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ART & COLLECTABLES

Sorare and French Football Have Teamed Up to Release NFT Cards for the Men’s National Team

This morning, Sorare announced a new licensing deal for the sale of non-fungible tokens with the French Football Federation (FFF).

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Sorare, a blockchain-based fantasy soccer game, has announced a license agreement with a national sports body to generate nonfungible tokens of its players, just in time for the Euro 2020 competition.

Sorare said that the France Football Federation, or FFF, had developed its own line of player nonfungible tokens, or NFTs, prior to the team’s match against Germany on Tuesday. The French National Team, dubbed “The Blues” owing to the color of their uniform, is presently competing in the 2020 Union of European Football Associations European Football Championship. The Euro 2020 event was postponed last year due to the epidemic.

The new digital cards for the national team will join those for more than 140 other licensed teams, including Bayern Munich, Juventus, Liverpool, Paris Saint-Germain, and Real Madrid.

National teams being included to the NFT collection is a logical next step for the digital collectable marketplace. With over 100,000 active monthly users from 140 countries, the network has a vast worldwide fan base to draw upon. Given that they are the defending world champions, France was an easy choice to be the first national team to work with.

After winning the European Football Championship in 1984 and 2000, France was one of the first national football associations to enter into a licensing agreement for official digital artifacts. Sorare, on the other hand, indicated that it was “discussing actively” with other organizations throughout the world.

“Today is a historic day for Sorare as we release the World Champions to the game through our unique relationship with the French Football Federation!”

said Nicolas Julia, CEO of Sorare.

“The team is on fire, and there will be a lot more coming shortly to bring you the finest of football,” he continued.

Sorare Will Tokenize French Players

The licensing agreement allows for the creation of NFT digital cards of the French men’s squad for the Euro competition. The cards will be valuable in the same manner that each player’s club version is valuable. The current supply of each player’s 111-card 2020 season release includes each NFT.

Players from the France national team, such as Antoine Griezmann, Paul Pogba, and Hugo Lloris, will be tokenized into digital cards for the 2020 season. Based on their performance stats saved on the blockchain, player cards for the fantasy football game will have varying scores and rarity.

Beginning in Game Week 174, top players from ongoing Global Nations contests will be granted National Team cards, and their numbers will grow when teams are eliminated from play. Each event’s top three finishers will receive a randomly selected FFF Super Rare card.

Since January, Sorare has sold more than $70 million in digital cards, with 90,000 monthly active users from 140 countries. Football — or soccer, as it is known in the United States and a few other countries — is played by people in over 200 countries.

Sorare CEO Nicolas said, “We’ve onboarded the World Champions: the French team.” “This is the first of many football associations that will join us in the weeks and months ahead.”

ART & COLLECTABLES

Ford is getting ready to enter the Metaverse with digital cars and NFTs

A month after the company announced significant personnel reductions, it has filed a trademark application covering its future initiatives in the Metaverse and NFT space.

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Ford Motor Company, an American automaker, has filed 19 trademark applications across its key automobile brands as it prepares to enter the realm of nonfungible tokens (NFTs) and the Metaverse.

Mike Kondoudis, a trademark attorney licensed by the United States Patent and Trade Office (USPTO), disclosed in a tweet on Wednesday that the business had submitted a total of 19 trademark applications covering its car brands, including Mustang, Bronco, Lincoln, Explorer, and F-150 Lightning, among others.

The trademark applications include a projected online marketplace for NFTs and virtual versions of its businesses’ automobiles, trucks, vans, SUVs, and clothes.

Ford intends to produce digital images of its vehicles, SUVs, trucks, and vans that will be verified by NFTs, according to USPTO filings submitted by the automaker on September 2.

The business also disclosed plans for “downloadable virtual commodities,” or “computer programs,” that would include apparel, accessories, and parts for vehicles for usage in “online virtual environments,” such as virtual and augmented reality trade exhibitions.

Additionally, there are plans to develop an online marketplace for “others’ digital artwork” as well as “online retail shop services featuring non-fungible tokens (NFTs) and digital collectibles.”

Less than a month after Ford Executive Chairman Bill Ford and CEO Jim Farley announced significant personnel reductions from its global workforce to decrease corporate expenses; Ford has decided to enter the Web3 area.

