Web3 Market Recap: The Simpsons' NFT Craze, BAYC Founder's Big Buy, and Musk's AI 'Grok'...
NFT Weekly News #29 6th Nov- 12th Nov
NFT News Weekly Update #29
(06/11/2023-12/11/2023)
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 🔝
📌NFT |The Simpsons Embraces NFT Mania in 'Treehouse of Horrors XXXIV'(Nov 6)
The latest Halloween episode of "The Simpsons," titled "Treehouse of Horrors XXXIV," humorously delved into NFT culture. The segment featured Bart Simpson being turned into the first NFT of a human being, with various references to popular NFT collections. The episode, well-received by the NFT community, sparked a surge in Simpson-related NFTs and memes, including a "Springfield Punks" collection. This representation in a mainstream show like "The Simpsons" is seen as a significant moment for the NFT community.
📌NFT|BAYC Co-Founder's NFT Shopping Spree Amid Crypto Winter (Nov 10)
Wylie Aronow, alias Gordon Goner, co-founder of BAYC and Yuga Labs, recently embarked on a notable NFT buying spree, including a 600 ETH zombie Punk, despite stepping back from Yuga Labs for health reasons. His purchases span a range of high-profile NFT projects, reflecting his enthusiasm for the web3 community. Gordon's engagement comes after a hiatus from NFT trading due to his former role, signaling a continued interest in the sector's evolution and potential.
📌AIGC|Elon Musk Unveils 'Grok': A New AI Model with Humorous Edge (Nov 6)
Elon Musk's xAI has introduced 'Grok', a new AI with a humorous slant, inspired by "The Hitchhiker's Guide to the Galaxy." Developed in just two months and using Twitter's data, Grok is designed to offer smart, witty responses. Despite its advanced capabilities in various benchmarks, Grok's less restrictive nature raises ethical questions. Musk's vision for Grok aligns with creating culturally unbiased AI while maintaining ethical integrity.
Market Update 📣
To find out more about the notable NFT sales for the week, please click on the link below.
Other News 👀
NFT|ApeFest Attendees Report Severe Eye Burn Caused by UV Light Exposure (Nov 6)
Attendees of the ApeFest concert in Hong Kong experienced severe eye pain, with some needing hospital treatment. Suspected cause is UV light exposure from stage lighting, similar to a past incident at a Hypebeast event. Yuga Labs, the organizers, are investigating and report less than 1% of the 2,250 attendees affected.
NFT|Yuga Labs and Magic Eden Team Up to Launch Groundbreaking Ethereum Marketplace with Guaranteed Creator Royalties (Nov 6)
Yuga Labs and Magic Eden are partnering to launch an Ethereum marketplace that will enforce creator royalties, setting a precedent in the NFT space for supporting and fairly compensating creators. This initiative marks a significant stance in the ongoing debate about creator fees in digital marketplaces.
NFT|Roblox CEO Envisions NFT Integration with Celebrities Like Elton John for Cross-Platform Connectivity(Nov 10)
Roblox CEO David Baszucki proposed integrating NFTs into Roblox, allowing digital items to be shared across platforms, with potential collaborations with celebrities like Elton John. While Roblox previously hinted at NFT-like features, it hasn't fully implemented them yet. The platform currently focuses on user growth and its digital currency, ROBUX, but the NFT integration could significantly impact the mainstream gaming audience.
NFT|OpenSea's Valuation Slashed by Coatue Amid NFT Market Decline (Nov 8)
Coatue Management drastically reduced its valuation of OpenSea from $120 million to $13 million, reflecting a downturn in the NFT market. OpenSea's valuation now stands at around $1.4 billion, significantly lower than its previous $13.3 billion peak. The company is adapting to market changes by evolving into "OpenSea 2.0," focusing on technology and operational efficiency. This trend echoes in the wider NFT sector, which has seen a notable decline in trading volumes and a slight recovery in October.
AIGC|Key Updates in ChatGPT's Rapid Evolution (Nov 7)
ChatGPT, OpenAI's influential AI chatbot, has evolved rapidly with major developments like the advanced GPT-4 Turbo, a GPT Store for custom creation, and a significant user base growth. Integrations with DALL-E 3 and a new Audio API, along with legal support for users, highlight its expanding capabilities. Despite some challenges in its multimodal API, ChatGPT continues to be a major player in AI technology.
NFT|China Tightens Laws on NFT and Digital Collection Theft (Nov 10)
China has officially declared the theft of digital collections, such as NFTs, a criminal offense, treating them as both data and digital property. The Nov. 10 announcement emphasizes the illegal nature of system intrusion in such thefts. Despite China's general ban on crypto activities since 2021, there's a growing interest in NFTs, with recent moves by Alibaba's Xianyu and state-owned China Daily towards embracing NFT platforms.