NFT Weekly News #17
7th Aug - 13th Aug, 2023
NFT News Weekly Update #17
(08/07/2023-08/13/2023)
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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Top News 🔝
📌Web3|Friend.Tech: Decentralized Social Media App Surge and Its Unique Twist on Digital Value (Aug 11)
Friend.Tech, a decentralized platform on Base, saw a surge with 100,000 daily transactions, reportedly surpassing OpenSea. The app lets users buy and sell "shares" of crypto personalities for private chats. It previously launched @TweetDAO, an NFT for shared Twitter access. Developed by @0xRacerAlt, its earnings come from trade volume. Currently in beta and invite-only, it faces high traffic. While likened to BitClout and DeSo Protocol, its unique tech and market approach stands out. Its future is uncertain, but it redefines value assessment in crypto.
📌NFT | PeckShield: NFT Thefts Drop 31% in July; Blur and OpenSea Major Resale Platforms (Aug 7)
In July 2023, NFTs worth $1.73 million were stolen, a 31% decrease from the previous month. Half were sold within 165 minutes, with 67.3% initially sold on Blur and 19.63% on OpenSea, as per PeckShield's monitoring.
📌NFT|nd4.eth Sends BAYC, MAYC, and BAKC NFTs to Burn Address After Previous 2500 ETH Burn (Aug 9)
Chain data shows that after previously sending 2500 ETH to a burn (or "black hole") address, nd4.eth has today once again transferred its BAYC, MAYC, and BAKC series NFTs to a black hole address for destruction.
Market Update 📣
To find out more about the notable NFT sales for the week, please click on the link below.
Other News 👀
Web3|Disney Exits the Metaverse: End of an Era or Change in Strategy? (Aug 8)
Disney discontinues its metaverse division and parts ways with its "metaverse chief", Michael White. Despite earlier enthusiasm about the metaverse being a new frontier for storytelling in 2022, by March 2023, they've downsized the team and exited the space.
NFT| PROOF's Grails Season IV: Bridging the Gap between Physical and Digital Art in the Web3 Era (Aug 11)
LA's Web3 community, PROOF, unveils 20+ artists for its Grails Season IV digital art series, featuring diverse artworks and generative collections via the Art Blocks engine. The collection, celebrated for its innovation, is showcased at a DTLA gallery until August 20th. Founded in 2021 by Kevin Rose and Justin Mezzell, PROOF bridges art collectors and creators in the Web3 realm.
NFT| Base + Nouns DAO to distribute 100 ETH in grants for builders and creators on BASE (Aug 8)
Base, in collaboration with Nouns Dao, is offering over 100 ETH in summer grants across four categories: Onchain Summer art/website creation, new projects on Base, one-minute crypto advocacy videos, and enhancing user experiences on Base using account abstraction. Voting details to be released soon.
NFT|Pixel Vault announces acquisition of Wolf Game & all-star cast of Reboot collaborators (Aug 9)
Pixel Vault has acquired Wolf Game, gaining exclusive rights for its future development. The acquisition, more than just a transfer of rights, signifies a collaboration between Pixel Vault and the Wolf Game team to further develop the game on the RebootGG platform. This strategic move aims to enhance the gaming experience, fostering a richer ecosystem, and highlighting both entities' commitment to innovation and growth in the digital gaming sector.
NFT| NFT Sales Slow, but Web3 Development and Loyalty Programs Surge (Aug 7)
NFT trading has seen a 41% decline in Q2 2023, with major NFT collections reaching 2-year low prices. However, web3 development remains robust, with significant smart contract activity and a rise in web3-based loyalty programs from brands like Starbucks. Additionally, Singapore invests $112M in web3 and fintech initiatives, indicating strong support for the technology's future.
AR&VR | Brands Adopt a Realistic Approach to Metaverse Marketing (Aug 8)
While the metaverse is projected to be worth $2.3 trillion, many brands remain cautious due to slow VR/AR adoption and high tool costs. Despite Gen Z's growing interest, brands are advised to strategically plan, accurately define the metaverse, and incorporate diverse engagement strategies.
AIGC | Dungeons & Dragons Says No to AI-Generated Art (Aug 8)
Following a controversy over an AI-created image, Dungeons & Dragons (D&D) announces a ban on AI usage for future artwork. The decision was triggered when an artist, collaborating with D&D Beyond for years, used AI to design an illustration. D&D Beyond plans to strengthen its artist guidelines and review process to ensure human-only artwork.
NFT | fxhash's $5M Seed Round Led by 1kx for Generative Art NFTs (Aug 8)
Generative art NFT platform, fxhash, secured $5 million in seed funding led by web3 firm 1kx. The funds will be used to expand their team and integrate Ethereum minting in a major platform upgrade. Previously self-funded, fxhash operates on the Tezos blockchain, allowing artists to create and sell computer code-driven generative art as NFTs.
Web3 | Circle launches Programmable Wallets as Part of its Web3 Services Line (Aug 8)
Circle has launched a programmable Web3 wallet platform, allowing developers and merchants to integrate with Circle's programmable wallet. This can be personalized within their applications and services can be built on top of it. It enables consumers to send, receive, and store cryptocurrencies, including Circle's USDC and NFTs.
NFT | A Dialogue with Animoca's Investment Director, Jenny: The Future of NFTs and Blockchain Gaming (Aug 10)
Jenny, Animoca's Investment Director, highlighted that Animoca is harnessing quality content to attract vast audiences to blockchain games. She sees great potential in strategy blockchain games and emphasizes the importance of game quality over immediate NFT integration. With the NFT market cooling, game prototypes should be the primary focus. Future NFT applications may thrive in gaming, social media, and live streaming sectors.