🖼 BEET VAN SWIM Announces His First NFT Collection, Challenging Modern Art Consumption Behaviors
BEET VAN SWIM, an artist based in Ibaraki Prefecture, Japan, has announced his first NFT collection, "DIGITAL FINE ART," on the NFT marketplace Foundation. The collection features 10 conceptual paintings, each showcasing a unique artistic identity. The floor price of the collection is set at 2.24 ETH (approximately $1,800 USD at current rates). To purchase these limited NFTs, virtual currency wallets, such as MetaMask, need to be connected to the Foundation marketplace. Born in 1962, BEET VAN SWIM is an art creator based in Ibaraki Prefecture, Japan. His creative journey began at the age of 20, and he studied painting techniques at the School of Fine Arts in New York from 1994 to 1996. While BEET VAN SWIM has been actively involved in analog painting throughout his long artistic career, he embarked on digital artwork creation around 2020. Through the "DIGITAL FINE ART" collection, BEET VAN SWIM has skillfully merged his scrupulous painting techniques, developed over almost four decades, with digital technology to establish a distinctive and avant-garde artistic style. BEET VAN SWIM interprets this collection as a means to challenge a sense of loss towards contemporary consumer behaviors, dominated by the digital technology.
BEET VAN SWIM, an artist based in Ibaraki Prefecture, Japan, has announced his first NFT collection, "DIGITAL FINE ART," on the NFT marketplace Foundation. The collection features 10 conceptual paintings, each showcasing a unique artistic identity. The floor price of the collection is set at 2.24 ETH (approximately $1,800 USD at current rates). To purchase these limited NFTs, virtual currency wallets, such as MetaMask, need to be connected to the Foundation marketplace. Born in 1962, BEET VAN SWIM is an art creator based in Ibaraki Prefecture, Japan. His creative journey began at the age of 20, and he studied painting techniques at the School of Fine Arts in New York from 1994 to 1996. While BEET VAN SWIM has been actively involved in analog painting throughout his long artistic career, he embarked on digital artwork creation around 2020. Through the "DIGITAL FINE ART" collection, BEET VAN SWIM has skillfully merged his scrupulous painting techniques, developed over almost four decades, with digital technology to establish a distinctive and avant-garde artistic style. BEET VAN SWIM interprets this collection as a means to challenge a sense of loss towards contemporary consumer behaviors, dominated by the digital technology.
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Exciting news awaits this month as the Doodles x Crocs collaboration is set to launch.
With the anticipated arrival of August 2023, this unique collection will introduce shoes, wearables, and jibbitz.
With the anticipated arrival of August 2023, this unique collection will introduce shoes, wearables, and jibbitz.
🔫 Roblox has potential to become master of the metaverse
The metaverse is a virtual world that allows people to participate directly in online experiences. Roblox (NYSE: RBLX) has established itself as an early leader in the metaverse space, with the potential to become one of the biggest players in entertainment and social media. Roblox is a platform housing a range of individual games and social opportunities, and it adds content regularly. Participants earn in-game currency that can be exchanged for real-world money based on user interactions with their creations. First launched in 2006, Roblox has increased engagement and monetization. The average number of active users on the platform daily rose 22% year over year in the first quarter, reaching 66 million, while revenue climbed 22% year over year, to $655 million. Roblox is likely years away from profitability, as it’s still spending a lot of money in order to grow. It does have a strong balance sheet, though, having ended the first quarter with roughly $2.1 billion in cash, cash equivalents and investments net of debt. It looks like a buy-and-hold stock for long-term, growth-focused investors to consider. (The Motley Fool owns shares of and has recommended Roblox.)
