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NFT news roundup: A continuing upsurge as NFTs are deployed in all sorts of industries

Here is a roundup of top events taking place in the NFT space right now. 

marvel comics nft

At this point, anyone can see that there is no stopping the NFT freight train. Since the first quarter of 2021, NFT sales have been above the one billion dollar mark, with Q3 seeing an upsurge more than eightfold as NFT sales hit $10.7 billion.

Meanwhile, cryptocurrencies are gradually reclaiming their previous all-time highs led by bitcoin’s retracement of its $60K price mark in May. Overall, October has been a good month for the decentralized finance world and NFTs in particular as new emerging NFT based projects take root, further adding fuel to the raging NFT furnace. Most 

Here is a roundup of top events taking place in the NFT space right now. 

Trace Network Labs Launches NFTs with a Top Fashion Brand

A merger between NFTs and the fashion industry makes a perfect fit given the many benefits that NFTs bring to fashion brands looking to enable better management of inventory, thwart counterfeiters, and have better control of supply chains. 

In a move to onboard fashion brands into the NFT movement, Trace Network (a decentralized blockchain protocol featuring a marketplace dedicated to minting, buying, and selling of NFTs in the luxury and fashion space) announced the launch of an NFT collection with 883 Police.

883 Police is a storied Italian-based fashion house known for iconic denim innovations as well as pioneering multiple denim washing techniques, not to mention the many denim finishes and textures that are now a cultural statement in the fashion business. 

883 Police NFTs will feature a collection of unique limited edition digital wearables that will also come with equivalent garments in the real world later in the future. The NFTs are designed to be worn by avatars in the metaverse thus enabling owners of the NFTs to bring elements of their luxury lifestyle into the metaverse.

The term metaverse has been making rounds, especially in the gaming world as the next evolutionary step of the internet where a convergence of the physical and the digital is realized thus enabling users to interact with a virtual environment as well as with one another just as it is in the real world.

As the digital platforms all over the world move closer to establishing a metaverse, Trace Network’s platform is helping brands such as 883 Police issue NFT based fashion and luxury items with interoperable cross-chain capabilities.

While speaking in a press release of the launch, Lokesh Rao who is the co-founder and CEO of Trace Network Labs said, “what I find most interesting in fashion is that it reflects your moment: 883 Police has a rich history and roadmap in creating those perfect moments by making a differentiating fashion statement.”

Peter Hurley Launches an NFT project

On the Ethereum blockchain, world-famous photographer and the headshot king Peter Hurley launched his debut collection of 10,000 photography-inspired NFTs called Shabangrs.

Formerly a fashion model, Hurley stepped behind the camera a decade ago and has since become an expert on the stylized form of commercial portraits. The storied photographer owns a satellite studio in New York and has designed a wide range of photo products.

Hurley’s Shabangrs NFT collection was launched in honor of photographers and creatives all over the world as well as a way of giving back to society as a percentage of the sales were directed to charity. 

Apart from owning the cool-looking NFTs, Hurley’s Shabangr NFT also gives owners the chance of winning additional prizes such as a photoshoot session with Hurley. The NFTs also give owners citizenship in a metaverse-based virtual city called Shabangrsville, where photography enthusiasts can interact and network with one another. 

Stan Lee Signed Portraits are Now NFTs

The X factor when it comes to NFTs revolves around the story behind the project. An NFT project backed by a good story can last for years while remaining popular.

For this reason, it is little wonder that Rob Prior (an internationally renowned pop artist, painter, and motion picture director) is moving to release a collection of NFTs celebrating the iconic comic book writer Stan Lee. 

In an auction established through a partnership with Mogul Production (a DeFi-ready film financing firm) Prior will release “The Legacy Collection: Portraits of Stan Lee” which entails 10 striking works of art produced in collaboration with Stan Lee himself. The auction is set for October 27th and will continue until the end of the month.

Prior is not new to NFTs. Not only has his live painting sessions managed to draw an excess of 300,000 people every year, but he is also best known as the originator of an NFT project which sold for $182,050. Prior also plans to release an upcoming NFT project celebrating boxing titan Saul Alvarez. 

NFTs go Wild in Play to Earn Games

NFTs are also making headlines as a medium facilitating the play-to-earn model of blockchain gaming. Yield Guild Games (a play-to-earn gaming guide) recently moved to acquire a Theran Arena which is a mobile-friendly plat-to-earn game adding it to its growing catalog.

Thetan Arena is a free play-to-earn game based on blockchain and designed with a competitive edge where players team up to battle and win in a show of skill. Players can win NFTs and sell those NFTs in exchange for Thetan Arena’s native cryptocurrency. 

Other popular NFT based play-to-earn blockchain gaming platforms such as Axie Infinity continue to see an increase in activity, with data showing an ever-increasing trading activity of NFTs in such games. 

Conclusion

NFTs are fast gaining ground in the blockchain industry, and while still in their infancy, they show a lot of promise. Their popularity is mainly due to them being backed by a good story as well as increasing activity among gamers who prize these NFTs above all else.

NFT’s impact on gaming goes beyond that of the average collectible. The decentralization that NFTs bring to the market together with their different use cases makes them a great asset for gamers who find regular collectibles too limiting in scope.

However the fun doesn’t just stop at games, NFTs are now also making waves in industries such as the fashion industry as a move towards the metaverse continues.

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