Yuga Labs Gives Back

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Here is the breakdown of today's newsletter:

🎁 Yuga Labs Gives Back📄 Sony NFT Patents⚙️ BVDCATS Utility Update

• ApeCoin DAO will be offering microgrants to the Meebit community over three waves. The funds will be used to develop the utility of the Meebits. (@meebitshouse)

• Funko drops digital Digital Pop figures themed after The Matrix. The collectible is available on the Wax blockchain and enters holders for a chance at a limited0edition physical vinyl figure. (@OriginalFunko)

• Pro athlete Cristiano Ronaldo is dropping his NFT collection called CR7 exclusively on Binance. Here is his tweet about it. (@Cristiano)

• Crypto management firm Ikigai has been accidentally caught up in the crossfire of the FTX collapse, as a large majority of their funds were on the platform. Hear from their CEO here. (BW)

• Yuga Labs launches a museum donation initiative called Punks Legacy Project. They will be working to donate and install Crytopunk NFTs in museums worldwide. (DC)

• Yakoa is an NFT fraud detection startup that has already raised funds to develop digital tools that will guard against fraud in Web3. (YK)

• Manchester United drops free NFTs on the Tezos blockchain, celebrating their Web 3 initiatives. (MU)

• Kevin Bowers of Jump went on stage at Solana Breakpoint to talk about the blockchains future optimization. (YT)

Yuga Puts Money Where Their Mouth Is 🗣

Yuga Labs is giving out money… don't be alarmed, this isn’t the creepy ponzi brand of altruism that SBF championed. Earlier this week, Yuga pledged one million dollars towards the arts and sciences in its hometown of Miami. Aside from direct donations, Yuga has also been on the prowl, absorbing notable NFT projects such as 10KTF and WENEW, which now enables Beeple’s oversight on the Yuga Lab enterprise. Things are getting exciting for this web3 staple.

• Bored Apes are sending kids to school… after making their pledge, Yuga has already contributed $300,000 to the Venture Miami Scholarship Fund to help students access careers in STEM

• CryptoPunks are about to become more iconic… Yuga Labs started an initiative called the Punks Legacy Project, and they’re gonna plaster a CryptoPunk in every iconic museum they possibly can. CryptoPunk #305 has already been donated to Miami’s Institute of Contemporary Art.

THE DROPYuga Labs knew exactly what they were doing when they acquired CryptoPunks. The project has an iconic and essential position in the history of NFTs, but that in itself doesn’t matter unless people tell the story. And that’s what Yuga’s most recent run has been all about, stories. From acquiring rich story tellers like 10kft’s Wagmi-Sen, to expressing the story of CryptoPunks, and therefore NFTs more globally.

Undercover Sony NFT Patents 🥸

The gaming industry integration of NFTs hasn’t been talked about much during the bear market. Back in 2021, the hype and attention around the vision and future of NFTs was positive (and still is), and thus companies were looking at ways to integrate them into their own company roadmaps. What we did not really talk about was the gaming industry, and that’s why we missed Sony filing a patent that incorporates the idea of “a system and method for tracking digital assets associated with video games.” There are other elements that Sony talks about in their patent, which was published on November 10, 2022, listed below:

• The “digital asset”, as Sony calls them, can come in the form of an in-game item or character/skin, and also a digital moment, like a replay. or screenshots of a game.

• There is a ledger that tracks the history of these digital assets. Sony also mentions each asset having a “unique token” and “metadata” to see the attributes/properties of said asset. If that isn’t synonymous with a NFT, I don’t know what is.

• Sony also mentions the notion of blocks that can include hashes of previous blocks, thus allowing them to track changes to metadata, ownership, and visual appearance. In other words, Sony wants to incorporate a blockchain into its gaming ecosystem, ushering in a new paradigm of gaming.

The DropIt’s really cool for us at The Drop to see these types of integrations pop up, especially in the bear market. We’ve been talking about the future potential of gaming for a long time, and this further proves that people and companies have been building for a while. To think that this patent was filed in early 2021, it’s safe to say that there’s a chance Sony is working on something behind the scenes. Maybe they’re not. But it shows their willingness to notice the potential of NFT technology. It’s always about the tech. WAGMI.

BVDCATS Building Real Utility ⚙️

Yesterday, BVDLABS, a subsidiary and a joint cooperation between BVDCATs and CryptoCoders, announced their new SaaS offering. An innovation that has been in the works for a while, the critical model behind these new products is using BVDCAT to show how the tech can provide direct value to their community. The SaaS offerings include services like Pfp/Twitter Staking, Gacha machine, NFT store, Trait swap, and Auction place. Sales from the SaaS deals will go directly into supporting the development of the new tech and sustaining the value of the $REP token - BVDCAT's native/staking token.

The objective of BVDLABs is to ensure that the BVDCATs project can survive without royalties and create a self-sustaining project to ensure the project's survival within the ever-changing meta, hence the reason for investing in revenue generating innovations like this. The social staking (Pfp staking) service introduced by BVDLABs allows users to connect their PFP to their wallet to earn rewards and gives creators the advantage in terms of social media engagement to create visibility for their collection.

The Gacha Machine is an electronic ‘spin the wheel’ with many rewards available for the players. Just like the raffle games, the Gacha is loaded up with prizes after which the spin prize is set (in SOL and/or SPL tokens) and the user competes as many times as they'd like. More info can be found on the whitepaper here.

Sponsored Content: There is no sponsored content in this newsletter

• Nike Launches .SWOOSH Web3 Platform

• FTX Enron 2.0?

• FTX Collapses Overnight

• Asics Stepping Into NFTs

• OpenSea Forcing 0% Royalties?

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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