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Oxalus Insights

Weekly NFT Highlights: Positive aspects remain despite the FTX crash

NewsWeekly NFT Highlights Nov 14 2022

GM.

It has been a really difficult week due to FTX crash. There’s no denying the pain and loss experienced by those who were affected by this. Despite all this, we want to highlight a few positive aspects of the NFT market.

Key Takeaways:

  • NFT community’s reactions to the FTX crash
  • Azuki and Ambush collaborate to bring web3-inspired fashion
  • Lionel Messi Joins NFT Game Sorare as Investor and Brand Ambassador
  • The Bank of Korea tested NFT trading with CBDC
  • Metaplaces brings free websites for life to their NFT holders
  • Rolex may be entering Metaverse and NFT market
  • LG is looking for Web3 talent

1. How does the NFT community feel about the FTX crash?

The community still believes in Web3 and NFT. Here are thoughts on this issue from some influencers:

“Long term, the crypto industry has an opportunity to build a better system with DeFi and self-custodial wallets that don’t rely on trusting third parties.” – Brian Armstrong, Coinbase Co-founder & CEO

“I think the NFT community will handle a down market better than the fungible coin community. Unlike fungible world, there are all types of things going on in NFT world beyond the price of the tokens.” – Punk6529, NFT Influencers

People have lost life savings and had their life turned around in a matter of days. But don’t do anything you’ll regret. It will be ok. I’m not entirely sure how the market will act in the next few weeks or months. No one can ever predict things 100 percent.” – Loopify, Endless Clouds & Interleave

I fully believe in this space and where it’s going. Shoutout to the hundreds and hundreds of creators, founders and artists that jumped in to mobilize this week. Shout out to everyone behind the scenes who basically haven’t slept for days. This matters. We came together for each other. Let’s keep that collaborative spirit alive.” – Betty, Deadfellaz

2. Azuki and Ambush collaborate to bring web3-inspired fashion

After the Golden Skateboard auction, Azuki has announced their first (relatively) accessible PBT-integrated product. They have partnered with fashion brand AMBUSH to offer a PBT-enabled hoodie for 0.55ETH and dragon pendants for 0.35ETH. It is inspired by traditional Eastern craftsmanship, minimalistic design, and web3 culture.

3. Lionel Messi Joins NFT Game Sorare as Investor and Brand Ambassador

One of the world’s biggest soccer stars, Lionel Messi, is going to become an investor and brand ambassador for Sorare, an NFT trading card game. With Messi’s presence, Sorare hopes to set new standards in how it interacts with users.

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4. The Bank of Korea tested NFT trading with CBDC

During a 10-month experiment, the Bank of Korea has developed and tested a program that links various central bank digital currencies (CBDC) from different countries to facilitate cross-border remittances. The bank used its CBDC to purchase NFTs during the project. South Korea also plans to offer blockchain-powered digital IDs to its citizens by 2024.

5. Metaplaces brings free websites for life to their NFT holders

Metaplaces and Sitecreator.io have partnered to provide users with a free subscription to Metaplaces Office. Metaplace Offices NFT owners can invite clients to their breathtaking offices in 3D via a public or private URL. It allows coworkers to collaborate in their workspaces and organize productive meetings. Every NFT owner can customize their room in the metaverse by choosing furniture, NFT portraits, and more. Additionally, the offices can be integrated with Slack, Calendly, and other CRM.

Metaplaces is founded by a Techstars alumni CTO and an architect of Audi, Mercedes and Bentley. Rather than just JPEGs, Metaplaces’ NFTs offer collectors a virtual experience through digital properties.

6. Rolex may be entering Metaverse and NFT market

The brand applied for trademarks for NFT-related products in late October 2022. It looks like the luxury watch powerhouse has begun exploring the cryptocurrency and NFT space. According to the filing, the brand is also seeking to create a marketplace for buyers and sellers to trade similar assets.

7. LG is looking for Web3 talent

Web3 and NFT-related projects are being launched by more mainstream companies. Although the market has been somewhat challenging recently, LG is still advertising engineering job openings to enter the Web3 market. Clearly, it shows the wealth of Web3 opportunities for professionals.


Stay hopeful and keep moving forward!

At the end of the day, the blockchain just keeps going. The NFT space needs to be determined and confident to keep growing and flourishing. The creative community continues to release new collections, engage collectors and fans, and explore the potential of blockchain. Keeping hope during challenging times and making plans are the best ways forward.

Good luck to all of us!


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