2021-12-20 18:31:38
NEWSFLASH! –
Here are some of today’s most important headlines:
The Polkadot network has announced the launch of its first parachains! In the initial batch of successful projects, we will see Acala, Moonbeam, Parallel Finance, Astar and Clover. The lucky projects won the right to rent slots on Polkadot’s relay chain via auction.
The development of these parachains took the Polkadot team five years of work. Their aim is to improve the interoperability between blockchains. DOT founder, Gavin Wood, had the following to say:
“And as the ecosystem grows, especially with nascent emergence of metaverses, dozens of protocols will become increasingly visible. In that scenario, there will not be a single blockchain, but we will have several interconnected chains”.
Polkadot is a ‘top 10’ cryptocurrency and for good reason. It seems that the future is multichain!!
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Adidas netted a whopping $23.4 million following its first ever NFT drop, ‘Into the Metaverse’.
According to CryptoSlam, the adidas collection is the hottest NFT series right now. This is unsurprising given the names involved, Adidas not included! The collection is in collaboration with the famous Bored Ape Yacht Club, PUNKS comic NFT creator Pixel Vault and a well-known private collector called G-Money. All in all, a very impressive team.
There was a total of 20,000 of these Adidas NFTs and customers were limited to two per person. That said, it didn’t stop one enthusiast from netting a whopping 330 of those NFTs. The relevant party created a smart contract that generated unique addresses to allow them to receive so many NFTs from the collection.
Holders of Adidas’ NFTs will receive bonuses in the future. These include the rights to wear/purchase Adidas wearables, both in real life and the metaverse.
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Following on from the above update, I read a very interesting opinion piece this morning. It discusses whether or not all these big brands and franchises jumping into web3 is really a good thing.
Adidas have launched their campaign using NFTs, Nike acquired RTFKT and even Pepsi and Budweiser have hopped on the bandwagon. However, in the crypto community, there is worry that these moves will ‘ruin’ things…
With brands like Pepsi tweeting crypto slang like ‘WAGMI’, such terms will inevitably become less ‘cool’. Similarly, Nike’s acquisition of RTFKT prompted responses such as ‘rip RTFKT’ and even ‘Congrats on ur exit from web3 it’s a shame that you weren’t in it for the long haul. So much to do to revolutionise fashion and break away from legacy brand control’.
So, despite all the excitement around major labels going long on blockchain, some crypto enthusiasts are not happy.
All in all, I see the arguments from both sides. Whilst it is true that accommodating ‘legacy brands’ is not necessarily part of the crypto narrative, it is hugely important for mass adoption. The aim is to transition from a crypto community that is niche and move to something that is accepted and used by everyone the world over.
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