7 min read

NFT Innovation Digest #42

University of Surrey announces an unprecedented Metaverse research academy with £1M in funding / British Army social media accounts hacked and used to promote NFT projects / Reddit launch Collectible Avatar marketplace
NFT Innovation Digest #42

Cover: Running Moon by Licia He

Most innovative (author's pick)

Image: University of Surrey

The University of Surrey in the UK announces the creation of an unprecedented academy dedicated to researching and developing new applications for Metaverse and blockchain technologies.

More:

  • The academy will be possible thanks to a £1 million donation from JKL Capital and Maxity, an NFT art marketplace dedicated to supporting charities and NGOs.
  • The academy will also prioritise training students, staff and local businesses in order to help them maximise the opportunities of Web3.

Most discussed

Image: British Army

The British Army's Twitter and YouTube accounts were hacked on Sunday and used to promote several NFT projects and pro-crypto videos.

More:

  • The Army's Twitter name was changed to 'Bapesclan' and featured one of the NFT group's cartoon monkeys as its new profile picture. The description read "#1 metavestor clan on the ETH chain with multi-billion dollar experience. Powered by @chaintchlabs."
  • The Army's YouTube account was renamed Ark Invest and posted interviews with Elon Musk and Jack Dorsey which some claim directed users towards Bitcoin and Ethereum scams.
  • The Army later tweeted an apology for 'the temporary interruption to our feed' and confirmed an investigation would ensue.

The ENS domain 000.eth sold for 300 ETH ($320,000) this week, becoming the second most valuable asset of its kind according to analytics platform NFTGO.

More:

  • The highest-value ENS asset sale remains 'paradigm.eth', which sold for 420 ETH in October 2021 - worth $1.5M at the time.
  • This latest sale follows months of hype for numerical domain names - with numbers between 0 and 9999 proving particularly popular as they enable entry to the exclusive '10kclub' Discord server.

Mainstream adoption

The UAE announces the launch of The Medical Metaverse, its first hospital in the Metaverse. Patients will be able to visit using avatars and interact with doctors.

More:

  • Healthcare provider Thumbay Group will manage the hospital and expect it to be fully operational by October 2022.
  • The consultation fees are currently unknown, but a spokesperson for the company suggested they would be 'in line with the teleconsultation fee charged by the healthcare operator'.

Image: Warba Bank

Warba Bank, headquartered in Kuwait, becomes the first Islamic bank to move into the Metaverse. Warba has purchased sites in The Sandbox and Decentraland and hopes to attract more young customers.

More:

  • According to Anwar Bader Al-Ghaith, the bank's VP for Support Services and Treasury, "The world of virtual reality is used in several advanced fields, including services, education, health and others. Warba Bank aims to be close to its clients in virtual reality to introduce its products and services, as well as communicating with them in an innovative way that reflects Warba Bank’s image as a pioneer in digital transformation."

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New products and ideas

Image: Reddit

Reddit announces the launch of their new Collectibles Avatar marketplace. Reddit users will be able to purchase fixed-price NFTs hosted on the Polygon blockchain and customize them.

More:

  • 87 different avatars will be made available in the first batch, alongside digital wallets for storage.
  • At the moment, there will not be a crypto payment option and the NFTs cannot be listed on secondary market places.

Image: LimeWire

LimeWire, previously a popular peer-to-peer file-sharing site, has relaunched as an NFT marketplace with an initial line-up of musical collaborators including Travis Barker, Nicky Jam, Brandy and British rapper Aitch.

More:

  • LimeWire was shut down in 2010 after a court injunction, following findings that 93% of traffic involved the transfer of unauthorized copyright material.
  • Commenting on the new platform, Travis Barker explained: “I have always been interested in Web3 and NFTs so I am pretty stoked to release my first NFT collection and to do it on LimeWire... LimeWire has created a platform that makes exciting content like this accessible to all of my fans – even ones who are unfamiliar with Web3.

Image: Coinbase

Coinbase NFT adds new features, including a 'Liked' tab, a notification hub, a 'Bulk Manage' feature, time-delayed listings and rarity filters.

More:

  • In spite of these new features and the current lack of Coinbase fees, the platform has struggled to attract a significant user base. According to Dune, so far there have only been c.8,000 unique buyers and c.20,000 transactions.

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Save the date

NFT space in numbers

The values below are from 9 July - 15 July. Source: DappRadar.

Top Marketplaces

Marketplace Blockchain Volume Traders
OpenSea ETH, POL, SOL $109.49M
-15.36%
177,189
-6.86%
Magic Eden SOL $14.7M
-25.21%
78,013
-11.89%
X2Y2 FLOW $13.01M
-1.95%
14,992
14.88%
LooksRare ETH $6.63M
-6.32%
3,659
-12.9%
CryptoPunks ETH $2.76M
-56.81%
53
-40.45%

Top Sales

NFT Collection Price
000.eth Ethereum Name Service (ENS) $316.98k
300 ETH
Bored Ape Yacht Club #7392 Bored Ape Yacht Club $284.45k
240 WETH
Autoglyphs #376 Autoglyphs $280.68k
248.16 ETH
The Ascension of Pak - We are Pak. #117 - $267.37k
250 ETH
Bored Ape Yacht Club #3009 Bored Ape Yacht Club $220.89k
193 WETH

Top Collections

Collection Volume Traders Sales
Terraforms* $43.91M
22.88%
119
3.48%
174
-2.79%
Otherdeed for Otherside $31.24M
-22.46%
2,381
-37.44%
1,890
-47.96%
Chimpers [NEW] $14.08M
-
2,072
-
1,781
-
Bored Ape Yacht Club $11.32M
-44.56%
87
-49.12%
51
-45.74%
Mutant Ape Yacht Club $8M
-45.32%
298
-45.12%
189
-44.57%
Moonbirds Oddities [NEW] $6.62M
-
1,251
-
930
-
CryptoPunks $4.96M
-51.6%
59
-47.32%
36
-56.1%
Bored Ape Chemistry Club $4.93M
125.28%
96
118.18%
54
125%
Moonbirds $4.63M
-45.61%
142
-49.1%
81
-50.31%
Clone X $4.43M
-51.83%
222
-54.32%
144
-50.85%

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


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