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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

Could this trademark application indicate that PayPal is developing an NFT market? 

A trademark application for blockchain and cryptocurrency technology has been submitted by PayPal. Some claim that the file has something to do with Web3 and the metaverse, although it may be tied to an NFT marketplace.

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A recent trademark application by PayPal has been found, and it suggests the development of a service pertaining to several facets of blockchain technology. The file, which was made on October 18, makes a notable allusion to the potential introduction of a non-fungible token (NFT) market.

For its logo, PayPal submitted two trademark applications. The first one concerns “downloadable software” for cryptocurrency trading and storage. The second discusses cryptocurrency-related payment processing services.

Although users may currently buy cryptocurrencies on PayPal’s platform, this filing suggests that there may be more to come. The concept of assets is substantially broader in the filing’s terminology. Mike Kondoudis, a trademark lawyer licensed by the USPTO, claimed on Twitter that this filing relates to NFTs and the metaverse.

Although there is no proof to support this, it would not be shocking if it were true. The finance business would be adding its name to a lengthy list of businesses that are starting to make inroads into the Web3 and metaverse spaces.

PayPal is investing more in cryptocurrency.
Over the past two years, PayPal has intensified its focus on cryptocurrencies. First, the company made a huge announcement for the industry by saying that consumers would be able to purchase cryptocurrency on its platform.

However, it didn’t start enabling users to move those funds into wallets outside of the network until recently. It indicated that it would roll out additional crypto-related features in the latter part of last year. One of those additions might be an NFT marketplace.

It teamed up with Coinbase’s TRUST network more recently. This was viewed by many as an endorsement of the sector. The TRUST network upholds consumer security and privacy while adhering to the banking industry’s Travel Rule.

Increased Criticism of Payment Giant
Additionally, PayPal has been in the spotlight for all the incorrect reasons. The business has recently come under fire for a contentious policy that penalized users for disseminating false information. Later, it claimed that false information was released with the amended policy. Crypto aficionados, however, were eager to point to this as evidence of the value of decentralization.

PayPal established a blockchain and cryptocurrency advisory committee earlier this year. According to the company’s management, working with governments is essential to overcoming obstacles and seizing possibilities.

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NFT

Seba Bank, a cryptocurrency company, aims to store valuable NFTs

Seba Bank, a cryptocurrency company, has launched its first NFT service, a blue-chip NFT-specific institutional-grade, certified, and independently audited hot and cold storage custody product.

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The launch comes in response to requests from customers to keep their NFTs with the bank alongside other crypto assets, such as the already-approved Bored Ape Yacht Club, Cryptopunk, and Clone X NFTs. The bank stated that new collections would be added based on customer demand.

With its newest offering, Seba Bank seeks to entice investors who view NFTs as an asset class and crypto natives. Not your keys, not your bitcoin is a well-known phrase in the crypto sphere, and adherents of this maxim could object to having their Apes or Punks stored with a third-party custodian.

Urs Bernegger, co-head of markets and investment solutions at Seba Bank, however, highlights a growing group of NFT holders who are more at ease handing up their NFTs and private keys to a company.

They don’t want the key because they aren’t even aware of how to handle and store it. He claimed that they’re more concerned with damaging the key than giving it to a bank.

It’s a significant issue. Between 2.3 million and 3.7 million bitcoins, according to Chainalysis, are trapped in inaccessible wallets. Numerous accounts of people have lost millions owing to losing private keys, including Russian officials, students, and engineers. Families have also been prevented from accessing substantial quantities of money following sudden deaths in which wallet owners had not disclosed their private keys.

Bernegger asserts institutional custody can be advantageous for native crypto users as well. There has been an increase in businesses providing services that employ NFTs as collateral for conventional banking services like loans.

Seba Bank is thinking about implementing these features in the future. Based in the crypto-friendly Swiss town of Zug, the four-year-old bank already backs several investing, credit, lending, and staking options for cryptocurrencies and might extend them to NFTs.

“Instead of traveling to the market, for instance, we could create a club for collectors and assist them in finding other collectors. There are a few things we have in mind, but we laid the groundwork by storing NFTs securely at first, “explained he.

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The NFT album maker for Kings of Leon now includes a metaverse music venue

YellowHeart, a Web3 ticketing startup, is opening a metaverse music venue in an effort to transform how performers, teams, and event organizers distribute tickets and interact with fans.

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The facility, constructed on Spatial, will feature Grammy-nominated blues musician G.Love as its opening act later this year. Fans can communicate with one another, participate in meet-and-greets before and after performances, and use several screens to view what is happening in various areas of the stadium simultaneously.

They will soon be able to order meals and drinks before the event, which will also be available as digital things.

The idea of an online concert has so far primarily been popularized by big gaming companies. The most well-liked virtual competitions have occurred on sites like Fortnite and Roblox. Ariana Grande’s Fortnite concert in August 2021 received 78 million viewers. Next month, Decentraland will host its second Metaverse Music Festival. Over 100 musicians are on the lineup, including well-known performers like Ozzy Osbourne and Soulja Boy.

In addition to throwing an event, YellowHeart, which assisted Kings of Leon in releasing an NFT version of their most recent album, stated that it hoped to accomplish more. It was established in 2017 with the lofty goal of revolutionizing the music ticketing sector as a whole, which has historically been dominated by powerful reselling organizations and exclusive ticketing relationships. These alliances frequently impose limitations on what purchasers can and cannot do with their tickets. Trying to resell a ticket for a concert you can’t go to might be a headache.

YellowHeart believes these issues can be resolved by returning control to artists and fans via web3 technology. Additionally, it may provide advantages that cannot be programmed into conventional tickets.

“These range from complete albums to personalized vinyl records, exclusive merchandise, and immersive visual art. Web3 tickets also allow performers to update fans on new tour dates, music releases, giveaway possibilities, and much more, according to the business.

It has already collaborated with well-known figures, including Julian Lennon, Maroon 5, and MGM Resorts. Contrary to the non-NFT versions offered on Spotify, iTunes, and other platforms, those obtained through YellowHeart entailed particular customer benefits.

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