Updates

Interesting NFT stories dominate this week’s news along with Metaverse funding and crypto progress in Brazil.

It’s an important week in Miami for both physical art as well as NFTs. Web3 has become a massive part of Art Miami, America’s foremost contemporary and modern art fair.

The festival has been transformed in recent years by the increasing presence of tech and web3. Side events dedicated to NFTs continue to spring up around the city. In addition to collecting individualised NFTs, it’s an opportunity to explore other tech advancements.

Just a few examples include Art Basel Miami Beach’s project that has visitors minting NFTs in real-time, enabled by Tezos. Then there’s “The Gateway: A Web3 Metropolis”, launched by nft now, Mana Common, and MoonPay, which spans two city blocks. Participants can also test out the new decentralised ride-sharing application Teleport with $1 rides. The busy art fair has become a notable hub for web3 conferences, exhibits, and networking.

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Uniswap has launched its NFT aggregator where traders will be able to swap NFTs listed across other marketplaces all in one marketplace.

The aggregator is meant to streamline listings, making them easier to find and offer better pricing. As part of the launch, Uniswap is airdropping approximately 5 million USDC to certain historical Genie users. They’re also offering gas rebates to the first 22,000 NFT users.

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Porsche has announced its entrance into web3 to expand the appeal of its sports cars into the digital world. The luxury sports car brand’s first project will be a 7,500-piece NFT collection designed by 3D artist Patrick Vogel. The collection will be based on the classic Porsche 911 and is set for a January 2023 release.

In addition to helping shape the aesthetic of their NFT, owners will also get exclusive access to experiences in the virtual and real world. The company says it’s also working to integrate blockchain technologies into its existing and future processes.

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Following in the footsteps of brands like Tiffany & Co., Timex has announced plans to make 500 watches for Bored Ape Yacht Club and Mutant Ape Yacht Club holders, decorated with their NFTs.

It follows a similar project by Tiffany & Co. for CryptoPunk holders earlier this year.

Holders of brands from Yuga Labs own the licensing rights to their NFTs, which has opened the door to a whole host of commercial collaborations.

Each of the 500 watches and its digital twin will be personalised with the holder’s NFT.

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Sotheby’s Completes $129k Sale Of Rare Pudgy Penguin NFTs

Sotheby’s isn’t just the premier destination for auctions and private sales of art, jewellery, and other physical objects. These days, the auction house is no stranger to NFTs. The rare Pudgy Penguins NFTs sold for an average of $12,900 each.

Davis Brown, Sotheby’s head of sale for this auction, said it had "consistently seen strong participation across our NFT sales in recent months, irrespective of market conditions."

Sotheby’s sold over $100 million in NFT sales last year.

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NFT and gaming investor Animoca Brands plans to heavily invest in metaverse businesses, announcing a fund worth up to $2 billion. The fund, called Animoca Capital, will focus on digital property rights. Animoca will make its first investment next year.

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After 7 years, Brazil's Chamber of Deputies voted on Tuesday to pass on a crypto regulation bill to the president, Jair Bolsonaro. The long-awaited crypto bill could reach Bolsonaro’s desk just before the final date of his term, which ends on December 31st.

The crypto regulation bill is to define digital assets and their service providers, and to help guard against money laundering and fraud.

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NFA DYOR (Not financial advice. Do your own research.)