Web3, May 23: eBay, GameStop, and Pharrell Williams

Ebay taps into Web3 with NFT collection 

An e-commerce giant eBay is releasing a collection of 13 “limited-edition” digital collectibles, containing 299 NFTs, in partnership with a Canadian hockey legend, Wayne Gretzky. Each collectible depicts a 3D animated rendering of Gretzky making one of his famous moves on the ice. 

                                                                      Image: eBay

“I’m honored to bring this collectible experience to my hockey fans who have followed my career for decades,” the hockey star commented on the partnership.

NFT is “priced for the everyday fan,” according to eBay; the minimum price starts at $10.

GameStop releases an NFT and crypto wallet

GameStop, a video game platform, has announced a launch of a digital asset wallet. The “self-custodial” Ethereum wallet will provide an opportunity to send, receive and store non-fungible tokens and cryptocurrencies. The company also added that with a downloadable extension, the users will be able to make transactions on an upcoming NFT marketplace, which is scheduled to launch in Q2.

Pharrell Williams truly believes in the power of Web3 

A 13-time Grammy Award winner, Pharrell Williams, sees Web3 as something that “is scaring the system” and appears to be truly enthusiastic about the new internet potential.

Speaking at the VeeCon NFT conference organized and hosted by an entrepreneur and social media influencer Gare Vee on Saturday, Williams shared his experience and thoughts about Web3. 

The musician and fashion designer himself has been involved with several Web3 projects, including the Gallery of Digital Assets, “a safe space for traditional artists who’ve done really well to have a place where they can transition into the digital world,” and Black Ambition, a non-profit organization helping Black and Latinx entrepreneurs involved in many industries, including Web3. 

Williams also underlined the possibilities for artists to receive royalties from NFTs sales as one more advantage of the technology, along with opportunities like disintermediating traditional music labels, studios and distribution platforms, Decrypt reported.

But, besides the creative potential Web3, NFTs and DAOs have, the performer believes they have much more to offer: “Blockchain and Web3 — it’s unlocking something that is scaring the system. They are working really hard to put laws together to try to legislate around your concept, your idea. You all are the most powerful human beings on this planet. You don’t know it yet.”

The Market Minute 

The crypto market has been, if you can call it, “stable” over the past 24 hours, gaining only 1% in total market cap. The top five cryptocurrencies rose by 1-5%. 

ETH, a cryptocurrency behind Ethereum, the most popular blockchain for NFT, has gone up to 2% and is trading at $1,986 at press time. SOL, a crypto asset representing one more popular NFT blockchain, Solana, has lost 1.96%, trading at $50.26.

In other headlines

French luxury brand Balenciaga to accept Bitcoin, Ethereum as payment – Decrypt

IMF, Bank of France officials believe more CBCDs will emerge in next three to five years – The Block

Bear markets are for building the metaverse – Decrypt

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