OneOf closes $8M strategic round,launches NFT for American Express event

OneOf, a Polygon (MATIC)-based Web3-focused platform that seeks to promote the sector’s growth around music, sports and brands, has closed an $8 million round in a strategic round that included several leading investors.

Backing for OneOf in this latest financing round were investments from Amex Ventures, Chain Link Crypto Fund, Mirabaud Lifestyle Impact, Snow Hill Ventures, and Sangha Capital. These join existing investors such as Galaxy Digital, Nima Capital, leading venture capitalist Bill Tai’s Actai Unicorn Fund, Tezos Foundation, Andromeda Capital, and Sanctor Capital among others.

With the NFTs market continuing to see new growth momentum following a crypto winter lull, OneOf is looking to use the fresh capital infusion to fast-track development around its green NFT marketplace.

OneOf CEO Lin Dai said in a statement that the strategic round reflects the confidence investors have in the company, noting that the key support would help bring the benefits of Web3 to creators. According to Dai, the funding will help the platform achieve its goal of helping onboard the next 100 million non-crypto native users from across the world into the NFTs and blockchain ecosystem.

“As the Web3 market matures and consolidates, we see great opportunities in creating new commerce models, enabling creators of all shapes and sizes, from the biggest global brands to the newest independent artists, to unlock the real world potentials of this new technology.”

The platform, which has now raised over $72 million from investors, announced that it had also launched an NFT collection for American Express (NYSE: AXP)to mark the three-week Colour Oasis Popup Experience event. The NFTs will be available to American Express Card Members at the event in Bodrum, Turkey.

The unique NFT collection is designed by Selay Karasu, a celebrated Turkish artist whose works have been featured at MOMA NYC, Art Babel and Burning Man.

The American Express event began on 29 July and will conclude on 21 August 2022.In May, Polygon (MATIC)-based OneOf partnered with eBay as the ecommerce giant rolled out its debut limited edition NFTs featuring hockey legend Wayne Gretzky.

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Yuga Labs to start taking a 5% royalty on Meebits secondary sales

Yuga Labs, the $4 billion startup behind the Bored Ape Yacht Club (BAYC), Bored Ape Kennel Club (BAKC), and Mutant Ape Yacht Club (MAYC) NFT collections, has announced that it shall start taking a 5% royalty fee on Meebits secondary sales.

The move will leave CryptoPunks being the only NFT collection owned by Yuga Labs that does not attract royalty fees on subsequent sales after the startup purchased the rights of both CryptoPunks and Meebits in March this year.

There are also speculations that Yuga Labs may also start taking loyalty fees on CryptoPunks soon.

Both Meebits and CryptoPunks were initially products of Larva Labs before Yuga Labs purchased the rights.

Larva Labs has remained a popular entity within the crypto industry partly because of its capability of serving avatars in the

metaverse.

As Yuga Labs sets its eyes on increasing revenue, a law firm called Scott+Scott is accusing it of allegedly employing “celebrity boosters and endorsements to increase the price of the company’s NFTs and token.”

According to Scott+Scott, Yuga Labs is looking for those investors who “suffered losses in connection with the acquisition of Yuga Labs tokens or NFTs between April 2022 and June 2022.” In the litigation, the law firm also mentions ApeCoin (APE) a cryptocurrency linked to Bored Ape Yacht Club (BAYC) and Otherside metaverse project.

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Exclusible announces pre-mint of Penthouses

Exclusible, a platform for elite metaverse properties and luxury NFTs, has launched Exclusible Penthouses, luxury real estate that will go live in the Spatial.io metaverse, Invezz learned from a press release. The properties can be minted from June 18.

More than 30,000 potential buyers have registered to mint the penthouses in the metaverse. Leading fashion brand Christian Lacroix reserved an Exclusible Penthouse.

The luxury penthouses are suitable for social and commercial use and are compatible with VR and AR. They appeal to media-focused, high-profile brands, individuals, and communities and can accommodate up to 50 guests at once.

The properties come in quartz, ruby, and obsidian color variations and with various panoramic views of Paris, Dubai, Vegas, Miami, and other real-life locations. They are assigned to buyers at random and minted in varying levels of rarity.

Each penthouse features a state-of-the-art design and has an area equivalent to 500 sqm, designed by Polycount.io. Each also has a fascinating reception space on par with the highest lifestyle standards, featuring a screening room, a historical turntable and bar cart, a bedroom, and an outdoor sky lounge equipped with its own helipad and fully animated helicopter.

The helicopter transforms into a portal through which exclusive digital events can be accessed. What’s more, each penthouse makes it possible for owners to display their NFT asset portfolio on the wall as a work of art, rotating their collection as they wish. This is a way for them to personalize and curate their environment.

The Penthouse Collection is another milestone for the luxury NFT brand, marking the beginning of the next chapter in the platform’s metaverse expansion. Exclusible cofounder and CEO Thibault Launay summarized:

This project is a culmination of our hard work in building the Exclusible brand as the go-to destination for luxury digital real estate. If you ever wanted to host your own penthouse party with close friends or business colleagues, Exclusible is ready to help you realize your dreams.

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Nickelodeon NFT launch targets nostalgia: ‘The 90s called’

NFTs constantly astonish us, and it’s not unusual for brands to drop a new NFT collection amid the web3 era’s combat to be the most prominent faces.

Nickelodeon, a renowned American children’s cable television network, has hinted at a future NFT drop in partnership with the Recur NFT platform.

The 90s called ??

They want your attention back ???

If you’re reading this…you’re early#NickelodeonNFT pic.twitter.com/VJBGUbTjAS

It seems that Nickelodeon created an official Twitter account for their NFTs alone. Twitter users originally suspected the account was bogus, but Recur subsequently verified the drop. To celebrate the introduction of Nick’s NFT account, Recur is also giving out commemorative roles and passes via their Discord channel. 

“The ’90s called,” the teaser video states, “They want your attention back.” The video then adds, “The following programme is rated Web3,” followed by chunks of vintage footage displayed on an old TV with some retro stickers.

Taking throwback Thursday to a whole new level #NickelodeonNFT https://t.co/OR9aJsuJ8m

This @nickelodeon_nft movement is MASSIVE!??

We've passed 40K members in our Discord (??), so to celebrate, we're giving away a RECUR Pass in our Discord.??

+ if we hit 50K server members by 9PM ET tonight, we double it and gift out TWO RECUR Passes ??https://t.co/O1srX9JTT1 pic.twitter.com/6jUyryBAfF

Recur is a technology firm specialising in NFTs and blockchain that is collaborating with Nickelodeon on this project and running its own Discord server.

Although little is known about the initial wave of Nickelodeon NFTs, promotional trailers for the platform indicate that the NFTs could focus on iconic Nickelodeon series such as Rugrats and Hey Arnold!

