📣 Elon Musk Tweets Miladys NFT Meme—Price Predictably Pumps
Milady Maker NFTs have pumped in price today following a tweet from Twitter owner and CEO Elon Musk, who shared a meme showing one of the anime-style Ethereum NFT profile pictures (PFPs). The image reads "There is no meme. I love you." It has already been viewed more than 4 million times in less than an hour, and yielded tens of thousands of interactions. Not only did the tweet prompt a flurry of excitement and enthusiasm amongst Miladys NFT holders. According to data from NFT Price Floor, the entry-level price for the collection on secondary markets immediately jumped from 3.75 ETH ($6,920) to 5.25 ETH ($9,700), pushing its 24-hour rise to 57% in total. The jump recalls the impact that Musk's tweets have had on the price of meme coin Dogecoin in the past. NFT marketplace OpenSea reports a market-wide sales surge, with over 600 NFTs in the collection sold over the last hour to the collective tune of about 3,700 ETH, or over $6.9 million worth. It's by far the best-selling project during that span. Milady Maker has been a controversial project, with NFT prices dropping last May.
Milady Maker NFTs have pumped in price today following a tweet from Twitter owner and CEO Elon Musk, who shared a meme showing one of the anime-style Ethereum NFT profile pictures (PFPs). The image reads "There is no meme. I love you." It has already been viewed more than 4 million times in less than an hour, and yielded tens of thousands of interactions. Not only did the tweet prompt a flurry of excitement and enthusiasm amongst Miladys NFT holders. According to data from NFT Price Floor, the entry-level price for the collection on secondary markets immediately jumped from 3.75 ETH ($6,920) to 5.25 ETH ($9,700), pushing its 24-hour rise to 57% in total. The jump recalls the impact that Musk's tweets have had on the price of meme coin Dogecoin in the past. NFT marketplace OpenSea reports a market-wide sales surge, with over 600 NFTs in the collection sold over the last hour to the collective tune of about 3,700 ETH, or over $6.9 million worth. It's by far the best-selling project during that span. Milady Maker has been a controversial project, with NFT prices dropping last May.
📣 Epic Games CEO Defends Metaverse
Epic Games CEO Tim Sweeney pushed back against a recent article from Business Insider that claimed the Metaverse was "dead." The article, written by PR firm CEO Ed Zitron, argued that virtual worlds had been abandoned by the business world, citing Meta's Horizon Worlds, Decentraland, and Yuga Labs' Otherside as examples of metaverses that had failed to live up to their hype. Epic Games and LEGO Group announced a long-term partnership to build a "family-friendly" Metaverse. Sweeney, however, was quick to point out that there are currently 600 million users across virtual world platforms like Fortnite, Minecraft, Roblox, The Sandbox, and VR Chat. In his tweet, Sweeney sarcastically suggested that the Metaverse was dead and that it was time to organize an online wake for the 600 million monthly active users across these platforms to mourn its passing. This isn't the first time that Sweeney has spoken out in defense of the Metaverse. In April 2022, Epic Games announced a $2 billion funding round aimed at accelerating the company's plans for the Metaverse. The investment included a $1 billion investment from Sony Group and KIRKBI, the holding company behind the LEGO Group.
Epic Games CEO Tim Sweeney pushed back against a recent article from Business Insider that claimed the Metaverse was "dead." The article, written by PR firm CEO Ed Zitron, argued that virtual worlds had been abandoned by the business world, citing Meta's Horizon Worlds, Decentraland, and Yuga Labs' Otherside as examples of metaverses that had failed to live up to their hype. Epic Games and LEGO Group announced a long-term partnership to build a "family-friendly" Metaverse. Sweeney, however, was quick to point out that there are currently 600 million users across virtual world platforms like Fortnite, Minecraft, Roblox, The Sandbox, and VR Chat. In his tweet, Sweeney sarcastically suggested that the Metaverse was dead and that it was time to organize an online wake for the 600 million monthly active users across these platforms to mourn its passing. This isn't the first time that Sweeney has spoken out in defense of the Metaverse. In April 2022, Epic Games announced a $2 billion funding round aimed at accelerating the company's plans for the Metaverse. The investment included a $1 billion investment from Sony Group and KIRKBI, the holding company behind the LEGO Group.
