Porsche, criticized for “little effort” put into its NFT, ends mintage early
The car manufacturer Porsche has had to stop minting its famous white 911 model with non-fungible tokens (NFTs) just two days after public minting began, claiming that its “holders have spoken”..
The January 23 launch was considered by some to be a huge flop for Porsche.since at the time of writing these lines, only 2,040 of the 7,500 NFTs available had been sold.
Our holders have spoken. We’re going to cut our supply and stop the mint to move forward with creating the best experience for an exclusive community. More info in the next hours.
— PORSCHΞ (@eth_porsche) January 24, 2023
Our clients have spoken. We are going to cut off the supply and stop the minting to move forward with creating the best experience for an exclusive community. More information will come out in the next few hours.
The mint was widely criticized by the cryptocurrency community for its “low effort,” “refusal” to listen to the public, and excessive pricing.. The price of the NFTs was set at 0.911 Ether (ETH) ($1,417).
Really sad. No community. No comms. No value. Glad our community hasn’t fallen for it. Big brands should take note. This is a valuable lesson for them. Extracting value is not gonna cut it.
— Staś May (@haymaker_studio) January 24, 2023
It really is sad. There is no community. Without communication. Worthless. I’m glad our community didn’t fall for it. Big brands should take note. This is a valuable lesson for them. Extracting value is not going to be enough.
Sales in secondary markets have been undercutting live mintage: some have been sold for as little as 0.86 ETH.
After announcing that it would cut the offer, Porsche clarified that minting would remain open until 11am UTC on January 25. The collection experienced a FOMO-driven buying spree that temporarily pushed up the minimum price.
Crazy sequence of events w/ @eth_porsche
– Tweet on supply cut & stopping mint
– FP swells by .3 ETH
– Everyone realizes mint is still open
– Everyone mints #NFTs & sell immediately
-FP returns to mint price
– Porsche for selling ~160 NFTs in – Shrewd traders pic.twitter.com/p1Kch1OrLH
— metaversatile.eth (@metaversatile_) January 24, 2023
@eth_porsche’s crazy sequence of events
– They tweet that they will cut off the supply and stop the minting
– The minimum price falls by .3 ETH
– Everyone realizes that the mint is still open
– Everyone mints NFTs and sells immediately
– The minimum price returns to its minting price
– Porsche, for selling ~160 NFTs in less than 1 hour
– Shrewd Traders pic.twitter.com/p1Kch1OrLH
the cookie company Oreo has launched its own Metaverse, the OREOVERSE, an interactive digital world where cookie lovers can play cookie-themed games and enter a raffle.
Introducing our newest Limited Edition OREO Cookie: The Most OREO OREO This OREO cookie features ‘Most Stuf’ creme with bits of OREO wafer.
With a cookie so meta, it’s only right that we’re dunking into the Metaverse with our very own OREOVERSE: https://t.co/v15kHRyxDu pic.twitter.com/yVfcFCDV7a
— OREO Cookie (@Oreo) January 24, 2023
Introducing our new limited edition OREO cookie: The Most OREO OREO. This OREO cookie has “Most Stuf” cream with OREO bits. With such a meta cookie, it’s only fitting that we dive into the Metaverse with our own OREOVERSE: https://t.co/v15kHRyxDu pic.twitter.com/yVfcFCDV7a
The OREOVERSE is found on desktop computers, mobile computers and in Horizon Worlds of Metawhere users with a Meta Quest headset can enter the Metaverse and experience it in virtual reality (VR).
Oreo has enlisted the services of television personality Martha Stewart and her gardener and friend Ryan McCallister to promote the Oreo-inspired digital world.
The grand prize draw gives users the chance to win USD 50,000 among a series of smaller prizes.
The Metaverse announcement coincided with the unveiling of its latest limited edition cookie called “Most OREO OREO.”which has a “Most Stuf” cream center, filled with Oreo bits.
Nike kicks off its NFT market with the Air Force 1
In his first NFT collection on his NFT marketplace “.SWOOSH Studio”, Nike is releasing an NFT collection influenced by its iconic Air Force 1 sneakers following a community vote.
Polygon-based NFTs (MATIC) will go on sale on January 25, according to a January 23 tweet by Jasmine Gao.Product Manager at Nike Virtual Studios.
.SWOOSH Studio, Nike’s home for virtual co-creation, launches this Wednesday 1/25
Last month, the .SWOOSH community voted on their favorite AF1 sneakers to influence the upcoming Our Force 1 collection journey.
Now, get ready to build it with us. pic.twitter.com/to3VyBgbSJ
— Jasminelil.SWOOSH (@jgao) January 24, 2023
.SWOOSH Studio, Nike’s home for virtual co-creation, will launch this Wednesday, January 25. Last month, the .SWOOSH community voted for their favorite AF1 shoes to influence the next step in the Our Force 1 collection. Now get ready to build it with us. pic.twitter.com/to3VyBgbSJ
Nike announced its NFT marketplace on November 14 of last year.which Nike Virtual Studios CEO Ron Faris said would help “embark the next million” into the “wonderful world of web3 and digital assets.”
It is a community-driven Web3 digital art platform that offers members the opportunity to collaborate on virtual creations with the global fashion brand through community challenges..
According to the November 14 press release, members who win the challenge will also be able to earn royalties for the virtual product they help create.
Nike also suggested that digital wearables would eventually be used in games and other “immersive experiences.”.
Twitch co-founder Fractal brings her games to Polygon
the game company Fractal to Expand its F Studio Product Suite to the Polygon Blockchain Bringing 30 Polygon Gaming Partners with It.
Excited to announce the launch with Fractal’s 30 Polygon partners. Watch the video reveal pic.twitter.com/VuIRThkof5
—Polygon Gaming (@PolygonGaming) January 24, 2023
❄️ FRACTAL EXPANDS TO POLYGON. Minting, tournaments, a marketplace and @fractalwagmi studio are now available on Polygon. We are excited to announce the launch with Fractal’s 30 Polygon partners. Watch the reveal video here. pic.twitter.com/VuIRThkof5
Partners include games like Phantom Galaxies, Life Beyond, League of Kingdoms, Blast Royale and Sunflower Land.
Fractal is an NFT gaming marketplace founded by Justin Kan, co-founder of Twitch.which offers a launch pad for new projects and facilitates tournaments.
It also features a software development kit that allows developers to create in-game markets where players can buy and sell in-game NFTs.without having to go through the Fractal market.
The platform originally started on the Solana (SOL) network, but according to a Jan. 23 report from VentureBeat, Fractal is expanding into Polygon due to its speed, scalability, and ability to accelerate game development with the security of the Ethereum network..
Polygon Gaming will make a strategic investment in Fractal for an as yet undisclosed amountaccording to the report, in an effort to deepen the partnership between the two companies.
More Nifty News:
An up and coming NFT racing game called PetaRush has exhausted all of its available NFTs both on its whitelist and public sales. The game allows users to integrate some NFT collections from outside the game ecosystem through partnerships that allow them to use the intellectual property of other collections..
In a recent interview with Cointelegraph, the co-founder of the blockchain RPG Illuvium, Kieran Warwick suggested that casual gamers are “critical” to the success of blockchain games using NFTs. Animoca Brands President Yat Sui echoed this sentiment, stating that it would only take one good game to trigger a blockchain gaming boom..
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