NFT & Crypto Updates

2023-09-24 21:03:01 ApeCoin Community To Acquire Top NFTs Through New DAO

ApeCoin DAO, the organization governed by the embattled native token of the Yuga Labs ecosystem, will soon launch a sister DAO tasked with acquiring influential NFTs following a governance proposal that passed by a narrow margin. AIP-297, a proposal put forth by Animoca Brands co-founder Yat Siu, passed on Sept. 21 with 53.6% support. It includes plans to secure 750,000 APE tokens from the ApeCoin treasury to fund a community-governed NFT vault. The NFTs would span the art, music, virtual worlds, and gaming niches, among others. “The acquired NFTs will be managed via a community-governed vault, voted by the sister-DAO members, and open for APE holders to utilize the IP with potential grants in $APE in the near future,” the proposal said. “APE will be the token that powers the operations and execution of every stage, all the way from initial NFT acquisition to the development of products leveraging these NFT IPs.” The sister DAO will operate independently from the main ApeCoin DAO, but still be governed by APE holders. Siu’s proposal seeks to reinvigorate the ailing ApeCoin community amid the NFT downtrend. According to DappRadar, monthly NFT trading volume has crashed 70% to $559M since March, with sales count also down 45% to 3.2M.

NFTs | OpenSea | News Open / Comment

2023-09-24 16:02:59 Gucci’s Milan Fashion Week Show Premieres in The Metaverse

Gucci’s “Dream Big” division, dedicated to exploring Web3 and metaverse initiatives, has conjured a pioneering metaverse experience to go with the fashion brand’s debut showcase under a new designer. The show, led by Sabato De Sarno, Gucci’s recently appointed Creative Director, premiered at Milan Fashion Week on Friday, September 22. Spanning across three major metaverse platforms, Gucci rolled out three unique virtual experiences. The event, dubbed “Gucci Ancora” — translating to “encore” — was initially visualized in the vicinity of the esteemed Accademia di Brera. Within Roblox, Gucci has revamped the “Gucci Town” space, first introduced in May 2022. Now rebranded as “Gucci Ancora,” the updated design draws inspiration from Milan’s Brera district, emphasizing the city’s artistic vibrancy. One of the interactive rooms features transformative artwork, leading to interactive tasks that unravel parts of the show and offer hidden treasures and portals. According to the Roblox website, limited-edition rewards can be “earned by playing all three mini-games within this creative neighborhood where art and fashion come together.”

NFTs | OpenSea | News Open / Comment

2023-09-24 10:02:59 Elacity Partners with the Metaverse Bank to Bring Seamless Payments and NFTs to the World’s Creators

Elacity, the global marketplace foruser-generatedd content on the Elastos Smart Chain (ESC), has partnered with the Metaverse Bank to provide a new model for seamless payment of user-owned content fees and royalties, allowing them to be moved freely between crypto and fiat currencies. Elacity’s unique marketplace and digital rights management system allow users to take ownership of their content and monetize. Through the partnership, Metaverse Bank is making its Enigma stable coin payment engine available to content developers, enabling them to seamlessly transfer crypto earnings into any fiat currency around the world. Sash Mitchell, CEO of Elacity, describes the partnership as a’milestone’ for 99% of the creator community, which has traditionally remained subordinate to multiple other interests when attempting to protect the integrity and value of their work. This empowerment of content offers a new inclusive economic model for content creators, allowing them to define, receive, and share royalties automatically with key partners, co-creators, and other stakeholders in the form and format of their choice.

NFTs | OpenSea | News Open / Comment

2023-09-24 04:02:59 L’Oréal Professionnel forays into the metaverse

L'Oréal Professionnel, the leading brand in professional hair tech, has forayed into the Metaverse, embracing cutting-edge technology and elevating self-expression in the realm of hair beauty. As pioneers in the field of hair tech, L'Oréal Professionnel recognizes the immense potential of the Metaverse and is committed to revolutionizing the industry by offering more inclusive, diverse, and creative hair looks for virtual identities. According to a research by Grand View Research, Inc., the global metaverse market is all set to grow at a CAGR of 41.6 per cent which will lead the market to amount to an estimate of US$ 936.6 billion by 2030. For India, Arthur D. Little, the strategy and management consulting company, India’s Metaverse market is projected to reach $200 billion by 2035. Metaverse resonates with current trends in self-expression and digitalization. It provides an immersive space for users to create digital identities, experiment with avatars, styles, and experiences, reflecting their real-world personas. As digitalization blurs physical and virtual boundaries, the metaverse enables global access to products, services, and social interactions, enhancing connectivity.

NFTs | OpenSea | News Open / Comment

2023-09-23 21:02:59 NFT Cards Featuring Legendary Anime Pokémon On The Polygon (MATIC) Blockchain

The sale of these NFT cards took place in two stages, and it was a resounding success. NFT enthusiasts from all over the world rushed to get their hands on these unique digital collectibles. In just a matter of seconds, 175 cards were sold, highlighting the immense popularity of this project. The demand for these NFT cards is a testament to the enduring popularity of Pokemon and the excitement that surrounds the world of NFTs. The speed at which these NFT cards were sold is truly astonishing. With NFT enthusiasts snapping up 175 cards in a matter of seconds, it’s clear that the demand for these digital collectibles is incredibly high. The successful sale is a testament to both the popularity of Pokemon and the growing interest in NFTs. If you were lucky enough to get your hands on one of these NFT cards, congratulations! You now own a unique piece of Pokemon history. To make the purchase of these NFT cards as accessible as possible, the organizers of the sale accepted both fiat money from credit cards and the stablecoin USD Coin (USDC).

