Fancy owning a business where you not only get to keep all the net profits but are not liable for any losses? And you’re not even required to be onsite but have staff and management to take care of day-to-day operations on your behalf?
Sounds too good to be true, but Australian food hospitality brand Sushi Sushi is the first retailer in the world to offer a store for sale via cryptocurrency, with all of the above benefits as part of the deal.
For a cool million AUD in a choice or combination of bitcoin (BTC), ether (ETH), Cardano (ADA) or Solana (SOL), anyone over 18 can become the new owner of Sushi Sushi’s store on busy Cavill Avenue in Surfers Paradise on Queensland’s Gold Coast, with a non-fungible token (NFT) to prove it.
Munching into the Metaverse
According to Sushi Sushi CEO and director Scott Meneilly, the brand is “entering the metaverse” with this sale. “You have to innovate or die, and part of this is about stepping outside of your comfort zone and pushing the minds of others,” he says.
We see a massive opportunity in using blockchain, and we felt that selling a franchise store using crypto was a great way to let people know we are serious about playing in this space.
Scott Meneilly, CEO and director, Sushi Sushi
The successful franchisee will not need to physically run the business, Meneilly says, as Sushi Sushi will take care of daily management and operation while the buyer receives all the net profit. The buyer will also not be responsible for any losses.
We believe that this is the future and that people will follow our lead. We want to innovate in this space and create a groundswell of new opportunity. I am a crypto enthusiast and I believe this is a currency that needs to be approached, seriously and respectfully, and we feel the best way to underscore this is with a serious business transaction.
Scott Meneilly, CEO and director, Sushi Sushi
Before becoming CEO of Sushi Sushi, Meneilly was the chief executive of Boost Juice and previously ran Australia’s largest tanning salon business, Body Bronze, between 2002 and 2008.
Check the Fine Print
If you’re thinking of visiting the Sushi Sushi website to register your interest, prospective franchisees should be aware of the following details listed in the fine print:
You will be part of a “joint venture” with Sushi Sushi by buying its Cavill Avenue business in crypto to the value of A$1 million.
You will receive 100 percent of the net profits from Sushi Sushi Cavill Ave (sales revenue minus total operating costs, being all expenses incurred in operating the store, including a management fee payable to Sushi Sushi) [Crypto News Australia‘s italics].
You will receive an exclusive one-of-one NFT of Sushi Sushi Cavill Ave (although said NFT is “currently in development and will be shown directly to the purchaser before being released for public viewing”.
As they say in the classics, caveat emptor (let the buyer beware). Just last week, Crypto News Australia reported that Australian auction house Lloyds was auctioning 50 NFTs of classic ’70s Aussie muscle car the Holden Torana A9X. That’s virtually one every week between now and next Christmas.
Earlier in the week, Crypto News Australia published a guide on the five most interesting NFT projects launching on the Cardano blockchain this month. Follow this article for the low down on the five most interesting projects set for launch on the Solana (SOL) blockchain this month.
SolGame
SolGame allows NFTs to be traded new or on the secondhand market.
SolGame, a win-to-earn platform and Squid Game crypto fan project, is powered by a collection of 3,333 unique NFTs. Players can collect HD NFTs and generate passive income by holding specific NFTs. The project includes ultra-rare, animated drops, and cross-platform gaming. The concept allows users to mint new or trade SolGame NFTs on the secondhand market to make up their team, and participate in the daily competition for a chance to win.
Aurory Project
Encounter NPCs and Nefties in the Aurory game universe.
Aurory ($AURY) is a P2E (play-to-earn) desktop game in which players are invited to explore a rich and diverse universe. Players can travel across two different areas and biomes, called “Antik” and “Cryptos”, where they will meet an array of “NPCs” and “Nefties”, magical creatures which can be caught or traded. $AURY token can be earned via PvE and PvP game modes and through staking, while also tradable through a traditional DEX on Aurory’s in-game marketplace.
StarLaunch
StarLaunch is the first insured IDO launchpad and incubator for SOL projects.
StarLaunch, an Initial DEX Offering (IDO) launchpad for the SOL blockchain, is set for imminent launch. The project is an incubator for blockchain projects built atop SOL, which aims to connect projects with a community of backers. StarLaunch is the first insured IDO launchpad and incubator for SOL projects, with a stated goal of connecting its “community of backers with trusted and thoroughly vetted Solana blockchain projects”.
