Today was a very busy day in the NFT industry with several hot stories hitting the tape. Here are some of the most exciting stories in the space:
Bored Apes Continue the Party: APE FEST Isn’t Over Yet
In the first Meta Masters Media News exclusive of the day, titled “Bored Apes Continue the Party: APE FEST Isn’t Over Yet,” We cover what’s happening in APE FEST 2021. The event started with a splash on Halloween when the streets were packed with Bored Apes enthusiasts looking to get into the first event, a gallery style event.
Later that night, the Apes found their way to the Hudson to try and claim their spot on a real-life yacht for the Bored Apes Yacht Party.
While there aren’t any events going on today as the community takes a break, you haven’t missed your opportunity to get in on the party. APE FEST continues in full swing tomorrow, November 2, 2021 with multiple events lined up for enthusiasts.
Not only is APE FEST a massive party that all NFT enthusiasts seem to want to get in on, it serves as a source of validation for just how much of a pivotal shift this technology represents. Never as a collectible led to such a massive community of enthusiasts meeting, greeting, and sharing good times in the real world!
The GRAMMYs Go Web3
In the next Meta Masters Media exclusive, you’ll learn about the fact that the GRAMMYs, the world’s most popular entertainment awards platform, is breaking into the Web3 world. That’s right, the Award show will soon come with its own NFTs.
While not much has been shared about the NFTs, we do know a few things. First and foremost, the art that accompanies the tokens will be created by world-famous digital artists. Moreover, the NFTs are being designed to commemorate the awards ceremony itself as well as the nominees and award winners.
The rest of the details of the collection are expected to be released in January of 2022 ahead of the GRAMMYs, which will take place on January 31, 2022.
Nonetheless, the fact that such a big name in entertainment is getting involved in NFTs goes to show how deeply ingrained these digital collectibles have already become in the world of entertainment. As big names continue to dive in, the value of NFTs as a fundamental shift in arts and entertainment simply can’t be ignored.
Here’s Why a CryptoPunk Sold for $530 Million
The biggest sale in NFT history, and even art history for that matter, took place last week when news hit the tape that a CryptoPunk sold for more than half a billion dollars. This article on CoinDesk outlines the sale, which seems to be a publicity stunt.
In short, the transaction seemed to take place as a result of multiple flash loans, which were used by the buyer to raise 124,457.07 ETH for the purchase. The purchase was made with the buyer essentially buying the Punk from himself and the loans were paid off. All told, the ruse cost about $800 in fees and raised some serious eyebrows.
While this transaction seems to be a stunt, there’s no denying the fact that NFTs come with significant value. Multiple digital collectibles have sold for millions of dollars, with a handful selling in the tens of millions.
How Four NFT Novices Created a Billion-Dollar Ecosystem of Cartoon Apes
Bored Apes are all the rage in the NFT industry with several renditions of these unique tokens selling for hundreds of thousands, and even millions of dollars. However, you might be surprised to find that the creators of the popular digital collectibles started their journey as NFT novices; especially when you consider the massive amounts of money they’re spending on APE FEST as we speak.
This story on Rolling Stone outlines the fact that four novices worked together to launch an NFT collection known as Bored Apes last year. The collection featured 10,000 unique cartoon apes, each with different facial expressions and apparel. Today, the Bored Ape ecosystem is worth over a billion dollars, and seems to be growing in value.
This story follows the journey of the creators of the Bored Ape Yacht Club and outlines the most crucial steps they took to turn their art into a billion-dollar ecosystem.
The company behind ‘Law and Order’ is bringing its storytelling savvy to NFTs
Finally, in this article on FastCompany, the author outlines the fact that Wolf Entertainment, the company behind multiple popular hits, including Law and Order, is in the process of developing its own NFT murder mystery game.
The game, known as Wolf Society, is a membership-based society for online detectives. The goal is for the game to launch at the end of November. According to various reports, the site will be accessible on Curio, an NFT marketplace that was built on the Ethereum blockchain.
The creator of the concept said that the concept is similar to the Bored Ape Yacht Club. The comparison was made because if you go to the site, but don’t own an NFT, you’ll only be able to see the public-facing side of it. However, members will be able to access a website with more depth and gain access beyond the gated wall of the clubhouse.
The Bottom Line
The bottom line here is simple. The NFT industry is picking up steam in a big way. Not only are Bored Apes a hot commodity, the GRAMMYs and other big names are diving in, bringing this technology to life!