The metaverse is a virtual world that allows people to participate directly in online experiences. Roblox (NYSE: RBLX) has established itself as an early leader in the metaverse space, with the potential to become one of the biggest players in entertainment and social media. Roblox is a platform housing a range of individual games and social opportunities, and it adds content regularly. Participants earn in-game currency that can be exchanged for real-world money based on user interactions with their creations. First launched in 2006, Roblox has increased engagement and monetization. The average number of active users on the platform daily rose 22% year over year in the first quarter, reaching 66 million, while revenue climbed 22% year over year, to $655 million. Roblox is likely years away from profitability, as it’s still spending a lot of money in order to grow. It does have a strong balance sheet, though, having ended the first quarter with roughly $2.1 billion in cash, cash equivalents and investments net of debt. It looks like a buy-and-hold stock for long-term, growth-focused investors to consider. (The Motley Fool owns shares of and has recommended Roblox.)
Yue Minjun to Release Laughing Head NFTs
Chinese political pop artist Yue Minjun will bring his trademark laughing figures to the digital realm for the first time with the collection Kingdom of the Laughing Man. 'I've explored numerous media with my art over the years,' Yue said in a statement. 'This new digital frontier excites me the most as I can bring my art to life in a way that I haven't been able to with physical media.' . Alongside Fang Lijun and Liu Wei, both of whom have previously produced NFTs of their own.
The Kingdom of the Laughing Man collection will launch with 'Boundless', a series of 1,200 unique NFTs in the PFP (Profile Picture) format made popular by Cryptopunks and the Bored Ape Yacht Club.The first drop from Yue's collection will take place on 8 August on the LiveArt platform.
Chinese political pop artist Yue Minjun will bring his trademark laughing figures to the digital realm for the first time with the collection Kingdom of the Laughing Man. 'I've explored numerous media with my art over the years,' Yue said in a statement. 'This new digital frontier excites me the most as I can bring my art to life in a way that I haven't been able to with physical media.' . Alongside Fang Lijun and Liu Wei, both of whom have previously produced NFTs of their own.
The Kingdom of the Laughing Man collection will launch with 'Boundless', a series of 1,200 unique NFTs in the PFP (Profile Picture) format made popular by Cryptopunks and the Bored Ape Yacht Club.The first drop from Yue's collection will take place on 8 August on the LiveArt platform.
🖼 Gala Games Releases NFT Mystery Boxes to Commemorate Inventory Migrating to 'GalaChain'
Gala Games, a pioneering platform in web3 gaming, announced today that they will be relocating unsold and reserve NFT game items from the Ethereum network to their newly launched proprietary blockchain, GalaChain. This move will allow gamers to use their NFTs without Ethereum gas fees and allow Gala Games to implement more robust web3 functionality within titles on the platform. As part of this move, Gala Games will offer various tiers of all new NFT Mystery Boxes to players featuring game items no longer available in the Gala Games Store. Each box contains three random game items from various titles in the Gala Games Ecosystem. All items within will be tokens on GalaChain, which currently can be transferred within the chain or utilized with zero gas fees, allowing the creation of these NFT Mystery Boxes, which would otherwise require significant gas to mint, distribute and reveal on the Ethereum Network. Gala Games is a leader in web3 entertainment dedicated to creating AAA game experiences that realize the full power of player ownership. Gala Games is powered by one of the largest networks of player operated.
Gala Games, a pioneering platform in web3 gaming, announced today that they will be relocating unsold and reserve NFT game items from the Ethereum network to their newly launched proprietary blockchain, GalaChain. This move will allow gamers to use their NFTs without Ethereum gas fees and allow Gala Games to implement more robust web3 functionality within titles on the platform. As part of this move, Gala Games will offer various tiers of all new NFT Mystery Boxes to players featuring game items no longer available in the Gala Games Store. Each box contains three random game items from various titles in the Gala Games Ecosystem. All items within will be tokens on GalaChain, which currently can be transferred within the chain or utilized with zero gas fees, allowing the creation of these NFT Mystery Boxes, which would otherwise require significant gas to mint, distribute and reveal on the Ethereum Network. Gala Games is a leader in web3 entertainment dedicated to creating AAA game experiences that realize the full power of player ownership. Gala Games is powered by one of the largest networks of player operated.
