Autor Cointelegraph By Savannah Fortis

Canadian taco franchise uses NFTs for customer loyalty program

Canadian taco franchise uses NFTs for customer loyalty program

Uverejnil používateľ | aug 3, 2022 |

With 19 locations across Canada and a plan for expansion into the United States, this $6 million taco franchise wants to capitalize on their growing customer base. The collection, Tenacious Tacos, allows holders to receive both Web3 and real benefits. Moreover, for those who wish, they can stake their nonfungible tokens (NFTs) to earn additional digital rewards.According to the official statement, staked Tenacious Tacos can be redeemed for rewards such as the chance to win a lifetime of free food or monthly payouts in ETH/WETH.Previously Landry’s restaurant group, which includes Bubba Gump Shrimp Factory and Rainforest Cafe, introduced a Bitcoin loyalty program. However, in that instance, customers were able to earn rewards in Bitcoin (BTC), such as $25 worth of Bitcoin for every $250 spent at one of many restaurants in the brand. StrEAT’s method simultaneously adds additional value to traditional loyalty programs and utility to NFTs. A Canadian-based restaurant franchise is adding more utility to the growing number of NFT use cases. The StrEATS franchise plans to utilize NFTs in their new customer loyalty program. Related: NFT utility to remedy ticketing dilemmas? Experts weigh inJoe Klassen, CEO of Joeys Group of Restaurants and founder of the Tenacious Tacos NFT project, highlighted the importance of their community: “The vision with this project is to become closer with the community while simultaneously creating the opportunity for them to share in our growing success.” The loyalty program’s real-life NFT benefits include 20% off at all StrEATS locations, VIP event access and voting rights on new menu features.In June of this year, the major burrito and taco chain Chipotle introduced cryptocurrency payments at nearly 3,000 locations across the U.S. Last month, the chain also announced a crypto giveaway to customers through a digital game.

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Google AI turns all 10,000 BAYC NFTs into machine-made art

Google AI turns all 10,000 BAYC NFTs into machine-made art

Uverejnil používateľ | aug 2, 2022 |

Google Cloud Neural Networks worked with its artificial intelligence (AI) software to make art. Not just any art — nonfungible token (NFT) art. The AI transformed all 10,000 Bored Ape Yacht Club NFTs into machine-made works of art. These pieces of art take the form of abstract paintings. However, when viewed closely, the paintings take an ape shape tha resembles the famous Yuga Labs collection. The project was named Artsy Monke, combining the BAYC ape-spiration and the artistic, fine art aspect of the final product. According to the official statement about the project, Artsy Monke utilizes years of AI advancement along with image diffusion techniques. All images were created through Google’s collaborative Notebook service Colab in combination with cloud computing. Google’s AI can reimagine these NFTs simply through text description, not only from reference images. Though for these pieces, the BAYC NFTs were given to the AI as “a loose canvas within which to frame the generative art,” said CryptoGrims, the resident AI artist. CryptoGrims called the initial response mind-blowing and tweeted, “This is what happens when #technology meets #art.”This is what happens when #technology meets #art.10,000 unique pieces of original monkey art painted by an artificial intelligence trained to learn from 14 million images of every subject matter that ever existed. pic.twitter.com/fVWhprUGV9— Grims (@cryptogrims) June 24, 2022The artist said after the initial feeding of the image canvas, they had to teach the AI how to paint in “the twenty different art styles we shortlisted and then running multiple servers for several weeks to get the results we wanted.”Although some of the images can be easily paired with an original BAYC image, the intricacy of these Artsy Monke creations is incomparable. Some of the Artsy Monke pieces have entire micro worlds digitally painted into the vague outline of an ape. While others are simply an ape-shaped blended collage of futuristic elements. Unlike the typically high price tags on BAYC NFTs, this 10,000-piece collection started at only 0.001 ETH, which at the time of sale equaled $1.4. However, the collection sold out shortly after its listing on OpenSea. According to its creators, the NFT also acts as a utility token for holders to participate in Artsy Monke games and more. “We wanted Artsy Monke to be pieces of art that you could hang on your wall, but also, by using Web3 technology, we can also let holders access the Artsy Monke games and earn real money. The more Monke NFT you hold, the more games you can play and the more money you can earn,” said Dan Hovey, the blockchain developer behind the project. Related: There’s more to NFTs than just PFPs — 5 ways nonfungible tokens will transform societyThis BAYC-inspired project comes when the original collection is still a hot item on the market. Last month hundreds of BAYC owners signed up to have their NFTs available for hire to outside brands. Shortly after, the clothing brand Old Navy released a shirt featuring a leased ape.

