Samsung Metaverse, Veefriends Toys, OpenSea NFT Music
Yesterday’s Market Moves
BTC
S&P
WTI
21,047.60 |
+ 1.56%
3,900.11 |
- 0.30%
111.29 |
+ 1.57%
The markets are showing more encouraging signs to set the backdrop for this issue. A popular NFT collection is making its debut as a toy, the world’s biggest social media platforms are supporting NFTs, and there’s a new metaverse unicorn amidst a flurry of cash betting on the future of the NFT space. 🤑 What a week! 🤯
Read the full issue to find out
Market

Over the third quarter of 2022, total sales of NFTs amounted to $3.4 billion, according to data from DappRadar. This represents a drop of more than half from the previous quarter’s $8.4 billion, and nearly two-thirds from the first quarter peak of $12.5 billion in total sales.

NFTs are still selling by the millions though, despite the lower price point and declining ETH value. 8.78 million NFTs were transacted in September, up from 7.68 million NFTs in August and 5.89 million in July. It’s the third-highest monthly total so far in 2022, with January still on top with 12.16 million NFTs sold.

OpenSea’s once-firm grip over the NFT market is also loosening. OpenSea’s $350 million worth of September trading volume still tops rivals, but the second biggest Ethereum marketplace X2Y2 is coming up close with $297 million worth of organic volume. Magic Eden, the top Solana marketplace, had $127 million worth of volume in September.

In Other News,
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Headline
VeeFriends toys coming to Macy’s, Toys'R'Us

Entrepreneur and investor Gary Vaynerchuk’s hand-drawn VeeFriends doodles went from paper to NFTs, yielding more than $300 million worth of trading volume and leading to a Christie’s auction, brand partnerships, and May’s VeeCon convention. Now Gary Vee’s characters have been turned into toys that are coming to America’s top department store chain.

VeeFriends will debut plush and vinyl toys later this month through Macy’s and its Toys”R”Us brand, which is relaunching within all Macy’s locations in the United States. The toys are based on 10 total VeeFriends characters from the broader NFT collection, and were designed in collaboration with toy and entertainment startup Toikido.

The first run of toys will be available for sale starting October 17, and will also be available via the Macy’s and Toys”R”Us websites, as well as the VeeFriends website.

In Other News,

  • Facebook and Instagram users can now share NFTs. Read More
  • Three Arrows Capital fund moves over 300 NFTs to a new address. Read More
  • Latin Grammy Awards to Launch NFT Collections in Partnership with One Of. Read More
  • NFT Firm Seeks US Election Commission’s Approval to Market Campaign Souvenirs. Read More
In Other News,
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Metaverse
Samsung Latam launches 'House of Sam' metaverse experience

Samsung Latam, the Latin American regional division of the electronics company, has decided to dedicate an online space to increasing the visibility of its brand in the metaverse. The company will maintain a space called “House of Sam” in Decentraland, one of the biggest Ethereum-based metaverse platforms.

According to reports, the goal of this move is to bring the brand closer to a new generation of consumers using the metaverse as a tool. The space is already open for users, being launched on September 1 with a virtual show from the Brazilian trio, Melim.

About the launch of this new digital space and its objectives, Arthur Wong, marketing director for Samsung Latam, stated: Our customers will be able to interact with each other and participate in exclusive shows, courses, and events that we will offer for free at Decentraland, one of the most democratic and open spaces in the metaverse. Our goal is to be ever closer to Gen Z, our younger consumers who no longer draw boundaries between what is physical and what is virtual.

In other headlines,

  • UPS Launches A Metaverse Location In Decentraland. Read More
  • SHIB Metaverse Team Reveals Crucial New Update. Read More
  • UAE sets up economy ministry in the metaverse. Read More
  • Japan to Invest in Metaverse and NFT Expansion. Read More

In Other News,
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Fundraising
Improbable raises $100m at a $3bn+ valuation

London-based metaverse startup improbable is on track to close a $100m (£88m) fundraise at a valuation of more than $3bn (£2.64bn) as the company seeks profitability. Founded in 2012, Improbable develops metaverse infrastructure that allows game developers, academic institutions, businesses, and other enterprises to create their own virtual worlds.

Improbable’s co-founder and CEO Herman Narula recently stated that the company’s revenues should triple to more than £100 million ($114 million) this year. “We are now a financially sustainable business with a really interesting growth rate because we found product-market fit in a new sector,” he said in a recent interview.

The company has inked a deal with Yuga Labs to build the Otherside metaverse, which will form a big part of its revenue. Improbable also works with both the UK and the US militaries, which use simulations for training purposes.

In other headlines,

  • Ubisoft, Take-Two Back Ethereum NFT Game Maker Horizon in $40M Round. Read More
  • OpenSea Backs Latin American NFT Marketplace Minteo in $4.3M Raise. Read More
  • NIFTY Souq, MENA’s first NFT marketplace, secures $1.5 mln investment. Read More
  • Decentralised Music NFT Platform Stems Raises $4M Pre-seed Funding. Read More
In Other News,
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Quiz Answer
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