This week’s newsletter highlights Yahoo’s plans to participate in non-fungible tokens (NFTs) and metaverse-based projects. In addition, watchmaker TAG Heuer is diving into NFTs, and the number of digital collection platforms in China has increased despite government warnings.
On a positive note, CryptoPunk donated to Aid to Ukraine was sold for over $100,000. And don’t forget this week’s Nifty News review, which features new brand leader CryptoPunks and a phishing attack on a Solana-based project.
Yahoo Launches Metaverse Events for Hong Kong Residents Amid Restrictions
Internet company Yahoo recently announced its plans to participate in a series of NFT and Metaverse projects in Hong Kong. This includes hosting virtual events and concerts in the metaverse in an Asian country.
According to Lorraine Cheng, chief executive of Yahoo Hong Kong, activities in the Metaverse are seen by Hong Kong residents as a good alternative to social interaction as pandemic restrictions are still very strictly enforced and people must test negative for COVID-19. before entering bars or restaurants.
Yahoo will also partner with local artists to launch an NFT exhibit called The Abyss of Kwun Tong.
Swiss luxury watchmaker TAG Heuer unveils NFT-enabled smartwatch
TAG Heuer, a luxury watch manufacturer, has partnered with key members of the NFT community to create smartwatches that can display NFT. The watch will allow users to connect to crypto wallets such as MetaMask and Ledger Live to choose which NFTs to display on the smartwatch screen.
Watch owners will also be able to resize images to fit the screen and connect to the blockchain to verify ownership of the NFT and display a hexagonal version of the artwork. The company also said that in addition to supporting images, it will also support GIFs and infinite loop animations.
NFT Platforms in China Grow 5x in Four Months Despite Government Warnings
Despite warnings from the Chinese government about the risks of investing in NFTs, the number of platforms focused on digital collectibles has risen to over 500, five times more than in February. Local Chinese reports attribute the rise to growing NFT hype domestically. Tech bigwigs like Tencent and Alibaba have also shown interest in the NFT space and have recently filed their own trademark patents.
UAE issues world’s most expensive modern postage stamp
Ukraine Sells 90 ETH CryptoPunk NFT Donation Worth Over $100,000
CryptoPunk #5364, an NFT that was donated to support the Help Ukraine campaign, was sold for 90 Ether (ETH), which was worth $102,640 at the time of the sale. Oleksiy Bornyakov, Deputy Minister of Digital Transformation of Ukraine, announced the sale of CryptoPunk on Monday. The price of the NFT has increased from its initial value of 16.19 ETH, or $31,722, which is what it was worth at the time it was acquired by the donor.
Nifty News: Christie’s NFT Expert To Lead CryptoPunks, Fake Heiress Launches NFT Collection
NFT specialist Noah Davies has announced that he is leaving his post at the British auction house Christie’s. In his tweet, Davis noted that he would be joining Yuga Labs to become the Brand Lead for the CryptoPunks project. Meanwhile, the NFT project Duppies, based in Solana, has been the victim of a phishing scam. Users have reported losses online, with one user claiming to have lost 650 SOL worth $18,850 at the time of the attack.
Thank you for reading this digest of the most notable events of the week in the NFT space. Come back next Wednesday for more reports and insights on this booming field.
Credit : cointelegraph.com