📣 Crypto.com Lists Milady (LADYS) NFT Memecoin Two Days After Elon Musk Tweet
A prominent crypto exchange platform is listing a new memecoin just days after billionaire Elon Musk mentioned it in a tweet and sent it skyrocketing. In a new announcement, Singapore-based digital assets exchange Crypto.com says that it’s now listing Milady (LADYS), the meme asset associated with the Milady Maker non-fungible token (NFT) collection, on its app. “Milady Meme Coin (LADYS) is now listed in the Crypto.com App, joining the growing list of 250+ supported cryptocurrencies and stablecoin. Crypto.com App users can now purchase LADYS at true cost with USD, EUR, GBP, and 20+ fiat currencies.” LADYS, which made its debut in the markets earlier this month, saw a staggering increase of over 2000% this week after Tesla CEO and business magnate Musk tweeted about it. Previously, data from blockchain tracking platform Lookonchain found that a mysterious crypto wallet that was created just one hour before Musk’s tweet about the meme asset netted a massive 2300% profit from trading Milady. However, LADYS has heavily retraced from its peak as its trading for $0.00000005732 at time of writing, a 57.22% decrease during the last 24 hours. At the time it was sold by the crypto wallet, it was moving for $0.000000135961.
A prominent crypto exchange platform is listing a new memecoin just days after billionaire Elon Musk mentioned it in a tweet and sent it skyrocketing. In a new announcement, Singapore-based digital assets exchange Crypto.com says that it’s now listing Milady (LADYS), the meme asset associated with the Milady Maker non-fungible token (NFT) collection, on its app. “Milady Meme Coin (LADYS) is now listed in the Crypto.com App, joining the growing list of 250+ supported cryptocurrencies and stablecoin. Crypto.com App users can now purchase LADYS at true cost with USD, EUR, GBP, and 20+ fiat currencies.” LADYS, which made its debut in the markets earlier this month, saw a staggering increase of over 2000% this week after Tesla CEO and business magnate Musk tweeted about it. Previously, data from blockchain tracking platform Lookonchain found that a mysterious crypto wallet that was created just one hour before Musk’s tweet about the meme asset netted a massive 2300% profit from trading Milady. However, LADYS has heavily retraced from its peak as its trading for $0.00000005732 at time of writing, a 57.22% decrease during the last 24 hours. At the time it was sold by the crypto wallet, it was moving for $0.000000135961.
Urban Decay Is Throwing the First Metaverse Makeup Launch Party on Roblox
Urban Decay always encourages fans to break the rules and unleash creativity in surprising ways. To support the next generation of beauty creators in the metaverse, the pioneering cosmetics company is releasing 18 mesmerizing virtual makeup looks in Roblox, a global immersive platform where over 65 million users of all ages connect and communicate.
Eva Erdmann, President, Urban Decay Global says"As we build new communities of beauty creators and fans, our goal is simple: provide a platform that lets you unapologetically express yourself and connect with like-minded makeup lovers—and Eye-Con is exactly that. We are excited to take our longstanding relationship with Ulta Beauty, our #1 retail partner since 2004, to the next level in the metaverse." As a first for Urban Decay, the brand developed 3D avatar wearables using products that can be purchased IRL.
Urban Decay always encourages fans to break the rules and unleash creativity in surprising ways. To support the next generation of beauty creators in the metaverse, the pioneering cosmetics company is releasing 18 mesmerizing virtual makeup looks in Roblox, a global immersive platform where over 65 million users of all ages connect and communicate.
Eva Erdmann, President, Urban Decay Global says"As we build new communities of beauty creators and fans, our goal is simple: provide a platform that lets you unapologetically express yourself and connect with like-minded makeup lovers—and Eye-Con is exactly that. We are excited to take our longstanding relationship with Ulta Beauty, our #1 retail partner since 2004, to the next level in the metaverse." As a first for Urban Decay, the brand developed 3D avatar wearables using products that can be purchased IRL.
