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DJ Tiesto will perform at a VIP brunch in Cancun if you purchase this NFT item

For a three-day event in Cancun, Tiesto and the Party Degenerates are collaborating.

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Cancun, a tropical haven, will host a massive bash featuring DJ Tiesto from March 31 through April 3. However, this is a party organized and hosted by a collective of NFT members. The rebellious spirit of those who choose to celebrate life is captured in Party Degenerates, a collection of 10K NFTs. “The Trip” is the name of Tisto’s new concert. What makes this unique is that Party Degenerate token holders will gain access to exclusive experiences such as a bottomless VIP brunch hosted by Tisto, sunrise and sunset beach parties, and general admission to all performances.

Additionally, other artists performing at the event include ACRAZE, Joel Corry Kiko Franco 2AR, ANG, Dombresky, Luis Torres, Ms. Mada, Natalia Roth, Tini Tun, VER: WEST, Callie Reiff, Loud Luxury, Max Styler, and Morten.

Who are Party Degenerates?

As of October 20, 2021, the Party Degenerates are an NFT collectors’ collective whose first drop raised $23.5 million in just 24 hours. The project’s goal is to improve the utility of NFTs. In the group, token holders are referred to as “members” because they hold tokens. In the past, Party Degenerates have hosted members-only events with artists such as Dillon Francis, Marco Carola, Damian Lazarus, Jauz, me b2b Dixon, Guy Gerber, Anfisa Letyago, BLOND:ISH, Kaz James, and Gab Rhome. By virtue of token ownership, both Gary Vaynerchuck and Steve Aoki are members of the collective team, according to the team OpenSea’s floor price for Party Degenerates NFTs is 0.21 ETH with 3,600 owners at the time of this writing. The cost of membership is a bit high, but it is still less expensive than most country clubs.

Party Degenerates co-founder and NFT collector SEEDPHRASE said,

“We’re incredibly excited to connect Party Degenerates with one of the world’s greatest DJs, Tiësto; the metaverse pioneers The Sandbox; NFC; and Pollen, a curator of unforgettable experiences.”

After their trip to Tiesto, the Party Degenerates take their party planning skills to the internet. They will be hosting the “Jungle Afterparty” at Non-Fungible Conference in April as an afterparty for The Sandbox “Jungle.” Participants from the NFT community from all over the world will gather for two days of presentations, seminars, workshops, and hands-on activities. Speakers include Sorare, World of Women, The Sandbox, Screenshot, VeeFriends, and NonFungible.com.

The NFTS’s value

NFTs have long been intended to have practical applications in the real world. Gary Vaynerchuck’s VeeFriends, for example, provides holders with access to events, mentorship, and other tangible benefits. Despite all the talk about how NFTs can change the music industry, they seem to be lagging behind. Independent artists and NFT enthusiasts are taking the initiative to use the tools they are familiar with to bring music into the 21st century. On NFT platform Royal.io earlier this year, rapper Nas sold royalty rights to two of his songs. Under the slogan “Invest in artists,” other artists are selling their work as well. They mean what they say when they say, “Own your favorite music,” and they mean it.

Those who oppose NFTs argue that they are overpriced JPGs. In the minds of those who understand the technology, there is far more to the smart contract than the art it contains. Non-fungible assets can open up a world of possibilities for creatives around the world thanks to automated contracts. The average person would not be able to build the legal and technological infrastructure needed to do what can be accomplished with a few lines of code. NFTs are lowering the barriers to creative autonomy. This new era is just getting started. Assuming everything goes as planned, we’ll no longer have to worry about artists struggling to make ends meet.

NFT

To Be Sold for $70 Million, with Proceeds Used to Support NFT Purchases at MoMA

The auction of works by Renoir, Picasso, Bacon, and Rousseau will help the museum increase its online presence and maybe buy NFTs.

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This fall, the William S. Paley Foundation will hold an auction featuring works of art valued at at least $70 million in order to increase the digital presence of the Museum of Modern Art (MoMA) in New York and possibly acquire the institution’s first NFTs.

Since the passing of the co-founder of CBS in 1990, William S. Paley’s collection has been maintained by MoMA. Sotheby’s has been hired by Paley’s namesake organization, which includes endowment funds for museums and educational and cultural activities, to auction off 29 of the 81 items in the MoMA collection.

The sale proceeds will go toward growing the museum’s online presence. MoMA’s director Glenn Lowry stated in the Wall Street Journal that the museum had suggested several potential uses for the funds.

MoMA may start its streaming service, organize online exhibitions and video discussions with artists, or work with colleges and training organizations to offer online courses. More importantly for cryptocurrency enthusiasts, MoMA might also buy its first NFTs.

According to Lowry, the museum has a dedicated team monitoring the digital art scene to hunt for suitable artists to collaborate with or buy from.

In the interview, he added of NFTs, “We’re aware that we lend an imprimatur when we acquire things, but that doesn’t mean we should shun the domain.

What’s on offer?
The William S. Paley Foundation and MoMA have an agreement that gives MoMA the final say in how the collection is used. Other humanitarian endeavors championed by the late Paley will receive a tiny share of the proceeds from the autumn auction.

Most of the collection’s most famous works, such as Picasso’s “Boy Leading a Horse” from 1905–06 and Matisse’s “Woman with a Veil,” are not for sale. Rousseau and a Renoir, on the other hand, will be sold at auction, according to Lowry.

According to Sotheby’s, Francis Bacon’s “Three Studies for a Portrait of Henrietta Moraes” will be auctioned for at least $35 million in London in October, and Pablo Picasso’s “Guitar on a Table” will be sold for at least $20 million in New York this November.