Ford isn’t the first automaker to enter the Metaverse market.

While premium automakers like Bentley and Lamborghini have already launched NFT collections, automakers including Nissan, Toyota, and Hyundai have indicated ambitions to enter the fast-expanding Metaverse market.

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ART & COLLECTABLES

Crypto-Vultures Profit from the Death of Queen Elizabeth

Only a few hours after the Queen’s passing, more than 40 meme tokens bearing her name have been released.

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Yesterday, according to Buckingham Palace, Her Majesty Queen Elizabeth II passed away. Although her loss triggered a global outpouring of sympathy and grief, it has also been exploited as a money-grab.

Elizabeth II, monarch
Grift endures eternally, but the Queen is gone.

There are over 40 meme coins on Ethereum and the Binance Smart Chain thanks to Queen Elizabeth’s passing (and at least one exploitative NFT collection).

While the news of the British monarch’s demise saddened people worldwide, cryptocurrency scammers took advantage of the occasion to launch dozens of meme coins with Queen themes on Ethereum and Binance’s BNB Chain.

Among the new crypto coins that were introduced are “Queen Elizabeth Inu,” “Queen Doge,” “God Save The Queen,” “London Bridge Is Down,” “Queen Grow,” “Rip Queen Elizabeth,” “Elizabeth II,” and “Queen Inu II.” Other tokens with the name of the next king, King Charles III, have also appeared. According to DexScreener, at least 40 separate meme coins appear to have been produced in the previous six hours.

The most liquid tokens, Save The Queen and Queen Elizabeth Inu, have already processed trade volumes of around $700,000 and $200,000 since their debut. At the time of writing, the price of Queen Elizabeth Inu is up 1,517%, while it has increased by 23,271% on Binance Smart Chain and 3,708% on Uniswap. Prices are incredibly unstable and exceedingly unlikely to persist.

The “Queen Elizabeth 69 Years NFT” NFT set has reportedly been produced. One image is said to represent each year of the Queen’s reign in the collection. The project’s aims should be questioned because Elizabeth II reigned for 70 years, not 69.

The crypto community, typically known for its gallows humor, mainly reacted negatively to the initiatives. When told about the NFT collection, NFT aficionado ThreadGuy said, “You’re going to hell.” Trader Byzantine General declared, “We’ve got to stop this crypto stuff.”

In 1926, Queen Elizabeth was born. She was the longest-reigning British monarch in history and passed away in Balmoral Castle at 96.

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ART & COLLECTABLES

One crypto sector, according to billionaire Chamath Palihapitiya, is experiencing a classic bubble cycle

One crypto sector may be going through a typical hype cycle, according to billionaire investor and software entrepreneur Chamath Palihapitiya.

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In a new episode of the All-In podcast, the CEO of Social Capital discusses the sharp decline in trading volume in the non-fungible token (NFT) market.

Palihapitiya offers Coachella and Burning Man as examples of major music festivals that strive to be distinctive but may wind up being mostly the same.

The billionaire contrasts NFTs and the overall art market with the two music events.

“I do believe that there is something going on; the simplest way to explain this is with the Burning Man/Coachella scenario. Many of these things are similar, but when some people approach anything new, they are too insecure to accept that it is similar to another item, so they spend a lot of time attempting to convince you that it is different. When someone says that a time is different, it’s probably not that different, as stated in the Warren Buffett quote, is an example. Or consider the other famous historical adage, “Things don’t always repeat in history, but they rhyme.”

All of this is meant to imply that, aside from major advances in science, not much new has been discovered recently. We keep repeating the same patterns, and one of them is the social capital that comes from making certain decisions and then having those decisions validated by others in order to feel valuable. And this occurred in NFTs, as well as, I’m sure, in the initial stages of several artistic movements. These events are more comparable than dissimilar because they have presumably occurred in a number of other markets as well.

Burning man and Coachella are same. The art market and NFTs are both the same. It doesn’t need to be unusual; you can simply appreciate it because you think it’s cool. I would just take it with a grain of salt and tell anyone who comes to you asking why it’s so different.

DappRadar reports that earlier last week, trading volume on popular NFT marketplace OpenSea reached a one-year low.

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