FTX Contagion: Deepak.eth’s NFT Collection on the Market
In a shocking twist from the FTX aftermath, crypto influencer Deepak.eth has thrown his NFT collection onto the auction block after revealing an astounding eight-figure exposure to the fallen exchange. Deepak, the nameless knight behind blockchain firm Chain, announced that he is offering his collection either to the top bidder or through a decentralized autonomous organization (DAO) that will allow others to buy into 80% of his precious digital assets.
The collection is not just anyone’s kitchen sink haul but features prestigious pieces from the likes of Bored Ape Yacht Club and Mutant Ape Yacht Club. With a hefty price tag of 8,000 Ether (ETH)—a staggering $10 million at the current market rate—get your wallets ready for this virtual yard sale!
Bridging the Gap: Challenges in Onboarding Artists to Web3
In a recent conversation with Bernard Alexander of Animal Concerts, the man behind bringing musical icons such as Snoop Dogg and Billy Ray Cyrus into the Web3 world, we explored the uphill battles artists face when transitioning to the blockchain space. It turns out, educating artists is like teaching your grandparents how to use a smartphone—everyone’s interested, but nobody really wants to learn, and it often ends in confusion.
Alexander explains that the rapid evolution of the industry makes it daunting, generating a fear of the unknown. It’s a classic case of the new kid on the block trying to fit in while fellow students are all shouting about metaverses and smart contracts!
OpenSea’s Bold Move: Royalty Enforcement
After taking a beating from the community regarding royalty disputes, NFT giant OpenSea has finally decided to enforce creator royalties across all collections. Following the uproar that exploded online after the initial rollout of their new tool only applied to new collections, the platform has listened to the voices of creators who felt like the dark underbelly of deceit was lurking behind—threatening the heart of artistic integrity.
Announcing the change, OpenSea hopes to reassure creators and buyers alike that despite the chaos, their commitment to supporting artists through royalties remains firm. So, you can breathe a sigh of relief that your previous investments aren’t about to go down the digital drain after all.
Twitter’s NFT Display: The Magic Mirror Effect
In a move that has NFT enthusiasts buzzing, the development team behind Optimism has launched an innovative tool named Magic Mirror. This application allows NFT holders to mirror their NFTs to the Ethereum mainnet, finally permitting them to put their prized assets on social media platforms like Twitter—where only layer-1 NFTs were initially recognized.
Through this tool, imagine strutting your crypto collectibles with pride, garnished with a fabulous hexagonal profile picture on Twitter, instead of hiding like they’re the best-kept secret you never wanted to share. Everyone wants to brag; now you can do it transparently!
Nifty News: Nike’s Digital Playground and More
This week in Nifty News, Nike has leaped into the NFT game with its new platform .Swoosh, expected to debut its first digital collection in 2023. As if that wasn’t enough to tickle your fancy, a certain infamous pair of Birkenstocks once donned by the late Steve Jobs sold for a mind-boggling $218,750 as an NFT. Who knew sandals could fetch such a price—guess that’s one way to thrive in an economic storm!
Thank you for joining us on this rollercoaster ride through the latest twists and turns in NFTs and blockchain developments. Don’t be a stranger; we’ll see you next week for more outrageous updates and analysis!
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