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ART & COLLECTABLES

The Ethereum Metaverse’s NFT Real Estate Sells for a Record $913K

For Ethereum-based open world crypto metaverse game Decentraland, Republic Realm establishes a new all-time high-value LAND sale.

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In the open-world metaverse game Decentraland, a virtual plot of land sold as an NFT for a record amount: more than $913,000, based on the price of the game’s Ethereum-based MANA money at the time.

For 1,295,000 MANA, the estate NFT, also known as a LAND token in the game, was sold. According to NonFungible’s data, this is the highest-valued LAND sale to date in terms of money. However, sales for greater MANA have occurred in the past when the currency was significantly less valuable. In November 2018, the record was set with 2,772,000 MANA, which was valued little under $211,000 at the time.

Republic Realm, a firm that invests in virtual real estate in crypto games, has claimed the new record purchase. Republic Realm is a division of Republic, an online investment platform that itself has notable investors, including AngelList, Binance, and Galaxy Interactive. Republic Realm has not yet disclosed how it plans to utilize the Decentraland estate, which is located in the game’s Dragon Kingdom district.

The business tweeted, “We can’t wait to disclose our enormous plans for this estate.” “We are more committed than ever to constructing and expanding the metaverse.”

Decentraland is an Ethereum-based online metaverse where players can freely explore the realm, engage with other players, and play games. The 3D game resembles a hybrid of virtual world pioneer Second Life and blocky sensation Minecraft, but with a blockchain-based twist of actual item ownership and a player-driven economy.

Decentraland isn’t the only blockchain-based game that revolves around digital land plots marketed as NFTs. Other Ethereum-based games that have made millions of dollars selling virtual real estate include The Sandbox and Axie Infinity.

In this example, Decentraland shattered an estate sale record set only a few weeks prior. Boson, a blockchain protocol, said earlier this month that it had purchased a Decentraland estate in the game’s valuable Vegas City sector for roughly $704,000, with ambitions to develop a virtual shop to market its decentralized infrastructure products.

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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