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ART & COLLECTABLES

With a planned community airdrop, the ‘ApeCoin’ related to the Bored Ape NFT ecosystem makes its debut

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#nft #nfts #apecoin

On Wednesday, a long-rumored crypto coin linked to the Bored Ape NFT community was revealed.

Following a post from The Block regarding some of the activities planned by Bored Ape developer Yuga Labs, including a planned token related to gaming and virtual experiences, ApeCoin ($APE) made its debut via a Twitter thread from the official Bored Ape Yacht Club (BAYC) account on Twitter.

A dedicated decentralized autonomous organization (DAO), as well as a supporting foundation, are essential components of the token. “The Ape Foundation is supporting ApeCoin DAO, which will enable the community to create blockchain games and services, hold events (in the metaverse or in real life), and generate digital and physical products…along with anything else you can think of.”

According to the BAYC explanation thread, the tokens in question will be distributed via an airdrop:

“62% of the total supply of ApeCoin is allocated to the ApeCoin community, a portion of which (15% of total supply) will be available to claim to start tomorrow at 8:30 am ET. The airdrop claim consisting of 15% of the total supply of ApeCoin will be made available to @BoredApeYC NFT holders (Bored Apes and Mutant Apes, as well as [Bored Ape Kennel Club] dogs paired with either #BAYC or #MAYC).”

“For everyone else who wants to ape in,” the discussion continued, “ApeCoin will be available to anyone and is expected to begin trading on major crypto exchanges soon.”

Sound Ventures’ Maaria Bajwa, Reddit co-founder Alexis Ohanian, Animoca brands co-founder Yat Siu, FTX head of ventures and gaming Amy Wu, and Horizen Labs president and general counsel Dean Steinbeck are listed on ApeCoin’s official website as members of a “special council” or board tied to the DAO. Following the announcement, Ohanian tweeted, “[t]his is the way.”

According to the website, there are 1 billion APE tokens in circulation. There will be 150 million tokens available for the airdrop, as well as 470 million for “DAO treasury and resources,” with 117.5 million released right away and 7,343,750 payouts every month for the next four years.

Yuga Labs’ four founders will receive 8% of the tokens or 80 million tokens. The website states, “Initial lock-up for 12 months, then 2,222,222.22 unlocked every month for 36 months.” Other allocations are being made with lockups to “launch contributors,” Yuga Labs, and the Jane Goodall Legacy Foundations.

Coinbase confirmed shortly after the publication of this article that it “would introduce support for APE with the Experimental label.” According to Coinbase’s website, “some tradable assets that are either new to our platform or have very limited trading volume compared to our broader crypto marketplace” fall under the Experimental category.

ART & COLLECTABLES

The Chainsmokers are the First in the Music Industry to Share their new Album Royalties with Fans via the NFT Drop

The famed music duo The Chainsmokers’ new album features an NFT giveaway, which provides 5000 fans a 1% royalty split.

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#nft #nfthours #chainsmokers #royalties #cut

The electronic music duo, The Chainsmokers, are best known for classics like “Closer” and “Paris,” but they’ve also established a reputation as Web3 pioneers. The most recent example is their new album “So Far So Good,” which will include a drop of 5,000 NFTs that will allow fans to share in 1% of the revenues.

This is the most high-profile case of musicians using NFTs to distribute royalties to fans to date. While artists such as Nas and Diplo have published royalty-generating NFTs for individual songs, this is the first time a band has done so for an entire album for free.

In an interview, Taggart and bandmate Alex Pall said that they chose their most devoted followers, of which 5000 will receive an NFT, by examining data from concert purchases, song streaming, and Discord engagement.

In this scenario, the NFTs will grant fans access to a members-only area of The Chainsmokers’ Discord channel and the opportunity to meet with the duo personally.

Those who get the NFTs will be notified when they receive a payment on a quarterly or semi-annual basis. If customers decide to sell the NFT, a smart contract (basically a computer program) will transfer 7.5 percent of the earnings to The Chainsmokers (one of the benefits of NFTs for artists is the opportunity to receive a share of secondary sales), which the duo plans to gift to the album’s songwriters.

The new record will be released on Friday, and the NFTs will be handed out on May 17. The Chainsmokers use Royal, a platform that uses the Polygon network and was behind Nas’ and other significant artists’ recent NFT drops, to distribute the NFTs.

The Chainsmokers claim to have arranged for the NFTs to be released in a fashion that does not require their supporters to have any crypto knowledge. While crypto enthusiasts can request that the NFT be sent straight to their Web3 wallet, beginners can request that Royal construct a wallet and rely on the site to display and store it.

To reduce fan friction, the duo has arranged for them to be able to acquire and transfer NFTs without incurring any transaction fees. So allow Royal to establish a wallet for them, which will be shown and stored on the site.