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📣 TRU and MTV Join Forces for Epic Mental Health Festival in Decentraland Metaverse
True pioneers of the Decentraland Metaverse, The Rocking Uniquehorns (TRU), have partnered with the legendary MTV network for Mental Health Action Day on May 18. As a result, bringing a grand 24-hour concert filled to the brim with wide array of musical talent to the virtual realm. The epic event will kick off on the stroke of midnight (ET) on May 18, at the TRU BandRoom Festival Stage in Decentraland’s Genesis Plaza. During the festival, music fans can jump in and out at their leisure, with the organizers dropping SHOAP attendance protocol tokens every hour. Essentially, ensuring that attendees can stick to the theme of the concert and take care of their own mental health instead of staying awake for the full 24 hours. The Decentraland concert arrives to celebrate and bring attention to the third annual Mental Health Action Day. A tremendous initiative that aims to bring light to mental health issues and encourage all those affected to take action. As a result, bringing a whole community of music lovers together to improve the lives of everyone involved.
True pioneers of the Decentraland Metaverse, The Rocking Uniquehorns (TRU), have partnered with the legendary MTV network for Mental Health Action Day on May 18. As a result, bringing a grand 24-hour concert filled to the brim with wide array of musical talent to the virtual realm. The epic event will kick off on the stroke of midnight (ET) on May 18, at the TRU BandRoom Festival Stage in Decentraland’s Genesis Plaza. During the festival, music fans can jump in and out at their leisure, with the organizers dropping SHOAP attendance protocol tokens every hour. Essentially, ensuring that attendees can stick to the theme of the concert and take care of their own mental health instead of staying awake for the full 24 hours. The Decentraland concert arrives to celebrate and bring attention to the third annual Mental Health Action Day. A tremendous initiative that aims to bring light to mental health issues and encourage all those affected to take action. As a result, bringing a whole community of music lovers together to improve the lives of everyone involved.
AI and Machine Learning will help to Build Metaverse Claims Exec
According to one of the executives at Facebook, reports related to Metaverse’s demise have been exaggerated more than they needed to be. Meta hosted a press event in New York on 11 May announcing a new AI generative Sandbox tool for advertisers. Nicola Mendelsohn who is Meta’s Head of Global Business expressed that they are still very much interested in the Metaverse and reinstated that Mark Zuckerberg is very clear about that.
Responding to various reports by news media organizations showing how Meta is not interested in the Metaverse, Nicola explained that they are really interested in the Metaverse. He addressed the attendees saying that this whole Metaverse thing can take 5-10 years before they realize the vision of what they’re talking about.
According to one of the executives at Facebook, reports related to Metaverse’s demise have been exaggerated more than they needed to be. Meta hosted a press event in New York on 11 May announcing a new AI generative Sandbox tool for advertisers. Nicola Mendelsohn who is Meta’s Head of Global Business expressed that they are still very much interested in the Metaverse and reinstated that Mark Zuckerberg is very clear about that.
Responding to various reports by news media organizations showing how Meta is not interested in the Metaverse, Nicola explained that they are really interested in the Metaverse. He addressed the attendees saying that this whole Metaverse thing can take 5-10 years before they realize the vision of what they’re talking about.
📣 NeoSwap AI Conducts World's First Smart Auction of Ordinals for Bitcoin, Unveiling a New Era in the NFT Space
NeoSwap AI is conducting the world's first Bitcoin NFTs (Ordinals) smart auction, in strategic partnership with Gamma.io. The event, which runs from May 15th to May 22nd, coincides with Bitcoin Miami 2023, marking a significant milestone for the blockchain and digital assets community. NeoSwap is sponsoring two significant conferences, Bitcoin Builders and Ordinals 2023, taking place in Miami on May 17th and 18th. These events, featuring a range of activities, underscore NeoSwap's commitment to innovation within the NFT space. The Ordinals smart auction will provide a platform for 15 select creators to showcase their unique artistry, designed to enhance visibility and foster engagement with potential collectors. On May 17, NeoSwap's CTO, Kuba Kwiecien, will participate in an Ordinals Technical Session at the Bitcoin Builders Conference. His talk will focus on NeoSwap's innovative solutions that facilitate seamless cross-chain transactions of Ordinals, thereby expanding the potential applications of these unique digital artifacts. The subsequent day will see NeoSwap's CEO, Dr. John Ennis, sharing insights on the potential of a circular smart economy on Bitcoin at the inaugural Ordinals Conference.