Nickelodeon fans are already divided over the NFT drop, with some ecstatic at the announcement and others dissatisfied, noting the environmental impact of NFTs.

What began as a transient experiment has now become a popular reality. Currently, NFTs are more than simply collectables; they are likely a way of life for the younger generation.

While giants such as Nike have successfully sold NFT sneakers for $134,000, premium labels such as Prada have successfully entered the web3 arena with the launch of their NFT drop.

Meanwhile, the crypto market has been functioning sluggishly with no indications of a positive resurgence, while the other businesses that blockchain has to offer are thriving.

The release of Nickelodeon NFTs is reassuring evidence that NFTs have a long way to go, and many more forgotten brands will certainly embrace it as a vehicle to relaunch their story.

The show is just getting started; welcome back to the 1990s.

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Top NFT platform tokens to get on June 9

Flow FLOW/USD, The Sandbox SAND/USD, and Gala GALA/USD are some of the best NFT platform tokens that you can get on June 9.

On June 4, Two events and contests were ongoing in The Sandbox, including playing with Snoop Dogg avatar holders and the search for Pororo. It is clear that this is an active metaverse and community.

On June 8, Gala announced that Galaverse Europe 2022 was completed and thanked everyone who made it happen.

On June 9, 2022, Flow Blockchain’s official Twitter handle shared that they got Flunks in the building for Office Hours, where anyone is given the opportunity to ask them about anything.

All of these projects are filled with an active community and have solid engagement, and could increase in value going forward.

On June 9, 2022, Flow (FLOW) had a value of $2.419.

The all-time high of Flow (FLOW) was on April 5, 2021, when the token reached a value of $42.40.

When we go over May, Flow (FLOW) had its highest point of value on May 5 at $5.2013.

Its lowest point was on May 27 at $2.333. Here we can see a decrease in value by $2.8683 or by 55%. 

With this in mind, FLOW is a solid buy as it can climb to $4 by the end of June 2022.

On June 9, 2022, The Sandbox (SAND) had a value of $1.30657481.

Going over the all-time high point of value of The Sandbox (SAND) was on November 25, 2021, when the token reached a value of $8.40.

Going over the performance of the token throughout the previous month, The Sandbox (SAND) had its highest point of value on May 5 at $2.4342. Its lowest point was on May 12 at $1.0524.

This marked a decrease in value of $1.3818 or 56%. With all of that taken into consideration, SAND is a solid buy at its current price point as it can climb to $2 by the end of June.

On June 9, 2022, Gala (GALA) had a value of $0.07682.

Looking at its all-time high, Gala (GALA) was on November 26, 2021, when the token reached a value of $0.824837.

Looking at the token’s performance throughout the previous month, Gala (GALA) had its highest point of value on May 4 at $0.1622; Its lowest point was on May 12 at $0.05457.

Here we can see a decrease of $0.10763 or 66%. At $0.07682, GALA can be a solid buy as it can reach $0.12 by the end of June 2022.

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NFTs achieve another milestone with the arrival of Esaiyo Protocol

Using non-fungible tokens (NFTs), creators made a fortune last year by selling digital art, collectables, and gaming elements.

Meanwhile, the core of every NFT is its metadata. This information includes the NFT’s name, characteristics, properties, history, digital rights, ownership, etc.

While there is a great deal of focus on bridging assets across chains and platforms, there is minimal monitoring of the NFT’s metadata.

In addition, preserving this information directly on a blockchain is costly. Hence, most NFT projects store their data on centralised servers and maintain a link to it in their smart contract.

According to an exclusive press release shared with Invezz, the upcoming blockchain protocol Esaiyo is here to alter the game by making NFTs more resilient, safe, and decentralised. 

The platform has recently published its white paper, and its unique technology is certain to stir up the blockchain space.

Esaiyo Trace, the flagship product of Esaiyo Protocol, retains the asset’s transactional and intended behaviour and its attributes throughout the entire life of the NFT. So moving or burning NFTs across chains, according to Esaiyo, really shouldn’t leave essential information behind.

Therefore, Esaiyo Trace protects all elements of the original asset while migrating it to preserve the core functionality of blockchain technology.

Esaiyo Trace allows the cross-blockchain transfer of precise information and data that comprise the entire picture of the asset while retaining its provenance and a coherent audit trail of all the steps across the source and destination markets and blockchains.

According to Raymond St. Martin, CEO of Esaiyo:

“Memories, history, relationships and stories add value to objects and contain value within themselves. We built Esaiyo in order to capture, connect, preserve and display the history and connectedness of physical and virtual objects”

In addition to issuing its White Paper, Esaiyo has collaborated with the Government of Barbados to evaluate how its proprietary software can be used to safeguard Barbados’ ownership of its cultural data.

Through the introduction of the ROAD Initiative, Esaiyo intends to link the narratives of Barbados’ people, culture, locations, and notable objects.

This venture was unveiled in December at a press conference where Barbados Prime Minister Mia Mottley, the project’s Architectural head Sir David Ajaye, and LMI’s Maxwell Anderson all engaged.

With clients as varied as NFT platforms, sovereign states, and huge manufacturers lined up to exploit Esaiyo’s technology, Esaiyo might be on the verge of solidifying its position in the future.

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Transgender teen earns $50 million by selling NFT artwork

Cryptocurrencies aim to make the world decentralised and all-inclusive, regardless of anyone’s background. And thus far, we’ve observed excellent progress towards that aim.

Meanwhile, NFTs continue to prove their worth as one of the most desirable digital assets in the market. Individual collectors are still purchasing art despite the overall market collapse.

According to NBC News, 19-year-old transgender artist Victor Langlois made $50 million in less than a year by selling his NFT artwork.

His NFTs and actual artwork were auctioned off for $2.16 million at Christie’s in New York City the previous year, bringing him to prominence. “Hello, I’m Victor (FEWOCiOUS), and This Is My Life” is the collection’s title.

After achieving initial success with his NFT artwork, Langlois extended his career by selling other digital artwork. In April 2022, Langlois sold $20 million worth of digital artwork in a single day. This was the third-largest transaction on the NFT marketplace Nifty Gateway.

The NFT collection portrays Victor’s life from the ages of 14 to 18 and describes the hardship of leaving his abusive home to live with his grandparents.

When he resided with his grandparents, he encountered the same unfortunate destiny. Victor said in an interview he did last year that he expected a better atmosphere, but everything remained the same as when he left home.

In addition, he described his problems with coming out as transgender and the statements his grandparents made when he engaged in artistic pursuits.

Her grandmother frequently criticised his artwork because she wanted him to pursue a career outside of the arts.

He also said that most of his artworks were created on his mobile device since he lacked access to drawing materials.