⬜️ OKX Wallet Users Can Now Access Origin Protocol, an NFT and DeFi Platform
OKX, a leading Web3 technology company, has issued updates for August 8, 2023. OKX Wallet has now integrated with Origin Protocol, a Web3 protocol that aims to bring NFTs and DeFi to the masses. With this integration, OKX Wallet users can access Origin Protocol's solutions - such as its NFT launchpad and Ethereum liquid staking capabilities - via web extension. OKX Wallet Users Can Now Access Origin Protocol, an NFT and DeFi Platform OKX Wallet is a universal crypto wallet available on multiple platforms and interfaces, including app, web and web extension. It enables users access to 3,000+ cryptocurrencies, 60+ networks, thousands of DApps and a one-stop decentralized NFT Marketplace. On 7 August, 2023, OKX Wallet announced that its account abstraction-powered Smart Account, which enables users to pay for transactions with stablecoins USDC and USDT and interact with multiple contracts in a single transaction, is now open source across seven blockchains. A leading global technology company driving the future of Web3, OKX provides a comprehensive suite of products to meet the needs of beginners and experts alike.
OKX, a leading Web3 technology company, has issued updates for August 8, 2023. OKX Wallet has now integrated with Origin Protocol, a Web3 protocol that aims to bring NFTs and DeFi to the masses. With this integration, OKX Wallet users can access Origin Protocol's solutions - such as its NFT launchpad and Ethereum liquid staking capabilities - via web extension. OKX Wallet Users Can Now Access Origin Protocol, an NFT and DeFi Platform OKX Wallet is a universal crypto wallet available on multiple platforms and interfaces, including app, web and web extension. It enables users access to 3,000+ cryptocurrencies, 60+ networks, thousands of DApps and a one-stop decentralized NFT Marketplace. On 7 August, 2023, OKX Wallet announced that its account abstraction-powered Smart Account, which enables users to pay for transactions with stablecoins USDC and USDT and interact with multiple contracts in a single transaction, is now open source across seven blockchains. A leading global technology company driving the future of Web3, OKX provides a comprehensive suite of products to meet the needs of beginners and experts alike.
PayPal has launched a US dollar stablecoin, known as PayPal USD, in a bid to boost the adoption of digital currencies for payments and transfers.
PayPal USD is backed by US dollar deposits and short-term US Treasuries.
It will gradually become available to all PayPal customers in the United States.
PayPal USD is backed by US dollar deposits and short-term US Treasuries.
It will gradually become available to all PayPal customers in the United States.
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🖼 Cryptopunks and Blue Chips Power Top NFT Traders to Over $300 Million in Profits
In its latest NFT analysis, Coingecko details that the top traders in the NFT arena have earned between $3.3 million and $101.6 million individually, cumulatively exceeding $300 million. The report explains the strategic investment choices and collections that have fueled the success of the foremost NFT traders. Delving into the profits of the top 100 Ethereum NFT traders, Coingecko’s study discloses the most significant victors of the market thus far. This analysis focuses on traders’ realized profits, meaning the tangible earnings secured through NFT sales. To qualify for this elite list of 100, traders were required to exhibit consistent activity over the past half-year and possession of no fewer than two collections. The study illustrates that the leading NFT traders predominantly wagered on blue chip NFT collections at an early stage, an investment that has subsequently skyrocketed in value. Notably, Larva Labs’ Cryptopunks constitute an astonishing 70.6% of total profits for the top 15, followed by Art Blocks’ generative art at 12.2% and Bored Ape Yacht Club at 5.5%. Of the 15 top earners, 11 have extracted millions solely from Cryptopunks. For instance, trader 0x7eb2..3f6b clinched fifth place chiefly by selling one specific Cryptopunk to a renowned buyer. Conversely, some elite traders, such as Akira, directed their focus more towards Art Blocks.
