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OneOf and Sports Illustrated are Teaming Up to Launch an NFT Marketplace on Polygon

As OneOf becomes multi-chain, the historic magazine brand will release NFT collectibles from Ali, Hamm, Gretzky, and others.

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#nft #nfthours #muhammadali #sportsillustrated #oneof

Another potential major player is entering the burgeoning sports NFT collectibles market. Today, Sports Illustrated, a 68-year-old magazine, announced a partnership with NFT startup OneOf to launch a sports NFT series on Polygon, featuring Muhammad Ali, Wayne Gretzky, and Mia Hamm among the first nine athletes.

The Sports Illustrated NFTs will provide recreated replicas of iconic magazine cover photographs for each of its first paired athletes, all designed by artist Jonathan Winbush.

Following Super Bowl LVI on February 13, OneOf aims to debut the platform later this month, with the first drop starring NFL legends Emmitt Smith, Jerry Rice, and Dick Butkus. Aside from individual NFTs for each, the marketplace will also include a limited-edition “Greatest Play That Never Was” fantasy NFT artwork piece featuring all three retired football greats.

In addition to those three sportsmen, OneOf will release NFTs from Muhammad Ali, Shaquille O’Neal, Wayne Gretzky, Mia Hamm, Billie Jean King, and Dale Earnhardt Jr., among others. Lin Dai, co-founder and CEO of OneOf said that the company is collaborating with Sports Illustrated, which worked with each athlete (or their estate) to conduct the inaugural NFTs.

A few major projects already dominate the sports NFT field. With its athlete-centric approach, Tom Brady’s Autograph platform is similar in scope, while Fanatics’ Candy Digital has the official MLB license and Dapper Labs helped bring NFTs popular with NBA Top Shot. Dapper’s UFC Strike is also new, and NFL All Day is coming shortly.

Gretzky and Earnhardt Jr. already have NFTs on Autograph, so they’ll be available on a variety of collectibles outlets. In addition, the late Muhammad Ali has already been featured in other NFT drops. The non-exclusive nature of most sports and athlete NFT partnerships, according to Dai, gives collectors more options.

“I think that actually allows different platforms a lot of freedom to establish their own specialty,” Dai said. “What we’re aiming to achieve is in line with our ideal of putting the artist or athlete first. We believe it is quite appropriate for us to conduct direct athlete partnerships in order to ensure that they are a part of this revolution—rather than relying solely on the leagues to capitalize on it.”

The Sports Illustrated relationship, according to OneOf, is the start of a larger sports and lifestyle vertical. Dai said they’re also working with collegiate sports teams, pro basketball franchises, racing organizations, and international soccer clubs in addition to this initial list of nine individuals.

The OneOf sports marketplace will also provide a minting pass, which allows buyers to get first dibs on all of the platform’s scheduled releases in 2022, including future team NFTs. Before the platform’s post-Super Bowl launch, more details on the pass will be unveiled.

Going multi-chain

For OneOf, mining NFTs on Polygon, an Ethereum sidechain scaling solution, is a first. Tezos powers OneOf’s music-centric marketplace, and the company has been a prominent player in the Tezos NFT ecosystem to date.

OneOf’s decision to embrace Polygon is a step toward a multi-chain future. As it aims to provide more options to partners, Dai added that additional energy-efficient blockchain systems could be used in the future.

Tezos was chosen by OneOf’s music marketplace, which started last summer after funding $63 million, because of its lower environmental impact, which is crucial to many musicians, according to Dai. It has collaborated with Warner Music Group and The Grammys on future NFT launches and has featured drops from the late Whitney Houston and other artists.

The Polygon chain, on the other hand, is the same one used by Autograph. Brady’s platform, according to Dai, not only “paved the road” for OneOf’s sports play, but the existing sports NFT collector base on that platform may have influenced Sports Illustrated’s choice.

“It’s already a terrific environment there,” he continued, “so it’s understandable that Sports Illustrated chose Polygon.”

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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