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ART & COLLECTABLES

The Original Doge NFT Meme, Valued at $4 Million, was Auctioned Off in 17 Billion Pieces

PleasrDAO will issue fractionalized ERC-20 tokens called “$DOG” to provide exposure to the Doge NFT.

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The $4 million NFT portraying the original Doge meme will be fractionalized and auctioned off in pieces.

On June 12, Atsuko Sato, the owner of the Shiba Inu portrayed in the popular meme, sold the Doge NFT to PleasrDAO, an art-focused decentralized autonomous organization, for 1696.9 Ether, or $4 million.

PleasrDAO will begin offering exposure to the Doge NFT on September 1 at 5 p.m. UTC through a fractionalization that will see the nonfungible token split down into 16,969,696,969 ERC-20 tokens named “$DOG” starting at 5 p.m. UTC.

According to PleasrDAO’s blog, 20% of the entire $DOG supply will be available for purchase first, with the sale taking place on Miso, an open-source smart contract platform.

AFTER THE LAUNCH, $DOG will be available for trading on fractional.art and decentralized exchanges (DEXs) like Uniswap and SushiSwap. The $DOG tokens’ concept is predicated on their price rising in tandem with the value of the original Doge NFT.

Holders of $DOG will also be able to vote on what they think the original NFT’s value should be, which will be re-auctioned at a later date chosen by the PleasrDAO community.

“We will not put The Doge NFT up for auction until we are confident that $DOG has reached full meme escape velocity and is accompanied by a large, thriving community,” the blog post stated.

The regulatory structure governing fractionalized NFTs, on the other hand, looks to be in a state of flux. In March, SEC commissioner Hester Peirce, often known as “Crypto Mom,” warned NFT issuers that offering “fractional interests” could be seen as investment products:

“Make sure you’re not making something that’s an investment product — something that’s a security.”

Doge is attracting top talent

Japanese-American tennis player Naomi Osaka told Bloomberg on Aug. 31 that she was thinking about investing in cryptocurrency after DOGE aroused her interest in other doge-related news.

Osaka’s agency advised investing in cryptocurrency, but she said she had already begun learning about it after watching all of the hoopla surrounding DOGE on social media.

“I was just talking about bitcoins with my agent,” Osaka explained. “I’m aware that everything is getting bigger online. I recall hearing about Dogecoin… There will be something new and exciting that will emerge.”

The 23-year-old has won four Grand Slam titles in a row and has already dabbled in the NFT arena, collaborating with Tom Brady’s Autograph platform to release a series of tokenized artifacts late last month.

ART & COLLECTABLES

Salvatore Ferragamo, an Italian luxury brand, has an NFT booth in SoHo

Customers can create and mint their own Ethereum-backed non-fungible tokens (NFTs) on OpenSea at a booth set up by Salvatore Ferragamo, an upscale clothing company with its headquarters in Florence, New York.

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The Salvatore Ferragamo concept store in the city’s SoHo neighborhood opened its doors on Friday, and the booth is a part of a bigger debut of the business. All visitors are eligible to receive free NFTs, which are limited to 256 in total. The brand will pay all associated costs up front to mint an NFT.

For the launch, the company is collaborating with artist Shxpir, who has previously created holographic handbags for businesses like Coach. Shxpir has produced 3D digital graphic elements for the NFTs for Salvatore Ferragamo.

Just one day after NFT, there will be a launch.

After a week of discussions about how fashion businesses may tap into the Web3 and NFT arena, NYC, a conference about non-fungible tokens in Times Square, comes to an end. Famous companies have lately debuted their own NFT collections, including Gucci, Prada, Bulgari, and many others.

Salvatore Ferragamo has previously entered the online space.

The company collaborated with Obsess, a virtual and augmented reality software platform that aids businesses in the establishment of interactive online storefronts and virtual experiences, last year. Customers could explore a virtual mansion that featured Ferragamo goods at the online store dubbed “House of Gifts.”

