Web3 news, June 15: An outlook on not so grim NFT market

I have to be honest with you –– the markets do look tough right now. With major cryptocurrencies losing more than 30% in price and the biggest crypto companies like Coinbase and BlockFi laying off up to 18% of their employees, it’s getting more and more complicated not to get worried. But there is good news, too. 

Justin Sun, the founder of multiple Tron-based projects like Poloniex, BitTorrent, TronDAO, has announced that his companies are hiring during this market meltdown.

Binance, the world’s biggest crypto exchange, is also using the current conditions to hire talent. According to Fortune, the exchange’s founder and CEO, Changpeng Zhao, said the company is “expanding hiring right now.”

“We have a very healthy war chest; we, in fact, are expanding hiring right now. If we are in a crypto winter, we will leverage that; we will use that to the max,” Zhao said.

And to reassure you that things really are not so bad, check CryptoSlam! to see the trading volume of NFTs, some of which are up as much as 4,298,449.48%.

Amberfi’s co-founder and CEO, JD Lasica, reminds us about the importance of the long-term view during times like this to avoid rush decisions.

“We take a long view of the Web3 space. For those who’ve suffered steep losses — including some of our team members — this is the painful downside of the wild ride we call crypto.

But the companies and creators we’ve been working with all continue to believe in the long-term promise of Web3. And we’ll be taking this time to make sure we’re creating products and experiences that appeal to hundreds of millions of users who will become enraptured by blockchain and NFTs in the years ahead. Rest assured, this new world we’re building isn’t going away.”

And at last, our own Haley Cromer put it best: “Did I hear “crash?” More like a semi-annual sale! It’s like the Black Friday of NFTs.”

Now, to the news.

Fashion brands seem to be amongst the ones who are stepping up in their efforts in the Web3 space despite the market we’re at right now.

French fashion brand Lacoste launches NFT project and collection 

Lacoste, a French fashion brand, is launching an NFT collection as a new way to engage with their customers. The collection consists of 11,212 items, which will be sold for 0.08 ETH, correlating with the name of the brand’s iconic polo L1212. 

The entire NFT project is called UNDW3 (“underwater”), and it will give collectors the opportunity to “access a pioneering ecosystem and digital, physical, and experiential benefits in the world of the crocodile, such as co-created products exclusively for them, of the NFTs access to a “long-term collaborative community,” Lacoste said in a press release.

Lacoste seems to also be embracing the metaverse and virtual reality technologies as “the future,” hinting at other technology-based projects.


Balmain sees NFTs as ‘Powerful Tool’ For Luxury Fashion Brands

After a recent announcement of creating a digital ecosystem Balman’s CMO,Txampi Diz,  took part at a Vogue Business and eBay Technology Forum, which, surprisingly, chose Web3 as its event theme, and shared his thoughts on 

“To us, Web3 is like social media 10 years ago or e-commerce 20 years ago,” Diz said. “We need to build our own space in Web3, and we need to test which experiments make sense for us as a luxury house. This has to be part of the global marketing strategy for every brand.”

Balman’s CMO also said that, in his mind, luxury brands have now become media and “for us, NFTs are an interesting and powerful tool.”

Swiss watchmaker AG Heuer releases NFT support feature 

TAG Heuer, Swiss luxury watchmaker, has released a feature that allows it to display NFT collections.

The watchmaker is “taking another bold step into the world of Web3. We’re introducing an NFT viewer for customers to showcase their digital asset collection, with verified proof of ownership, on their TAG Heuer Connected watch.” 

The newly launched feature lets watch owners transfer multiple NFTs to the new Lens watch face via a paired smartphone. There will be several ways of displaying time while displaying NFTs: “a conceptual design with a triangle and a circle representing hours and minutes.” Customers will also be able to connect to various crypto wallets, including Metamask or Ledger Live.

In other headlines from the worlds of blockchain, crypto, and Web3

MicroStrategy’s Michael Saylor say he would consider buying more Bitcoin – CNBC

Meta To Run Metaverse Experiences in Hong Kong Cafes, Schools, and Art Institutions – be[in]crypto

UK Minister Wants Nation to Be a Crypto Hub – Bloomberg

Experts recommend these 27 books to anyone who wants to become a smarter investor and better understand digital currencies – Business Insider

Web3 tech advisory firm ScienceMagic.Studios raises $10 million pre-seed – The Block

Image: Choong Deng Xiang via Unsplash

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