AlphaPanda Weekly — NFT Highlights
Welcome to this week’s roundup from Alpha Pandan with the latest news and developments in the exciting world of NFTs. The NFT market has been buzzing with activity lately, as more and more artists are joining the NFT craze. From multi-million dollar sales to groundbreaking collaborations, there’s never been a better time to keep up with the latest happenings in this dynamic industry. In the world of NFTs last week, Decentraland is gearing up for the second edition of Metaverse Fashion Week, CoinDesk is creating an NFT-based experience for attendees of the 2023 Consensus event, Magic Eden is launching Mint Madness, Starbucks has sold out of its collection of 2,000 NFT “Stamps,” and Vitalik Buterin, the founder of Ethereum, has released a fresh collection of NFTs that gained significant attention in the cryptocurrency community. So, without further ado, let’s dive into the top stories making waves in the NFT market this week.
Vitalik Buterin’s NFT Collection Earns $13.7 Million in Trading Volume
This week, Vitalik Buterin, the introverted yet brilliant founder of Ethereum, stepped out of his comfort zone and released a fresh collection of non-fungible tokens (NFTs) which led to a significant increase in sales over the past week. The NFTs, authorized by Buterin, were launched on March 1, but it wasn’t until this week that they gained attention from the wider cryptocurrency community. This resulted in a surge in secondary sales, ultimately leading the collection to take the top spot on OpenSea.
Each NFT in the collection features a digital rendition of a 2018 white paper presented as an album cover, signed by its co-authors which include Buterin, a Harvard economist, and a researcher from Microsoft. Along with the NFTs, Buterin hand-signed 12 physical copies of the white paper, which accompanied a signature edition of the NFTs.
As of Friday, the project had amassed approximately $13.7 million in trading volume, according to OpenSea.
Starbucks Sells Out 2,000 NFT “Stamps” in 20 Minutes
According to CoinDesk, Starbucks created a stir by selling out of its collection of 2,000 NFT “Stamps”, a part of the Starbucks Odyssey membership program, in less than 20 minutes. The coffee chain introduced a Web3 program in December, and customers were excited to participate in its initial launch this week. Each NFT in the collection costs $100 and features the famous Siren from the Starbucks logo.
The NFT craze has been fueled by Starbucks’ initial NFT release, the “Holiday Cheer Edition 1 Stamp,” which was distributed for free to Starbucks customers who completed certain tasks. However, as of Friday, they were being resold for almost $2,000.
The price floor for the latest Starbucks Siren collection had risen to just below $400 by Friday.
Magic Eden Launches Free-to-Play Minting Games on Multiple Blockchains
Magic Eden, a leading blockchain game studio, has announced the launch of Mint Madness, a collection of over 12 free-to-play minting games available on Polygon, Ethereum, and Solana. Mint Madness will be available in March and is part of a growing trend of promoting Web3 games, which provides a notable opportunity for the general public to gain free access to a wide range of new games on multiple blockchains. Interested gamers can participate in Mint Madness and earn a spot on the whitelist by filling out the form released by Magic Eden.
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Consensus Organizers Partner with Artists for NFT-Based Experience
CoinDesk, the organizer of Consensus, one of the largest annual events in the cryptocurrency industry, has announced a series of partnerships to create an NFT-based experience for attendees of the 2023 edition. The Microcosms Collection will give holders three years of access to Consensus and a reward system based on levels. Each NFT will contain a unique piece of generative artwork created by artist Fahad Karim and will have different benefits and rewards based on rarity. The NFT-based experience aims to bring a new level of engagement and immersion for attendees.
Decentraland Hosts Metaverse Fashion Week, Featuring Traditional Fashion Houses
Decentraland, a virtual world built on blockchain technology, is hosting the second edition of Metaverse Fashion Week in March. The event will feature traditional fashion houses such as Dolce & Gabbana, Tommy Hilfiger, Coach, and Adidas, showcasing their digital wearables. This year’s theme, “Future Heritage,” will highlight traditional fashion houses taking their first steps into Web3. After the participation of Estée Lauder and Forever 21 in last year’s edition, this event is an opportunity for fashion houses and NFT-native brands to test their position on Web3 and explore the potential of NFTs in the fashion industry.
Conclusion
From our perspective, AlphaPanda finds out that several major developments occurred in the world of NFTs this week, including Decentraland hosting its second Metaverse Fashion Week, CoinDesk announcing an NFT-based experience for attendees of Consensus 2023, Magic Eden launching a collection of free-to-play minting games, Starbucks selling out of its NFT “Stamps,” and Ethereum founder Vitalik Buterin releasing a fresh NFT collection that surged in sales. The situation of the NFT market remains dynamic and evolving, with ongoing interest and investment in the potential of NFTs in various industries.
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