SolCaps
Customisable SolCaps.
SolCaps is a collection of 1,616 unique and randomly created NFTs and as a project aims to gather different users from different blockchains through fashion, specifically caps with crypto designs. The project is adamant that the community making it possible must have a voice and a vote on the future of SolCaps. This means that the project will donate to NGOs and the community will decide the best cause to help.
The SolCaps NFTs will be available for minting at a price determined through a vote by the community via the project’s Discord. Each item has a unique design based on different cryptocurrencies and will be available for users to use for a profile picture on Twitter or Discord, for example.
Dessert Girls
Aime, one of the Dessert Girls available for purchase.
Consisting of 2,222 algorithmically generated NFTs, Dessert Girls is a first-generation collection with a future breeding feature that will live in the Sweet Metaverse. Owning a Dessert Girl NFT will be the starting point, with players able to buy a Dessert Boy to make a couple. Each NFT will have visible physical traits but also character traits. After minting, the project will add ‘trait-extras’, allowing for customisation on the second market.
The Sweet Metaverse will make use of $SWEET coin, which will hold utility in the metaverse as a currency. The coin will be distributed to Dessert Girls holders at the start of 2022.
Adidas Originals has today launched its non-fungible token collection, titled Into The Metaverse, in doing so becoming the last of the big three sports footwear brands to join the NFT fray.
The Into The Metaverse digital asset will serve as an access token, promising holders exclusive first dibs on future merchandise, physical and digital product and services, rewards within its newly attained land plot in The Sandbox, and more.
How to Get Your Adidas NFT
The collection’s sale starts via the company’s official website on Friday, December 17 at a price of 0.2 ETH, about US$791 at the time of writing.
Early access takes place before public sale, with 20,000 tokens reserved for holders of: Adidas Originals POAP (Proof Of Attendance Protocol), gMoney POAPs, BAYC/MAYC NFTs, and all Pixel Vault NFTs.
A minimum of 9,620 Adidas NFTs are reserved for general sale, which will remain open until all NFTs are sold. Adidas and partners retain 380 NFTs with a portion allocated towards future events.
Earlier this month, Adidas announced it would be collaborating with Bored Ape creators and Yuga Labs to enter the metaverse, making a show of good faith by purchasing a Bored Ape Yacht Club NFT for 46 ETH, or US$156,000, at the time.
Then this week, Nike announced it had acquired RTFKT Studios, a digital art studio focusing on sneaker-themed NFTs and collectibles on the Ethereum blockchain, thus heralding its own first footfall in the metaverse.
In July, Japanese multinational sports apparel giant Asics stole a march on both Nike and Adidas, its two fiercest competitors in the footwear space, by launching its Sunrise Red NFT collection.
By way of expanding its metaverse footprint, sports apparel giant Nike has announced the acquisition of RTFKT Studios, a digital art studio focusing on sneaker-themed non-fungible tokens (NFTs) and collectibles on the Ethereum blockchain.
According to Nike CEO and president John Donahoe, “This acquisition is another step that accelerates Nike’s digital transformation and allows us to serve athletes and creators at the intersection of sport, creativity, gaming and culture.” He added: “We’re acquiring a very talented team of creators with an authentic and connected brand. Our plan is to invest in the RTFKT brand, serve and grow their innovative and creative community, and extend Nike’s digital footprint and capabilities.”
The move by Nike serves to cement its position in the metaverse and blockchain-based branding. Last month, the company launched NIKELAND in a collaboration with Roblox for an immersive 3D world. During that time, Nike had also submitted four filing requests to trademark virtual goods with the US Patent and Trademark Office.
Feels like the majority of the NFT influencers I follow have an RTFKT avatar this morning. Took Nike a couple years (and attempts) to take over the skate industry. They came in and swept the metaverse overnight.
Founded in 2020, RTFKT is a pioneering and innovative brand that redefines the boundaries of physical and digital value to serve its broad community of creators. Co-founder Chris Le has said that “when we first started, we had fun designing sneakers inspired by video games and making dope content and always trying to innovate”.
Nike has always been our inspiration. This is the start of a new chapter in the RTFKT story.
