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Thanks to digital art and PFP projects, NFTs have grown in mainstream popularity to become somewhat of a pop culture phenomen. However the concept of non-fungible tokens goes far beyond these two use cases and can be explored in several formats. Here are a few of them.
Thanks to the internet, the web3 online community grows with each passing day with creators, collectors and enthusiasts. The problem, however, is that many come into the space out of fear of missing out and end up overwhelmed with the exclusive lingo and constantly evolving information. Language is a key tool for networking. It is what separates an active participant from a birdwatcher and what eventually fuels your growth in the community.
Less than six months after his controversial (and as usual, long deleted) Instagram post that read “don’t fucking talk to me about NFTs”, Kanye West joined the growing list of celebrities who have filed trademark applications for NFTs in the past year.
A few weeks ago, popular social platform Reddit launched the first cohort of its Collectible Avatars Creator Program and the corresponding Collectible Avatar Marketplace. For many creators, this was yet another marketing move by big corporations to ride the NFT wave but for abstract line artist, Tyler Foust, Reddit was a stage that would usher in more exposure and appreciation for his art.
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Before he became THE Beeple, 40-year-old Mike Winkelmann was a computer-science-grad-turned-digital artist selling art prints for as little as $100. A few years later, Winkelmann will be known globally as Beeple, the third-most expensive living artist whose artwork sold for $69 million as an NFT at a Christie’s auction. He would be a global sensation; his sale was the beginning of an artistic revolution and, some would say, a historical inflection point.
Insider trading in emerging investment ecosystems is no new concept. In the early days of the printing press, iron ore trading, and Wall Street stock markets, people profited off their proximity to proprietary knowledge. Unsurprisingly, the NFT space is not insulated from this trend. And for the first time, a digital asset insider trading scheme is set for trial. Nathaniel "Nate" Chastain, 31, faces up to 40 years in prison after earning $65,000 through insider trading on OpenSea.
McLaren’s golden standard has been “combining performance, innovation, and craft to deliver the art of the impossible”. Building on this standard was its MSO Lab: the web3 brainchild of their Special Operations Division, created to explore the future of performance in a digital realm. McLaren will also be releasing its very first MSO LAB owner public airdrop, providing limited spots for an exclusive physical McLaren experience. No date has been communicated yet for this. However, with the success of the MSO Lab Genesis Collection, there is no denying that there is an exciting future ahead in the metaverse for the automobile company.
