7 min read

NFT Innovation Digest #26

BAYC Launches APECoin and purchases Punks' IP / Instagram to integrate NFTs / Stripe announces crypto and NFT support
NFT Innovation Digest #26
Art: Bard Ionson

Most innovative (author's pick)

Image: APECoin

Bored Ape Yacht Club has launched its ERC-20 token APECoin. The token will be a central part of the economy of Yuga Labs' collections and support initiatives related to culture, gaming, and the metaverse. The NFT industry has not yet seen an NFT project with such size and engagement to launch a token to foster community development.

More:

  • Bored and Mutant Ape Yacht club holders will be airdropped with 15% of the APECoin supply;
  • 62% of the token supply will be kept for the community, with the rest going to the team;
  • APECoin was listed since day 1 on the major crypto exchanges such as FTX and Coinbase.

Most discussed

Image: Larva Labs

Yuga Labs, the creator of Bored Ape Yacht Club, acquired the IP of CryptoPunks and Meebits and will transfer the IP rights to individual token holders. Since Larva Labs has no royalties on CryptoPunk or Meebits sales, the acquisition was only focused on the IP rights.

More:

  • Yuga Labs has also acquired 400 CryptoPunks and 1,700 Meebits from Larva Labs as part of the deal;
  • After the acquisition, Larva Labs will keep working independently and work on new projects.

Image: Mark Zuckerberg

Mark Zuckerberg confirmed Meta's plans to bring NFTs to Instagram during a panel at SXSW. Zuckerberg did not dive into details but said the NFT integration would happen "hopefully" in the coming months.

More:

  • The feature will enable the Instagram users to mint their NFTs within the app;
  • In January, the Financial Times reported that Meta was working on a feature for both Facebook and Instagram users to display NFTs on their profiles;
  • In the same panel, the company stated that its metaverse will support NFTs.

Mainstream Adoption

Image: Stripe

Global payment giant Stripe announced support for crypto exchanges, wallet providers, and NFT marketplaces. Now the company offers fiat payments API integration for crypto businesses to make crypto-to-fiat payments.

More:

  • As part of the announcement, Stripe will offer flexible on-ramps, that will enable both fiat deposits and withdrawals for crypto exchanges;
  • Crypto exchange FTX has partnered with Stripe to improve its know your customer (KYC) protocols that will integrate its crypto business toolkit.

Image: The Sandbox

Banking giant HSBC partnered with metaverse platform The Sandbox. HSBC acquired a plot of land in The Sandbox, a space where it will be developed to entertain sports, e-sports, gaming, and finance professionals.

More:

  • β€œAt HSBC, we see great potential to create new experiences through emerging platforms, opening up a world of opportunity for our current and future customers and for the communities we serve,” said Suresh Balaji, HSBC’s CMO;
  • Alongside HSBC, brands such as Gucci, Warner Music Group, and Ubisoft have entered into The Sandbox's metaverse.

Are you enjoying this week's NFT Innovation Digest?


New products and ideas

Rarible added Polygon NFTs and multi-wallet support to its NFT marketplace. With the addition, Rarible now supports four chains: Polygon, Ethereum, Tezos, and Flow. The marketplace also launched a multi-wallet profile feature, enabling the use of up to 20 wallets at a time across different blockchains.

More:

  • Along supporting the Polygon chain, Rarible announced a partnership with Polygon Studios, an initiative that funds gaming, NFT, and metaverse projects on the Polygon Network. Polygon Studios will assist Rarible with marketing and development support.

Image: GameStop

GameStop stated in its fiscal fourth-quarter earnings report the intention to launch an NFT marketplace by the end of Q2 2022. On its earnings call, the company said it sees long-term potential in the NFT marketplace.

More:

  • "As we scale and expand our core offerings we will simultaneously invest in additional growth, including blockchain, digital assets (including non-fungible tokens ("NFTs")), Web 3.0 technology, and new destination formats for our stores," said in the filing;
  • In February, GameStop announced a partnership with Immutable X, where the company expects its NFT marketplace to include "billions of low-cost, in-game assets that can easily be bought and sold,".

