OKcontract joins the Sandbox for Metaverse Assets
The Sandbox, a leading decentralized virtual world with over 400 global partners, initiated its Partners Day event in Singapore on June 27.One of the notable additions to The Sandbox’s Singapore ecosystem was OKcontract, a new Ecosystem Partner based in Singapore.
The showcased OKcontract widgets offer a dynamic solution for partners, enabling the seamless integration of NFT minting functionalities into landing pages. By copying and pasting the widget’s HTML code, brands, and games can transform their landing pages into Web3 native channels, allowing users to directly mint and acquire metaverse NFTs. This not only simplifies the NFT acquisition process but also serves as a promotional tool, enhancing user engagement and immersion in the metaverse.
The Sandbox, a leading decentralized virtual world with over 400 global partners, initiated its Partners Day event in Singapore on June 27.One of the notable additions to The Sandbox’s Singapore ecosystem was OKcontract, a new Ecosystem Partner based in Singapore.
The showcased OKcontract widgets offer a dynamic solution for partners, enabling the seamless integration of NFT minting functionalities into landing pages. By copying and pasting the widget’s HTML code, brands, and games can transform their landing pages into Web3 native channels, allowing users to directly mint and acquire metaverse NFTs. This not only simplifies the NFT acquisition process but also serves as a promotional tool, enhancing user engagement and immersion in the metaverse.
🖼 Yuga Labs plans to restore spark around its NFTs
Last week, Bored Apes creator Yuga Labs released its latest NFT-gated game, HV-MTL Forge, but it hasn't yet helped the dragging performance of the company that owns several of the top NFT collections. Yuga Labs is the standard-bearer for the industry of non-fungible tokens. It owns Bored Apes, Mutant Apes and CryptoPunks, along with a number of other important NFT collections. The giant milestone for Otherside, according to new CEO Daniel Alegre, will be when Yuga can start letting others build on it. The muted reception for HV-MTL Forge aside, the giant question mark around Yuga Labs is the Otherside virtual world that it's building and that fans have already sank millions of dollars into. Very soon, Yuga will announce a cadence for revelations that will give its NFT owners and fans a sense for how often they will reveal new pieces of work. When 20 or 30 NFT collections can create ways their NFTs will show up in Otherside and they can start making experiences in the world independent of Yuga. Yuga Labs entered the metaverse hype last year when it sold deeds for its Otherside virtual world, raking in about $320 million. It took users on its "First Trip" into the space a couple months later.
Last week, Bored Apes creator Yuga Labs released its latest NFT-gated game, HV-MTL Forge, but it hasn't yet helped the dragging performance of the company that owns several of the top NFT collections. Yuga Labs is the standard-bearer for the industry of non-fungible tokens. It owns Bored Apes, Mutant Apes and CryptoPunks, along with a number of other important NFT collections. The giant milestone for Otherside, according to new CEO Daniel Alegre, will be when Yuga can start letting others build on it. The muted reception for HV-MTL Forge aside, the giant question mark around Yuga Labs is the Otherside virtual world that it's building and that fans have already sank millions of dollars into. Very soon, Yuga will announce a cadence for revelations that will give its NFT owners and fans a sense for how often they will reveal new pieces of work. When 20 or 30 NFT collections can create ways their NFTs will show up in Otherside and they can start making experiences in the world independent of Yuga. Yuga Labs entered the metaverse hype last year when it sold deeds for its Otherside virtual world, raking in about $320 million. It took users on its "First Trip" into the space a couple months later.
📉 Sale of rare Bored Ape underscores NFT market slump
The second rarest Bored Ape Yacht Club NFT has been sold for just 200 ETH (roughly $372,000) — far below peak prices for the collection’s most prized items. Bored Ape #3953, a cream-furred creature with protruding eyes shown chewing on pizza, changed hands earlier today, according to blockchain records. Rarity Sniper ranks it as the second rarest item in the collection. In the past, apes with similar traits have been sold for millions of dollars. The record sale, brokered by Sotheby’s in 2021, was $3.4 million. The news comes with the prices of some of the most popular NFT collections plummeting. The floor price — the cheapest point of entry for an NFT collection — of Yuga Labs’ Bored Ape Yacht Club currently sits at 31 ETH (around $58,000). It stood at 28 ETH earlier this week, as low as it’s been in over 18 months and less than half its value at the start of the year, according to NFT Price Floor data. Trading volumes for the collection are at a two-year high, implying a sell-off. Yuga Labs, the startup behind BAYC, appears unfazed by the crash. Crypto Twitter was less sanguine. As one user pointed out, “It’s wild to think that at the top, the BAYC floor was higher than this sale (in USD not ETH).”
