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<ul class="summary-list"><li><keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">Crypto</keyword> exchange <keyword id="11896045" type="UNKNOWN" weightage="60" keywordseo="binance" source="Orion">Binance</keyword> said it will collaborate on <keyword id="11902216" type="UNKNOWN" weightage="60" keywordseo="blockchain" source="Orion">blockchain</keyword> projects with South Korea's YG Entertainment. </li><li>Binance said NFTs will be created under an eco-friendly system, a move addressing environmental concerns. </li><li>YG's artists include the popular <keyword id="12048096" type="UNKNOWN" weightage="60" keywordseo="k-pop" source="Orion">K-Pop</keyword> groups <keyword id="13131456" type="UNKNOWN" weightage="60" keywordseo="blackpink" source="Orion">Blackpink</keyword> and Big Bang. </li></ul>Binance, the world's largest cryptocurrency exchange, will collaborate on blockchain projects with YG Entertainment, the South Korean K-Pop record label behind Blackpink, Big Bang, and other popular artists, the company said late Monday. The strategic partnership will include non-fungible tokens, or NFTs, which Binance said will be developed with sustainability in mind, a move that <a href="https://www.businessinsider.com/personal-finance/proof-of-stake-vs-proof-of-work">underscores environmental concerns</a> usually associated with <keyword id="12068706" type="UNKNOWN" weightage="60" keywordseo="digital-assets" source="Orion">digital assets</keyword>."Binance will be working closely with YG to create an eco-friendly ecosystem for NFTs. YG is a global entertainment corporation with global influence, and we believe that it is important to promote the use of sustainable blockchain platforms," <a href="https://www.prnewswire.com/news-releases/binance-announces-strategic-partnership-with-yg-entertainment-301476580.html">Binance said in a statement</a> outlining its memorandum of understanding with YG. Financial details of the partnership were not included. Binance will provide the <keyword id="11919795" type="UNKNOWN" weightage="60" keywordseo="nft" source="Orion">NFT</keyword> platform and technology infrastructure and YG — whose groups also include iKON, Treasure and Winner — will supply NFT content and gaming assets, with YG working to extend its growth in the NFT market. The Binance NFT platform uses the PoSA, or Proof of Staked Authority, network, which Binance said is a consensus agreement protocol that is more eco-friendly and energy-efficient than <a href="https://markets.businessinsider.com/currencies/btc-usd">bitcoin</a>. "Creating NFTs in an eco-friendly way is one of the considerations that Binance and YG emphasize during the collaboration," said Binance. Grammy-nominated K-Pop boy band BTS in December moved ahead with plans to <a href="https://markets.businessinsider.com/news/currencies/bts-nft-crypto-kpop-after-agency-signs-deal-korea-exchange-2021-11?utm_medium=ingest&amp;utm_source=markets">produce NFTs </a>despite immense public backlash because of environmental concerns. "We believe NFTs have the potential for expansion and hope they will provide fans with more varied experiences and opportunities to express themselves," John Kim, project lead of HybeAmerica that oversees the NFT business, <a href="https://markets.businessinsider.com/news/currencies/bts-nft-crypto-photocard-hybe-dunamu-backlash-non-fungible-token-2021-12">told The Wall Street Journal. </a>Binance and YG also plan to develop Binance Smart Chain-based games, build metaverse assets, and "actively pursue" various digital asset opportunities. YG has "immense potential" to develop digital assets using their intellectual property rights, said the statement. Blackpink and BTS are part of the so-called Korean Wave of mega-growth in the popularity of Korean entertainment and culture. Blackpink's "How You Like That" dance video this week <a href="https://www.youtube.com/watch?v=32si5cfrCNc&amp;t=11s">surpassed 1 billion views on YouTube</a>, according to <a href="https://www.billboard.com/music/pop/blackpink-how-you-like-that-1-billion-youtube-views-1235027946/">Billboard</a>, the sixth Blackpink video to reach that high mark.