Chris Le, co-founder, RTFKT
The current NFT craze is really helping me to understand the wackadoo stories you sometimes hear about the late days of the dot-com bubble in the 90s.
"Nike just bought a virtual shoe company that makes NFTs and sneakers ‘for the metaverse’" https://t.co/2T8y8CsnHE
Adidas and Asics Beat Nike in Race to the Metaverse
Although now officially part of the metaverse, Nike won’t be the only sports apparel company occupying the space. Earlier this month, Adidas announced it would be collaborating with Bored Ape creators and Yuga Labs to enter the metaverse. Adidas had made a show of good faith by purchasing a Bored Ape Yacht Club NFT for 46 ETH, or US$156,000 at the time.
With a total prize pool of US$500,000 and over 700 participants, the latest Theta Hackathon has crowned winners first to third in four different categories.
Out of all the placing teams that took part in the hackathon, here are Crypto News Australia‘s five favourites:
StreamVerse
Streamverse is the lovechild of streaming and metaverse concepts and is a place where streamers go to “monetise their streams and moments without any third-party arbitration providing player interaction as [a] base layer”. Users will be able to move around in a 3D virtual environment with friends and other fans to watch their chosen streamers.
Streamverse’s 3D virtual environment.
The team set its sights on building a platform that was realistic and where fans could interact more closely with their favourite streamers. Moments you never want to forget can be captured and converted to an NFT without relying on a centralised entity. The project also has efficient applications for charity and esports use cases.
TKETS
TKETS is a decentralised ticketing platform that aims to solve the security problems that plague the industry. The platform is fully permissionless, meaning anyone who has a Metamask wallet can interact with the platform and create an event directly.
The TKETS dashboard.
For event organisers, each ticket is minted as a separate smart contract that only they own, and every ticket purchase locks the funds directly into the contract. This means that after the event ends, event organisers can withdraw their funds immediately and directly with no need for any other approval. And on the other side of the coin, if an event fails to happen, payments are redistributed to the buyers.
SCUBR
Scubr is a short video content-sharing application. The goal is to introduce people to the blockchain space without scaring them off with the complexity that comes with it. Users can post videos of their own and watch videos of other creators. Based on the views and likes received on their owned videos, users earn SET (SCUBR Engagement Token). Using this token, they can purchase merch from other users or even trade NFTs.
SCUBD video-sharing platform.
By minting NFTs from their videos, users can sell them on the marketplace and buy other people’s videos as well. When the project is fully realised, people could hopefully even buy videos from celebrities or influencers. Once a user purchases an NFT through the marketplace, the video is transferred from the seller’s profile to the buyer’s profile, and any subsequent views of the video are credited to the buyer.
OpenTheta
ThetaDrop is run by Theta Labs and is its third-party marketplace where only selected artists, influencers and creators are able to launch NFTs. OpenTheta is the first independent and public NFT marketplace on the Theta blockchain that will allow any user to create, launch, and trade NFTs.
OpenTheta homepage.
The marketplace has a launchpad to support creators launching their new NFTs. Buyers can also check the sales history of an NFT, which gives them an understanding of overall supply and demand.
The Bug Adventure Show
The Bug Adventure Show is an adventure game where competitors play for NFT prizes, tokens and achievements. Competitors will need to solve puzzles and riddles set out by the team, and only one player can play the game at a time while their actions are live-streamed for all to see.
The Bug Adventure Show in-game footage.
The point and click game will be broadcast through Edgecast and each player will have five minutes to solve a puzzle with all the data being saved on the blockchain. The next player carries on where the previous one left off, and the game will continue until there are no more players in the queue.
Here’s a list of some of the most interesting NFT (non-fungible token) projects coming out this month. Some are P2E (play-to-earn) with innovative features while others are joining the metaverse frenzy.
1. Meta Legends
Allow your avatar to roam the metaverse in Meta Legends.
Meta Legends is an upcoming NFT collection of 12345 avatars categorised by levels of rarity, and stored as ERC-721 tokens on the Ethereum blockchain. The auction starts on December 11, and the funds will be used to start a number of initiatives, such as building a metaverse called Meta Life, where the community will be able to stack crypto, own property and more.
2. ReforestNation
Grow your own forest and earn carbon credits on ReforestNation.
