The business has announced the closure of [the Vault](https://twitter.com/ParkerMolloy/status/1579582286735224832) (via [The Verge](https://www.theverge.com/2022/10/10/23397766/vault-by-cnn-nft-shutdown-flow-rebate-rugpull)). Without going into details regarding the closure, they stated that the Vault had initially been a six-week experiment before being extended into "something much greater." 

On Tuesday, the site's [Discord](https://bitcoinist.com/cnn-shuts-down-nft-marketplace/) channel allegedly informed users that the platform would "change," The project's official Twitter channel later announced the closure.

## When was the CNN NFT platform launched?

CNN [launched the Vault](https://cnnpressroom.blogs.cnn.com/2021/06/16/cnn-makes-moments-from-history-available-for-purchase-with-nfts/) in June 2021, selling non-fungible tokens (NFTs) called moments based on some of its "historical moments." For example, users could obtain an NFT for $500 based on a news report on George W. Bush's re-election. 
The Vault by CNN website is [still up](https://vault.cnn.com/p2pmarketplace) and running, and it looks like [NFTs](/news/article/block-asset-nft-platform) can be purchased there. There is no update on if it will completely shut down.

Members of the Discord and Twitter communities were outraged by the team's handling of the situation since the Vault messages were still generating buzz about an upcoming release next month, branded the 'Art of Voting' collection. The collectables will likely stay accessible via the Vault site, but active maintenance and future releases appear to be over. The marketplace website has yet to mention a closure.

## Views on the CNN NFT platform shutting

Critics of The Vault had called the final chapter a "rug pull," claiming that CNN is just another traditional web2 publication looking to take advantage of consumers. Furthermore, the platform is going back on its word by referring to the project as an "experiment", which had not been the case previously. The announcement follows a difficult week for crypto on Tuesday, which saw two significant hacks and rumours of SEC investigations targeting [NFT](/news/article/next-disney-nft-drop) giant Yuga Labs.



CNN NFT platform closing down

The Merge event saw Ethereum upgrade to a Proof-of-Stake (PoS) network. It took place on September 15th, 2022, and came with many benefits, including lowering the blockchain's carbon footprint. 

Before it took place, the highly anticipated event had many within the crypto community concerned about its effect. Many NFT holders were worried about how the upgrade would affect the NFT space, not just its users.

## The Merge NFT impact 

A lot of positive things are to be expected after the Merge. According to the Ethereum Foundation, the update should lower Ethereum's energy consumption by 99%. 

Switching to PoS means the blockchain will no longer rely on energy-intensive mining hardware. Instead, it will depend on validators to validate transactions.

Less energy demand means its users can finally mint and sell NFTs in a sustainable environment. Maintenance cost for NFT projects is expected to reduce significantly. The upgrade might also see more users use the protocol to mint and sell non-fungible tokens.

Many investors had previously avoided using the network due to its negative environmental impact. Blockchains using the [proof-of-work](https://www.forbes.com/advisor/investing/cryptocurrency/proof-of-work/) consensus mechanism have been criticised, especially among environmentalists, for their high energy consumption rate.

In 2021 while still operating as a proof-of-work blockchain, some estimates of Ethereum's annual energy consumption found it to be around 26TWh, which was what Ecuador, a country of 17 million people, consumed a year.

With the network utilising the PoS consensus mechanism, investors who are kept away due to its energy consumption rate have no reason to do so.

## Pre-Merge Support

Several NFT projects had declared support for the upgrade even before the Merge. OpenSea, the largest NFT marketplace, said it would only support the PoS blockchain after the update. 

Not all ETH holders supported the update. Several network participants wanted the blockchain to remain a proof-of-work blockchain. There were concerns about hard forks that could lead to duplicate NFTs. OpenSea maintained it would not support any fork after the upgrade.

Yuga Labs and Proof also declared support for the upgrade. Proof also said it would not support or recognise any fork made post-merge. Yuga Labs is the creator of the famous Bored Ape Yacht Club, while Proof is responsible for the valuable Moonbirds project.

The projects' stand on the update helped clear a lot of confusion that would have arisen after the network upgrade, considering the possible rise of forks.

Ethereum's transition to a PoS blockchain enables it to make up where Solana and Polygon outshone it. The blockchains had staking as an advantage over Ethereum. 

However, with the update, the blockchain has one less thing to work on (high gas fees) to continue to dominate the NFT space. 
 


The Ethereum Merge impact on NFTs

Blockasset is an NFT platform and marketplace that seeks to bridge the gap between athletes and their fans. Launched in July 2021 and built on the Solana blockchain, Blockasset offers fans a place to access exclusive athlete-verified NFTs, among other services.

## How it works

[Blockasset](https://www.blockasset.co/) works by connecting verified athletes with their fans. Fans get to buy verified NFTs directly from their favourite athletes. They also interact with the athletes and see their careers blossom through their listed NFTs.

The platform, unlike others, features a tier system that helps with how fans interact with athletes and its content. The three tiers include the following;

•	Legends: They include fully authenticated NFTs produced and backed by some of the greatest sports personalities of all time, including Mohammed Ali, Wayne Rooney, and Mike Bisping. 

•	Moments: these non-fungible tokens represent a unique highlight moment in an athlete’s career. 

•	Gaming: These NFTs power several Play-to-Earn (P2E) sports games.

Legends are the first NFT collection to drop on the marketplace. They have some unique perks, which include giving their holders access to the Legends Club on Discord with exclusive athlete AMAs.

Other perks include regular rewards like signed memorabilia, meet and greets with athletes, and sporting trips worldwide.

## Native Token

Blockasset has a native utility token called $BLOCK. The token has a variety of use cases. They can be used for staking to earn rewards, airdrops, marketplace discounts, and in Blockasset’s games. 