In its latest NFT analysis, Coingecko details that the top traders in the NFT arena have earned between $3.3 million and $101.6 million individually, cumulatively exceeding $300 million. The report explains the strategic investment choices and collections that have fueled the success of the foremost NFT traders. Delving into the profits of the top 100 Ethereum NFT traders, Coingecko’s study discloses the most significant victors of the market thus far. This analysis focuses on traders’ realized profits, meaning the tangible earnings secured through NFT sales. To qualify for this elite list of 100, traders were required to exhibit consistent activity over the past half-year and possession of no fewer than two collections. The study illustrates that the leading NFT traders predominantly wagered on blue chip NFT collections at an early stage, an investment that has subsequently skyrocketed in value. Notably, Larva Labs’ Cryptopunks constitute an astonishing 70.6% of total profits for the top 15, followed by Art Blocks’ generative art at 12.2% and Bored Ape Yacht Club at 5.5%. Of the 15 top earners, 11 have extracted millions solely from Cryptopunks. For instance, trader 0x7eb2..3f6b clinched fifth place chiefly by selling one specific Cryptopunk to a renowned buyer. Conversely, some elite traders, such as Akira, directed their focus more towards Art Blocks.
FBI warns of scammers posing as NFT devs to steal your crypto
The FBI warned today of fraudsters posing as Non-Fungible Token (NFT) developers to prey upon NFT enthusiasts and steal their cryptocurrency and NFT assets. In these attacks, the criminals gain unauthorized access to NFT developer social media accounts or create nearly identical accounts to promote "exclusive" NFT releases. This allows them to lure targets with misleading claims of "limited supply," labeling the promotions as "surprises".
Unsuspecting victims click on the provided links only to be redirected to phishing websites that masquerade as legitimate extensions of specific NFT projects. FBI urges NFT enthusiasts to exercise caution when engaging in NFT-related activities:
The FBI warned today of fraudsters posing as Non-Fungible Token (NFT) developers to prey upon NFT enthusiasts and steal their cryptocurrency and NFT assets. In these attacks, the criminals gain unauthorized access to NFT developer social media accounts or create nearly identical accounts to promote "exclusive" NFT releases. This allows them to lure targets with misleading claims of "limited supply," labeling the promotions as "surprises".
Unsuspecting victims click on the provided links only to be redirected to phishing websites that masquerade as legitimate extensions of specific NFT projects. FBI urges NFT enthusiasts to exercise caution when engaging in NFT-related activities:
🖼 Illuminati Capital Eyes Web3 Games and NFT Infrastructure with New $50M Fund
Illuminati Capital has announced a new $50 million fund to be deployed in the web3 ecosystem. The venture capital firm said the funds were raised privately by the partners, who include web3 investors, a marketing expert, and an accomplished angel investor, among others. The VC’s founders previously invested in Justin Kan’s Fractal, web3 wallet infrastructure platform Web3Auth, and Cross the Ages NFT game, among others. The venture capital firm plans to invest in blockchain games, NFT infrastructure, DeFi and more. According to press material shared with NFTgators, the venture capital firm is comprised of partners of diverse backgrounds, who enable it to “provide targeted advice and actively engage with founders.” The partners individually invested a total of $30 million in different web3 projects, which grew to over $150 million, valuing the combined portfolio companies at $1 billion by the time they exited. “The possibilities of decentralized technology are endless,” commented Dhaval Parikh, Partner at Illuminati Capital and blockchain investor with over five years of experience in web3. “With a background in VC, I will focus on due diligence, risk assessment, portfolio management, and deal flow while analyzing industry trends and key ecosystem insights.”
Illuminati Capital has announced a new $50 million fund to be deployed in the web3 ecosystem. The venture capital firm said the funds were raised privately by the partners, who include web3 investors, a marketing expert, and an accomplished angel investor, among others. The VC’s founders previously invested in Justin Kan’s Fractal, web3 wallet infrastructure platform Web3Auth, and Cross the Ages NFT game, among others. The venture capital firm plans to invest in blockchain games, NFT infrastructure, DeFi and more. According to press material shared with NFTgators, the venture capital firm is comprised of partners of diverse backgrounds, who enable it to “provide targeted advice and actively engage with founders.” The partners individually invested a total of $30 million in different web3 projects, which grew to over $150 million, valuing the combined portfolio companies at $1 billion by the time they exited. “The possibilities of decentralized technology are endless,” commented Dhaval Parikh, Partner at Illuminati Capital and blockchain investor with over five years of experience in web3. “With a background in VC, I will focus on due diligence, risk assessment, portfolio management, and deal flow while analyzing industry trends and key ecosystem insights.”
