NFT Weekly News #7
29th May- 4th June, 2023
NFT News Weekly Update #7
(05/29/2023-06/4/2023)
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 🔝
📌WEB3| MoonPay CEO, Other Executives Cashed Out Before Crypto Business Dropped (May 30)
MoonPay's CEO and other early executives reaped $150 million in secondary share sales at the peak of the crypto market. Its core payments business has since come under pressure and the company is leaning heavily into its NFT products.
📌NFT | 3AC Grails Round Two: Sotheby’s to Host Largest Ever Live Auction of Digital Art (May 31)
Sotheby's has announced a major live auction of 37 generative NFTs from the now-defunct Singapore-based crypto hedge fund, Three Arrows Capital (3AC). Set for June 15, the auction, dubbed the "largest ever live auction of digital art," will feature works from artists including Dmitri Cherniak, Tyler Hobbs, Jeff Davis, Kjetil Golid, Matt DesLauriers, Deafbeef, and Hideki Tsukamoto. The sale, expected to bring in over $5 million, follows Sotheby's previous auction of seven works from Grails that sold for a total of $2.5 million. The initiative demonstrates the increasing mainstream acceptance of digital art.
📌AIGC|Midjourney Meets Its Match! Google's StyleDrop (June 4)
StyleDrop is a tool powered by Muse, a text-to-image vision transformer, that can generate images in a specific user-provided style. It excels in capturing fine details and various effects, learning new styles efficiently by fine-tuning a tiny fraction of model parameters, and improving through iterative training with feedback. Despite its complexity, StyleDrop can produce impressive results from just a single style image. Extensive studies prove StyleDrop on Muse outperforms other methods in style-tuning text-to-image models.
Market Update 📣
To find out more about the notable NFT sales for the week, please click on the link below.
Other News 👀
AIGC|Taking pictures📸is so last year: “Prompt” pictures with Paragraphica (May 30)
The Paragraphica AI camera is a revolutionary concept that uses artificial intelligence to create images based on location data and environmental factors, without needing a lens. While AI has been used in cameras before to enhance image quality, Paragraphica stands out as the first entirely lensless camera, potentially making significant waves in the photography industry.
NFT| "Charity NFT project" by supposed cancer patient raises $117,000💰with stolen art before being exposed as a fraud (May 30)
An individual posing as a cancer patient launched a charity NFT project, "Pixel Penguins", supposedly to fund her treatment, and raised around 63.5 ETH (~$117,000) through sales of stolen pixel art. Crypto influencer Andrew Wang, who endorsed the project, later apologized for promoting the scam, despite having claimed to have done due diligence by being in contact with the supposed artist and her art teacher. The fraudulent nature of the project was uncovered by crypto detective zachbt.
NFT| NFL labor union🏈is out almost $42 million thanks to crypto collapse (May 30)
The National Football League Players Association (NFLPA) has reportedly been unable to collect approximately $42 million in licensing and sponsorship revenue, as per The Athletic. The shortfall is linked to the downturn in the crypto industry and subsequent renegotiation of licensing deals by partners. The money is owed by OneTeam Partners, with both sports NFT platform Dapper Labs and DraftKings, who signed a deal with the NFLPA for its "Reignmakers" player trading card NFTs, reportedly discussing restructuring their agreements due to a difficult year.
WEB3| Atomic Wallet hacks total over $35 million💰 (June 3)
Atomic Wallet users have reported losses exceeding $35 million due to potential security issues. The company previously dismissed security warnings, and while it acknowledged the losses, the method of attack remains unspecified. Users are advised to transfer their assets elsewhere.
NFT| Reddit NFTs Hit $32M💵 In Sales, Cross 10M Holders (May 30)
Since their 2022 launch, Reddit NFTs have skyrocketed, amassing 10 million holders and yielding $32 million in sales, with a 2023 surge despite early slowdown. However, potential bot activity raises concerns. Meanwhile, Reddit is set to support Ubisoft’s Rabbids NFT collection.
NFT| Fingerprints DAO Announces Maschine Collection in Partnership with Mercedes-Benz🚗 (June 1)
Mercedes-Benz NFTs are the latest drop in the automotive Web3 market! The new collection titled ‘Maschine’ is created in collaboration with artist Harm van den Dorpel and Fingerprints DAO, a global digital community.
NFT| EA Sports🎮to add Nike NFTs to games (June 4)
EA Sports and Nike Virtual Studios are teaming up to integrate Nike's .SWOOSH virtual creations, also known as NFTs, into upcoming EA Sports games. While specific details of this integration are not yet clear, the partnership aims to offer immersive experiences and enhanced customization within the EA SPORTS ecosystem.
NFT | Alchemy Pay announces that its NFT Checkout feature now supports Mastercard💳payments (June 2)
Alchemy Pay's NFT Checkout now supports global Mastercard payments, facilitating easier direct digital art purchases and integrating traditional payment methods into the NFT market.
NFT | Otherside🎮plans to select non-Yuga Labs ecosystem NFT series to be incorporated into its game LoTM (May 31)
Metaverse platform Otherside, operated by Yuga Labs, announces that select non-Yuga Labs NFT series will be incorporated into its game, Legends of the Mara (LoTM). The game will not only feature Yuga Labs' NFT assets but will also include selected third-party PFP NFT series to form a game alliance.
NFT | Japan's🇯🇵 All Nippon Airways starts selling aviation-themed NFT collectibles (May 30)
All Nippon Airways, through its subsidiary ANA Neo, is launching aviation-related NFTs, initially featuring photographer Luke Ozawa's work, marking its entry into NFT-based business development.
NFT | Ordinals Market and Bitcoin Miladys jointly launch a new NFT migration standard, BRC-721E (May 30)
Ordinals Market and Bitcoin Miladys have released a new BRC-721E standard, which simplifies the transfer of ERC-721 NFTs to Ordinals by encoding data into a burn transaction, thereby making NFT transactions on the Bitcoin network more efficient and upgradeable.
AR&VR | Empowering AR/VR Experiences through Empowering AR/VR Experiences through Breakthroughs in Brain-Computer Interaction by EMOTIV
EMOTIV is pioneering the field of Brain-Computer Interaction (BCI), making it possible for people to control machines using their thoughts, a breakthrough that promises to revolutionize AR/VR experiences. They're leading the market in helping individuals understand their brains better, use thoughts for object control, and use these insights for self-improvement. With research opportunities available, anyone can contribute to shaping the future of the human brain.