The second rarest Bored Ape Yacht Club NFT has been sold for just 200 ETH (roughly $372,000) — far below peak prices for the collection’s most prized items. Bored Ape #3953, a cream-furred creature with protruding eyes shown chewing on pizza, changed hands earlier today, according to blockchain records. Rarity Sniper ranks it as the second rarest item in the collection. In the past, apes with similar traits have been sold for millions of dollars. The record sale, brokered by Sotheby’s in 2021, was $3.4 million. The news comes with the prices of some of the most popular NFT collections plummeting. The floor price — the cheapest point of entry for an NFT collection — of Yuga Labs’ Bored Ape Yacht Club currently sits at 31 ETH (around $58,000). It stood at 28 ETH earlier this week, as low as it’s been in over 18 months and less than half its value at the start of the year, according to NFT Price Floor data. Trading volumes for the collection are at a two-year high, implying a sell-off. Yuga Labs, the startup behind BAYC, appears unfazed by the crash. Crypto Twitter was less sanguine. As one user pointed out, “It’s wild to think that at the top, the BAYC floor was higher than this sale (in USD not ETH).”
🖼 Andy Murray’s Wimbledon Tennis Data Transformed Into NFT Artwork
Historic tennis tournament Wimbledon and past champion Andy Murray have teamed up with digital artist Refik Anadol to launch an official Wimbledon art NFT on Ethereum. The data-driven digital art project, “The Exposition,” was created using 18 years of Andy Murray’s Wimbledon data—including his two Grand Slam victories at the prestigious tennis tournament in 2013 and 2016—alongside unique motion-capture sessions. The project is billed as a “world-first fusion of digital art, sport and data science.” The open edition NFT went on sale earlier today via manifold.xyz to coincide with Murray’s second-round match at Wimbledon 2023, and will be available until July 16. The NFTs, which were produced with Web3 consultancy FAN3, are priced at $147 apiece. Murray was ultimately eliminated from the tournament on Friday. For “The Exposition,” developers created a unique algorithm that uses millions of inputs from statistics along with motion, audio, and visual data. The resulting color bursts represent the “drama, the rivalries, and the Championship victories” of Murray’s ongoing Wimbledon career, according to the project description.
Historic tennis tournament Wimbledon and past champion Andy Murray have teamed up with digital artist Refik Anadol to launch an official Wimbledon art NFT on Ethereum. The data-driven digital art project, “The Exposition,” was created using 18 years of Andy Murray’s Wimbledon data—including his two Grand Slam victories at the prestigious tennis tournament in 2013 and 2016—alongside unique motion-capture sessions. The project is billed as a “world-first fusion of digital art, sport and data science.” The open edition NFT went on sale earlier today via manifold.xyz to coincide with Murray’s second-round match at Wimbledon 2023, and will be available until July 16. The NFTs, which were produced with Web3 consultancy FAN3, are priced at $147 apiece. Murray was ultimately eliminated from the tournament on Friday. For “The Exposition,” developers created a unique algorithm that uses millions of inputs from statistics along with motion, audio, and visual data. The resulting color bursts represent the “drama, the rivalries, and the Championship victories” of Murray’s ongoing Wimbledon career, according to the project description.
Sale of rare Bored Ape underscores NFT market slump
The second rarest Bored Ape Yacht Club NFT has been sold for just 200 ETH (roughly $372,000) — far below peak prices for the collection’s most prized items. Bored Ape #3953, a cream-furred creature with protruding eyes shown chewing on pizza, changed hands earlier today, according to blockchain records. Rarity Sniper ranks it as the second rarest item in the collection. In the past, apes with similar traits have been sold for millions of dollars. The record sale, brokered by Sotheby’s in 2021, was $3.4 million.
