Meta has expanded its pilot project to integrate NFT into Instagram
Meta Corporation has expanded its pilot project for NFT's social Instagram integration to an additional 100 countries. The organization launched a pilot project to integrate NFT into Instagram in May 2022. Selected users were allowed to set up NFTs as a profile photo.
As part of the initiative, the social network supports assets on Ethereum, Polygon and Flow blockchains. Rainbow, MetaMask, Trust Wallet, Coinbase Wallet and Dapper Wallet wallets are available for connection. In the initial announcement, Meta promised to integrate Phantom, but has not yet done so.
Meta Corporation has expanded its pilot project for NFT's social Instagram integration to an additional 100 countries. The organization launched a pilot project to integrate NFT into Instagram in May 2022. Selected users were allowed to set up NFTs as a profile photo.
As part of the initiative, the social network supports assets on Ethereum, Polygon and Flow blockchains. Rainbow, MetaMask, Trust Wallet, Coinbase Wallet and Dapper Wallet wallets are available for connection. In the initial announcement, Meta promised to integrate Phantom, but has not yet done so.
Luxury brands Gucci and Tiffany successfully launched NFT-linked projects
Luxury brands Gucci (owned by Kering SA) and Tiffany & Co. (LVMH) this week announced projects related to NFT. In Gucci's case, the tokens will be used to pay for its goods, while Tiffany will use NFT as a digital passport to make custom jewelry for cryptocurrency fans.
Although the launch of the projects comes amid a downturn in the NFT market, the brands described their initiatives as "future-proof," calling them "another step" in web3 research.
Luxury brands Gucci (owned by Kering SA) and Tiffany & Co. (LVMH) this week announced projects related to NFT. In Gucci's case, the tokens will be used to pay for its goods, while Tiffany will use NFT as a digital passport to make custom jewelry for cryptocurrency fans.
Although the launch of the projects comes amid a downturn in the NFT market, the brands described their initiatives as "future-proof," calling them "another step" in web3 research.
OpenSea is a couple of steps away from an NFT marketplace war
The OpenSea Marketplace is preparing to go to war with new marketplaces as the number of competitors grows. The fact is that as they emerge, OpenSea's NFT Marketplace's dominance in terms of trading volume is declining. Beginning in January, the trading volume on the site is rapidly falling. At the beginning of the year the volume of trades on the site was about $ 5 billion, then by the end of July on OpenSea traded a little less than $ 500 million.
The potential war of NFT-marketplaces is also signaled by the precipitous drop in OpenSea's market share. While the platform's dominance was 84% in May, in July the figure dropped to 58.6%. According to DappRadar experts, competitors X2Y2 and Magic Eden played a key role in this decline.
The OpenSea Marketplace is preparing to go to war with new marketplaces as the number of competitors grows. The fact is that as they emerge, OpenSea's NFT Marketplace's dominance in terms of trading volume is declining. Beginning in January, the trading volume on the site is rapidly falling. At the beginning of the year the volume of trades on the site was about $ 5 billion, then by the end of July on OpenSea traded a little less than $ 500 million.
The potential war of NFT-marketplaces is also signaled by the precipitous drop in OpenSea's market share. While the platform's dominance was 84% in May, in July the figure dropped to 58.6%. According to DappRadar experts, competitors X2Y2 and Magic Eden played a key role in this decline.
Lamborghini launches NFT collection
Automobili Lamborghini is partnering with NFT PRO and INVNT.ATOM to launch the first of its new curated NFT series, Epic Road Trip.
After two successful NFT releases to date, the super sports car giant is ready to showcase an explosive NFT series. Each piece is a 30- to 40-second animation with sound. Collectors will be invited to join the Epic Adventure before its completion in March 2023.
Automobili Lamborghini is partnering with NFT PRO and INVNT.ATOM to launch the first of its new curated NFT series, Epic Road Trip.
After two successful NFT releases to date, the super sports car giant is ready to showcase an explosive NFT series. Each piece is a 30- to 40-second animation with sound. Collectors will be invited to join the Epic Adventure before its completion in March 2023.
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New EU law will regulate NFTs like cryptocurrencies.
Under the Markets in Crypto-Assets (MICA) law, NFT collections will receive the same treatment as cryptocurrencies.
With this new classification, EU citizens hoping to put an NFT collection up for sale will fall under the umbrella of crypto-asset service providers (CASPs). They will need to receive express authorization from the EU before offering up their services (or wares) to the public.
Through this aggressive stance on NFTs, the EU also hopes to curtail instances upon which crypto assets are used for money laundering and other illicit purposes.
