidekick, Dr. Bombay is the name, face, and persona of this brand. That's because he's like a son to me, and you always want your kids to be more successful than you are, that's my goal in building this lifestyle brand — starting with ice cream.". The partnership with Happi Co. opens a new chapter for both entities. Happi Co. CEO Sam Rockwell spoke about the collaboration, stating, "When Snoop approached us with the idea of starting a new company with a focus on frozen treats, it became obvious that we share core values.
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🖼 A New Sleepdrop Scam Uses NFT Airdrops To Steal Your Funds
The team at Forta Network has sounded the alarm about a new version of the Sleepdrop scam. This version of the scam uses NFTs and a verified contract to mislead users into thinking they’re interacting with a legitimate airdrop. Forta Network is a California-based security and operational monitoring network for wallets, developers, and investors. Lido is one of its users. The Forta community discovered the scam when a new NFT from Lido was transferred into one of Forta’s multisig wallets. After Lido confirmed that it was not the source of the NFT, the Forta community studied it and discovered it was a scam. The scam involves several steps. First, the scammer creates an ERC-1155 (NFT collection) that impersonates a legitimate team. Next, the scammer transfers most of these counterfeit assets to a legitimate contract that previously conducted an airdrop. Then, the scammer triggers the airdrop function of the contract to distribute the NFTs to multiple addresses. To deceive recipients, the description of the NFT includes a phishing URL embedded within it. The main difference between a traditional sleepdrop and this scam is that the scam offers an NFT as a fake reward.
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💰 Solana-Based NFT Marketplace Exchange.art to Expand Into Ethereum
Exchange.art, the popular Solana-based digital art marketplace, is soon taking its platform multichain and integrating support for Ethereum. According to data from analytics platform CryptoSlam!, Ethereum's non-fungible token (NFT) trading volume takes first place at $10.2 million in the past 24 hours, while Solana trails behind in second place with just over $920,000. Larisa Barbu, COO of Exchange.art told CoinDesk that Exchange.art always had the plan to expand beyond Solana, and aims to onboarding new creators and collectors in doing so. “The vision of Exchange.art is to be a hub for digital art and then slowly, build out solutions for traditional art as well,” said Barbu. “So because that's the vision, and that's where we aim to go…being multichain is just kind of the next step in this direction.” “[Artists] would very much prefer to actually maintain only one platform and one community, instead of [always] juggling between two or three platforms, two or three communities, always updating information between the three of them, communicating with people on all of those platforms, and so on.” said Barbu. “It was actually a decision that we took because we had demand for it, from an artist perspective – and it will help quite a lot of artists.”
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🖼 Bollywood Actor Tapsee Pannu Launches NFT Platform 'Taapseeclub'
Bollywood actress Taapsee Pannu has launched a non-fungible token (NFT) platform for her fans: taapseeclub.com. It aims to create a positive space for her fans and separate genuine supporters from trolls. According to the website, "Taapsee Club consists of exclusive NFT competitions and giveaways where members can win merchandise from her movies and tangibly support the causes she champions." Moreover, it stated, "We intend to create a positive forum for Taapsee. After the launch, the maiden NFT drop is priced at around Rs 3,000. It offers a membership with a chance of winning gifts handpicked by Pannu. NFT membership includes four video greetings from Pannu. The actor joined the NFT trend at a time when the excitement around blockchain-based tech beyond financial services applications has tempered significantly. NFTs are digital arts that can be sold and bought just like tangible items. Several Bollywood and sports personalities in India got into the NFT space around the same period. Amitabh Bachchan, Salman Khan, Suniel Shetty, Sachin Tendulkar, MS Dhoni, and Yuvraj Singh, among others, issued NFT tokens with a similar goal in mind: to build a fan network.
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