It’s anticipated that the collection would bring in between $70 and $100 million.

Despite not yet owning a tokenized work of art on the blockchain, MoMA has already contributed to the development of NFTs. The MoMA gave all of its collection’s information in November of last year to the Unsupervised exhibition and NFT project by AI artist Refik Anadol.

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How NFT Projects Are Setting Up For Ethereum’s Network Shift to Stay Ahead of the Merge?

This week is finally predicted to see the occurrence of one of the most important occurrences in the history of cryptocurrencies. 

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The blockchain network will completely switch from its existing proof-of-work consensus process to the proof-of-stake model thanks to Ethereum’s significant software upgrade, known as The Merge. Ethereum is anticipated to carry on as usual, except that PoS authentication of cryptocurrency transactions will now be used instead of PoW.

Ethereum.org states that “The Merge signifies the combining of Ethereum’s new proof-of-stake consensus layer, the Beacon Chain, with its existing execution layer (the Mainnet).” It does away with the necessity for energy-intensive mining and instead uses ETH stakes to safeguard the network.

Sustainability, scalability, and security are the three key areas of concern that The Merge seeks to solve. Researchers at the Ethereum Foundation claim that the new architecture not only paves the way for future scaling improvements like sharding but also significantly cuts Ethereum’s energy consumption by more than 99% because miners won’t have a financial incentive to run computers constantly.

Further modifications to the NFT market are anticipated due to the switch from proof-of-work to proof-of-stake. The Merge may improve the tokenomics of the entire market, broaden the range of cryptocurrencies it supports, and potentially raise the price of NFT.

The bulk of NFTs are a part of the Ethereum blockchain, and many people are enthusiastic about the switchover because it is anticipated to use less energy, allowing users to mint and sell NFTs in a more environmentally friendly manner. However, other users worry that, as with every substantial technological change, there may be a chance for fraud, hacking, volatility, and confusion.

Do you have safe NFTs?
Due to duplicate NFTs existing as a result of the ETH proof-of-work chain and other future forks, it may be unclear which assets are “official” or “real.”

There is a chance that there will be two different types of NFTs when the merge is finished because Ethereum is projected to have at least one proof of work (PoW) fork that will continue to exist. Thus, NFT owners can experience a problem known as a “replay attack.” When a transaction is finished on one blockchain and then repeated on another, this occurs.

OpenSea, the largest NFT market, and well-known companies like Yuga Labs, the company behind the Bored Ape Yacht Club, have officially said that they will not accept the identical NFTs that are present on these chains. In a similar vein, Proof, the startup that is in charge of the Moonbirds NFT project, has stated that it will neither acknowledge or support any forks that are made after a merging.

The Merge will quickly establish itself as the dividing point between PoW-era and PoS-era NFTs. One of the first projects to launch during Ethereum’s new phase will be Supercute World’s SELFi3STM NFT collection. The project will be powered by Web3 developer platform, Alchemy, and will showcase the company’s new full stack NFT development capabilities.

Nikil Viswanathan, cofounder and CEO of Alchemy, stated, “Our objective has always been to bring web3 to a billion people, and we see NFTs being a crucial driver of that adoption.” We’ll keep investing in our full-stack NFT development offering and supporting innovative, exciting new projects like Supercute World to help reach that aim.

The first completely inclusive NFT initiative is SELFi3STM by Supercute WorldTM, which offers male, female, and gender-neutral variants so users can develop and represent the greatest versions of themselves online. Without ever changing the rarity score, holders will be able to select the best version of themselves.

The upcoming collection of 7,777 SELFi3S from Supercute World is anticipated to debut in October. Visit the website and follow the project on Twitter to keep up with developments and learn more about Supercute WorldTM.

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‘LG Art Labs,’ a new NFT marketplace, is introduced by LG Electronics

The second major South Korean television manufacturer to do so this year is the electronics giant, which just opened its own NFT marketplace.

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The “LG Art Labs” NFT marketplace has just been released by LG, a South Korean electronics business, and is now accessible to all US LG television owners running webOS 5.0.

From the comfort of their homes, users may purchase, sell, and trade non-fungible tokens (NFTs) through the marketplace, which is available from the LG home screen.

NFTs are non-fungible tokenized blockchain representations of non-fungible assets, making them distinct and irreplaceable. Similar to how antiques and works of art are frequently non-fungible in the real world, NFTs on a blockchain ledger typically represent digital versions of these items.

Wallypto, LG’s in-app cryptocurrency wallet created by the Hedera network last September, manages transactions on LG Art Labs.

Hashgraph, an alternative distributed ledger system (DLS) to blockchain that offers lightning-fast transaction times, highly functional smart contracts, high energy efficiency, and transaction fees that amount to only pennies, is the DLS that Hedera employs.

On August 12 of this year, LG submitted an application to register the Wallypto patent.

The two companies initially collaborated when LG joined other tech giants like Google, IBM, Deutsche Telekom, and Ubisoft on Hedera’s governing board in 2020.

LG Electronics enters the NFT market

LG is not the first Korean TV maker to integrate NFT trading into the viewing experience.

To develop a new NFT marketplace for owners of Samsung TVs, Samsung announced a partnership with NFT marketplace Nifty Gateway in March of this year.

Through a smart TV interface unveiled in January, users may view, purchase, trade, and display NFTs.

The Samsung MICRO LED, Neo QLED, and The Samsung NFT Platform supports the Frame TV models from 2022.

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