The FTX Effect: NFT Protocols Feeling the Pinch
This week, the NFT world is buzzing with the aftermath of the FTX collapse. The San Francisco-based NFT protocol Metaplex has laid off some of its Metaplex Studios team. CEO Stephen Hess threw a spotlight on how this crypto catastrophe has trickled down and influenced their operations. With a focus on making decisions with caution, they’re steering the ship more conservatively.
As Hess noted, Metaplex is a significant player in the Solana NFT ecosystem. He feels the weight of responsibility to keep the protocol sustainable for its community while carefully navigating these uncertain waters.
Resilience in the NFT Space: Can It Bounce Back?
Despite the cloudy skies since the FTX bombshell dropped, confidence remains in the NFT space. Cointelegraph caught up with several industry insiders to gauge their pulse on the future. Oscar Franklin Tan, who helms NFT platform Enjin, stated he believes the market will eventually stabilize and coalesce around more robust communities.
He underscored expectations for a revival, predicting the rise of a second generation of NFTs that are not just shiny digital pictures, but smarter and more sustainable models.
Disney’s Iger: The CEO with a Metaverse Vision
In a plot twist straight out of Hollywood, Disney has reinstated Bob Iger as CEO, tossing Bob Chapek aside like a used movie script. Iger’s past with digital avatars on the Genies platform has marked him as a notable supporter of the metaverse.
Disney had even filed a metaverse patent in late December while Iger was still a big wheel at the company. While nothing has been put into action as of yet, the patent lays the groundwork for some future magic.
NFTs Rev Up in Formula 1
As the engines of the Formula 1 season gear down, NFTs are proudly revving up. Red Bull Racing, with its partner crypto exchange Bybit, has showcased a stunning NFT artwork called Lei the Lightning Azuki amidst its dominating performance this season.
The Azuki NFT, which draws inspiration from anime, boasts a collection of 10,000 unique pieces. As of now, Lei the Lightning Azuki is flipping around the market for about $11,000 in Wrapped Ether (wETH), likely leaving collectors racing to grab it.
Nifty News: World Cup Meets the Metaverse
This week’s Nifty News has a few tantalizing tidbits. As the FIFA World Cup kicked off, Chinese tech firms jumped into the Metaverse fray, offering fans a virtual garden to watch the match action unfold. Meanwhile, NFT marketplace X2Y2 backtracked on its previous opt-in royalties talk. Now, it seems that all collections, new and old, will have royalties enforced—a move that has many scratching their heads.
So buckle up folks, and don’t lose your NFT passport! Join us next Wednesday for another joyride through the evolving landscape of NFTs, where uncertainty and excitement ride side by side!
+ There are no comments
Add yours