Under the Markets in Crypto-Assets (MICA) law, NFT collections will receive the same treatment as cryptocurrencies.
With this new classification, EU citizens hoping to put an NFT collection up for sale will fall under the umbrella of crypto-asset service providers (CASPs). They will need to receive express authorization from the EU before offering up their services (or wares) to the public.
Through this aggressive stance on NFTs, the EU also hopes to curtail instances upon which crypto assets are used for money laundering and other illicit purposes.
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Blockchain music app 'Single' partners with Shopify.
For the first time ever, creatives can now sell NFTs on Shopify – one of the largest digital e-commerce platforms – through Single, a Solana blockchain, music, and video company.
The release of tokengating content and commerce on the Single app allows creators to upload any file into the Single Platform and mint it as an NFT on the Solana blockchain, instantly appearing in their Shopify storefront for purchase alongside traditional merchandise.
The announcement by Single is a game-changer. Now, a musician who mints music NFT and sells it to fans creates immediate value (i.e., the music) and additional benefits, for instance, perks on store merchandise.
For the first time ever, creatives can now sell NFTs on Shopify – one of the largest digital e-commerce platforms – through Single, a Solana blockchain, music, and video company.
The release of tokengating content and commerce on the Single app allows creators to upload any file into the Single Platform and mint it as an NFT on the Solana blockchain, instantly appearing in their Shopify storefront for purchase alongside traditional merchandise.
The announcement by Single is a game-changer. Now, a musician who mints music NFT and sells it to fans creates immediate value (i.e., the music) and additional benefits, for instance, perks on store merchandise.
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Bored Ape NFTs drop to an 8-month low.
The biggest NFT collection's floor price has slipped to its lowest level since the beginning of the year amid a continued NFT market slump and wider crypto market struggles.
According to data from CoinGecko, the Bored Ape Yacht Club NFTs have fallen to 65.68 ETH from reaching their all-time high of 153.7 ETH on May 1.
However, BAYC still remains the biggest NFT collection by market cap at 656,800 ETH. In addition, the floor price sits around $107,000 lower than what it was at but up from its low of $87,000 in June.
The biggest NFT collection's floor price has slipped to its lowest level since the beginning of the year amid a continued NFT market slump and wider crypto market struggles.
According to data from CoinGecko, the Bored Ape Yacht Club NFTs have fallen to 65.68 ETH from reaching their all-time high of 153.7 ETH on May 1.
However, BAYC still remains the biggest NFT collection by market cap at 656,800 ETH. In addition, the floor price sits around $107,000 lower than what it was at but up from its low of $87,000 in June.
Telegram's founder may introduce NFT-like smart contracts to auction usernames.
After the successful launch of the domain name auction by The Open Network (TON), enabling users to assign human-readable names to crypto wallets, smart contracts, and websites; Pavel Durov, the founder of Telegram, has floated the idea of a marketplace that could utilize the idea of NFT’s to auction usernames.
Durov suggested that Telegram could tap into similar technology to roll out a new marketplace that could be used to buy and sell addresses like @stоrm or @rоyal and all four-letter user names.
He additionally suggested that other elements like channels, stickers, and emojis could later also become part of this marketplace; and that if Telegram were to launch NFTs, they would most likely be based on the TON network’s standard utilizing FunC programming language.
After the successful launch of the domain name auction by The Open Network (TON), enabling users to assign human-readable names to crypto wallets, smart contracts, and websites; Pavel Durov, the founder of Telegram, has floated the idea of a marketplace that could utilize the idea of NFT’s to auction usernames.
Durov suggested that Telegram could tap into similar technology to roll out a new marketplace that could be used to buy and sell addresses like @stоrm or @rоyal and all four-letter user names.
He additionally suggested that other elements like channels, stickers, and emojis could later also become part of this marketplace; and that if Telegram were to launch NFTs, they would most likely be based on the TON network’s standard utilizing FunC programming language.
NFT Genius announces $150 million valuation.
NFT Genius, a company developing world-class experiences and marketplace technology, announced that it closed a $10.5 million Series A funding round led by Dapper Labs, Spartan Labs, Commonwealth Asset Management, and Fundamental Labs, which has valuated them at $150 million.
NFT Genius has also partnered on NFT deals with top athletes and artists such as Shareef and Shaquille O'Neal, golfer Bryson DeChambeau, WNBA's Kelsey Plum, and Miami Heat's Duncan Robinson.
NFT Genius will also be using the funds to move beyond sports and back major entertainment and culture deals and scale out the Gaia marketplace to support thousands of companies and brands reaching the mainstream consumer.
