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04.15.22



 

EDITOR'S NOTE 

There’s more to be done with a NFT collection beyond its drop. As this week’s featured players show, building utility and community into a NFT project goes some way toward ensuring mints as much as long-term value. And as Nansen’s newly released Q1 2022 report on the NFT market reveals, the increased weighting of membership, utility, and access-based NFTs is nothing to sniff about. Read on for more on how NFT projects by the likes of Clay Nation, Zara, and adidas are dynamizing their offerings this week.

Reach out to us with NFT-related tips or stories for potential coverage in our upcoming editions.

Brand or sponsor a section of our newsletter to get in front of an audience. Contact laura@jingculturecommerce.com for sponsorship or partnership opportunities.

THE BIG STORY


What's fueling the NFT conversation

Image: Roman Verostko, "A Universal Turing Machine Self Portrait Version - F0.UTM," 2022 / Courtesy Sotheby's

COMPUTER ART PIONEERS HIT THE BLOCKCHAIN

WHAT HAPPENED: Digital art forerunners Vera Molnár, Chuck Csuri, and Roman Verostko are set to star in Sotheby’s upcoming auction, Natively Digital 1.3: Generative Art. Opening April 18, the sale features works by these early computer artists — who utilized proto-digital tools like plotters and primitive programming languages — will be available in both physical and NFT forms, marking the artists’ first digital tokens. Rounding off the auction are lots featuring contemporary generative artists including Anna Ridler, Dmitri Cherniak, and IX Shells. The auction is accompanied by an exhibition running at Sotheby’s York Avenue galleries from April 19 to 24.

WHY IT MATTERS: As antecedents to the digital and generative art we know today, it was only a matter of time that early computer artists wound their way into NFT commerce. Recognition of their pioneering efforts is overdue, but too, the sale works to attach new value to pieces such as Verostko’s algorithmic series and Molnár’s plotter-based art, while further bolstering the bridge between the digital art developments of the early 20th century and the blockchain-based momentum of the 21st.

 

THE NFT DROP TO KNOW


The release shaking up NFT commerce

Image: Claynation.io

ARTWORK: Clay Nation by Clay Mates

THE LAUNCH:
 On April 10, Clay Mates, the collection of 10,000 game-ready 3D avatars bearing clay-made traits, commenced land sales for its upcoming Clay Nation. The virtual world aims to replicate a festival environment, where Clay Mates holders are invited to partake in arts and culture events. Buyers could purchase “pitches” in three distinct zones: Sonic Village, Underworld, and Baked Nation — the latter created in collaboration with Snoop Dogg and his son Cordell Broadus, aka Champ Medici. Each pitch is customizable, and enables holders to unlock further asset packs and bonus content.

THE RECEPTION: According to Clay Mates, Clay Nation’s initial sale saw 8,488 out of 10,000 pitches snapped up in Sonic Village, 8,163 out of 9,426 in Underworld, and a stunning 12,087 out of 12,600 in Baked Nation.

WHY IT MATTERS: Besides providing Cardano, the blockchain on which the project is built, a bump in profile as much as levels, the Clay Nation collection represents an attractive metaverse buildout, offering its holders utility and unlockable content, while unifying them in a shared virtual space. The participation of big names such as Good Charlotte and Snoop Dogg doesn’t hurt, particularly as Snoop has been vocal and active about his investment in the NFT realm.
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THE WEEK'S NFT RANKINGS

In partnership with  

                                                                          Last 7d Sales                   Last 7d Changes
 1  Mutant Ape Yacht Club                               $26,033,398                           31.23%
 2  Bored Ape Yacht Club                                $25,875,123                           28.49%
 3  MOAR by Joan Cornella                             $23,868,735                          225.94%
 4  Impostors Genesis                                     $21,504,308                           153.13%
 5  Shinsekai                                                     $21,293,533                               0%
 6  Azuki                                                            $20,959,810                           75.66% 
 7  Arcade Land                                                $18,902,146                           42.70% 
 8  CloneX                                                          $13,971,716                          74.28%
 9  CryptoPunks                                                $13,756,558                            0.82%
 10  Los Muertos                                               $12,194,641                         407.31%
For the week ending 4/14/22. Source: Cryptoslam.io
WHAT'S TRENDING

Image: Nansen

METAVERSE AND BLUE CHIP NFTS 
Earlier this week, blockchain analytics platform Nansen published its latest NFT Indexes Quarterly Report, its review of how the NFT market has fared over the first quarter of 2022. The report emerges from its six indexes, which separately tracked categories such as Social NFTs, Art NFTs, and Gaming NFTs. The headline finding? In a marketplace that continues to outperform the cryptocurrency market year-to-date, Metaverse and Social NFTs are leading the pack, with Blue Chip NFTs demonstrating the least volatility. 

According to the report, Social NFTs dominated market capitalization, while Metaverse NFTs (encompassing land and assets) outstripped the market year-to-date with a return of some 130 percent when denominated in ETH. Blue Chip NFTs, defined as “well-established” and “classic NFTs” such as CloneX and Azuki, stabilized in terms of value, especially when compared to the continued volatility of Art and Metaverse NFTs.

