Web3 Market Recap: OpenAI’s Enhanced DALL-E 3, $33M Boost for Blockchain Gaming, and Stoner Cats Trading Suspension Raises Centralization Concerns...
NFT Weekly News #23 18th Sep- 24th Sep
NFT News Weekly Update #23
(09/18/2023-09/24/2023)
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!
(Please don't forget to subscribe below and follow Threekeyslab on Twitter for more! )
Top News 🔝
📌AIGC|OpenAI Launches Advanced DALL-E 3 with Enhanced Features and Safety Measures (Sep 21)
OpenAI unveils DALL-E 3, an advanced version of its AI visual art platform, featuring integration with ChatGPT, allowing users to create prompts effortlessly and enhancing user accessibility to AI art creation. This version exhibits improved context understanding and safety measures, aiming to avoid the generation of inappropriate or hateful imagery. It includes a provision for artists to opt out their art to avoid copyright infringements, ensuring a secure and user-friendly environment for art creation. DALL-E 3 will initially be available to ChatGPT Plus and ChatGPT Enterprise users, with subsequent releases planned for research labs and API services. However, the release date for a free public version remains uncommitted.
📌Web3 | a16z Leads $33M Investment in Blockchain Game Studio Proof of Play (Sep 21)
Blockchain-based game studio Proof of Play has raised $33M, with Andreessen Horowitz (a16z) spearheading the investment. Led by FarmVille co-creator Amitt Mahajan, Proof of Play will use the funds to advance the development of on-chain games like Pirate Nation, a game allowing players autonomous evolution and reshaping. The company aims to open-source its tech for developing on-chain games and applications, with an emphasis on composability, interoperability, and permanence in gaming, giving players genuine asset ownership. Former Twitch CEO Emmett Shear has joined the company's board.
📌NFT|Major Platforms Cease Stoner Cats Trading Post SEC Decision; Questions on Centralization Arise (Sep 19)
Following the SEC’s controversial designation of Stoner Cats NFTs as a ‘security’ and a subsequent $1 million fine, major NFT marketplaces like OpenSea and Blur have suspended all trading of Stoner Cats, with Rarible removing them entirely. This move underscores the centralized control of these platforms, as they can halt any collection’s transaction activities promptly. However, as Stoner Cats inhabit the Ethereum network, the ownership and peer-to-peer transfers of these tokens remain unaffected, highlighting the enduring, decentralized nature of blockchain assets despite restrictions on centralized platforms.
Market Update 📣
To find out more about the notable NFT sales for the week, please click on the link below.
Other News 👀
NFT|Rapid Pokémon NFT Sale Boosts Polygon’s Volume (Sep 22)
Polygon (MATIC) experienced a trading surge as Pokémon NFT card packs, offered by Courtyard.io, sold out in seconds this week. Users purchased “mystery boxes” with potential Pokémon-themed cards using credit cards and opened them after a 24-hour wait, with unopened packs auto-revealing after 48 hours. The focus on digital pack openings is due to enhanced liquidity. Polygon's prominence is highlighted as it outpaced Solana in NFT transactions amidst Solana’s ongoing SEC scrutiny.
Web3|Post.Tech Rises as a Strong Competitor in Token-Gated Social Media Space (Sep 22)
Post.Tech, a rival to the token-gated channel pioneer Friend.Tech, has seen a significant surge in daily trading volume, reaching $1.8 million, becoming a strong contender in the social media space. Post.Tech and Friend.Tech operate similarly, offering token-gated channels where users buy and sell access tokens, with both platforms charging a 10% transaction fee. Despite being launched a month later, Post.Tech is catching up fast, with its transaction volumes and user activity surpassing that of Friend.Tech on certain days. While Friend.Tech operates on Coinbase’s new Ethereum Layer 2 network, Base, and rewards users with points, Post.Tech uses the older Ethereum Layer 2 network, Arbitrum, and offers cash rewards, which might be contributing to its growing user base and activity.
