OpenSea introduces new partnership to bring McNuggets to the Metaverse

OpenSea introduces new partnership to bring McNuggets to the Metaverse

The Vibrant and Evolving World of Blockchain

This week in the blockchain industry has been filled with exciting developments and noteworthy events. From OpenSea’s new feature “Deals” to McDonald’s foray into the metaverse with McNugget Land, the blockchain ecosystem continues to expand and captivate users. Additionally, while venture capital funding for Web3 has experienced a significant decline, metaverse startup Futureverse managed to secure an impressive $54 million seed round. In this article, we will delve into the key highlights of the blockchain industry, explore the latest projects, and shed light on the potential impact of these developments.

OpenSea’s “Deals”: Empowering NFT Collectors

OpenSea, one of the leading NFT marketplaces, recently introduced a feature called “Deals.” This innovative addition enables collectors to trade NFTs directly with each other, eliminating the need for intermediaries. In addition to facilitating direct peer-to-peer swaps, OpenSea allows users to sweeten their deals by adding Wrapped Ether (WETH).

With “Deals,” OpenSea aims to address some key challenges faced by NFT collectors. By providing a secure platform for direct trading, OpenSea hopes to combat scammers who exploit collectors through fraudulent direct messages. This feature also offers near fee-free transactions, as OpenSea has waived its fees and eliminated creator payments for these peer-to-peer swaps. Users only need to cover the gas fees associated with the transaction.

McNugget Land: McDonald’s Enters the Metaverse

McDonald’s, a household name in the fast-food industry, has made its foray into the metaverse with the launch of “McNugget Land” on The Sandbox platform. This virtual realm allows users to interact with pixelated McNuggets and engage in various mini-games. However, the initial reception of McNugget Land has been mixed, with some users questioning its purpose and the absence of iconic characters like Grimace.

Despite the skepticism, the announcement from The Sandbox encouraged users to “party with their favorite Chicken McNuggets.” This raises the question: can a McNugget truly become someone’s favorite character? The collaboration between McDonald’s and The Sandbox showcases the growing convergence between traditional brands and the metaverse, as companies explore new ways to engage with their audiences in immersive digital realms.

Funding Landscape: Web3 Faces a Downturn

While the blockchain industry is witnessing rapid growth and innovation, recent data from Crunchbase reveals a significant decline in venture capital funding for Web3 projects. In the first half of 2023, only $3.6 billion was raised, marking a staggering 78% drop from the $16 billion raised in 2022. This downturn in funding has raised concerns about the long-term sustainability of Web3 startups.

However, amidst this challenging funding landscape, Futureverse stands out as a beacon of hope. This metaverse startup, formed through the collaboration of 11 different firms, recently announced an impressive $54 million Series A round led by 10T Holdings. The success of Futureverse demonstrates that despite the overall decline, innovative projects with strong value propositions can still attract significant investment.

Project in the Spotlight: Opepen Threadition

One project that has recently caught the attention of the blockchain community is Opepen Threadition. Initiated by visualizevalue.eth, this project gained prominence on Crypto Twitter and NFT Twitter due to an intriguing trade proposal involving the iconic Mutant Ape NFT. Following a lost election for a spot on the Ape Council, Thread Guy received an offer from @BoredOpepen to trade one of his rare Opepen NFTs for the Mutant Ape.

This trade sparked a flurry of offers, including a $1 million guarantee from Pudgy Penguin CEO Luca Netz. However, it was visualizevalue.eth, also known as Jack Butcher, who emerged as the winner. He created an open mint for a specially crafted Opepen NFT inspired by Thread Guy’s Ape, with all proceeds going directly to Thread Guy. This project gained immense popularity on Crypto Twitter, with countless interpretations shared, all celebrating the spirit of the blockchain culture.

Other Noteworthy News

In addition to the aforementioned highlights, several other developments deserve our attention:

  1. Doodles goes to Camp: The NFT project Doodles collaborated with a Chicago-based boutique toy store called Camp to create an immersive real-life experience. Users can enter a magical glowing portal and explore the enchanting world of Doodles.

  2. Neopets’ Metaverse Pivot: Neopets, a well-known virtual pet website, initially ventured into the metaverse and NFT space in August 2022. However, the company recently decided to abandon its Web3 initiatives and return to a project without crypto or NFTs.

  3. Blockchain Game Alliance: The Blockchain Game Alliance, an organization promoting blockchain adoption within the gaming industry, elected a new board to lead its initiatives. Notably, CoinDesk contributor Leah Callon-Butler is among the new board members.

  4. SBF Animated Comedy Series: The FTX saga, centered around Sam Bankman-Fried (SBF), will soon be immortalized in an animated comedy series called “FORTUN3.” This series will celebrate the bold choices of those who purchase associated NFTs.

Non-Fungible Toolkit: Understanding ActivityPub

Meta recently released their Twitter alternative, Threads, which has already garnered over 100 million downloads. One notable feature of this app is its support for ActivityPub, a decentralized social media protocol. ActivityPub enables users to interact not only within Threads but also with other platforms in the “fediverse,” such as Mastodon.

ActivityPub, in essence, fosters interoperability and allows users to connect and engage across different decentralized social media platforms. The fediverse, powered by ActivityPub, offers a more open and inclusive digital landscape, promoting freedom of expression and fostering diverse communities.

As the blockchain industry continues to evolve, these developments highlight the dynamic nature of the space. From NFT marketplaces to metaverse collaborations and funding trends, the blockchain ecosystem presents a myriad of opportunities and challenges. Embracing innovation, exploring new frontiers, and nurturing vibrant communities will be crucial in shaping the future of blockchain technology. Stay tuned for more exciting updates and join us on this remarkable journey through the blockchain universe.

Edited by Sheldon Reback.