Avalanche Launches Avaissance to Boost NFT Ecosystem

The Avalanche Foundation has launched Avaissance, an initiative aimed at supporting digital artists and boosting the growth of the Avalanche NFT ecosystem. Avaissance includes two main components: the Artist in Resident program (AIR) for over 50 artists and the Mona Lisa Initiative (MLI) to curate digital art and expand the collections of art-focused DAOs. The AIR program will provide funding, mentorship, and virtual workshops for six months to artists of any skill level. Meanwhile, the MLI will collaborate with DAOs’ curatorial teams to promote emerging Avalanche NFT artists and establish an “Avalanche Permanent Collection.”

In other NFT news, Ticketmaster has announced a new feature called token-gated ticket sales, which allows artists to reward NFT holders with exclusive benefits such as special presales, prime seats, custom travel packages, and access to unique concert experiences. This functionality was developed after American heavy metal band Avenged Sevenfold (A7X) approached Ticketmaster and its Web3 team, Bitflips, for help implementing a service that would allow holders of its NFTs – Deathbats Club, a collection of 10,000 unique Deathbat NFTs – to unlock perks and access to events. The feature works with tokens minted on Ethereum and stored in decentralized application (DApp) wallets like MetaMask or Coinbase.

Patrick Amadon, a popular NFT artist, recently withdrew his work from a major auction house, Sotheby’s upcoming “Natively Digital: Glitch-ism” art sale, to protest a lack of female representation. He shared his decision with his 142,400 Twitter followers, and Sotheby’s responded the next day by announcing that it would pause the sale to “redress the imbalance in representation within the sale” and relaunch later with a “more equitable and diverse group of artists.”

Mike Winkelmann, also known as Beeple, recently shared a video with his Twitter followers, revealing his new 50,000-square-foot studio in South Carolina. According to Beeple’s website, he will use the space to create his artwork and host events to “showcase the very best art and communities.” The website stated that they are looking to partner with the most cutting-edge artists and communities to put on events that are not possible at any other venue.

On March 25, an NFT from the popular CryptoPunks collection valued at approximately $135,000 was accidentally burned by an investor attempting the process of NFT wrapping to potentially borrow liquidity from it. While the loss was unfortunate, it highlights the importance of proper education and caution when dealing with NFTs.


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Azuki NFTs Sells the 8th Most Expensive Skateboard

Azuki is making history, the Web3.0 brand renowned for its Non-Fungible Token (NFT) innovations, as it sold out the 8th most expensive skateboard in the world.


The brand announced the successful completion of its Golden Skateboard auction on Sunday as it announced 8 winners of the extremely rare work that embodies a mix of art and technology.

According to the startup, the cheapest bid it received for the golden skateboards was 200 ETH, worth approximately $266,518, based on the price of Ethereum pegged at $1,332.59 at the time of writing.

“The Golden Skateboard is a marvel of art & technology showcasing our first implementation of PBT, which paves the way for a new era of storytelling,” Azuki said in its Twitter announcement, adding that it “broke the record for the most expensive skateboard ever sold (in fact, the 8 most expensive skateboards ever sold).”

As revealed by the NFT startup, the highest bid received for the Golden Skateboard NFT was 303 ETH (approximately $403,774.77) and was snapped up by a Twitter user with the username, @Johnf696969.

Some iconic NFTs are known to go on sale for expensive amounts, and this sort of mega collection is commonplace in the space. While the sales of the Azuki skateboards are impressive, there are collections like the Bored Ape Yacht Club (BAYC), World of Women (WoW) and the Moonbirds NFTs amongst others have also recorded massive sales prices over time. 

Azuki as an NFT brand has inked a unique spot for itself amongst the most elite of collections, now ranked as the 4 most valuable collection. The Azuki NFT is currently trading at a floor price of 11.5 ETH with a market capitalization of 140,538.45 ETH per data from CoinMarketCap

In all, Mike Winkelmann, the digital artist known as Beeple holds the title for selling the most valuable NFT to date. His Everydays: The First 5000 Days collage was auctioned for $69.3 million back in March 2020 and was later revealed to be snapped up by Metakovan.

Image source: Shutterstock


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Christie’s Launches Venture Capital Arm to Support LayerZero for Art Trading

London-based British auction house Christie’s has announced its undisclosed investment in LayerZero, the first ever commitment it will be made through its new investment arm- Christie’s Ventures.


As revealed by the company, Christie’s Ventures will deploy funds to back emerging tech startups and financial innovations that are relevant to the art market.

