Porsche criticized for ‘low effort’ NFTs, quits early
Automaker Porsche had to shorten a nonfungible token (NFT) coin of its famed white 911 model just two days after the public TSTIME began, saying the “holders have spoken”.
The January 23 launch was seen by some as a huge flop for Porsche, as only 2,040 of the 7,500 available NFTs had been sold at the time of writing.
Our holders have spoken. We are going to reduce our stock and discontinue the coin to continue creating the best experience for an exclusive community. More info in the coming hours.
— PORSCHΞ (@eth_porsche) January 24, 2023
The coin was widely criticized by the crypto community for being “little effort”, “tone-deaf”, and too expensive. The NFTs were priced at 0.911 Ether (ETH) ($1,417).
Very sad. No community. No communication. No value. Glad our community didn’t fall for it. Big brands should take this into account. This is a valuable lesson for them. Extracting value will not work.
— Staś May (@haymaker_studio) January 24, 2023
Secondary market sales have undermined the live TSTIME, with some selling for as little as 0.86 ETH.
After announcing it would stop deliveries, Porsche clarified that the minting would still be open until 11:00 UTC on January 25. The collection recorded a wave of FOMO buying that temporarily pushed the bottom price up.
Crazy sequence of events with @eth_porsche
– Tweet about stopping the supply and stopping coin
– FP swells by .3 ETH
– Everyone realizes that coin is still open
– Everyone peppers #NFTs & sell directly
– FP returns to new price
– Porsche for selling ~160 NFTs in <1 hour
– Smart traders pic.twitter.com/p1Kch1OrLH
— metaversatile.eth (@metaversatile_) January 24, 2023
Get Stuf’d: Oreo launches a Metaverse… and a very large cookie
Cookie company Oreo launched its own Metaverse, the OREOVERSE, an interactive digital world where cookie lovers can play cookie-themed games and enter a contest.
Introducing our newest Limited Edition OREO cookie: The Most OREO OREO This OREO cookie contains ‘Most Stuf’ cream with pieces of OREO wafer.
With a cookie this meta, it’s only right we dive into the Metaverse with our own OREOVERSE: https://t.co/v15kHRyxDu pic.twitter.com/yVfcFCDV7a
— OREO cookie (@Oreo) January 24, 2023
The OREOVERSE is on desktop, mobile, and in Meta’s Horizon Worlds, where users with a Meta Quest headset can enter and experience the Metaverse in virtual reality (VR).
Oreo enlisted the services of TV personality Martha Stewart along with her gardener and friend Ryan McCallister to endorse the Oreo-inspired digital world.
The sweepstakes grand prize gives users the chance to win $50,000 from a range of smaller prizes.
The Metaverse announcement was accompanied by the unveiling of its newest limited edition cookie, the “Most OREO OREO”, which has a “Most Stuf” creme center – filled with bits of Oreo.
Nike kicks off the NFT marketplace with Air Force 1s
In its first collection of NFTs on its “.SWOOSH Studio” NFT marketplace, Nike will launch an NFT collection influenced by its iconic Air Force 1 sneakers following a community vote.
The Polygon (MATIC)-based NFTs will go live on Jan. 25, according to a Jan. 23 tweet by Jasmine Gao, the senior product manager of Nike Virtual Studios.
.SWOOSH Studio, Nike’s home for virtual co-creation, launches this Wednesday 1/25
Last month, the .SWOOSH community voted for their favorite AF1 sneakers to influence the upcoming Our Force 1 collection.
Now get ready to build it with us. pic.twitter.com/to3VyBgbSJ
— Jasminelil.SWOOSH (@jgao) January 24, 2023
Nike announced its upcoming NFT marketplace on November 14 last year, which Ron Faris, general manager of Nike Virtual Studios, claimed would help “get the next million on board” in the “wonderful world of web3 and digital assets” .
It aims to be a community-driven platform for Web3 digital art, giving members the opportunity to co-create virtual creations through community challenges with the global fashion brand.
According to the Nov. 14 press release, members who win the challenge can also earn royalties on the virtual product they help create.
Nike also suggested that digital wearables would eventually be useful in games and other “immersive experiences.”
Twitch co-founder Fractal is bringing its games to Polygon
The gaming company Fractal will expand its F Studio product suite onto the Polygon blockchain, bringing 30 Polygon gaming partners along for the ride.
Excited to announce the launch with Fractal’s 30 Polygon partners. Watch the video reveal pic.twitter.com/VuIRThkof5
— Polygon Gaming (@PolygonGaming) January 24, 2023
Partners include games such as Phantom Galaxies, Life Beyond, League of Kingdoms, Blast Royale, and Sunflower Land.
Fractal is an NFT gaming marketplace founded by Twitch co-founder Justin Kan that provides a starting point for new projects and facilitating tournaments.
It also features a software development kit that allows developers to build in-game marketplaces where players can buy and sell in-game NFTs, rather than having to go through Fractal’s marketplace.
The platform originally started on the Solana (SOL) network, but according to a January 23 report from VentureBeat, Fractal is expanding to Polygon due to its speed, scalability, and ability to accelerate game development with the security of the Ethereum platform. network.
Polygon Gaming will make a strategic investment in Fractal for an undisclosed amount, according to the report, in an effort to deepen the partnership between the two companies.
More useful news:
An upcoming NFT racing game called PetaRush has sold out all available NFTs through both the whitelist and public sale. The game allows users to integrate some NFT collections from outside the game’s ecosystem by creating partnerships that allow them to use the IP address of other collections.
In a recent interview with TSTIME, the co-founder of the blockchain role-playing game Illuvium, Kieran Warwick, suggested that casual gamers are “critical” to the success of blockchain games that use NFTs. Yat Sui, chairman of Animoca Brands, echoed the sentiment, claiming that it only takes one good game to kick-start a blockchain gaming boom.