🖼 holoride, XOXNO Launch NFT Rewards to Scale In-Car XR Gaming
Extended reality (XR) vehicle entertainment system provider holoride has teamed up with XOXNO, a massive marketplace for non-fungible tokens (NFT) on the MultiversX platform. It will also host randomly-generated Skyjack characters for platform users to boost collaboration among holoride’s user base. Also, the joint effort will provide payments for buying and selling NFTs using holoride’s RIDE token. holoride will burn tokens at the end of each quarter to reduce RIDE supplies. XOXNO is the largest marketplace and aggregator on the MultiversX platform. The latter is the first blockchain protocol to merge an adaptive architecture’s state, network, and transaction-sharding aspects. For its users, they receive the top level of scalability and security for their web3 needs. The platform’s versatility, scalability, and architecture attracted holoride to pick it as its preferred supplier. The staking programme will also provide holoride users with rewards, and it plans to unlock further rewards in the coming months. NFT collection sales will also take place on the XOXNO platform, building online gaming communities and expanding holoride’s outreach in the industry.
Extended reality (XR) vehicle entertainment system provider holoride has teamed up with XOXNO, a massive marketplace for non-fungible tokens (NFT) on the MultiversX platform. It will also host randomly-generated Skyjack characters for platform users to boost collaboration among holoride’s user base. Also, the joint effort will provide payments for buying and selling NFTs using holoride’s RIDE token. holoride will burn tokens at the end of each quarter to reduce RIDE supplies. XOXNO is the largest marketplace and aggregator on the MultiversX platform. The latter is the first blockchain protocol to merge an adaptive architecture’s state, network, and transaction-sharding aspects. For its users, they receive the top level of scalability and security for their web3 needs. The platform’s versatility, scalability, and architecture attracted holoride to pick it as its preferred supplier. The staking programme will also provide holoride users with rewards, and it plans to unlock further rewards in the coming months. NFT collection sales will also take place on the XOXNO platform, building online gaming communities and expanding holoride’s outreach in the industry.
Google and Universal Music Group are in the early stages of discussions centering around how fans can legitimately use and license artists’ voices and other soundbits for songs that are generated by AI.
These issues first came to light when an AI-generated song using the voices of Drake and The Weeknd went viral earlier this year, forcing UMG to have the song removed from streaming platforms on the basis of copyright infringement.
So far, we’ve seen AI-generated content that has used the voices of Frank Sinatra, Drake, The Weeknd, Juice WRLD, Grimes, Paul McCartney, Ice Cube, and more, who have all expressed different sentiments on having their voices used without permission.
As for this tool that is currently in the works between Google and UMG, the idea is that fans would be able to create these AI-generated tracks legitimately, where copyright owners would be paid for the use of their voice, lyrics, or other sounds.
These issues first came to light when an AI-generated song using the voices of Drake and The Weeknd went viral earlier this year, forcing UMG to have the song removed from streaming platforms on the basis of copyright infringement.
So far, we’ve seen AI-generated content that has used the voices of Frank Sinatra, Drake, The Weeknd, Juice WRLD, Grimes, Paul McCartney, Ice Cube, and more, who have all expressed different sentiments on having their voices used without permission.
As for this tool that is currently in the works between Google and UMG, the idea is that fans would be able to create these AI-generated tracks legitimately, where copyright owners would be paid for the use of their voice, lyrics, or other sounds.
