Weekly Web3 Review (November 21–27, 2022)
Although the FTX collapse may have created a drop in enthusiasm for many players in the Web3 space, there were still a few events that have shown that all hope is not lost. In this episode of our Web3 Roundup, we highlight some key events that took place last week.
Chainlink Labs joins forces with Landvault to build on the Metaverse
Two key players in the sector, Chainlink and Landvault have partnered to build real estate on the metaverse. According to Kate Lane, Partnerships at Chainlink Labs, this collaboration would take advantage of Chainlink Lab’s industry-standard oracle solutions and LandVault’s proprietary technology and tools.
GTA Bans Users From Using Crypto and NFTs
Although cryptocurrencies and NFTs have been a huge part of the user experience on previous GTA servers, the game publishing company, TakeTwo has announced that its GTA Five users will no longer be able to use these assets. According to an updated policy by the company, the purpose of this is to ensure that their servers “will continue to thrive in a safe and friendly way for many years to come.”
Mattel Launches its own NFT Marketplace
Mattel, the American dolls and games manufacturer has announced that it will launch its digital collectibles marketplace, the Mattel Creations portal on the Flow blockchain. As per its press release, the company will allow users to buy these NFTs without an insistence on cryptocurrencies. The first launch on the Mattel Creations Digital Collectibles Marketplace will be Series 4 of the Hot Wheels NFT Garage, which will comprise artwork featuring 60 cars from brands like McLaren, Aston Martin, and more. All of these are part of Mattel’s move to convert its IP rights into digital art.
Magic Eden Integrates Polygon NFTs to Create Expansion
Having already built a structure that allows its gaming community to use Ethereum and Solana-based NFTs, Magic Eden has now announced that it will begin to support NFTs built on the Polygon network. Based on comments by Zhuoxun Yin, co-founder and chief operating officer of Magic Eden to Techcrunch, this decision is influenced by Polygon’s low gas fees and EVM compatibility. As such, it would be beneficial for developers building on Polygon to take advantage of the buzzing marketplace that Magic Eden has.
Reebok Finds Its Way into the Metaverse
After successfully partnering with famous American rapper and artist Nast to launch a unique NFT collection in 2021, Reebok has filed two trademark applications for its name in the metaverse and the NFT space. The clothing and footwear manufacturer aims to tap into Web3 technology to offer virtual commodities, NFTs, and retail store services to the growing number of users of Web3 technology.
Pepsi Giving out NFT Gifts To Indian Customers
In a challenge called the #PepsiBlackeffect challenge, Pepsi has partnered with illustrator Timea Balo to create an NFT collection that consists of 20 winnable NFTs minted on the Polygon blockchain. The drinks manufacturer, through a post, mention that this collection will focus on the class Pepsi Black ‘Zero’ visual while implementing seven themes — fashion, dance, environment, music, social, creativity, and games — while focusing on progression. To win one of these NFTs that will be listed on OpenSea, customers are expected to post a four-portrait collage of themselves via Moj’s Pepsi Black lens feature.
XRPL Punks NFT collection Sets New Record in Ripple Sales
In a tweet, it has been announced that one of the hottest NFT collections on the XRP Ledger, the XRPL Punks collection hit a new milestone for the XRP Ledger. A collectible in this collection which was named after the famous CryptoPunks collection was sold for a staggering 108,900 XRP, which is equivalent and worth $44,000. The NFT, Xpunk #8811 is said to have been sold in an auction to someone who is well-known within the XRPL Punks community. With this trade, Xpunks have now traded a total of 1.78 million XRPs so far.
Every week, the UhuruNFT team will be bringing you up to speed with a rundown of all the latest happening in the Web3 space, especially the NFT world. If you’d like to be a part of our growing community of digital art enthusiasts and lovers of black history, follow us on Instagram, Twitter, and Discord. We are joining hands to promote the advancement and adoption of Web3 technology in Africa while building a world that promotes the black history and celebrates African excellence.