- Polygon leads $25 million in funding for Web3 venture studio SuperLayer.
- The Art Block Collection, Portal – The Art Blocks Playground, saw its highest floor price in the last 24 hours, from 39 ETH to 300 ETH on OpenSea.
This week, blue chip NFT projects CryptoPunks and Meebits changed their terms of service to grant holders more commercial use rights, just weeks after Moonbirds switched to a Creative Commons Zero (CC0) license.
In funding news, crypto investment firm CoinFund has raised $300 million for a venture fund that plans to invest in companies after the seed stage.
Blockworks also revealed other notable stories that caught Web3’s eye.
Stack of cash
Ethereum Layer-2 scaling platform Polygon has announced a strategic partner role in Web3 venture Studio SuperLayer following a $25 million investment.
The venture capital firm backs late-stage projects and is led by game entrepreneurs Kevin Chu and Mahesh Velanki, founders of various Web3 companies including Rally.io, a creative economy protocol on the RLY network, and blockchain game publisher Fort.
The funding will be used to support and scale SuperLayer’s ecosystem of projects, the company said.
Superlayer was launched in October and is backed by several investors such as Animoca brand founder Yat Siu, celebrity Paris Hilton and Andreessen Horowitz (a16z) partner Chris Dixon.
Static domains go mobile
iPhone users can now download the Unstoppable Domains mobile app to manage any NFT domains they own.
This means users can easily shop and purchase domains directly from the mobile app instead of a computer browser. Users can connect the following crypto wallets to the app: MetaMask, Rainbow, Trust Wallet, Ledger Live, AlphaWallet and MathWallet for now.
If the phone is lost or stolen, domain names can be manually backed up or saved as an encrypted copy on iCloud.
Because decentralized domain names are stored as NFTs (Non-Fungible Tokens), the Static Domains app allows users to choose a Web3 ID card with a profile picture that can be shared on social media.
Users can access hundreds of WalletConnect-enabled apps with 180+ apps, meters and games through a seamless single sign-on service. The advantage is no more passwords to remember.
NFT art as jewelry
On top of Tiffany & Co.’s NFTiff collection of cryptopunk jewelry, the jewelry NFT market is growing exponentially. Sotheby’s is the next auction house to let collectors wear their art.
A physical 18-carat gold and emerald ring called the Ethereum Expedition and a matching NFT will be part of Sotheby’s first auction for artist-made jewelry, “Art as Jewelry as Art.” Its shape was inspired by geodesic domes and intercontinental rocket launchers.
Metagolden, a digital gallery that sells NFT art certified in 18 karat gold jewelry, designed this piece for its upcoming September sale.
The buyer can wear the ring in real life – in the metaverse, avatars can wear the digital wearable, the value is independent of the material.
The auction includes jewelry pieces such as Picasso pendants, earrings designed by Dali and a piece by Man Ray.
Speaking of figurals
Cult & Rain is phygital. (Physical/Digital) Web3 fashion brand co-founded by fashion creative director George Young. He creates both physical and digital projects such as luxury sneakers and, more recently, Varsity jackets paired with NFTs.
The brand recently launched its own metaverse, CULTR WORLD, which aims to revolutionize fashion and commerce.
Blockworks spoke to Young, a luxury fashion veteran who started Cult & Rain because he thought the “fashion system was broken.”
Restrictions: You are known to sell phygital products through NFTs. Tell me more about Phygital Market.
which one Version 1.0 is actually putting the chip in the shoe and linking this physical shoe to the blockchain to verify and transfer ownership. But when the NFT market started heating up, we saw a huge opportunity, which was to create physical products and sell these 3D animated NFTs with a physical counterpart and a physical twin to it.
We are all about luxury. We are all about scarcity, and we produce all our physicals in Italy. Our sports shoes are produced in the factory that produces for LVMH and Kering.
I knew digital was the future of fashion, and I knew dynamic digital wearables, vignettes and this complete shift to Web3 would be the basis of how different luxury brands would enter the next phase.
Restrictions: Why start your own metaverse?
which one We know where the metaverse and avatars are [the industry] He is leading. So we know we want to build an environment where you can connect your avatar to our metaverse and cross over to other metaverses in the future. This is how people move with their flexibility, and digital wearables are needed for flexibility. They also want their own home, a place to hang out, to invite their friends over. So we are trying to jump ahead.
Unlike The Sandbox and Decentraland gamification, we wanted to create a completely new experience based on photorealism. It’s hard to tell if the photo-realistic look is a game or real life.
Restrictions: Can you talk a little bit about the pain points of the traditional fashion industry?
which one There is an enormous amount of use and waste – time, energy, water use. Take denim for example. Denim is one of the most toxic clothing dyeing processes, which is very hard on the environment. So there’s a huge environmental impact and that’s why a lot of professional products all talk about sustainability for a long time, because nobody realizes that impact.
So with this model we avoid waste. We go directly to the consumer. This is almost like the ultimate direct-to-consumer model. We allow the consumer to shop on the website or shop in Metaverse.
Your digital asset that we sold to you as an NFT will be the ultimate Soho House membership card. And it’s about hooking up a lot of utilities. The main utility is a related physical luxury product, so it’s two for the price of one.
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