Artists who have embraced NFTs find it powerful, comparable to a new digital encounter in which they may create new aesthetics. In addition, NFT marketplaces provide artists with new possibilities to engage much more personally with a big audience.

Huge possibilities loom for everyone in the foreseeable future, creating a win-win situation for all parties.

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The Weeknd collaborates with Binance to launch the first crypto-powered world tour

Cryptocurrencies have recently been a major focus of attention, owing to the current bear market and mounting anxieties. Meanwhile, some positive news from the music world is being sweetened with cryptocurrencies.

Binance, the world’s biggest crypto exchange by transaction volume, has announced a collaboration with The Weeknd, the famed singer, songwriter, record producer, and global music prodigy.

According to the official announcement, Binance said today that it would be the official sponsor of The Weeknd’s “After Hours Til Dawn” tour, which will take place in July 2022. This is the first worldwide concert tour to use Web 3.0 technologies to improve the audience experience.

#Binance has partnered with @TheWeeknd to create the first global tour to integrate Web 3 tech: After Hours Til Dawn.

To mark the launch of the tour, Binance will donate $2 million to the XO Humanitarian Fund, which is administered by @wfpusa.

?? https://t.co/nf8e43FSDt pic.twitter.com/MJJiEUpmXC

To make this happen, Binance has teamed up with HXOUSE, a think tank and community incubator for creative businesses, to create an exclusive NFT collection for The Weeknd’s tour and co-branded tour apparel.

Furthermore, attendees’ virtual ticket stubs can access commemorative NFTs, which will present fans with one-of-a-kind experiences.

The Weeknd founded the XO Humanitarian Fund earlier this year as a United Nations Globe Food Programme (WFP) Global Goodwill Ambassador to help WFP’s lifesaving emergency operations in hunger hotspots worldwide.

Binance will contribute $2 million to the XO Humanitarian Fund, which World Food Program USA manages, to celebrate the start of the tour. Furthermore, The Weeknd and Binance are producing a specifically designed NFT line, with 5% of sales benefiting the XO Humanitarian Fund.

Commenting on his association with Binance, The Weeknd commented: 

“Binance is all about the community, about people, about inclusion. I was impressed by their focus on users and innovative edge.”

He further added:

“It made perfect sense to work together and I can’t wait for fans to experience crypto within a creative avenue while supporting a good cause. There are so many possibilities with crypto and I think this is just the beginning.”

Meanwhile, Binance’s co-founder Yi-He mentioned: 

“We are excited to be an exclusive crypto partner of The Weeknd’s tour, giving fans and people the ability to interact with crypto in a new avenue.” 

He further added: 

“Crypto is community-centric and we believe this partnership embodies that, including empowering local artists and giving back, through a mainstream platform.”

The world is changing faster than ever before, and given the tremendous potential of blockchain and cryptocurrencies, this is only the beginning. Moreover, a collaboration between two industry heavyweights is a significant indicator that crypto is gaining mainstream recognition.

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Tokens.com will host Miami Fashion Week in the metaverse

Tokens.com, a publicly listed company that invests in web3 assets related to the metaverse and NFTs, will host the forthcoming Miami Fashion Week in the metaverse. Its subsidiary Metaverse Group will organise the event on its “Fashion Street Estate” virtual property.

Miami Fashion Week is scheduled to take place from May 31st to June 5th in the real world, while a digital L’Atelier will debut in Decentraland’s Luxury Fashion District, owned and built by Metaverse Group.

The virtual grand opening will occur between the 3rd and 5th of June, with a ribbon-cutting ceremony welcoming visitors to the L’Atelier. Miami Fashion Week will be the second event staged on the Fashion Estate this year, with other events throughout the rest of the year.

Andrew Kiguel, CEO of Tokens.com and Metaverse Group Executive Chair, mentioned that: 

“Our Fashion Estate has become a pillar in the virtual fashion community and a popular virtual destination to host Metaverse fashion events.” 

He further added: 

“We are bridging virtual and physical events to give people access to exclusive events. Metaverse Group continues to solidify its position as a trusted one-stop shop for all things Metaverse and continues to develop the space and expertly guide new clients into this new internet era.”

Meanwhile, Megan Kaspar of Red DAO and Miami Fashion Week advisor said: 

“Miami Fashion Week is the first global fashion week to bridge the physical-first fashion industry to digital-first Web3 designers and brands together through several Metaverse Group powered Metaverse experiences and activities congruent with the week’s events.” 

She further added:

“There is no better city than Miami to lead the digital-first fashion industry revolution. Major Suarez and his team have made impactful strides to cultivate Miami as the most technologically innovative city in the world. Miami Fashion Week contributes to the mayor’s initiative while paving the way to environmentally and socially sustainable practices for the fashion industry as a whole.” 

The Metaverse event of Miami Fashion Week will provide an immersive experience with fashion displays, catwalks, and avatar models and provide visitors with direct access to buy virtual products through the marketplace for fast and easy transactions.

In addition, there will be a revelation inside the L’Atelier where attendees may sign up for a whitelisting slot for ‘The Key’ NFT later this year. The Key is the Miami Fashion Week membership that unlocks many tangible and digital perks.

In addition, visitors will see fashion illustration NFTs by Barbara Hulanicki showcased and for sale on the L’Atelier’s walls.

On Sunday, June 5th, a sustainability panel with DRESSX will be live-streamed from the actual Miami Fashion Week site on the rooftop of L’Atelier, encouraging both physical and virtual participation.

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Ukraine to launch an NFT collection to raise funds

While the war-wracked Ukraine is still putting up a tough fight against Russia, the nation plans to use non-fungible tokens once again to gather funding for humanitarian needs.

According to the most recent announcement, the Zelenskiy NFT, a new digital art collection, will soon be presented to a large audience. The collection is the first NFT humanitarian effort established to benefit the Ukrainian people and the local landscape.

The IamUkraine studio initiated the concept to bring humanitarian relief to Ukraine via the use of creativity and digital art preserved through blockchain.

The Zelenskiy NFT collection was inspired by the Ukrainian people’s grit, unity, and spirit as the crisis unfolded. It consists of 10,000 distinct NFTs representing various facets of Zeleknskiy’s personality.

The project’s director Volodymyr Samoilenko mentioned: 

“We were very lucky to get support from the leading public persons and celebrities from sport, entertainment, and other areas. The Zelenskiy NFT collection will become a showpiece of the spirit of the Ukrainian people and the source of power and support. We see the vast amount of support as an extremely positive sign for us and the whole Ukrainian nation. We hope that their decisions become a reference point for thousands of other people from all over the world. Just imagine, what a significant positive impact we can put in action together!”

In the past as well the Ukrainian government relied on NFTs to assist in funding its military operations in the ongoing conflict with Russia.

Mykhailo Fedorov, who heads the nation’s Ministry of Digital Transformation, announced in March that the government had launched 54 NFTs to generate awareness and funds to fight against the Russian soldiers that had invaded the country.