NFT Genius, a company developing world-class experiences and marketplace technology, announced that it closed a $10.5 million Series A funding round led by Dapper Labs, Spartan Labs, Commonwealth Asset Management, and Fundamental Labs, which has valuated them at $150 million.
NFT Genius has also partnered on NFT deals with top athletes and artists such as Shareef and Shaquille O'Neal, golfer Bryson DeChambeau, WNBA's Kelsey Plum, and Miami Heat's Duncan Robinson.
NFT Genius will also be using the funds to move beyond sports and back major entertainment and culture deals and scale out the Gaia marketplace to support thousands of companies and brands reaching the mainstream consumer.
Uniswap may be eyeing NFT financialization with lending protocols.
In a tweet from the head of NFT products, Uniswap is allegedly in contact with several NFT lending protocols to build NFT financialization.
Industries are utilizing these tokenized digital assets for everything from real estate contracts and digital fashion to collectibles and music rights monetization.
Similar platforms like OpenSea, MagicEden, and even eBay are going full speed into the Wild West of NFTs. DappRadar's Q2 industry report even suggested an NFT platform battle could be in the future.
In a tweet from the head of NFT products, Uniswap is allegedly in contact with several NFT lending protocols to build NFT financialization.
Industries are utilizing these tokenized digital assets for everything from real estate contracts and digital fashion to collectibles and music rights monetization.
Similar platforms like OpenSea, MagicEden, and even eBay are going full speed into the Wild West of NFTs. DappRadar's Q2 industry report even suggested an NFT platform battle could be in the future.
Eminem and Snoop Dogg delivered bizarre NFT performance at the VMAs.
The MTV VMAs took place on Sunday, August 28, featuring Eminem and Snoop Dogg performing as 3D avatars of their NFTs.
The performance was a first for the VMAs, which seem to be experimenting with augmented reality. The visuals of the live act were somewhat bizarre and replicated the music video from the D 2 to the LBC, going back and forth between 3D renderings of the artists and a version of them in BAYC characters.
The first "Best Metaverse Performance," which is a new addition in 2022, went to "Blackpink," winning for their AR performance in the video game "Players Unknowns Battlegrounds."
The MTV VMAs took place on Sunday, August 28, featuring Eminem and Snoop Dogg performing as 3D avatars of their NFTs.
The performance was a first for the VMAs, which seem to be experimenting with augmented reality. The visuals of the live act were somewhat bizarre and replicated the music video from the D 2 to the LBC, going back and forth between 3D renderings of the artists and a version of them in BAYC characters.
The first "Best Metaverse Performance," which is a new addition in 2022, went to "Blackpink," winning for their AR performance in the video game "Players Unknowns Battlegrounds."
FIFA launches NFT platform on Algorand.
With the 2022 World Cup just months away, FIFA has announced it will launch an NFT platform for soccer-themed digital collectibles.
The platform is FIFA+ Collect, which is set to launch later this month, and will feature "affordable, inclusive, and accessible" NFTs that depict notable soccer moments, art, and imagery, according to FIFA.
FIFA+ Collect will run on the Algorand blockchain, a proof-of-stake Ethereum and Solana alternative developed by MIT professor Silvio Micali. In May, Algorand became FIFA's official blockchain partner.
With the 2022 World Cup just months away, FIFA has announced it will launch an NFT platform for soccer-themed digital collectibles.
The platform is FIFA+ Collect, which is set to launch later this month, and will feature "affordable, inclusive, and accessible" NFTs that depict notable soccer moments, art, and imagery, according to FIFA.
FIFA+ Collect will run on the Algorand blockchain, a proof-of-stake Ethereum and Solana alternative developed by MIT professor Silvio Micali. In May, Algorand became FIFA's official blockchain partner.
NFT sales rose 26% this week.
NFT sales are up this week, more than 26% higher than the week prior, according to metrics collected by cryptoslam.iо. 17 different blockchain networks raked in over $180 million in NFT sales after recording $142.33 million last week.
The top collection this week was Uniswap V3 NFTV1 Polygon, with $68.65 million in sales. The week's top collection was followed by the Bored Ape Yacht Club (BAYC) NFT compilation raking in $7.58 million in sales this week. Immutaswap.iо, Digidaigaku, and Sorare followed the top two collections in terms of sales with $5.9 million to $7.35 million.
Ethereum (ETH) recorded the most NFT sales with $79.29 million, which was followed by Polygon's $69.46 NFT sales. Ethereum and Polygon were followed by Solana, Immutable X, and Binance Smart Chain. Flow ranked six this week with $2.02 million in sales, down 54.19% lower than the week before.
