6 min read

NFT Innovation Digest #27

New NFT music platform / Yuga Labs teasing BAYC metaverse / GameStop NFT beta goes live
NFT Innovation Digest #27

Cover Art: Orange Is The New Black by Bard Ionson

Most innovative (author's pick)

Image: TokenTraxx

TokenTraxx is an innovative music curation vehicle that is trying to empower musicians and fans. The platform will work directly with the artists and provide tokenized songs, albums, and merchandise controlled by the creators.

More:

  • TokenTraxx launched its native $TRAXX utility token on March 21. The token will be the economic base of the music platform. On March 28 the open beta of the platform will go live.
  • “Our mission is to empower artists to easily tokenize songs, albums, and merchandise, thereby revolutionizing the way fans engage with the artists they love” – Co-Founder, Miles Leonard.

Most discussed

Image: Yuga Labs

Yuga Labs posted a trailer on Twitter teasing the rumored BAYC gaming experience "Otherside", created in partnership with Animoca Brands. The trailer features other popular NFT projects such as CryptoPunks, CrypToadz, World of Women, Meebits, Cool Cats, and Nouns.

More:

  • APECoin will serve as the underlying currency for Yuga Labs' metaverse and marketplace and other transaction points.

Image: Bored Ape Yacht Club

Bored Apes from the NFTX vault were borrowed to claim $1.1M of APECoin. The unknown user took a flash loan to borrow five apes while claiming the airdrop and repaying the NFTs in a single transaction.

More:

  • APECoin was not airdropped based on a snapshot of the BAYC holders, enabling anyone holding the NFT to claim the airdrop.

Mainstream adoption

Image: TIME

Time magazine released its first full magazine issue as an NFT. The issue featured Ethereum's co-founder Vitalik Buterin. The NFTs were airdropped to select TIMEPiece holders and genesis LIT community wallet holders.

More:

  • The issue will be hosted through a decentralized protocol that will enable holders to read the magazine in its entirety as an interactive NFT;
  • TIME also announced that it hired its first-ever VP of Web3 Operations, Will Ban. The role will be focused on operationalizing the publication’s Web3 vision.

Image: Bored Ape #5537

Universal Music's Web3 label, 10:22PM, has acquired Bored Ape #5537 for 125 ETH (~$360,000). Ape #5537 will serve as the manager for 10:22PM's virtual band, Kingship.

More:

  • Kingship will produce music and participate in virtual concerts in the Metaverse;
  • The band consists of four virtual characters, one mutant ape and three bored apes, all from the collector Jimmy McNelis’ personal holdings.

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New products and ideas

Image: GameStop

Video game retailer GameStop launched the beta version of its NFT marketplace on the Ethereum Layer 2 Loopring. Users can set up their profiles, make deposits to Loopring, and be prepared for the marketplace launch soon.

More:

  • Along with Loopring, the marketplace will support Immutable X, another Ethereum scaling solution, while GameStop also announced a $100 million token incentive fund for game developers.

Image: PUBG

The game studio behind PUBG game series, Krafton, will develop games on the Solana blockchain. Krafton has partnered with Solana Labs with plans to work together to develop and market NFT-driven games on Solana.

More:

  • PUBG has generated over $7 billion in revenue to date via in-game purchases. Krafton has not yet announced if it's going to bring the successful franchise to Web3;
  • “Krafton will continuously see ways to work closely with blockchain companies like Solana Labs as we work toward establishing our Web 3.0 ecosystem,” said Hyungchul Park, Krafton’s Lead of Web 3.0 Roundtable.

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New podcasts and shows

  • FTX Podcast: In this episode, Tristan Yver talks to the Parallel team, a Sci-Fi Trading Card Game that uses NFTs to give players ownership of their cards and other game assets. The episode covers Parallel's genesis and lore, its game design, mechanics, and play-to-earn economies;
  • Proof Podcast: In this episode, Tyler Hobbs, one of the most famous Art Blocks artists, walks Ryan Carson through his creative process for the photorealistic generative image of "Wall" in Grails by Proof Collective;
  • The Delphi Podcast: In this episode, Renz Chong, CEO of BreederDAO, an NFT asset factory for blockchain games explains BreederDAO's business model, $BREED tokenomics, and critiques of the guild model and guilds.

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 18th-25th 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 #3250 Bored Ape Yacht Club $720.43k
250 ETH
Bored Ape Yacht Club #5552 Bored Ape Yacht Club $551.73k
188 ETH
Bored Ape Yacht Club #4435 Bored Ape Yacht Club $529.85k
188 ETH
Bored Ape Yacht Club #1289 Bored Ape Yacht Club $512.14k
180 ETH
Bored Ape Yacht Club #9955 Bored Ape Yacht Club $503.55k
180 ETH

Top Collections

Collection Volume Traders Sales
Terraforms* $216.22M
-19.5%
205
-65.31%
380
-56.72%
Meebits* $100.96M
+28.01%
1,670
+943.75%
1,865
+631.37%
3Landers $36.29M
+265.13%
6,037
+47.6%
6,869
+75.72%
Bored Ape Yacht Club $33.88M
+191.48%
238
+190.24%
154
+250%
CryptoPunks $29.89M
+236.16%
185
+236.36%
144
+234.88%
Mutant Ape Yacht Club $15.18M
+64.12%
543
+97.45%
339
+92.61%
Azuki $12.93M
-55.79%
634
-27.87%
397
-31.2%
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%
Axie Infinity $8.65M
-29.3%
80,820
-7.95%
170,316
-15.37%

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


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