Before the launch of the NFT campaign, the government also raised $50 million worth of cryptocurrencies and received contributions from a range of participants globally.

It is abundantly evident that blockchain technology has been of great assistance to war-torn Ukraine, and it may continue to be of use in the days and weeks to come.

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Toekenz launches first NFT marketplace with strict parental control

Toekenz Collectibles, a content and tech startup, is launching the first family-focused and child-safe NFT application, Invezz learned from a press release. It will become available in July, only by invitation.

The marketplace and platform will include blockchain-based communities, games, and digital collectibles focused on popular child and family brands.

The Toekenz app will feature a solid, unparalleled control set for parents, a marketplace for families to purchase and sell NFTs, the trademark Play-to-Collect gaming feature, and intuitive, child-friendly design.

There will also be another trademark feature – the so-called Learn-to-Earn curricula. Users of iOS and Android can download the app easily.

The robust controls will guarantee parents full monitoring and visibility. Toekenz Co-Founder and CEO Iris Ichishita commented:

Toekenz will change who has access to NFTs, lowering the barriers to entry for everyday families, making digital collectibles accessible, and equipping kids with new skills to navigate the metaverse as it evolves. I’m thrilled for my girls to build their first collections,” she said of her two children.

Neale Godfrey, Chairperson of the Children’s Financial Network and advisor to Toekenz Collectibles, added:

This is revolutionary. In addition to creating the world’s first NFT marketplace for kids, we’re also creating the world’s first intergenerational DAO! A place for kids to get involved with finance and democracy through NFTs.

Children and their parents can collect and win NFTs with high extrinsic value. The app manifests value derived from novel programs and online fan communities. Apart from valuable NFTs, Toekenz will give access to games with characters children are familiar with and like.

Susan Peia, licensing advisor to Toekenz Collectibles, stated:

We’re partnering with outstanding brands, which are hyper-relevant to families. Not only are we enabling kids to own a piece of what they love in a safe environment, but we’re enabling our license partners to build their first Web3 fan communities and engage their family audiences in truly meaningful ways.

Co-founder and Chairman of Toekenz Collectibles James Runnels is well aware of how critical safety is to parents. He assured Toekenz brought on Iris to create a high-quality, child-safe entryway into the metaverse.

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Dapper users gain access to RCRDSHP’s music NFT platform

The non-fungible tokens (NFTs) world is expanding daily with new partnerships and launches. This time, Dapper, a wallet for digital assets, and RCRDSHP, a marketplace for music NFTs, teamed up to provide Dapper wallet customers with convenient access to RCRDSHP’s music NFT platform.

The integration with Dapper seeks to enhance the accessibility of music NFTs by giving Dapper’s 2+ million active users access to the music NFTs on the RCRDSHP platform.

NFTs provide a novel method for musicians to market their compositions. RCRDSHP simplifies access between artists and fans to provide sustainable income for artists and affordable music collections for fans.

Obie Fernandez, founder and CEO of RCRDSHP, said, “RCRDSHP could not be happier to announce this collaboration with Dapper.” He further added:

“Dapper is second to none in terms of user-friendliness and functionality, and we anticipate new and existing RCRDSHP users will immediately benefit from this advancement. Music is valuable, but it is not being valued. Far too often, we’re seeing artists working multiple jobs to make ends meet, while fans miss even hearing the work of their favourite artists because there’s so much music released every day. We cannot wait to give millions of music fans a taste of a better, more valuable and compelling future.”

RCRDSHP will provide all customers who sign up for a Dapper wallet with a limited-time music NFT Dapper Lab: Starter Pack to honour the integration. The beginning pack covers various electronic music genres and is loaded with unique tracks that are not accessible elsewhere.

The first 20,000 Dapper Community members who buy the pack will get an extra $10 bonus usable on the platform. Furthermore, anyone who purchases the pack will receive an NFT that allows access to forthcoming monthly challenges and incentives.

The worldwide music industry earned $21.6 billion in revenue by 2020, marking the sixth consecutive year of growth, with a 7.45 CAGR rise from 2019.

However, it is incredibly difficult for artists to survive in the business and earn a livelihood via music. Artists are not appropriately paid for their talents and efforts.

This arrangement is often augmented by the record agreement and intricate legal documents that musicians must sign when signing with a record company.

Although about 80% of music income comes from streaming services, 90% of all streaming money goes to the top 1% of artists. Since musicians receive an average of less than one cent per stream on Spotify, just 13,400 artists make $50,000 or more annually.

With NFTs providing an extra unique opportunity for musicians to market their work, RCRDSHP improves access between artists and consumers to provide sustainable income for artists and inexpensive music souvenirs for fans.

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First-ever NFT social club opens up in Phoenix

NFTs are penetrating every sector as an increasing population uncovers multiple use cases. While sporting organisations use NFTs as loyalty tokens, hospitality businesses use them for priority reservations and bookings.

The most recent addition to this list is the launch of “Club FOMO” in Phoenix, Arizona. Club Fomo seeks to promote NFT artists by exhibiting their NFT collections.

These collections will include Bored Ape Yacht Club (BAYC), OnChainMonkey, and other highly sought-after NFTs held by the company’s founder, George Gebran, and his crew.

In addition, the club will hold monthly events where international and local VIPs, artists, influencers, the general public, and community members can buy and sell NFTs. In addition, the team intends to build a Virtual Club FOMO in the metaverse soon.

Robbi Firestone, a globally known physical and NFT artist and Creative Director of Club FOMO, designed the space.

Several prominent celebrities, including Cordell Broadus, Snoop Dog’s son, and others, attended the inaugural event.

NFTs have already seen many use cases outside the conventional NFT use, which is mostly the exchange of artworks and in-game resources.

Regarding the actual-world use of NFTs, the real estate market is one of the most NFT-ready industries. In real estate, NFTs can be used to streamline and accelerate transactions by allowing smart contracts for verification and transaction automation.

Additionally, NFTs can assist healthcare providers. Healthcare practitioners’ issuing NFT birth certificates to babies is one example.

NFTs can also have a significant impact on the music industry. Thanks to smart contract technology, musicians can assign the rights to their works to NFTs. Consequently, they instantly earn royalties when their music is played and can get fair compensation for their efforts.

Art NFTs are not only a craze among a subset of the population.

Rather, this new technology challenges established concepts of art and lower barriers for anyone who wants to create or acquire artwork.

To make these claims a reality, however, the industry must continue to welcome new participants, train artists and collectors on how to get started, and make the technology more user-friendly.

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MetaNept introduces its Nept Metaverse token

MetaNept, a technologically advanced metaverse for commerce and culture, has launched its native NEPT Token, which will serve as a means of access and the currency for its Nept Metaverse, Invezz learned from a press release.