NeoSwap AI is conducting the world's first Bitcoin NFTs (Ordinals) smart auction, in strategic partnership with Gamma.io. The event, which runs from May 15th to May 22nd, coincides with Bitcoin Miami 2023, marking a significant milestone for the blockchain and digital assets community. NeoSwap is sponsoring two significant conferences, Bitcoin Builders and Ordinals 2023, taking place in Miami on May 17th and 18th. These events, featuring a range of activities, underscore NeoSwap's commitment to innovation within the NFT space. The Ordinals smart auction will provide a platform for 15 select creators to showcase their unique artistry, designed to enhance visibility and foster engagement with potential collectors. On May 17, NeoSwap's CTO, Kuba Kwiecien, will participate in an Ordinals Technical Session at the Bitcoin Builders Conference. His talk will focus on NeoSwap's innovative solutions that facilitate seamless cross-chain transactions of Ordinals, thereby expanding the potential applications of these unique digital artifacts. The subsequent day will see NeoSwap's CEO, Dr. John Ennis, sharing insights on the potential of a circular smart economy on Bitcoin at the inaugural Ordinals Conference.
Coinbase has found itself embroiled in controversy after categorizing the popular internet meme character, Pepe the Frog, as a hate symbol in a newsletter.
This decision has sparked backlash within the $PEPE community, with many individuals expressing their disagreement with Coinbase's stance.
Coinbase has since then apologized, with its Chief Legal Officer tweeting, “We screwed up and we are sorry. Yesterday we shared an overview of the $pepe meme coin to provide a fact-based picture of a trending topic.
This decision has sparked backlash within the $PEPE community, with many individuals expressing their disagreement with Coinbase's stance.
Coinbase has since then apologized, with its Chief Legal Officer tweeting, “We screwed up and we are sorry. Yesterday we shared an overview of the $pepe meme coin to provide a fact-based picture of a trending topic.
OpenAI's CEO Sam Altman is in advanced talks to secure $100M for another one of his venture's, Worldcoin, the crypto project that scans your irises to prove that you're not a robot.
Worldcoin's vision is to bring digital identity and global finance to all.
According to Worldcoin's website, Worldcoin will enable the usage of proof of personhood, the equitable global distribution of digital currencies and ultimately a path to AI-funded UBI.
Worldcoin's vision is to bring digital identity and global finance to all.
According to Worldcoin's website, Worldcoin will enable the usage of proof of personhood, the equitable global distribution of digital currencies and ultimately a path to AI-funded UBI.
⚡️ Elizabeth Arden Enters Metaverse with Virtual Store
Beauty brand Elizabeth Arden, which expanded to all Ulta Stores last summer, has launched its first-ever immersive virtual store experience, created in partnership with experiential e-commerce platform Obsess. The fully shoppable experience is designed to delight and engage Elizabeth Arden’s more digitally driven consumer base by allowing customers to experience the brand’s products and learn about the woman behind the brand. “Elizabeth Arden has been a leading beauty industry innovator for the past 120 years and we are thrilled to launch our first metaverse shopping experience in partnership with Obsess,” said Martine Williamson, Global Chief Marketing Officer. “We are truly operating as an omnichannel business to evolve our customer experience and engage a whole new generation of shoppers about our products and legacy through digital storytelling.” The Elizabeth Arden virtual store experience brings the company’s history to life through interactive content and images that tell the story of its inspirational female founder, her impact on the beauty industry and the brand’s evolution.
Beauty brand Elizabeth Arden, which expanded to all Ulta Stores last summer, has launched its first-ever immersive virtual store experience, created in partnership with experiential e-commerce platform Obsess. The fully shoppable experience is designed to delight and engage Elizabeth Arden’s more digitally driven consumer base by allowing customers to experience the brand’s products and learn about the woman behind the brand. “Elizabeth Arden has been a leading beauty industry innovator for the past 120 years and we are thrilled to launch our first metaverse shopping experience in partnership with Obsess,” said Martine Williamson, Global Chief Marketing Officer. “We are truly operating as an omnichannel business to evolve our customer experience and engage a whole new generation of shoppers about our products and legacy through digital storytelling.” The Elizabeth Arden virtual store experience brings the company’s history to life through interactive content and images that tell the story of its inspirational female founder, her impact on the beauty industry and the brand’s evolution.
