It’s Saturday, which means it’s time to don our diving gear and enter the NFT swamp to dredge up the three biggest stories of the week. What’s a shopping trolley doing down here?
Cryptopunk Holders Snap Up Tiffany Pendants
Cryptopunk holders snapped up the chance to have their NFTs immortalised in pendant form this week as Tiffany & Co. announced that all 250 NFTiffs had sold out. The NFTs, which cost 30 ETH, will allow the holders to take delivery of a custom made pendant reflecting their Cryptopunk, as well as a new NFT depicting the physical depiction of the original Cryptopunk (confused yet?).
It was clear however that some had very different designs on their NFTiffs, with a handful appearing on Opensea immediately after the sale began, although they may have been disappointed with the valuations – the floor price hovered just under 30 ETH mark initially and then fell towards the 20 ETH mark as the August 12 deadline drew closer.
Aah, those poor scalpers.
Celeb NFT Holdings Under the Microscope
A consumer group has called for celebrities such as Snoop Dogg and Paris Hilton to disclose connections they have to NFT projects in a bid for transparency over covert backing. Celebrity backing in the crypto space is of course nothing new (DJ Khaled and Floyd Mayweather anyone?), and the rise in celebrity adoption of NFTs has brought the issue back into the spotlight.
So concerned is one group of people that they have formed Truth in Advertising (TINA) and written to 17 high-profile celebrities this week claiming they have been promoting NFTs without appropriate disclosures. Targets include Gwyneth Paltrow, Eva Longoria, Floyd Mayweather (again), Tom Brady, DJ Khaled (again), Snoop Dogg and Paris Hilton.
TINA is calling for all celebrities to disclose any connections they have to NFT projects they promote, or else it will…erm…write to them again? In italics?
#WeAreUkraine NFT Collection Launches
A new NFT collection to raise awareness and funding for the women and children of Ukraine launched on Opensea this week, featuring “the most famous monuments in a number of cities across the country.”
#WeAreUkraine leverages the potential of NFTs to raise awareness of the difficulties faced by the women and children in the war torn country, with the project saying that the war has left the country facing “urgent humanitarian needs and significant population displacement within and outside the country”.
The first two pieces, named #WeAreUkraine1 and #WeAreUkraine2, feature landmarks in Lviv and Vinnytsia and are now listed on the site. Proceeds will go to Save the Children and Women for Women international, who will see the funds go to where they are needed most.