In this week’s newsletter, read about how the FTX infection led to the sale of a pool of high-ticket non-fungible tokens (NFTs). Check out the difficulties in setting up artists on Web3 with NFTs and discover OpenSea’s decision to finally charge royalties to all collections within its NFT marketplace. In other news, a tool has been released that allows Layer 2 networks to display NFTs on social platforms such as Twitter. And don’t forget about this week’s Nifty News featuring Nike’s Dot Swoosh NFT platform.
FTX infection victim Deepak.eth offers NFT collection for sale
After announcing an eight-figure exposure for FTX exchange, Deepak.eth, the pseudonymous founder of blockchain infrastructure company Chain, tweeted that they are selling their NFT pool to either the highest bidder or through a partial decentralized autonomous organization (DAO) for 80% ownership.
The collection includes notable NFTs such as Bored Ape Yacht Club and Mutant Ape Yacht Club. The block is selling for 8,000 ether
, which is approximately $10 million at the time of writing.
Helping Web3 Master Artists: Triumphs and Struggles
Bernard Alexander, CEO at Animal Concerts — the company that helped celebrities like Snoop Dogg and Billy Ray Cyrus to Web3 via NFTs — spoke with Cointelegraph about the struggles of helping artists get onto Web3.
According to Alexander, helping artists make sense of space remains a major challenge, as people are naturally reluctant to enter an emerging industry that is rapidly evolving.
OpenSea to charge creators royalties to all collections after community outcry
After hearing feedback from the community, OpenSea NFT Marketplace has announced that going forward, it will continue to charge royalties across all pools within the platform. Back on November 7th, the NFT platform launched a tool to allow creators to charge royalties for new pools. However, the new update does not apply to groups that already exist.
Community members criticized the marketplace for not being clear on messaging, and urged the platform to clarify its stance on creator fees. Some NFT creators even canceled their upcoming batch launches until OpenSea made a decision. After this discontinuation, the NFT platform finally decided to charge royalties to all pools.
New tool optimistically reflects NFTs to the Ethereum mainnet for use in verified applications
The developers of Optimism have launched Magic Mirror, an app that allows NFT holders to copy their NFTs to the Ethereum mainnet. This allows users to use their NFTs in applications such as Twitter, where only Layer 1 NFTs were recognized.
Twitter’s NFT badge feature allows holders to verify ownership of their NFTs, showing a hexagonal profile picture. Prior to the app’s release, NFT holders from networks like Polygon, Avalanche, and Optimism were unable to view it on Twitter.
Nifty News: Nike Unveils NFT Platform, Steve Jobs Shoes Sell for $200,000, and More
Shoe manufacturer Nike launched its NFT platform, dubbed Swoosh, and highlighted that its first digital collection will be on the platform in 2023. Meanwhile, an image of Birkenstocks shoes worn by Apple co-founder Steve Jobs has been turned into an NFT and sold for $218,750 at auction.