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MetaSavvy
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Everything you need to know about Metaverse in one place.

Selected news and opinionated views on Art, Fashion&Fintech in the digital realm.

#Art #Fashion #Metaverse #AR #VR #NFT #News
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500 NFTs FROM THE CURRENCY COLLECTION (DAMIEN HIRST) WERE SUCCESSFULLY BURNED

The Currency
by Damien Hirst is the artist’s first NFT drop. The Currency is a collection of 10,000 NFTs which correspond to 10,000 unique physical artworks by Damien Hirst. Each physical artwork is numbered, noscriptd, stamped with the Hirst logo and signed by the artist on the back. Additional authenticity features include a watermark, as well as a microdot and a hologram containing a portrait of the artist. Till 27th July 2022, every owner of non-fungible token has to decide either they want to keep NFT or to exchange it for physical work on paper. Exchanged NFTs are destined to be burned, exactly the same rule applies to physical artworks that weren’t exchanged.

It is a 6th month from the first NFT distribution, and only 500 NFTs were burned. Meaning, at this particular moment there are 500 owners of physical artworks, while 9 500 NFTs are circulating in the digital space. It is hard to predict the outcome, but considering the fact that The Currency NFTs are not exactly crypto collectibles, they hardly represent digital identity, and ecosystem around it is far from being strong, we can expect more NFT burnings within the next 6 months. However, most likely it won’t hit even the half of collection, entailing a huge IRL fire on the pile of paper works in July.
ADIDAS ORIGINALS & PRADA LAUNCH AN NFT PROJECT

Two quick reminders before hitting the topic.
Jan. 13, 2022, Adidas and Prada introduced the new chapter of their ongoing collaboration. The exclusive 21-piece collection aimed “to demonstrate a relentless commitment to environmentally-conscious innovation with a selection of clean and sharp silhouettes, meticulously crafted in Italy by Prada artisans”Adidas

Basically, the main deal is that entire collection is crafted from Prada’s signature Re-Nylon fabric, an infinitely-recyclable blend of repurposed plastic waste (brand’s recently-established proud alternative for the virgin nylon), and that collection obtained a streetwear connotation through the expertise of Adidas Originals. It is not a secret that many luxury brands realize the importance of the streetwear culture (alongside new tech developments) and the fact that without incorporating it, their business model won’t cover the growing demand from upcoming generation of consumers. Therefore, Prada decided to make two friends with one gift: to have a streetwear and NFT in one pack.

Reminder #2.
In December 2021, Adidas launched their debut NFT project noscriptd Into the Metaverse. Edition of 30,000 nonfungible tokens was created in collaboration with gmoney, PUNKS Comic and Bored Ape Yacht Club. Multibranded series of digital collectibles attracted quite a number of crypto-believers and fancy monkeys’ admirers. Ongoing project envisions 4 phases, offering exclusive physical merchandise and prolonged digital utility to NFT holders. During defined time periods in 2022, NFT holders have a chance to redeem physical merchandise by verifying token ownership. When one claims a physical product, their NFT is burned. In return, they receive an exclusive physical product and a replacement NFT with an increased phase number. Same procedure repeats for 3 times until the final product redemption period, when participants have to burn their Phase 3 (ERC-1155) token and receive a Phase 4 (ERC-721) token in exchange. This final token cannot be exchanged for physical product. Note: as you might guess, everything happens on Ethereum blockchain.

And finally, {ADIDAS: PRADA, RE – SOURCE}
Adidas for Prada Re-Source is a digital art creation project comprising 3,000 individual tiles created by the community. This culminates in a final artwork canvas designed by digital artist Zach Lieberman, with revenue shared between all contributors and Slow Factory, a non-profit organization.

To participate in the project, one should create a digital image, join the waitlist and to mint it on the Polygon, an Ethereum-compatible network. There will be no gas fees for participants. After Jan 25th, Zach Lieberman will “curate” and combine 3,000 tiles in one final piece to be auctioned on SuperRare from Jan 28, 2022. Note: the final NFT artwork is an Ethereum mainnet ERC-721 token. The proceeds from the auction sale will be split, with 80% donated to Slow Factory, 5% to Zach Lieberman, and 15% shared between all participants who created a tile.

