Alibaba says “Open Sesame” to Web3
This week, major Web2 institutions launched new tools to bring Web3 to the masses. China’s tech behemoth Alibaba announced a metaverse brand launch platform called Cloudverse built on the Avalanche blockchain, while Sports Illustrated released a non-fungible token ticket platform on the Polygon network.
Meanwhile, Sotheby’s launched a secondary art marketplace, which allows NFT collectors to trade among themselves, while creating royalties at the forefront.
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This week’s alpha
Alibaba’s Cloudverse: Chinese tech giant Alibaba has built a launch platform for brands to release metaverse experiences built on the Avalanche blockchain. Called Cloudverse, the launch pad will use Avalanche’s technology and Alibaba’s Cloud division for computing and storage.
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Fast builds for brands: The initiative aims to be a turnkey system for brands that will make it easier for them to engage with Web3 and expand the customer experience.
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On board billions: The combined annual active consumers of Alibaba Group’s consumer-facing businesses in China are said to be over 1 billion, creating a potentially huge opportunity to integrate many users and brands into Web3.
SI tickets: The Sports Illustrated publication is launching an NFT ticketing platform built on the Polygon blockchain. SI Tickets will allow owners, promoters and organizers of events to use the “Box Office” feature to build additional fan engagement opportunities.
Sotheby’s enters the secondary market: Art auction house Sotheby’s, which has enthusiastically embraced Web3 technology through its Sotheby’s Metaverse platform, is launching a specially curated, peer-to-peer secondary marketplace for digital art.
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Artists first: The complete on-chain sales system will offer direct transactions between collectors and will honor royalties to creators through smart contracts built into the platform. “Sotheby’s commitment to honor artist royalties comes amid a larger debate about royalties in the NFT community, and signals Sotheby’s artist-first ethos as one of the only major NFT marketplaces committed to artist resale royalties,” it said in a press release.
Projects on the way up
Big Inc
WHO: Truth Labs, creators of the NFT project Goblintown
What: An unlikely success story in the form of a 9,999-issue NFT collection, Goblintown is getting a sequel called Big Inc, further expanding the goblin story. The new collection of 15,000 issues will prioritize collectors based on their “rect activity”, or bad trades in the NFT space.
How: Interested collectors can apply to the mint and Truth Labs will analyze wallet data to determine the quality of a trader’s transactions. This will place traders on the “Down Bad Board”, or the leader board of the worst traders in the area. The 1000 worst traders in the NFT space will have 24 hours to create their Big Inc endorsement letter for free.
Mint participants can pay 0.096 ether or get 50% discount by paying with meme coin pepe. The company has not announced a date or time for the mint.
In other news
Token-gated kicks: Web3 experience company Tokenproof has announced a three-year deal with Adidas to bring token-gated drops and experiences to the footwear giant’s Confirmed app.
Bernard Arnault’s Secret NFTs: The world’s richest person and founder of LVMH has been quietly collecting NFTs, according to Ledger’s Ian Rogers.
“Shark Tank” + Web3 = “Orcas”: CoinMarketCap and Hello Labs are teaming up to produce a “Shark Tank”-style reality competition show, but for Web3 companies to pitch their ideas for funding.
Many achieve this by: It’s been a year since this tweet graced our timelines:
Non-functioning tool kit
Meme Coins: What You Need to Know Before Entering
The latest meme coin craze has expanded beyond the dog world and into frogs with pepecoin (PEPE), a token that takes its name from the internet meme Pepe the Frog. Just a short time after the token’s launch, a whale had over $1 million in PEPE, which was done with just a small initial investment of 0.19 ETH (about $385). These kinds of stories of exponential growth in value often attract new investors to meme coins, but buyer beware: once you’ve heard of a story like this, you’re probably way too late in the game and jumping on the bandwagon too late. to advantage. In fact, more often than not, investments in meme coins lose value.
Invest in Meme Coins? 3 things every crypto trader should know
