Nifty News: Prada launches new fashion NFT, P2E games witness growth in India

Kalush Orchestra’s auction was able to raise $900,000 for aid to Ukraine.
Tom Farren
Posted by Tom Farren June 1, 2022 3 Mins Read
Kalush Orchestra’s auction was able to raise $900,000 for aid to Ukraine.

Following its initial foray into the nonfungible token (NFT) space with the Adidas for Prada re-source project in partnership with digital artist Zach Lieberman and SuperRare, iconic fashion brand Prada has now announced its first independent NFT collection accompanying the Prada Timecapsule.

An online event hosted on the first Thursday of every month, Prada Timecapsule has, since December 2019, opened up exclusive access to clothing items on its website for 24 hours. Drop #30 in this series will be coupled with an NFT.

According to Prada, the asset’s design will be “decorated with Cassius Hirst’s signature mask and brain scan designs, both symbolizing unity and togetherness.”

Some members of the NFT community have criticized Prada’s NFT endeavors, suggesting that the Adidas for Prada re-source project has delivered relatively low utility value since its release. The asset is currently trading on OpenSea for 0.08 Ether (ETH) and has 2,700 owners.

Eurovision winner Kalush Orchestra raises $900,000 for Ukraine

After the Ukrainian hip-hop group Kalush Orchestra won the hearts of the world in the 66th Eurovision Song Contest in Turin, Italy last month, the band decided to auction off their vibrant pink hat and glass microphone trophy awarded from the global ceremony to raise funds to help out amid the Ukrainian conflict.

An NFT depiction of the microphone will be presented to the highest bidder, which turned out to be European cryptocurrency exchange WhiteBIT, with a highly generous entry of 50 ETH, equivalent to $900,000.

All funds raised from both the fiat and NFT auctions will be donated to the Serhiy Prytula Foundation, led by Ukrainian TV presenter and actor Serhiy Prytula.

“You guys are amazing. We appreciate each and every one of you who donated to this auction and a special thanks to the team WhiteBit who purchased the trophy for $900,000 and are now the rightful owners of our trophy,” said the band on Facebook.

P2E adoption soaring across India and Hong Kong

In a recent report released by market research firm Finder on the geographical proportion of NFT gamers, India and Hong Kong are respectively identified as the leading countries out of 26 surveyed for their interaction with play-to-earn games.

Axie Infinity, The Sandbox, Decentraland and, more recently, Solana-based StepN have all permeated the cultural landscape in developing regions to provide gaming fanatics with a novel, arguably more interconnected, medium of play.

Related: Web3 gaming in the third world: Axie facilitating billions

With 28.7% of the survey’s total respondents disclosing their previous experience with NFT games, the Indian and Hong Kong representation surpassed the average, with 33.8% and 28.7%, respectively, while the United States came in at 9.4%.

A little more nifty...

Leading NFT fashion brand RTFKT Studios announced the winners of its metaverse pod challenge this week after narrowing down a top 10 list from thousands of submissions.

The avant-garde landscapes and immersive architectural designs afforded viewers a glimpse into the future of metaverse worlds. Each winning loot pod will be made available on the creator marketplace toward the end of the year.

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