Celebrities are facing huge losses from BAYC NFTs
The hype behind Bored Ape Yacht Club (BAYC) over the past year has led many celebrities to invest in the Ethereum-based non-fungible token (NFT) pool, with many like singer Justin Bieber paying top dollar.
Bieber paid 500 Ether (ETH) for BAYC #3001 on January 29, which at the time was worth about $1.28 million, while the current top bid on NFT slots is just over $69,500.
According to data from NFT Price Floor, the base price of the block has fallen significantly since it peaked at 144.9 ETH on May 1 of this year, which at the time was around $396,760, to a current low of 48 ETH, worth $58,589 at the time. Writing.
Several other celebrities have also ridden the hype wave that Yuga Labs has made NFTs a “blue” group, such as entrepreneur Gary V., who still has a few bored monkeys in his 2,400-strong NFT collection, and TV host Jimmy Fallon, who bought BAYC #599 for $224,191 on November 8, which has a current highest bid of $70,264.
It’s not all bad news for bored monkeys, though, when BAYC #8633 was purchased from digital art collector Pransky for approximately $747,500 on November 17, showing that there is still great demand for bored monkeys with some rare traits.
The Sussexes in talks for a ‘virtual world’
Prince Harry and Meghan Markle are “in advanced talks” with pax.world — a platform that allows users to create their own metaverse, according to an article published Nov. 15.
Sources claim that Markle is the driving force behind the plan. As a result, the metaverse was cleverly dubbed “Meg-averse”.
The former royals are believed to be looking for new ways to connect with their fans, seeing the alleged metaverse as a way to “take their brand completely global”.
According to pax.world founder Frank Fitzgerald, the metaverse is perfect for the “progressive and tech-savvy” audience the couple is looking to connect with as they build their brand, saying the platform offers the couple “a piece of prime .world land.”
adidas Originals Unveils ‘Virtual Gear’ Collection
Adidas released an Ethereum-based NFT called the Genesis Collection on November 16, featuring a collection of wearables designed to be worn by virtual avatars.
Calling the new product Virtual Gear, the sportswear giant has labeled the collection an “interoperable new product category,” adding:
“[It] accelerates our collective drive towards strengthening web3 and adidas’ commitment to community-based, members-first, and open metaverse”
Building on Adidas’ partnership with BAYC, Mutant Ape Yacht Club, and Inhabitants, the 16-piece set will also allow users who own an Adidas wearable NFT and a participating partner NFT to “wear” the NFT with a virtual Adidas wearable.
Owners of the Adidas Originals: Capsule NFT Collection, which launched in May, will be able to burn their NFT capsule and exchange it for a random NFT from the new collection.
Commenting on the collection, Adidas Originals Senior Vice President of Creative Direction Nic Galway said Web3 brings new opportunities to its designers and collaborators, and adds “a level of utility that can be explored and discovered when worlds and avatars take on new forms.”
Sony patented NFT games
In a patent filed in May 2021 and made public on November 10, Sony revealed its intention to incorporate 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 diagrams showing how to do so.