Web3 news of the day: May 4, 2022

It’s another Wednesday in the NFT world and here are the most interesting stories of today.

Elon Musk puts Bored Apes ‘fungible’ NFT collage as a Twitter profile pic

A billionaire, Tesla founder and meme enthusiast Elon Musk has changed his profile to an NFT collage of the popular series of NFT Bored Ape Yacht Club. Despite the fact that NFTs stand for nonfungible tokens and are unique in their nature, Musk appeared to have mocked it, calling them “kinda fungible.”

Image: Screenshot of Elon Musk’s Twitter
                                                   Image: Screenshot of Elon Musk’s Twitter

The collage belongs to Michael Bouhanna, a VP and co-head of digital art at an auction house Sotheby’s, who asked the SpaceX founder to remove it or, at least, credit them. They also offered to send an original to the SpaceX founder.

Starbucks plans to create a Web 3.0 community using NFTs

An international coffee chain has announced it aims to build a “digital Third Place – a place between home and work,” and it’s going to use blockchain technology to do it.

“Web3 refers to many things in the blockchain space, but the particular technology that has captured our imagination is NFTs (nonfungible tokens),” the company’s press release says.

Starbucks will be releasing a series of branded NFTs that will grant access to community membership, perks and exclusive experiences.

Andy Warhol’s Alexander The Great NFT is up for grabs

The very first NFT of the famous American artist and film director Andy Warhol has become available for sale. The buyer will receive a digital version, along with the physical one, which currently belongs to Aris Sarlis.  

                                           Image: Screenshot of Andy Warhol’s NFT

Andy Warhol’s fans previously had a chance to acquire fractionalized NFTs of three of his pieces at Art Basel Miami in December 2021.

Soccer league launches NFTs collection to support Ukraine 

A British soccer club Leeds United has released an NFT collection called Shirts for Ukraine to raise money for the Ukraine Humanitarian Appeal. 

The collection features “no war” shirts that the team wore before the match with Manchester City.

                                                                   Image: MakersPlace

The buyers of the NFTs will get two tickets for the upcoming Leeds v Brighton match, a pitchside tour with LUFC players and an opportunity to visit one of the team’s training sessions.

Pepsi to release ‘Strength of a woman’ NFT art 

Pepsi is partnering with one of the most influential NFT artists for its upcoming NFT collection.

                                                                           Image: Pepsi

The list of artists includes surreal art graphic designer Shaylin Wallace, the creator of ‘It’s Because You’re Pretty NFT collection’ Amber Vittoria, Remarkable Women NFT’s Rachel Winter and the artist behind the Flower Girls NFT collection, Varvara Alay.

The collection will be released at  Mary J. Blige’s Strength of a Woman Festival & Summit in Atlanta, hosted on May 6-7. The food and beverage giant is using a proof-of-attendance protocol (PoAP), which means that only the attendees of the event will have access to buy the NFTs.


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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.



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