NFT
NFT-collateralized loan platform Arcade raises $15M in funding round
Arcade, a platform that allows users to utilize nonfungible tokens (NFTs) as loan collateral, has raised $15 million in a Series A funding round with participation from Pantera Capital. In a Wednesday announcement, Arcade said Pantera, Castle Island Ventures, Franklin Templeton Blockchain Fund, Golden Tree Asset Management, Eniac Ventures, Protofund, Probably Nothing Capital and Lemniscap in addition to angel investors BlockFi CEO Zac Prince and Quantstamp CEO Richard Ma were behind the investment in an effort to connect NFT-collateralized lending with the decentralized finance space. The platform is also coming out of a private release with $3.3 million in total loan volume secured on a total of $10 million in assets. Arcade co-founder Gabe Frank said NFTs account for a significant portio...
China’s state-run news agency to launch NFT collection
In an announcement made on Wednesday, China’s official Xinhua News Agency will issue its first series of nonfungible token (NFT) collectibles. The move is a thumbs up to blockchain technology previously shunned by the People’s Republic of China (PRC). In an official notice, Xinhua plans to publish 10,000 copies of 11 photos taken by journalists in 2021. The stride into NFTs is puzzling in light of recent events in the world’s second-largest economy. Following a nationwide crypto crackdown where Bitcoin (BTC) and Ether (ETH) mining was banned, China has recently taken aim at NFTs and metaverses and proposed that they should be heavily monitored. Despite the anti-crypto sentiment, tech giants Tencent and Huawei were not discouraged from pursuing trademarks in the metaverse. Elsewhe...
Steve Aoki Will Take to the Metaverse Jungle to Headline Monkey Kingdom NFT Event
Only Steve Aoki has the energy to stir a band of raving apes into a frenzy, and with his new partnership alongside the Monkey Kingdom NFT collection, that’s precisely what he’s going to do. Aoki has been slated to headline the Monkey Kingdom Christmas Party, which will take place in the Cryptovoxels digital metaverse. Aoki has become one of the foremost purveyors of NFTs in the electronic dance music landscape. He’s also a known fan of ape-themed projects specifically, given that he possesses an astounding seven collectibles from the famed Bored Ape Yacht Club. For obvious reasons, Monkey Kingdom has been compared to the iconic BAYC series, and just last month the collection went live with the launch of 2,222 monkey avatars. According to a press release, the artwork ...
Brian Eno on NFTs: “Now Artists Can Become Little Capitalist Assholes as Well”
Add Brian Eno to your list of stars charmingly unimpressed with NFTs. When asked about today’s hottest economic scam in an interview with The Crypto Syllabus, the legendary musician said he wouldn’t be dabbling in the trend any time soon. “I’ve been approached several times to ‘make an NFT.’ So far nothing has convinced me that there is anything worth making in that arena,” Eno said. “‘Worth making’ for me implies bringing something into existence that adds value to the world, not just to a bank account. If I had primarily wanted to make money I would have had a different career as a different kind of person. I probably wouldn’t have chosen to be an artist. NFTs seem to me just a way for artists to get a little piece of the action from global capitalism, our own cute little version of...
Bitwise launches NFT index fund for accredited investors
In an effort to democratize access to nonfungible tokens, art collections and other digital assets of value for the masses, Bitwise Asset Management launched its new index fund on Dec. 16. As per the announcement, the Bitwise Blue-Chip NFT Index Fund is designed to allow accredited investors to invest in major nonfungible tokens and art collections. The NFT industry has exploded in 2021. Retailers throughout the world purchased millions of dollars worth of CryptoPunks, drawing institutional and accredited investors. In the third quarter of 2021, NFT trading volumes surpassed $10 billion for the first time. The crypto firm stated that the Bitwise Blue-Chip NFT Index Fund is now available to qualified investors for private placement subscriptions. The minimum investment is set at $25,00...
World’s biggest douchebag releases NFT collection
Around the world, douchebags are getting into NFTs in a big way. Now it’s true that there are thousands and thousands of legitimate artists in the growing non-fungible token space, and that precisely none of them are Paris Hilton. And sure, NFTs are a potentially world-changing phenomenon that were just declared ArtReview’s most powerful entity in the art world, though probably not as a result of the “catastrophic failure” that resulted in John Cena selling just 37 sad copies of a one thousand-NFT drop. There may indeed be all kinds of use-cases for NFTs — such as the censorship-proof preservation of historical records — that will cause future generations to wonder why it took us so long. But don’t let any of these important developments detract from the absolute douchebaggery that’s curre...
