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Snapchat Augmented Reality NFTs

Artist Spotlight: Glass Crown + Shanghai Web3 Plan

July 14, 2022

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!

Happy Thursday đź–¤

Is it just us or do we feel the market starting to shift in a good way?

What's Dropping ⚡️

  • Inflation in the U.S hit 9.1% in June, higher than it has reached in over 40 years. Buckle up, friends! (WSJ)

  • Walt Disney Company selects Polygon and five other businesses to participate in their Accelerator program, with an of developing more Web 3 experiences. (Coindesk)

  • This address that is tied to Alameda Research was one of the most profitable addresses over the last year. (Etherscan)

  • STEPN plans on buying back and burning their native token GMT, using their profits from last quarter. They will also be investing in stronger security and a larger team. (Medium)

  • A new trend of burning listed NFTs has been seen more and more lately, the most recent being the verified project WZRDS. Some are upset by this while others cheer on the sidelines. (WZRDS)

  • Although overall volume for NFTs remains at a yearly low, the amount of new users remains consistent. All aboard! (Cointelegraph)

  • A new solution for "grading" NFTs has been developed by Infiniteworld and is simply called nftGrade. Grade yours here. (nftGrade)

Snapchat AR NFTs 📸

Snapchat is onboarding NFTs and they want users to be able to enlist their NFTs as lenses in the app. Augmenting reality with NFTs on the app will be first tested with an exclusive group of users and then be more widely available. The business case for integrating NFT functionality cannot be understated, both Instagram and Twitter are toying with ways to present digital goods and make them interactive. Snapchat has introduced this bit of news as well at its subscription-based Snapchat Plus ahead of its earnings report this July 21st.

The move can be read in several ways, one of which reduces it to a ploy that Snapchat is running to stay relevant. Another read would be that they are trying to sustain the good spirits of investors. But neither of these readings pay attention to the kind of interesting capabilities NFT AR permits. What this feature allows is the exclusive and licensed use of digital goods that allows users to play with digital identity in powerful ways. If Snapchat plays this right, they could soon have a marketplace where Snapchat users can trade their AR wearables and objects.

Artist Spotlight: Glass Crown đź‘‘

Glass Crown. A name that means you rule your world with clarity and purpose. I always imagined worlds that fused dream and reality. 7 years ago, I picked up my first camera and attempted to shoot models in interesting wardrobes and poses. I found the normal to be incredibly boring with my art and pushed myself to learn more. Diving into Photoshop, I learned how to place a model in any scene. Since I could not travel the world, I brought the world to myself. My art journey has always been inspired by film and gaming styles, epic music scores, and detailed stories. Now a full-time NFT artist, I still push myself and cyclone in any tool available, now using AI and 3D, to level up my art. Resourcefulness is the ultimate resource, so using what is available to you to the ultimate max is a key to success. Characters and scenery revolve in my different world. I want the viewer to see my art and let their mind finish the narrative on what is going to happen next. After all, art is incredibly subjective.

🚨 Important links to find Glass Crown's work: Twitter, Website, Instagram, All Links

The Jahkarta Post

Shanghai Outlines Web3 Plan 🤝

With Web3 and crypto becoming endorsed by corporations and individuals alike, it comes as no surprise that governments are paying close attention. Most political bodies talk about regulation and rules, while others talk about how to incorporate crypto into society itself. That’s where Shanghai comes into the picture.

In its “5-year Plan for the Development of Shanghai’s Digital Economy”, the municipal government lays down what it feels will not only advance the city’s digital economy but also make it a beacon for social and economical change. As Web3 is concerned, the plan focuses on the idea that Shanghai will “research cutting-edge technologies in the blockchain field such as consensus protocols, encryption, digital signatures, smart contracts, and cross-chain protocols, as well as new basic platform technologies for public chains and consortium chains and build blockchain application development support platforms and open source communities to form a blockchain technology system and continuous innovation capabilities.” This directly correlates to NFTs and the technologies that they’re built upon. And with things like Ethereum wallet adoption being at an all-time high, it makes sense that China would want to get its hands dirty with blockchain and the data correlated to it. (ding ding ding… data collection)

With regulation on the horizon, crypto investors are starting to worry about governments taking a hard stance on the adoption of Web3. With countries on either end of adoption, these plans that involve blockchain technology are a great step in the right direction. If China’s largest city is planning for its Web3 future, we would assume that we should be in the right place. Web3 isn’t going anywhere. WAGMI.

Meme Drop đź’§

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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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