NFT
Blue chip nonfungible token (NFT) project Pudgy Penguins has signed an agency agreement with major Hollywood talent agency William Morris Endeavor (WME).
According to an announcement via Twitter on May 5, Pudgy Penguins wants to distribute its intellectual property across film, TV and gaming.
We are proud to announce that @WME will be representing us as our official talent agency.
Together with WME’s relationships in film, TV and gaming, we will focus on strategic partnerships that help Pudgy Penguins reach new audiences. pic.twitter.com/TtbkLexxAV
— Chubby Penguins (@pudgypenguins) May 5, 2023
Pudgy Penguins joins a growing list of major NFT projects that have sought Hollywood representation deals as a way to expand their brands and audiences. WME’s other NFT-related clients include Mack Flavelle, co-founder of Dapper Labs, the Boss Beauties project, pseudonymous NFT artist FEWOCiOUS, and artist Claire Silver.
Pudgy Penguins is the twenty-first best-selling NFT project of all time, according to data from CryptoSlam. Since its launch in July 2021, it has generated a total of $250.2 million in sales in secondary markets.
Last month, the project was acquired by Luca Netz of Netz Capital for 750 Ether (ETH), worth approximately $2.5 million at the time of purchase on April 3. Pudgy Penguins has gradually developed a Web3 ecosystem and community around the project and has already taken some steps to bring the IP into the mainstream.
In late March, the project launched physical Pudgy Penguin figurines that come with certificates of authenticity and proof of ownership recorded on Ethereum.
Soft launched in a number of specialty retail chains internationally this week. Slowly and then suddenly. Pudgy season is coming… https://t.co/hMbUnscxzo
— Luca Netz (@LucaNetz) March 31, 2023
Bitblox to build Web3 slot games
A new blockchain gaming studio called Bitblox has launched to build a suite of Web3 slot games on the Solana-based Hxro network, a distributed liquidity layer for derivatives and betting trading.
The online gambling industry, or igaming, was worth about $63.5 billion in 2022 and is estimated to grow at an annual rate of 11.7% between 2023 and 2030, according to Grand View Research.
In a May 4 announcement, Bitblox Games stated that it will focus on developing player-to-player (P2P) games built around skill and speed, where players bet against each other as opposed to the “house” like Casino or bookmaker in regular gambling.
“Blockchain-based gaming provides additional transparency for igaming operators while empowering players to wager in new and exciting ways,” said Brandt Page, CEO of Bitblox.
OG swords Crypto swords
Bitblox Games has launched a studio to bring crypto gaming to the $67.9 billion online gambling industry, with all games built exclusively on Hxro Network’s core protocols.
Welcome to #HxroNation ✖️✖️
More info: https://t.co/ylM0hvlHeB pic.twitter.com/xVQ2SI3pmh
— Hxro (✖️,✖️) (@HxroNetwork) May 4, 2023
Specific games have yet to be announced, but more information is likely to come later this month, as Bitblox will debut at CasinoBeats Summit 2023 in Malta between May 23 and May 25.
Generative art via Unreal Engine
NFT infrastructure and ecosystem developer Palm NFT Studio, through Epic Games’ Unreal Engine, has launched a new tool that enables creators to create generative “game-ready” 3D assets and art collections.
Called the “Palm Generative Art Maker”, the tool provides a simplified process for people to create generative art and assets, something that is usually quite complicated for creators who are not well versed in coding.
The end of one world, the beginning of another ❍ charting the contours of post-AI generative art.
→ https://t.co/aJr7Wg746l pic.twitter.com/HR71VpUKTA
— Palm NFT Studio (@PalmNft) May 5, 2023
The tool launched on May 4 and is available for download as an Unreal Engine plugin.
Palm generative art maker. Source: Unreal Engine
It allows users to develop a concept in the plugin and then transfer the assets to Unreal Engine 5.1 to refine and add finishing details. From there, they can store the assets on the blockchain as NFTs.
Interest in generative art has exploded in recent years along with the growth of the NFT sector, with profile picture/avatar based projects such as CryptoPunks helping to popularize the method. While NFT art projects such as Tyler Hobb’s Fidenza have also sparked interest in the computer-based art style.
Digital Star Wars toys on Flow
NFT start-up Cryptoys has revealed the upcoming launch of Star Wars digital collectibles on the Flow blockchain, home to major NFT projects like NBA Top Shot.
The NFT collectibles, or “digital toys,” will be released May 24, with the design having a similar design to Funko Pop figurines. Each token costs $39.99 each in a randomized “blind box”, with the purchaser not knowing which character they received until after purchase.
The NFTs will feature characters such as Darth Vader, Luke Skywalker, and Princess Leia, and will come in a variety of rarity levels ranging from common to rare, legendary, “Grail” and “Ultra Grail.”
new pfp, who’s there? #StarWarsDay pic.twitter.com/AzDrB2clp1
— Cryptoys ⚡️ (@Cryptoys) May 4, 2023
Other useful news
Kenyan lawmakers are considering introducing a 3% tax on crypto and NFT transfers and a 15% tax on online monetized content, according to a new bill introduced on May 4.
The former OpenSea executive charged with NFT insider trading was convicted May 3 of wire fraud and money laundering in a New York federal court.