NFT sales are up this week, more than 26% higher than the week prior, according to metrics collected by cryptoslam.iо. 17 different blockchain networks raked in over $180 million in NFT sales after recording $142.33 million last week.
The top collection this week was Uniswap V3 NFTV1 Polygon, with $68.65 million in sales. The week's top collection was followed by the Bored Ape Yacht Club (BAYC) NFT compilation raking in $7.58 million in sales this week. Immutaswap.iо, Digidaigaku, and Sorare followed the top two collections in terms of sales with $5.9 million to $7.35 million.
Ethereum (ETH) recorded the most NFT sales with $79.29 million, which was followed by Polygon's $69.46 NFT sales. Ethereum and Polygon were followed by Solana, Immutable X, and Binance Smart Chain. Flow ranked six this week with $2.02 million in sales, down 54.19% lower than the week before.
Ford, the American car manufacturer, is jumping on the Metaverse bandwagon, according to its recent trademark applications.
The auto giant has submitted 19 separate trademarks for all of its key brands.
The Dearborn, Michigan-based company intends to offer virtual cars, trucks, vans and clothing.
It also has plans for online stores with non-fungible tokens (NFTs).
The auto giant has submitted 19 separate trademarks for all of its key brands.
The Dearborn, Michigan-based company intends to offer virtual cars, trucks, vans and clothing.
It also has plans for online stores with non-fungible tokens (NFTs).
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Roblox outlined a vision for the future of its busy social gaming platform on Friday, incrementally ushering its community into a new era that might not always resemble what’s come before.
To expand the platform along with its user base, developer community and, increasingly, the brands interested in setting up shop there, Roblox wants to deepen its experiences across the board. While Roblox offers overwhelming breadth, it’s not exactly known for depth. But by layering on improvements to avatars, chat and even its physics engine, Roblox plans to evolve.
Most things on the platform still sort of look that one way for now, but increasingly the old will mix with the new — and so too will the stubby Lego-like avatars mix with their longed-limbed brethren.
To expand the platform along with its user base, developer community and, increasingly, the brands interested in setting up shop there, Roblox wants to deepen its experiences across the board. While Roblox offers overwhelming breadth, it’s not exactly known for depth. But by layering on improvements to avatars, chat and even its physics engine, Roblox plans to evolve.
Most things on the platform still sort of look that one way for now, but increasingly the old will mix with the new — and so too will the stubby Lego-like avatars mix with their longed-limbed brethren.
Hackers are airdropping NFTs to Solana cryptocurrency owners pretending to be alerts for a new Phantom security update that lead to the installation of password-stealing malware and the theft of cryptocurrency wallets.
This ongoing attack started two weeks ago, with NFTs titled 'PHANTOMUPDATE' or 'UPDATEPHANTOM' sent that claim to be warnings from the developers of Phantom.
When opening the NFTs, wallet owners are told that a new security update has been released and that they should click the enclosed link or visit the site to download and install it.
Stay Alert❗
This ongoing attack started two weeks ago, with NFTs titled 'PHANTOMUPDATE' or 'UPDATEPHANTOM' sent that claim to be warnings from the developers of Phantom.
When opening the NFTs, wallet owners are told that a new security update has been released and that they should click the enclosed link or visit the site to download and install it.
Stay Alert❗
🖼 Cristiano Ronaldo NFT launch sees increase in search traffic
Cristiano Ronaldo's launch of an NFT collection has prompted an explosion in search traffic for keywords such as 'celebrity NFTs'. The news that professional footballer Cristiano Ronaldo is launching an NFT collection with crypto exchange Binance.
CoinGecko says that searches for ‘celebrity NFTs’ have increased by 1,250% while the keyword ‘Binance’ grew by nearly 500%. There has also been a 376% increase in searches for ‘Ronaldo’ in the last seven days – but the Portugal star has had a busy week. On Tuesday, he was released by Manchester United following an outspoken media interview.
Cristiano Ronaldo's launch of an NFT collection has prompted an explosion in search traffic for keywords such as 'celebrity NFTs'. The news that professional footballer Cristiano Ronaldo is launching an NFT collection with crypto exchange Binance.
CoinGecko says that searches for ‘celebrity NFTs’ have increased by 1,250% while the keyword ‘Binance’ grew by nearly 500%. There has also been a 376% increase in searches for ‘Ronaldo’ in the last seven days – but the Portugal star has had a busy week. On Tuesday, he was released by Manchester United following an outspoken media interview.