Interesting News: Meghan and Harry creating a metaverse, celebrities lose a lot on BAYC, and more.
Celebrities are suffering severe losses on their Bored Apes purchased at the height of the NFT, but well-known brands like Sony and Adidas are expanding their presence in the market.
Many celebrities, including musician Justin Bieber, invested in the Ethereum-based non-fungible token (NFT) collection as a result of the hoopla surrounding the Bored Ape Yacht Club (BAYC) over the past year.
On January 29, Bieber paid 500 ETH for BAYC #3001, which at the time was worth over $1.28 million. In contrast, the current top bid on the NFT cracks is just over $69,500.
The floor price for the collection has significantly decreased since it peaked at 144.9 ETH on May 1 of this year, which at the time was valued approximately $396,760, to a current low of 48 ETH, which is currently worth $58,589, according to data from NFT Price Floor.
The Yuga Labs made NFTs became a “blue chip” collection, and many other celebrities rode the hype wave, including businessman Gary Vee, who still has a number of Bored Apes in his 2,400-strong NFT collection, and TV host Jimmy Fallon, who purchased BAYC #599 for $224,191 on November 8 and has a current top offer of $70,264.
Even then, BAYC #8633 was purchased from digital art collector Pransky on November 17 for around $747,500, demonstrating that there is still a significant market for Bored Apes with unique characteristics.
The Sussexes are in discussions over a “virtual universe”
According to a November 15 Mirror report, Prince Harry and Meghan Markle are “in advanced talks” with pax.world, a website that enables users to build their own metaverse.
According to sources, Markle is the idea’s main proponent. The metaverse has thus been cleverly dubbed the “Meg-averse.”
The rumored metaverse is seen as a way “to take their brand fully global” by the formerly active royals, who are reportedly searching for new ways to connect with their followers.
The metaverse, according to pax.world founder Frank Fitzgerald, is ideal for the couple’s target market of “progressive, tech-savvy” individuals as they expand their brand. He added that the platform is providing the couple with “a plot of prime pax.world land.”
Adidas Originals releases a line of “virtual gear”
On November 16, Adidas unveiled the Genesis collection, an Ethereum-based NFT line that includes wearables made for virtual avatars.
The 16-piece collection will allow users who own a wearable Adidas NFT and a participating partner’s NFT to “dress up” that NFT with their Adidas virtual wearable, expanding on Adidas’ partnerships with BAYC, Mutant Ape Yacht Club, and Inhabitants.
Owners of the May-released Adidas Originals: Capsule NFT Collection will be able to burn their current NFT and exchange it for a random NFT from the new line.
Nic Galway, senior vice president of creative direction for Adidas Originals, commented on the collection and stated Web3 adds a “degree of utility that can be explored and even found as worlds and avatars assume new forms” and offers new chances for its designers and collaborators.
NFT gaming patent from Sony
Sony has indicated its intention to incorporate blockchain technology into its games in a patent that was submitted in May 2021 and made public on Nov. 10.
The company intends to track in-game assets using NFTs and blockchain technology, and the patent includes a number of diagrams illustrating how it will do this.
An illustration of how Sony envisions its tracking system operating. Picture: WIPO
The entertainment behemoth may be interested in entering the expanding NFT gaming market, even though the filing is only a patent at this time.
After collaborating with Theta Labs in May to introduce a variety of 3D NFTs viewable on its Spatial Reality Display and enabling the visualization of 3D models, Sony has already dipped its toe into the NFT space.