The Nept Metaverse is an interactive 3D universe, in which you can monetize your experience of exploring hyper-realistic virtual worlds and communities.

MetaNept’s unique design and infrastructure allows entertainers, artists, and their respective teams to deliver virtual experiences that exceed fans’ expectations, positioning MetaNept as the go-to platform for virtual, multi-sensory entertainment.

MetaNept and Realiz3d will collaborate on visually complex landscapes and cities. The ethereal, unique avatars feature a detailed artistry that elevates the very notion of a metaverse, making MetaNept a far cry from the standard, cartoonish metaverses.

You can buy NFT avatars with the token, which begin as holograms within the Nept Metaverse. The base hologram obtains additional features as the metaverse expands.

Nept Metaverse participants can also mint additional NFT assets specific to their avatar and environments. All NEPT token and NFT holders can take part in the Nept DAO and become active in the governance of the Nept Metaverse.

You can use the NEPT Token to buy and sell assets within the metaverse marketplace and rent or buy land. Nept landholders can host concerts and monetize their assets through creating wearables, contests and giveaways, and staking within the Nept Metaverse.

By launching the NEPT Token, MetaNept creates an opportunity for holders to start growing their assets without wasting any time. MetaNept Founder and Director Jonathan Cohen said:

I’ve been living in the crypto sphere for the last eight years and have followed all the hyped metaverse and NFT projects very closely. I ran into endless projects offering only an NFT collection and a roadmap, and few that provided a long-term vision. I saw what was missing in the metaverse space: 3D assets available on launch, along with elegance and actionable deliverables, which MetaNept brings to the table.

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SneakMart partners with StockX for its 1st Metakicks sneaker NFTs drop

SneakMart, a French startup with a vision of tokenizing real-world sneakers on the blockchain, has secured a partnership with StockX for its first Metakicks sneaker NFTs drop. The partnership is another example of bringing together the physical and digital world.

There is also growing popularity for collectible sneaker NFTs which confirms that models by various brands hold significant appeal to the general public.

Sneakers are incredibly compatible with the NFT technology and NFTs have spawned the multi-billion dollar sneakers market where secondary market sales are essential. NFTs are also seen to be crucial in the future of Web 3.0 since they enable fashion to be represented in a digital form.

SneakMart acknowledges this fact and leveraged the power of its community-driven mobile app that is dedicated to streetwear. It also intends to add unique features while internationalizing the app and also introduce new limited collections as well as long-term benefits for the Metakicks NFTs owners.

The SneakMart team has created 15 unique 3D-animated sneaker designs that feature different shapes, materials, and colors as well as 3D animated backgrounds.

The 15 3D animated sneakers will be sold through Metakicks boxes and will come in Rare, Super Rare, Epic, and Legendary categories.

SneakMart aims at reaching the growing global audience of sneaker collectors and NFT enthusiasts using the Sneaker NFTs.

The Metakicks NFTs shall be usable in the future metaverse and they shall provide holders with access to new offers, physical sneakers, and derivative products among other offers.

The Metakicks mystery boxes also come with an opportunity for participants to win one of the 625 pairs of actual sneakers. The mystery box buyers have a 10% probability of winning a prominent physical sneaker that includes models such as Nike Dunk Low, Jordan 1 High, Adidas Yeezy 350, and two pairs of Jordan 1 Dior.

The first Metakicks drop will feature physical sneakers worth over $200,000 with winners being offered the opportunity of selecting their actual shoe size and StockX will do the international delivery.

International football players are taking part in the Metakicks drop with the likes of Didier Droga, Kinsley Coman, and Marco Verratti, being involved in creating unique 1-of-1 editions of personalized Metakicks.

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UAE’s Emirates Airline plans to start accepting bitcoin as payment soon

The race to make Dubai the crypto capital in the world has taken an interesting turn after United Arab Emirates’ Emirates Airline announced that it is planning to start accepting Bitcoin (BTC) as payment soon.

Emirates Airline chief operating officer (COO), Adel Ahmed l-Redha, confirmed the news of the airline embracing digital solutions including blockchain, crypto, and metaverse in a bid to connect with its customers faster and more flexible way. Besides the plans of adding Bitcoin as a mode of payment very soon, Emirates Airlines also plans to add non-fungible tokens (NFTs) collectibles on its official website.

Al Redha said:

“The plan of the airline’s embrace of bitcoin has just come into existence a few weeks after it revealed the NFT and metaverse launch, the goal of this launch is to ensure that the airline is “aligned with the UAE’s vision of the digital economy.”

The COO also hinted that the company is currently recruiting employees to assist the company in monitoring customer needs. He went ahead to explain the differences that exist between the metaverse and NFTs and said:

“NFTs and metaverse are two different applications and approaches. With the metaverse, you will be able to transform your whole processes-whether it is in operation, training, sales on the website, or complete experience- into a metaverse type application, but more importantly making it interactive.”

Although Emirates Airlines is yet to start accepting Bitcoin as payment, Al-Redha said that even though they are facing challenges in getting resources across the network, they are standing in a better position compared to other countries because of accessibility.

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Danny Trejo launches NFT collection, plays himself in new multiplayer survivor game

Gamepires, a leading game development studio, and Epik agency have joined forces to bring Hollywood actor Danny Trejo to the masses as a playable character inside SCUM, a new multiplayer open world survivor game, Invezz learned from a press release.

Danny Trejo’s first NFT collection, titled “The Many Faces of Danny Trejo,” will soon be available on the Epik Prime Marketplace. It tells the fascinating story of his life. The Los Angeles-born actor is among the most recognizable and has been featured in countless films.

Trejo commented:

I’ve been fortunate to work on some incredible projects throughout my career, but seeing myself in a badass game like ‘SCUM’ has got to be one of the highlights. Working with Epik and Gamepires has been an awesome collaboration. This partnership is an opportunity to engage with fans on a different level.

Tomislav Pongrac, Co-founder and Creative Director at Gamepires, said:

Introducing Danny Trejo as a playable character is the perfect addition to SCUM and the one-of-a-kind experience we’re delivering to gamers worldwide. Epik has been an incredible partner, opening doors to new opportunities that would otherwise be out of reach. We’re confident the new DLC will be a fan favorite and will help us further redefine the survival genre with new and unique experiences players will love.

In the new SCUM DLC, to be available soon, people can play Danny Trejo with multiple options, accessories and customization. This includes weapons, clothes, behavior, and other elements, all inspired by his unique roles and characters. Trejo voices the in-game avatar, which is modeled after his appearance in the 1990s.

Victor David, CEO at Epik, added:

Gamepires has reimagined the survival genre with SCUM, and no one better reflects the look, feel and excitement of the game than the iconic Danny Trejo. We’re confident SCUM gamers and Trejo fans will enjoy this one-of-kind collaboration as much as we have. Danny brings his passion and enthusiasm as an actor to all of his art, from his in-game avatar to his new collection of NFTs. Be on the lookout for more exciting new collaborations coming soon!

