Your monthly cup of NFTs, with updates and refreshing insights on all that is brewing in the Web3 digital art and collectibles space.
HOT FROM THE WEB
How much has Yuga Labs made in royalties?
Yuga Labs total NFT sales have reached $5 billion, earning the NFT and metaverse studio a cool ~$150 million in royalties to date. The majority was earned via a 5% creator fee on their Otherside metaverse land NFT, with the rest mainly earned from a 2.5% creator fee on their Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) collections.
Untranslatable Words - The first-ever NFT collection using OpenAI's DALL•E 2
LinkedIn co-founder Reid Hoffman releases NFTs made by artificial intelligence. Hoffman used OpenAI’s DALL-E to render high quality images from text descriptions, inspired by words with no single-word translation in other languages. This was made possible due to OpenAI recently allowing commercialization of its output. Questions have been raised as to whether or not AI can create true art.
Coca-Cola drops pride-inspired digital collectibles benefiting LGBTQIA+ charities
Coca-Cola partnered with fashion designer and LGBTQIA+ advocate Rick Mnisi to celebrate Pride Month with a collection of 136 digital NFT collectibles in a nod to the 136-year history of the brand. Each design incorporates the iconic Coke glass bottle reimagined through a colorful kaleidoscope. All sale and resale revenues will benefit LGBTQI+ charities with the first recipient to be South Africa’s OUT LGBT Well-Being.
The “Cristóbal Balenciaga: To the Moon” NFT collection is one for the ages
Fashion house Balenciaga drops the “To The Moon” NFT collection based on over 8,000 never-before-seen hand-drawings by Cristóbal Balenciaga. Each NFT comes with a real-world utility, such as the chance to redeem physical items, including an original hand drawing from Cristóbal, designer bags, and wallets. The additional utility includes tickets to metaverse concerts and other special events.
$3.2 million in revenues have been paid to 139 artists by NFT music platform Sound.xyz in a 7-month period. This works out to be an average of $23,000 per artist. The most notable drops include Snoop Dogg ($2mil in sales) and Pussy Riot ($364k in sales). Upcoming drops include releases by Luca Maxim, Pat Dimitri, Grentperez, Jazii, and AbJo.
KIA America releases NFT Collections with the 2023 launches of their Kia Soul and IONIQ 6 vehicles
The Kia Soul #BuiltForWhoeverYouAre promotional campaign is the first one to take NFTs for a ride. It features the most popular characters from The Dead Army Skeleton Klub’s (DASK) collection of 6969 3D avatars going for a night cruise. In addition, Kia’s electric vehicle (EV) the IONIQ 6 was launched with a collection of 5000 unique NFTs in an expansion of their Hyundai Metamobility universe. NFT holders will be given unique experiences and utilities as part of their IONIQ Citizenship. These include VIP access to their parent company’s virtual space Planet Hyundai and the chance to redeem a custom physical phone case from NFT Your Case (NFTYC).
A recently released NFT market report from VMR predicts a 20x increase in the global value of the NFT market to $230 billion by 2030 compared to $11 billion in 2021. The key driver of this growth is the accelerated mainstream adoption of the technology and its products across different industries such as sports, entertainment, gaming, and lifestyle.
Over the coming months, newkinco will be experimenting with NFT-enabled community building and governance, in addition to ‘evolving’ our Anitya Life Forms NFT collection. We’re staying tight-lipped about our plans for now, so watch this space. Exciting updates coming soon!
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