The news comes with the prices of some of the most popular NFT collections plummeting. The floor price — the cheapest point of entry for an NFT collection — of Yuga Labs’ Bored Ape Yacht Club currently sits at 31 ETH (around $58,000). It stood at 28 ETH earlier this week, as low as it’s been in over 18 months.
The second rarest Bored Ape Yacht Club NFT has been sold for just 200 ETH (roughly $372,000) — far below peak prices for the collection’s most prized items. Bored Ape #3953, a cream-furred creature with protruding eyes shown chewing on pizza, changed hands earlier today, according to blockchain records. Rarity Sniper ranks it as the second rarest item in the collection. In the past, apes with similar traits have been sold for millions of dollars. The record sale, brokered by Sotheby’s in 2021, was $3.4 million.
The news comes with the prices of some of the most popular NFT collections plummeting. The floor price — the cheapest point of entry for an NFT collection — of Yuga Labs’ Bored Ape Yacht Club currently sits at 31 ETH (around $58,000). It stood at 28 ETH earlier this week, as low as it’s been in over 18 months.
💰 Solana May Get NFT Royalties Enforceable Through New Metaplex Standard
Creator royalties have dropped substantially in the Solana NFT sector recently, as top marketplace Magic Eden made paying them optional last week after rivals that shied away from royalties snatched away market share. Now Metaplex, the maker of Solana’s NFT standard, says it is developing a new standard that could enforce royalty payments across the board. While artists and creators can set royalty rates through project smart contracts. The firm said that the existing Metaplex standard is used by more than 99% of all Solana NFTs created so far. Metaplex said it can create enforceable royalties by expanding its token metadata program, which is how NFT makers add the data and information that makes an NFT—or blockchain token representing ownership in an item—unique from one another. Metaplex’s tweet thread reveals that it aims to support multiple NFT asset standards within its framework, providing creators with options for future projects. Since Metaplex technology is already widely supported by marketplaces and wallets, it may be appropriate to implement changes that could affect the entire Solana Maker community.
Creator royalties have dropped substantially in the Solana NFT sector recently, as top marketplace Magic Eden made paying them optional last week after rivals that shied away from royalties snatched away market share. Now Metaplex, the maker of Solana’s NFT standard, says it is developing a new standard that could enforce royalty payments across the board. While artists and creators can set royalty rates through project smart contracts. The firm said that the existing Metaplex standard is used by more than 99% of all Solana NFTs created so far. Metaplex said it can create enforceable royalties by expanding its token metadata program, which is how NFT makers add the data and information that makes an NFT—or blockchain token representing ownership in an item—unique from one another. Metaplex’s tweet thread reveals that it aims to support multiple NFT asset standards within its framework, providing creators with options for future projects. Since Metaplex technology is already widely supported by marketplaces and wallets, it may be appropriate to implement changes that could affect the entire Solana Maker community.
Andy Murray’s Wimbledon Tennis Data Transformed Into NFT Artwork
Historic tennis tournament Wimbledon and past champion Andy Murray have teamed up with digital artist Refik Anadol to launch an official Wimbledon art NFT on Ethereum. The data-driven digital art project, “The Exposition,” was created using 18 years of Andy Murray’s Wimbledon data—including his two Grand Slam victories at the prestigious tennis tournament in 2013 and 2016—alongside unique motion-capture sessions. The project is billed as a “world-first fusion of digital art, sport and data science.”
The open edition NFT went on sale earlier today via manifold.xyz to coincide with Murray’s second-round match at Wimbledon 2023, and will be available until July 16. The NFTs, which were produced with Web3 consultancy FAN3, are priced at $147 apiece.
Historic tennis tournament Wimbledon and past champion Andy Murray have teamed up with digital artist Refik Anadol to launch an official Wimbledon art NFT on Ethereum. The data-driven digital art project, “The Exposition,” was created using 18 years of Andy Murray’s Wimbledon data—including his two Grand Slam victories at the prestigious tennis tournament in 2013 and 2016—alongside unique motion-capture sessions. The project is billed as a “world-first fusion of digital art, sport and data science.”