$BLOCK holders can also use them to boost their NFT listings, win a VIP experience with athletes, reduce fees on NFT purchases, and get early access to live events. The tokens have a max supply cap of 200 million.
The platform has another token called nBLOCK, used for listing and purchasing exclusive NFTs. The token is also used for governance.

## Why Build on Solana

[Solana](/news/article/solana-price-gbp) stands out with its low fees, high throughput, and low latency. The blockchain can process over 50,000 transactions per second with close to zero fees. It also leverages the language Rust, which solves memory safety issues and thread concurrency. 

Solana’s advantages are why Blockasset was built on it. The marketplace hopes to use these advantages to provide an unmatched user experience and attract users.

## Conclusion

Blockasset is an ambitious project that looks beyond providing an athlete-focused NFT marketplace. The platform is already working on a Play-to-Earn, five-a-side soccer simulation game that will feature, among other things, online and single-player modes and player-owned assets.

Its road map reveals fantastic things are on the way, making it a project worth checking out. It already has thousands of followers on Twitter, Instagram, Reddit, and Telegram.
 



Block asset: An athlete NFT platform built on Solana

[VaynerNFT](https://vayner3.com/) is moving away from solely being an NFT enterprise. In its recent rebranding into Vayner3, the company is ready to expand its horizon, delving into the Metaverse amongst other web3 experiences.

In July 2021, VaynerNFT was created by Gary Vaynerchuk, the chairman of VaynerX - his holding company. The new company's mandate was to assist brands with planning, strategizing, and executing NFT strategies. According to Gary, NFTs will become a "real consumer trend in 2022, and brands will invest heavily in the technology.

NFTs took 2021 by storm, with many companies and individuals investing in the space. [Facebook](/news/article/metaverse-facebook) (which [rebranded to Meta](https://knowledge.insead.edu/marketing/why-facebook-rebranding-itself-meta#:~:text=Mark%20Zuckerberg%2C%20founder%20of%20Facebook,phase%20in%20the%20digital%20world.)), Gucci, [Nike](/news/article/nike-nft-rtfkt), etc., tried positioning themselves ahead of the Metaverse and web3 curve. With most of these companies investing in other Web3 opportunities, VaynerNFT rebranding to Vayner3 is not surprising.

## What to expect from VaynerNFT's transition to Vayner3

So far, VaynerNFT has worked with over two dozen Fortune 500 companies like PepsiCo and Coinbase. However, with its rebrand into Vayner3, the company is ready to offer Web3 solutions to a wider range of global partners.

Vayner3 will now operate as a consultancy and assist brands looking to invest in Web3 experiences like branded metaverses and blockchain integration. According to the Vayner3 rebrand statement, NFT technology "will remain a cornerstone of Web3".

According to a company announcement, Avery Akkineni will continue to be the president of the consultancy.

## Is the NFT bubble over?

The transition to Vayner3 sheds light on the question in the mind of NFT critics. Is the NFT bubble over? Given that Gary, one of the key voices heralding NFT, is rebranding VaynerNFT into a broader Web3 consultancy company.

To answer this, the NFT bubble is not over. A sector like gaming that features the new play-to-earn economy incorporates NFT technology. Furthermore, NFTs will remain core to the Metaverse. 

Conclusively, the company's rebrand helps prevent restricting its offerings to solely NFTs. Now, Vayner3 will explore all the [possibilities of Web3.](/articles/learn-moni/web-3.0-crypto) 
 
 
 



VaynerNFT expands into web3 as it rebrands as Vayner3

Disney dropped its most iconic [Mickey and Friends NFT collection](https://www.cryptotimes.io/disney-to-drop-its-iconic-mickey-and-friends-nft-collection/) in collaboration with [VeVe](https://www.veve.me/), a digital collectables platform, on January 27 2022.  

The collection includes Mickey Mouse and five other classic cartoon characters, which users can find within five rarity groups: Common, Uncommon, Rare, Ultra Rare, and Secret Rare. Minnie Mouse, Donald Duck, Daisy Duck, Pluto, and Goofy were on the list. 

The previous NFTs were also released via the Veve app and culminated on November 12, where a "special Ultra Rare digital collectable" will also launch. 

The "[Golden Moments" NFT collection](https://medium.com/veve-collectibles/disney-golden-moments-finale-98c238cb776b) is available exclusively on the VeVe app. Users can download from the Google Play Store or the Apple App Store to buy, sell, and trade digital collectables from legendary sculptors like Todd MacFarlane. November 9, 2021.

## About the next Disney NFTs

The [Walt Disney Company](https://thewaltdisneycompany.eu/), founded in 1923 as Disney Brothers Cartoon Studio, is the creator and owner of some of the most beloved intellectual property (IP).

When it comes to entering the space, brands have taken a variety of approaches. While some have carried out their drops, many have collaborated with Web3 native companies, including Disney. 

## Where To buy the next Disney NFT collection

Until now, all the studio's NFTs came through the [NFT marketplace](/news/article/epic-games-nft) VeVe, an app-based marketplace specialising in licensed NFT launches from some of the world's biggest brands.

Disney NFTs, like most collections on the app, sell out quickly on the day they are released. Their secondary market prices are typically orders higher than when they first sell.

The company has technically been involved in NFTs for nearly a year. That's because, in April 2021, the marketplace released an NFT based on the Marvel Comics property "The Rise of Ultraman" Over time, they acquired Marvel. Following that, Marvel and VeVe released several high-profile NFT drops. 

The studio's first fully branded NFTs were made available in November 2021. They were released to commemorate Disney+ Day, which celebrates their subscription streaming service as they launched a collection of "Disney Golden Moments" at the time. 

## How To buy the next Disney NFTs collection

Users can purchase their following collections by registering with the VeVe app. Users will be able to buy any of the existing NFTs and can trade using the platform's currency, Gems. One Gem is equal to one US dollar. Users can also choose the Blind Box option, which means they won't know which card they are buying until they have bought it. 

