NFT Weekly: Miami, Tiffany’s Push Past Artwork
Miami’s crypto-enthusiast mayor, Francis Suarez, has announced what promises to be (or at least he hopes will be) a pretty high-profile non-fungible token (NFT) project. With 5,000 NFTs designed by 56 local artists — the city packs a lot into its 56 square kilometers — the project is meant to keep the city “at the forefront of the Web3 revolution,” he said on July 28.
If it sounds like the trend toward NFT adoption as a Web3 strategy is in good shape, you’re probably right.
See more: Since when is dropping a NFT Care Bears Collection a Web3 strategy?
Buyers will get more than just the digital artwork. The tokens will provide special access to Mastercard’s Priceless Miami program, such as “one-of-a-kind events at local Miami restaurants to curated, unforgettable private tours of Miami cultural institutions.”
The Ethereum-denominated NFTs will launch in December after the No. 2 blockchain merges with its greener proof-of-stake Ethereum 2.0, and they have many corporate backers: Time, which recently “evolved” into the “Web3 space ” ” according to its president, Keith Grossman; and Salesforce, which will create and sell them through its new NFT Cloud, is involved in the pilot.
My Huckleberry CryptoPunk
Tiffany & Co. has jumped into the NFT market with NFTiffs, a collection of digital artwork and real jewelry inspired by the groundbreaking 8-bit CryptoPunks.
While anyone can buy an NFTiff — for 30 ETH, around $50,000 as of this writing — people who own CryptoPunk NFTs can redeem them for a custom gold, lacquer, and gemstone pendant.
We take NFTs to the next level. Exclusively for CryptoPunks holders, NFTiff transforms your NFT into a custom pendant handcrafted by Tiffany & Co. artisans. You will also receive an additional NFT version of the pendant. Learn more: #NFTiff #TiffanyAndCo pic.twitter.com/pyKlWejHv4
—Tiffany & Co. (@TiffanyAndCo) 31 July 2022
CryptoPunk trading volume on top NFT marketplace OpenSea increased by nearly 1,850% on Monday (August 1), when the announcement was made, according to Cointelegraph.
See also: Tiffany NFTs hit the market for $50K
With a limited edition of 250 and 10,000 CryptoPunks, it sounds like there could be a significant secondary market for people betting on owning one of the real CryptoPunk NFTs, which start over $100,000 and have sold for that much which $3.3 million as recently as last month, will be willing to part with even more money for a piece of jewelry in one of Tiffany’s famous blue boxes.
That said, it’s a pre-sale whitelist, so even if you’re willing to shell out $50,000, you might not get one.
Amex talks about Turkey
As part of an $8 million venture round, green NFT platform OneOf is giving musician and athlete-focused American Express — an investor — a collection of tokens by well-known Turkish artist Selay Karasu to attendees of a pop-up event for card members: American Express Summer in Color Oasis, at the Mandarin Oriental hotel in Bodrum, Turkey.
The currency
The year is over boom 💥 it went fast! and we’ve all had to decide: NFT or physical? The final numbers are: 5,149 physical and 4,851 NFTs (which means I have to burn 4,851 equivalent physical tenders). pic.twitter.com/xCUJ0gviZ0
— Damien Hirst (@hirst_official) 27 July 2022
Burn baby burn
Damien Hirst, the ’90s ‘enfant terrible’ known for floating sharks and other animals in formaldehyde, is following through on his promise to burn thousands of his dot paintings sold in 2021, with the buyer able to choose either the physical. art or a NFT digital representation, with the second version burned. Just under half of the buyers – 4,851 – chose the NFTs, so the paintings will go up in smoke.
Read more: NFT Series: From famous artists to forgers, the art world is embracing NFTs
Mouse ‘Will’ NFTs
Muse’s ninth studio album, “Will of the People” will be sold as an NFT on Serenade, an eco-friendly NFT platform focused on music, Decrypt reported. The band, which won Grammys for Best Rock Album in 2011 and 2016, will release the Warner Records album on August 26 in a variety of other formats as well. It’s not the first release of an album on NFT, but if it turns out to be a hit, it could expand the use of NFTs as a music media format.
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NEW PYMNTS SURVEY FINDS 3 IN 4 CONSUMERS WITH STRONG DEMAND FOR SUPER APPS
About: The findings of PYMNTS’ new study, “The Super App Shift: How Consumers Want To Save, Shop And Spend In The Connected Economy”, a collaboration with PayPal, analyzed the responses of 9,904 consumers in Australia, Germany, the UK and the US and showed strong demand for a single multi-functional super app instead of using dozens of individuals.
