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Cardano’s NFT project ups the ante with Snoop Dogg’s son

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Champ Medici, the son of Snoop Dogg, joins Cardano’s NFT project Clay Nation team to help advance the initiative and forge important alliances. Snoop Dogg and Champ Medici were previously interested in the much-hyped Cardano NFT project.

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Source: Twitter

It goes without saying that Medici, real name Cordell Broadus, has a wide range of possibilities when it comes to creating. He created his own Web3 brand instead of going down the route that everyone else had planned for him, and as a result, he is regarded as one of the most important players in the developing sector.

Bored Taco, one of Medici’s most recent Web3 initiatives, debuted this week at ApeFest as part of NFT.NYC. Medici joined the NFT restaurant company Food Fighters Universe (FFU) as a partner in order to realize his concept in two months. Medici’s Bored Ape is a part of the branding for Bored Taco. Medici claimed that FFU’s Bored & Hungry restaurant, which was decorated in the NFT style, was what gave him the idea for Bored Taco.

1 Champ Medici Cordell Broadus and Dr. Bombay Snoop Dogg Cordell Broadus Jr. have joined the Food Fighters Universe the worlds first NFT restaurant group photo by Dah Dah 1024x720 1

According to the Clay Nation team’s official release, the NFT project is intensifying its partnership with Cordell Broadus. Champ Medici will now collaborate with the group to fortify and create a strategic alliance in order to help the initiative reach a bigger audience.

The Clay Nation NFT initiative has long had the support of Snoop Dogg and Champ Medici. Recently, the father-son team also decided to work together on the NFT project. It’s also significant to remember that Medici is one of the few famous people that supported Cardano. In this instance, he and his father even had a meeting in April with Charles Hoskinson, the CEO, and founder of Cardano, to discuss both blockchain-related entertainment concepts and the technology itself.

Cardano Node 1.35.3 update

Charles Hoskinson, the creator of Cardano, recently advised stake pool administrators to upgrade their nodes in one of his tweets. To prepare for the Vasil hard fork upgrade, he instructed the operators to update to version 1.35.3.

LawrenceIO has published Cardano node 1.35.3. According to Cardano Updates, the 1.35.3 update for Cardano Node was released on 11 August 2022.

The hard fork was scheduled to debut on the Cardano network in July. However, the network acknowledged that it was overloaded. It should be noted that Vasil had previously encountered delays. Usually, during such periods, the neighborhood develops suspicion and keeps selling off its belongings. The ADA community, however, seemed pleased with the launch.

Meta’s NFT expansion drives 38% surge in FLOW token

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Following Meta’s (FB) intention to use the blockchain to advance its non-fungible tokens (NFT) effort, the Flow blockchain token (FLOW) saw a gain of over 35%.

The token experienced buying pressure after Meta declared support for NFTs, digital tokens that represent ownership of physical or virtual assets created on the Flow blockchain, and announced the international expansion of its recently tested digital collectibles feature on its photo and video-sharing platform Instagram.

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Source: Twitter

Mark Zuckerberg, the creator, and CEO of Meta, announced the rollout in a Facebook post. After a successful testing period in May, Instagram users in several countries can now display their NFTs. According to a tweet from the social media platform, the network will also include support for Flow Blockchain.

The social media behemoth also declared support for Dapper and Coinbase wallets as being compatible for use as part of its expansion strategy.

The Flow blockchain was developed by Dapper Labs, and NBA Top Shot, one of NFT’s biggest hits, made it famous. To support “games, infrastructure, decentralized finance, content, and artists” in the Flow ecosystem, Dapper Labs revealed a $725 million fund in May.

According to statistics recorded by Coinglass, the price increase in FLOW is supported by a triple-digit increase in futures open interest on important exchanges, including Binance. The quantity of contracts exchanged but not offset by an offsetting position is referred to as open interest.

An increase in open interest confirms the price rally by indicating that more capital is being invested in the FLOW market.

FLOW has above its 100-day simple moving average (SMA), leaving behind ether (ETH) and bitcoin (BTC), which are still trading below the important SMA. As shown in the chart below, the larger decline is still present.