📣 Subversive Announces Metaverse ETF Closure
Subversive Capital Advisor (the "Advisor" or the "Company"), a Registered Investment Advisor primarily focused on different mission-driven emerging sectors, has announced today that the Board of Trustees (the "Trust") has determined to close and liquidate the Subversive Metaverse ETF (CBOE: PUNK) (the "Fund") effective immediately after the close of business on May 31, 2023. Subversive Capital Advisor will continue to operate its other Exchange Funds as usual. In 2022, the world watched as Meta, formerly Facebook, place a big bet, including its name, on the future of the Metaverse. Subversive Capital Advisor launched the Fund with a skeptical view of Meta's imagining of what that world would look like, and to invest in other companies spearheading innovation in this new space. "We continue to believe Meta's focus is misguided and, we've decided to pivot given the rapid advances in more promising technology such as Artificial Intelligence." said Subversive's portfolio manager, Christian H. Cooper. The Fund's last day of trading will be May 31, 2023, which will also be the final day for creation unit orders by authorized participants.
Subversive Capital Advisor (the "Advisor" or the "Company"), a Registered Investment Advisor primarily focused on different mission-driven emerging sectors, has announced today that the Board of Trustees (the "Trust") has determined to close and liquidate the Subversive Metaverse ETF (CBOE: PUNK) (the "Fund") effective immediately after the close of business on May 31, 2023. Subversive Capital Advisor will continue to operate its other Exchange Funds as usual. In 2022, the world watched as Meta, formerly Facebook, place a big bet, including its name, on the future of the Metaverse. Subversive Capital Advisor launched the Fund with a skeptical view of Meta's imagining of what that world would look like, and to invest in other companies spearheading innovation in this new space. "We continue to believe Meta's focus is misguided and, we've decided to pivot given the rapid advances in more promising technology such as Artificial Intelligence." said Subversive's portfolio manager, Christian H. Cooper. The Fund's last day of trading will be May 31, 2023, which will also be the final day for creation unit orders by authorized participants.
Crypto hardware company Ledger just announced a feature called "Ledger Recover" which has caused an uproar in the crypto community.
The feature allows for an ID-based recovery system to back up users' seed phrases. To use this service, you must provide a passport or national identity card.
The service costs $9.99 to use.
Some have expressed their dismay at a hardware wallet providers encouraging users to back up their seed phrases online.
The feature allows for an ID-based recovery system to back up users' seed phrases. To use this service, you must provide a passport or national identity card.
The service costs $9.99 to use.
Some have expressed their dismay at a hardware wallet providers encouraging users to back up their seed phrases online.
🇨🇳 China prosecutors to crack down on NFTs used as crypto proxies
China's national agency responsible for legal prosecution published a new set of non-fungible token (NFT) guidelines on May 15, warning that NFTs are being used as a proxy for illegal securities and speculative digital assets. The guidelines from the Supreme People's Procuratorate of the People's Republic of China recommend stronger "risk research and judgment" to differentiate between “true innovation” NFTs and quasi-crypto “pseudo-innovation,”. The prosecutors acknowledged that “as a new application of blockchain technology, NFT has certain development potential." However, they also saw a tendency toward “securitization” of NFTs where ownership of one token or collection was shared among multiple individuals, which they claim violated proper NFT criteria such as non-reproducibility, indivisibility and uniqueness. The court found that NFTs “have the object characteristics of property rights such as value, scarcity, controllability, and tradability” and “belong to network virtual property” meaning that they “should be protected by the laws of our country.” Their definition of NFTs set an important and far-reaching precedent for digital property in China.
China's national agency responsible for legal prosecution published a new set of non-fungible token (NFT) guidelines on May 15, warning that NFTs are being used as a proxy for illegal securities and speculative digital assets. The guidelines from the Supreme People's Procuratorate of the People's Republic of China recommend stronger "risk research and judgment" to differentiate between “true innovation” NFTs and quasi-crypto “pseudo-innovation,”. The prosecutors acknowledged that “as a new application of blockchain technology, NFT has certain development potential." However, they also saw a tendency toward “securitization” of NFTs where ownership of one token or collection was shared among multiple individuals, which they claim violated proper NFT criteria such as non-reproducibility, indivisibility and uniqueness. The court found that NFTs “have the object characteristics of property rights such as value, scarcity, controllability, and tradability” and “belong to network virtual property” meaning that they “should be protected by the laws of our country.” Their definition of NFTs set an important and far-reaching precedent for digital property in China.
