It’s been a long week for the NFT market. There was a lot of gossip around potential hackers. Dapper Labs has raised another round of capital and Bored Ape has signed an agency deal. cryptocoin.com We take a look at the last seven days of activity on NFT projects.
Snoop Dogg, a mysterious NFT collector?
It’s been a pretty interesting week for Snoop DOGG. It all started with the suspicion that Snoop was Cozomo de’ Medici, an increasingly well-known NFT Twitter personality. According to NFT expert Taylor Scott, he’s dealt with NFTs before, so it definitely makes sense. Cozomo’s OpenSea account reportedly has an account value of north of $17 million. At the end of the week, Snoop had partnered with The Sandbox, an Ethereum-based metadata warehouse platform. The announcement came with news of Snoop’s latest NFT collection, an “exclusive party pass” that includes VIP access to events, NFTs and player avatars.
Latest developments at Dapper Labs
Dapper Labs, creators of Top Shot, CryptoKitties, and the broader FLOW Blockchain, raised another $250 million this week. The funding round was led by Coatue, along with new investors in the round, including BOND and GIC. The financing values the firm at over $7.5 billion. Taylor Scott is reporting that the official press release regarding Dapper’s partnership with soccer league LaLiga has also hit the streets.
TIME magazine NFT projects
TIME Magazine was the latest traditional media publication to delve into NFTs this week with the latest NFT project, ‘TIMEPiece’. The project has received significant scrutiny as 5K NFTs come and go in just under sixty seconds, leading many in the wider NFT community to believe bots are at play. Taylor Scott notes that gas prices have skyrocketed to insane levels, reaching around 9,000 Gwei at one point, and ultimately around 700 holders totaling the released parts.
Bored Ape Jenkins signs new deal
NFTs signing Hollywood deals are nothing but completely left-wing at this point. Bored Ape NFT ‘Jenkins The Valet’ signed a deal with powerful talent agency CAA last week. In August, Jenkins aired “The Writers Room,” an NFT series that guides the owners through the “choose your own adventure” story. The news comes less than 30 days after CryptoPunks creators Larva Labs signed a deal with rival agency UTA.
Taylor Scott underlines that Ethereum has been the main driver for NFTs to date, but as TIME’s latest release shows, high volume demand can lead to very high gas prices that are less than desirable for ordinary consumers.
NFT projects experiencing hackers or more of the story
This week, a rumor spread among prominent NFT players about possible hacking behavior on OpenSea accounts. An OpenSea and MetaMask user claimed that an oversized NFT account was hacked, including a piece from Damien Hirst, an ArtBlocks piece and more. The news spread to such a degree that others suggested airborne NFTs were the potential root of the behavior. However, others have stated that this is not possible and that initial user reports are simply the result of user incompetence.
NFT project helping Afghan women access education
It seems like every week we hear about a new project that is essentially philanthropic. Last week, NewsBTC covered the latest NFTs donating 100% of their revenues to women’s education access in Afghanistan.
Sorare attends fundraiser
Dapper Labs isn’t the only NFT firm to raise funds over the past week. French startup Sorare raised $680 million in its Series B round. That’s a figure that keeps the company’s valuation around $4.3 billion. Sorare is building a fantasy football platform with around 180 club partners to date. The platform also recently entered a settlement with the aforementioned LaLiga, leaving some potential questions about where the NFT rights will be drawn between Dapper Labs and Sorare.
Twitter’s authentication NFT projects
Could the next ‘blue check’ be a legitimate check on user NFTs? If you pay attention to crypto, you’ve probably heard of Twitter’s Bitcoin and Lightning Network integration in the platform’s latest Tips update. Why stop there? According to Taylor Scott, with this move, there’s been some buzz that NFT authentication is potentially on Twitter cards, and yes, that means the constant “Save your NFT to my hard drive” jokes could be at risk.
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