Celebrities face huge losses due to BAYC NFTs
Many celebrities have invested in the Ethereum-based nonfungible token collection (NFT), due to the hype surrounding the Bored Ape Yacht Club. Justin Bieber was one of them.
Bieber paid 500 Ether, (ETH), to BAYC #3001 On Jan. 29, the property was valued at $1.28 Million at that time, while the top NFT offer cracks at just over $69,000.
According to data NFT Price Floor: The floor price of the collection has dropped significantly since its May peak at 144.9 Ethereum. 1 this year, at the time valued at around $396,000. It has dropped to 48 ETH now, at $58,589, at the time of writing.
Many other celebs also rode the wave of hype that saw the Yuga Labs made NFTs become a “blue chip” collection, such as entrepreneur Gary Vee who still has a number of Bored Apes in his 2,400-strong NFT collectionJimmy Fallon, television host, bought BAYC #599 on Nov. 8, for $224,191. The current top offer is $70,264.
Bored Apes are not in the dark, however. BAYC is there to help. #8633 Pransky, an online art collector, bought the Bored Apes on Nov. 17 for almost $747,000. This is a sign that there is still a high demand for Bored Apes with rare attributes.
The Sussexes in talks for a ‘virtual world’
Prince Harry and Meghan Markle are “in advanced talks” with pax.world — a platform allowing users to create their own metaverse, according to a Nov. 15 Mirror article.
Sources allege that Markle is the driving force behind the plan, as a result, the Metaverse has cleverly been dubbed the “Meg-averse.”
The former working royals are thought to be looking for new ways to connect with their fans and see their purported Metaverse as a way “to take their brand fully global.”.
According to pax.world founder Frank Fitzgerald, the Metaverse is perfect for the “progressive, tech-savvy” audience the pair are looking to connect with as they build upon their brand, saying the platform is offering the couple “a plot of prime pax.world land.”
Adidas Originals unveil ‘virtual gear’ collection
Adidas unveiled an Ethereum-based NFT collection called the “Genesis collection,” on Nov. 16 featuring a set of wearables designed to be worn by virtual avatars.
INTRODUCING ADIDAS VIRTUAL EAR
The adidas Virtual Gear 1/6 genesis Collection is revealed pic.twitter.com/FUt9Qhj8VO
— adidas Originals (@adidasoriginals) November 16, 2022
Calling the new product “Virtual Gear,” the sportswear giant has labeled the collection as a “new, interoperable product category,” adding:
“[It] accelerates our collective drive towards strengthening web3, and the adidas community-based, member-first, open metaverse pledge”
Building on Adidas’ partnership with BAYC, Mutant Ape Yacht Club and Inhabitants, the 16-piece collection will also allow users who own a wearable Adidas NFT and a participating partner’s NFT to “dress up” that NFT with their Adidas virtual wearable.
Adidas Originals: Capsule NF Collection owners will now be able to burn the capsule NFT and have it replaced from the new collection.
Commenting on the collection, the Senior VP of Creative Direction for Adidas Originals Nic Galway said Web3 offers new opportunities for its designers and collaborators and adds a “level of utility that can be explored and even discovered as worlds and avatars take new forms.”
Sony’s NFT gaming patent
In a patent Application made in May 2021, and made public Nov. 10, by technology conglomerate Sony, the intention to include blockchain technology in its games was revealed.
The patent shows the company aims to track in-game assets using blockchain technology and NFTs, including a series of diagrams showing how it would do this.
The filing of the patent is only a patent at the moment, but it could indicate that the entertainment company is interested joining the NFT gaming industry.
Sony is already experimenting with NFTs after partnering up with ThetaLabs in May to launch a 3D collection of NFTs that can be viewed on its Spatial Reality Display. This allows visualization of 3D models.
More Nifty News
Crypto has been front and center at Abu Dhabi Grand Prix, with Red Bull Racing featuring NFTs on both the cars of the Red Bull Racing’s driving team following a deal struck with crypto exchange Bybit.
The creator of the BAYC, Yuga Labs, acquired Beeple’s browser-based NFT game on Nov. 15. Yuga Labs hinted that the game could be integrated with their Otherside metaverse. The game allows players outfit heroes with custom loadouts and other items in order to complete missions.