NFTs | OpenSea | News Open / Comment

2023-09-23 16:03:00 Senco Gold & Diamonds launches virtual jewellery showroom ‘Sencoverse’ on the Metaverse

Senco Gold & Diamonds, the Indian jewellery retailer with a legacy of over five decades, has taken a major step forward in the fast-evolving digital landscape by launching its first virtual showroom, ‘Sencoverse’ on the metaverse. It is India’s first virtual jewellery showroom on metaverse aimed at connecting with the new age customers to redefine their shopping by providing them a more customized and seamless experience. Sencoverse, the digital platform from Eastern India’s largest jewellery retailer, is a convergence of technology and artistry to bring the brand’s exquisite jewellery to life in the virtual realm. The initiative offers an end to end shopping experience to customers, from hassle-free browsing of the virtual showroom to selection of items to receiving the chosen pieces at their doorsteps. Expressing his delight at the launch of this new initiative, Suvankar Sen, MD & CEO of Senco Gold & Diamonds, said, ‘The launch of Sencoverse marks a significant leap in our digital transformation journey and our commitment to offer exceptional and hassle-free shopping experiences to our valued customers. We believe that the digitally savvy millennials and Gen Z shoppers are the future of retail.

NFTs | OpenSea | News Open / Comment

2023-09-23 10:03:00 South Korea's Dreamus Debuts Avalanche NFT Tickets for Events, K-Pop Concerts

South Korean entertainment and events firm Dreamus, a subsidiary of SK Planet, is now offering NFT ticketing services through SK Planet’s OK Cashbag loyalty rewards app, allowing fans to buy tickets to events like K-pop concerts and other shows as Avalanche NFTs. OK Cashbag rewards members with points for making qualifying purchases. OK Cashbag also offers games and quizzes on its Android Google Play Store app. Avalanche-based NFT tickets are available for this year’s Seoul Jazz Festival and the “Phantom of the Opera” musical. While NFT tickets were initially available for the K-pop Superpop Festival as well, the event was canceled and refunds are being issued due to “an unexpected incident” during stage installation, per the event’s official website. Considering that Dreamus manages distribution and events for prominent K-pop artists like Psy and Twice, however, it’s likely that other K-pop concerts will be added as NFT-ticketed events in the future. Justin Kim, Ava Labs’ head of Korea, told Decrypt in an interview that NFT tickets can help solve the rampant problem of bots and scalpers in the live events ticketing industry.

NFTs | OpenSea | News Open / Comment

2023-09-23 04:03:00 NFT creators seek alternatives after OpenSea cuts royalties

Several non-fungible token (NFT) creators and artists are seeking alternative platforms to sell their work after OpenSea stopped mandating creator royalties at its marketplace. NFTs represent some of the most promising profit opportunities for digital artists. With NFT royalties, creators can earn a percentage of the sale each time an NFT is sold and subsequently resold. Many creators, including pseudonymous generative artist Zancan, hope NFTs will empower independent artists with an additional source of revenue. OpenSea’s decision comes during a difficult time for the entire NFT market that saw significant declines. The Forkast 500 NFT Index hit a new all-time low of 1,999.14 points on Sept. 19. “Removing royalties is shooting a bullet in one’s foot,” Zancan, the creator behind Garden, Monoliths NFT collection, told Forkast. “I’m a supporter of artists’ royalties. This is the best thing that’s ever happened to artists and the art world at large. This is a major point in the reason why anyone would adopt blockchain technology to distribute their art or collect the art.” Zancan’s Garden, Monoliths is a Tezos-based NFT collection that generated over 1.2 million worth of Tezos (US$788,040) in secondary sales. With a 15% royalty fee, the collection generated over US$118,000 of royalties for the creator.

NFTs | OpenSea | News Open / Comment

2023-09-22 21:03:00 China Starts Registering Trademarks Filed for NFTs and Virtual Goods in the Metaverse

The Trademark Office of the China National Intellectual Property Administration (“Chinese Trademark Office” or “the Office”) has recently approved a slew of marks filed for non-fungible tokens (“NFTs”) and other goods and services for use in the metaverse. These include downloadable digital files authenticated by non-fungible tokens (NFTs) and virtual goods in class 9, displaying virtual goods for retail purposes in class 35, providing virtual goods for entertainment purposes in class 41. China has not previously approved any trademarks filed for NFTs and virtual goods and services until now. The biggest hurdle was that the Chinese Trademark Office typically only accepts standard goods and services that are pre-approved by the Office for national trademark applications. The Chinese Trademark Office is known for being unwilling to adopt new goods and services quickly. As a matter of fact, the Chinese Trademark Office has yet to update the list of standard goods and services nor issue any guidance regarding the classification and description of virtual goods and services.

NFTs | OpenSea | News Open / Comment

2023-09-22 20:31:36 Nfts | Opensea | News

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