ReforestNation is a collection of real estate NFTs issued on the Cardano blockchain, where each NFT is a forest plot with its own carbon credit score, allowing users to offset their crypto carbon footprint. By becoming a member of ReforestNation, users gain access to the ecosystem, including the platform’s marketplace, and a personal portfolio that can be managed through the mobile app or website.
The protocol wants to bind the tokens to real-world lands and forests and benefit from them. Every NFT owner has the opportunity to participate in collective decisions on real-life forests and land.
3. Sugar Village
Sugar Village features customised sweet shops.
Sugar Village is a P2E virtual village where users can promote their virtual sweets. To get involved, users have to participate in the initial public sales or buy SHOPs from NFT markets such as OpenSea or Rarible. SHOPs are the customised stores on Sugar Village, which can be prepared to promote the users’ artworks or sold on the aforementioned marketplaces.
4. Inuland
Players can interact with their NFTs in the Inuland Metaverse.
Inuland is multiplayer P2E game where users can collect NFTs in the form of fantasy cosmos creatures known as Inhabited Inues. These creatures can be gathered, bred, and sold in the marketplace.
The community-governed Inuland Metaverse is where users can explore the wide range of more than 170 traits across nine different categories from 10,001 NFTs. By buying the protocol’s native token, INU, players have access to the INULAND P2E game and can earn rewards in the form of INU tokens.
5. Spatial
Spatial is a VR ecosystem accessible by phone.
Spatial is a platform where users can create 3D avatars by taking a selfie with their phones and interacting with other users online while exploring community spaces. The protocol provides a virtual reality ecosystem where anyone can share ideas and visualise them in their own spaces.
6. Property’s
Explore the metaverse and play P2E games in Property’s.
Property’s is an Ethereum-based metaverse hosting 6000 NFTs that users can own in the Property’s metaverse. Besides exploring the metaverse and interacting with other users, players can compete in P2E games or even create their own (and receive) rewards.
Pretty much whatever you do in real life can be done in the Property’s metaverse, from admiring art pieces and purchasing them to attending music festivals and events.
Presale began on December 10, public sale from December 12.
7. World of Norja
Be an orc, a paid mercenary fighter in the World of Norja.
World of Norja is a P2E game where users (orcs) embody mercenaries and embark on a journey in the land of Norja, conquering and exploiting other lands to earn money. Every mercenary is rewarded with $NORJA, the game’s native token. Players receive tokens via airdrop for being part of the army, but they can win more by participating in quests, dungeons, and disputes over territory control. There are 10,000 orcs stored as ERC-721 tokens, each orc unique with equipment and characteristics randomly generated.
8. Lilims
Lilims are an NFT collection of 3,666 hybrid demons with feminine aspects, each of them unique with different traits.
Hybrid feminine demons pose as hand-drawn assets on Lilims.
Lilims will be revealed on December 15, all of them generated via hand-drawn assets. Buying a Lilim is straightforward – simply click the “Mint a Lilim” button to get one. To avoid expensive gas fees, the protocol has chosen the Matic network over Ethereum.
9. Remember
A dedicated commemorative artwork in the Remember metaverse.
Remember is billed as the first commemorative metaverse. Users can craft Memorial Stones, which are dedicated artworks to commemorate the stories of loved ones as NFTs. These also provide users with a key to their personal Memorial Hall, where they can keep, curate and celebrate their memories.
Metaverse NFT projects have been in development behind the scenes prior to the metaverse becoming a buzz term after Facebook’s recent announcement. But what exactly is the metaverse? and which games are worth checking out?
The idea of the metaverse is that of a virtual and immersive online only world. If you’ve ever seen the movie Ready, Player One, you might have an idea of how a metaverse could look. Within these worlds, an avatar represents you and you are free to interact with other people and places (occasionally replicated from real life).
This mass multiplayer format (MMO) often seeks to develop its own governance and economy. This is where in-game tokens and NFT assets can represent some kind of value through uniqueness and scarcity.
Typically, there are four main components of metaverses and their NFTs are
Transparency: Anyone can check the blockchain to find more information about the NFTs and their transactions.
Decentralisation: There is no central entity controlling the metaverse. It should be an equitable experience for all.
Real-life value: Any tokens you encounter within the metaverse should be tradeable on external markets.
