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ART & COLLECTABLES

Tezos Joins McLaren Racing as a Blockchain and NFT Partner

McLaren Racing has announced a multi-year technical agreement to develop the NFT fan experience platform on Tezos, an energy-efficient blockchain network.

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Tezos has been named as McLaren Racing’s Official Blockchain Partner in a new multi-year technological cooperation spanning Formula 1, INDYCAR, and esports, according to a press release.

McLaren will establish a non-fungible token platform with a focus on the fan experience, using the energy-efficient and upgradeable Tezos network.

Tezos NFTs

Tezos is an open-source asset and application blockchain that is constantly expanding and upgrading itself through efficient on-chain governance.

McLaren will create a specialized platform that will bring together its illustrious racing history and famous driver lineups across all of its teams to provide an unsurpassed NFT fan experience.

Tezos and McLaren believe that innovation is the key to long-term success. By embracing clean NFTs and energy-efficient networks, the impact of this new medium for sharing creative expression will not be diluted by excessive energy usage.

Tezos’ pioneering Proof of Stake mechanism is a substantially more energy-efficient technique to securing its network than typical Proof of Work blockchains, consuming two million times less energy than Proof of Work networks like Bitcoin and Ethereum.

This enables Tezos to run in an environmentally friendly manner, with little energy use and a low carbon impact.

Teams With Tezos Branding

Tezos will be represented across the McLaren Formula 1 and Arrow McLaren SP teams as part of the agreement, including on the race suits of McLaren F1 drivers Lando Norris and Daniel Riccardo, as well as AMSP drivers Pato O’Ward and Felix Rosenqvist.

“Tezos and McLaren Racing joining forces to build a unique fan-focused NFT platform is an exciting and quickly evolving industry,” said Lindsey Eckhouse, McLaren Racing’s Director of Licensing, eCommerce, and esports.

She went on to say that the new relationship allows McLaren to enter a market where fans can own essential components of the team, and that the firm is excited to launch the platform with Tezos to create bespoke NFTs with our Formula 1, INDYCAR, and esports teams.

In the meantime, Hubertus Thonhauser, Chair of the Tezos Foundation, issued the following statement:

“We are pleased that McLaren Racing has opted to extend their NFT fan interaction platform to the Tezos blockchain, as it has one of the longest and most prestigious legacies in Formula One racing.”

“Blockchain as a concept is changing, getting faster, more secure, and more efficient,” he continued. This necessitates a blockchain capable of keeping up with the current rate of innovation. Tezos, the first and fastest-evolving blockchain, stays at the vanguard of innovation, providing real-world solutions in a robust and fast-growing ecosystem as brands explore for new ways to engage with their fans.”

ART & COLLECTABLES

The Economist Magazine Intends to Offer an NFT of their DeFi Front Cover

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The venerable British journal The Economist has announced that the front cover of its September 18 edition will be auctioned off as a non-fungible token.

On October 25, the cover will be offered, which imitated an Alice in Wonderland scene by placing Alice and the white rabbit on the verge of a rabbit hole filled with tokens. With the support of the platform Foundation, it was turned into an NFT.

The auction will be the first time The Economist has offered an NFT for sale, but it isn’t the first time a big journalistic organization has done so. In March, a New York Times column was purchased for a stunning $560,000. Twitter postings from the past have also been coined and sold as NFTs for astronomically high prices.

According to a press release from The Economist, the goal is to demonstrate the potential of decentralized technology.

The Economist Educational Foundation (TEEF), an independent charity focused on news, will receive the proceeds from the sale, minus fees, transaction costs, and taxes. In addition, the magazine will keep 10% of the royalties produced by future secondary sales of the NFT, with the money going to TEEF.

Justin Metz, a British artist, created the artwork for the DeFi cover, captioned “Down the rabbit hole: The promise and hazards of decentralized banking,” with help from The Economist’s cover designer Graeme James.

“By selling our ‘Down the rabbit hole’ cover as an NFT, we are now, in our tiny way, going down the rabbit hole ourselves, in a fun experiment that will hopefully help earn money for a great cause,” Alice Fulwood, the magazine’s financial correspondent, said.

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ART & COLLECTABLES

A Record-breaking $2.7 Million was Paid for a Crowned Bored Ape with Psychedelic Fur

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Last night, a record-breaking 696.969 ETH ($2.7 million) was paid for Bored Ape #8585. That is the highest price ever paid for a Bored Ape.

This NFT is part of the Bored Ape Yacht Club collection, which includes a variety of apes in various expressions and clothes, some of which are more unusual than others.

This sale follows a series of high-priced Bored Ape sales. In addition, two other sales over $1 million have occurred in the last 20 days, one for a Bored Ape with psychedelic fur and the other for a robot ape with cybernetic eyes.

In addition to Bored Ape #8585, the customer just purchased a few other NFTs. A Fidenza — one of the Art Blocks Curated NFTs — and two CryptoPunks were among the items sold for 200 ETH ($775,000). For 155 ETH ($600,000) and 265 ETH ($1 million), the CryptoPunks were purchased.

The customer spent a total of $5 million on the JPEGs, and they still have $1 million in ETH in their wallet.

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ART & COLLECTABLES

Martha Stewart is now Selling Ethereum NFTs, as well as Carving CryptoPunks into Pumpkins

Another business venture for the lifestyle entrepreneur is festive Ethereum NFT collectibles.

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Television personality and lifestyle entrepreneur Martha Stewart has made a name for herself in various artistic and business endeavors, including books, publications, home furnishings, and packaged foods. Now she’s taking her business to a brand-new medium with a burgeoning market: NFTs.

Stewart today announced the launch of Fresh Mint, an online portal dedicated to NFTs. The Ethereum-based NFTs were developed in collaboration with Tokns Commerce. While they are shown on the Fresh Mint website, sales and auctions are conducted on OpenSea, the premier NFT marketplace.

An NFT is a receipt for a rare digital item, showing ownership of a one-of-a-kind work like a photograph, illustration, video file, or video game object. So far in 2021, the NFT market has exploded, with $10.67 billion in trading activity in just the third quarter.

The majority of Stewart’s first NFTs are Halloween-themed, featuring handcrafted pumpkin-centric crafts or photos of Stewart in custom-made costumes, leveraging her reputation for crafting lifestyle creations and festive moods.

Along with a signed message from Stewart, the drop includes several “Carved Collection” auctions for images of one-of-a-kind pumpkin carving artwork (done by Maniac Pumpkin Carvers).

Collectors can even bid on the chance to have their favorite NFT avatar carved into a real pumpkin from collections like CryptoPunks, Bored Ape Yacht Club, or Pudgy Penguins. The winner of those auctions will not only receive an Ethereum NFT of a photo of the pumpkin, but they will also receive the actual pumpkin.

“Throughout my life, I’ve been so lucky to collaborate with talented artists, creators, and entrepreneurs,” Stewart said in a statement. “I see NFTs as a new canvas for creativity and blockchain as a vehicle to safeguard artists’ intellectual property while also supporting their wonderful work,” says the author.

Snoop Dogg, who recently stated that he has been accumulating rare NFTs under the identity Cozomo de’ Medici, is a friend and frequent collaborator of Stewart’s.

Snoop, who now has a CryptoPunk as his Twitter profile photo, has posted a couple of Cozomo’s recent NFT acquisitions, including a $3.9 million piece from XCOPY and a CrypToadz avatar, since last month’s announcement.

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