Web3 Roundup 11-13-23
A roundup of activity in NFT, Metaverse, Gaming and AI
Brand Web3 Activity
Simpsons Release NFT Themed Episode
The iconic animated sitcom, The Simpsons, recently dropped their annual Halloween episode, known for featuring multiple mini-episodes
This year one of the mini-episodes was entirely to the theme of NFTs
In the episode Homer accidentally mints his son Bart into an NFT and is at first sad, but then finds relief when he finds out his sons token is quite valuable
Many prominent NFT collections were featured in the episode and even the likeness of individual NFTs within collections have been pointed out on X
Collections featured include, Beeple’s Everydays, Doodles, Bored Apes, Crypto Punks, Crypto Kitties, Nyan Cat and more.
After the episode was released there was a flurry of Simpson themed NFT collection minted which have all since dropped drastically in value
Article links:
https://nftnow.com/news/the-simpsons-tap-into-nft-culture-in-their-latest-episode/
Gucci Launches New Sandbox Activation
Gucci is building on its past activations within the Sandbox Metaverse, this time transporting their current retrospective “Gucci Cosmos” on view at the Strand in London into the digital experience
Players will be able to explore the digital retrospective, learn about the brands history and complete mini games
The first 100 players to complete all games will unlock a Gucci avatar NFT
This collaboration comes of off last years Gucci Vault which was also accessible via the Sandbox Metaverse s
Article links:
https://www.forbes.com/sites/stephaniehirschmiller/2023/11/08/why-gucci-cosmos-blockbuster-show-is-launching-in-the-sandbox-game/?sh=114e762ad89f
Native Web3
NFT Sales Surged in October and November
The sale price / volume of NFTs across all types of collections and blockchains are up significantly in October and November 2023
Between September and October there was a 32% percent increase in sales which is equivalent to an extra $99M in sales
Early data shows this trend continuing into November though the NFT market still has a long way to go in regaining the previous highs of the bull market
Interestingly, while total price of sales jumped the actual number of individual NFTs sold were down around 5% between September in October
One possible reason for this is the market has contracted to a handful of relevant projects, making the average consumer is more likely to bet on those projects than taking a gamble on a new unproven project
Article links:
Popular NFT collection Claynosaurz to Release Plush Line
Solana based NFT project Claynosaurz are following in Pudgy Penguins footsteps and releasing a line of plush toys
However where Pudgy Penguins blitzed the market, Claynosaurz are taking a crawl-walk-run approach
The first offering will be a limited run that can only be purchased via an NFT
The Claynosaurz community will have first access to the NFT and it will cost roughly $40
Once the NFT’s are redeemed this color way will be retired
In the future Claynosaurz will look to have a full release of their plush line.
Article links:
Phantom Wallets Introduces Mobile Minting Feature
Solana based wallet, Phantom, has rolled out a unique new feature for their users
From November first onwards, users will be able to choose images or videos from their camera rolls and mint them as Solana NFTs at the touch of a button no code required
The images and video will then be saved in perpetuity on the blockchain
The NFT’s can then be traded but some are pointing out that most will not want to sell these photos, rather use them as memories stored within their wallets.
Article links:
OpenSea Lays Announces Layoffs
Once valued at $13B, OpenSea is facing rough waters
OpenSea has long been the dominate marketplace in web3
Founded in 2017 they had the first moved advantage by a long shot and quickly capitalized going into the NFT bull market
However in recent times they have made some questionable moves and lost the support of some of the biggest players in the space such as Yuga Labs
On November 3rd the Open Sea CEO announced the company would be laying off 50% of its work force in an effort to retool the platform and focus on speed to market for future updates
This comes as a flurry of new competitors arise (see next article)
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Yuga Labs and Magic Eden Team Up for Creator Focused Marketplace
After taking their collections off of OpenSea, Yuga Labs has announced it is teaming up with competitor marketplace Magic Eden to help them launch their upcoming Ethereum NFT marketplace
This marketplace will come with a twist however, as it will be the first Ethereum marketplace with a contractual obligation to uphold creator royalties
Going forward Yuga says it will only work with marketplaces that enforce creator royalties as they see it as a win for themselves and the overall web3 space
One cannot help but see this as at least in some part a retaliation of OpenSea’s recent decision to not enforce royalties which led to the public spat with Yuga
Article links:
Ape Fest Attendees Injured by UV Lights
Yuga Labs recently held its annual Ape Fest In Hong Kong
This was Ape Fest’s first time being outside of the United States and community members travelled from all over the world for the meet up
Unfortunately it seems a few club members were injured during the festivities
While reports are still being collected, Yuga has completed their own independent investigation and it seems that one UV light used during the stage performances was the wrong type of light and actually burned and exposed viewers eyeballs to UV radiation
