Web3 Live 🔴

Chinese 'Instagram' goes into virtual fashion with NFT clothing Chinese social media platform Xiaohongshu is testing niche services for fashion bloggers who want to showcase their virtual clothing. According to Forkast, the idea is this: you can send the designer a unique NFT virtual dress code, and then provide a photo of yourself, which the designer uses to show how you “wear” the dress. At the same time, you need to pose as if you are actually wearing this dress, and the photo the photo needs to be high definition. On the platform, you can find virtual shoes, earrings, bags, and even manicures. Prices for such virtual costumes on Xiaohongshu can start from 20 yuan (about $3) for a headpiece to 5,000 yuan (about $745) for a sci-fi dress.

🚀 Paris 2024 Olympics to use NFT tickets Tickets for the 2024 Olympic Games in Paris can be sold in NFT format. The French government believes that such technology is safer than traditional tickets. Official Michel Cadot wrote about this in his report to the Prime Minister. The recommendation came after a ticket fraud that occurred during the UEFA Champions League in Paris. The decision is under consideration, but if approved, Olympic Games participants will be able to receive their digital tickets via SMS and QR codes a few days before the start of the event. Also in the report, Cado wrote the following: "This technology should be applied to other major international sporting events of great importance."

⚡️ Meta Announces Upcoming Digital Payments and New NFT Features Meta is announcing upcoming digital payment options, expanding NFT features to a wider range of users, and releasing new guidance on how NFTs work to help people get into the market. The company announced it is working on a new ‘wallet for the metaverse’. With it, Mark Zuckerberg is serious about developing Meta in the future in such a way that users can own digital items outside of a single application or space. Talking about news in the field of NFT, the NFT features in the Meta apps are set to roll out to more users soon, and the company will soon start testing NFT in Instagram Stories using SparkAR. In addition, Meta has released a guide to NFTs for beginners, which explains in detail what NFTs are, how to create them, buy them, and what the risks are.

🚀 Meta Announces the Opening of a New Avatar Fashion Store Offering a Range of Designer Collections The Meta avatars will now be wearing designer clothes. The company is opening a new Avatar Fashion Store, where you can dress up your avatar in clothes from Balenciaga, Prada, and Thom Browne. The store will be accessible via Facebook, Instagram, and Messenger. Fashion brand collections are used to draw the attention of various NFT artists and other brands to the idea of creating their own virtual items. The company plans to allow digital image creators to launch their own avatar fashion items. In the store, these items will be available for sale, presenting new monetization opportunities for both fashion brands and individual artists. Meta is additionally working on its new photorealistic avatars and developing new ways to create more realistic avatars for the VR space. More realistic versions of the avatar could be used, say, for professional meetings in digital worlds.

⚡️ Ethereum co-founder Vitalik Buterin introduced a new type of token The new kind is called soulbound tokens (SBT), or "soulbound". The essence of the new NFTs is that they are non-transferable, and each individual can receive SBT based on their work and education history. Vitalik borrowed the idea of new tokens from his favorite game World of Warcraft, where for killing very strong opponents they give out unique personal items that cannot be transferred to other players or sold at auction, they can only be used in the game. Soulbound tokens (SBT) will allow you to build a kind of ranking system, with which you can view the reputation and achievements of each person. According to Vitalik, now Web3 “is missing a soul”, and new tokens will strengthen the social identity of people. "Soulbound-tokens" may be presented at the end of this year. Buterin also noted that SBT can change the Web3 industry.

🚀 Now you can book a hotel using NFT technology The owners of Casa de Campo Resort & Villas have found a new way to use the NFT for travel — the ability to book a room using tokens. Such tokens were called Room Night (RNT). The hotel works in partnership with Pinktada, reservations specialists. Pinktada users can buy RNT for hotel reservations in the Caribbean, Mexico, San Francisco and Hawaii using the ETH cryptocurrency. The creators of the technology believe that it will help people more flexibly book and resell room reservations to others while traveling. For example, if the vacation is unexpectedly canceled due to work, and the room has already been paid. To use RNT and buy or sell hotel rooms in the form of tokens, you need to be registered on the Pinktada website.

⚡️ OpenSea Launches Seaport marketplace protocol allowing NFT bartering The world's most popular NFT marketplace, OpenSea, decided to launch Seaport — Web3 marketplace protocol for “safely and efficiently buying and selling NFTs.” OpenSea presented it on May 20. Seaport takes a different approach to the standard NFT trading model, facilitating the transaction between the seller and the buyer. OpenSea does not control or manage the Seaport protocol. All developers, content creators, and collectors will be able to use the new decentralized protocol. Many users have not yet fully understood the essence of the new protocol, but it looks like it will allow NFT bartering.

🚀 Snoop Dogg and Gary Vee get ownership of basketball teams by buying NFTs The BIG3 Basketball League, founded by Ice Cube and Jeff Kwatinetz, recently released NFT sets that provide fans a chance to purchase an ownership stake in the league’s teams. Individual teams were owned by Snoop Dogg and Gary Vee. A total of 1,000 NFTs were issued, 975 of which were named gold. The price of each gold NFT was $5,000. The remaining 25 "Fire" NFTs were worth $25,000 each. Of the 25 owners of Fire NFTs, the team CEO was to be selected. However, Snoop Dogg and Gary Vee decided to buy all 25 of the team's Fire NFTs to secure their position. Fire NFT owners will have special benefits, such as being able to call up and discuss ideas and strategies with their team, judges, and league founders. This is quite an innovative initiative. For the first time, fans have been able to own a share of their favorite team through the purchase of the NFT.

⚡️ Spotify experiments with NFT galleries on artist profiles Spotify is adding the ability for artists to promote NFTs on their profiles. The test is currently running for a limited number of users. The NFT gallery was placed under the artist title and song list in the app. Clicking on an NFT reveals the entire collection, where you can see a brief description of each NFT and the option to go to the NFT page on OpenSea and purchase it. Also, according to Music Ally, some users of the platform have already received a survey from Spotify, based on which new NFT features will not be limited to galleries. Users were asked how much they would be willing to pay for an NFT if it supported their favorite author. In another question, they were asked how they would like to use these NFTs, with the answer options being "Sell and trade", "Showcase on my Spotify profile", "Participate in challenges with other fans", and more.

⚡️ Spotify experiments with NFT galleries on artist profiles Spotify is adding the ability for artists to promote NFTs on their profiles. The test is currently running for a limited number of users. The NFT gallery was placed under the artist title and song list in the app. Clicking on an NFT reveals the entire collection, where you can see a brief description of each NFT and the option to go to the NFT page on OpenSea and purchase it. Also, according to Music Ally, some users of the platform have already received a survey from Spotify, based on which new NFT features will not be limited to galleries. Users were asked how much they would be willing to pay for an NFT if it supported their favorite author. In another question, they were asked how they would like to use these NFTs, with the answer options being "Sell and trade", "Showcase on my Spotify profile", "Participate in challenges with other fans", and more.