Users can begin collecting [NFTs](/news/article/ford-new-cars) after they have created their account and purchased some gems. VeVe drops are viral and almost always sell out in minutes. 

As with ETH, investors will also not lose money due to failed transactions. Users can participate in the initial sale to get the best value on VeVe drops.

On the secondary market, investors can also look for good deals on Disney NFTs. While these prices will undoubtedly be higher, most NFT drops on the app are blind boxes. Also, users can choose the same NFT/rarity they want on the secondary market.

## Possibility of next Disney NFT sellout

Finally, the studio company completed the first week of Golden Moments NFT sales by releasing 4,333 statues holding Mickey Mouse's hand. The Ultra Rare range sold for 333 Gems. Given that the lowest price for these rare collectables is now 16,400 gems, it's safe to assume that those lucky buyers were more than happy to get it for that price before it sold out. 

Since then, the company has sold Golden Moments collections for Valentine's Day 2022 and Duos collections on March 19, 2022.



The next Disney NFT drop announced

With 100,000 unique avatars created using Epic Game's MetaHuman Creator, Nifty's and Warner Bros. have launched [Matrix Avatars](https://niftys.com/thematrix), a first-of-its-kind NFT project, in advance of "The Matrix: Resurrections", the fourth instalment in the franchise. 

The project represents the entry of the first sizable motion picture IP into the vibrant NFT avatars market. Most importantly, it gives franchise fans the chance to live inside the Matrix universe as a unique character. 

Warner Bros. and Nifty chose to mint the NFTs on the Palm blockchain because it's environmentally friendly and uses minimal energy.

![matrix 1.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/matrix_1_e8412a4d37.png)

## How to purchase a Matrix NFT?

Avatars are on sale for $50 each. Fans can purchase avatars using fiat currency (credit or debit cards) or [cryptocurrencies](/articles/learn-moni/cryptocurrency-trading-strategies) (DAI on the Palm blockchain). They can enter the waiting area, and from there, Nifty's members are added to an order line to ensure a quick and easy transaction process.

## Matrix NFT purchase limit

You can purchase up to 25 NFTs. Warner Bros. has restricted the purchase price to allow more fans to buy avatars. The purchase restriction will be lifted eventually, and fans can buy as many NFTs as they want through Nifty's secondary market. In addition, 5,000 avatars have been reserved for community-building activities such as giveaways and promotions.

## Matrix Resurrections NFTs

The Resurrections NFTs are an excellent way to engage fans. The avatars are released in two stages:

1.    The first stage
The first sale took place on November 30, 2021. These resembled ordinary people trapped in the Matrix's world. These NFTs were all randomly generated. They are only available on Nifty's marketplace. 
However, due to the random nature of the generation, there are numerous attributes and permutations.

2.    The second stage
In the second stage, the users are offered the choice of taking a Blue Pill or a Red Pill. 

![matrix 2.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/matrix_2_e95ae83f6a.png)

The avatar will remain imprisoned in the Matrix if you take a blue pill, perhaps to enjoy the [Metaverse](/news/article/how-to-invest-in-metaverse).

The avatar will change into a resistance fighter after taking the red pill. Although the avatar won't change, the resistance fighter will receive upgrades. The Matrix film series primarily influences the entire environment.

## Is Matrix NFT a profitable investment?

The NFT promises good future returns. Aside from their excellent utility, avatars are valuable digital collectors' items crucial to the film industry. They, along with other movie [NFT](/news/article/blue-chip-nfts) collections, will pave the way for incorporating digital art pieces into the film industry.
 



Matrix NFT explained

[Solanart](https://solanart.io/), an NFT marketplace hosted on the [Solana blockchain](/news/article/solana-nft-marketplace), was launched in 2021. The marketplace includes various NFTs created by users, organisations, and celebrities.

The platform maintains its inventory of NFTs available for purchase in an offline database, in contrast to other NFT marketplaces. This helps to secure a large number of NFTs for sale on the platform.

[DappRadar's marketplace statistics](https://dappradar.com/solana/marketplaces/solanart) show that the platform has had over 238k traders and an overall sales volume of over $660 million.

The platform charges zero fees to buy and sell NFTs, which adds to its growing popularity.

## Compatible wallets with Solanart

Solanart is currently only compatible with the Sollet wallet, the Sollet Chrome extension, and Phantom, though it is very likely that other wallets will be supported in the future.

If you have one of these two wallets, connect at the top right, confirm in your wallet, and you can begin buying and selling NFTs and viewing your wallet collection.

## How to buy and sell NFTs on Solanart?

To purchase an NFT, you must first link the [wallet](/news/article/best-ethereum-wallet) to solanart. With the wallet connected, click on the one you are interested in buying. You can then find information such as the address of the NFT owner, and you can view all of the information in the [Solana](/news/article/upcoming-solana-nft-projects) explorer by clicking on the view token.

Finally, if you click, you can see who the last buyer was and when they bought it. To purchase, click on buy and confirm it. Once the transaction is complete, you will see your new NFT in your wallet. And from there, you can list it for sale, which will appear in the My NFT For Sale section.

To sell the NFT you have purchased, click the "Connect Wallet" button in the top right corner. When you click on the "Wallet" tab, you should see the NFTs you can sell.

Click "Sell" and add a description of a maximum of 50 characters. Enter the SOL price at which you want to sell it.

Click "SELL", confirm the transaction in the wallet's pop-up window, and wait a few seconds for the transaction to complete. This way, you'll be able to sell your NFT.

## Solanart market commissions 

The platform charges a 3% market commission on the selling price of each transaction. Additionally, a creator's fee is added to the sale price and is fully paid to the artist. This fee varies depending on the collection. 

There is a 0.02% advertising fee to prevent excessive advertising. Before putting your NFT up for sale, ensure you have enough SOL to pay the listing and transaction fees.