Apple’s new headset could put a rocket under metaverse tokens
Apple is scheduled to release its highly-anticipated mixed-reality headset in the coming weeks, a development that some believe could breathe fresh life into the metaverse industry. This trend was pointed out in a May 15 tweet from independent developer Udi Wertheimer, who in a backhanded comment to the absurdity of influencer-driven memecoins, spoke of the upcoming release as a potential driver of metaverse token prices.
Decentraland is still in the process of building out its VR capabilities and The Sandbox previously told Cointelegraph it has “no immediate or future plans” to build out VR. Speaking to this point, Gilbert, like many others notes that a fully immersive metaverse experience is probably still a “long way off” especially when looking at the gap between the initial launch of the iPhone and the availability of apps.
Apple is scheduled to release its highly-anticipated mixed-reality headset in the coming weeks, a development that some believe could breathe fresh life into the metaverse industry. This trend was pointed out in a May 15 tweet from independent developer Udi Wertheimer, who in a backhanded comment to the absurdity of influencer-driven memecoins, spoke of the upcoming release as a potential driver of metaverse token prices.
Decentraland is still in the process of building out its VR capabilities and The Sandbox previously told Cointelegraph it has “no immediate or future plans” to build out VR. Speaking to this point, Gilbert, like many others notes that a fully immersive metaverse experience is probably still a “long way off” especially when looking at the gap between the initial launch of the iPhone and the availability of apps.
📣 Zombie-themed Deadfellaz NFTs Let You Bring the Avatars to Life on Video
DFZ Labs, the creative team behind zombie themed non-fungible token (NFT) collection Deadfellaz said Friday its rolling out a video utility extension to allow community members to bring their tokens to life and embody their avatars on screen. Called Streamingfellaz, the tool will let Deadfellaz token holders, also known as The Horde, to utlize the collection’s intellectual property (IP) beyond the artwork itself. Betty, CEO & Co-Founder of DFZ LABS said in a press release that Streamingfellaz will further extend Deadfellaz’ mission of giving holders a Web3 digital identity and new modes of self-expression. One member of The Horde, Dead Channel, was able to beta test the new tool and was enthusiastic about the product. “It’s been great bringing my full Web3 identity to life with my Streamingfella. Like many in the Horde: I am my fella, and my fella is me!” Dead Channel said in the release. Deadfellaz has been keen on expanding its IP beyond its digital artwork since its inception. In October, the collection teamed up with popular DJ and NFT collector Steve Aoki.
DFZ Labs, the creative team behind zombie themed non-fungible token (NFT) collection Deadfellaz said Friday its rolling out a video utility extension to allow community members to bring their tokens to life and embody their avatars on screen. Called Streamingfellaz, the tool will let Deadfellaz token holders, also known as The Horde, to utlize the collection’s intellectual property (IP) beyond the artwork itself. Betty, CEO & Co-Founder of DFZ LABS said in a press release that Streamingfellaz will further extend Deadfellaz’ mission of giving holders a Web3 digital identity and new modes of self-expression. One member of The Horde, Dead Channel, was able to beta test the new tool and was enthusiastic about the product. “It’s been great bringing my full Web3 identity to life with my Streamingfella. Like many in the Horde: I am my fella, and my fella is me!” Dead Channel said in the release. Deadfellaz has been keen on expanding its IP beyond its digital artwork since its inception. In October, the collection teamed up with popular DJ and NFT collector Steve Aoki.
