NFT Weekly News #12
3rd July - 9th July, 2023
NFT News Weekly Update #12
(07/03/2023-07/09/2023)
GM
Welcome to NFT Weekly News by Threekeyslab🗝️🗝️🗝️. Here you can find the latest curated news📰in the NFT world. Every week, we aim to provide a selection of the most interesting news and events that are fostering the development of the NFT world.
The NFT field is constantly evolving, and this article will review last week's Top🔝NFT news. Let's take a look👀together!
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Big News 🔝
📌NFT|Bored Ape Yacht Club Prices Crash to Two-Year Low, Down 88% From Peak (July 4)
Widespread selling is causing turbulence in the NFT market, with major projects like the Bored Ape Yacht Club hitting multi-year low prices. Bored Ape Yacht Club NFTs, which peaked at 152 ETH ($429,000) in April 2022, have seen a significant value drop in recent times.
📌NFT | VitalikButerin on the TaprootWizards Thursday 13 July Show (July 9)
Click the link above to know more
📌NFT|Uncovering the Cryptic History: The Story and Final Resting Place of 11 Burned CryptoPunks NFTs
Click the link above to know more
Market Update 📣
To find out more about the notable NFT sales for the week, please click on the link below.
Other News 👀
NFT|Angry over the Azuki Elementals fiasco, Azuki holders form a DAO and immediately get exploited (July 3)
After spending around $40 million on Azuki NFTs, the Azuki community felt deceived due to the NFTs being almost identical to the original collection. In response, they formed an Azuki DAO and issued a governance token, $BEAN. They aimed to hire a lawyer and sue the creator of Azuki for a refund. However, shortly after its creation, a flaw in the DAO's smart contract was exploited, resulting in a theft of approximately 35 ETH (~$69,000). The contract has since been paused to prevent further losses.
NFT| NFTPerp blows up (July 6)
NFTPerp, a project allowing futures trading on NFTs using a virtual automated market maker, is shutting down after accumulating bad debt due to market imbalances. Their decision to wipe out unrealized gains for successful traders while waiving losses for unsuccessful ones has sparked controversy. Despite the failure, the team is gearing up to launch a "v2".
AIGC| AI to wipe out human developers in 5 years: Stability AI chief (July 4)
Emad Mostaque, CEO of Stability AI, predicts that programmers will be obsolete in five years, citing that 41% of all current code is AI-generated. He views AI as a tool to enhance human potential rather than replace it. Stability AI, known for its open-source image generator, Stable Diffusion, is also developing models for protein folding, language processing, and audio-visual data. The company aims to use AI as a foundational element of a "society OS".
Web3| Shanghai’s high $7B hopes for the metaverse (July 3)
Shanghai plans a significant investment in culture and tourism through blockchain technology, with ambitions to create a billion-dollar metaverse. The plan includes the establishment of 30 metaverse tourism projects by the end of 2025, featuring digital replicas of real-world landmarks. Also, it aims to use AR for virtual tour guides, musical performances, and art exhibits. The initiative is based on the city's 2022 5-year digital economy development plan, focusing on blockchain, the metaverse, and NFTs, and aims to generate annual revenues of $6.9 billion while creating a $1.4 billion metaverse industrial fund.
AIGC| Siemens touts the industrial metaverse (July 4)
Siemens is venturing into web3 technology to enhance its client services, launching an accelerator program that collaborates with various companies. Partnerships include working with Maeve Aerospace to develop a zero-emissions aircraft and with NVIDIA to speed up digitization processes. Siemens emphasizes the benefits of digital twinning in extended reality (XR), seeing the metaverse as the future of computing. It aims to use the industrial virtual world to promote digitalization, increase productivity, and improve sustainability in factories.
Web2 | Metaverse-challenged Meta launches Threads (July 6)
Meta's Threads app, considered an alternative to Twitter, has been launched a day earlier than expected amid dissatisfaction with Elon Musk's social media platform. Threads enables users to post, repost, and reply to messages, and allows Instagram users to follow the same accounts on the platform. CEO Mark Zuckerberg aims to create a new text-based platform for sharing ideas and discussing topics. Other Twitter competitors include Bluesky, Mastodon, Post.News, and Hive. The launch follows Meta's contentious metaverse plans and increased focus on AI amid the competitive race in the AI space.