## Bottom line

The top characteristics that set Solanart apart from the rest of the NFT marketplace competition include low transaction charges, a speedy platform, a rapidly expanding collection of NFTs, strict standards, active assistance, and, of course, being powered by the Solana network. These characteristics undoubtedly give NFT creators, buyers, and sellers a competitive edge in their business of digital trading assets. 



Solanart: NFT marketplace explained

Olajide Olayinka Williams "JJ Olatunji", better known as KSI, is a British rapper and YouTuber. He began gaining followers in 2009 when he launched his youtube channel and began posting video commentary on the FIFA video game series. 

After 12 years, the 28-year-old artist now has over 37 million subscribers. He's been named to the Sunday Times' Top 100 UK Influencers' and Tubular Labs' 'UK's Most Influential YouTube Creators' lists, and his channels have received over 8.5 billion views.

## KSI NFT investments

KSI has joined the Bored Ape Yacht Club after purchasing a [Bored Ape](/news/article/bored-ape-nft) and kennel club dog.

In his [Twitter post](https://twitter.com/ksi/status/1429770910794403840?lang=en), he tweeted: " I've given in and bought an NFT. A Bored Ape Yacht Club"

![ksi 1.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/ksi_1_c44c15d60e.png)

KSI holds the Bored Ape #2105. The NFT is a five-trait, bored-looking, unshaven mouth, golden brown fur ape dressed in a prison jumpsuit. KSI purchased the NFT for 25.4169 ETH, or about USD 83,875.

The following day, he tweeted: "I've paid over $23000 for a glowing dog."

He also bought glowing dog #2144 from the Bored Ape Kennel Club. BAKC golden dog is a radioactive fur puppy wearing a purple headband and a BAYC life preserver.

![ksi 2.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/ksi_2_c16f5a1460.png)

## KSI crypto investments

The British rapper had a hard time with crypto. He lost around $2.8 million in the [Terra Luna crash](/news/article/terra-usd). The rapper claimed he purchased 100,000 Terra coins when the price dropped and had decided to hold them for a long time. But, with the [Luna crash](/news/article/terra-luna-collapse), he lost almost his entire value of his Luna investment. 

Before this, the rapper also claimed that he lost around 2 million pounds in crypto investments around Nov-Dec 2020, hoping to get good returns.

Crypto is a volatile space. It's always advised to conduct in-depth research before investing in the cryptocurrency market. 




KSI NFT and crypto investments

Next month marks Hugo Boss's [first](https://imaginary-ones_1.prowly.com/209331-hugo-partners-with-imaginary-ones-to-launch-exclusive-nft-collection) NFT collection and encounter with the Metaverse. The fashion company described its entry into the Metaverse as a crucial milestone in "refreshing" the brand internationally. 

The NFT collection is set to debut in early November 2022 to encourage everyone to connect with and own their emotions, whether happy or sad and should embrace them as such. Freedom in expressing emotion can significantly improve mental health and overall well-being in the opinion of their project partner, Imaginary Ones. 

## Hugo Boss NFT collection  

Embrace Your Emotions (EYE) will be the collection's title, featuring 1,001 NTFs with 3D animations. Each will feature one of six different characters—five symbolising joy, sadness, fear, anger, and love, which are all human emotions. A sixth extraordinary character will mix all five emotions to commemorate National Health Day on October 10. 

This evidence-based mental health programme is currently offered to over 85,000 teens in 16 countries, allowing young teens aged 13 to 17 to learn about and explore the issue of mental health.

An allowlist will grant access to the HUGO x Imaginary Ones EYE collection and the ability to purchase the NFTs. Customers who buy a unique "phygital" T-shirt will be assigned 500 of the 1,000 allowlist places available. There will be 500 limited-edition T-shirts with a QR code connecting users to a Snapchat Lens to create a distinctive augmented reality effect. 

From October 4 onwards, the remaining 500 allowlist slots will be granted to existing holders of the Imaginary Ones' [genesis NFT collection](/news/article/meta-facebook-nft) and through various activities on the Imaginary Ones' Twitter and Discord platforms.

## Further rewards for Hugo Boss NFT collection holders

Holders of the EYE [NFT](/news/article/jay-z-cryptopunks-nft) will enjoy a 10% discount valid for ten months at all Hugo Boss outlets globally. Furthermore, all holders will have access to Imaginary Ones' staking ecosystem, which provides holders with a set of HUGO x 10 products, including wearables, experiences, and other content.  








Hugo Boss NFT line and Metaverse experience

Launched on September 17th, 2021, Magic Eden is the largest and most popular NFT marketplace on the Solana blockchain. Its pros are its low transaction costs and no fees for listing NFTs. It also stands out with its usability, community-focused features, and diversity of projects.

In June 2022, the project made headlines when it raised $130 million in a Series B funding round, bringing its valuation to $1.6 billion. The funding round was co-led by Electric Capital and Greylock and included investors like LightSpeed Venture Partners, Paradigm, and Sequoia Capital.

Three months prior, it had raised $27 million in its Series A funding round led by Paradigm, Sequoia, and Solana Ventures.
Its $1.6 billion valuation put it on par with the Series B of OpenSea, another popular and leading NFT marketplace on the Ethereum blockchain.

According to a press release, the money raised will be allocated to expand its primary and secondary marketplaces, look into multichain opportunities, and improve its products, among other things. 

Since its launch, its primary marketplace, Launchpad, has launched over 250 projects, while its secondary marketplace has more than 7,000 listed collections. According to a statement from Solana, the platform’s secondary marketplace is responsible for 92% of NFT volume on Solana.

## Magic Eden expands to Ethereum

True to their word, in August 2022, Magic Eden began its move to Ethereum. It has supported several significant ETH NFT collections, including Bored Ape Yacht Club and Pudgy Penguins.

According to [its CEO and co-founder Jack Lu](https://decrypt.co/110185/magic-eden-ceo-very-natural-to-expand-from-solana-to-ethereum-nfts), going multichain had always been the plan. The company, however, decided to start with Solana because it looked like a frontier ecosystem at the time of its launch in 2021.