🖼 Pudgy Penguins wants to use its NFT-inspired toys to bring IP to the real world
Pudgy Penguins, an (admittedly adorable) NFT collection that also doubles as a web3 IP company, is releasing a line of toys dubbed Pudgy Toys, Luca Netz, CEO of the company, told TechCrunch+ in an exclusive interview. As the NFT sector continues to waddle through a period of frosty consumer interest, some collections are diving deep, exploring new waters and expanding their horizons to the physical realm in hopes of reaching more people and growing their brand. The penguin plushies are being made in collaboration with PMI, which also produces toys for Fortnite and Among Us, Netz said. The company sees physical toys as a “Trojan horse” for the web3 ecosystem and NFTs. “Unfortunately, NFT revenue is not sustainable and it’s not really growable,” Netz acknowledged, adding that the toys are meant to make the company more sustainable. “Secondly, we wanted to create an IP that transcends this ecosystem, and the way I know how to do that is through physical products.”. Launched in 2021 and acquired by Netz in April 2022, the 8,888-NFT collection has grown to include real-world products.
Pudgy Penguins, an (admittedly adorable) NFT collection that also doubles as a web3 IP company, is releasing a line of toys dubbed Pudgy Toys, Luca Netz, CEO of the company, told TechCrunch+ in an exclusive interview. As the NFT sector continues to waddle through a period of frosty consumer interest, some collections are diving deep, exploring new waters and expanding their horizons to the physical realm in hopes of reaching more people and growing their brand. The penguin plushies are being made in collaboration with PMI, which also produces toys for Fortnite and Among Us, Netz said. The company sees physical toys as a “Trojan horse” for the web3 ecosystem and NFTs. “Unfortunately, NFT revenue is not sustainable and it’s not really growable,” Netz acknowledged, adding that the toys are meant to make the company more sustainable. “Secondly, we wanted to create an IP that transcends this ecosystem, and the way I know how to do that is through physical products.”. Launched in 2021 and acquired by Netz in April 2022, the 8,888-NFT collection has grown to include real-world products.
💰 Bitcoin Frogs Best Selling NFT for 24-Hrs as BTC Catches Pepe Mania
The ordinals are coming in dank this week. Bitcoin Frogs was the #1 selling NFT collection for the 24-hour period on Wednesday. Frogs sales outpaced Bored Apes Yacht Club, CryptoPunks, and other popular collections for the day. The BRC-20 memecoin project describes itself as “10,000 unique frog collectibles minted directly on the Bitcoin Blockchain.” As of publication time, 3,700 frogs had owners. Meanwhile, hundreds were listed for sale on NFT marketplaces. According to data from CryptoSlam, a leading aggregator of on-chain NFT analytics, Bitcoin Frogs sales reached a trading volume above $2.2 million for the day. Frogs outsold Bored Apes NFTs for Wednesday, May 17th. Some of the BAYC sellers may have even been cashing out to buy PEPE Coin in the meanwhile. There’s been a lot of that going on during this season of Pepe fever. CryptoSlam data shows Bitcoin Frogs selling for an average price of 0.12 BTC (around $3,200 USD) on Wednesday. The PEPE-inspired boom in sales overtook Bored Apes Yacht Club despite the higher average sale price of around $83,000 for the blue-chip NFT. The inclusion of cool NFT features like generative AI to produce unique properties in each mint brings the artistry of smart contract minting to the Bitcoin blockchain.
The ordinals are coming in dank this week. Bitcoin Frogs was the #1 selling NFT collection for the 24-hour period on Wednesday. Frogs sales outpaced Bored Apes Yacht Club, CryptoPunks, and other popular collections for the day. The BRC-20 memecoin project describes itself as “10,000 unique frog collectibles minted directly on the Bitcoin Blockchain.” As of publication time, 3,700 frogs had owners. Meanwhile, hundreds were listed for sale on NFT marketplaces. According to data from CryptoSlam, a leading aggregator of on-chain NFT analytics, Bitcoin Frogs sales reached a trading volume above $2.2 million for the day. Frogs outsold Bored Apes NFTs for Wednesday, May 17th. Some of the BAYC sellers may have even been cashing out to buy PEPE Coin in the meanwhile. There’s been a lot of that going on during this season of Pepe fever. CryptoSlam data shows Bitcoin Frogs selling for an average price of 0.12 BTC (around $3,200 USD) on Wednesday. The PEPE-inspired boom in sales overtook Bored Apes Yacht Club despite the higher average sale price of around $83,000 for the blue-chip NFT. The inclusion of cool NFT features like generative AI to produce unique properties in each mint brings the artistry of smart contract minting to the Bitcoin blockchain.