User governance: The players should have a say in changes implemented within the metaverse, via a vote.
Some metaverses can be explored for free, and you can acquire the NFTs or in-game tokens from airdrops and giveaways, then participate in play-to-earn aspects. However, most require you to purchase digital assets from NFT marketplaces using your DeFi crypto wallet such as MetaMask.
This article will highlight what we believe to be the current top 10 metaverse NFT projects available. Here, we will address what comprises each project, how it is unique, and where NFTs fit into the game.
Decentraland is the metaverse NFT project that allows its players to truly immerse themselves in the game. Compatible with online browsers and VR technology, Decentraland leverages the Ethereum blockchain to monitor the buying and selling of virtual real estate, known as land. How you use your land is entirely up to you; your possibilities are near endless. However, the goal of Decentraland is to create a collaborative user network through peer-to-peer communication.
The concept of buying land is not unique to Decentraland, yet $MANA is. $MANA is a cryptocurrency specific to the game. Land and artwork, which take the form of NFTs within Decentraland, can only be bought with this currency.
Axie Infinity – battle with your new little friends.
Developed by a Vietnamese studio, Axie Infinity brings Pokémon-style characters to an NFT-based metaverse. If you’ve been seeking cute, blob-style pets that you can use to battle against other players, Axie Infinity may be the game for you. Operating on the Ethereum blockchain, the game revolves around breeding, raising, and battling your Axies.
Both the land and the Axies you purchase are NFTs sold via the in-game marketplace. Most of the transactions within the game take place on Ronin – a tailored sidechain offering lower fees than you’d ordinarily find on the main blockchain. The game design itself is simplistic, colourful, and attractive to the eye.
The Sandbox combines the blocky terrain of Minecraft with the metaverse concept to provide players with a play-to-earn universe. The Sandbox only launched last month after four years of development. It allows players to earn its currency ($SAND) by completing game quests or through the sale of their digital assets.
NFTs can be found within gameplay in the form of land. Once you purchase a piece of land, you have the option to begin creating your own minigames that you can publish, charging token fees to play. Beyond creating your own games, a key aspect of The Sandbox is allowing its players a say in the metaverse governance.
If you’re a Destiny fan or like to explore the latest RPGs (Role Play Games) in your free time, Star Atlas is offering its own metaverse NFT take on these concepts. Star Atlas presents an MMORPG (mass multiplayer online role-playing game) that gives you the power to create a character and a spaceship and explore outer space in an open-world game style. Star Atlas’s unique appeal comes from the opportunity for players to buy in and partly own the game.
$ATLAS and $POLIS are the two in-game currencies. While Star Atlas is play-to-earn, you can purchase NFT-style game features across the in-game market and contribute to a robust virtual economy.
CryptoVoxels is another play-to-earn, Minecraft-style metaverse. Developed by a New Zealand company and listed on the Ethereum blockchain, CryptoVoxels is one of the less creatively impressive metaverse on this list. However, what it lacks in aesthetics it makes up for in versatility and gameplay, being categorised as a game of financial strategy.
Ethereum is the sole payment method within this metaverse. You can use it to purchase collectibles or collections, and land. CryptoVoxels is versatile in supporting platforms, which include the options to play online, on Android, or on VR.
Bloktopia is a fluorescent sci-fi VR metaverse with many real-life connections. The game itself is played within a 21-storey skyscraper called ‘Bloktopia’, where ‘Bloktopians’ have the option to earn tokens ($BLOK) through advertising revenue, network building, real estate, and more.
The real-life links within the game can be found in advertisements from companies such as Polygon, Animoca Brands, and Jake Paul, visible on billboards within the game’s trailer. The game is heavily designed around incorporating NFTs and profiting from your endeavours. However, the gameplay seems well-designed and might be quite immersive in VR.
Starl – become a landlord, customise yourself, explore.
The Starl metaverse functions similarly to other projects on this list. You can buy land within the game to use as you please. With your virtual real estate, you have the option to rent it out to other players, which seems to be unique to the Starl metaverse. Beyond this, you can interact with real people, customise your avatar, explore and gamble.
$STARL is the token used within this metaverse, tradeable for other cryptocurrencies or for fiat money. The opportunities for your in-game tokens spring from an interconnected economy within the metaverse’s ecosystem.
