Reddit > OpenSea.
PLUS: 🍎 Apple to allow NFTs in AppStore, 📱 Crypto-specific cellphone, 🎞 Warner Bros. enters Web3.
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Headlining…
Most important news of the past week:
🍣 Top Decentralized Exchange, Sushi, develops 3-pronged legal structure (2 Fndns, 1 Co.) in Caymans and Panama.
🃏 United States Playing Cards Co, Bicycle, making Bored Ape NFT playing cards.
🎞 Warner Bros. spearheads Web3 Movie Exp. w The Lord of the Rings: The Fellowship of the Ring NFT.
🛒 E-commerce platform Shopify announces web3 experience for merchants.
Social proof…
Key cases of adoption over the past week:
👛 Reddit with more NFT wallets than OpenSea and $2.5m in TV this week.
Why this Matters: Called exclusively digital collectibles, NFTs on Reddit have prompted users to open an est. ~3 million NFT wallets on the platform, trading for which has generated $2.5m in Daily Trading Volume. Reddit is demonstrating the potential for established, multi user platforms to seamlessly integrate crypto. Amazon, Twitter, Shopify… take notes.
🍎 Apple allowing NFT sales on AppStore.
Why this Matters: A new update in the Apple AppStore introduced technical guidelines for developers looking to add in-app NFT purchases. While this makes buying NFTs much easier for Apple product users, all NFT purchases made from iOS apps will attract an extra 30% fee — concerning for many developers.
📱 Vertu selling the world’s first web3 cellphone — for up to $41k.
Why this Matters: Smartphone manufacturer Vertu announced their new device, the Metavertu — a cell phone running its own blockchain node that can make videos and photos into NFTs. This is the first “web3 phone” on the market, with price for models falling between $3.6k-41k. The lowest price being nearly 3x that of new iPhone, we don’t expect to see the Metavertu be widely adopted.
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