Lu admitted that there was worry among the platform’s team about how its SOL-centric audience would react to the announcement of its expansion to Ethereum.

When asked about the platform’s addition of the ETH protocol, Lu said, “For us to move from SOL to ETH, it was very natural.” 
[Ethereum](/coins/eth) is the largest ecosystem in terms of the overall trading volume. It holds most of the highest-value projects and has plenty of users, which are pluses for the marketplace. Lu also added that there is a lot to learn from the blockchain ecosystem.

According to Lu, expanding to Ethereum is only the beginning for Magic Eden. There are plans to expand to many more blockchains in the future.
 



Magic Eden NFT marketplace journey

Shawn Corey Carter, better known as Jay Z, is a multi-platinum selling hip hop artist widely regarded as the most influential rapper. He is also considered an extremely successful businessman, having founded several multimillion-dollar corporations, including Rocawear, a clothing firm with more than $700 million in annual sales. He is known for collecting fine art and mentioned artists like Picasso in his songs.

## Jay Z's Cryptopunk Twitter profile picture

[Jay Z's Twitter profile picture](https://twitter.com/sc) has been changed to a CryptoPunk NFT that he bought from OpenSea for $126,000; the punk replicates his iconographic hair. 

![jay z 1.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/jay_z_1_b82cdaa19e.png)

Jay Z paid 55 ETH for one of the 10,000 CryptoPunks on April 25. This punk has an African American male wearing a gold chain, a feature that few punks have. His Twitter accounts profile picture changed on June 25.

## Jay Z drops his Reasonable Doubt as NFT.

Jay Z collaborated on creating an NFT with Derrick Adams, a multidisciplinary artist and professor at Brooklyn College. Adams' work takes many forms, including painting, collage, sculpture, performance, video, and sound installations. 

Derrick Adams designed an NFT celebrating Jay Z's debut album 'Reasonable Doubt' on its 25th anniversary. The NFT featured captivating imagery and animated elements and was sold at Sotheby's for $139,000. The physical artwork is also owned by Jay Z. A portion of the profit was donated to The Shawn Carter Foundation.

![jay z 2.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/jay_z_2_311b18b9ca.png)

Derrick Adams created the work in his fragmented style. He was able to animate certain aspects of the piece in the NFT version, such as creating a red glow for the cigar Jay Z is holding, making signature diamond jewellery sparkle, and manipulating the smoke from the cigar to transform into the number 25. The piece incorporates many elements from the original 'Reasonable Doubt' album cover. It also adds a unique twist with advanced animations.

Sotheby auctioned off the piece- one of the leading fine art auction houses, from June 29, 2021, to July 3, 2021, bidding starting at $1,000. The auction took place concurrently in the popular blockchain game-Decentraland's Voltaire Art District.

## Jay Z sued Damon Dash

Jay Z co-founded the record label Roc-A-Fella Records (RAF) with Damon Dash, an entrepreneur who has appeared in films and is a successful record executive.

Jay Z sued Damon Dash for attempting to sell the 'Reasonable Doubt' NFT. Damon Dash holds a small portion of the record label, and his lawyers have stated that he lacks the authority to sell a company asset unilaterally.

Damon Dash attempted to sell the NFT by partnering with the NFT marketplace platform SuperFarm. As a result, RAF lawyers advised SuperFarm to cancel the auction. According to the record label, Dash was still looking for alternative marketplaces to sell the NFT.

As of 2022, Damon Dash and Jay Z have decided to settle their legal cases. Dash is not allowed to "in any way dispose of any property interest in 'Reasonable Doubt,'" even though he is still allowed to sell his one-third ownership in Roc-A-Fella in the future.

## Influence of Jay Z in the NFT space

Jay Z is a well-known musician who has founded numerous profitable businesses. He is also regarded as a wise investor. He is one of the few pop culture figures indulging in the crypto industry. As time passes, more influencers, athletes, and musicians are entering the blockchain world.

Jay Z CryptoPunks Twitter profile photo's continued use is probably making many musicians wonder how NFTs can be applied to the music industry.

As an investor, he has made several significant pre-IPO investments, including Uber. More recently, he invested $19 million into Bitski, a platform for buying and selling NFTs through a secure wallet.

Bitski has the potential to be a powerful [NFT marketplace](/news/article/gamestop-nft-marketplace) for musicians and record labels looking to sell albums as NFTs. Bitski is also compatible with blockchain-based games. Other artists and musicians may get influenced by Jay Z NFT investments as he has proved himself to be a successful investor.




Jay Z invests in cryptopunk NFT and Bitski

With the upcoming [Web3](https://web3.foundation/) in development, the music industry has seen numerous technological advancements that have facilitated the widespread adoption of blockchain and NFTs. Over the past two years, many famous [musicians and artists](/news/article/snoop-dogg-nft-song) have supported and invested in NFTs. 

Web3 tools allow creators to grow an existing audience and turn it into a community. The ability to create communities around token holders has been the most common among the many use cases for nonfungible tokens (NFTs). 

Web3 platforms are still in their infancy. Most users are familiar with cryptocurrency and fundamentally understand how to communicate on-chain. Web3 music platforms have the potential to play a significant role in how labels, artists, and musicians conduct business and promote themselves as the industry matures.
The possibilities offered by this technology enable digital connections between people who share similar interests, eliminating any prior barriers to forming a community.

Music innovation gives up-and-coming musicians the chance to establish themselves and build community in the hyper-competitive niche of the music industry. This might lessen record labels' contribution to an artist's success. Many record labels are participating by shifting some operations onto the blockchain and releasing music NFT collections.

Successful Music NFT drops demonstrate how Web3 can upend the fundraising model by enabling artists to solicit funding directly from fans. The artists who put forth the most effort to interact with their fans and forge close bonds with them will gain the most from Web3.

