This week’s newsletter highlights plans in which Yahoo is involved Non-Fungible Tokens (NFTs) and metaverse-based items. Also, watch maker TAG Heuer is dabbling in NFTs, and the number of digital collectible platforms in China is increasing despite government warnings.
On the positive side, the CryptoPunk donated to the Ukrainian aid organization sold for over $100,000. And don’t forget this week’s Nifty News roundup, which includes new brand leadership for CryptoPunks and a phishing attack on a Solana-based project.
Yahoo is launching a metaverse campaign for restricted Hong Kong residents
Online media 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 virtual worlds in Asian countries.
Yahoo Hong Kong executive Lorraine Cheung said Hong Kong residents see events in the Metaverse as a good option for social interaction, as pandemic restrictions remain so strict that people must show a negative COVID-19 test before entering a bar or restaurant.
Yahoo will also collaborate with local artists to launch an NFT exhibition called “Kwun Tong Abyss”.
Swiss luxury watchmaker TAG Heuer launches NFT-enabled smartwatch
Luxury watch maker TAG Heuer has partnered with key NFT community members to create smartwatches that can display NFTs. The watch will allow users to connect crypto wallets like MetaMask and Ledger Live to choose which NFTs are displayed on the smartwatch screen.
The watch owner can also resize the image accordingly to fit the display and connect to the blockchain to verify NFT ownership and display the hexagonal version of the artwork. The company also said that in addition to supporting pictures, it will also support GIFs and infinite loop animations.
China’s NFT platforms 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 grown to more than 500, five times the number in February. Local reports in China attribute this growth to the domestic hype surrounding NFTs. Tech giants such as Tencent and Alibaba have also shown interest in the NFT space and have recently applied for their own trademark patents.
Ukraine sells CryptoPunk NFT for 90 ETH, donations worth over $100,000
CryptoPunk #5364 is an NFT donated to support aid in Ukraine, priced at 90 ETH (Ethereum), valued at $102,640 at the time of sale. The sale of CryptoPunk was announced on Monday by Alex Bornyakov, Ukraine’s Deputy Minister of Digital Transformation. The price of the NFT increased from its initial value of 16.19 ETH or $31,722, which was the value when the donor acquired it.
Good News: Christie’s NFT Expert Leads CryptoPunks, Fake Heir Launches NFT Collection
NFT expert Noah Davis has announced that he is leaving his post at UK auction house Christie’s. Davis noted in a tweet that he will be joining Yuga Labs as the brand lead for the CryptoPunks project. Meanwhile, Duppies, a Solana-based NFT project, was the target of phishing scams. Users reported losses online, one user claimed a loss of 650 Solworth $18,850 at the time of the attack.
Thank you for reading this week’s roundup of the most notable developments in the NFT space. Check back next Wednesday for more reports and insights on this actively developing area.