27 June: Weekly NFT and DeFi Recap
Collectibles galore, Tezos and F1 get closer, JayZ ♥ NFTs
Here is everything that happened in the NFT and DeFi world last week in a byte size, five-minute read.
Dear Mayaverse Family,
JayZ has a CryptoPunk and he is flaunting it on Twitter.
Apes, yetis, aliens, zombies, students, robots, cats, dogs, skulls, pickles, bulls, strawberries…..Are we reaching peak collectible saturation or ‘collecturation’? Does the market have an appetite for more NFT collectible projects? Is this ICOs all over again?
As usual, a lot has happened this week.
Let’s dive right in.
NFTs
🤖Reddit NFT
Reddit minted their NFT collection titled CryptoSnoos. The artworks “Original Block”, “Helium”, and “Snoopermatic” are based on the original Reddit logo made by Reddit co-founder Alexis Ohanian in 2005.
The NFT’s were minted on June 17th. The auction is due to end on June 30, although it may be extended if bidding becomes competitive. Bidding for the “Original Block” NFT has already reached over $4,000 worth of ETH 2 days ago.
⚽Germany Football team NFT
The German Football Association will create player NFT cards that can be used in Sorare’s Global Fantasy Football game.
The German Football Association (DFB) believes that this will not only be a new revenue stream but also provide more fan engagement opportunities.
🛒Binance NFT Marketplace
Binance, the cryptocurrency exchange, debuted its NFT marketplace on Thursday. Users can mint and exchange non-fungible tokens on the platform. It makes use of Binance’s blockchain architecture and includes a variety of digital artwork and collectibles.
A premium auction, Binance NFT’s first series of “Mystery Boxes,” and the start of Binance’s “100 Creators” initiative were a part of the debut.
The Binance Smart Chain will enable the NFT marketplace, but it will also be supported by the Ethereum network.
🎼Indian Artist collaboration, fastest sale ever on WazirX NFT platform
On Monday, Wazirx NFT market recorded its fastest-ever sales. This was a collaborative artwork posted by visual artist Santanu Hazarika and singer-songwriter Ritviz. The artwork was snapped up within seconds of going live.
On World Music Day, the artwork was listed and sold for 300 WRX (Wazirx tokens), approximately $391.80 at the time.
This is good news for the market which has struggled with making sales post the initial euphoria.
🎶Jay-Z celebrates 25th anniversary of “Reasonable doubt” with an NFT.
Jay-Z will celebrate the 25th anniversary of his debut album, Reasonable Doubt, by releasing his first ever non-fungible token.
Jay-Z commissioned artist Derrick Adams to produce a one-of-a-kind animated digital piece based on the Reasonable Doubt cover for the NFT. Heir to the Throne is the title of the new composition, which was going to be the title of Reasonable Doubt.
Sotheby’s will auction off the Heir to the Throne NFT online. The auction will run from today, June 25th, at 10 a.m. ET, until July 2nd, at 10 a.m. ET. A portion of the auction proceeds will benefit the Shawn Carter Foundation.
🏁McLaren Racing to build NFT platform
Tezos, the world’s most advanced blockchain, has been named McLaren Racing’s Official Technical Partner in a multi-year technical agreement spanning Formula 1, INDYCAR, and esports. McLaren will build a NFT platform around the Tezos blockchain with “with fan experience at the heart”
👨💼 Job Fair in the Metaverse
A job fair hosted in Decentraland offered career opportunities with blockchain and NFT companies like NotFungible(Crypto Art/NFTs), GAMECredits(Blockchain Gaming), Digitible(Digital Fashion), Metaverse Group(Virtual Real Estate), and The Decentraland Foundation.
DeFi & Crypto
🚫Binance pulls out of Ontario. In UK and Japanese regulator’s cross hairs.
Leading crypto exchange, Binance has decided to cease operation in Canada’s most populous provice Ontario. The company has advised Ontario-based users to close all active positions and that they have until the end of the year to withdraw their funds.
Although it is not clear if this the direct result of a regulatory action or if it is only a Binance being extra cautious following the Statement of Allegations issued last week against Bybit and other exchanges by the Ontario Securities Commission (OSC).
Britain’s Financial Conduct Authority (FCA) has warned that Binance shouldn’t be operating in the U.K.
“No other entity in the Binance Group holds any form of UK authorization, registration or license to conduct regulated activity in the UK,” the FCA statement said.
That is it for this week. We will be back next week with more NFT and DeFi news. Stay tuned, subscribe if you haven’t already, and tell your friends about it.
