The first month of January 2023 is nearly behind us. It’s been an exciting month in the metaverse that seems to be ending with a bang. This week, Amazon announced an NFT initiative that will be coming in Spring, the Porsche collection that flopped during the mint is picking up some serious pace, and Doodles 2 is coming soon to the Flow blockchain. Here’s what’s going on.
Amazon NFT Initiative to Drop In Spring
Earlier this week, Amazon announced that it would be diving into the crypto industry in Spring, but not with cryptocurrency. The eCommerce leader announced that its move would be toward non-fungible tokens (NFTs).
The news came out in a Blockworks report that explained the company’s plans to launch an NFT initiative this spring. According to various sources, Amazon has been exploring the launch of digital assets across its primary platform.
This could be huge news for the metaverse as a whole. After all, as Amazon breaks into NFTs, the move will act as a source of validation for the value of these digital assets.
Porsche Collection Picks Up Pace
In other news, Porsche seems to have learned an important metaverse-related lesson – supply and demand matters. The German automobile maker recently launched a collection of NFTs. However, the launch fo the collection flopped.
The company faced quite a bit of criticism after launching a mint where it would allow collectors to mint 7,500 digital tokens at a floor price of 0.911 ether. Unfortunately, the plans didn’t work so well and Porsche halted minting at 2,363 tokens.
However, everything seems to be working out in the secondary market now that supply has been minimized. The current floor price for the collection is 3.3ETH, o more than $5,000, and trading volume has climbed to over $2 million.
Doodles 2 Coming Soon to Flow
Doodles is one of the most popular NFT collections to ever hit the metaverse. The collection currently lives on the Ethereum blockchain. However, news broke that the Doodles 2 drop will be on the Flow blockchain.
Doodles said it would launch Doodles 2 on the flow blockchain due to the customization element. Doodles 2 will allow for unlimited customization, which can become overwhelmingly expensive with Ethereum gas fees.
We’ll See You Next Week
That’s it for this week. Come back next Friday for the top stories in the Metaverse.