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Metaverse market share to surpass $50 billion by 2026, says new report

Metaverse market share to surpass $50 billion by 2026, says new report

Uverejnil používateľ | aug 2, 2022 |

A new report by technology research and advisory firm Technavio reveals an upward trend for the Metaverse within the next four years. The report titled “Metaverse Market in Finance by Component and Geography – Forecast and Analysis 2022-2026” analyzed the metaverse from two viewpoints. The first is software and hardware, and the second is through the impact of various geographical regions. According to the study, the metaverse will hit a market share value of $50.37 billion by the year 2026. Metaverse growth was analyzed within the five timeframes between 2021-2026. Moreover, market growth momentum has acceleration projections of a CAGR of nearly 21%. This year alone, growth is projected at 20.11%. In terms of regional growth, 32% percent will come from the North American region, with Canada and the United States as leaders. Other key consumer countries included China and Germany.This year, Germany and the U.S. shared the top spot in global crypto rankings due to their more progressive regulations and the rate of institutional adoption.However, metaverse interest can undoubtedly be seen across the globe. Earlier this month, the United Arab Emirates launched its Dubai Metaverse Strategy to become one of the top 10 metaverse economies. Related: Blockchain cloud infrastructure company W3BCloud to go public via $1.25B SPACAdditionally, the report highlighted the leading metaverse applications. According to the survey, the top seven metaverse wallets include Meta Mask, Enjin Wallet, Coinbase, Math Wallet, Alpha Wallet, Coinomi and Trust Wallet. A similar report this month highlighted fashion and e-commerce as industries to watch in the metaverse space. Within the same five years, the metaverse in the fashion market is expected to enjoy an increase to $6.6 billion with a growth acceleration rate CAGR of 36%.

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Upcoming Muse NFT album becomes first new format added to charts in years

Upcoming Muse NFT album becomes first new format added to charts in years

Uverejnil používateľ | aug 1, 2022 |

The upcoming Muse NFT album will be the latest chart-eligible album format since 2015. Prior to this album concept, the last format to be accepted by international charts was album streams. Nonfungible token (NFT) albums are now eligible for both United Kingdom and Australian charts. Will of the People is the British rock band’s ninth studio album and will be released on Aug. 26t. It will be the flagship “Digital Pressing” album from the Web3 marketplace Serenade.Serenade created digital pressings as a “brand new, limited edition and collectible” music format released via non-fungible token technology. The marketplace is using this new format to cater to community connectivity and product scarcity. Max Shand, the CEO and founder of Serenade, told Cointelegraph, “Digital pressings allow the music industry to easily slot NFTs into existing workflows and creative processes without having to fund new projects or design new ways of working. If you want to innovate in the music industry, innovate around the album cycle because this is how the industry operates.” The marketplace cooperated with the Brit Awards, an annual U.K. pop music award show, in February of this year by hosting their NFT collection, which sold for £10 ($12.25) each.Certainly, this is not the first instance of NFT involvement in the music industry or with chart-topping musicians. So what makes this so groundbreaking? In the past, NFTs have often been bundled into album releases or other types of music-related campaigns. Until now, there has not been a release of an entire album as an NFT. NFT albums as a chart format existed prior to this launch, though the Muse album will be the first to fall under thes standards. More specifically, the Digital Pressing format introduced by Serenade offers a new standard of royalty management. In the official press release Serenade highlighted that, “living on the blockchain and offering web3 capabilities such as verifiable ownership and the ability to trade on secondary markets, a Digital Pressing will also accrue accurate, perpetual royalties for artists, copyright holders and content owners.” Related: Ticketmaster scouts productization of enterprise NFTs beyond ticketingMusic industry insiders see this as another step toward the “future of music.While this may be a new first for international music industry charts, it is no surprise it will be introduced by Muse. The band was one of the initial major artists in the industry to utilize NFTs in their creative outputs. In fact, the lead singer of Muse, Matt Bellamy, dropped a solo track as an NFT earlier this month. In September 2020, the band collaborated with the infamous CryptoKitties project, and later in July 2021, the brand released its own NFT collection on Nifty Gateway. Shand told Cointelegraph that working with Muse for this release was a no-brainer, “Muse was an obvious choice to be the first artist to offer fans a digital pressing, as they’re innovative and have a die-hard audience of completist fans who have always displayed an appetite to collect great merchandise from the band.”

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Condense to live stream IRL events into the metaverse

Condense to live stream IRL events into the metaverse

Uverejnil používateľ | júl 28, 2022 |

The Metaverse infrastructure company closed a seed funding round to continue the development of 3D live streaming technology. Condense raised $4.5 million in a round led by LocalGlobe, 7percent Ventures and Deeptech Labs. The technology employed by Condense live streams 3D videos into the Metaverse via games and existing platforms. The firm states that such technology has the potential to create an entirely new world of content creation and entertainment engagement with real-time connections. Additionally, Condense had participation from angel investors and music industry insiders such as English footballer and platinum-selling artist Tom Blomfield (Mozo) and music manager Grace Ladoja.Funding from this round will go toward relationship building with content creators, artists, labels and existing Metaverse platforms. The underlying technology of Condense utilizes, “cutting-edge computer vision, machine learning and proprietary streaming infrastructure to capture and embed live 3D video (Video 3.0).” This live video experience is then streamed into metaverse games, mobile applications or platforms created with Unity or Unreal Engine. The 3D aspect of these live streamed events will allow a unique and dynamic perspective for every player simulating a physical live event. Such technology adds a level of individualism to Metaverse events, moreover, to simply watching a standard event live stream. This development comes as the music industry continues its push for engagement with Web3. technologies and digital interactions.

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