NFT Artist of the Week - 𝙱Γ₯πš›πš π™Έπš˜πš—πšœπš˜πš—

Our popular Artist of the Week format is back! After the centralized POAP platform repeatedly delayed our weekly art NFT drops - and frankly, in not the finest manner we have to say - we decided to start issuing the NFTs ourselves on Polygon. Sorry for the delay and hope you're as excited about the upcoming artworks as we are 😍.

This week's featured artist is 𝙱Γ₯πš›πš π™Έπš˜πš—πšœπš˜πš—, an OG NFT artist that been creating art since 2012 and entered the NFT space in 2018 with SuperRare. 𝙱Γ₯πš›πš takes a broken tech and inanimate objects then creates beautiful art pieces using technologies such as scanners, glitch effects, VCRs, oscilloscopes, lasers, and artificial intelligence. Below is a selection of his diverse artworks, and this week's exclusive NFTID Artist of the Week NFT drop!

SAGE Anomaly
0:00
/
Death By War
0:00
/
Knight of Plague Vibes
Exclusive NFTID Art Drop

This week's NFTID NFT Drop can be claimed by any address of our newsletter subscribers. If you are a subscriber, leave us your email and wallet address via this Β form. If you're seeing this in an email client and the minting box is not appearing below, visit this issue through our website.

Subscribe to the newsletter


New podcasts and shows

  • Zima Red Podcast: In this episode, Andrew talks to Peter Ing, the founder of Blockchain Space, a platform that allows play-to-earn guilds to scale and operate efficiently;
  • Overpriced JPEGs: In this episode, Carly chats with j1mmy.eth, the founder and CEO of NFT42, about the meaning and importance of on-chain art NFTs;
  • The Crypto Conversation: In this episode, Andy interviews Mark McKenzie, the founder of Megapont, a pixel art NFT project on Stacks, an open-source network of dapps and smart contracts built on Bitcoin.

Save the date

  • 20th - 23rd June: NFT NYC is the leading annual NFT event, don't miss it!

NFT space in numbers

The values below are from 11th-17th March 2022. Source: DappRadar.

Top Marketplaces

Marketplace Blockchain Volume Traders
OpenSea ETH, Polygon $507.74M
-49.61%
182,230
-31.46%
LooksRare ETH $386.53M
-12.16%
3,949
+36.17%
CryptoPunks ETH $30.89M
+236.46%
192
+190.91%
BloctoBay FLOW $17.4M
-3.92%
35,517
-2.33%
Axie Infinity ETH, RONIN $7.94M
-16.96%
76,551
-6.56%

Top Sales

NFT Collection Price
Bored Ape Yacht Club #9135 Bored Ape Yacht Club $599.89k
216.69 WETH
Bored Ape Yacht Club #6016 Bored Ape Yacht Club $522.49k
189 ETH
Bored Ape Yacht Club #4244 Bored Ape Yacht Club $467.3k
169 ETH
Bored Ape Yacht Club #8880 Bored Ape Yacht Club $415.42k
150 ETH
Autoglyphs #460 Autoglyphs $409.73k
148 WETH

Top Collections

Collection Volume Traders Sales
Terraforms* $216.22M
-19.5%
205
-65.31%
380
-56.72%
Meebits* $82.88M
+2.68%
169
+26.12%
274
+37.69%
dotdotdots* $80.45M
-0.86%
101
+21.69%
158
+13.67%
3Landers [NEW] $36.29M
+265.13%
6,037
+47.6%
6,869
+75.72%
Bored Ape Yacht Club $18.46M
-23.09%
135
-11.18%
80
-6.98%
Azuki $12.93M
-55.79%
634
-27.87%
397
-31.2%
Axie Infinity $11.87M
-7.02%
93,494
-3.42%
195,313
-8.47%
CLONE X - X TAKASHI MURAKAMI $11.66M
-3.85%
451
+15.05%
275
+7.84%
NFT Worlds V2 $10.52M
-57.55%
383
-49.74%
267
-54.28%
mfers $8.7M
-63.56%
1,035
-50.88%
858
-56.27%

*Most of the sales in the collection occurred on the LooksRare marketplace and may be a subject of wash trading.


Want to help give this content exposure through a partnership?