NFT Innovation Digest #35

Cover Art: Lose your Mind by K-art

Most innovative (author's pick)

Propy launched a new Web3-enabled Title and Escrow service. The product aims to make closing on an actual property deal quicker, simpler and safer. The service is designed to let actual property patrons close offers rapidly and securely.

More:

• "The technology should bring transactions closer to the 'click-to-close' experience many real estate players have been chasing for years." according to Propy CEO Natalia Karayaneva.

Most discussed

Spotify is testing a new feature that lets artists promote their NFTs. The feature is in a test phase among a small group of artists such as Steve Aoki and the band The Wombats.

More:

• Selected Spotify Android users in the U.S. can preview the NFTs on the artists' pages. By tapping on the NFT, users can view a larger version and a short description;
• By clicking on the "see more" option, users are redirected to the NFT page on OpenSea. Spotify doesn't plan to have its own NFT marketplace, rather it will integrate its NFT features with OpenSea.

Napster was acquired by two Web3 companies: Hivemind and Algorand. The companies plan to bring the peer-to-peer file sharing platform into the Web3 space. Details on the business model for the brand have not been disclosed yet.

More:

• In 2020, the music tech startup Melody VR acquired Napster and planned to launch a music streaming platform combined with immersive virtual content, but the product never went public.

Mainstream adoption

The pop music duo The Chainsmokers released NFTs that grant a percentage of music royalties from their new album "So Far so Good". 5,000 NFTs based on the Polygon blockchain were given out for free on May 17, with a VIP list made up of frequent concert ticket buyers and fans.

More:

• The collection will entitle holders to a collective 1% of the "So Far So Good" royalties, with other perks including early access to events and free merchandise.

Getty Images is going to launch its first NFT collection on the Palm blockchain through Candy Digital. Getty Images will draw from its collection of over 465 million images, with a focus on turning never-before-seen archival works into NFTs.

More:

• The primary and secondary sales will occur on Candy Digital's marketplace.
• “We are proud to work with Candy Digital to expand our offering to the fast-growing global audience of NFT collectors, representing significant opportunities for the company and our global photographer community,” said Getty Images CEO Craig Peters.

New products and ideas

Robinhood announced the development of a non-custodial and multi-chain Web3 wallet compatible with NFTs. Users will be able to store digital assets, withdraw cryptocurrencies from Robinhood, and link to NFT marketplaces.

More:

• Users can join the waitlist to get early access to the Web3 wallet;
• Currently, the wallet is limited by an identity verification process that only supports seven crypto assets: Bitcoin, Bitcoin Cash, Bitcoin SV, Dogecoin, Ether, Ethereum Classic, and Litecoin.

Linktree launched 3 new features focused on Web3. Users can add an OpenSea URL or connect their wallet to display an NFT collection on their Linktree. It is also possible to use NFTs as profile and background pictures on Linktree. Users can also lock links that will only be available for people holding a specific NFT collection.

More:

• “This adds value by extending the core utility of NFTs — verified ownership, monetization, and community. As the number of creators tapping into web3 grows, Linktree provides these creators the tools they need to display their NFTs anywhere they have their Linktree link and to provide exclusive incentives to their community.” Said Linktree CEO Alex Zaccaria.

NFT Artist of the Week - Lilya

We are reissuing the NFTID NFT Drop from our previous Artist of the Week Lilya in our new Polygon NFT format. Lilya is a graphic designer and visual storyteller NFT artist. Lilya's creations represent a mix of photo manipulation, digital art, and drawings in order to express thoughts and metaphors.

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 form.

Recommended reading

• How Web3 is Revolutionizing the Film Industry: This article by Stephen Graves covers projects integrating NFTs and Web3 technologies into the film industry. The integrations range from NFT crowdfunding campaigns to film financing DAOs;
• The Role of NFTs in the Metaverse: This NFT Plazas article explores the most notable use cases for NFTs in the Metaverse.

New podcasts and shows

• The Hash: In this episode, "The Hash" group discusses the Universal Music Group deal with LimeWire for content licensing on a global scale, and also the launch of a16z's first gaming fund targeting the expansion of blockchain gaming;
• Overpriced JPEGs: In this episode, Carly interviews Brenden Mulligan, the founder of PREMINT, a platform that makes it easy to collect a high volume of wallet addresses to use for NFT presales, access rights and more.

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 14th - 20th May. Source: DappRadar.

Top Marketplaces

Top Sales

Top Collections

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