EVENT SPOTLIGHT


Upcoming NFT events to watch

NFT COLLABORATION: PROS AND CONS OF MONETIZING LUXURY NFTS
APRIL 25 | VIRTUAL

Join Jing Daily for a virtual event exploring the growth of NFTs and the metaverse, and spotlighting the possibilities and pitfalls of integrating NFTs into brand strategies. Expert speakers Giovanna Graziosi Casimiro from Decentraland, Michaela Larosse from The Fabricant, and Jamie Gill from Roksanda will share industry insights and in-depth knowledge into how you can achieve revenue generation in the metaverse, and how to make NFTs work for your brand. REGISTER NOW
NFTS IN THE NEWS

Image: Vision of the Angel NFT / Dalí Universe © Salvador Dalí

DALÍ UNIVERSE NFT COLLECTION
On April 13, private collection Dalí Universe, in partnership with Artscapy, launched the first-ever NFTs featuring the work of Salvador Dalí. Released to coincide with the exhibition SPELLBOUND – Scenography Of A Dream in Naples, the collection encompasses digital reproductions of the surrealist master’s sculptures, with each NFT priced at $30.


HUBLOT X TAKASHI MURAKAMI NFTS
Last year, luxury watchmaker Hublot and Takashi Murakami jointly released two limited edition timepieces bearing the Japanese artist’s flower motif. These collaborative watches, Hublot Classic Fusion Takashi Murakami All Black and the Classic Fusion Takashi Murakami Sapphire Rainbow, have now been minted as NFTs, unveiled at this week’s Watches & Wonders and due for a public sale next month.


SPIRIT OF THE AGE AT HOFA GALLERY LONDON
Long champions within the NFT space, HOFA Gallery has masterminded a new curated exhibition drop. Spirit of the Age spotlights four contemporary artists, Lukas (@25m42), AnchorBall, Pronoun, and Benjamin Garcia, who were commissioned to create works inspired by the 1920 Dadaist piece, “Mechanical Head: Spirit of our Age” by Raoul Hausmann. The works are available for purchase on HOFA’s dedicated NFT platform.


Image: Zara

LIME GLAM BY ZARA
As promised, Zara has arrived in the metaverse. In partnership with the Zepeto virtual world, the fast fashion giant has dropped its first collection of digital wearables dubbed Lime Glam. The capsule includes apparel, cosmetics, and accessories, available as physical pieces or digital versions.


VIRTUAL BILLIONAIRES NFT COLLECTION BY FORBES
The media industry continues to wade into NFT waters. The latest to dip in: Forbes, which unveils its Virtual Billionaires NFT Collection this week in collaboration with crypto exchange FTX. The initial drop encompasses 100 illustrated NFTs, each featuring a fictional investor complete with quirky hobbies and accessories, and who will be “ranked” on a daily Forbes Virtual NFT Billionaires List.


A WOMAN’S WORLD AT BAMBOO SCENES
Hong Kong gallery Bamboo Scenes and cyber architectural firm Oncyber are behind A Woman’s World, a virtual exhibition spotlighting local female digital artists, including jewelry designer Payal Shah, illustrator Claudia Chanhoi, and new media creator Sharmaine Kwan. Available to view in VR or on desktop, the show is the first metaverse-based gallery of its kind in Asia.

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ON OUR RADAR


What's on the NFT horizon

Image: adidas

OZWORLD BY ADIDAS
To mark the release of its Spring/Summer 2022 Ozworld collection, adidas has partnered with 3D avatar generator Ready Player Me to offer consumers the opportunity to create their own virtual alter ego. With these cross-app avatars, users can traverse the metaverse, try on virtual sneakers, or create stickers and GIFs with their singular identity. The first avatars are set to arrive on April 28.


GUNDAM METAVERSE BY BANDAI NAMCO
In a sign of NFT and metaverse growth in Japan, on the heels of Rakuten and LINE unleashing NFT services, Bandai Namco has announced a forthcoming Gundam Metaverse, based on its anime franchise Mobile Suit Gundam and slated for delivery in 2025. The Japanese entertainment giant is reportedly investing $130 million in the build-out of a "platform of opportunities for Gundam fans worldwide to come together to converse and connect in a variety of categories." 

IN CASE YOU MISSED IT


Catch up on Jing's NFT coverage

“I would love to see the conversation around NFTs shift from selling NFTs to showcasing the digital knowledge museums have.”
— Bernadine Bröcker Wieder,
CEO, Vastari



How Will 2021’s Digital Learnings Pave The Way For Museums In 2022?
At Jing Culture & Commerce's year-end webinar, our panelists looked back over a year of digital and creative tech developments.

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What does the environmental impact of NFTs mean for an art world where sustainability was already a glaring issue?

Metaverse Beauty With Chinese Characteristics
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