In this week’s newsletter, read about Meta’s plans to expand their nonfungible token (NFT) testing on Instagram and Facebook. Check out how soccer legend Cristiano Ronaldo is planning to introduce his fans to Web3 through NFTs and how the rap legends Snoop Dogg and Eminem featured Bored Ape Yacht Club (BAYC) characters in their latest music video.
Join Cointelegraph’s Tom Farren as he shares details from an event called The Digital Diaspora as part of last week’s NFT.NYC conference. And, don’t forget about this week’s Nifty News roundup featuring Yuga Labs and NFT platform X2Y2 surpassing OpenSea’s volume.
Meta set to begin testing NFTs on Instagram Stories with Spark AR
Back in May, Meta started testing digital collectibles on Instagram. Last week, Meta CEO Mark Zuckerberg announced that his team is expanding its NFT testing so that creators can soon display their NFTs on the social platform.
Besides Instagram, Zuckerberg also said that NFTs will also be supported by Facebook in the near future, starting with a small group of creators based in the United States. Additionally, the Meta CEO mentioned that the NFT testing will eventually branch out to Instagram Stories soon, saying that it will also test NFTs with the augmented reality software SparkAR.
Cristiano Ronaldo to get soccer fans into Web3 with Binance partnership
Soccer legend Cristiano Ronaldo partnered with crypto platform Binance last week to introduce his fans to Web3 using NFT campaigns. The agreement involves an exclusive multi-year partnership, where Ronaldo will collaborate with Binance to create NFTs.
These digital collectibles will be sold exclusively on the Binance NFT platform and will let fans have exclusive engagement opportunities with the football star. Ronaldo explained that he values his relationship with his fans, and the idea of NFTs and giving new experiences is something he wanted. On the other hand, Binance CEO Changpeng Zhao commented that their team is excited about the collaboration.
Related: Metaverse can’t be built on the corporate business model, says EY innovation lead
Eminem and Snoop Dogg turn into BAYC chars in new music video
Legendary rappers Eminem and Snoop Dogg featured their Bored Ape Yacht Club characters in their newest music video titled From The D 2 The LBC. The video switched from reality to cartoons as both of the rappers dropped their bars on the microphone.
Eminem switched between himself and a character resembling BAYC #9055, which he previously bought at 123.45 Ether (ETH), around half a million dollars at the time of the purchase. Meanwhile, Snoop Dogg also switched between himself and a Bored Ape character that he purchased in December 2021.
NFT.NYC — How the Web3 space is validating the work of digital artists
Cointelegraph’s Tom Farren attended an event called The Digital Diaspora during the NFT.NYC conference at New York City. At the event, artists shared their experiences and processes of creating art. NFT artist Diana Sinclair shared how a work of art called You Cant Smooth A Crumpled Paper Or A Wrinkled Heart came to life.
Apart from the sharing of experiences, the event’s panel members also talked about representation in the NFT space. During this, 3D animator Andre O’Shea spoke about how inclusive the Web3 space is. According to O’Shea, Web3 provides opportunities and uplifts creators and voices.
Nifty News: Yuga Labs breaks silence, X2Y2 outpaces OpenSea and more
NFT firm Yuga Labs answered allegations that alt-right memes were integrated into the Bored Ape Yacht Club (BAYC) imagery. Gordon Goner, the co-founder of Yuga Labs, tweeted that the allegations are “insanely far-fetched.” Meanwhile, sales volume on the X2Y2 NFT marketplace has surged past OpenSea in the past week.
Thanks for reading this digest of the week’s most notable developments in the NFT space. Come again next Wednesday for more reports and insights in this actively evolving space.