Top Stories In October
Ethereum Hits A New All-Time-High Following Altair Update
On October 27, Ethereum rolled out their Altair update (EIP-2982), which will enable the upcoming merge of the proof-of-work chain and the Beacon Chain. This update benefits ETH holders by making it deflationary while offering larger returns to validators. It also introduced in-protocol penalties for validators to further protect the network’s security. Following the update, ETH reached a new ATH of above $4,400.
NFT trading volume hit $10.7 billion
According to a report by Dapp Radar trading volume surged in the third quarter of 2021 to $10.67 billion – a 704% increase from the previous quarter. August in particular was a record-breaking month, with over $5.2 billion in trading volume.
Adobe Offering NFT Verification in Photoshop
Adobe has announced a feature called Content Credentials that will allow users to add verifiable metadata to their work. NFT buyers will be able to verify that the token minter and original artist share the same blockchain address.
Valve Blocks NFT, Blockchain Games On Steam
Earlier this month, Valve added a rule prohibiting applications that “issue or allow exchange of cryptocurrencies or NFTs” on their gaming platform, Steam. Valve has not given a reason for the ban, but developers speculate its because they do not want items with real-world value on Steam. NFT developers are now petitioning Valve to reverse the ban.
Visa Launches NFT Program To Support Digital Artists
Visa is partnering with former Major League Baseball player turned NFT artist Micah Johnson to build a program that will support artists who want to use NFTs to sell their work. “Working together [with Visa], we want to arm creators with the resources they need to stay at the forefront of this revolution,” Johnson said in a statement.
Facebook Rebrands to Meta
Mark Zuckerberg announced a rebranding of Facebook he unveiled plans to transition to a metaverse company. Meta includes a new division called Reality Labs, dedicated to the metaverse, with $10bn of investment to come in 2022.
October Drops and Announcements
Mekaverse Makes $60 Million
Mekaverse, an NFT collection featuring robot style artwork known as Mekas, has become one of the most in-demand collections to date. The project generated $60 million within 24 hours of minting, with an average price of 7.1 ETH even before the reveal. Following
Disney to launch NFT digital collectibles with VeVe
Disney announced that they will release NFTs of their characters as part of its promotions for Disney+. The NFTs will include characters from Pixar, Marvel, and Star Wars collections, and the drop begins on the VeVe app on 12 November.
Playboy Announces Rabbitar NFT Collection
On October 20, Playboy unveiled its newest collection of NFTs: Playboy Rabbitars. Paying homage to its founding year 1953, Playboy will release 11,953 unique Rabbitars, 3D rabbit characters, in NFT form. Rabbitar holders will receive access to benefits like special members-only events, merchandise, artwork, and exclusive artist collaborations.
BitTrunks Releases World’s First NFT Made By An Elephant
BitTrunks, the NFT-branch of Elephant Art Online, announced the debut of its NFT initial release featuring the world’s first NFT created by an elephant. The NFT artwork was produced by Tunwa, a 7-year-old elephant who was born and raised at the Maetaeng Elephant Park & Clinic in Chiang Mai, Thailand.
Dolce & Gabbana Sets $6 Million NFT Fashion Record
On September 30, Dolce&Gabbana (D&G) set a $6 million record for fashion NFTs with Collezione Genesi, a nine-piece collection of digital NFTs alongside some physical couture. The collection was auctioned by UNXD, a curated marketplace for digital luxury fashion. Of the nine pieces, five were physical creations designed by Dolce&Gabbana, with virtual versions created by UNXD for the metaverse.
Glenfiddich Sells 46-year-old Whiskys as NFTs
Glenfiddich recently sold 15 bottles of 46-year-old whisky for $18,000 per bottle. Each NFT comes with a revolving image/artistic impression of the bottle, and also serves as a counterfeit-proof certificate of ownership. The bottles will be held by the company until the consumer redeems it, at which point the NFT must be burned.
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