International NFT Day Roundup — dot.LA

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The first Inter­na­tion­al NFT Day is cel­e­brat­ing the dig­i­tal assets sweep­ing the Internet. 

The day is meant to high­light the non­fun­gi­ble tokens that have quick­ly gained pop­u­lar­i­ty by bring­ing togeth­er com­pa­nies like a16z, Dap­per Labs and Meta­verse HQ, among many oth­ers. The cel­e­bra­tion comes amid the lat­est cryp­to crash, per­haps putting a slight damper on things. Still, celebri­ties like Snoop Dogg are observ­ing the occasion. 

From celebri­ty col­lec­tion drops to local star­tups, here’s a roundup of all things NFT.


Investing

Enter­ing the NFT space can be daunt­ing. Scams abound—Tita­ni­um Blockchain CEO Michael Alan Stollery recent­ly pled guilty in a cryp­to fraud case—and even celebri­ties like Seth Green aren’t immune to phish­ing. Here’s dot.LA’s guide to safe­ly invest­ing in NFTs. The key take­aways: do your research and be a bit paranoid. 

Ear­li­er this month, the Cal­i­for­nia Assem­bly passed a bill that would require cryp­to com­pa­nies to have licens­es. If Gov. Gavin New­som signs the bill, it could help reg­u­late the space. 

LA Is The Epi­cen­ter of The Lat­est Cryp­to Invest­ing Craze: Cryp­to IRAs
Pho­to by Vik­tor For­gacs on Unsplash

Creatives Go Crypto

Hol­ly­wood has gone big on cryp­to. Tal­ent agency UTA has signed a num­ber of NFT col­lec­tions and cre­ators to its tal­ent ros­ter. A num­ber of NFTfilms offer view­ers exclu­sive access to behind the scenes con­tent and con­trol over the characters. 

Mean­while, Bored Apes—of Bored Ape Yacht Club fame—are pop­ping up in movies, TV shows and books. Bored Apes recent­ly appeared in “The R3al Meta­verse,” an ani­mat­ed series that brings togeth­er a num­ber of NFT char­ac­ters. The pop­u­lar ani­mat­ed fig­ure has also made its way to Cameo, where peo­ple can buy videos of the 3D ape in action. 

Paris HiltonParis Hilton at the 2022 Upfront Sum­mit in Down­town Los Angeles.
Image cour­tesy of the Upfront Summit

Celebri­ties are also bet­ting on cryp­to. But Paris Hilton dub­bing her­self the “cryp­to queen” doesn’t mean she always fol­lows the rules. The socialite was one of many celebri­ties to receive a let­ter from con­sumer watch­dog group Truth in Adver­tis­ing (TINA). Fig­ures rang­ing from Justin Bieber to Gwyneth Pal­trow were called out for not dis­clos­ing finan­cial con­nec­tions to the NFT col­lec­tions they were promoting. 

Intel­lec­tu­al prop­er­ty laws are also a point of con­tention with NFTs. Mira­max recent­ly set­tled its law­suit against film­mak­er Quentin Taran­ti­no over his “Pulp Fic­tion” NFTs—however, plen­ty of IP-based NFT law­suits are still up in the air. 

NFTs in LA

Across Los Ange­les, a num­ber of star­tups are rid­ing the NFT wave. 

NFL leg­end Tom Brady launched his NFT agency, Auto­graph, in 2021. The San­ta Mon­i­ca-based com­pa­ny raised $170 mil­lion ear­li­er this year. Celebri­ties like Tiger Woods and Nao­mi Osa­ka have used the plat­form for their own NFT drops. Brady is cap­i­tal­iz­ing on fans’ appar­ent affin­i­ty for col­lectibles; most “avid sports fans” are inter­est­ed in NFTs, accord­ing to a sur­vey from Nation­al Research Group. 

A num­ber of LA star­tups are try­ing to make NFTs social. Ter­raZe­ro sells dig­i­tal land as NFTs for a vir­tu­al bar, while Jadu recent­ly launched NFT avatars for its gam­ing plat­form. For those look­ing to make the dig­i­tal phys­i­cal, Long Beach’s NFT-themed restau­rant accepts cryp­to payments. 

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