Web3|YouTube Shorts Introduces AI-Based Feature, Dream Screen, to Revolutionize Content Creation (Sep 21)
YouTube Shorts unveils a new AI-driven feature, Dream Screen, allowing users to generate video or image backgrounds via text commands. This feature, demonstrated by YouTube CEO Neal Mohan, enables users to create varied and imaginative backgrounds, like “a panda drinking coffee,” without advanced knowledge of YouTube analytics or sophisticated production tools. Dream Screen, aimed at facilitating content creation and boosting user engagement, is set to be initially available to select creators, with a broader rollout planned for next year. The Shorts platform, currently witnessing over 70 billion daily views, anticipates further growth with the AI enhancement. In future iterations, the tool could also remodel existing videos based on typed-in ideas, offering content remixing opportunities.
NFT| Magic Eden's Integration of Solana cNFTs: A Leap Towards Scalable and Cost-Effective Digital Collectibles (Sep 20)
Magic Eden has integrated Solana compressed NFTs (cNFTs) aiming to democratize digital collectibles by offering scalable and economical solutions. cNFTs significantly reduce minting costs and facilitate quicker, more private transactions with their off-chain data storage. However, the lack of blockchain's decentralization and immutability in off-chain assets poses security concerns. This move marks progress in expanding use cases and ownership in the digital collectibles sector, with its full impact unfolding in the future.
NFT| Exciting Insights and Interactive Experiences Await at BAYC's Yacht Club Open House in Hong Kong (Sep 19)
The Bored Ape Yacht Club (BAYC) is set to host an immersive ‘Yacht Club Open House’ event in Hong Kong at the Kai Tak Cruise Terminal on November 5, offering an array of engaging experiences for Web3 enthusiasts and art aficionados. Attendees will enjoy panel discussions led by Yuga Labs and BAYC leaders, focusing on blockchain’s transformative role in entertainment, art, fashion, and gaming. Exclusive merchandise, live music, and blockchain-based games will also be featured, allowing participants to deeply explore and connect over the evolving digital landscape and the potentials of Web3.
NFT | Moonbirds Embark on Historic Lunar Journey with Space Blue Mission (Sep 22)
The NFT collection, Moonbirds, plans to send 254 ‘Space Helmet’ trait tokens to the Moon this November with Space Blue, marking the 50th anniversary of NASA’s last lunar mission. In partnership with Space X and its Falcon 9 rocket, the ‘Lunarprise Mission’ will deliver artworks from 222 creators across various mediums, including NFTs, to the Moon, preserving them on indestructible nickel plates. Earth-bound duplicates will allow terrestrial observation. Additionally, select Astro holders will receive invites to a launch party at the Kennedy Space Center and receive commemorative merchandise.
NFT | "Rick & Morty" creator Dan Harmon Unveils Blockchain-Powered Series, Krapopolis (Sep 23)
"Rick & Morty" creator Dan Harmon is set to launch his blockchain-based TV series "Krapopolis" on September 24 on FOX TV, with episodes available on HULU the next day. The series features an NFT collection called "Krap Chickens," created in collaboration with Blockchain Creative Labs. "Keys to Krapopolis" are exclusive NFTs allowing owners to appear as background characters in the series finale and access other perks. Despite undisclosed full prize details, the series has sparked intrigue in the blockchain and entertainment industries, with the NFT collection reaching a trading volume of $857,093 (538 ETH) on OpenSea.
Web3 | PUBG Creator Krafton Studio Unveils 'Overdare': The NFT-Metaverse Gaming Revolution (Sep 19)
Krafton Studio, the renowned creator behind PUBG, is gearing up to introduce "Overdare", an NFT-driven Metaverse game previously titled Project Migaloo. Developed on Krafton's proprietary blockchain, "Settlus", the game will provide an open-world Metaverse experience resembling Roblox and powered by Unreal Engine 5. With its generative AI tools, players can design unique games, create custom avatars, and engage in immersive chats. Collaborating with AR tech company Naver Z, the game promotes a "create-to-earn" economy, allowing the trading of NFTs and ensuring secure transactions. The game, expected to officially launch between January and July 2024, also facilitates transactions in USDC, a stablecoin, via the Settlus blockchain.