Read this if you don’t want to know anything about FTX

The one whose name should not be mentioned is currently the subject of much criticism because a certain crypto exchange, which should not be mentioned in this article, is on the verge of collapse. It looks like Harry Potter, but unfortunately it’s not made up.

But we don’t want to discuss it further in this article. Because despite everything, there is news in the crypto space that has nothing to do with the fiasco. You can read some of them in the following post.

NFTs are now officially modern art

Yuga Labs aims to establish NFTs as a modern art. According to a press release, the company has donated a CryptoPunk NFT to the Institute of Contemporary Art in Miami as part of a new project.

“Just as Jeff Koons and Andy Warhol sparked a renaissance in contemporary art, I hope CryptoPunks can pave the way for NFTs,” said CryptoPunk Brand Manager Noah Davis.

CryptoPunk #305, which is Miami’s zip code, was selected first. The pixel image is to be displayed at the museum from December 3. In addition, it is planned to make available various materials on the topics of Web3, art history in the crypto space, security and NFTs.

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The island state wants to preserve cultural heritage on the Web3

At the 27th United Nations Climate Change Conference (COP 27) in Egypt, the island nation of Tuvalu announced that it was recreating its nation in the metaverse.

Rising sea levels due to the climate crisis threaten the existence of the island nation in the Pacific Ocean. According to the website, Tuvalu could be engulfed by water “in just a few decades”.

“As our country disappears, we have no choice but to become the world’s first digital nation,” said Simon Kofe, Tuvalu’s foreign minister, in a video. At the same time, he pleads with the world community for more climate protection, which could prevent his country from sinking: “Only a concerted global effort can ensure that Tuvalu does not permanently go online and disappear from the physical plane forever. “, warns Kofe.

Besides Tuvalu, for example, Barbados has also already opened an embassy in the blockchain-based Metaverse Decentraland – BTC-ECHO reported.

Nike with its own virtual clothing platform

The fact that the sports shoe giant has been around for a long time on Web3 should no longer surprise anyone. As early as 2019, Nike was granted a patent for “Cryptokicks” – i.e. sneakers as NFTs. At the latest with the takeover of the NFT fashion producer RTFKT, the sporting goods manufacturer has made clear its intention to continue to be active in the NFT sector.

In a press release, Nike has now announced that it has created its own platform for virtual sneakers and other apparel. Thus, members of the platform called “.SWOOSH” should be able to learn about virtual products, collect them and create them. These can then also be used in games and used to unlock physical products, according to the post.

The official announcement does not specify which blockchain the new platform is based on. A Tweeter from Polygon, however, reveals that Nike chose the Ethereum sidechain to advance further into the NFT space.

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