Azuki Rebuilds After His Elementals Mint Mishap
Azuki, the anime-inspired NFT company, this week released a collection of 20,000 NFT figures nearly identical to those from the original Azuki line. Azuki took steps to correct his mistakes after the reserve price for this project plummeted.
Candy Digital, a digital collectibles company, merged with Palm NFT Studio. This alliance brings together industry ties to expand licensed NFT projects in sports, entertainment and the arts.
This Week’s Alpha
Elemental L The latest addition to the Azuki universe was released this week by blue-chip NFT Collection Azuki. Elementals is the name of the 20,000 copy NFT set that was announced with great fanfare. The first 10,000 NFTs were dropped at an event in Las Vegas and the rest were sold through a Dutch auction using special coin mechanisms. Azuki holders would have a 10-minute pre-sale window, followed by BEANZ holders, who would have a similar 10-minute window. The project sold out in 15 minutes and no public sale was required. The project coin made $38 million. However, backlash from holders was swift, setting off a downward spiral that quickly lowered the project’s price floor. This led to the mass sale of other Azuki collections:
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Minting mishap Azuki owners complained about technical problems and could not mint NFTs despite the queues. Some azuki holders complained that azuki holders had a head start and could narrow the NFT pool. Site TBA, co-founder of the project, said Azuki users could mint 7,600 coins, while BEANZ holders could mint 2,400 coins.
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Identical artwork Owners also complained that the Elementals collection was almost indistinguishable from the original Azuki, fueling rumors of dilution from increased supply.
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Future Plans Azuki has apologized for his mistake and outlined how he will revamp the Elementals project. The coin’s findings showed that in a bear market, NFT projects struggle to innovate and their failures have far-reaching consequences.
Sweet as Candy: Candy Digital, the digital collectibles company backed by Galaxy Digital CEO Michael Novogratz and entrepreneur Gary Vaynerchuk, has merged Web3 production company Palm NFT Studio to create a powerful Create NFT creative studio known as Candy Digital. Palm NFT Studio previously had funding from Microsoft’s venture capital fund M12 and Warner Bros.
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Creative License: Both companies will create digital experiences tailored for sports franchises such as Major League Baseball, NASCAR and WWE. and entertainment giants like Netflix and Warner Bros. Discovery.
Blockchain Beats Warner Music Group, a global entertainment company, has partnered with Polygon Labs to launch a program designed to help musicians transition to Web3. A press release states that the program is aimed at “companies or entrepreneurs working at the intersection of music, technology and Web3”.
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Innovation in the industry: According to the press release, candidates should “focus on nurturing the artist-fan community, establishing decentralized systems for music production and distribution, innovating in ticketing, exploring digital/physical collectibles and music-related topics” focus fan shop.”
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Reward yourself with real rewards The selected projects will receive funding and mentoring from WMG and Polygon Labs. You will also have the opportunity to network with experts in the music and blockchain – Industry Network
The Rise of Projects
Themes and Variations
Who: Vera Molnar, via Sotheby’s
What: Vera Molnar is the first generative artist. Many consider her the first digital artist. Sotheby’s is now releasing Vera’s first and only on-chain project. Her work, which began in the 1960s, includes computer art integrate is often cited as a major influence on modern generative artists such as Dmitri Chroniak and Tyler Hobbs. The 500-copy set, based on three letters that have greatly influenced digital art, is a reflection of her career and how it has changed since the introduction of NFTs.
How: The collection launches Sotheby’s Gen Art Program. This program celebrates generative art and highlights two or three artists each year. For the first time in the art auction house’s 300-year history, the complete chain sale will be carried out in the Dutch auction format on July 26th. Bids start at 20 ETH and then gradually decrease until the item can be purchased with a single bid.
More News
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Crocodile Sniping Fashion brand Lacoste has expanded its UNDW3 NFT ecosystem with new rewards for holders.
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Proof of Work: Coordinape, a digital community platform, has launched a Soulbound NFT that tracks an Owner’s work history in digital native organizations.
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Goodbye, MetaBirkins: Mason Rothschild has been permanently barred from using the MetaBirkin trademark by a federal judge, ending a long-running court case.
Non-Fungible Toolkit
The AI Revolution in Web3 Music Creation
Artificial Intelligence has become a buzzword in many industries. Others were skeptical or hostile to its use.
AI has the potential to speed up the process of creating, producing and releasing music for fans. Artists use AI-based tools like Warpsound and Riffusion to create new songs, which can then be distributed via Web3.
This overview is an excellent starting point if you are interested in music and want to learn how AI and blockchain technology intersect in the creation of this music.