It's not too long till we see the final artwork. But is it exciting? – most definitely not. The efforts from Adidas Original and Prada are surely appreciated, yet there’s not much innovation in here. NFT artwork composed of 3,000 accidental images… Well, we don’t want to bother even mentioning that name. Prada and Adidas are both well-known for their brave experimentations at the crossroads of industries. Therefore, much more is expected from their side. Self-proclaimed “first-of-its-kind open-Metaverse&user-generated NFT project”, Re-Source seems to be overly simple and fairly plain. However, royalties for community and Slow Factory support is definitely something that should be praised.
And what do you think on this matter? Join discussion on twitter.
LAMBORGHINI ANNOUNCES ITS FIRST NFT COLLECTION

Italian supercar manufacturer Lamborghini has revealed that it has partnered with Swiss artist Fabian Oefner in order to create its drop of non-fungible tokens noscriptd Space Key.

In 2019, Lamborghini sent a sample of carbon fiber materials to the International Space Station (ISS) in order to determine the effects of cosmic radiation. Now that the luxury carmaker has received the material back, the company decided to use it to create an art collection that is comprised of five "space keys."

Each small piece of carbon fiber is accompanied by its own NFT. Oefner engraved QR codes in the physical items in order to link them to their digital components.

So far, there is no information regarding when the drop will be available for sale.

AlexMorris, U.Today

#quicknews
GREYSCALE REVEALED THE LIST OF THEIR POTENTIAL INVESTMENTS

Grayscale, one of the largest digital assets manager, demonstrated a great interest in some particular crypto assets.

Assets Under Consideration lists some digital assets that are not currently included in a Grayscale investment product, but that have come to its attention as part of exploration of this sector, and that Grayscale team has identified as possible candidates for inclusion in a future investment product.

Interestingly, metaverse & GameFi tokens received quite a portion of attention from Greyscale. Among 35 potential investments there are Axie Infinity (AXS), Enjin (ENJ), Gala (GALA), The Sandbox (SAND), and Yield Guild Games (YGG).

Although Greyscale notes that not every asset under consideration will be turned into one of their investment products, we can clearly see that their interest in Metaverse and gaming is reaching far beyond their all-time favorite Decentraland.
NETVRK UNLOCKED ITS LAND NFTS FOR SALE

Netvrk is a social Virtual Reality platform on the blockchain and it promises a plethora of possibilities for its users. After NFT unlocking event on Jan 25, Netvrk Metaverse Land now is in the top 15 trending NFT collections in volume on OpenSea (surpassing 1000 in $ETH volume, at the time of writing).

Surely, with a growing interest to the virtual land in general, it is not surprising that among the digital assets proposed by Netvrk (Transport, Avatars, Bonuses), Land attracted the biggest attention.

Entire Netvrk metaverse is presented in 5 districts: Entertainment, Creative, Education, Business, and Adult. Therefore, besides the main center of this universe, each district has its own center of some sort. It seems like different districts also obtained a slightly different geography which makes Netvrk metaverse akin to real world. Of course, practically it’s not very important since users are welcomed to create their own worlds (with their own characteristics). Yet, symbolically, it makes a lot of sense, because one of the special features of Netvrk is its physics: elements, created within the Netvrk virtual space, have physical attributes such as gravity, weight or breakability, so users can interact with created virtual space as if it was IRL.

Further developments in this field could facilitate faster adoption of Netvrk metaverse. Immersive quality of Netvrk virtual reality alongside its possibility to provide near-to-real-life conditions for trainings (tryouts, or bench tests) could bring Netvrk to the top. But can it beat the hype around Decentraland & Sandbox (enhanced by mainstream brands, celebrities and investors) in the nearest future?
"I think the underlying value of clothing that you would wear to a meeting or a concert or whatever—wearing some cool clothes that you bought from a designer—is similar to the value of buying clothes in the real world. Right now, because of the speculative, tulip-bulb type thing going on, it’s impossible to separate the speculative noise from the value of the underlying assets. But if you ask what is the actual value of a digital painting that you can hang on your wall in your digital house, or a digital pair of shoes you can wear on your avatar? I think Second Life provides at least some guidance, which is to say that the value of those things is, sensibly, lower than it is in real life, but it's certainly not zero. " - Philip Rosedale

Full interview with Second Life creator Philip Rosedale on WIRED (by Gilad Edelman)
APPLE DEMONSTRATES AN INTEREST IN METAVERSE

Time Cook
, Apple CEO, said that Metaverse applications have a lot of potential and that his company is investing in AR developments on its devices.

Cook pointed out that Apple (APPL) already has a bevy of 14,000 apps on its App Store that have been designed using the AR developer platform ARKit. Apps designed using ARKit could help users gain access to the Metaverse.

Brian Newar, Cointelegraph
#quicknews
NIKE CONTINUES TO MAKE ITS WAY TO THE METAVERSE

It started in Dec 2021, when NIKE Inc. acquired RTFKT, a virtual shoe company that operates within the twilight zone between fashion and gaming.

