Adidas Takes a Risky Bet on NFTs with High-Profile Web3 Collaboration
Adidas made a unique move in the NFT space by collaborating with Web3-native brands and personalities, including the Bored Ape Yacht Club NFT project, Punks Comic, and NFT influencer gmoney. Despite the risk involved in partnering with pseudonymous creators in a nascent space, Adidas believed in the values behind the collaboration and educated its corporate leadership on Web3. The Into the Metaverse campaign was a success, selling out its primary NFT drop and raising $23 million, and Adidas has continued to build in Web3 with the recent launch of ALTS. Adidas' long history of highlighting emerging cultures and creators made this collaboration a natural fit.
Bitcoin Frogs Overtake Bored Apes as Most Traded NFT Collection in 24 Hours
Bitcoin Frogs have overtaken Bored Apes as the most traded non-fungible token collection in the past 24 hours, marking a significant milestone for the Ordinals market. The collection has generated over $2 million in trading from almost 700 transactions, while the Bored Ape Yacht Club, the most valuable NFT collection in the world, ranked third with around $1.3 million in volume. According to CryptoSlam! data, Bitcoin Frogs NFTs have registered $5.9 million in trading so far this month, compared to $52,000 in April. Crypto Twitter has reacted quickly to this historic milestone, with many acknowledging the potential of Bitcoin Frogs.
China's Top Prosecution Agency Warns NFT Users of Possible Economic Exploitation via Price Manipulation
China's Supreme People's Procuratorate has issued a warning to NFT users about the potential for economic exploitation through price manipulation. The Chinese government has been promoting the adoption of digital currency, with the digital yuan expected to improve liquidity in the Asian cryptocurrency market. However, the Supreme People's Procuratorate has called for proper regulation of the NFT market to ensure safe innovation and investor protection. The agency has urged NFT creators to report all financial activity in accordance with the law to prevent NFT-related crimes. As the NFT market expands, countries worldwide are working on formulating related tax frameworks.
Renault Drops Racing Shoe5 NFT Collection with Limited-Edition Sneakers and Exclusive Perks for Enthusiasts
Renault, the renowned French automaker, has launched a new NFT collection called Racing Shoe5, which pays homage to the popular Renault 5 Turbo model from the 1980s. The collection comprises 960 limited-edition 3D art NFTs, each accompanied by a pair of eco-friendly sneakers. The collection also includes an immersive 3D shopping experience and offers exclusive perks and utilities for Renault enthusiasts and collectors. By embracing Web3 and blockchain technology, Renault is demonstrating its commitment to innovation and sustainability. The Racing Shoe5 collection is a testament to Renault's dedication to keeping iconic cars like the R5 Turbo alive on the streets.
VeeCon 2023: NFT Projects, Web3 Art, and Thought Leaders Gather in Indianapolis
VeeCon, the annual super-conference exclusively for VeeFriends community members, is set to take place in Indianapolis, Indiana from May 18-20, 2023. While VeeFriends holders have access to the event, non-holders can purchase tickets through Opensea. The conference boasts a lineup of 190 speakers from various sectors, including NFT and Web3 thought leaders, accomplished entrepreneurs, and influential social media personalities. Attendees can also enjoy unique attractions such as a VeeFriends Museum, a Garage Sale featuring collectibles, and an art gallery showcasing Web3 community artists. The event will feature 13 innovative NFT projects, 25 Web3 artists, and partners such as Anheuser-Busch, Bose, and Visa. Attendees must register their tickets before the conference and can find the full schedule on the Veecon website.
Yuga Labs HV-MTL NFT Collection Reveal Leaves Community Divided
Yuga Labs has finally unveiled its highly anticipated HV-MTL (Heavy Metal) Evo1 NFTs after a short delay. However, many members of the NFT community have expressed disappointment with the project, criticizing it for being low-effort and lacking originality. Despite this, the HV-MTL NFTs will play a crucial role in Yuga Labs' upcoming gamified odyssey and will be required for its HV-MTL: Forge activation, making them an important addition to any collector's portfolio.
Kenny Schachter Challenges Opposing Art Factions in NFT Game Battle
Renowned artist Kenny Schachter has announced the launch of Pop Principle, a forthcoming NFT art game in collaboration with digital art hub Daata. The game merges traditional and digital artists in a playful competition beginning on May 18, challenging the existence between conventional art and artistic creations created on the blockchain. Pop Principle features eight limited-edition digital assets, with notable figures from the classic art milieu on one side and digital art pioneers on the other.
ERC-6551 Token-Bound Accounts: Advancing NFTs and DeFi Security
The ERC-6551 is a new development in the world of Non-Fungible Tokens (NFTs) that aims to improve the traceability of ERC-721 tokens. It creates a smart contract wallet for each non-fungible token, making it more dynamic and interactive. The token-bound accounts provide enhanced security, simplified user experience, transaction efficiency, and innovative use cases within the DeFi ecosystem. They enable secure and efficient decentralized exchanges, introduce enhanced security measures in lending and borrowing platforms, and enable the novel possibility of an NFT possessing a wallet and its associated assets. The integration of ERC-6551 token-bound accounts in lending and borrowing platforms provides improved security measures, ensuring the protection of users' assets throughout the process.
Avenged Sevenfold's M. Shadows Takes a Strong Stance in Favor of Crypto and NFTs in Gaming
Matt Sanders, lead vocalist of Avenged Sevenfold and creator of the band's 2014 PC game "Hail to the King: Deathbat," recently shared his thoughts on crypto and NFTs in video games on Decrypt's gm podcast. Sanders, who bought Bitcoin, Ethereum, and Litecoin in 2016, believes that NFTs and crypto can add value to video games by making high-value items easily sellable and transferable. However, he emphasized that a great game must come first and that terms like "Web3 gaming" can create confusion and branding issues. Sanders also criticized the mainstream media's negative portrayal of crypto and argued that there needs to be more use cases to demonstrate its potential benefits.
HeyMint and Zeneca Collaborate to Enhance Onboarding and NFT Creation Experience on Beginner Platform
HeyMint, a beginner NFT platform, has partnered with Zeneca, a renowned thought leader, to co-brand the HeyMint Launchpad with Curious Addys. This partnership aims to enhance the onboarding process for NFT beginners and provide a seamless NFT creation experience. The HeyMint Launchpad supports both ERC-721 and ERC-1155 standards and offers various features such as PFP NFT Art generator, smart contract generator, and credit card payments. To celebrate the partnership, a special commemorative NFT has been released, which can be minted for free until May 30.