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ART & COLLECTABLES

The crypto decline may be used by Binance to increase its market share in NFT

Football fans will soon have the opportunity to buy “an iconic piece of sports history” thanks to a collaboration between Cristiano Ronaldo and Binance.

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CR7 is starting to participate in NFTs.

The football phenom revealed his exclusive collaboration with Binance today. The multi-year contract, according to Ronaldo, will provide fans the chance to “own an iconic piece of sports history” and take part in his Web3 community.

In a video, Ronaldo stated, “Today we are going to transform the NFT game and move football to the next level.”

The Binance-controlled exchange and the Binance Smart Chain are two of the largest elements of one of cryptocurrency’s largest ecosystems (BSC). With 407 different protocols built atop it and $5.92 billion in value locked, BSC is the second-most used blockchain (after Ethereum).

Binance has had trouble creating a thriving native NFT ecosystem despite these great figures. With only $79 million in total trade volume, PancakeSwap, the decentralized exchange and flagship protocol of Binance, ranks twenty out of the NFT markets (OpenSea and LooksRare, two Ethereum marketplaces, had respective trading volumes of $31.24 billion and $23.23 billion).

Therefore, the alliance with Ronaldo might be interpreted as an effort by Binance to add value to BSC and start growing the NFT market share of the blockchain. On this retweet of the formal announcement, Binance CEO Changpeng Zhao “CZ” may have hinted as much: “Now, we start.”

This week saw the announcement of several noteworthy NFT partnerships, such as Pharell Williams’ recent appointment as Chief Brand Officer for the Doodles line.

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ART & COLLECTABLES

NHL Opens Hockey Collectibles NFT Marketplace

The NHL, along with its Alumni Association and Players’ Association, said on Thursday that it has joined with NFT platform Sweet to build a distinctive NFT marketplace and libraries of NFTs—individual blockchain tokens that denote ownership.

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The NHL’s market will fall between a full-fledged NFT trading platform and a website that enables momentary NFT drops, according to David Lehanski, the league’s executive vice president of business development and innovation.

By creating an NFT marketplace with exclusive releases, the NHL hopes to give fans a little bit of both. In preparation for the commencement of the 2022–2023 season, the NHL’s Sweet marketplace is anticipated to launch in October.

The NHL aims to gamify NFTs with “questing and collecting” components so that fans will interact and can be rewarded with benefits like other NFTs, according to Lehanski, who spoke to Decrypt.

Depending on a player’s performance, some of the NFTs will also be dynamic and alter over time. According to a statement, NFTs will also include “cinematic game highlights from past and present NHL seasons” or surprise packs of NFTs that may be seen in “3D interactive trophy rooms.”

Lehanski claimed that the NHL wasn’t yet ready to reveal which blockchain it would be constructing on. Though it might be on Polygon or Tezos if Sweet’s offerings are any indicator.

Lehanski stated, “We’re looking at everything,” and that the NHL’s top priorities in its search for a blockchain include “cheap gas expenses” and “environmental sustainability.”

The NHL is one of the most recent major professional sports leagues to enter the NFT market, following the NBA’s Top Shot NFTs, the NFL’s “play and own” NFT game, and MLB’s impending NFT contest.

Lehanski commented on the NHL’s approach to NFTs, saying, “There was clearly a lot of temptation to potentially moving very rapidly […] but we thought that was a little shortsighted.” He added that, in his opinion, spending the time to investigate indicators like fan behavior was worthwhile. Especially in relation to digital collectibles and gaming, NFTs have a long-term future as relevant and meaningful items for enthusiasts.

But according to Sweet CEO Tom Mizzone, the NHL’s NFTs won’t simply be targeted at hockey fans who are unfamiliar with cryptocurrencies; seasoned NFT collectors will also be able to participate in a way that feels natural to them.

It will undoubtedly appeal to that degen culture, he continued, but not to the extent that it excludes fancier consumer bases.

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