Somnium Space – where the Sims meets VR technology.
Somnium Space presents a metaverse that feels like the Sims. It is an open-world, virtual society that you can interact with via PC or mobile; however, to get the full experience and really jump into the game, you may want to connect it to a VR headset.
Somnium Space tracks your purchases (via $CUBE) on a blockchain, allows you to monetise your experience, own virtual real estate, and live ‘forever’. In recent exciting news, there may be potential in the future to see Somnium space partner with TESLASUIT for a boosted VR experience.
Nakamoto Games considers itself the play-to-earn revolution. Evident in its mission, Nakamoto seeks to give every person the opportunity to earn crypto and generate a sustainable income. $NAKA, the metaverse’s token, is necessary to access the ecosystem. Naka tokens can be entered into a weekly prize pool and players who rank highest on the leaderboard can win a share from this pool.
Anyone with a crypto wallet can enter this metaverse to play. However, if you consider yourself more of a developer, you can create and monetise games within the metaverse that can generate you a return. If you aren’t that tech-savvy, it’s worth noting that anyone with Naka tokens can contribute to the metaverse governance instead.
You can ‘be your own hero’ in Metahero’s which boasts Ultra-HD photogrammetric scanning technology to bring yourself and real-life places into the game. Within this metaverse, you are likely to encounter gaming, fashion, medicine, NFTs, social media, and VR/AR capabilities.
The $HERO token is the sole currency belonging to this digital ecosystem. Metahero is paired with Wolf Digital World (WDW), and together they define their partnership as two separate companies with one life-changing mission. This metaverse aims to allow its players to do anything in the digital world that they can do in the real world. You also get the ability to create NFTs that you can use to auction, trade, or sell as you see fit. However, it may be exciting enough just to copy yourself into a video game.
Conclusions
Whether it’s buying and selling virtual real estate, creating and monetising your own minigames, or playing to earn, metaverses provide many crypto-related opportunities.
The creation of NFTs, known as “minting” allows players to truly own any digital assets that they purchase within the game. Then, thanks to blockchain technology, these purchases and trades can be traced to verify their true ownership.
Metaverse projects are designed to create safe spaces for play and for financial transactions. With these various metaverses offering platform compatibility via smartphones, VR headsets, and computers, what these digital worlds can offer is extensive. It is likely that the future will only bring more versatility to this industry.
If you consider yourself to be a gamer or a crypto lover, it may be worth keeping up to date with this technology as it evolves.
Humans of the Metaverse, a new and unique collection of Meta-Human NFTs, is launching in-game virtual NFT art auctions. In Q1 of 2022, users will be able to access one-for-one artwork NFTs, all using the project’s native token, $HOTM.
Humans of the Metaverse (HOTM token) has exciting prospects amid the metaverse boom. The project comprises a collective of 6,500 unique Meta-Human NFTs, stored as ERC-721 tokens on the Ethereum blockchain and hosted on the InterPlanetary File System (IPFS), which is essentially a distributed system for storing and accessing files, websites, applications and data.
Residents of the Metaverse are represented by a unique composition from 200 traits collected from the most notable and influential personalities, taken from all temporal spaces. The project is on the road to creating the “MetaCity” – a fully integrated Web3 ecosystem where HOTM token holders will reside and be able to spend the project’s native token, $HOTM, in an increasing number of ways, giving long-term value and utility to holders as the city grows.
Holders of Humans NFTs will be able to perform various activities and “interact” with a range of buildings within the HOTM ecosystem via the $HOTM token.
Humans of the Metaverse Roadmap
Within the MetaCity, Humans will be able to generate tokens via ‘jobs’ – another trait conferred on the NFTs. Each job determines the specific NFT’s $HOTM generation rate, and ‘salaries’ will range between 10-30 $HOTM/day. Along with token generation, holders will be able to invest in real estate by buying land and city essentials, along with buildings, each of which is upgradeable to allow evolution and expansion.
Within the metaverse will be a museum where Human NFT holders will be able to spend $HOTM on 1/1 artworks, personalised Humans tailored to their holders’ likeness, along with NFTs from other projects. The project, however, wants to make it clear that 1 $HOTM = 1 $HOTM, which means these tokens do not have a monetary value.
