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The Oscars Scandal Propels NFTs Into the Mainstream Headlines

Oscars quickly turn into a disaster after an NFT of the late actor was created on top of the fact, that he lost an already expected award.

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The Academy Award nominees did not have to win an award to walk away with a trophy at the 2021 Oscars, which were held on Sunday. NFT for Chadwick Boseman’s 3D art was placed in gift bags with other items during a gear change.

However, what seemed to be a thoughtful gesture soon devolved into a scandal.

Why Didn’t Chadwick Win?

Many people had slammed the decision to make an NFT of Boseman before the prize. Commentators have pointed out that this step further commodifies Boseman, who died of colon cancer at the age of 43 in August 2020. For his performance in Ma Rainey’s Black Bottom, Boseman was nominated for an Academy Award for Best Actor.

In response to the critiques, Andre OShea, one of the artists who designed the NFT, wrote on Twitter. He said that the NFT piece was created in memory of Boseman, with half of the proceeds going to the Colon Cancer Foundation. He wrote:

“The best way to immortalize an artist is to pay tribute to them through art. One of the most difficult and satisfying experiences I’ve had as an artist has been bringing this piece to life… I want to emphasize the significance of this because it is a barrier that no black artist in the NFT has yet to overcome. With this piece, we have the chance to make REAL history.”

Many people thought the Academy Awards will follow suit after Boseman won best actor at the Golden Globes, Critics Choice Awards, and Screen Actors Guild Awards. Anthony Hopkins won the Academy Award for Best Actor in a Leading Role for his performance in Florian Zeller’s “The Father,” making him the oldest actor to ever win an Oscar.

NFTs have become increasingly popular in recent months, so it’s no surprise that one is now being used to honor Boseman. With a purchase price as high as $1.2 million, it’s unclear how high the auction will go in the coming days.

Many people were shocked by Chadwick’s defeat at the award show. In a break from tradition, the Academy Awards presented the Best Actor award last in the telecast. Despite hopes, then went on to present the award to another star. What started out as a fun show quickly devolved into a disaster.

The NFT of Boseman will be redesigned

The NFT felt like a slap in the face after Boseman’s loss. Many people took to social media to share their displeasure with the fact that his face was still on every gift bag even after his death.

Andre Oshea announced the redesign on Instagram, apologizing for any “upset caused.”

He wrote, “I now know that Chadwick’s face is a triggering reminder of his death, not his life.”

The revamped piece will be auctioned off on Tuesday via the NFT marketplace Rareable, where it is expected to fetch more than $1 million. In honor of Boseman, half of the proceeds will be donated to the Colon Cancer Foundation.

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ART & COLLECTABLES

A YouTuber has Exchanged his Tesla Roadster for an NFT

“Looking back in a year, two years, or three years, this could be a monumentally idiotic decision, but it could also be a fantastic decision,” Dan Markham said.

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Dan Markham, the creator of the What’s Inside YouTube channel with seven million subscribers, has swapped his Tesla Roadster for a single nonfungible token.

Markham traded a blue Tesla Roadster — which he claimed may be worth “a quarter-million dollars pretty soon” — for a nonfungible token of a “positive porcupine” in a video posted to his What’s Inside Family channel on Sept. 15. The NFT was created as part of the VeeFriends project and is owned by Eli Burton, the creator of the graphic novel The Adventures of Starman.

“Looking back in a year, two years, three years, it may be a monumentally idiotic decision, but it could also be a fantastic decision. I feel these automobiles will hold their worth for a long time, and I am a firm believer in NFTs.”

YouTuber added:

“It’s a picture for a car — clearly he’s getting the better end of this deal.”

Before learning of Markham’s offer, Burton said he had planned to sell the digital painting for more than $100,000. But, according to the graphic novelist, trading the NFT for the car was “as simple as supply and demand,” as there were 10,000 tokens available at a starting price of $60,000 apiece. VeeFriends has a list of 40 porcupines that seem alike in a range of settings.

“Having it makes practically no difference in terms of money – whether it’s in a collector automobile or a collectible NFT — it’s still collectible,” Markham said.

Even though the two collectors exchanged NFTs on the blockchain, the transaction was primarily conducted in the real world, with Markham physically handing Burton the Tesla’s paper title and key. The porcupine is presently listed on OpenSea with a top bid of 16.339 Wrapped Ether (WETH) — around $56,445 at the time of publication — but Markham stated that he intends to keep the NFT in order to obtain access to a VeeFriends token holders-only conference.

NFTs have also been linked to physical collectibles by certain cryptocurrency users. For example, in July, an entrepreneur held simultaneous auctions for an Apple co-founder Steve Jobs job application and an NFT. The actual paper sold for $343,000, while the NFT received a final bid of 12 Ether (ETH), or $27,460 at the moment.

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ART & COLLECTABLES

NFTs Inspired by Freddie Mercury is Being Released to Benefit an AIDS Charity

On the 75th anniversary of his birth, the renowned musician is honored with a special NFT collection.

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Four digital collectible artworks inspired by the late Freddie Mercury will be auctioned soon. On what would have been the singer’s 75th birthday, the auction will take place.