The open edition NFT went on sale earlier today via manifold.xyz to coincide with Murray’s second-round match at Wimbledon 2023, and will be available until July 16. The NFTs, which were produced with Web3 consultancy FAN3, are priced at $147 apiece.
🔫 LG Uplus to enter fashion metaverse
South Korea‘s LG Uplus Corp., has launched a fashion metaverse business, starting this month, with the clothing store Meta Slap, a digital service for office workers, to develop metaverse commerce in fashion. Recently, LG Uplus said that it has inked a memorandum of understanding (MOU) with domestic fashion firms Z-Emotion, which develops 3D simulation-based costume design software, and Ation Fashion, which owns the casual brand Polham. The latter created a method in May that makes it possible to create metaverse costumes. This month, the three businesses will run a fashion boutique in Meta Slap using a ground-breaking innovative concept for a clothes store that combines the real and virtual worlds. The website will produce and market offline goods in addition to avatar clothing and accessories. “The (San Mateo, California-based) metaverse platform Roblox says five of 10 metaverse users were found to dress up their avatars at least once a week,” an LG Uplus source said. The three sides plan to link their metaverse business to an artificial intelligence fitting room.
South Korea‘s LG Uplus Corp., has launched a fashion metaverse business, starting this month, with the clothing store Meta Slap, a digital service for office workers, to develop metaverse commerce in fashion. Recently, LG Uplus said that it has inked a memorandum of understanding (MOU) with domestic fashion firms Z-Emotion, which develops 3D simulation-based costume design software, and Ation Fashion, which owns the casual brand Polham. The latter created a method in May that makes it possible to create metaverse costumes. This month, the three businesses will run a fashion boutique in Meta Slap using a ground-breaking innovative concept for a clothes store that combines the real and virtual worlds. The website will produce and market offline goods in addition to avatar clothing and accessories. “The (San Mateo, California-based) metaverse platform Roblox says five of 10 metaverse users were found to dress up their avatars at least once a week,” an LG Uplus source said. The three sides plan to link their metaverse business to an artificial intelligence fitting room.
Solana May Get NFT Royalties Enforceable Through New Metaplex Standard
Creator royalties have dropped substantially in the Solana NFT sector recently, as top marketplace Magic Eden made paying them optional last week after rivals that shied away from royalties snatched away market share. Now Metaplex, the maker of Solana’s NFT standard, says it is developing a new standard that could enforce royalty payments across the board. While artists and creators can set royalty rates through project smart contracts.
The firm said that the existing Metaplex standard is used by more than 99% of all Solana NFTs created so far. Metaplex said it can create enforceable royalties by expanding its token metadata program, which is how NFT makers add the data and information that makes an NFT—or blockchain token representing ownership in an item—unique from one another.
Creator royalties have dropped substantially in the Solana NFT sector recently, as top marketplace Magic Eden made paying them optional last week after rivals that shied away from royalties snatched away market share. Now Metaplex, the maker of Solana’s NFT standard, says it is developing a new standard that could enforce royalty payments across the board. While artists and creators can set royalty rates through project smart contracts.
The firm said that the existing Metaplex standard is used by more than 99% of all Solana NFTs created so far. Metaplex said it can create enforceable royalties by expanding its token metadata program, which is how NFT makers add the data and information that makes an NFT—or blockchain token representing ownership in an item—unique from one another.
🖼 NFT Lender Gondi Goes Live, Raises $5.3M Round Led by Hack.vc
Non-fungible token (NFT) lending protocol Gondi went live on Tuesday after raising a $5.35 million seed round led by Hack.vc, the firm told CoinDesk. Gondi allows lenders and borrowers to capitalize on the value of blue-chip NFT collections on the Ethereum blockchain. Lenders can put up their NFTs on the platform for a fixed rate, while borrowers can use the NFTs as collateral or for use on NFT-based financial applications. Gondi says that borrowers on its platform only pay interest based on the outstanding loan duration. Borrowers can use their NFT assets as collateral to request a loan from the open market. The seed round for Gondi developer Florida Street was co-led by Alex Pack at Hack.vc and Rodolfo Gonzalez at Foundation Capital, with participation from Dragonfly Capital, Pantera Capital, and 6th Man Ventures, among others. “We are thrilled to have co-led Florida Street's seed round, and we are excited about the solutions they are bringing to Web3 users. Gondi's instant refinancing will enhance the NFT lending market, allowing borrowers to access more affordable credit and fostering a growing market,” said Alex Pack, Managing Partner at Hack.vc, in a message to CoinDesk.
