NFT Innovation Digest #51

Cover artwork: Skies_2 by Julian Brangold.

Most innovative (author's pick)

Fair.xyz have launched Minter Tokens: Soulbound Tokens (meaning they are non-transferable, unlike traditional NFTs) that recognise the original minters of projects. They were developed with support from Fair.xyz's investors OpenSea, and are free to mint (although gas fees apply).

More:

• The tokens display a 3D rendered asset of the originally minted NFT and are a way for people to prove their involvement and early support of projects and artists, even if they have since sold the NFT.

New products and ideas

Brave (a secure and privacy-centric browser) and Unstoppable Domains have deepened their existing integrations, with support added for many more domains beyond the current .crypto, including .nft, .x, .wallet, .bitcoin, .blockchain, and .dao. This means that more than 2 million Unstoppable domains can now be used to display decentralized websites in Brave.

More:

• So far, nearly 30,000 websites have been created using an Unstoppable domain.
• Sandy Carter, SVP and Channel Chief of Unstoppable Domains, commented that “Web3 is the future, and with Brave, we’re expanding access to the decentralized Web and giving people more ways to build their identity online. Brave’s Web3-ready browser makes it possible to build websites that are fully owned by people, not rented from big tech companies.”

Sky Mavis, the creators of popular play-to-earn NFT game Axie Infinity, have partnered with Google Cloud to help secure the Ronin Network, an Ethereum sidechain built specifically for Axie Infinity but which suffered a $650M hack earlier this year. Google Cloud will run and oversee a validator node on the Ronin network.

More:

• According to Sky Mavis Co-Founder Aleksander Larsen: “Google Cloud, which sits at the intersection of being a recognized contributor to the developer community and having deep technical expertise in blockchain infrastructure and running validators, was naturally one of the top choices... welcoming them now as Ronin’s latest and 18th validator is a big deal for us, especially as we push toward our initial goal of having 21 independent validators securing the network.”

Mainstream adoption

Sports brand Puma has announced Black Station: their first Metaverse experience. It was unveiled during New York Fashion Week and is positioned as an "immersive and interactive place to experience the future of the brand". Accessible since September 7th, the experience features NFTs linked to limited edition physical sneakers and never-seen-before designs.

More:

• Those who minted PUMA's recent NFT Nitropass can receive two NFTs – one tied to physical products and one that unlocks a customized experience linked to their chosen shoe.
• This launch comes in light of recent data showing competitor Nike has earned nearly $184M through NFT products to date.

On September 5th, electronics giant LG launched its LG Art Lab marketplace for US-based customers, designed for users to be able to buy, sell, and display NFTs on their TV. The first art drop from LG Art lab will be from sculptor Barry X Ball.

More:

• After testing it on her own TV, The Verge journalist Emma Roth did not rate the offering so far, concluding "there’s not much going on there yet".
• LG partnered with the Hedera for this project, an enterprise-focused blockchain with fixed fees. Minting an NFT collection on the network costs $1, minting a single token costs $0.05, and token transfers are priced at $0.001.

In a national first, the Japanese government (specifically the Cabinet Secretariat) has rewarded seven mayors with NFTs in recognition of their excellent use of digital technology to solve local challenges. They were handed out at the “Summer Digi Denkoshien 2022” ceremony, attended by Prime Minister Fumio Kishida.

More:

• They chose to deliver non-transferable proof of attendance protocols (POAPs) on the Ethereum blockchain.

Most discussed

A final artwork auction is being held by QueenE, an Ethereum-based NFT project that launched in July 2022 and has so far released 73 artworks based on Queen Elizabeth II (who passed away on September 8th). Based on the format and code of Nouns, the aim was always to produce new artworks until the end of the Queen's life.

More:

• A huge number of other Queen Elizabeth II-related NFTs have flooded the space today in light of the news.

Major Metaverse platform The Sandbox's Instagram account was hacked on September 8th, with a malicious link posted in its bio to a supposed raffle giveaway. Co-founder Sebastien Borget also revealed that the hackers tried to rent BAYC NFTs via Instagram messages for 40 ETH for 24 hours.

More:

• According to The Sandbox, its 2FA and other security measures were bypassed and a security review in collaboration with Instagram is underway.

Recommended reading

• How to add Arbitrum to MetaMask?: This step-by-step guide from Emi Lacapra for Coin Telegraph explains why and how to add the Ethereum Layer 2 network Arbitrum in MetaMask.
• An Interview with Olafur Eliasson: The Icelandic-Danish artist talks to the Art Newspaper about his new VR and NFT work, commissioned by MetaKovan (aka Vignesh Sundaresan - the notable purchaser of Beeple's Everyday: The First 5000 Days).

New podcasts and shows

• Podcast 1: In this episode of Overpriced JPEGs, Carly is joined by Ian Rogers, the Chief Experience Officer at Ledger, to discuss security solutions and misconceptions in the space and Ledger's future plans;
• Podcast 2: In this episode of The Delphi Podcast, we hear from crypto lawyers Gabe and Sarah about the realities of their work and their insights into the CFTC jurisdiction on regulating digital commodities.

Save the date

• 17 - 18 September 2022: NFT Show Europe takes place in Valencia, Spain
• 3-4 November 2022: NFT.LONDON (brought to you by NFT.NYC) takes place in London, UK

NFT space in numbers

The values below are from 3 - 9 September. Source: DappRadar.

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