The music industry is entering the Web 3 era

The Chainsmokers aren’t new to the crypto industry, but this is their first time issuing NFTs. For years, the two have run an investment group that has sponsored various Web3 projects, including Royal, created by another artist, Justin Blau, aka DJ 3Lau.

According to Pall, Pall and Taggart first discovered bitcoin six years ago while playing a corporate gig for Google. A random guy approached their trailer during a break between scenes and gave them a blue streak about the revolutionary power of blockchain. This event convinced them of the technology’s promise.

Pall claims that they recognized right away how an immutable blockchain record might help them create new relationships with their fans and, potentially, solve the problem of secondary ticket sales. Scalpers (sometimes using bots) sweep up large blocks of tickets and resale them for an enormous profit, which has long irritated fans and singers alike.

Using NFTs on a blockchain can help bands avoid scalpers and ensure that resale earnings go to them or their fans.

The Chainsmokers are a rising number of musicians who have realized that blockchains can be a better alternative to traditional economic structures that include layers of attorneys and music industry middlemen.

Blockchain-based record and distribution platforms give musicians a new method to communicate with listeners and provide the most dependable approach for monitoring royalties, which has been a long-standing issue in the industry.

The Chainsmokers are eager to point out that NFTs and other blockchain-based technologies have yet to be demonstrated in the music industry. “Everyone is still trying to figure this out,” Taggart says.

However, the rising popularity of platforms like Royal, which just funded $55 million, and the growing number of prominent musicians adopting crypto suggest that Web3 is likely to be the way forward for the music industry.

If that’s the case, the NFTs linked with their record will be yet another win for The Chainsmokers, both as musicians and businesspeople. One of the duo’s other businesses is a successful tequila brand.

When asked how they got their entrepreneurial spirit, the duo praised Jimmy Buffett, claiming that the Margaritaville singer built a corporate empire by carefully selecting ventures that fit his brand and personality.

Pall remarked that the duo’s Web3 endeavors would come in handy if his stage appeal wanes. But, he joked, “I’m not going to look amazing in leather pants forever.”

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ART & COLLECTABLES

Madonna’s Nude NFT Debut Elicits a Range of Reactions from the Community

The community reacted to Madonna and Beeple’s latest NFT release in a variety of ways, from being inspired to criticizing the artwork’s “flaws.”

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#nft #nfthours #madonna #beeple #mothernature

Mother of Creation is a series of nonfungible tokens created by the queen of pop and record-breaking performer Beeple. It includes three NFTs titled Mother of Technology, Mother of Nature, and Mother of Evolution. The NFTs depict Madonna in 3D, giving birth to robot centipedes, butterflies, and plants.

While the markets were going crazy over stablecoins displaying instability, Madonna and Beeple thought it was time to show the community something even crazier: NFTs depicting a 3D model of the 63-year-old singer’s vagina. 

Following the release, the community reacted in various ways, with some being inspired and others criticizing the artwork. Emiko Inoue, a Twitter user, stated that the artwork is “the most motivating” and would “gladly buy one without thinking” if she could afford it.

Twitter user artbyjstelco, on the other hand, stated that he “totally despises” the artwork. Many aspects of the NFT were attacked, including how nature should “not wear make-up” and have “artificial tits and hair.” According to the Twitter user, giving birth is a painful process, and the artwork does not reflect this.

The NFTs are presently valued 28 Ether (ETH), which is around $56,000 at writing. The auction will conclude in 35 hours. The money raised from the drop will go to three separate charities that help women and children worldwide, according to the collection’s description on the NFT marketplace SuperRare.

Three-dimensional NFTs are becoming more popular. Sony announced a partnership with Theta Labs to launch 3D NFTs last week. This, according to the electronics company, illustrates the capabilities of its new product, the Spatial Reality Display. Users can examine objects in 3D on the monitor without having to wear standard 3D equipment.

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ART & COLLECTABLES

Lina Valentina’s NFT Collection “No More” was released to raise awareness about domestic violence

Since the outbreak of the war between Russia and Ukraine, the full usefulness of NFTs has been recognized as a revolutionary tool.

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NFTs have evolved from hype-driven collectibles to become a means of expression, making them more than merely an investment tool. With these NFTs, Lina Valentina’s latest collection wants to make a much more profound change.

People from all across the world who supported Ukraine did everything they could to help the country. The Ukraine NFT flag, for example, was broken down into 3,271 individual components and was able to raise $6.75 million for the country.

Today, the No More collection uses a similar method to raise awareness to a critical issue affecting women. The collection attempts to transmit the message of rejecting domestic violence around the world by using the power of web3 and NFTs.

Lina Valentina, one of the most notable feminist artists, discussed her NFT collection with Cointribune, which was developed to bring courage to those women who are still silent while enduring this awful violence.

Each of the collection’s 7,777 individual NFTs will reflect a feminine face – the aesthetic touch that made Lina Valentina renowned (primarily the mouth and the open zipper).

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