Meta supports content creators through new features

Recent enhancements that Meta believes would expand the potential for money generating, permit creative expression, and improve user engagement were announced for online content creators.

According to reports, in an effort to attract more creators to its platform, the proposed creator’s marketplace would compete with TikTok’s comparable marketplace, which is the video app’s internal influencer marketing tool.

NFTs glitz to yet another collection, YOOMOOTA

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Knock Knock! Who’s there? YOOMOOTA. YOOMOOTA who? YOOMOOTA your latest NFT collection in town!

The brand new NFT collection  YOOMOOTA is launching in collaboration with Rarible, 1inch, and other industry leaders. YOOMOOTA has already partnered with some of the most well-known brands in the world, like Boss Beauties, a global effort driven by women, Sneaky Vampire Syndicate, Doodles, and others.

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GodJira, Cereal Club, and other projects have collaborated on art with the project. YOOMOOTA has already received over 60,000 backers and the attention of Cozomo de’ Medici, the renowned non-fungible tokens celebrity.

The artist used natural physiology to create the collection, revealing the true beauty of a human being. The collection is being observed by top NFT industry influencers and rival collections since each piece of art depict human emotions, feelings, and psychology.

YOOMOOTA comprehends the prevailing terms and regulations of the NFT market and is working diligently on the marketing aspect of the job by consistently partnering with other collections and giving away a few of their pieces to reach prospective backers, even with the innovation in terms of the collection and the mind behind it.

It has already been identified the 18 non-fungible tokens projects with which the collection partnered and made friends. YOOMOOTA thanked its supporters for their help in getting started on its official Twitter account.

Recapping the new NFT in town

For the past two years, the YOOMOOTA universe has been evolving, with the active creative process taking place in the previous six months. After years of self-immersion, the author molded and constructed the YOOMOOTA universe.

It was feasible to turn YOOMOOTA into something actual and introduce the cosmos to the public, thanks to the rapid growth of decentralized technology and enormous digitalization. The entire collection isn’t just another NFT project because the developer plans to turn the YOOMOOTA universe into a global community where anyone may participate as both creators and watchers.

Everything in the cosmos has been humanized since it embodies the feelings, thoughts, and characteristics of people. The collection’s community accepts everything and everyone, and members are encouraged to voice their feelings and opinions. The YOOMOOTA team is betting on the cosmos expanding further and reaching person-to-person growth in the next six months.

Furthermore, it has been announced that YOOMOOTA will be available from 4 May 2022, 2:00 p.m. UTC onwards to all the whitelisted investors. However, for everyone else, it will be available from 5 May 2022, 3:00 p.m. UTC.

NFT ‘Museum of War’ opens in Ukraine

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On Friday, Ukraine began auctioning off a collection of non-fungible tokens (NFTs) as part of a cryptocurrency fundraising campaign that has so far raised more than $65 million for its war effort, according to Kyiv.

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As one might expect, the “museum” is a website rather than a physical structure. Its collection, which was created with the ministry’s help, documents recent events in the Russian-Ukraine conflict, including personal perspectives from Ukrainian and international digital artists.

Each day in the fight is commemorated by a succession of digital pictures, which include silhouettes of jets, screengrabs of news stories, and a cartoon-style representation of an explosion. Three days after Russia launched its assault, Ukraine’s Ministry of Digital Transformation began seeking for donations in digital currencies such as bitcoin and ether, which Moscow refers to as a “special military operation.”

According to a message on the collection’s website,

“The new NFT series was meant to spread truthful information among the digital community in the world and to collect donations for the support of Ukraine,”

Non-fungible tokens are a sort of cryptocurrency that gained a lot of traction last year. They employ bitcoin’s technology to track who owns a digital file, such as an image, video, or piece of writing.

Ukraine’s NFTs cost around $475

Ukraine’s deputy minister of digital transformation, Alex Bornyakov, said that bulletproof vests, helmets, meals, and medicines have all been purchased for Ukraine’s troops with crypto donations thus far.

NFTs are typically purchased with cryptocurrencies like Ethereum (ETH). Ukraine’s NFTs will cost 0.15 ether, or just over $475, at first. According to the website, the funds will be sent directly to Kyiv’s digital crypto wallets. However, many onlookers were perplexed by the rapid increase in NFT sales, wondering why so much money being spent on products that don’t exist.

