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NFTY Labs

NFT Journal: Chapter Forty-Three

It is with great delight that we welcome you to the NFT Journal’s forty-third edition.

Exciting NFT Projects You Can Try Out In June 🛎️

A thrilling hunt for hidden NFTs is currently ongoing on Netflix. Love, Death, and Robots, a popular Netflix show, has placed nine NFTs embedded in nine QR codes dispersed on billboards, social media accounts, and episodes of the animated series. The NFT collection is only available to lucky U.S-based viewers who will scan the code to receive an NFT on OpenSea.

GameStop has launched a digital wallet for keeping and managing cryptocurrencies and NFTs. The wallet will handle Ethereum-based digital assets and will be used to trade NFTs in the company’s upcoming NFT marketplace.

GameStop Wallet Beta

Another experimental NFT idea is listing unoccupied hotel rooms on an NFT platform. A hotel in the Dominican Republic allows users to book rooms by purchasing non-refundable NFTs, which helps solve the problem of recurrent booking cancellations that often result in revenue loss. This ground-breaking service will enable users to sell NFT bookings in the event of cancellation and get the booking fee while the hotel makes its profit.

A Robinhood-styled Digital Reparation ♞

During the late 1800s, colonial masters plundered African antiquities, moving a lot of them to Europe. Looty, a Nigerian-led project, seeks to digitally repatriate lost African treasures by scanning British museum objects and creating NFTs of them. It also plans to donate 20% of the proceeds to support African artists after the sale. However, this may be construed as a digital robbery, which could spell trouble in paradise.

Screenshot of the design process on an image of a looted artwork from Nigeria

Also, scammers are increasingly using a variety of tactics to defraud individuals of their digital assets. They pose as Crypto journalists, members of popular NFT collections, and Metaverse games like BAYC, Okay Bears, and Moonbirds to promote phony platforms that access victims’ data allowing them to steal their digital assets.

Market Round-up 🚀

Bored Ape Yacht Club and Otherdeed NFTs are the first and third most expensive NFTs sold last week, respectively, while CryptoPunk NFTs are second, fourth, and final.

With a volume of $44.32 million, Terrafoams by Mathcastle maintains the top NFT collection. Goblintown NFT came in second with $23.06 million. Otherdeed, Catgirl Academy, and AIMoonbirds ranked third, fourth, and fifth, respectively, with $16.74 million, $11.67 million, and $8.65 million in volume.

OpenSea and LooksRare, as expected, remain the top NFT marketplace ranking. With $52 million, $5.95 million, and $5.06 million in volume, Magic Eden, CryptoPunks, and BloctoBay are the last three on the top 5 list.

Top NFT Marketplace Ranking

On the investment front, Highlight, a Web3 fan-community platform, secured $11million in its recent funding round to expand its business services.

Also, Sequoia Capital India spearheaded a $36.8 million investment in a Metaverse start-up called BUD.

About NFTY Labs

NFTY Labs is a Web3 Incubation Studio focusing on the growth of NFT ecosystems by building open-sourced, community-based tools that will unlock inherent utility and value within NFTs. NFTY Lab’s goal is to create new applications that offer new utilities for NFTs, and we aim to do this by utilizing a core feature of all NFTs: ownership.

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