“As a global leader in the art market, Christie’s has both an incentive and a responsibility to further innovation and deepen experiences for our clients,” said Ben Gore, Christie’s Chief Operating Officer, adding that “the intersections of technology and financial products are increasingly relevant and prevalent, and we believe strongly in the opportunities ahead. For the companies we select to work with, as well as for our clients, the Christie’s Ventures value proposition combines the power of our brand and capital together with our network and expertise; it is another example of the formidable Christie’s Advantage.” 

The new Christie’s Ventures offshoot will be led by Devang Thakkar, who said the investment arm will “focus on products and services which can solve real business challenges, improve client experiences, and expand growth opportunities, both across the art market directly and for interactions with it.”

Christie’s has always been setting the pace when it comes to embracing digital innovations. The company signalled its full backing for the digital currency ecosystem and Non-Fungible Token (NFT) offshoot when it helped auction Mike Winkelmann’s record-breaking NFT collage dubbed Everydays: The First 5000 Days.

The NFT was later revealed to be acquired for $69.3 million by Metakovan. Per the ultimate goal of Christie’s Ventures, any startup with the promise of advancing arts reach will be getting financial and professional support.

More major industry players across both Web2.0 and Web3.0 are floating funds through which they plan to invest heavily in Web3 initiatives. With the investment into LayerZero, Christie’s has revealed how willing it is to deepen its ties in the nascent blockchain world.

Image source: Shutterstock


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Axie Infinity Sells a Genesis Virtual Land Slot for 550 ETH

The most expensive virtual real estate in the Non-Fungible Token (NFT) metaverse has just been sold.

According to a Twitter post by Axie Infinity, a blockchain-based gaming protocol, one of the rarest virtual lands dubbed the Genesis Land Plot was sold for 550 ETH worth approximately $2.48 million.

The Axie Infinity game is one of its kind in the blockchain world whose success since inception has continued to trail the blaze across the board. Developed by Vietnamese studio Sky Mavis, Axie Infinity lets players collect, breed, raise, battle, and trade token-based creatures known as Axies. These Axies live in a virtual world called Lunacia, a 301×301 square grid where each section represents a tokenized plot of land called Terra, which players can also buy, sell, or rent out to other players at will.

The Genesis plot is one of the 220 out of 90,601 land slots that exist in the Axie Infinity world. Beyond selling the plot for 550 ETH, Axie Infinity’s native token, the AXS which users can earn from playing the game, is one of the best performing tokens thus far this year. At a current price of $141, the token has grown by 114409.77% since it printed its all-time low (ATL) price of $0.1234 exactly a year ago per data from CoinMarketCap.

NFT Bogus Valuation: Bubble or New Reality

It is not uncommon to see NFT and metaverse-related digital collectables sell for a very expensive amount of money. While Beeple’s Everydays: The First 5,000 Days remains the most expensive NFT piece sold to date at a price of $69 million, many critics have wondered whether the entire NFT ecosystem is in a bubble or not.

Since the Beeple sale back in March, a number of innovative NFT collections have emerged, all brandishing massive valuations that suggest collectors’ interest is not tapering down in the near term. NFTs are arguably in their infancy, and with room for additional groups, the piece of tech they represent, and the valuations they attract may appear to be the new reality in today’s digital collectable world.

Image source: Shutterstock


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Beeple NFT Sells at Auction for $69.3M, The Biggest NFT Sale to Date

A non-fungible token (NFT) based on artwork has been auctioned for approximately $69.3 million on Thursday by an unidentified collector.

The auction which took place at Christie’s auction house is the biggest for a digital-based artwork and had about 33 bidders, one of whom is Tron’s Founder, Justin Sun.

The auctioned NFT was an artwork by Mike Winkelmann popular known as Beeple. The artwork, called “The First 5,000 Days” takes its origin back to 2007 when Beeple discovered digital art and he set out to create a piece per day, an exercise he has never missed a day on since then. The collection of the first 5000 pieces of creations was collated and turned into the NFT that now ranks as the biggest sale to date.

NFTs are pulling mind-blowing numbers in terms of selling prices today. Prior to this current record-breaking sale, the highest-auctioned NFT was Beeple’s own work which with the parting sum coming in at $6.6 million.

“As soon as I saw it, I saw it as this massive, massive potential for this as a platform for digital ownership of a bunch of different things, not just art,” Beeple said of the burgeoning NFT marketplace. “Moving forward, I think this will be seen as an alternate form of asset class.”

NFTs despite the hype they are generating in terms of their selling figures, have real-world use cases as they can help to register the ownership of any item on the blockchain. With NFTs, works of art cannot be counterfeited, creative contents will no longer be pirated as all ownership and authentication processes take place on a public blockchain that can be verified by anyone, anywhere.

With the pace NFT has set since the beginning of the year, this year may eventually turn out to be for NFTs, what 2020 was for decentralized finance.

Image source: Shutterstock


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