Nonetheless, in recent months, they have become a popular fundraising tool, with groups of people combining their crypto assets to buy NFTs to promote awareness for a specific cause.

OpenSea switches to smart contracts architecture

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OpenSea, a leading platform for non-fungible token (NFT) trading, has modified its smart contract architecture to accommodate the content of its customers.

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On February 26, 2022, OpenSea, the biggest Ethereum-based decentralized program, stated that its functions have been migrated to the improved smart contract.

The exchange said that all NFT holders who want their tokens to be available on the service can relist their tokens at no expense. According to the post, “Unmigrated” listings have passed their expiration date and will no longer be supported. However, the migration period began on February 18 and ended on February 25 of this year.

OpenSea can now roll out new features such as more descriptive signatures and bulk cancellation after migrating to the upgraded Wyvern smart contract and removing inactive listings. The EIP-712 standard is used in the new Wyvern 2.3 contract, which considerably decreases the chances of phishing frauds.

This takes us back to the largest phishing fraud attempt in the record of the NFT segment that had reportedly targeted OpenSea’s NFT owners.

Seventeen high-profile NFT advocates had their funds stolen by criminals using fraudulent smart contracts. Fraudsters took a number of valuable NFTs from the BAYC and Azuki collections, resulting in net losses of $1.7 billion.

OpenSea disabled features temporarily during migration

OpenSea gave users a week to move their nonfungible token (NFT) listings, which concluded on Friday. Following the deadline, the company announced that due to the relocation, several functions on the site will be temporarily unavailable.

The company released a new smart contract on February 19, 2022, and advised users to begin migrating their NFT listings from the previous contract to the new one.

However, the network reported phishing assaults shortly after the introduction, resulting in some customers losing their NFTs. Following this, the OpenSea team conducted an investigation into what had occurred. OpenSea co-founder Devin Finzer suggested affected parties contact the company’s support team. This issue was resolved by Mintable, another NFT platform.

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Furthermore, the contract conversion was completed on Friday, with the platform notifying users that active listings on the platform may be hidden and that floor prices may fluctuate. The platform, however, stated that this is merely a temporary situation. The company said that until  the transfer was complete, bids and purchases would be temporarily prohibited to protect listings.

OpenSea is the most popular Ethereum-based decentralised application and the largest NFT marketplace. It has over 50,000 daily users, and its trading volume has surpassed $3.7 billion in the last 30 days, despite a significant drop in interest in NFTs.

NFT acclimation in the entertainment industry

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Hello Sunshine, a media company founded by Reese Witherspoon, has partnered with World of Women (WoW), a non-fungible tokens (NFT) community dedicated to breaking down barriers in the misogynistic world of cryptocurrencies while embracing diversity and equality. This barrier-breaking move was announced by World of Women on their Twitter handle on Friday, 18 February 2022.

World of Women began in July 2021 with 10,000 female-created artworks. It is now becoming one of the most valuable and successful non-fungible token providers.

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World of Women NFTs

Hello Sunshine will enhance the World of Women character world and trademark into entertainment products such as feature films, narrative, and reality TV shows as part of the deal. The initiative is yet another indication of non-fungible tokens’ rising appeal and the value they may provide to conventional media organizations on the hunt for intellectual property. Witherspoon stated,

“While the crypto and NFT space is largely dominated by men, there are inspiring leaders like World of Women creating incredible communities for women during this massive shift for media and technology.” 

In cooperation with other various women-led non-fungible tokens initiatives, they would also launch a Hello Sunshine x World of Women live event. The purpose is to inform women about this changing area. The second series of non-fungible tokens from World of Women will be launched in 2022. According to reports, the company’s digital art may now sell for six figures and now have earned over $120 million in trade.

Curio and Universal Music Group have teamed up to create NFT Fan Collections

Curio, the non-fungible tokens forum for entertainment brands and musical artists, and Universal Music Group (UMG), the music-based entertainment company, have announced, on 17 February 2022, that the duo will partner to create non-fungible tokens projects.

