This week’s newsletter highlights Yahoo’s plans to get involved in non-fungible token (NFT) and Metaverse-based projects. In addition, watch maker TAG Heuer is dipping its toes into NFTs, and the number of digital collectibles platforms in China has increased despite warnings from the government.
On a positive note, a cryptopunk that was donated to Aid for Ukraine sold for over $100,000. And don’t forget about this week’s nifty news roundup featuring brand new leads for Cryptopunks and a phishing attack on a Solana-based project.
Yahoo launching Metaverse program for Hong Kong residents under sanctions
Online media company Yahoo recently announced its plans to tie up with a series of NFT and Metaverse projects in Hong Kong. This includes hosting virtual events within an Asian country and concerts in the metaverse.
According to Lorraine Cheung, an executive at Yahoo Hong Kong, activities in the Metaverse are seen by residents of Hong Kong as a good alternative to social interaction, as pandemic restrictions are still very strictly enforced and people have been tested negative for COVID-19. Test submission is required. Before entering a bar or restaurant.
Yahoo will team up with local artists to launch an NFT exhibition called The Abyss of Kwun Tong.
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Swiss luxury watch maker TAG Heuer introduces NFT-enabled smartwatch
TAG Heuer, a luxury watch maker, has partnered with key members of the NFT community to create a smartwatch featuring the NFT. The watch will allow users to connect to crypto wallets such as MetaMask and Ledger Live to see which NFTs are displayed on the smartwatch’s screen.
Watch owners will also be able to resize images to fit the display and NFTs will connect to the blockchain to verify ownership and show a hexagonal version of the artifact. The company also said that apart from supporting images, it will also support GIF and infinity loop animation.
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NFT platforms in China grow 5x in four months despite government warnings
Despite warnings from the Chinese government about the risks of investing in NFTs, the number of platforms focused on digital collectibles has grown to more than 500, five times more than in February. Local Chinese reports attribute the development to increased hype around NFTs within the country. Tech giants like Tencent and Alibaba have also shown interest in the NFT space and recently filed their trademark patents.
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related: UAE releases world’s most expensive modern postage stamp
Ukraine Cryptopunk sells NFT donations for 90 ETH, worth $100,000. More than
Cryptopunk #5364, an NFT that was donated to support the Aid for Ukraine campaign, was sold for 90 Ether (ETH) at the time of the sale, valued at $102,640. Ukraine’s Deputy Minister of Digital Transformation Alex Bornyakov announced the sale of Cryptopunk on Monday. The price of the NFT has risen from its opening price of 16.19 ETH, or $31,722, which was worth the amount at the time the donor acquired it.
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Nifty News: Christie’s NFT Expert to Lead Cryptopunks, Fake Successor Launches NFT Collectibles
NFT expert Noah Davies has announced that he is leaving his position at British auction house Christie’s. In a tweet, Davies said that he will be joining Era Labs to become the brand lead for the Cryptopunks project. Meanwhile, Solana-based NFT project Duppies has been the target of a phishing scam. Users reported losses online, with one user claiming to have lost 650 SOL, which was worth $18,850 at the time of the attack.
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Thank you for reading this digest of the week’s most notable developments in the NFT sector. Come back next Wednesday for more reports and insights into this actively developing space.
