Web3 news, July 13: From Shanghai to The Price Is Right – everyone wants a piece of NFTs

NFTs seem to be doing just fine during this unstable time in the crypto industry. According to Nansen’s NFT Indexes Report, first-time buyers keep coming into the market, with around 5,000 new users since March this year. 

The highest performing NFT ETH indexes in June included Metaverse-20, Blue Chip-10, and Social-100. 

Shanghai will implement metaverse, NFTs, and blockchain in digital economy in 5 years

Shanghai’s Municipal Government published a “14th Five-Year Plan for the Development of Shanghai’s Digital Economy” draft on July 13, where it outlined the development plans of the city’s digital economy for the next five years.

The primary goal of the plan (and its further implementation) is to promote “the deep integration of digital technology and the real economy.” The agenda includes research and promotion of “the digitization of NFT and other assets,” the development and application of “blockchain+” and the blockchain development ecosystem.

As for the web3 and metaverse applications, the government aims to look into multi-platform OpenID, end-to-end encrypted communication technology, the sixth-generation wireless network technology (Wi-Fi6), a decentralized domain name resolution system (DNS), as well as research and implementation of different ways the virtual and real worlds can interact. 

CryptoPunk worth over $2.7 million is sold amid crypto winter

CryptoPunk #4464, featuring a CryptoPunk with an eye mask and a vape pen, was sold for over 2,500, which accounts for over $2.7 million at press time.

          CryptoPunk #4464

According to CryptoSlam, this sale that took place on June 12 has been the biggest NFT sale over the past 30 days.  

The most expensive CryptoPunks now include CryptoPunk #4464, CryptoPunk #4156, which was sold for 2,500 ETH in December 2021 (valued at $10.25 million at the time), and CryptoPunk #5577, purchased for the same amount – 2500 ETH – but valued at i$7.7 million this February. 

The Price Is Right launches NFT collection to celebrate its 50th anniversary 

A television show running from 1972, The Price Is Right, is celebrating its 50th anniversary and launching a collection of non-fungible tokens (NFTs), with the first patch called  ‘Cliff Hangers’ becoming available on July 15.

“For fifty seasons, The Price is Right has produced a range of iconic pricing games that American audiences have come to know and love. 2Now, with Theta-powered NFTs, fans of the show will have the chance to own a piece of television history and take part in exciting challenges,” one of the show’s producers, Angela Hueber, said.

Cliff Hangers’ theme will be the legendary pricing game of the show, and the collection holders will be eligible for a rare replica of Plinko chip NFT. 

In its first, UK court approves serving court papers through NFTs

The High Court of England and Wales has approved serving legal papers through NFTs in a case involving the founder of Italy-based online gambling company Microgame, Fabrizio D’Aloia.

D’Aloia accused crypto exchanges Binance, OKX, Gate.io, Poloniex, and Bitkub of letting ‘persons unknown’ steal his wallets. And since the parties involved are anonymous, these NFTs will allow reaching the accused through blockchain, sending the non-fungible tokens to the two wallets previously owned by D’Aloia.

Joanna Bailey, a lawyer from Giambrone & Partners LLP, who assisted with the case, calls this decision important “because it shows the court’s willingness to adapt to new technologies and embrace the blockchain and actually step in to help consumers where previous legislation and regulators simply could not do that” in an interview with CoinDesk. 

Important reads

Meet the women looking to make the metaverse more inclusive – by BlockWorks

Polygon Is the only blockchain on Disney Accelerator – by NFTEvening

Animoca Brands ups valuation to US$5.9B despite slumping markets – by Forkast

Meet the digital designer behind Burberry’s new Roblox handbags – by The Block


More posts


NFTs need a rebranding—and a decoupling

On MSNBC’s “Morning Joe,” branding expert Donny Deutsch gives NFTs a “brand down” assessment. Here’s why NFTs need a rebrand and a decoupling from cryptocurrencies.


What makes a work of art transformative?

What makes a work of art transformative and considered fair use under US copyright law? IP attorney Lance Koonce lays out the four factors that constitute fair use under copyright law precedents.



Leave a Reply

Your email address will not be published. Required fields are marked *

Share This