Celebrities leak big on BAYC, Meghan and Harry building a metaverse, and more.

Celebrities facing huge losses due to BAYC NFTs

The excitement behind the Bored Ape Yacht Club (BAYC) over the past year has led many celebrities to invest in the collection of Ethereum-based non-fungible tokens (NFTs), with many such as singer Justin Bieber paying top dollar.

Bieber paid 500 Ether (ETH) for BAYC #3001 on Jan. 29, which was valued at approximately $1.28 million at the time, while the current maximum bid on the NFT is just over $69,500.

According to data from NFT Price Floor, the floor price of the collection has dropped significantly since it peaked at 144.9 ETH on May 1 this year, which was worth around $396,760 at the time, to a current low of 48 ETH, valued at $58,589 at the time of writing.

Many other celebrities have also ridden the wave of hype that saw Yuga Labs turn NFTs into a “blue chip” collection, such as entrepreneur Gary Vee, who still has a number of bored monkeys in his 2,400 NFT collection , and TV host Jimmy Fallon, who bought BAYC #599 for $224,191 on Nov. 8, which has a current maximum bid of $70,264.

It’s not all bad news for Bored Apes, however, with BAYC #8633 having been purchased by digital art collector Pransky for nearly $747,500 on November 17, proving that there is still a huge demand for Bored Apes with some attributes rare.

The Sussexes in talks for a ‘virtual world’

Prince Harry and Meghan Markle are “in advanced talks” with pax.world, a platform that allows users to create their own metaverse, according to a Nov. 15 Mirror article.

Sources say Markle is the driving force behind the plan. As a result, the metaverse has been cleverly dubbed the “Meg-averse”.

The former members of the royal family are thought to be looking for new ways to connect with their fans and see their supposed metaverse as a way “to make their brand fully global.”

According to pax.world founder Frank Fitzgerald, the metaverse is perfect for the “progressive, tech-savvy” audience the pair are looking to connect with as they build their brand, saying the platform offers the pair “a storyline of privileged pax .land of the world.”

Adidas Originals unveils the “virtual gear” collection.

Adidas released an Ethereum-based NFT collection called the Genesis Collection on Nov. 16, featuring a series of wearables designed to be worn by virtual avatars.

Calling the new product Virtual Gear, the sportswear giant labeled the collection a “new interoperable product category,” adding:

“[It] accelerate our collective drive to strengthen web3 and open, community-based metaverse engagement dedicated to adidas members”

Building on Adidas’ partnership with BAYC, Mutant Ape Yacht Club and Inhabitants, the 16-piece collection will also allow users who own an Adidas NFT wearable and a participating partner’s NFT to “dress” that NFT in their virtual Adidas wearable .

Owners of the Adidas Originals: Capsule NFT Collection, which launched in May, will be able to burn their capsule NFT and replace it with a random NFT from the new collection.

Commenting on the collection, Adidas Originals senior vice president of creative direction, Nic Galway, said that Web3 opens up new opportunities for its designers and collaborators and adds a “level of utility that can be explored and even discovered as worlds and avatars take on new forms.” .”

Sony’s NFT gaming patent

In a patent filed in May 2021 and made public on Nov. 10, tech conglomerate Sony revealed its intention to incorporate blockchain technology into its games.

The patent shows the company aims to track gaming assets using blockchain technology and NFTs, including a series of diagrams showing how it would do it.

One of the diagrams showing how Sony expects its tracking system to work. Image: WIPO

While the filing is just a patent at this time, it could indicate that the entertainment giant is interested in joining the growing NFT gaming market.

Sony has already gotten a foothold in NFTs, having partnered with Theta Labs in May to launch a collection of 3D NFTs viewable on its Spatial Reality Display, which allows for the viewing of 3D models.

More nifty news:

Cryptocurrencies took center stage at the Abu Dhabi Grand Prix, with Red Bull Racing featuring NFTs on both Red Bull Racing driving team cars following a deal reached with cryptocurrency exchange Bybit.

BAYC creator Yuga Labs acquired Beeple’s browser-based NFT game on Nov. 15. The game allows players to equip heroes with crafted gear and items to complete missions, and Yuga Labs has hinted that it could be merged with their Otherside. metaverse ecosystem.