🖼 NFT market crash unveils tech's limitations in addressing exploitative labor practices
The NFT market continues its ongoing plunge, reminding us that we cannot trust technology to save us from the exploitative labor market. According to a report by Alchemy, NFT trading volume in July fell by 29%, compared to June, to $632 million, and token sales fell by 23% to $3.7 million. Overall, this market recorded a steep fall of 95% in trading volume from the record in January 2022, which reached $17 billion. NFT is a device whose purpose is to answer the question of what ownership looks like in digital spaces. Technically, it is a certificate of authenticity on the blockchain system, which allows those who produce it to mark a certain digital asset as unique. The token comes in the form of a cryptocurrency, and every time that coin is sold its creator is supposed to receive royalties on the sale. This is in contrast to if a painter, for example, sells an oil painting they painted, then they will only receive their share in the initial sale. If the painting changes hands and is sold to different buyers, that painter will get nothing. The relationship between the NFT market and the media was mutual. The large amount of speculative money that flowed into the field drove media interest.
The NFT market continues its ongoing plunge, reminding us that we cannot trust technology to save us from the exploitative labor market. According to a report by Alchemy, NFT trading volume in July fell by 29%, compared to June, to $632 million, and token sales fell by 23% to $3.7 million. Overall, this market recorded a steep fall of 95% in trading volume from the record in January 2022, which reached $17 billion. NFT is a device whose purpose is to answer the question of what ownership looks like in digital spaces. Technically, it is a certificate of authenticity on the blockchain system, which allows those who produce it to mark a certain digital asset as unique. The token comes in the form of a cryptocurrency, and every time that coin is sold its creator is supposed to receive royalties on the sale. This is in contrast to if a painter, for example, sells an oil painting they painted, then they will only receive their share in the initial sale. If the painting changes hands and is sold to different buyers, that painter will get nothing. The relationship between the NFT market and the media was mutual. The large amount of speculative money that flowed into the field drove media interest.
🖼 Coca-Cola Released A New Series Of NFTs On The Layer 2 Base
In Layer 2 Base’s Onchain Summer Program, a prominent appearance will be the Coca-Cola “Masterpiece” NFT set, with a mint expiration date of August 16 and a price from 0.001 – 0.014 ETH/NFT. The Onchain Summer program, which celebrates the launch of the Base mainnet, is a series of Web3 events related to art, games, and music. Between now and the end of August, more than 50 brands, including Coca-Cola, Friends With Benefits – a social decentralized autonomous organization (DAO), and NFT creation platform Zora, will hold the launch NFT on the Base network. In a year where NFT trading volume has fallen almost 50% since January, Web3 projects are struggling to scale. Jesse Pollak, Protocols Lead at Coinbase, told CoinDesk that Onchain Summer aims to showcase how NFTs can be leveraged as a technology rather than just a speculative asset. Since the announcement was made, Base has received quite a bit of public attention. Typically, the total locked value (TVL) of this layer2 exceeded $118 million, ranking 19th in the rankings. Currently, there are over 100 dApps on Base, some of which are created by developers who received early access last month. Coinbase is encouraging users to connect their ether to Base for free minting of NFT to celebrate the launch of the Base mainnet.
In Layer 2 Base’s Onchain Summer Program, a prominent appearance will be the Coca-Cola “Masterpiece” NFT set, with a mint expiration date of August 16 and a price from 0.001 – 0.014 ETH/NFT. The Onchain Summer program, which celebrates the launch of the Base mainnet, is a series of Web3 events related to art, games, and music. Between now and the end of August, more than 50 brands, including Coca-Cola, Friends With Benefits – a social decentralized autonomous organization (DAO), and NFT creation platform Zora, will hold the launch NFT on the Base network. In a year where NFT trading volume has fallen almost 50% since January, Web3 projects are struggling to scale. Jesse Pollak, Protocols Lead at Coinbase, told CoinDesk that Onchain Summer aims to showcase how NFTs can be leveraged as a technology rather than just a speculative asset. Since the announcement was made, Base has received quite a bit of public attention. Typically, the total locked value (TVL) of this layer2 exceeded $118 million, ranking 19th in the rankings. Currently, there are over 100 dApps on Base, some of which are created by developers who received early access last month. Coinbase is encouraging users to connect their ether to Base for free minting of NFT to celebrate the launch of the Base mainnet.
