Fresh Web3 Shenanigans

A week of what we basically live for—on-chain music and metaverse incentives, and royalty payments.

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In today's edition:

  • 🎵 LGND, Warner Music and Polygon to launch Web3 music platform

  • 🏘️ Decentraland LAND owners can now rent out their metaverse plots

  • 💰 OpenSea issued more than $1B worth of royalties this year

  • 😎 Steve Aoki and 3LAU create CryptoPunks-inspired Web3 music group

What's Happening Header

  • Collapsed FTX sought $100M sponsorship deal with Taylor Swift (Decrypt)

  • Ledger launched Stax, a new hardware wallet for NFTs (NFT Lately)

  • Coinbase pauses short Bored Ape films (NFT Plazas)

  • Coming soon: Opera Crypto Browser to enable NFT minting in real-time (NFT Lately)

  • ApeCoin up 7% as holders stake $32M in Ethereum Bored Ape token (Decrypt)

  • Japan recommends against algorithmic backing in stablecoins (Cointelegraph)

  • NFTs steal the show at Art Basel Miami 2022 (NFT Plazas)

  • Kazakhstan approves Bitcoin mining bill (Watcher.Guru)

  • NFT company Wanderers raises $2M from Animoca Brands (NFT Lately)

  • The UK payment systems regulator firms up its approach to regulate crypto (Binance)

  • Institutional investors still eye-up crypto despite FTX crash (Cointelegraph)

  • Here's where 90% of Binance's revenue is coming from (Watcher.Guru)

Some other stuff we are digging this week: 

  • Former IRS agents at Binance seek to keep crypto crime-free (Decrypt)

  • Bitcoin: Is the tight crypto correlation a boon or bane (Watcher.Guru)

  • What is NFT staking? A comprehensive guide (NFT Lately)

  • Keeping up with the most popular NFTs in 2022 (NFT Plazas)

  • Why did Logan Paul get into NFTs? The main reasons (NFT Lately)

Trending collections:

LGND, Warner Music and Polygon to Launch Web3 Music Platform 

E-Commerce and interactive platform builder LGND is joining forces with Polygon and Warner Music Group to create a new Web3 music platform dubbed LGND Music. Here's what we know:

  • The platform will include music-related collectibles for users to play digital collectibles on the go.

  • Creators can interact with fans through unique content and curated experiences.

  • Thanks to its Polygon partnership, it will offer low gas fees and fast transactions.

  • We look forward to getting our groove on when the platform launches in January 2023.

Decentraland Launches Onboard Rental Contract Incentive

Want to join Decentraland but need more funds for an entire plot of LAND? Fear not. You can now rent from LAND owners to explore the metaverse without breaking your bank balance. How dope is that? 

Here's what we know: 

  • Owners can safely and securely lease their digital property within the Decentraland metaverse.

  • The lease agreement provides a low-cost way for new builders to join the platform.

  • In addition, holders can get the most out of property investment, similar to the real world.

  • This new tool expands Decentraland's use cases of property more than ever. 

  • What an attractive new incentive. We look forward to seeing how many people acquire LAND once having a sneak peek.

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OpenSea Creators Receive Royalties Worth $1B+ 

As you are most likely aware, this year has seen many debates regarding Web3 curators' royalties. 

Nevertheless, after a lot of BS, the VP of product for OpenSea, Shiva Rajaraman, attempts to end this year on a high, announcing that the marketplace has given NFT curators more than $1B in royalties in 2022 alone.

Here's what we know: 

  • Data shows that OpenSea has given out more than $1B in royalties since January 1 and November 23, 2022.

  • However, 80% of the royalties go toward top-10 collections. What about smaller collections?

  • OpenSea recently scraped royalty payments for a short time following continuous arguments regarding unfair shares.

  • However, after much backlash, OpenSea changed its mind. NFT curators can now add royalties to their collections.

  • Regardless, some OpenSea curators are still disappointed.

  • When considering how much is at stake, it comes as little to no surprise.

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Steve Aoki and 3LAU Create CryptoPunks Music Group

Steve Aoki and 3LAU are joining forces to create PUNX, a Web3 CryptoPunks-inspired music group. 

Here's what we know: 

  • This NFT duo uses inspiration from CryptoPunks NFTs for their music project PUNX.

  • PUNX is a unique, innovative audio-visual metaverse music group that will highlight Aoki's and 3LAU's favorite records and focus on community incentives.

  • Only scarce details are yet to be revealed.

  • We look forward to seeing what crazy ideas they've cooked up together.

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Today's edition was written by Leah Alger and Ty Smith.