Brands can join Epik’s licensing network to grow their reach and gain granular insights that were previously impossible. The network offers a low-risk, high-rewards opportunity to explore the NFT space.

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Interview: Ukraine’s NFT Museum of War

Every so often, you get an interview opportunity that really makes you stop and think. This was one of those cases – a Q&A with the Ukrainian Ministry of Digital Transformation, Virtual Assets Office.

The subject to be discussed was the unique Museum of War, powered by NFTs. The collection was launched in March to “preserve the statehood and history of Ukraine”. Alex Bornayakov, the Deputy Minister of Digital Transformation of Ukraine, asserted as part of the launch that “rebuilding the country requires modern solutions”.

Today IT, blockchain and NFT are the tools that work to preserve the statehood and history of Ukraine. With the support of our partners we’ve launched the NFT-museum @Meta_History_UA. Rebuilding the country requires modern solutions. Check here ?? https://t.co/6iCMdBvIyw

In browsing the NFT gallery, then one that stood out to me was the Warline, a sombre timeline of the war, with each event accompanied by a corresponding NFT drawn by a Ukrainian artist, and including a tweet of that event. The first NFT from Day 1, for example, is the below – containing a tweet from BBC news confirming Russia had invaded.

The timeline chronicles the full events of the war, stamped on the blockchain forever. Jumping forward to Day 3, for example, the below NFT (Day 3, 00:39) took my notice. A glimmer of hope amongst the tragedy. The Museum also displays the potential power of the industry – despite the majority of NFTs being frivolous pursuits such as cartoon monkeys, pixelated avatars and what not, there can be a real impact made in the space too, such as this collection.

In addition to this project, Ukraine’s MetaHistory of WAR (a joint project with the ministry of digital transformation) is releasing a “Hall of Fame” section at the museum to show their gratitude and respect for public figures that stood alongside Ukraine when it needed it the most.

The first public figure, Elon Musk, was released on April 29th. A figure revered in the crypto space, of course, Musk appears in this collection as a result of him helping Ukraine to gain internet connectivity via Starlink. It serves as a further reminder of the scale and potential in the NFT space here.

As moved as we were by this novel collection, we interviewed the Ministry of Digital Transformation to get more background on the Museum, their thoughts on the crypto community, and any plans for further releases.  

Invezz.com (IZ): What’s the main goal of the museum, and what will the display be like?

VK, Head of Museum of War Project (VK): The most important goal of our mission is Historiography. Fix the truth of what is happening on this unfairly terrible war in the annals of the blockchain by illustrating events through the feelings of each artist.

IZ: Are you funded and/or supported by any specific organizations/individuals? If yes, what kind of role do they play?

VK: The only support we have is donations.

IZ: What are you doing to stop and/or filter the spread of misinformation, which has been at the centre of the current conflict, and ensure verification of only true information?

VK: The goal and mission of our project is to fix the truth of the fakes as they are, not allowing propaganda to deform the face of truth

IZ: Do you see fundraising avenues such as these becoming more popular during future crises?

VK: For me, as the author of the idea and CEO, this project is the hope that in the event of such crises, such a model will be able to consolidate the support of the world in the event of such an event.

IZ: Do you have plans to release more collections?

VK: Absolutely. Warline and his historiographic mission will live until the moment of Victory, but at the same time, I conceived the auction side of the project specifically for the accession of other authors and collections, but at the same time for the freedom to implement other collaborations and ideas that are already being developed by me in alliance with artists from all over the world

IZ: How have you found your interactions to date, surrounding this project, with the crypto community?

VK: I would say that my communication with collectors, well-known personalities in crypto art, and owners of exchanges and platforms suggests that they highly appreciate the idea and mission laid down in the heart of the project. But, at the same time, I feel a deep lack of virality in the crypto community in order to maximize the number of people could get to know us and support us. As if this happened, we would have a bigger team to implement my plan – namely to set a world record in charity NFT and open the first NFT museum in Ukraine. I’m working on it.

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What does OpenSea integration with Solana mean? Interview with MonkeyLeague

The NFT space has been moving at the speed of light recently, but to date almost all the big headlines and projects have been Ethereum-based.

However, that may now be about to change. OpenSea has now integrated a number of Solana projects on its marketplace as part of a beta test, while several high-profile Solana projects have begun to get serious hype – perhaps no more so than Okay Bears, which has a 93 SOL floor at time of writing ($8,000).

The Ethereum vs Solana debate took centre stage over the weekend, of course, as the much-publicised Otherside metaverse land mint by Yuga Labs, the creator of Bored Ape Yacht Club, clogged up Ethereum and caused gas fees to rocket into the four figures. Solana, for its part, went down shortly after. Yuga Labs then asserted that they would need to launch their own chain to continue to scale, in a statement on Twitter that was met with a lot of derision from enthusiasts, who claim they simply planned the drop poorly and failed to optimise the contract.

We're sorry for turning off the lights on Ethereum for a while. It seems abundantly clear that ApeCoin will need to migrate to its own chain in order to properly scale. We'd like to encourage the DAO to start thinking in this direction.

Amongst all this debate and change, we got the opportunity to interview MonkeyLeague Head of Marketing, Oren Langberg. MonkeyLeague is an NFT gaming project on Solana, who were chosen as one of the Solana projects to be part of the OpenSea beta test.

Invezz (IZ): Firstly, can you give a little background on MonkeyLeague, to those who may be uninitiated with the project?

Oren Langberg, Head of Marketing at MonkeyLeague: MonkeyLeague is the first game release of UnCaged, a studio pioneering the next era of high production value, play-first Web3 games with sustainable economies.  Backed by an expert team with tons of experience in both Web3 and gaming, MonkeyLeague combines high-production-value, multiplayer gaming with Solana blockchain, NFTs, and decentralized finance to deliver a fast, turn-based, play-and-earn soccer game that’s easy to learn yet hard to master.

At the intersection of FIFA Street and Chess, players build their ultimate teams of 4 Monkey NFT players, which they own, that fill the positions of Striker, Midfielder, Defender, and Goalie.  Monkey NFTs are born with 32 total traits, including Appearance, Game Skills, and Game Perks. Each Monkey has a starting stat level for each Game Skill – Accuracy, Control, Defense, and Passing – and a max potential they can reach.  Skill stats are improved through scoring goals, daily missions, and winning matches.

Matches go for 10-12 rounds with each team getting a couple turns in each round.  In a turn, a player can dribble to another quadrant, pass to a teammate, shoot the ball, steal, tackle and more.  For most actions taken, the opposing team challenges that move.  For example, if the Striker takes a Power Shot on goal, its Skill levels are put up against the Goalie’s Skill levels. 