Binance and the record label behind K-Pop sensation Blackpink will work on creating eco-friendly NFTs

<ul class="summary-list"><li><keyword id="11911241" type="UNKNOWN" weightage="60" keywordseo="amc" source="Orion">AMC</keyword> and <keyword id="11933011" type="UNKNOWN" weightage="60" keywordseo="sony-pictures" source="Orion">Sony Pictures</keyword> are offering 86,000 NFTs to early buyers of the latest Spider-Man film.</li><li>The offering caused online ticket sales "to soar to the highest ever," AMC CEO <keyword id="12055581" type="UNKNOWN" weightage="60" keywordseo="adam-aron" source="Orion">Adam Aron</keyword> said.</li></ul><a href="https://markets.businessinsider.com/stocks/amc-stock">AMC</a> is offering thousands of NFTs in conjunction with early movie-ticket sales of the latest Spider-Man movie.The movie theater chain and Sony Pictures teamed up to offer up to 86,000 non-fungible tokens, aka NFTs, to <keyword id="11948148" type="UNKNOWN" weightage="60" keywordseo="retail-investors" source="Orion">retail investors</keyword> and rewards members who pre-order tickets to the December 16 premiere of "Spider-Man: No Way Home," the company said <a href="https://investor.amctheatres.com/newsroom/news-details/2021/Members-of-AMC-Stubs-and-Investor-Connect-to-Receive-an-Exclusive-SPIDER-MAN-NFT-with-an-Advance-Ticket-Purchase-for-Opening-Day-of-Sony-Pictures-SPIDER-MAN-NO-WAY-HOME-at-All-AMC-Theatres-U.S.-Locations-While-Supplies-Last/default.aspx">in a Sunday press release</a>.Only AMC Investor Connect, the <a href="https://markets.businessinsider.com/news/stocks/amc-launches-program-to-communicate-with-day-traders-2021-6">rewards program for retail investors</a>, and AMC Stubs Premiere &amp; A-List members are eligible for one of the thousands of <keyword id="11919795" type="UNKNOWN" weightage="60" keywordseo="nft" source="Orion">NFT</keyword>s, which come in 100 different designs, the press release said. AMC will deliver instructions to retrieve the NFT via email on December 22, and it must be redeemed by March 1, 2022.In a Sunday tweet, AMC Chief Executive Officer Adam Aron wrote, "They'll go quick!" In the upcoming film, <a href="https://www.insider.com/spider-man-no-way-home-new-trailer-video-2021-11">a trailer revealed</a> Spider-Man will face popular enemies like Doc Ock, Green Goblin, and Electro. Spider-Man, played by <keyword id="11932133" type="UNKNOWN" weightage="60" keywordseo="tom-holland" source="Orion">Tom Holland</keyword>, is joined in the cast by Zendaya and Benedict Cumberbatch, among others. On Monday, <a href="https://twitter.com/CEOAdam/status/1465257591794282501">Aron said</a>, "Our <a href="https://twitter.com/hashtag/AMCFirstEverNFT?src=hashtag_click">#AMCFirstEverNFT</a> with <a href="https://twitter.com/SonyPictures">@SonyPictures</a> and Spider-Man: No Way Home caused AMC's online ticketing traffic Sunday night/Monday morning to soar, to the highest ever in AMC's entire history. Oh did we sell tickets! But we are sorry wait times got long with the unprecedented volumes."Aron has <a href="https://markets.businessinsider.com/news/stocks/how-amc-ceo-adam-aron-embraced-the-company-meme-status-2021-6">become a leader</a> among the retail investing community. He's capitalized on interest from retail traders — who have driven his stock price up <a href="https://www.businessinsider.com/2021-thanksgiving-day-craziest-market-stories-meme-stocks-nfts-crypto-2021-11">more than 1,700%</a> since the beginning of the year — through tweets and perks like free popcorn. And now he's doing it through NFTs, which are digital pieces of art tied to the blockchain. The digital tokens along with blockchain technology have been criticized for harming the environment, but AMC said its offering is "eco-friendly." The press release said, "The Spider-Man NFT will be available to be redeemed at a dedicated site operated by WAX, an energy efficient, ultra-low carbon footprint blockchain and the first certified carbon neutral."