Songs Synthesized From COVID-19’s Genetic Code Can Now Be Purchased as NFTs
Exploring nonstandard methods of music creation has been well on the rise in the age of big data and artificial intelligence. In one such data-driven music project titled ViroMusic, music producers have iterated upon this approach to even begin synthesizing genetic code into songs. The process of developing these songs began with software sifted through the contents of COVID-19’s RNA to identify strands of data which could be turned into music. A proprietary algorithm subsequently translates the data sets into musical notes, leading to a melodic progression that could be played by a musician. ViroMusic call this transformative process DNA Sonification. In total, a series of 10,000 sequences were synthesized into songs, which were then minted as NFTs. Musicians soundtracked the o...
Don Diablo’s $1.2 Million NFT to Be Displayed Alongside Works By Basquiat, Banksy, Andy Warhol
Don Diablo‘s latest groundbreaking NFT venture comes with a spaceship-like physical structure, the largest to ever be attached to a tokenized collectible sale. The NFT, dubbed “HΞXHIBIT III,” was recently sold to a museum collection that houses original works by the likes of Andy Warhol, Keith Haring, Jean-Michel Basquiat and Banksy. Auctioned off by Sotheby’s for $1.2 million, the project marks a milestone for Diablo and further legitimizes the digital art world in which the EDM producer is an unquestioned pioneer. Don Diablo’s “HΞXHIBIT III” physical NFT. c/o Press Also making history is the scale of “HΞXHIBIT III,” which comes paired with one of the largest physical art pieces to ever be attached to an NFT. ...
Thief Steals Charitable Daft Punk Artwork and Sells It for $12,000 In Crypto
A Daft Punk hobby artist has fallen victim to the dark side of the NFT gold rush. The artist, who works under the pseudonym sodasprouts, had created bespoke digital artwork depicting Daft Punk to promote “One More Time,” a charitable fanzine dedicated to the legendary electronic music duo. However, she claims her work was stolen and subsequently sold as an NFT for $12,000 worth of cryptocurrency. All profits from the zine benefit The Trevor Project, the world’s largest suicide prevention and crisis intervention organization for the LGBTQ+ community. “That’s $12,000 that could have gone to charity, $12,000 that could have paid for my spring semester of college or that could have gone to rent,” sodasprouts tweeted. “I’m sure more has been stolen.” Re...
An NFT Collector Spent $450,000 to Be Snoop Dogg’s Virtual Neighbor
As if flailing to keep up with NFT news hasn’t caused you enough headaches yet this year, here’s a doozy for you: An NFT collector spent almost $450,000 for a plot of virtual land — yes, virtual — in the Snoopverse, an interactive world being developed by none other than Snoop Dogg. You can find the Snoopverse in The Sandbox, an Ethereum-based platform for creating and monetizing online hangout spaces and gaming experiences. By being Snoop’s virtual neighbor, you’re promised access to exclusive, members-only parties at a digital replica of his California mansion. Snoopverse residents (Snoopites? Snoopers?) can deck their avatars out in designer duds, drive souped-up sports cars, and build on their own Snoopverse plots, which allows them to profit off other residents who visit. Kind of like...
VRJAM Launches Public Token Sale to Revolutionize Metaverse Music Experiences
The concept of the metaverse and speculation about its impact on the future of the music industry have been buzzworthy topics throughout 2021, and those conversations are only just beginning. According to EMERGEN Research, the current $47 billion metaverse sector is expected to continue growing at a compounded annual growth rate of 43.3% through 2028. And with a long runway of upside ahead, VRJAM is wasting no time in an effort to become an early frontrunner in the emerging metaverse concert space. In partnership with Enjin.io, VRJAM is taking a multi-faceted, artist-first approach in delivering turnkey-style NFT solutions and providing a platform for virtual concerts that are easily monetized by performers. VRJAM seeks to bring artists closer to their fans by providing the...
deadmau5 and Portugal. The Man Could Achieve First Platinum-Selling Song Distributed Exclusively as NFT
deadmau5 and Portugal. The Man are seeking to take their new collaboration Platinum exclusively through the use of NFTs. In a groundbreaking use case, the artists are minting one million copies of their collaboration, dubbed “this is fine,” on the NEAR blockchain. Fans can pick up a copy via the Mintbase NFT marketplace. Copies of the NFT are being sold for 0.25 NEAR each, equivalent to around $2.25 USD. The methodology harkens back to the days of downloading iTunes singles for $1.29 each back in the pre-streaming era. Outside of the single itself the purchase includes a copy of the track’s cover art, which was developed collaboratively between Smearballs—the designer behind deadmau5’s surrealist “Monophobia” music video—and Woode...