Non-fungible token (NFT) lending protocol Gondi went live on Tuesday after raising a $5.35 million seed round led by Hack.vc, the firm told CoinDesk. Gondi allows lenders and borrowers to capitalize on the value of blue-chip NFT collections on the Ethereum blockchain. Lenders can put up their NFTs on the platform for a fixed rate, while borrowers can use the NFTs as collateral or for use on NFT-based financial applications. Gondi says that borrowers on its platform only pay interest based on the outstanding loan duration. Borrowers can use their NFT assets as collateral to request a loan from the open market. The seed round for Gondi developer Florida Street was co-led by Alex Pack at Hack.vc and Rodolfo Gonzalez at Foundation Capital, with participation from Dragonfly Capital, Pantera Capital, and 6th Man Ventures, among others. “We are thrilled to have co-led Florida Street's seed round, and we are excited about the solutions they are bringing to Web3 users. Gondi's instant refinancing will enhance the NFT lending market, allowing borrowers to access more affordable credit and fostering a growing market,” said Alex Pack, Managing Partner at Hack.vc, in a message to CoinDesk.
LG Uplus to enter fashion metaverse
South Korea‘s LG Uplus Corp., has launched a fashion metaverse business, starting this month, with the clothing store Meta Slap, a digital service for office workers, to develop metaverse commerce in fashion. Recently, LG Uplus said that it has inked a memorandum of understanding (MOU) with domestic fashion firms Z-Emotion, which develops 3D simulation-based costume design software, and Ation Fashion, which owns the casual brand Polham.
South Korea‘s LG Uplus Corp., has launched a fashion metaverse business, starting this month, with the clothing store Meta Slap, a digital service for office workers, to develop metaverse commerce in fashion. Recently, LG Uplus said that it has inked a memorandum of understanding (MOU) with domestic fashion firms Z-Emotion, which develops 3D simulation-based costume design software, and Ation Fashion, which owns the casual brand Polham.
🖼 Digital Toy Company Cryptoys Integrating Kid-Friendly AI Chatbot Into NFTs
OnChain Studios, the Web3 collective behind non-fungible token (NFT) company Cryptoys is planning to integrate a kid-friendly artificial intelligence (AI) chatbot into its character-based digital collectibles. The AI software, called ChatGuardian, features a chat filter that parents can customize to ensure that their kids have safe, appropriate conversations with their NFT characters. Parents will be able to log into Cryptoys’ Guardian Control Center and prohibit specific keywords and topics at their discretion. Cryptoys hopes that incorporating ChatGuardian will make kids’ experiences with their NFTs engaging and entertaining as they talk with their digital toys. However, the company recognizes the uncertainties and worries that the introduction of AI presents - but don’t fear, there’s no chance of a M3GAN-like doll-gone-wrong here. Will Weinraub, CEO and co-founder of OnChain Studio and Cryptoys told CoinDesk that kids born in the age of blockchain and AI should be able to interact with their favorite characters from intellectual property (IP) franchises, as opposed to “faceless robotic companions,” such as Google Home. Alfonso Martinez, Chief Experience Officer at Cryptoys said in a press release that the company’s priority.
