NFT News Roundup – 06/08/22

Reading Time: 3 minutes

It’s Saturday, which means it’s time to grab our rod, tackle and bait box and head down to the NFT river, in the hopes of catching a salmon amongst all the tripe. Go fish!

Dehub Announces $1 Million NFT Raffle

Web 3.0 company Dehub made a kind of history this week by announcing the world’s first $1 million NFT raffle. Dehub, which calls itself “Web3’s premier lifestyle and entertainment hub”, says it has built a provably fair on-chain NFT raffle protocol utilizing Chainlink’s VRF (Verifiable Random Function) in order to offer the record breaking raffle, which even see losing ‘NFTickets’ (😒) still provide utility and access to Dehub’s dApps. Every loser wins, as Abba sang.

Entry to the $1 million NFT raffle only costs $11, payable in BUSD, and participants stand a chance of winning a million dollars in stablecoins or, randomly, a house valued at $1 million in the UK. Dehub calls this the world’s “inaugural house raffle based on blockchain technology”, which is a combination of words we never expected to put together.

Check out Dehub’s website for more information, and to get a look at the house and see if you’re as underwhelmed as we were.

Pearson Plans NFT Textbooks

Academic textbook giant Pearson this week announced that it plans to sell textbooks as NFTs as it battles with an increase in second hand book sales. With everyone forced to tighten their belts at the moment, shelling out £40+ on a new textbook isn’t exactly an enticing option, hence why many people are turning to second hand ones.

The move will allow Pearson to take a cut every time a book is sold on the open market, with Pearson’s CEO Andy Bird telling Bloomberg that currently each Pearson book is resold “up to seven times”, with Pearson only benefitting from the first sale.

Bird added that “technology like blockchain and NFTs allows us to participate in every sale of that particular item as it goes through its life”, which is all well and good, but how many people are going to prefer an NFT book to one they can make notes in nd use as a doorstop when they fail their course?

Gucci Goes APE With New Payment Option

Gucci this week announced that it will accept APE, the cryptocurrency of the Bored Ape Yacht Club universe, for products. The coin, which can be used through Bitpay, expands the fashion house’s acceptance of cryptocurrencies, three months after it announced a trial that has allowed a select number of stores to accept a number of cryptocurrencies, including Bitcoin and Shiba Inu, in the U.S. pursuant to a larger rollout later in the year.

Gucci has already purchased some land in The Sandbox metaverse, showing that it is taking the world of Web 3.0 very seriously, probably because the only rich people in a few years time will be crypto kiddies.

Muse to Release First Chartable NFT Album

Kings of Leon may have bragging rights over being the first band to create an NFT album, but rock aficionados Muse have gone one better and created the first NFT album that will be allowed in the charts. This achievement has been brought about thanks to a collaboration between NFT marketplace Serenade and Warner Records UK to create a new format – the ‘digital pressing’ (no, that’s not sticking your finger in your belly button).

The first record to be created in this new format will be Muse’s Will of the People, which is set for release on August 26, and each pressing will count toward one physical album sale on the charts, marking a watershed for the British music scene.

I’m still not sure how you listen to an NFT, but I bet it’s more hassle than Spotify.