## Music NFTs plays a critical role in transforming an audience into a community

An audience is someone who follows and supports their favoured musicians and artists, whereas a community is a group that promotes two-way communication between the artist and its fans. 

With digital advancements, artists are now focusing more on a community-driven approach. Blockchain and NFTs allow them to engage directly with their community.

Community activities have a more significant and immediate impact on an artist's growth. Artists have a solid foundation to build a career with the support of a strong community.

Clear communication and increased accessibility of [NFTs](/news/article/compass-nft) are the first steps in achieving this. Artist communities will ultimately be driven by NFTs and the model of content ownership because it forges a much deeper and more exclusive bond between fans and creators.

The artists willing to use every tool to create an active and interactive community around their work will be the most successful in today's market.


Music NFTs vital role in building a fans community

Wardell Stephen Curry II, born March 14, 1988, is an American professional basketball player for the Golden State Warriors in the National Basketball Association (NBA). He is widely regarded as one of the greatest basketball players of all time and the most excellent shooter in NBA history. He is credited with revolutionizing the sport by inspiring teams and players to shoot more three-pointers.

## Stephen Curry bought Bored Ape Yacht Club NFT

Stephen Curry recently paid 55 ETH ($180,000) for a [Bored Ape](/news/article/how-to-buy-monkey-nft) Yacht Club NFT.

His Bored Ape #7990 NFT depicts a blue-fur ape dressed in a brown tweed suit and sporting green zombie eyes. Currently, his (username SC30) Bored Ape is being bid on for 39.61 ETH ($125,700), significantly less than he paid.
 
## Stephen Curry's Partnership with Under Armour

Under Armour, a sportswear company based in the United States, has [announced](https://lab.currybrand.com/currycounter) that they will release NFTs to commemorate every three-point shot made by NBA star Stephen Curry during the current playoffs.

The Stephen Curry NFTs will be given out to fans on a first-come, first-served basis. It will include 'serums,’ kept in digital wallets that allow owners to customize their avatars' appearance.

For every three-pointer Curry makes in a playoff game, the most active Golden State Warriors fans can collect three free digital Basketballs. It will be released under the Curry Brand.

## How can a user get NFTs released by Under Armour?

Before proceeding to the 'Reserve an NF3 Basketball' option, fans must first link their MetaMask wallet to the website. When a Basketball is available for reservation, Steph's fans can click 'Agree to Terms & Conditions and then 'Reserve.'

Users must then scroll down to the 'NF3 Basketball Winners' section to determine whether or not they have successfully reserved a Basketball. After verification, they should scroll down to 'NF3 Counter' and select 'Claim' one hour after the game.

The reserve button will be activated when Curry makes a three-pointer in the Playoffs. Pressing Reserve does not guarantee NF3 Basketball. The first person to click 'Reserve' will secure an [NFT](/news/article/free-nfts), but they must pay the gas fee.
If a user has successfully reserved a Basketball NFT, they cannot book another one until the next game. 

## Stephen Curry 2974 NFT collection

Offered in collaboration with the 2974 Collection, this is a special "Birthday Game" 2974 Collection NFT commemorating Stephen Curry's impressive performance against the New York Knicks on March 14, 2015. Steph's 27th birthday also doubles as an invitation to his exclusive, upcoming birthday celebration, where, among other things, the winner will receive an opportunity to play basketball with the two-time NBA Most Valuable Player.

Curry's historic three-pointer inspired the development of his famous 2974 Collection, which was named one of five finalists in the NFT NYC Awards' Most Impactful for Charity category. It's worth noting that Curry donates 100% of the 2974 Collection NFT profits to charity, specifically his Foundation [eatlearnplay.org](https://www.eatlearnplay.org/).

This historic NFT is a thrilling remembrance of the future Hall of Famer and Golden State Warriors icon, appearing in his sixth NBA Finals since 2014-15.

Exclusive merchandise, game trivia giveaways, autographs, memorabilia, and more are available to all 2974 Collection NFT holders. Curry has also participated in video sessions on the Discord channel for the 2974 Collection.

Stephen Curry's involvement in the [NFT](/news/article/nft-land) market will make other sports professionals dive into this space. This would also encourage many different companies to embrace blockchain technology and launch new NFTs in partnership with other celebrities. 



Stephen Curry NFT involvements

[Compass](https://compass.art/) is a remarkable [NFT](/news/category/nft-news) analytics software that allows customers to acquire extensive data, statistics, and analytics that could then be used to find profitable transactions. It tracks the price movement, trade volume, and other relevant data from all of the NFT projects on the [Ethereum](/coins/eth) blockchain and provides users with insightful data to help them be better traders.

In the current scenario, most traders find valuable listings long after the opportunity passes or buy and sell their NFT holdings without the correct data and solely based on their gut feelings or whatever information they can scrape from Twitter.

## What are the benefits of Compass?

Compass: NFT analytics tool constantly tracks the sales and volume of all the trending units and projects so that you can be a fast mover and never miss the hottest mints. It could also provide an accurate valuation of the portfolios to analyse which were the best trades and be quickly alerted in real-time when a whale makes a purchase or a collection goes above or below a specific price. You can also follow the whales and purchase super rare NFTs with the help of rarity rankings to access the undervalued gems before anyone else.

## How do you track whales with Compass?

Whales are the individuals or entities with extensive digital asset holdings and have the most significant influence over market change. These are high-net-worth individuals who have enormous holdings in any [NFT projects](/news/category/nft-news).

Your Compass account allows you to follow your selected influencers, friends, and the biggest whales. The Compass NFT tool will also inform you about bogus mints, which will improve the effectiveness of your trading strategies.

You can now operate concurrently with whales by following the "smart money" by making trades as soon as addresses with large market capitalisations book orders, increasing your chances of being a successful trader.
 