While the effects are reportedly painful they are not long lasting
Article links:
Rarible Launches RaribleX
NFT marketplace Rarible has launched their newest feature “RaribleX”
Instead of competing with OpenSea and Blur for marketshare within the web3 world, RaribleX aims to be a turnkey solution for brands who want to create and control their own NFT marketplace
Brands will be able to work with RaribleX to custom design a marketplace to their specifications and needed features
Current clients of RaribleX include Mattel who has launched custom marketplaces for their IP Hot Wheels and Barbie and Animoca Brands
Article links:
AI News
ChatGPT Launches Build Your Own GPT Feature
ChatGPT continues to roll out exciting new features at a breakneck pace
Open AI CEO Sam Altman recently demoed the “Build your GPT” feature that will allow users to create their own ChatBots specially designed and curated by users to be experts in certain subjects
Users can not only tell their own GPTs what to do, but they can also upload their own documents to be used and studied by the AI
For example a professor could upload all their lectures and notes on the subject as a learning tool for the AI
OpenAI will also be releasing a GPT store where GPTs that are built by the community, the creator will then be able to monetize their GPT based on how many people are using it
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Elon Musk Unveils Competitor to Chat GPT “Grok”
Elon Musk has entered into the AI arms race with his own chatbot currently called “Grok” integrated into the X platform
Grok is quite different than most AI chat bots out there:
First it has much fewer guard rails than other GPT’s and will answer questions that contain sexual, racial, political, and otherwise provocative themes that other GPTs would not
Second unlike most other GPTs Grok is trained on real time knowledge via the X platform and can access real time world developments
And third Grok was trained to resemble the AI from Hitchhiker’s guide to the Galaxy and will respond to questions “ With a bit of humor and has a rebellious streak”
Article links:
Animated Films Could End up Costing 90% Less
In an interview, DreamWorks SKG cofounder Jeffrey Katzenberg noted that it would take 500 artists five years to create a world class movie
Thanks to AI, in the future it may take 10% of that, leaving many animators without a job
Instead, ‘prompters’ will generate the majority of the scenes
Article links:
Metaverse / Gaming
Fortnite Brings Back OG Map - Active Player Count Skyrockets
Fortnite has long been dominant in the Battle Royale space, however their constantly changing map and gameplay elements left some players nostalgic for a simpler time, specifically the first map that Fortnite launched with in 2017
Epic Games has heeded the calls of their community to truly astounding results
After rolling out their OG map, Fortnite servers reported 44.7 million unique players with over 102 million hours of play, making November 5th the biggest day in Fortnite’s 6 year history
Article links:
Ubisoft is Making a Blockchain Gaming Experience
Ubisoft, the developer behind popular gaming franchises Assassin’s Creed and Far Cry are dipping their toes into the blockchain gaming world
They have recently announced they are teaming up with web3 based gaming company Immutable for a “crypto gaming experience”
Details on what exactly is being built are scarce but the Immutable CEO was quoted saying “The companies will offer digital ownership to players through the collaboration” leading many to speculate that NFT’s will play a prominent role
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Roblox CEO Talks Future of NFT’s on Roblox.
Roblox has long been thought of as a perfect platform to integrate NFTs and it seems the CEO has been thinking along the same the lines
In an interview with CNBC the Roblox CEO spoke of a future where creators could sell digital creations that could then be taken off platform via NFTs
While no immediate plans were announced its still exciting to see the blockchain tech discussed so openly
Article links:
Crypto
BlackRock Files for Ethereum ETF
American financial firm BlackRock has revealed in a filling with the Nasdaq stock that it is proposing an “Ishares Ethereum Trust” that would allow for investors to get exposure to Ethereum’s price movements via the traditional stock exchange
Ethereum jumped 10% on the news
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Hong Kong Joins USA in Considering Crypto ETFS
The narrative around American financial players such as BlackRock filling crypto backed ETF has fueled much of the recent rise in speculation however it seems Asia will not be left out of the party
On November 5th Julia Leung, the chief executive officer of Hong Kong confirmed the regulator was currently evaluating the possibility for retail investors to access crypto ETFs
Article links:
Sam Bankman Fried Found Guilty on All Charges
SBF’s much publicized trial has ended in guilty charges on all 7 counts of fraud and conspiracy
SBF was accused of embezzling billions of dollars of customers deposits on his crypto exchange FTX as well as defrauding lenders of FTX’s sister company Alameda Research
Sam Bankman Fried will be held at a federal prison in Brooklyn awaiting his sentencing on March 15
He will also stand trail for an additional 5 charges in March as well
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