Michael Nash, Universal Music Group’s Executive Vice President, Digital Strategy, said,

“With Curio, our labels will have a secure and dedicated platform to host these premium projects and provide new opportunities for collectors and fans from around the world to acquire unique pieces, inspired by their favorite artists and labels.”

Curio released its first non-fungible tokens in February last year, after launching in 2020. Over 75,000 pieces of digital art with media brands have been issued by the organization to date. 

That being said, the firms are collaborating to release the inaugural issue in March, which will feature Capitol Music Group star, Calum Scott.

Victoria’s Secret enters the Metaverse

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Victoria’s Secret is among a burgeoning array of names filing trademarks for non-fungible tokens (NFT) and Metaverse prospects in the fashion business.

Remember when almost every firm had to establish a MySpace page or hire a younger person to give their business a snappy Twitter presence? Some things simply become the standard because every other firm does them, and every Entrepreneur assumes that his or her brand must follow suit.

In most cases, this results in positive outcomes, such as corporations providing customer support assistance through social networking sites. In February, mainstream business investment in NFTs and the Metaverse remained high. This is despite a substantial decline in NFT market activity during the beginning of February. In January, NFT trading activity reached an all-time high, with OpenSea setting the pace.

According to trademark expert Josh Gerben, lingerie behemoth Victoria’s Secret has filed many trademark applications with the US Patent and Trademark Office, indicating that it aims to trade virtual lingerie, footwear, hats, eyeglasses, purses, and fashion accessories. Gerben, on 14 February 2022, took to Twitter to announce that Victoria’s Secret is planning to sell virtual lingerie in the metaverse.

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Josh Gerben on Twitter

According to the company’s registration, it also intends to hold virtual fashion displays.

According to Forbes, Gerben expects practically every big company to be metaverse-ready in the coming year. He further added,

“I think you’re going to see every brand that you can think of making these filings within the next 12 months.”

Victoria’s Secret caught up with the vogue

Several prominent brands and corporations have applied for trademarks connected to NFT and the Metaverse in recent weeks. Gucci was one of the first premium fashion brands to sell NFTs, with Louis Vuitton, Prada, and sportswear brands Adidas and Nike. The spike in enthusiasm has been so great that Nike purchased digital collectibles and footwear producer RTFKT last year.

Victoria’s Secret has joined the expanding list of leading companies to enter the Metaverse, following last week’s revelation of Gucci’s property purchase on the Sandbox. Will this trend become bigger and better? We’ll have to wait and see what happens.

NFT profile pictures confirmed for OnlyFans

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OnlyFans, a prominent adult membership network, will now allow users to upload verified non-fungible tokens (NFTs) as profile images.

The platform will only handle tokens created on the Ethereum blockchain, and non-fungible token profile images will have an Ethereum emblem to indicate that they are genuine. According to Reuters, which broke the story first, the corporation introduced NFT profile images in December.

OnlyFans, which debuted in 2016, has grown in popularity as a way for content creators to monetize their work by selling it to members. Many current social networking firms, like Twitter, have leaped into introducing digital art profile images, and this is just one of them. According to the source, the corporation has indeed been working on developing this function for the previous two months.

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OnlyFans NFT profile pictures

According to OnlyFans CEO Ami Gan, the introduction of non-fungible tokens profile images is merely the first stage in the company’s non-fungible tokens journey. Furthermore, Ami Gan said,

“This feature is the first step in exploring the role that NFTs can play on our platform.”

Last month, Twitter introduced verified digital art profile images, but the feature is currently only available to premium customers of the company’s service. According to sources, as Meta, the parent firm, continues to push deeper into the metaverse, Facebook and Instagram are reportedly planning to implement a similar function.

Could the NFT trend be a game-changer for the crypto world?

When social networking behemoth Twitter opted to use NFT profile images, it generated quite a stir. It undoubtedly caused a schism on the platform. While some welcomed it, others chastised the platform for investing in it rather than removing crypto scammers from the network.

In perspective, cryptocurrencies have already been adopted by a number of adult video websites. In April of 2018, Pornhub began taking the Verge cryptocurrency. Bitcoin and Litecoin were reportedly added to the website’s payment options in early September 2020, according to reports.