Bored Ape Yacht Club collectors sue Sotheby’s over NFTs auction
Sotheby’s was named as a defendant in a class action lawsuit filed in California last week alongside Yuga Labs, the creators of the Bored Ape Yacht Club NFTs. In the lawsuit, a group of investors claim they were misled about the NFTs, which feature colourful illustrated apes produced by an algorithm and peaked in value in late 2021. In September of that year, Sotheby’s sold 101 Bored Ape Yacht Club NFTs in an online auction for $24m against a $12m to $18m pre-sale estimate.
The lawsuit claims Sotheby’s played a part to “deceptively promote the artificially inflated” value of the NFTs. Sotheby’s endorsement of the NFTs helped Yuga Labs gain a sense of legitimacy among traditional collectors, according to the lawsuit, while attracting a younger audience.
Sotheby’s was named as a defendant in a class action lawsuit filed in California last week alongside Yuga Labs, the creators of the Bored Ape Yacht Club NFTs. In the lawsuit, a group of investors claim they were misled about the NFTs, which feature colourful illustrated apes produced by an algorithm and peaked in value in late 2021. In September of that year, Sotheby’s sold 101 Bored Ape Yacht Club NFTs in an online auction for $24m against a $12m to $18m pre-sale estimate.
The lawsuit claims Sotheby’s played a part to “deceptively promote the artificially inflated” value of the NFTs. Sotheby’s endorsement of the NFTs helped Yuga Labs gain a sense of legitimacy among traditional collectors, according to the lawsuit, while attracting a younger audience.
🖼 FarmVille Creator Zynga Reveals First Ethereum NFT Game: Sugartown
Prominent casual and mobile game publisher Zynga announced today that its first blockchain game is called Sugartown, which will utilize Ethereum NFTs. In Sugartown, three farm animals have opened a wormhole from another dimension. Creatures called Oras have crossed through this wormhole and turned Sugartown into a fun, gamified world. The game will be released at “a later date” and will be playable via web browsers only, a Zynga representative told Decrypt via email. Zynga will release 10,000 Ora NFTs sometime later this year, and they will be required for players to enter the game. The Ora NFTs will give players access to the experience and the free-to-play minigames within Sugartown. Players will also be able to lock up or “stake” their Ora NFTs to accumulate Sugar, a non-crypto, in-game currency. “Our ambition is to empower players through a sustainable Web3 platform full of fun and enduring games,” Zynga Vice President of Web3 Gaming Matt Wolf said in a statement. “We created Sugartown to appeal to a native Web3 market,” he added, “but with the ambition of scaling much wider over time while we build a passionate and engaged community of holders we hope will enjoy this experience as much as we loved bringing it to life.”
Prominent casual and mobile game publisher Zynga announced today that its first blockchain game is called Sugartown, which will utilize Ethereum NFTs. In Sugartown, three farm animals have opened a wormhole from another dimension. Creatures called Oras have crossed through this wormhole and turned Sugartown into a fun, gamified world. The game will be released at “a later date” and will be playable via web browsers only, a Zynga representative told Decrypt via email. Zynga will release 10,000 Ora NFTs sometime later this year, and they will be required for players to enter the game. The Ora NFTs will give players access to the experience and the free-to-play minigames within Sugartown. Players will also be able to lock up or “stake” their Ora NFTs to accumulate Sugar, a non-crypto, in-game currency. “Our ambition is to empower players through a sustainable Web3 platform full of fun and enduring games,” Zynga Vice President of Web3 Gaming Matt Wolf said in a statement. “We created Sugartown to appeal to a native Web3 market,” he added, “but with the ambition of scaling much wider over time while we build a passionate and engaged community of holders we hope will enjoy this experience as much as we loved bringing it to life.”