Compass NFT analytics tool explained

Although NFTs have existed for five years, the nonfungible token boom didn't start until 2021. It happened at the same time as the debut of the [Bored Ape Yacht Club](https://boredapeyachtclub.com/#/), a collection of 10,000 Lazy Ape NFTs featuring cartoon monkeys that have come to represent the entire industry. The past year has seen BAYC develop into a bellwether for NFTs, much like bitcoin is for the overall crypto market.

## What are Lazy Monkey NFTs?

Yuga Labs' Lazy Ape is an NFT collection built on the Ethereum (ETH) blockchain. Each NFT is known as an Ape.

These digital artworks depict bored simians. They all have a similar appearance and feel, but each monkey has a unique combination of facial expressions, accessories, and outfits, so no two are alike.

This combination of features—or the relative rarity of each variety—could be the driving force behind the Lazy Apes' popularity. "Rarity" is a formal measure of each Ape's uniqueness in the BAYC community.

## What makes Lazy Monkey NFTs so expensive?

1. Utility
Lazy Ape is valuable not only because it serves as a digital identity but also because it comes with commercial usage rights. Lazy monkey NFT owners can not only resell the NFT for a profit but also sell spinoff products based on the art.

One Bored Ape owner created a Twitter account for his Ape and created an entire backstory in which the Ape is Jenkins, a valet at the Yacht Club. Jenkins is personable, crypto-savvy, and tells incredible stories—the ideal combination for a successful Twitter account.
Jenkins' story is enhanced by the fact that he was the cheapest Ape in the collection, which influenced his character as a valet. People are drawn to the classic "underdog rise" story on a basic level.

 2. Limited supply
Basic economics: because there are only 10,000 Bored Apes, the supply of NFT art is quite limited. With the brand's massive popularity, we have a high-demand/low-supply dynamic that will inevitably drive prices up.

Furthermore, some Bored Ape avatars in the same collection are rarer than others. Each monkey is a unique, randomly generated combination of 170 characteristics such as background colour, earrings, expression, headwear, clothing, etc. This derived scarcity also contributes to some Bored Apes' high prices.

3. Celebrity Support
Celebrities nowadays are showing immense interest and support for Lazy Apes. BAYC NFT is owned by Jimmy Fallon, Post Malone, Mark Cuban, Paris Hilton, Stephen Curry, [Snoop Dogg, Eminem](/news/article/snoop-dogg-nft-song), and Shaquille O'Neal. It's also common knowledge that involving celebrities in anything can increase interest—and prices.

Because of the significant celebrity involvement, [Bored Apes](/news/article/how-to-buy-monkey-nft) have become a status symbol — similar to a digital Veblen good — the higher the price, the more people want 
one.

 4. Unique content
BAYC provides Lazy Ape holders with exclusive content benefits, some of which are detailed in the roadmap on the BAYC website. The roadmap is a to-do list that the founders intend to cross off when they reach their sales percentage targets.

5. Early entry to the NFT world
[While Bored Apes NFT](/news/article/bored-ape-nft) is not the first among NFT collections, they are one of the few available. Not to overlook the novelty, but it does contribute to the movement's success. For example, CryptoPunks are valuable because they are the first NFT collection.

 BAYC acquired Cryptopunks in early March 2022, significantly reducing competition and establishing their position as forerunners of the NFT-community movement. BAYC intends to grant CryptoPunks owners intellectual property and commercialization rights, as they have with Bored Ape owners. This will inevitably increase demand, resulting in a price increase.



Why are lazy monkey NFTs so expensive?

Mark Zuckerberg, the creator and CEO of [Meta](https://about.fb.com/news/2022/05/introducing-digital-collectibles-to-showcase-nfts-instagram/), revealed today that both the Facebook and Instagram platforms would allow users to connect their digital wallets and post-non-fungible tokens (NFTs) on their social media profiles. This development has been in testing since May 2022.

## What’s the reason behind the Instagram and Facebook NFT feature?

This change is expected to improve social media engagement and give NFT producers new earning possibilities. 
The recently revealed NFT capabilities for Facebook and Instagram represent a significant step forward for Meta. 

Meta's goals to continue exploring the possibilities of blockchain technology and Web 3 within its platforms are bolstered by this move. Considering Facebook and Instagram's massive user bases, adding NFTs could result in accelerated growth fuelled by demand from their target market of digital natives.

The capability to share NFTs on Facebook and Instagram will surely raise awareness and interest in NFTs. As the crypto market enters its tenth month of being in a bear market, there is little enthusiasm for non-fungible tokens. However, NFT values are not always affected by what happens in the crypto sector.

Users can now connect to their digital wallets to speed up the process. There are currently few choices for blockchain networks that provide seamless links to Facebook and Instagram. To post NFTs to these social media platforms, users must connect their NFT networks to Meta. 

Users now have access to third-party blockchain wallets such as Trust Wallet, Dapper Wallet, [Coinbase wallet](https://www.coinbase.com/wallet?__cf_chl_f_tk=H8avkp0A61D_fJ1_xuMxOdzBE3s36W2U6ihh2ithcAI-1664524771-0-gaNycGzNCT0), and Metamask wallet for the time being. The procedure supports digital collectables created on the [Polygon](https://polygon.technology/), Ethereum, and Flow networks.

Mark Zuckerberg's team has been hard at work on digital collectables, announcing developments before this recent announcement. The group stated their ambitions to incorporate NFTs on Instagram throughout the year until July when [Meta](/news/article/meta-share-price) launched [NFT](https://www.theverge.com/22310188/nft-explainer-what-is-blockchain-crypto-art-faq) support in 100 countries. 

Although [NFT capabilities](/news/article/moonboys-nft) are available in over 100 countries on Instagram, the recently launched functionality that allows for cross-posting on both platforms is only available to US users. 

Similarly, the new capabilities will raise awareness and demystify the Web 3 ecosystem for regular social media users, who can navigate among different NFTs the same way they do images.