Initial Humans NFTs Sold Out But More Available on Secondary Market
According to the HOTM website, the initial set of Humans NFTs sold out within 15 minutes on the OpenSea marketplace, and over 100 ether (ETH) was traded in the first hours of the sale. Do not fear, however – Humans NFTs are available for purchase on the secondary market to all those who missed out during the initial sale.
🚀 Sold out in 15 mins! ⚡️ Over 100 ETH traded in the first hours!
The term “metaverse” is relatively new to the world of cryptos, but that has not stopped the concept booming. Exhilarating projects are on the rise and it is fast becoming the next big investment theme, according to financial powerhouse Morgan Stanley.
Last month, the global banking giant issued a statement to its investors in which it notes the metaverse is garnering much attention, with both Meta (formerly Facebook) and Microsoft venturing into the space. Accordingly, Morgan Stanley said, “it can fundamentally change the medium through which we socialise with others”.
Adidas is collaborating with Bored Ape creators Yuga Labs and others in the space to enter the metaverse. And in a show of good faith that has attracted its fair share of derision, the global apparel brand has bought its own Bored Ape Yacht Club non-fungible token (NFT).
Adidas is also teaming up with NFT collector Gmoney and Punks Comic, a CryptoPunks-inspired unofficial Ethereum NFT derivative project.
Adidas Pays $156k for Single BAYC NFT
According to data from OpenSea, Adidas purchased Bored Ape Yacht Club NFT #8774 in September for 46 ETH, or just over US$156,000 at the time, and will rebadge it as a metaverse character called Indigo Herz. Rabid BAYC enthusiasts have paid as much as US$1.29 million for a single NFT.
Via Twitter, Adidas also recently announced a collaboration with upcoming Ethereum-based metaverse game The Sandbox.
Twittersphere ‘Welcomes’ Adidas to the Metaverse
Speaking of Twitter, reactions to Adidas’s leap into the metaverse have been mixed, to say the least. “We can’t wait to see Adidas in the metaverse,” tweeted Meta, the social media behemoth formerly known as Facebook, which has its own designs on the metaverse.
“This is the Sandbox metaverse, not Mark’s [Zuckerberg’s] metaverse. Or any clarification @Meta on where your metaverse will be?? at the @Roblox maybe? lol,” tweeted @horsesnft.
“Hopefully Adidas decides to stay in the cool parts of the metaverse, not Zuckerville,” tweeted @Lucky5Micah. Or this, from @marmish: “Cringe. So desperate to be cool.”
Summing up the negative responses was this tweet from @NFT_invest: “Good luck bitches! This is our space!”
Asics Beats Both Adidas and Nike to the NFT Punch
Like its primary competitor Nike, which has yet to bring its CryptoKicks patent to market, Adidas has been relatively slow off the blocks in the NFT race. Japanese multinational Asics stole a march on both brands back in July with the launch of its 189-piece digital footwear collection.
Mobox (MBOX), part of the GameFi sector, a combination of decentralised finance (DeFi) and gaming, combines non-fungible tokens (NFTs) and yield farming to create a play-to-earn ecosystem. The project aims to connect metaverses through NFTs, as well as achieve NFT interoperability across various platforms and games.
Mobox has effectively launched its metaverse, MOMOverse, on the BSC, a cheaper alternative to the Ethereum network that is also compatible with the Ethereum Virtual Machine (EVM). At the time of writing, MBOX was trading at US$10.04, according to data from CoinGecko, which represents a 164 percent increase over the past 30 days.
Million-Dollar Mobox(es)
According to the Mobox announcement, users will be able to create their own avatars to represent themselves in the MOMOverse. Avatars will also be able to mine MBOX, Mobox’s native token.
With the launch of the MOMOverse Phase One, the company is also giving away 5000 Mystery Boxes to the value of over US$1,000,000:
MBOX will allow its users to stake its native coin to earn rewards called Mystery Boxes. The MOMOs revealed from the Mystery Boxes will be mining the MBOX token [and will] increase the node hashpower so you can mine more MBOX tokens.
Mobox announcement
Metaverse Tokens Shoot to the Moon
As NFTs continue to boom, metaverse projects and tokens are also on the rise, with many new and exciting projects preparing to launch. For an in-depth look at four of these projects, check out this Crypto News Australiaguide.