Monkey NFT players can’t be played endlessly. Just like in real life they get tired and injured.  Taking care of your players with Nutritional items to boost their Stamina and MedCare items to boost their Health Points will be key.

MonkeyLeague is centered around league play.  Meaning, players are grouped into differently levelled leagues with other players of the same skill range.  Score goals, win matches, and league up to climb the ranks and earn higher status and more rewards!

Invezz (IZ): What separates MonkeyLeague from other esports NFT games?

OL: The team behind MonkeyLeague is unparalleled in Web3.  Our game studio is one of the few that has everything in-house and one of less that have a seasoned team in both Web3 and in gaming. With over 100 years of combined experience designing and developing high production value games with sustainable economies, MonkeyLeague is creating immersive gaming experiences that will last a lifetime.  The near AAA quality production value is unmatched in the current Web3 gaming space and MonkeyLeague is revolutionizing a realignment of focus to emphasize a play-first gaming experience on Web3 rather than a play-to-earn or play-to-win. 

We are on a mission to make Web3 gaming adopted by the masses. In part that comes from the production value and level of entertainment we will deliver. But it also comes from creating a game ecosystem that appeals to the masses and a wide range of players – from hardcore to casual. In MonkeyLeague, there will be multiple ways for players to engage and earn. Players will be able to earn Actively by completing missions and winning matches and Passively by being a Spectator and rooting for the winning team, or owning a Stadium and hosting matches, tournaments, or even events!

IZ: Getting selected as part of the OpenSea Solana beta is really exciting. Do you know why MonkeyLeague was chosen, and how many other projects are part of the beta?

OL: It is extremely exciting! We were super humbled, and at the same time not surprised, that we were selected. There is no question MonkeyLeague Gen Zero NFTs are one of the most popular NFTs on Solana.  Our initial NFT drops had nearly 100k participants with thousands selling out in seconds. Our NFTs not only have extreme collectible visual value but tremendous utility value as well.  Not sure on the exact number but it was a handful.

IZ: OpenSea listing Solana NFT collections is obviously big news, but how do you think this will affect Solana going forward?

OL: Solana is doing great work all around in creating a robust ecosystem, especially for gaming and NFTs. Onboarding OpenSea, the largest NFT marketplace on the planet, is a huge step into expanding the audience and users of Solana.

IZ: What are your thoughts on Solana as a whole regarding NFTs – how do you think it compares to Ethereum, and why did you choose it for your project?

OL: Not only is Solana doing awesome work and creating a stacked ecosystem but moreover, their blockchain is fast and gas fees are near non-existent, which all makes it very attractive and friendly for gaming studios like ours. We love and work closely with the Solana team and look forward to what’s to come.

IZ: How do you think the OpenSea integration with Solana will affect Solana-only NFT marketplaces, such as Magic Eden and Solanart? Do you think these could lose a lot of volume, or even become obsolete, if/when OpenSea fully embraces Solana?

OL: I am sure it takes away some while also bringing new audiences into Solana and hence Magic Eden as well eventually.  Also, a certain level of competition is healthy for the ecosystem and a natural step forward. Magic Eden is a great partner of MonkeyLeague and we know the team well. They are constantly innovating and putting the community first.

IZ: Do the much-publicised outages on Solana give you cause for concern?

OL: Not at all. We know Solana’s capabilities and issues can happen. What’s important is they are super proactive in solving them and improving. 

IZ: I’ve never bought a Monkey before – but if I do, where do you recommend I should go? OpenSea or one of the Solana platforms? 

OL: The most important is to do your research.  Remember, there are 32 traits including Appearance, Game Skills, and Game Perks. If the visual Appearance and rarity is most important to you then look for a Monkey that, first and foremost, you connect with visually but also has a higher Alpha score. 

Alpha score represents the probability that a Monkey with all of that Monkey’s traits would be generated from the total population. So, the higher the Alpha score the more unique that Monkey is. If you’re in it for the game, then look for an above average Alpha score but more importantly high Max Potential Game Skill stats. These give you an indication of what level you can achieve through improving your Monkey in the game.

Lastly, compare Game Perks percentages.  Game Perks are action boosters in the game (i.e. extra boost on a pass or shot on goal). To form your team and build your dynasty, recruit Monkeys that will fill each of the positions on the field.

IZ: I enjoy Solana myself and have got involved with some other collections – most notably SOLPunks, who have a really warm community. How is the MonkeyLeague community?

OL: Wow, the MonkeyLeague community is the blood that keeps everything pumping! We have a massive and extremely passionate community.  From day one, we set forth to be a community-first “project”. In an industry shrouded in mistrust, malicious acts, and a lack of transparency it has always been a core principle of ours to be super communicative, open, transparent and to speak to our community at the same eye level. In the end, we are all in this together and have the same vision and goals.

IZ: What are your future goals for MonkeyLeague?

OL: Although we have accomplished so much in such a short amount of time, this is only the beginning for MonkeyLeague and our studio, UnCaged. In the immediate future and shortly after the Player vs Environment game mode launches, multiplayer, Player vs Player, will launch with leagues starting to form and expand and tournaments becoming a big element.  

Our long-term goals are that MonkeyLeague sets a new standard for Web3 gaming and constantly pushes the boundaries over what’s possible.  Our mission is to create AAA quality Web3 games with sustainable economies and mass adoption that last a lifetime – gaming experiences that allow for a wide range of players and player types can engage and have fun! 

MonkeyLeague is just the first esports franchise for UnCaged with much more to come!

IZ: How do you think NFTs, and MonkeyLeague specifically, will fare in a prolonged bear market? Do you think there could be flight to quality, with risk-on assets all seeing enormous drops across the space, including NFTs?

OL: I think if there will be a prolonged bear market, that it will just speed up a natural process of the industry as a whole, evolving to where there is a “survival of the fittest” effect.  Gone are the days where anyone can create an NFT and create a sustainable collection or project, or where a couple people in their mom’s garage can create a low-quality game, just to cash in on a play-to-earn and NFT waves.

NFTs will need real creator and utility value and games will need to check some boxes. The industry will evolve to become more mature, and our studio is pioneering super high quality, play-first Web3 games, with MonkeyLeague at the forefront. NFTs and Web3 gaming isn’t going anywhere. 

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NFT derivatives – the new frontier? Interview with Smart Token Labs co-founder & CEO

Talk to someone unfamiliar with NFTs, and one of the first things they will protest is that they don’t really do anything. Indeed, even amongst enthusiasts, the focus has been driven more and more towards utility, as NFTs around the market have seen prices and volume dipping in recent times.