OnChain Studios, the Web3 collective behind non-fungible token (NFT) company Cryptoys is planning to integrate a kid-friendly artificial intelligence (AI) chatbot into its character-based digital collectibles. The AI software, called ChatGuardian, features a chat filter that parents can customize to ensure that their kids have safe, appropriate conversations with their NFT characters. Parents will be able to log into Cryptoys’ Guardian Control Center and prohibit specific keywords and topics at their discretion. Cryptoys hopes that incorporating ChatGuardian will make kids’ experiences with their NFTs engaging and entertaining as they talk with their digital toys. However, the company recognizes the uncertainties and worries that the introduction of AI presents - but don’t fear, there’s no chance of a M3GAN-like doll-gone-wrong here. Will Weinraub, CEO and co-founder of OnChain Studio and Cryptoys told CoinDesk that kids born in the age of blockchain and AI should be able to interact with their favorite characters from intellectual property (IP) franchises, as opposed to “faceless robotic companions,” such as Google Home. Alfonso Martinez, Chief Experience Officer at Cryptoys said in a press release that the company’s priority.
The Department of Justice has charged a Moroccan man with "theft of cryptocurrency and NFTs through spoofing" after stealing around $450,000 worth of NFTs and crypto.
In September 2021, The defendant, Soufiane Oulahyane, allegedly created a counterfeit version of OpenSea to unlawfully gain control of the digital assets, according to a DOJ statement. This technique, known as "spoofing," tricked the unsuspecting victim into thinking they were interfacing with the real OpenSea marketplace.
Oulahyane supposedly duped a Manhattan-based NFT holder into registering on the phony OpenSea platform. The unsuspecting victim then unknowingly handed over the seed phrase for his digital wallet, allowing the scammer to transfer his crypto and NFTs, including a Bored Ape valued at $92,000 at the time.
Oulahyane is being charged with several counts of wire fraud, unauthorized use of access devices, and aggravated identity theft.
In September 2021, The defendant, Soufiane Oulahyane, allegedly created a counterfeit version of OpenSea to unlawfully gain control of the digital assets, according to a DOJ statement. This technique, known as "spoofing," tricked the unsuspecting victim into thinking they were interfacing with the real OpenSea marketplace.
Oulahyane supposedly duped a Manhattan-based NFT holder into registering on the phony OpenSea platform. The unsuspecting victim then unknowingly handed over the seed phrase for his digital wallet, allowing the scammer to transfer his crypto and NFTs, including a Bored Ape valued at $92,000 at the time.
Oulahyane is being charged with several counts of wire fraud, unauthorized use of access devices, and aggravated identity theft.
🖼 Blockchain gaming platform creates refundable NFT program
Blockchain gaming startup Spielworks has partnered with the Web3 platform Mycelium Network to launch a program that allows full refunds for nonfungible token (NFT) purchases. In an announcement sent to Cointelegraph, the team explained that within the program, users who acquire NFTs called "reverties" are eligible to get a full USD Coin. The project also allows users to stake this new series of NFTs in Spielworks’ game Dungeon Master and purchase them using USDC via a separate minting mechanism. Through the partnership, Spielworks will leverage the Mycelium Network to support USDC purchases. Within the minting transaction, the USDC will be transferred to a decentralized finance (DeFi) lending pool at the Aave protocol. The team said that the interest earned in the lending pool will be used to buy back Spielworks’ token in an attempt to help its community. A portion of the earnings will also be allocated to help the Wombat Protection Society of Australia. According to Adrian Krion, the co-founder and CEO of Spielworks, the NFTs will also have utility within their Dungeon Worlds game. They will be providing mining power and material drops to their players.
Blockchain gaming startup Spielworks has partnered with the Web3 platform Mycelium Network to launch a program that allows full refunds for nonfungible token (NFT) purchases. In an announcement sent to Cointelegraph, the team explained that within the program, users who acquire NFTs called "reverties" are eligible to get a full USD Coin. The project also allows users to stake this new series of NFTs in Spielworks’ game Dungeon Master and purchase them using USDC via a separate minting mechanism. Through the partnership, Spielworks will leverage the Mycelium Network to support USDC purchases. Within the minting transaction, the USDC will be transferred to a decentralized finance (DeFi) lending pool at the Aave protocol. The team said that the interest earned in the lending pool will be used to buy back Spielworks’ token in an attempt to help its community. A portion of the earnings will also be allocated to help the Wombat Protection Society of Australia. According to Adrian Krion, the co-founder and CEO of Spielworks, the NFTs will also have utility within their Dungeon Worlds game. They will be providing mining power and material drops to their players.