Blake Kathryn, Chad Knight, Mat Maitland, and MBSJQ contributed artwork to the collectibles. SuperRare, a digital art marketplace, will host the timed auction. It will go live on September 20th and will last 75 hours, according to the organizers.

Furthermore, the auction earnings will benefit the Mercury Phoenix Trust, an AIDS charity. The nonprofit was formed in remembrance of the singer by Queen band members Brian May and Roger Taylor and band manager Jim Beach.

Three of the NFTs in the collection feature images of the performer himself. The fourth image depicts a white grand piano with a crown on the seat and a goldfish pond in the background.

Both SupreRare and the charity linked the effort to Mercury’s inventiveness in a joint statement. “When Freddie Mercury died, he left the world an obvious artistic brief. ‘You can do whatever you want with my work as long as you don’t bore me.’

NFT Commemorations

The popularity and activity of the NFT market has exploded in the recent year. These digital collectibles took over key mainstream industries, resulting in the emergence of a digital metaverse. Some, such as Tether’s co-founder, predict that in the future, “every consumer product will have an NFT.”

Like the Freddie Mercury NFT, various examples of this technology have been deployed in space for commemorative and charitable objectives.

Beeple, a well-known digital artist, sold an NFT for $6 million and donated the earnings to the OpenEarth Foundation. Pele, a Brazilian footballer, also sold NFTs as digital trading cards and donated the proceeds to his charity.

NFTs also allow for the creation of a digital capsule or a remembrance of something or someone. For example, Russel Simmons and Snoop Dogg just released an NFT anthology honoring hip-hop music pioneers. Never-before-seen artwork and music from industry giants were featured in The Masterminds of Hip Hop.

Commemorative NFTs are popular outside of the music industry as well. Unreleased images of Kobe Bryant were put up for auction as NFTs in August. Bryant was photographed while he was an 18-year-old basketball player.

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ART & COLLECTABLES

Do you Aspire to be President? You Can Now Purchase the White House as a Virtual Property NFT

For decades, the White House has served as a symbol of the American people and democratic values. Until today, the public could only fantasize about possessing an actual model of the White House for their house. However, you may now own a piece of history—as well as home decor—by purchasing an NFT powered by Next Earth.

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Who is the owner of a piece of history?

Many well-known landmarks have historical significance for the cities in which they are located. Maybe one day, you’ll be able to “purchase” a section of the Great Wall of China or a space on Mount Rushmore. The public, however, now has that ability with the purchase of an NFT on Next Earth. Likewise, on the Ethereum blockchain, you can own land tiles of the White House by simply picking them from a map of the world.

What is the value of it? No one knows how the digital real estate replica phenomena will develop because the notion is still in its early stages. Virtual properties, on the other hand, have been sold for large sums in past virtual worlds. As a result, it’s possible that an NFT version of the White House could one day be sold for a considerable sum—much like a house—in the future.

Putting Together a Virtual Real Estate Portfolio

Although the White House serves as the residence of the President of the United States, it is also a significant piece of real estate. The same may be said of numerous famous properties worldwide, whether or not they are political milestones.

Take a glance at any large city on the earth, and you’ll see that it has its own set of valuable assets, whether virtual or tangible. Furthermore, because you can develop nearly anything on land, it is the place to be.

So, what if you could purchase a plot of land in a major city? In a world where everything is now a piece of digital real estate, a plot of land that would be yours to develop – yours to do with as you please? That is precisely what Next Earth is constructing.

The Metaverse’s Implications

The White House NFT is just one of several high-profile real estate properties available for purchase in the metaverse. The metaverse represents the ability to own digital real estate in virtual environments. Virtual real estate can be owned, developed, and monetized in the metaverse.

We’ve already seen many significant business leaders tweet about buying NFTs and other virtual real estate assets in the metaverse, such as sports memorabilia. As more organizations and individuals get on board with investing in digital real estate, this trend will only continue to increase.

The Metaverse in the Future

These days, the metaverse craze is all the rage, and virtual real estate is no exception. One of the metaverse’s possible futures is similar to Ready Player One but without the dismal components. Virtual real estate based on NFT is already a reality, and Next Earth is leading the way.

Second Life and The Sims were among the first to provide Metaverse 1.0, which is a centralized virtual world that you can explore, construct, and play with. But, of course, at the end of the day, the centralized firm in the middle would be in charge of your assets.

For the first time, Metaverse 2.0 integrates blockchain technology with a digital duplicate of Earth, allowing users to hold rare digital assets that can be brought to life. Within the metaverse, users form communities that provide chances for interaction with other users and the construction of virtual structures.

Metaverse 3.0 is the way things will be in the future: It’s a hybrid of virtual reality, metaverse 2.0, and blockchain technology. This is a digital rendering of what our home planet would look like if we turned it into a virtual reality experience. People will interact with the real world via digital avatars, communicate as if they were in person, and construct virtual reality-only objects. The infrastructure required for this new version of the metaverse to operate safely, securely, and transparently is provided by the blockchain, the technology that allows bitcoin to act as money rather than merely a digital currency.

In their metaverse, Next Earth is now selling virtual land tracts. The NFT-based metaverse is already an amazing development and yet another illustration of how blockchain and NFTs are transforming our lives, with more intriguing innovations in the pipeline, such as pixel-based land art.

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