NFTs are art, yes, but that’s only the beginning. The most successful projects excel because they build a community, with the NFTs essentially membership cards to enter these exclusive clubs. Think of Bored Ape Yacht Clubs, where an Ape grants you exclusive access to merchandise, meet-ups, and even boat parties in Miami.

Smart Token Labs is striving to create an avenue to generate more utility from NFTs. Their method is quite inventive – creating verifiable on-chain NFT derivatives to NFT holders that maintain the IP rights of the original project. In fact, they provided us an exclusive look at their new derivatives website, which can be seen here.

It’s quite a slick mechanism and opens up avenues for collaboration with other brands, increased recoupment of royalties, and a whole host of other revenue and utility-driving actions for NFT owners. Naturally, we had a few questions, so we caught up with Victor Zhang, co-founder and CEO of Smart Token Labs.

Invezz (IZ): Can you give an example of some of the NFT derivatives that could be created?

Victor Zhang (VZ): NFTs are a way to digitally record the ownership of certain non-fungible rights. NFT derivatives are a way to make derivatives of non-fungible rights. 

One example of NFT derivatives that could be created are profile photo NFTs (NFTs representing the ownership of IPs). IP owners (NFT holders) can issue derivative NFTs to represent the licensing of using this IP in certain ways. With Nifty Tailor, BAYC holders can use their BAYC to mint derivative NFTs (Apes with different outfits) which are based on their Apes. They can mint derivative NFTs to represent the right to use the IP on a t-shirt, a coffee shop, etc, to represent the right to do an “official” re-creation.

Another example is DeFi NFTs (NFTs representing the ownership of a finance asset). Finance asset owners (NFT holders) can issue derivative NFTs to represent part of the current or future value of the finance asset. Uniswap V3 Position NFTs represent the ownership of the rights to modify and redeem the position. They can issue one derivative NFT to represent the ownership of the right to redeem, another to represent the ownership of the right to modify, another to represent the right to redeem half, or another to represent the right to certain modifications to have better liquidity and control. 

There are also examples that extend to more real-world related NFTs (NFTs representing the ownership of rights in the real word). For example, a car ownership token, which uses an NFT to represent the ownership of a physical car. The Car owner (NFT holder) can issue derivative NFTs to represent the ownership of the right to use the physical car at a certain time period, and can issue derivative NFTs to represent the ownership of the right to receive rental income.

IZ: These derivatives will be possible only for collections that maintain the IP rights of the original project. What do you think of projects that don’t grant full IP rights to purchasers?

VZ: For IP-related NFTs, if a token holder wants to issue IP-related derivatives, they need to either own the IP or have the licensing. But they can still produce derivatives based on the rights they own, like the collectible rights. Collectible rights can issue derivatives to represent the ownership of the right to use the NFT as profile photo and sell the derivatives to others. Beyond collectible rights, it also represents the ownership of the right to redeem a t-shirt, then the NFT holder can issue derivatives to represent this right and sell separately. Projects can issue derivatives instead of NFT holders. As long as buyers fully understand what they are buying, it is totally fine. The buyer needs to understand what kind of ownership they are buying, the ownership of what rights.

IZ: A lot of projects – including the latest highly-hyped project, Moonbirds – are looking towards staking initiatives (“nesting” in the case of Moonbirds) to generate income for holders. What do you think of this initiative?

VZ: The key thing is where the income is coming from. If it is just the money from token buyers being redistributed to NFT holders, this is totally fine in a positive cycle where more people are buying the token and the price is increasing in value leading to more buyers. In a negative cycle, however, it will not work. A simpler way to think about it is NFTs have one more right that is earning an income from another source. By the way, you can issue fungible tokens as derivatives from NFTs as tokens to represent the staking income.

IZ: Are you interested in any other initiatives beyond staking (as well as launching derivatives, obviously) that generate income for NFT holders?

VZ: It is all about how to use the ownership of the rights that the NFTs are representing. If it is IP, then the question is how to use the IP to generate income. If it is a finance asset, then the question is how to use the finance asset to generate income. If it is a car, then the question is how to use the car to generate income.

IZ: Do you think on-chain derivatives could increase the average hold period for blue-chip NFTs? Do you foresee any other implications?

VZ: Yes, especially if the derivatives require the holder to lock/wrap the original NFT to prevent double spending the rights. An example of this would be if I issue a derivative to represent the exclusive rights of using my BAYC on a t-shirt. Once it is issued, that right needs to be removed from the original NFT, and the original NFT needs to be locked or wrapped. Additionally, two new NFTs will need to be minted – one for the exclusive rights for the t-shirt and one for the balance rights. NFT derivatives are like DeFi nesting dolls.

IZ: There will likely only be enough liquidity and demand to launch NFT derivatives for the big projects. Do you think this will increase the concentration of wealth at the top of the NFT market?

VZ: No, the current NFT market is very much an IP type of NFT, which only brings success to the biggest or most notable projects. It is not a problem, it is simply how it works. Later there will be all kinds of other NFTs, so it’s not a problem at all.

IZ: What do you think of the concentration of wealth within NFTs as a whole, and the cryptocurrency industry at large?

VZ: The current use cases are tiny compared with what crypto tech can really enable. There’s nothing to be worried about.

IZ: Do Smart Token Labs have any competitors with regards to the launch of NFT derivatives?

VZ: We haven’t seen any competitors that are specifically building a new internet standard for tokenization.

IZ: Do you foresee a launch just for the blue-chip Ethereum projects, or will you be looking at Solana too?

VZ: We’re currently focused on EVM based networks, so no plans for Solana at this point.

IZ: How do you see the integration of OpenSea with Solana affecting the NFT market? Do you think this will have any impact on Ethereum’s dominance within the NFT space, and do you foresee a multi-chain future for NFTs or will it always be ETH ruling the roost?

VZ: In the medium term, I see a multi-chain future for NFTs the same as DeFi. In the long term, I believe the multi-chain future of NFTs will depend on sharing the security with Ethereum mainnet and having interoperability with each other. (Ethereum mainnet + rollups, side chains, shards, etc.). Without shared security, cross-chain is ‘useless’.

IZ: How do you think NFTs will fare in a prolonged bear market, and do you think NFT derivatives will have any impact on this?

VZ: It will have a better performance than DeFi tokens, as they are more than finance. The share price may reduce, but the IP of Marvel may not be affected.

IZ: You are working on some other intriguing projects, such as tokenizing car ownership. What does the future look like for Smart Token Labs as a whole, and how big a focus are NFTs?

VZ: We have two open-source projects, TokenScript and AlphaWallet. TokenScript aims to become a new internet standard, and the standard of a token-centric framework. In this Web3 future, tokens will be as ubiquitous as web pages, and tokens will become primary objects of ownership, identity and interaction. AlphaWallet is the largest open-source EVM mobile wallet in terms of fork numbers, and is the only self-custodial wallet that’s 100% open-source.

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