Celebrities face huge losses from their BAYC NFTs
The hype behind the Bored Ape Yacht Club (BAYC) over the past year has resulted in many celebrities investing in the collection of Ethereum-based non-fungible tokens (NFTs).and many like the singer Justin Bieber paid a lot of money.
Bieber paid 500 Ether (ETH) for BAYC #3001 on Jan. 29, which was valued at around $1.28 million at the time, while the NFT’s current maximum bid closes at just over $69,500..
According to NFT Price Floor data, the collection’s floor price has fallen considerably since it peaked at 144.9 ETH on May 1 of this year, which was worth about $396,760 at the time, to a current low of 48 ETH, valued at $58,589 at the time of writing this article.
Many other celebrities also rode the wave of anticipation that saw NFTs made by Yuga Labs become a “top notch” collection.such as businessman Gary Vee, who still has several Bored Apes in his collection of 2,400 NFTs, and TV host Jimmy Fallon, who bought BAYC #599 for $224,191 on November 8, which has a current maximum bid of $70,264 .
However, it’s not all bad news for the Bored Ape; On November 17, digital art collector Pransky purchased BAYC #8633 for almost $747,500, showing that Bored Ape with some rare attributes continues to be in high demand..
Prince Harry and Meghan Markle are talking to open a “virtual world”
Prince Harry and Meghan Markle are “in advanced talks” with pax.world, a platform that allows users to create their own metaverseaccording to a Mirror article on November 15.
The sources claim that Markle is the promoter of the plan. As a result, the metaverse has been cleverly nicknamed the “Meg-verse”..
It is believed that the former working royal is looking for new ways to connect with her fans and sees her so-called metaverse as a way to “bring her brand globally.”.
According to pax.world founder Frank Fitzgerald, the metaverse is perfect for the “forward-thinking and tech-savvy” audience the couple is looking to connect with while building their brandsaying the platform is offering the couple “a prime plot of land from pax.world.”
Adidas Originals presents a collection of “virtual teams”
Adidas on November 16 launched an Ethereum-based NFT collection called the Genesis Collection, which features a set of wearables designed to be worn by virtual avatars..
INTRODUCING ADIDAS VIRTUAL GEAR
Unveiling the genesis collection of adidas Virtual Gear 1/6 pic.twitter.com/FUt9Qhj8VO— adidas Originals (@adidasoriginals) November 16, 2022
INTRODUCING ADIDAS VIRTUAL GEAR. Introducing the adidas Virtual Gear 1/6 Genesis Collection pic.twitter.com/FUt9Qhj8VO
Calling the new product Virtual Gear, the sportswear giant has labeled the collection a “new interoperable product category”adding:
“[Acelera] our collective drive towards strengthening web3, and the promise of an open metaverse based on the Adidas community, which puts members first”
Building on Adidas’ partnership with BAYC, Mutant Ape Yacht Club and Inhabitants, the 16-piece collection will also allow users who own an Adidas NFT and an NFT from a participating partner to “dress” that NFT with their virtual Adidas wearable.
Owners of the Adidas Originals: Capsule NFT Collection, which launched in May, will be able to burn their capsule NFT and replace it with a random NFT from the new collection..
Commenting on the collection, Adidas Originals Senior Vice President of Creative Direction, Nic Galway said that Web3 offers new opportunities for its designers and contributors 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 filed in May 2021 and made public on November 10, Tech conglomerate Sony has revealed its intention to incorporate blockchain technology into its games.
The patent shows that the company intends to track gaming assets using blockchain technology and NFTs.including a series of diagrams showing how you would do it.
Although the filing is just a patent at this time, it may indicate that the entertainment giant is interested in joining the growing market for NFT games.
Sony has already dabbled in the NFT space; partnered with Theta Labs in May to release a 3D NFT collection that can be seen on its Spatial Reality Display, which allows viewing models in 3D.
More Nifty News:
Cryptocurrencies have been on the front lines at the Abu Dhabi Grand Prix; Red Bull Racing introduced NFT on both Red Bull Racing driver team cars following an agreement reached with the Bybit cryptocurrency exchange.
The creator of BAYC, Yuga Labs, on November 15, acquired Beeple’s browser-based NFT game. The game allows players to equip heroes with crafted loadouts and items to complete quests, and Yuga Labs has hinted that it could merge with their Otherside metaverse ecosystem..
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