The Week In Facts #87
Topic: Mobility
Lucid Motors Drops the Price of Its Cheapest EV by More Than $8,000 Source: TechCrunch
Lucid Motors has announced significant price reductions for its electric sedans in an effort to stimulate demand following a year of disappointing sales. The base model Lucid Air Pure's rear-wheel drive version now starts at $69,900, a decrease from $77,400.
The Lucid Air Touring model, offering all-wheel drive and roughly 50% more horsepower, is now priced at $77,900, down from $85,900. Additionally, the Lucid Air Grand Touring, boasting over 500 miles of range, sees a price reduction to $109,900 from $110,900.
Lucid is also offering $1,000 towards the purchase of a home charging solution and including free scheduled maintenance for two years or up to 24,000 miles with every new purchase.
These price cuts follow a year in which Lucid delivered just 6,001 cars and come ahead of the company's financial results announcement for the year.
#AirTouring
Topic: Digital Product Passport
The EU Wants to Introduce a Digital Passport for Children's Toys
Source: Europa Today
The European Parliament's Internal Market and Consumer Protection Committee has provisionally approved new regulations for children's toys sold in the EU, including the introduction of a digital passport.
This digital passport will contain information about the materials used, assembly methods, and compliance with EU safety standards. Aimed at enhancing safety and reducing health risks, the regulation also sets higher safety standards, including bans on harmful chemicals.
The regulation, which will replace the existing directive, emphasizes transparency and consumer protection, particularly for digital toys with AI features and internet-connected toys with interactive capabilities.
The move is expected to curb unfair competition from non-EU countries with lower production standards and ensure the well-being of children by considering health risks, including mental health.
Hashtag: #EUDigitalToyPassport
Topic: NFT
Points Season: Who's Winning the NFT Marketplace Wars on Ethereum, Solana, and Bitcoin?
Source: Decrypt
The NFT marketplace is witnessing a competitive battle with platforms like Magic Eden, Blur, and OpenSea vying for dominance through innovative rewards models. Magic Eden recently introduced its Diamonds rewards system, rewarding Solana traders retroactively to 2021, aiming to enhance user engagement.
Blur, an Ethereum marketplace, has significantly impacted the market by distributing $818 million worth of BLUR tokens to its users, leveraging a points model. Despite these efforts, Magic Eden's market share has not seen a substantial increase, with Tensor leading in Solana NFT market share.
The broader NFT marketplace landscape shows Blur dominating with a 42% market share, followed by Tensor and Magic Eden. OpenSea, without a points system, maintains a significant presence. Magic Eden's upcoming Ethereum marketplace launch, in partnership with Yuga Labs, represents its next strategic move to capture a larger market share.
Hashtag: #NFTMarketplaceWars
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Topic: Luxury
Glenlivet Distillery Mixes Ethereum NFTs and AI Into Whiskey Collection Source: Decrypt
The Glenlivet, a renowned distillery in Speyside, Scotland, celebrates its 200th anniversary with the launch of a 50-year-old whiskey collection called "The Twelve Elements."
This collection not only honors the distillery's legacy but also embraces modern technology by incorporating Ethereum NFTs and generative AI-designed labels. Each of the twelve whiskeys, representing the essential components of Glenlivet's single-malt, comes with a unique NFT that serves as a digital certificate of ownership.
The NFTs are available through The Whisky Exchange's Cabinet marketplace. This initiative reflects a broader trend in the NFT space towards utility and real-world applications, with major brands exploring decentralized solutions to enhance transparency, authenticity, and combat counterfeits.
The auction for "The Twelve Elements" collection is set to begin on February 21, with prices expected to exceed $43,000.
Hashtag: #GlenlivetNFTWhiskey
Topic: AI
OpenAI Jumps Into Text-to-Video Fray With Sora, Challenging Meta, MidJourney and Pika Labs
Source: Decrypt
OpenAI has introduced Sora, a groundbreaking AI model capable of transforming text instructions into detailed, minute-long videos. Currently in closed beta for selected developers, Sora represents OpenAI's foray into the competitive text-to-video domain, challenging existing players like RunwayML and Pika Labs.
Unlike its predecessors, Sora focuses on generating longer videos with consistent, coherent narratives, addressing the common issue of story fragmentation in longer AI-generated content.
OpenAI's entry into this space signifies a significant advancement in AI-driven video creation, offering unparalleled visual quality and narrative consistency.
Sora's development underscores OpenAI's commitment to pushing the boundaries of AI creativity, with a focus on providing tools for visual artists, designers, and filmmakers to explore new dimensions of digital storytelling.
Hashtag: #OpenAISoraVideo
Topic: Fashion
Fashion: How Cool and Accessible Is Sustainability?
Source: BBC News
Sustainable fashion is proving to be both cool and accessible, as demonstrated by Pembrokeshire Frame, a charity that has seen a 300% rise in profits by adopting a sustainable approach.
The charity supports vulnerable people while reducing waste, showcasing that sustainable fashion can be fashionable and affordable.
Former fashion designer Clare Johns, now a sustainable fashion coordinator, notes a shift in attitudes towards second-hand items, emphasizing upcycling and unique, bespoke creations.
The financial climate has also influenced shopping trends, with consumers increasingly recognizing the value of shopping sustainably.
The charity's efforts in upskilling the community and reducing landfill waste further highlight the benefits of sustainable fashion practices.
Hashtag: #SustainableFashionAccessibility