This Week’s Alpha
On God: The popular NFT collection DeGods experienced a surge in sales after announcing its upcoming Season III collection. Trading volume increased by nearly 200% within 24 hours of the announcement. Notably, the collection will include female-presenting NFTs that can be swapped for male-presenting ones. Each individual DeGod NFT will also have four generative art pieces associated with it.
Hot chain Summer: Coinbase, the largest crypto exchange in the U.S., officially launched its Base blockchain. The new blockchain is built on top of Ethereum and already has over 100 compatible decentralized apps (dapps) within its ecosystem.
Aptitude test: Aptos, a layer 1 blockchain started by former Facebook employees, announced a partnership with Microsoft to expand its tools using AI technology. The collaboration will involve testing and developing new offerings, including an AI chatbot powered by OpenAI. The companies will also explore blockchain-based financial-service products.
Project Spotlight
“Kingdom of the Laughing Man” by Yue Minjun: Renowned Chinese artist Yue Minjun released his first NFT collection called “Boundless.” The collection features 999 generative artworks inspired by Minjun’s iconic self-portraits. The NFTs were listed for sale on LiveArt and sold out within two hours, generating $1 million in primary sales.
In Other News
Other notable news include:
- Musician Grimes made more money from selling her NFTs than from making music.
- A new competition reality TV show called “The Next Crypto Gem” will feature 16 crypto enthusiasts competing for a chance to win a six-figure prize package.
- Holoride, an Audi-backed VR startup, is launching an NFT staking program in partnership with XOXNO.
- Elvis Presley avatars are now available on metaverse platform The Sandbox.
Non-Fungible Toolkit
4 Actual, Practical Use Cases for Blockchain and AI
AI and blockchain have real use cases that can create consumer-friendly solutions. Here are four ways they can converge:
- Verification: AI can be used to verify the authenticity of NFTs and digital assets.
- Ownership: Blockchain can provide a decentralized and immutable record of ownership for digital assets.
- Creativity: AI can assist in the creation of generative art and unique digital experiences.
- Consumer Protection: Blockchain and AI can work together to protect consumers from scams and fraudulent activities in the crypto space.
Hot Take
The combination of blockchain and AI has the potential to revolutionize various industries, including art, finance, and consumer protection. As we see more innovative use cases emerge, it’s clear that these technologies are here to stay and will continue to shape the future of our digital world.
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