NFT Innovation Digest #16

Most innovative (author's pick)

FloorDAO is a new DAO that will use the bonding mechanism of Olympus V2 to distribute discounted $FLOOR tokens in exchange for PUNK and PUNK-ETH liquidity. With the acquired treasury, FloorDAO will try to solve the NFT liquidity issue with platforms like NFTX by pooling the floor items of a collection together and allowing fungible ERC-20 tokens to be minted from NFTs.

More:

• The DAO will also use the rebasing mechanism of Olympus V2 to distribute protocol rewards based on the treasury growth;
• For the launch, FloorDAO will be focused on decentralization, with no private sale or seed round.

Most discussed

The Sandbox Announced Mega City, its latest map expansion. Mega City will be a cultural hub featuring multiple Hong Kong partners from the film, music, entertainment, acting, professional services, finance, real estate, and gaming sectors.

More:

• The Sandbox will launch a new land sale on 13 January 2022 that will enable players to purchase spots close to the lands of the partners;
• A few partners who acquired LAND to build Mega City include Hong Kong tycoon Adrian Cheng, Sun Hung Kai & Co, PwC Hong Kong, TIMES CAPITAL, and more.

Eminem joined Bored Ape Yacht Club with 123 ETH ($462,000) NFT purchase. The Bored Ape depicts traits that Eminem uses in real life (gold chain necklace and khaki army cap) and was nicknamed EminApe.

More:

• The transaction was completed through the digital agency Six, which had previously worked with other celebrities such as Wu-Tang Clan, Tycho and Galantis.

Mainstream Adoption

Samsung's latest TV lineup will feature an integrated platform to discover and trade NFTs. The buyers will be able to explore blockchain metadata to verify the NFTs' provenance before the purchase.

More:

• NFT creators will be able to preset the display settings for their pieces, so everyone can see them in the same conditions;
• Samsung's focus on blockchain seems more engaged on building infrastructure support for its growing user base. In 2019, the company launched the Samsung Blockchain Wallet on its Galaxy phones, now it's giving a big step towards adopting the blockchain technology on its TV lineup.

Ozzy Osbourne launched an NFT collection called CryptoBatz. The collection comprises 9,666 NFT bats. Each CryptoBat has a feature that will enable the collectors to birth an additional NFT by allowing their bat to bite and mutate with another NFT in their wallet.

More:

• The feature “MutantBatz” will in the future enable owners to combine attributes of two different projects;
• According to Rolling Stone, Bored Ape Yacht Club, Cryptotoadz, SupDucks and a fourth entity are involved in the project;
• Pre-sales are available now through CryptoBatz Discord channel, and further 2,500 CryptoBat pre-sale whitelist passes will be available exclusively through the same channel.

South Korea's leading presidential candidate announced NFT fundraise. Lee Jae-myung, the ruling Democratic Party's candidate in the 2022 presidential elections, will be giving NFTs to donors to his campaign.

More:

• The news comes amidst the concerns that this type of fundraises might violate the Political Funds Act or the Public Official Election Act;
• The donors will not purchase the NFTs, rather they will receive NFTs including a picture of Lee and a list of his policies as a record of their donation.

New products and ideas

CoinGecko launched its new book "How to NFT", a comprehensive guide to NFTS. The book provides an understanding of the current NFT landscape; NFT basics such as minting and trading; a deep dive into diverse NFT ecosystems and current trends and future directions of the space.

More:

• The book is available for $14.99 at the CoinGecko website and comes with PDF, ePub, and Mobi versions;
• The How to NFT guide offers a great structure to explore the NFT ecosystem, exploring main NFT topics: crypto art, music, collectibles, gaming, sports, metaverse, and much more.

NFT venture firm Metaversal raised $50M in a Series A funding led by CoinFund, Foxhaven Asset Management, DCG and Dapper. The firm will use the funding to increase its portfolio and support companies building an open Metaverse.

More:

• Metaversal was the first institutional investor in ConstitutionDAO and has collected up to 750 NFTs up to date;
• According to the press release, the venture studio plans to collaborate with Dapper Labs and Rarible in the future.

Recommended Readings/Watchings

• State of the NFTs: This Metaversal issue explores the highlights of the 1confirmation's 2021 NFT Year in Review report;
• Accessorizing The Metaverse With Luxury AR Wearable NFTs: In this Forbes article, Cathy Hackl dives into how fashion brands can play a significant role in the NFT space with digital luxury goods.

New podcasts and shows

• Zima Red Podcast: In this episode, Andrew interviews Alex Gausman, the founder and lead contributor to NFTX, an NFT liquidity protocol and decentralized NFT exchange;
• Unchained Podcast: In this episode, Laura interviews Jonathan Mann, the creator of Song a Day, publishing a song every day for 13 years. In the episode, Mann explains how he came up with the idea to publish his songs as NFTs and his plans for a DAO around the project called SongADAO.

Save the date

• 14th - 16th January: ETH Global NFT Hack is a virtual hackathon and summit that brings together creatives and developers of the NFT space, don't miss it!
• 17th - 20th February: ETH Denver is the largest and longest running ETH event in the world, with several panels, workshops and hackathons, it's a no-brainer.

NFT space in numbers

The values below are from 31st December 2021 - 6th January 2022. Source: DappRadar.

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