However, even though cryptocurrency adoption has been slow across the board, the fact that OnlyFans has joined the NFT bandwagon suggests that cryptocurrencies may soon become a staple in adult entertainment.

Coachella partners with FTX to launch NFT

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The well-known giant music festival, Coachella Valley Music and Arts Festival, has entered an alliance with crypto exchange FTX US to issue an accumulation of non-fungible tokens (NFT). The popular music festival took to their Twitter handle, on 1 February 2022, to announce the same.

After a long break of two years, due to the coronavirus pandemic, the much-awaited music festival seems to be returning with a bang this April. Coachella’s new set of NFTs, Coachella collectibles, will provide on-site advantages and VIP entries to the event which will embark on this come-back, according to their website. This advanced alliance aims to cultivate crypto-based endurance at the famous festival.

The NFTs which happen to be in a restricted bunch will be dropping in this Friday, 4 February 2022. This marketplace is built on the Solana blockchain. However, the users must have an account on the US-regulated crypto exchange, FTX US. The gains from the elements sold will be donated to Give Directly, Lideers Campesinas, and Find Food Bank, with a percentage that will support the founders involved.

Sam Schoonover, the innovation lead of the music festival, said that only blockchain technology can give a unique ability to offer tradeable lifetime passes to the music and arts festival. He added,

“As the metaverse continues to develop, we will create more opportunities for fans to have fun and interact with each other and their favorite artists both online and offline.”

Coachella collectibles can be exchanged for real-world passes

The collectibles are being offered in a variation of three sets. The first set is called Coachella key collection, which grants lifetime entrance to the festival with additional VIP perks. This set is found only in ten tokens. The features offered through these keys are said to evolve and grow every year.

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The remaining two sets are limited-edition token collections for the fan base. The second one is The Dessert Reflections Collections, these can be exchanged for photobooks which consist of pictures from the festival. This set is available in 1000 tokens, priced at $180 each.

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The third collection, found in 10,000 tokens, is called Sights and Sounds Collections. These offer soundscapes from the Polo Fields.

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This is the first time that any music festival has used NFTs in exchange for lifelong passes in the real world.

NFT wave hasn’t hit Kanye West yet

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While the monthly trading volume of non-fungible tokens (NFT) reached an all-time high of $6 billion in January, the American rapper, record producer, and fashion designer, Kanye West, gave clarity about him not being enthusiastic about joining the market for NFT. The rapper took to his Instagram handle to express his opinion to his 10.5 million followers, on 1 February 2022.

Despite the fact that many celebrities have invested in the pitch, the record producer does not seem to be interested in entering the digital art world just yet. In a robustly phrased handwritten post, he said,

“My focus is on building real products in the real world. Real food. Real clothes. Real shelter. Do not ask me to do a fucking NFT. Ask me later.”

While there had been speculations about Ye being engrossed in the digital collectibles, the rapper turned fashion designer seemed to bar any further conjectures through his Instagram post. He asked everyone to stop asking him to make NFTs. Ye asserted that he was not on the particular wave, yet. The rapper seemed to taunt the fact that these digital collectibles are only virtual and that they don’t exist in reality by stressing that he makes ‘music and products in the real world’.

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NFT wave hasn't hit Kanye West yet 16

Even though the aggressive post seems to have dismissed the idea of Kanye west joining the NFT experience, he leaves some hope for deliberation. At the end of the post, Ye wrote, “Ask me later,” which could mean that with time, the rapper might endorse non-fungible tokens in the future.

Celebrity endorsments in NFT market, a recent trend

There have been several celebrities like Paris Hilton, Snoop Dogg, Jake Paul, Eminem, founder of Def Jam Recordings Russell Simmons, and NFL player Tom Brady that have bought or expressed an interest in the market of digital collectibles.

Stars like the NBA legend, Stephen curry, and Model Emily Ratajkowski have made their own non-fungible tokens and launched them on Metaverses.

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Stephen Curry-Under Armour NFT in Metaverse 3

With big brands such as Nike, Crocs, Adidas, and Under Armour making progression into increasing their benefaction of NFTs, it doesn’t come as a surprise that the NFT market rose to a stunning high of $41 billion in 2021.