The NFT market continues to face low sentiment as sales volumes have dropped 29% in the last 30 days, and mainstream media is reporting NFTs as “worthless.” Covered by The Guardian, Cointelegraph, Yahoo, The Hindu Times, and more, a recent study conducted by dappGambl, which analyzed data from NFT Scan and CoinMarketCap, found that 95% of NFT collections, equivalent to 23 million individuals, hold NFTs with no market value – as 69,795 out of 73,257 collections have a market cap of 0 Ether.
In the past two years, we have seen a rise in NFT and Metaverse projects within the Web3 space. With that, mainstream adoption from big Web2 fashion, tech, and consumer brands has taken an interest in how they can enter the metaverse or start their own NFT collection. Globally known brands like Dolce&Gabanna, Nike, Diesel, Porsche, and so forth have all entered the Web3 ecosystem already. To dive deeper into this topic, we spoke to - Shashi Menon, CEO & Co-founder of UNXD; Travis Wu, Co-founder & CEO of Highstreet; and Bartek Sibiga, Co-founder & CEO of Fancy Bears, on Brand Collaborations in the NFT and Metaverse Space.
For everyone who missed the Live Twitter Spaces on Thursday, April 6th, we have summarized the top 5 key takeaways from the session. You can also listen to the entire live recording in the link below.
Morningstar Venture’s portfolio company, Humans.ai, is a leading blockchain and AI solutions provider. By leveraging the power of both technologies, Humans.ai is creating an ecosystem where artificial intelligence is scaled and governed within an ethical and transparent framework.