AMC is offering 86,000 NFTs to retail investors and movie theater rewards members who preorder Spider-Man tickets

<ul class="summary-list"><li>The <keyword id="4668945" type="PERSON" weightage="60" keywordseo="nft">NFT</keyword> of a "<keyword id="11423341" type="UNKNOWN" weightage="60" keywordseo="cryptopunk">CryptoPunk</keyword>" character fetched $11.8 million, setting a new world auction record for a single CryptoPunk.</li><li>The token, dubbed "Covid Alien," was bought by Shalom Meckenzie, the largest shareholder of DraftKings.</li><li>The sought-after token is one of the nine alien CryptoPunks made by Larva Labs in 2017.</li></ul>The non-fungible token of a character from the "CryptoPunk" series fetched <a href="https://www.businessinsider.com/reviews/out?u=https%3A%2F%2Fwww.sothebys.com%2Fen%2Fbuy%2Fauction%2F2021%2Fnatively-digital-cryptopunk-7523%2Fcryptopunk-7523">$11.8 million Thursday</a>, setting a new world auction record for a single CryptoPunk, luxury auction house <keyword id="165441" type="COMPANY" weightage="60" keywordseo="Sothebys">Sotheby's</keyword> said. The NFT, dubbed "Covid Alien," was bought by Shalom Meckenzie, the largest shareholder of online sports gambling firm DraftKings. The sought-after <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite" id="docs-internal-guid-4ee5bbf0-7fff-3320-0c19-a2f4bc133ef8">token</a> called "CryptoPunk #7523" is one of the nine alien CryptoPunks made by artists Matt Hall and John Watkinson, the founders of Larva Labs, in 2017. It is the only one with a mask. Before the sale, a collector known as Sillytuna owned the token. In total, there are 10,000 24 x 24-pixel CryptoPunks with no two that are exactly alike. Other characters in the collection are composed of 24 apes, 88 zombies, 3,840 females, and 6,039 males. The NFTs were initially released for <a href="https://www.larvalabs.com/cryptopunks">free</a> besides a small transaction fee but the record-breaking amount seen from Covid Alien indicates the massive interest investors have. Following the sale, the auction house <a href="https://www.businessinsider.com/reviews/out?u=https%3A%2F%2Fwww.sothebys.com%2Fen%2Fpress%2Fpunks-on-paper%3Flocale%3Den">announced</a> it will offer five "exceptionally rare" CryptoPunks later in June. <div type="image" title="download" height="708" width="1416" msid="83416739" hostid="261"></div> NFTs have <a href="https://markets.businessinsider.com/news/stocks/nfts-majority-americans-surveyed-digital-art-more-than-a-fad-2021-4-1030272455?utm_source=markets&amp;utm_medium=ingestgest" target="_blank">soared in popularity</a><a href="https://www.businessinsider.com/non-fungible-tokens-nfts-have-taken-over-heres-why-theyre-important-2021-4?utm_source=markets&amp;utm_medium=ingestgest" target="_blank"> this year</a>. The market thus far has seen immense growth and buyers now vastly exceed sellers, according to a report from L'Atelier BNP Paribas. These tokens are <a href="https://www.businessinsider.com/non-fungible-tokens-nfts-have-taken-over-heres-why-theyre-important-2021-4?utm_source=markets&amp;utm_medium=ingestgest" target="_blank">digital representations of artwork, sports cards, or other collectibles </a>tied to a blockchain, typically on ethereum. Each NFT has a signature that can be verified in the public ledger and cannot be duplicated nor edited. When people buy <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite" id="docs-internal-guid-946183ab-7fff-7270-0449-a3e4ea0b7609">NFTs</a>, they gain the rights to the <a href="https://www.businessinsider.com/why-are-people-buying-nfts-investing-in-nft-crypto-art-2021-3?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestedium=ingest" target="_blank">unique token</a> on the blockchain, not the artworks themselves. But the fact that the information on a blockchain is next to impossible to alter makes NFTs appealing, especially to artists. Many have speculated the space is <a href="https://www.businessinsider.com/is-nft-market-bubble-crypto-art-sales-popular-prices-plunge-2021-4?utm_source=markets&amp;utm_medium=ingestgest" target="_blank">in a bubble,</a> and apart from some massive sales, evidence shows the craze may be cooling for now. The number of <a href="https://www.businessinsider.com/crypto-art-nft-millennial-entrepreneurs-ikonick-disrupting-market-2021-6">NFT sales for June is about half of what they were during March's peak</a>, the industry tracker <a href="https://nonfungible.com/market/history">NonFungible.com</a> showed. <a href="https://forum.businessinsider.in/">For a more in-depth discussion, come on over to Business Insider Cryptosphere</a> — a forum where users can deep dive into all things <keyword id="2721952" type="PERSON" weightage="60" keywordseo="crypto">crypto</keyword>, engage in interesting discussions and stay ahead of the curve. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/investments-in-crypto-hit-17-billion-in-the-first-six-months-of-2021/articleshow/83740327.cms">Investments in crypto hit a new record of $17 billion, but Indian funds are yet to jump on the bandwagon</a> <a href="https://www.businessinsider.in/cryptocurrency/news/indian-cryptocurrency-exchange-wazirx-has-listed-shiba-inu-tokens-for-trading-in-indian-rupees/articleshow/82731429.cms">Chiacoin claims to be an eco-friendly cryptocurrency — here's how it works</a> <a href="https://www.businessinsider.in/cryptocurrency/news/here-is-why-a-ban-on-cryptocurrencies-may-not-be-even-possible/articleshow/82741310.cms">Is a ban on cryptocurrencies even possible?</a> <a href="https://www.businessinsider.in/cryptocurrency/news/latin-america-and-south-asia-show-two-ends-of-the-crypto-regulatory-spectrum/articleshow/83638437.cms">Even as Latin America embraces Bitcoin, Southeast Asia is clamping down on cryptocurrencies</a>

'CryptoPunk' NFT called 'Covid Alien' was bought for $11.8 million by DraftKings' largest shareholder in a Sotheby's auction

<ul class="summary-list"><li><keyword id="164282" type="CITY" weightage="20" keywordseo="Guggenheim">Guggenheim</keyword> cofounder <keyword id="11502701" type="UNKNOWN" weightage="20" keywordseo="todd-morley">Todd Morley</keyword> is building a <keyword id="6355684" type="PERSON" weightage="60" keywordseo="Blockchain">blockchain</keyword> tower in New York.</li><li>The tower's network will boost blockchain-based communication and trading in the city.</li><li>Morley expects it to be New York's tallest building and house the world's biggest NFT museum.</li></ul>Guggenheim co-founder Todd Morley is backing the development of a blockchain network tower in New York, he told <a href="https://www.bloomberg.com/news/articles/2021-05-24/guggenheim-founder-morley-is-backing-a-new-york-blockchain-tower">Bloomberg TV</a> on Monday evening. Morley, the chairman of blockchain project Overline Network, said the tower is designed to improve <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite" id="docs-internal-guid-fea5cac1-7fff-4942-dcc1-3dbc12080267">blockchain</a>-based communication and trading in the city. It will also be New York's tallest building and house the world's <keyword id="11502702" type="UNKNOWN" weightage="20" keywordseo="largest-NFT-museum">largest NFT museum</keyword>, Morley said. "Blockchain, DeFi, decentralized currencies, all these things are a part of financial services already and so communicating is obviously a big part of that...Overline Network has developed a new way to decentralize wireless communication that can be used at a speed that would allow even <keyword id="2721952" type="PERSON" weightage="60" keywordseo="crypto">crypto</keyword> mining," Morley told Bloomberg TV. The tower will give anyone in New York access to wireless trading and especially <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite" id="docs-internal-guid-1dc90deb-7fff-6681-163e-eecd0150e3c4">crypto</a> trading, provide a way to announce and showcase new technological advances, and exhibit a vast collection of NFTs. NFTs, or non-fungible tokens, are digital assets like images, video, or audio that are built on blockchain technology, which makes them unique and non-exchangeable. Often, anyone online can still view the items - but only one person can own them, making them popular among collectors. The project is a joint venture between Morley's Overline and real estate developer JDS Group, and is set to begin by the end of the year. Morley said it would be scalable to other cities. Overline is developing further ways to utilise the tower, Morley said. He believes the development of crypto technology and cryptocurrencies will be "good for humanity" as they democratise investing, which will lead to so-called 'dead capital' being unlocked as new possibilities for access are opened up. Commenting on the current market, he said that its illiquidity is linked to its size, and traders will appreciate the volatility. He has also personally invested in crypto, and prefers ethereum to bitcoin due to its smart contracts. Morley also thinks that crypto and blockchain technologies are spilling into other industries and digitisation is crucial for companies to survive today. "You better have a technology strategy or suddenly something shows up and your Walkman looks like an abacus," he said. "The technologies that began as described as bitcoin are moving rapidly into other parts of the world...It's just that the large-scale deployment of that utility function and access to assets hasn't quite happened. And so we're hoping to be leaders in that sense," he commented on Overline's role in the process. <a href="https://forum.businessinsider.in/">For a more in-depth discussion, come on over to Business Insider Cryptosphere</a> — a forum where users can deep dive into all things crypto, engage in interesting discussions and stay ahead of the curve. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/investments-in-crypto-hit-17-billion-in-the-first-six-months-of-2021/articleshow/83740327.cms">Investments in crypto hit a new record of $17 billion, but Indian funds are yet to jump on the bandwagon</a> <a href="https://www.businessinsider.in/cryptocurrency/news/indian-cryptocurrency-exchange-wazirx-has-listed-shiba-inu-tokens-for-trading-in-indian-rupees/articleshow/82731429.cms">Chiacoin claims to be an eco-friendly cryptocurrency — here's how it works</a> <a href="https://www.businessinsider.in/cryptocurrency/news/here-is-why-a-ban-on-cryptocurrencies-may-not-be-even-possible/articleshow/82741310.cms">Is a ban on cryptocurrencies even possible?</a> <a href="https://www.businessinsider.in/cryptocurrency/news/latin-america-and-south-asia-show-two-ends-of-the-crypto-regulatory-spectrum/articleshow/83638437.cms">Even as Latin America embraces Bitcoin, Southeast Asia is clamping down on cryptocurrencies</a>

Guggenheim's cofounder is building a blockchain tower that will host the world's largest NFT museum

<ul class="summary-list"><li>Miss Teen <keyword id="2721952" type="PERSON" weightage="60" keywordseo="crypto">Crypto</keyword> says Gen Z could push <keyword id="6354947" type="UNKNOWN" weightage="60" keywordseo="bitcoin">bitcoin</keyword> mainstream once they understand and adopt it.</li><li>She began investing in crypto at 16 with her pocket money, after her dad introduced her to bitcoin. </li><li>Digital-native teens could easily dive into NFTs, once they understand the financial side, she said. </li></ul>Miss Teen Crypto, a cryptocurrency influencer who started investing her pocket money into <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite" id="docs-internal-guid-a13e05b9-7fff-39e6-0e15-902b49ed3378">bitcoin</a> when she was 16, told Insider she believes Gen Z could be the catalyst to take crypto and NFTs into the mainstream, if someone would just explain the benefits and how they work. The 18-year-old, who has tens of thousands of followers across the major social-media platforms, believes her digital-native generation could easily understand the digital side of <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite" id="docs-internal-guid-dbae16bf-7fff-594b-8152-46412839e2fb">crypto</a>, but not the financial side - but more education could fix that. "I think that Gen Z - we're a little behind in terms of the financial aspect, but we're not behind in terms of technology," she told Insider in an interview. "We've been on Snapchat since it came out, we've been on the internet our whole lives. So we know the concepts of digital property, we understand how to use this technology," she said. "We just have to be educated on why we should and how we could." Her first investment, at 16, was around $200 saved up from her pocket money and birthday gifts. Her dad had got involved with bitcoin and crypto five years before that, when she was 13 - but at that time, she paid no attention to his passion. "I was just tuning out. I was like, 'This is boring, I don't want to hear about it,'" she said. "But then a few years after, he actually showed me how a bitcoin transaction worked." When the New Yorker saw that bitcoin transactions were easily carried out on her phone, she recognised bitcoin's potential, both in terms of investing and changing the world, she explained. The crypto HODLer - who grew up Randi Hipper but is known by @MissTeenCrypto on Twitter, her podcast and Instagram - has seen others have the same experience when she has talked to them about crypto and bitcoin. Her high-school peers knew as little as her teachers about the assets, and 95% of the people she has talked to at Times Square have never heard of them. Non-fungible tokens, or <a href="https://www.businessinsider.com/non-fungible-tokens-nfts-have-taken-over-heres-why-theyre-important-2021-4">NFTs</a>, are a great way for young people to realise crypto's potential, the influencer believes. These are unique <keyword