Weekly Newsletter 1 April 2022

In a clear demonstration of the innovation that is running wild in the NFT space currently, artist, Jess Koons will be launching an NFT project named “Moon Phases”, made up of a series of sculptures that will land on the moon! Similar to the Out of Africa collection, each of these sculptures have a corresponding NFT that denotes ownership. Although artworks have been sent to space before, this marks the first time that artworks have been approved for a moon landing. The intention is that the sculptures will remain there forever after landing in July this year.

After last week’s focus on security risks for NFT users, this week’s newsflow touched on similar topics. In traditional finance, fat finger errors are also common, but can normally be reversed without too much fuss — but in crypto there’s not much you can do as one Bored Ape Yacht Club (BAYC) owner found out this week after listing his ape for $115; a tough pill to swallow as the cheapest NFTs in the collection are worth over $350,000.

Finally, the biggest name in NFTs, Yuga Labs (ApeCoin, Bored Ape Yacht Club, Mutant Ape Yacht Club, Meebits, and CryptoPunks), have announced the coming launch of a metaverse platform, Otherside. The project aims to create a player-governed, interoperable world that is “gamified” and “completely decentralized.” The intention is to connect its massively multiplayer role-playing game to the broader NFT universe. You can view the trailer here.

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