Instagram NFT Launch

Project Spotlight: Endstate NFT Sneakers

Welcome to The Drop NFT Newsletter. Breaking NFT news, project breakdowns, & artist spotlights - We do the heavy lifting so you don't have to! Join our Discord to win raffles and allow list spots!

What's Dropping ⚡️

  • Rumors are swirling about a Starbucks NFT that will be tied to a rewards system. We may see their blockchain integration sometime in September. (TechCrunch)

  • ENDSTATE may have created the perfect NFT collection for sneakerheads. Their digital collection will mirror your physical pair, these shoes being both smart and stylish. (Read More Below)

  • While Minecraft's Mojang recently shunned NFTs, similar game Roblox welcomes the concept with open arms. They are looking to hire a Web 3 Senior Engineer. (Twitter)

  • NFTs helped to send Coby Cotton of the Dude Perfect youtube channel into space. MoonDAO raised enough to buy a seat on Bezos' newest rocket for a twenty-minute round trip to space and back. (MoonDAO)

  • Web 2 domain NFTs.com just sold for $15M and was facilitated by Escrow.com and GoDaddy. (DomainWire)

  • Investor Simon Kim lost nearly $3B of Luna after the token crashed earlier this year. Despite the setback, he has his eyes on the grand scheme as he looks to raise funds for his firm. (Bloomberg)

  • Instagram must have been satisfied with their tests, as they are expanding NFT capability to more than 100 countries. (Engadget)

Project Spotlight: Sneakers by Endstate 👟

While a number of larger sneaker companies have dipped their toes into Web 3 and NFTs to varying degrees of success, the masterminds at Endstate have been behind the scenes meticulously crafting their sneaker initiative that is sure to rock the space.

The fully doxxed team has been designing the upcoming collections over the last year. Led by Co-founder Stephanie Howard, who is known for her 25+ years of experience working alongside Nike, Reebok, and New Balance. The project in question is called Endstate and is perfectly conjoining physical wear with digital counterparts, in more complex ways than have ever been attempted. These physical shoes come integrated with special chips that prove ownership and grant access to exclusive events.

This technology links each pair of shoes to a digital version held on the blockchain as an NFT. The chip within the tongue can be scanned and recognized to allow access to physical events and provide information such as rarity and generation. As mentioned, the team has a massive array of talents and credentials that all lend their personal touch and initiative to this monumental project that is sure to make waves at every step.

A big question may still linger for the sneakerheads; how do these sneakers stack up next to high-end collectible wear that is already solidified in the market? There is a massive market worldwide for sneaker collectors and flippers. The Endstate sneakers are sleek and often high-top SB style, hosting a variety of colors and styles.

With the massive success of their first drop and $5.5 million seed round, Endstate's Drop 2 will have 750 available NFTs for 0.3 ETH each.

Minting opens up on Tuesday, August 9th, 2022.

🚨 Endstate Links: Twitter, Website, Discord

techcrunch.com

Instagram NFTs Set To Go LIVE 📸

Instagram first announced experimenting with NFTs in May and at that time the integration was limited to a select few. Yesterday Instagram announced that users across a hundred countries will be able to use the gram to share their digital collectibles. Digital collectors will face no obstacles in connecting their wallets with Instagram since a wide variety is compatible including Rainbow, Trust Wallet, MetaMask, Dapper Wallet, and Coinbase Wallet. The image above demonstrates how Instagram users will be able to distinguish NFTs from other posts on their feeds. Namely, NFTs will have a checkmark housed inside of a hexagon placed at its bottom left corner. 

This marks Meta’s first major foray in introducing the world of Web3 to its nearly 1 billion active Instagram users. Alongside integrating NFTs onto its platforms Instagram has also launched an educational program named NFTeach Me through its @creators account to help users make sense of what this new feature lets them do. In fact, the launch of both the instructional videos and NFT integration can be read as one of the first and most powerful NFT standardization moves by any single Web2 entity. Time will tell if Instagram’s move has a positive impact on NFT adoption at large, but the fact that users will at least be exposed to some basic elements like the need for a wallet and their ability to acquire and own digital assets that they desire is a good start.

🧵 Of The Week

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Disclaimer: The Drop DOES NOT provide financial advice. All content is for informational purposes only. The Drop is not a registered investment, legal, or tax advisor or a broker/dealer. Trading any crypto-related asset is extremely risky and could result in significant capital losses. 

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