This week in NFTs (Issue 4)
Issue 4: Picasso NFTs, Reddit & YouTube NFTs, Kanye vs Paparazzis, OpenSea x Solana, Coinbase NFT marketplace teaser, Shopify x Adam Bomb Squad
So much going on this week that the newsletter has no lack of content! And any kind of news is good news (even the bad, because we learn from it). It’s exciting always to cover these kinds of stories because you truly know that things are moving (even when the pundits say NFTs will go to zero!)
Without further ado…
Overheard in the Metaverse
This week’s quote is from Bobby Hundreds, co-founder of The Hundreds & Adam Bomb Squad.
This Week in the Metaverse - Adoption News
Pablo Picasso’s Family to Release NFT Collection
Even if you’re not into art, you’ve probably heard of Picasso.
His heirs, granddaughter Marina Picasso and her son, Florian Picasso have announced a multi-platform collection of 1010 NFTs of one of his ceramic works that have never before been seen publicly. Purchasing the NFTs will also come with a music track put together by Florian, songwriter John Legend and rapper, Nas.
The NFTs will be sold in 5 batches of 200 via the Picasso family’s marketplace - ManAndTheBeat.com. The final 10 NFTs will be released on Nifty Gateway.
Here for the original press release.
Reddit NFT PFPs
So jumping into the bandwagon of NFT PFPs alongside Facebook, Instagram and Twitter is Reddit.
In an interview with TechCrunch, Reddit stated that they are “always exploring ways to provide value for users and communities on Reddit. At the moment we’re testing the ability to use NFTs as profile pictures (avatars) and verify ownership.”
It’s worth noting that Reddit has stated that this feature is currently a small-scale, internal test with no decisions on rolling out the capability any time soon.
Did you know: Reddit has been experimenting with NFTs for a while and even has a dedicated NFT website for their CryptoSnoos NFT at nft.reddit.com! You can get the Snoos at OpenSea but they don’t come cheap!
YouTube Hints on NFTs for Creators
In a letter published Tuesday on YouTube’s blog, CEO Susan Wojcicki states that her team has been following the happenings in Web 3.
Of which, they have been she wrote about NFTs being able to “grow the connection between creators and their fans” whilst helping them “capitalize on [the] existing technologies”.
There are no further clarifications as to how or the timeframe for these to be implemented, but it is clear that YouTube is amongst the many tech giants that are now looking to enter the NFT space.
Shopify x Adam Bomb Squad
If you’re like me, you might have read this as SPOTIFY at the first look. PSA: this is not the music streaming service, it’s Shopify. For the uninitiated, Shopify is an e-commerce platform that allows anyone to create their online stores and sell their products.
It is not Shopify’s first foray into NFTs however.
Shopify has a beta program for US-based merchants that use Shopify Plus to experiment with minting, buying, and selling NFTs using their platform. Ethereum, Polygon, Near, and Flow are currently the blockchains supported as part of this beta.
Kanye, Royalties, NFTs, Paparazzi
When being filmed by the paparazzi after arriving at Miami International Airport, Kanye West expressed his displeasure and frustration saying
"It's just really one-sided. You guys can follow us, you guys to stand from the hotel at any given time. You don't give us any percentage of what you make off us, off our kids. And I'm going to change that."
He went on to say:
"You know, NFT people get paid in perpetuity on the product that they put out. So my image is a part of something that I should get paid for. We all got to make money together,"
This is about the creators being able to set royalties and receiving proceeds from each time an artwork is being sold. However, the current structures and feasibility of co-sharing royalties are still in their infancy. Perhaps Ye will find a way to change that, as he says.
CoinbaseNFT’s Marketplace Teaser
Earlier in the week, Sanchan Saxena, the VP of Product at Coinbase, circulated a video on his Twitter showcasing a glimpse of their new marketplace. It sports a simple and intuitive user interface that does not stray too far away from their existing products within the Coinbase lineup.
The marketplace is connected to the blockchain, meaning whatever NFTs you purchased from their marketplace can be transferred out, and vice versa if you had purchased it from any other marketplaces.
There is currently no set release date, but the showcase does show an already working product. So that suggests we shouldn’t be too far away from release!
OpenSea & Solana NFTs Integration
OpenSea has had a spotty week marred by negative news about NFTs being sold below floor prices due to UI issues on the platform.
Nonetheless, if there was anything to get anyone excited about OpenSea again amidst all that, it would be a leak from Jane Wong earlier in the week. It showcases screenshots of a Solana-based wallet (Phantom) being connected up with OpenSea.
With Solana rising quickly as one of the chains with vibrant NFT activity, this integration can be a massive boost to OpenSea’s bottom line.
Podcast of the Week
Web 3 is shaping up in opposition to the current Web 2, moving away from the centralized, data-driven approach of today's internet.
This podcast discusses how before Web 3 and the metaverse take hold, important discussions should be had now about the opportunities and obstacles that abound in a crypto future.