However, creation of digital shoes "for the Metaverse" is not enough for Nike. It looks as though Nike is preparing to enter the metaverse, as the fashion giant is looking to hire at least five metaverse specialists.

According to the job denoscription, director of metaverse engineering will “lead the development of rapid end-to-end proof of concepts, prototypes, and production of metaverse software and device solutions…for use within Nike, as part of existing Nike products, and for new lines of business” - NME

The company is also looking to fill four other metaverse-related roles, including a senior 3D game designer, metaverse engineer, a program manager specializing in Blockchain, and a virtual material designer.

That seems like a lot of plans..

NME
#quicknews
TAKASHI MURAKAMI FINALLY ANNOUNCES RELEASE OF HIS PERSONAL NFT PROJECT

Murakami.Flowers NFT project will be released in Feb 2022.

Resembling famous NFT collectibles such as CryptoPunks, Murakami.Flowers appears as a collection of pixelated characters (flowers) that have slightly different trait values (color, background, facial expression, etc.) which relatively determine their rarity.

Initially, 108 images of collection noscriptd Murakami.Flowers were released on OpenSea back in March 2021 but the project was abruptly cancelled in April. The reason was that it seemed as though the interests in the NFT at auctions were concentrated only on the numbers game, and Takashi Murakami found himself “overly concerned about the market trends than about NFT's creative potential”. Therefore, artist decided to take time and learn more about the possibilities of non-fungibility.

In Dec 2021, Murakami-sama had a chance to learn it by doing. He agreed to cooperate with RTFKT and this unusual (yet very natural) combo resulted in extremely popular Clone X project.

Once again, the overall aura around NFT seems quite suitable for Murakami’s practice, conceptually. However, will Murakami.Flowers reflect the creative potential of NFTs?
A BATHING APE ANNOUNCES THE LAUNCH OF (B)APETAVERSE

A Bathing Ape
(aka BAPE), one of the most influential Japanese streetwear brands, was founded by Nigo (Tomoaki Nagao) in 1993.

Despite its sucess, in 2013, Nigo officially departed from BAPE. In Sep 2021, after many years of pioneering the streetwear, he has been appointed as an artistic director of Kenzo.

In early 90’s BAPE became a crucial part of the new culture, embodying the connections between streetwear, hip hop and visual art. Jun Takahashi (Undercover), UNKLE, Pharrell Williams, Adidas, and KAWS are just a few names within the list of BAPE’s collaborators.

Today, Jan 2022, A Bathing Ape introduced (B)APETAVERSE, BAPE’s very own NFT community for most dedicated fans.

Classically, BAPE’s first drop will consist of 10,000 unique NFTs that will grant the access to “exclusive BAPE contents in a world of limitless possibilities”. And it goes without saying, NFTs containing the imagery of apes proved to be quite successful.

Meanwhile, the fun fact. A BAPE’s name, accordingly to Nigo, pays respect to founder’s love to science fiction and Planet of the Apes (1968 movie), in particular. It is also a reference to a Japanese phrase “A bathing ape in lukewarm water”, describing a spoiled kid who has an easy, comfortable life. If only crypto non-believers knew the phrase, they would definitely use it against all the crypto enthusiasts. Perhaps, after the drop, huh?
TODAY IS THE DAY FOR A #SUPERGUCCI DROP

Later today we will finally see the long-awaited results of collaboration between luxury fashion house Gucci and Superplastic, the leading creator of animated celebrities, vinyl and digital collectibles (including limited-edition designer toys and apparel).

SUPERGUCCI is a collection of 500 NFTs co-created by Gucci's head of design Alessandro Michele and Superplastic’s animated celebrities Janky & Guggimon. Each NFT incorporates classic Gucci patterns, and comes with an exclusive 8-inch tall white ceramic SUPERGUCCI SuperJanky sculpture, hand-crafted by Gucci’s own ceramicists in Italy.

For the 3-part series of NFTs each with their own handcrafted porcelain sculpture, Superplastic’s synthetic artists Janky and Guggimon combine their digital style with the House’s historic codes. In the first release, the famous SuperJanky figure finds itself within ten different whimsical scenarios inspired by Gucci Aria.

This first collection dropping on Feb 1, 10AM ET will be available on Superplastic via Gucci Vault.

The owners of Superplastic NFT (CryptoJanky or Headtripz) will have an exclusive early access to the drop (146 NFTs available).

SUPERGUCCI NFTs will be priced at 1.5 ETH per NFT (which is $4200 at the time of writing).

20 of the 500 SUPERGUCCI NFTs are reserved by Gucci and Superplastic, bringing the number of available NFTs for sale to 480 in total.