Celebrities Receive Warning For Shilling NFTs??

Hey friends,

Welcome back to Morning NFTea! Today's stories range from Dynamic sports cards to one of the most expensive Ape sales, so let's get into it!

What Are Dynamic Sports Card NFTs?

We have seen some insane trading card NFT sales such as Logan Paul's $5 million listing of his fractionated Pokemon Illustrator card, but when it comes to sports cards, the upcoming NFT platform @OWNIC is about to switch things up with an announcement of their first ever dynamic NFT drop. One of the biggest factors in the worth of a Sports card is the player that features on the front of it, and the performance statistics; through dynamic NFT technology (dNFT) OWNIC would like new digital sports cards to have their statistics real-time update with the athlete's career achievements triggered by real-world milestones. To quickly backtrack, dynamic NFTs in simple terms is an NFT where their metadata can change based on varying conditions, in this case, OWNIC is linking the NFT to sources that monitor real-world data on the athlete's performance statistics. A licensing agreement is signed with the corresponding athlete or team on every dNFT drop, allowing OWNIC to have some unique utility through some interesting features like dNFT staking allowing collectors to assemble sports clubs for virtual games, VirtualScout is a Play-to-Earn football scouting competition, InnerCircle acts as a pass to signed merchandise & interactions with the athlete, and ClubDAO which is a sports club DAO governed by the OWNIC community. Dynamic sports cards are an intriguing idea, only possible through the new technology of NFTs, and marks the beginning of projects utilizing the benefit of dynamically changing NFT MetaData.

17 Celebrities Receive A Warning For Shilling NFTs

When NFTs hit mainstream news, a lot of publicity came from many celebrities choosing to shill NFTs that in one way or another turned out to be pumps and dumps. Although there has been no official involvement from the FTC (Federal Trade Commission), a recent round of warnings by ‘Truth in Advertising’ may soon change that. This isn't the first rodeo for ‘Truth in Advertising’, the last time they sent this type of letter was in 2016 to a bunch of celebrities including the Kardashians about needing to disclose paid ads on Instagram, it wasn't long until the FTC started sending its own letters in 2017 and in-turn changed the laws on social media advertising to what we know today. A public exempt from the original NFT warning said “We have found that celebrity NFT promotions are an area rife with deception, including, but not limited to, a failure to clearly and conspicuously disclose the promoter’s material connection to the endorsed NFT company, as well as the omission of other material information, such as the risks associated with investing in such speculative digital assets”. As the NFT space looks to fully utilize the potential of NFTs in the next Web3 age, it is important that steps are being taken to make Web3 safer for everyone getting involved, and so holding celebrities accountable and drawing attention from Federal services is definitely one way to do this. If you are curious who the celebrities were, the list is as follows: DJ Khaled, Drake Bell, Eminem, Eva Longoria, Floyd Mayweather, Gwyneth Paltrow, Jimmy Fallon, Logan Paul, Madonna, Meek Mill, Neymar Júnior, Paris Hilton, Shaquille O’Neal, Snoop Dogg, Timbaland, Tom Brady, and Von Miller.

NFTs Taking Over The Lottery

Two collaborative projects, @BullPerks and @GamesPad, have just introduced their new vision for the future of the NFT lottery. To understand what the solution is trying to be, let's visit the problem, now the Lottery seems to work fine, but there are two key advantages that NFTs can bring to the table; Digital ownership eliminates the need to look after a physical ticket, and as the lottery is governed by smart contracts, there is unparalleled transparency from choosing a winner, and the winner in-turn receiving their rewards. The gaming, NFT, and Metaverse ecosystem GamesPad is aiming to implement these advantages in the launch of their new NFT Lottery feature that will let community members win exclusive NFTs. Initially, GamesPad will allow users to win NFTs from different art collections by betting a specific amount of BullPerks ($BLP) or GamesPad ($GMPD) tokens. It seems like in almost every edition of Morning NFTea, we talk about a brand new use case for NFTs, and creating more secure and transparent lottery systems is just one of those ways, wonder what's next.

Trippy Mega Mutant Ape Sold For 2300 ETH

It would be hard-pressed not to cover one of the most significant Bored Ape NFT sale ever so far, where a Trippy Mega Mutant Bored Ape has recently sold for 2300 ETH ($4.3 million USD). @Lior.ETH is the proud new owner of Mutant Ape #30005, and tied the deal over in a sale of various other assets to total the 2300 ETH valuation. When it comes to a $4 million NFT, what governs this price? As with most popular NFTs, the majority of its value comes from its exclusivity. The Mutant was transformed from a normal Bored Ape using one of only eight Mega serums, of which the last serum sold for 1,542 ETH back in January. If you want to mutate your BAYC, but can't fork out enough for the Mega Serum, the 2,492 supply of M2 serum has a current floor of 50 ETH, and the 7,500 supply of M1 has a floor of 25 ETH. Although not some game-changing news, it's always intriguing to know what is currently attracting the big bucks in this new Web3 NFT world.

Thanks for reading today's edition, have a great couple of days and we will see you soon with more Morning NFTea!

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