id="135689" type="PERSON" weightage="60" keywordseo="digital-assets">digital assets</keyword> - such as image, video or audio files - that are built and stored on blockchain technology. As they cannot be duplicated, so they can be Collectable and hold value. The key advantages, she said, are that anything can be turned into an <keyword id="4668945" type="PERSON" weightage="60" keywordseo="nft">NFT</keyword> - from digital art, to music, to "your high school diploma" - and everything is documented on blockchain. There are also no age limits to creating them. "Especially with Gen Z, we could take the space and run with it," the crypto fan said. "It's just amazing. I think NFTs could be everything," she added. All that is needed for a wider adoption of <keyword id="6368079" type="UNKNOWN" weightage="60" keywordseo="Crypto-assets">crypto assets</keyword> is more education, she argues. That could spark a digital revolution that goes beyond finance, she said, bringing changes to not just the financial system, but also to the way people interact and make transactions work. "We have to be able to reach more people and educate more people, which is what my mission is,"she said. "I'm trying to use social media, and I'm trying to make more educational content just to reach more Gen Z - because it really is the education that matters." <a href="https://forum.businessinsider.in/">For a more in-depth discussion, come on over to Business Insider Cryptosphere</a> — a forum where users can deep dive into all things crypto, engage in interesting discussions and stay ahead of the curve. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/investments-in-crypto-hit-17-billion-in-the-first-six-months-of-2021/articleshow/83740327.cms">Investments in crypto hit a new record of $17 billion, but Indian funds are yet to jump on the bandwagon</a> <a href="https://www.businessinsider.in/cryptocurrency/news/indian-cryptocurrency-exchange-wazirx-has-listed-shiba-inu-tokens-for-trading-in-indian-rupees/articleshow/82731429.cms">Chiacoin claims to be an eco-friendly cryptocurrency — here's how it works</a> <a href="https://www.businessinsider.in/cryptocurrency/news/here-is-why-a-ban-on-cryptocurrencies-may-not-be-even-possible/articleshow/82741310.cms">Is a ban on cryptocurrencies even possible?</a> <a href="https://www.businessinsider.in/cryptocurrency/news/latin-america-and-south-asia-show-two-ends-of-the-crypto-regulatory-spectrum/articleshow/83638437.cms">Even as Latin America embraces Bitcoin, Southeast Asia is clamping down on cryptocurrencies</a>

A teen crypto influencer who started by investing her pocket money into bitcoin says Gen Z could make crypto go mainstream - once they understand its benefits

<ul class="summary-list"><li><keyword id="1673358" type="PERSON" weightage="60" keywordseo="Katie-Cassidy">Katie Cassidy</keyword> is delving into the world of NFTs with <a href="https://opensea.io/collection/me-she-we">ME.SHE.WE.</a>, a series of digital portraits.</li><li>The former "<keyword id="6392652" type="COMPANY" weightage="60" keywordseo="arrow">Arrow</keyword>" star spoke with Insider about her cancelled spin-off and her new ventures.</li><li>In addition to her <keyword id="4668945" type="PERSON" weightage="60" keywordseo="nft">NFT</keyword>, she's exploring her creator side behind the camera with multiple projects.</li></ul>Though many fans of <keyword id="881869" type="PERSON" weightage="60" keywordseo="the-CW">The CW</keyword>'s <keyword id="7436" type="PERSON" weightage="60" keywordseo="superhero">superhero</keyword> universe may have been devastated earlier this year when the network chose <a href="https://deadline.com/2021/01/arrow-spinoff-green-arrow-and-the-canaries-dead-not-going-forward-the-cw-the-100-prequel-tbd-still-alive-1234667542/">not to pick up a proposed all-female "Arrow" spin-off</a>, titled "Green Arrow and the Canaries," at least one person wasn't: leading lady Katie Cassidy. Across the series' eight-season run (and in several episodes of its spin-offs "The Flash and "Legends of Tomorrow"), Cassidy played two different versions of the popular DC comics character Laurel Lance, otherwise known as the Black Canary, and was slated to star in the spin-off alongside Katherine McNamara and Juliana Harkavy. But, to hear Cassidy tell it, the decision to ground the Canaries is likely the best choice for all involved. "I'm actually okay with it not going," Cassidy told Insider in a wide-ranging phone conversation in April. "That whole show was such a blessing. Not only for myself but for everyone involved. I loved it. It was a wonderful experience. I really feel