#57 | PayPal Revolutionising NFT Accessibility With MetaMask Integration

Estimated Read Time: 6 minutes

Hey friends,

What a delight to have you back with us! Today we're bringing you another strong line-up of industry leaders furthering the NFT and Web3 space, with stories from Aston Martin, Warner Brothers and PayPal. Let's just jump into it!

Aston Martin Takes First Step Into NFTs

The English luxury sports car manufacturer Aston Martin has solidified itself as a household name since being founded over a century ago. Now, on the cusp of our new Web3 era, we see Aston Martin's first step into NFTs through the Vantage series. In partnership with developer/publisher The Tiny Digital Factory, Aston Martin recently announced its first NFT collection of 3,000 virtual cars on the Polygon blockchain, based on three of Aston’s Vantage series sports cars. Each NFT is made to perfectly match its real-world counterpart, which can then be taken into the Infinite Drive platform — a mobile-first NFT racing platform and car enthusiast metaverse for owning, collecting and even racing your digital car collection, which is currently in a closed Alpha phase of development.

This news is on the back of our recent coverage about Porsche & BMWs NFT plans, and it's not surprising with pressure from other car brands growing with Ford's NFTs, Chevrolet's Corvette NFTs, Lamborghini's multiple projects, and Hyundai's NFT trademarks to name a few. As we continue to see more and more legacy brands dip their toes into Web3, we are about to see a fascinating transition for the driving factor for Web3 developments. Instead of brands taking the initiative to leverage this incredible new technology, brands like Aston Martin may actually be caught on the back foot where they are forced to keep up with the inevitable transition of the internet to Web3, so they don't get left in the dust of the aforementioned competitors.

Warner Brothers Launches NFT Wearables

It was only in the last edition that we covered Warner Brothers and their new NFT music platform, but they have re-entered the news cycle through their new partnership and investment in NFT digital fashion platform DressX. Specifically, this new collaboration via Warner Music Group provides Web3 enthusiasts and music lovers with virtual concert merchandise they call “verch”.

This verch will be available for you to wear in 3D and augmented reality (like in the DressX picture above) across social media platforms including Facebook, Instagram and Snapchat. It's not only for your IRL identity though; as your digital avatar will soon be able to support your favorite artists with DressX already having partnerships in metaverses such as Meta, Roblox, Decentraland, and Sandbox to name a few. 

This concept of virtual merchandise is an excellent example of the opportunities that NFT technology is creating that positively benefit all parties involved. Not only does it open up a new revenue stream for artists, but it also creates a new mode of self-expression for their fans; for example, in 2020, Travis Scott performed a virtual concert on Fortnite that attracted 45 million concurrent viewers. When thinking about the eventual progression of the internet, these virtual events will become commonplace purely due to their improved reach and accessibility. With this picture in mind, the idea of fans showing support through digital clothes will also be commonplace, so what an exciting time to be reporting on the first instances of this eventual future.

Metamask Partners With PayPal

Here at Morning NFTea we truly believe that through the power of NFTs, Web3 will change the world with ripple effects in every/any industry, just as the internet once did. Hence why one of the driving factors for our newsletters is reporting on the progression of this space as we inch ever closer to that mainstream adoption. But in saying this, it doesn't matter how many brands or industries move into Web3 if the accessibility to NFTs doesn't improve... Now insert Metamask’s new partnership with PayPal. 

PayPal is a ridiculous market leader with an approximate 42% global share in online payment processing, so pairing this industry giant with one of the world's most used Web3 wallets Metamask is sure to make waves in the space. In the newest MetaMask update, US-based users will be able to buy Ethereum using PayPal straight within the MetaMask app, marking the first integration of PayPal into a Web3 wallet.

As a user of both PayPal and Metamask, it's hard to not personally get excited about this update, since if we want to engage with Web3 activities we are forced to use external exchanges to purchase Eth before transferring it to our MetaMask wallet. This process is about to become much easier for us and the rest of the world; it's partnerships like these that are truly taking us closer to mainstream Web3 and NFT adoption.

It's pretty cool having these global brands leverage NFTs to benefit all parties involved! We hope you enjoyed this edition and as always wish you the best next couple of days while we curate the next round-up. Take care!        

What's the NFTea?

Trump, Trump, Trump. It shocked the NFT world when the 45,000 large collection was announced, then it shocked them even more when it sold out. 24 hours later, the floor price was at 0.8 ETH and nobody could believe it.

That's even more incredible when you look through the T&Cs and realize... it was only licensed by Donald Trump to a sweepstakes company, and not actually spearheaded by Donald himself!

TPan digs into it deeper in this thread:

Whereas this thread breaks down who on earth is buying these ridiculous cards.

The floor price has come back down since, but a sudden 10x surge for a rather meme-able collection is news nonetheless. Perhaps it's helped more people enter the space, which is always a good thing.

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DISCLAIMER: 

None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.