Meta launch Instagram and Facebook NFT functionality

[SushiSwap](/coins/sushi) is an acclaimed decentralised exchange (DEX) which is transforming into an ecosystem of DApps. Unlike many other DEXs, it does not only support Ethereum but several different blockchains. This interoperability gives SushiSwap an edge over its competitors. 

One of its innovative services is the SushiSwap Metaverse. The unique thing about this is that it is an intermix of the NFT marketplace and the Metaverse. Its ecosystem is entirely backed by [Sushi](https://sushi.com/) and is built to serve both; artists and art collectors. 

This article will discuss everything you need to know about the SushiSwap Metaverse!

## The ShushiSwap Metaverse - Shōyu

The SushiSwap Metaverse is named Shōyu and was launched in November 2021. The platform, which merges the 3D virtual environment and an NFT marketplace, is shaped by the decentralised Finance (DeFi) firm Sushi on the Ethereum mainnet. It works like an Automated Market Maker but also has cross-chain features. It can support L2 solutions like [Polygon](/news/article/polygon-crypto).

It introduces 3D art galleries, where art appreciators can participate in exhibitions via VR devices. Collectors and artists can communicate with each other in a virtual setting, creating a dynamic experience for all. 

You are also able to trade your NFTs via these 3D galleries. You can bid in several ways, including English auction, Dutch auction, or simply buying at the fixed price. It also creates accessibility for the collectors by introducing NFT shares.

 ## Features of SushiSwap Metaverse

1. Compatible with the Sushi ecosystem
Shoyu, the NFT marketplace and [Metaverse](/news/tag/metaverse), is powered by the Sushi platform. This makes it a unique platform that combines DeFi with art. Moreover, Sushi has helped Shoyu to deviate from the conventional structure of marketplaces. It has introduced the 3D immersive environment of Metaverse in NFT trading.  

2.          3D art galleries
As this NFT platform also shares the features of a Metaverse, it also has 3D art galleries. Artists can showcase their digital art collection in a customised, immersive environment. It changes the traditional grid-like display of collectables to more like a real exhibition mode. For this purpose, it supports various VR devices to make them more accessible for the collectors. 

3.          NFT shares
On this platform, you can also have shares in a non-fungible token. As NFTs are quite expensive, not all art lovers can afford them. It solves this problem of inaccessibility by introducing NFT shares. That’s why multiple collectors can claim part ownership of an NFT simultaneously, and its price is shared among them.

4.          Low gas fees
A low transaction fee is another advantage of using SushiSwap Metaverse. It is an automated market maker (AMM) on the Ethereum blockchain with the multi-chain feature. This allows the platform to support several L2 protocols like Polygon. These solutions are much cheaper and less congested in comparison to Ethereum. That’s why you can enjoy cheaper transactions on it. 

5.          Environmentally friendly
The L2 solutions also make it an eco-friendly option. Since Ethereum’s main net consumes more energy, it has more emissions. So, it takes operations off the Ethereum blockchain to other energy-efficient blockchains. 

## Bottom line

Shōyu by Sushi is a highly dynamic [NFT market](/news/article/buy-nft-market) that incorporates virtual reality experiences for both; artists and collectors. It has revolutionised the traditional setup of NFT marketplaces. Besides, it creates more accessibility for digital art collectors by offering the option of acquiring shares in a digital art token. 

In addition, it has cross-chain features too. Therefore, it can support the Polygon network, which allows lower gas fees and is eco-friendly. Because of such features, the SushiSwap Metaverse is a novel alternative to popular NFT marketplaces.



SushiSwap Metaverse 101: All you need to know

NFTs are quickly becoming one of the most in-demand and innovative forms of digital asset ownership. The Moonboys NFT has recently gained a lot of attention. This blog will discuss what makes these particular NFTs unique.

## What is the Moonboys NFT?

Moonboys NFTs are built on the Ethereum Blockchain with a total supply of 11,111 ERC-721 tokens. Each token is distinctive and 3D designed, including great utilities and full membership to a growing community.

These are the most in-demand and innovative NFTs you can find on the Ethereum blockchain. With its 3D-designed graphics and full membership, it is one of the most sought-after tokens in the crypto world.

## How can you buy Moonboys?

If you're interested in getting your hands on a Moonboys NFT, you'll need to head to the [OpenSea](/news/tag/opensea/2) website. You need to know that there is a 5% creator fee. The total sales volume has been around 1.5K Ethereum tokens with 33% unique owners. 

Currently, 11.110 are stored in 3383 different wallets. The largest whale holds 344 Moonboys (approximately 3% of the available supply).
What are some community utilities that come with owning a Moonboys NFT?

When you buy these NFTs, you're not just getting a unique collectable item. You're also joining a community of fans with access to great utilities.

For starters, each [NFT](/news/category/nft-news) holder has a full membership to the official community and channels. Also, there is a special business club provision for the holders. The Business Club offers physical and online conferences for participants who wish to expand their connections and improve their Web3 expertise. You'll find everything from the latest news and updates to fan artwork and discussions.

You will receive a membership to a selected community as soon as you become a holder. Top participants in the [NFT](/news/article/free-nfts) and crypto worlds are present in the community. Being a member of this club gives you access to live events and the chance to interact virtually with influential people.

The official website is also the place to go for all your needs. Here you can buy merch which is coming real soon and more. Also, the NFT creators announced that a contest amongst interested participants would be held to win a ticket for a commercial flight aboard Blue Origin in 2024.

Additionally, owners may stake or burn their Moonboys. They will get $DARK as a result, which they may use to modify their NFTs. Given that this will make users' NFTs more distinctive and the platform is set to attract collaborations from famous NFT musicians, an increase in the value of Moonboys is forecasted.

## Bottom line

When it comes to Moonboys, they appear to be a promising community with a solid roadmap. These innovative NFTs are in high demand, and with good reason. They're unique and come with a ton of membership perks and utilities.

Owning one is a great way to be a part of an ever-growing community and enjoy fantastic bonuses and features.




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