💰 Big moves despite the bear market
Walmart, Disney and Warner made bold moves this week.
If you were amazed by what DALL-E can do with just a little piece of text, you might want to check Meta’s AI system generating videos out of text or images. It’s called Make-A-Video. Simple as that 😎
In this week’s newsletter, you can read about:
What’s buzzin’ in marketing?
Is web3 more profitable than BTC or ETH?
Warner to sing a (web3) song with OpenSea
One of the biggest NFT sales in history
Coinbase sued for patent infringement
Feel welcome to make a coffee and indulge yourself with the read ☕️
🛒 What’s buzzin’ in marketing?
Nike extends the product lifecycle with B.I.L.L in a move towards a more circular economy. Thanks to the AI-powered robot, swoosh-branded shoe owners can clean and repair their Dunkies instead of buying a new pair.
The long-awaited dislike button is finally available for use on TikTok. No worries - similarly to Youtube or Reddit, other users will not see it if you express your disgust with a thumb-down button.
Walmart extends its retail media business by allowing users to buy ads on TikTok, Snapchat, and Roku directly through the proprietary demand-side platform Walmart Connect. At the same time, the retail giant dives into the metaverse by building Walmart Land on Roblox.
Alibaba brings luxury shopping to the metaverse. The Chinese e-commerce giant's luxury marketplace called Tmall Luxury Pavilion will host an AR fashion show and grant its shoppers access to special deals.
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Singapore is back in the game after it dropped COVID-19 restrictions in March. The town was hosting the Token2049 conference on September 28-29 with over 7k attendants.
Especially, Dan Morehead’s keynote speech was very uplifting and heart-warming. Pantera Capital’s CEO compared the crypto boom to the early 2000s when Google and Apple started to gain momentum and challenge Microsoft’s hegemony. In his opinion, projects based on technologies alternative to Ethereum and Bitcoin would perform even better while mentioning DeFi, Web3, NFT, and Metaverse as the most promising domains of the crypto industry.
Initially, Token2049 was a London-Hong Kong affair until it was canceled twice in Hong Kong due to the pandemic. Both cities compete against each other for the title of a global crypto and business hub. To such an extent that both cities are going to organize fintech-related events overlapping each other - Fintech Week in Singapore (2-4.11) and Fintech Festival in Hong Kong (31.10-5.11)
Due to the web3 event and upcoming F1 Grand Prix, the hotel prices went up to 10-year highs!
Warner Music Group announced a new partnership with OpenSea aimed to help their signed artists build and engage with web3 communities.
Apart from specialized support, the NFT marketplace will grant WMG artists early access to the newly rolled-out feature, which enables the launching of NFT collections or limited-edition projects on a dedicated and customizable drop page.
The first NFT collection is currently developed by Warner Records UK in collaboration with Jeremy Fall’s web3 startup Probably Nothing. All future owners of the so-called NFT Label Pass will be allowed to license songs from a members-only community music library, attend exclusive live events, and access Probably A Label’s music drops.
This is, however, not the first time a record label conglomerate marks its presence in the web3 world. In February 2022, the company launched a partnership with a blockchain card game developer Splinterlands. A few months earlier, Universal Music Group started building Kingship, a virtual music band in the metaverse.
It looks like the entertainment industry was really into the web3 world!
The first owner of the #2924 Punk was pseudonymous NFT collector called seedphrase on Twitter and DANNY on OpenSea, who purchased it in November 2020 for 150 ETH, valued at $71,403 at this time. The profit is huge, ~ $4,333,568.89 for one NFT. Imagine only that Danny’s collection consists of 11.1k various non-fungible tokens 🤯💰
While most of us save money for clay pots and candles to warm homes, some prefer to buy an NFT worth $4.5M. If you need to invest or gear yourself up with some luxuries, there is no better time to do so than during the bear market 📉
A blockchain-based software company Veritaseum believes that Coinbase infringed on its cryptocurrency payment transfer technology patent and is now seeking $350M in damages.
The patent, known as the “566 Patent”, refers to methods used by parties to “enforce value transfer agreements” and was used in multiple Coinbase products such as mobile wallets, Cloud, and Commerce APIs, among many others. Hence, the figure of $350M - the plaintiff argues that the US-based cryptocurrency exchange “gained substantial profits by virtue of its infringement”.
What spices things up is the fact that Veritaseum had warned Coinbase in July of potential patent infringement, and the defendant did not react. As requested by the plaintiff, the jury trial will take place in a Delaware-based court.
🔥 OTHER RELEVANT NEWS
Prices of GPUs in China, used for mining cryptocurrencies, dropped significantly to new lows after The Merge.
BlackRock launched a new “Blockchain and Tech” ETF.
Celsius CEO, Alex Mashinsky, steps down. The crypto lender filed for bankruptcy in July.
Logium joined the exclusive circle of blockchain projects certified by Certik.
Bitcoin reached a five-year record high in terms of "hodled” tokens.
Revolut has got approved by the FCA to run a crypto business in the UK.
Crypto.com received regulatory approval to operate in France.
Disney seeks a corporate lawyer for full product life cycle legal advice and support for global NFT products.
Madalia World has become the first metaverse recognized by a government.
Telefónica is now accepting cryptos like Bitcoin for the purchase of products.
🏖 FUN FACTS & MEME SECTION
💡Did you know that if you search “Pac-Man” in Google, you can play Pac-Man directly in the browser? Good trick if you want to entertain yourself while waiting for developers to fix some bugs. Try it out!
🥇 Meme of The Week: