This week, Alibaba, the Chinese tech giant, announced it would be releasing a metaverse launchpad for brands to offer metaverse experiences built on the Avalanche blockchain. This launchpad is called the Cloudverse and will use technology from both Alibaba’s Cloud division and the Avalanche blockchain for computing and storage. The Cloudverse aims to make it easier to build turnkey systems for brands to become involved in Web3 and improve their customer experience.
Sports Illustrated has also entered the realm of Web3 by launching an NFT ticketing platform called SI Tickets. It is built on the Polygon network and offers event owners, organizers, and promoters opportunities to engage with fans and build their following. The use of NFTs as tickets to events is becoming widespread and could be a mass-market way to introduce users to Web3.
Sotheby’s, the art auction house, is also entering the secondary market with the launch of its peer-to-peer secondary marketplace for digital art. Its Sotheby’s Metaverse platform is behind this project, and it boasts embedded smart contracts that offer direct transactions between collectors and creator royalties. The sale of NFTs has created a larger debate about royalties within the NFT community, and Sotheby’s commitment to honoring artist royalties shows its artist-first ethos.
Big Inc, the sequel to Truth Labs’s NFT project Goblintown, has been announced. It is a 15,000-edition NFT collection that expands the goblin lore further and will prioritize collectors based on their “rekt activity” or poor trades in the NFT space. Collectors can apply to mint their NFT, and Truth Labs will analyze wallet data to determine the quality of a trader’s transactions. This will place traders on the “Down Bad Board,” or leaderboard of the worst traders in the space, and the top 1,000 worst traders in the NFT space will have 24 hours to mint their NFT acceptance letter for free.
Web3 experiential company Tokenproof has announced a three-year agreement with Adidas to bring token-gated drops and experiences to the Confirmed app for Adidas.
In other news, the world’s richest person, Bernard Arnault, has been quietly collecting NFTs, according to Ledger’s Ian Rogers. CoinMarketCap and Hello Labs are producing a reality competition show in the style of “Shark Tank” for Web3 companies to pitch their ideas in exchange for funding.
Finally, before diving into investing in meme coins, there are three things crypto traders should consider, including understanding meme coins’ liquidity and knowing the fundamentals behind the coin.
According to https://www.coindesk.com/web3/2023/05/05/alibaba-says-open-sesame-to-web3/
The material in this article is written on the basis of another article.