NFT Marketplaces Diminish in Ethereum Gas Use Amid Fee Crisis
Ethereum’s gas consumption patterns, Non-Fungible Tokens (NFTs) no longer reign as the top gas guzzlers on the network. Data from the crypto analytics platform Nansen revealed that last week, NFT marketplaces accounted for just over 3% of all gas consumption. In stark contrast, the decentralized exchange Uniswap used more than ten times that amount, clocking in at 31.99%.
The Ethereum network’s congestion and high gas prices are attributed, in part, to intense activity caused by a surge in meme coin trading, such as PEPE tokens and Floki Inu. This led to an overflow of transactions and, subsequently, skyrocketing gas prices.Layer 2 solutions, such as state channels, plasma chains, and rollups, aim to offload some computational workloads from the main Ethereum blockchain reducing the need for gas. One trader was reported to have paid as much as 64 ETH.
Ethereum’s gas consumption patterns, Non-Fungible Tokens (NFTs) no longer reign as the top gas guzzlers on the network. Data from the crypto analytics platform Nansen revealed that last week, NFT marketplaces accounted for just over 3% of all gas consumption. In stark contrast, the decentralized exchange Uniswap used more than ten times that amount, clocking in at 31.99%.
The Ethereum network’s congestion and high gas prices are attributed, in part, to intense activity caused by a surge in meme coin trading, such as PEPE tokens and Floki Inu. This led to an overflow of transactions and, subsequently, skyrocketing gas prices.Layer 2 solutions, such as state channels, plasma chains, and rollups, aim to offload some computational workloads from the main Ethereum blockchain reducing the need for gas. One trader was reported to have paid as much as 64 ETH.
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🖼 NFT Artist and Collector OSF: 'NFTs Are Just a Medium'
London’s House of Fine Art (HOFA) gallery is one of the pioneers of the crypto art scene, being one of the first venues to showcase NFT artworks in a physical space back in 2021. Back then, it took a somewhat conservative approach, focusing on prints of CryptoPunks alongside physical sculptures and NFT-adjacent work. This time around, its "Beyond the Screen" exhibition is dialing up the digital element, with vibrant screens displaying eye-popping animated work by the likes of XCOPY. NFTs are “just a medium,” said NFT artist and collector Ovie Faruq, aka OSF, who showed Decrypt around the space. “It's just like, do I have my painting on an oil canvas, or do I have a photograph? Or do I have a screen displaying some digital art? It's just a canvas; it's just a mechanism to transact,” he added. Ultimately, he argued, “people will start buying NFTs without knowing they're NFTs. And that's the sort of thing that will get us over this, like, stigma that's attached to it.” OSF’s own contribution to the exhibition, “Super Fan,” inadvertently predicted the current PEPE-led memecoin market frenzy. The digital artwork, which OSF drew “two or three months ago,” features a “kind of loner character” who’s obsessed with Pepe the Frog, and surrounded by market charts showing green and red candles.
London’s House of Fine Art (HOFA) gallery is one of the pioneers of the crypto art scene, being one of the first venues to showcase NFT artworks in a physical space back in 2021. Back then, it took a somewhat conservative approach, focusing on prints of CryptoPunks alongside physical sculptures and NFT-adjacent work. This time around, its "Beyond the Screen" exhibition is dialing up the digital element, with vibrant screens displaying eye-popping animated work by the likes of XCOPY. NFTs are “just a medium,” said NFT artist and collector Ovie Faruq, aka OSF, who showed Decrypt around the space. “It's just like, do I have my painting on an oil canvas, or do I have a photograph? Or do I have a screen displaying some digital art? It's just a canvas; it's just a mechanism to transact,” he added. Ultimately, he argued, “people will start buying NFTs without knowing they're NFTs. And that's the sort of thing that will get us over this, like, stigma that's attached to it.” OSF’s own contribution to the exhibition, “Super Fan,” inadvertently predicted the current PEPE-led memecoin market frenzy. The digital artwork, which OSF drew “two or three months ago,” features a “kind of loner character” who’s obsessed with Pepe the Frog, and surrounded by market charts showing green and red candles.
