Celebrities are facing huge losses from BAYC NFTs
The hype behind Bored Ape Yacht Club (BAYC) last year saw many celebrities investing in the Ethereum-based Nonfungible Token (NFT) collection, with many, like singer Justin Bieber, paying top dollar.
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 top bid cracks just over $69,500.
According to data from NFT Price Floor, the minimum price for the collection has dropped significantly from its peak of 144.9 ETH on May 1st this year, which was worth around $396,760 at the time, to a current low of 48 ETH worth $58,589 time of writing.
Plenty of other celebs also rode the hype that saw Yuga Labs turn NFTs into a “blue chip” collection, like entrepreneur Gary Vee, who still has a bunch of bored monkeys in his 2,400-strong NFT team collection, and TV host Jimmy Fallon, who bought BAYC #599 for $224,191 on Nov. 8, has a current top bid of $70,264.
It’s not all bad news for Bored Apes, however, as BAYC #8633 was purchased on November 17th for almost $747,500 by digital art collector Pransky, showing that there is still a lot of demand for Bored Apes with some rare ones attributes.
The Sussexes in talks for a ‘virtual world’
Prince Harry and Meghan Markle are “in advanced talks” with pax.world – a platform that will allow users to create their own Metaverse, according to a Nov. 15 Mirror article.
Sources claim that Markle is the driving force behind the plan. As a result, the metaverse has been cleverly dubbed the “Meg-Averse”.
The former working royals are believed to be looking for new ways to connect with their fans, seeing their rumored metaverse as a way to “make their brand fully global”.
According to pax.world founder Frank Fitzgerald, the Metaverse is perfect for the “progressive, tech-savvy” audience the couple wants to connect with while building on their brand .world country.”
Adidas Originals unveil the “Virtual Gear” collection
Adidas released an Ethereum-based NFT collection called the Genesis Collection on November 16th, which includes a range of wearables to be worn by virtual avatars.
INTRODUCING ADIDAS VIRTUAL GEAR
Revealing the adidas Virtual Gear 1/6 Genesis collection pic.twitter.com/FUt9Qhj8VO
– adidas Originals (@adidasoriginals) November 16, 2022
The sportswear giant calls the new product Virtual Gear and describes the collection as a “new, interoperable product category”, adding:
“[It] accelerates our collective effort to strengthen web3 and the community-based adidas Metaverse promise.”
Building on Adidas’ partnership with BAYC, Mutant Ape Yacht Club and Inhabitants, the 16-piece collection will allow users who own an Adidas wearable NFT and a participating partner’s NFT to “dress up” that NFT with their virtual Adidas wearable “.
Owners of the Adidas Originals: Capsule NFT Collection, which launched in May, can burn their Capsule NFT and replace it with a random NFT from the new collection.
Commenting on the collection, Nic Galway, senior vice president of creative direction at Adidas Originals, said Web3 offers new opportunities for its designers and collaborators, adding a “level of utility to be explored and even discovered as worlds and avatars take on new forms.” .”
Sony NFT gaming patent
In a patent filed in May 2021 and published on November 10, technology giant Sony announced its intention to integrate blockchain technology into its games.
The patent shows the company aims to track in-game assets using blockchain technology and NFTs, including a series of charts showing how it would do so.
Although the filing is currently only a patent, it could indicate that the entertainment giant is interested in joining the growing NFT gaming market.
Sony has already gotten a foothold in NFTs, having partnered with Theta Labs in May to launch a collection of 3D NFTs that can be viewed on its Spatial Reality Display, enabling visualization of 3D models .
More nifty news:
Crypto was at the forefront of the Abu Dhabi Grand Prix, with Red Bull Racing using NFTs on both Red Bull Racing driver team cars following a deal with crypto exchange Bybit.
BAYC creator Yuga Labs acquired Beeple’s browser-based NFT game on November 15th. The game allows players to equip heroes with crafted loadouts and items to complete missions, and Yuga Labs has hinted that it could be merged into their Otherside Metaverse ecosystem.