as though we have... [we] really milked it." And after eight years, Cassidy says she's ready to "do something fresh." <div type="image" title="Katie Cassidy Arrow Canaries Spinoff" height="420" width="560" msid="83094497" hostid="261"></div>Cassidy's life recently has been marked by change. But between <a href="https://people.com/tv/katie-cassidy-divorce-husband-matthew-rodgers/">filing for divorce in January 2020</a>, the final episode of "Arrow" airing later that same month, and the onslaught of a global pandemic that saw everyone adjust to life in lockdown, the actress has done her best to use these setbacks to push herself in a new direction - just probably not one her fans expected. The confluence of these events prompted Cassidy to not only engage in an extended period of self-reflection, but to dive into the emerging world of <a href="https://www.businessinsider.com/non-fungible-tokens-nfts-have-taken-over-heres-why-theyre-important-2021-4">NFTs (non-fungible tokens)</a>, and her newfound interest in <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite" id="docs-internal-guid-4cb89935-7fff-1e00-15e6-6470ad55cb29">cryptocurrency</a> gave rise to an unexpected passion project. The actress has just released her first NFT drop, <a href="https://opensea.io/collection/me-she-we">a series titled ME.SHE.WE.</a>, in which she explores herself, the persona she presents to her fans, and the way those two identities intersect. A set of gorgeous digital portraits, the series mixes cotton canvas, black and white paint, and the human body to create something striking, dramatic, and wholly original. "It all really forced me to learn how to love myself. I had no other choice. My show had ended, my career was totally changing, and then the world was totally changing," Cassidy said. "And that's sort of what inspired me to do this." <div type="image" title="Katie Cassidy Arrow Canaries Spinoff" height="1200" width="1600" msid="83094500" hostid="261"></div> While Cassidy's enthusiam for NFTs might seems surprising to fans, it's not unprecedented given her background. "I am a big gamer; since I was a kid, I've loved technology," she said. "I wanted to be the first <keyword id="6355064" type="UNKNOWN" weightage="60" keywordseo="Celebrity">celebrity</keyword> - in my world - to do this. I wanted to be a pioneer in this space as a woman." The actress explained that within just three days, she had her portraits on <a href="https://www.businessinsider.com/nft-marketplaces-where-to-buy-sell-non-fungible-tokens-online-2021-3">Opensea</a>, a peer-to-peer marketplace for NFTs and other <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite" id="docs-internal-guid-0fa98bc4-7fff-7591-7d48-8c2acaa62aad">crypto</a> collectibles. A portion of sales from Cassidy's NFT series will benefit The Rape Foundation, Women's Global Empowerment Fund, and LifeWay Network. "I really learned a lot about myself. I can give back and hopefully, this will inspire, encourage, and empower other women to embrace themselves, to love themselves. Because we really can't have relationships with anyone until we have a good one with ourselves, which I know sounds really basic, but it's so hard." Cassidy's exploration of NFTs isn't the only career shift she's excited about. One of her biggest personal accomplishments during the final season of "Arrow" was her directorial debut. She directed the third episode of season eight, an adventure-filled hour called "Leap of Faith." "Directing was…. my eyes were popping out of my head like a kid in a candy store," she said. "The whole experience was so incredible." Cassidy's episode featured the long-awaited return of Willa Holland as Thea Queen, a superhero known as Speedy. Because the character hadn't been seen onscreen in several seasons, Cassidy saw an opportunity to play around a bit with Thea's backstory and what might have happened to her in that intervening time period in a new way. "I told [Willa], look, you've been gone for a couple of years. You've been fighting in the mountains. Maybe something happened," she told Insider. "So this is the first time we see her since then, and I got to give her this gnarly scar on her face! She of course still looked stunning. But it was like stuff like that - it gave the character more depth. There was some richness involved, layers there." Helming an episode of "Arrow" also helped Cassidy realize she's "not just an actor" but an "overall creator," with varied artistic interests. Though she couldn't reveal the name of her next project, she did tell Insider that she "ended up getting a movie to direct right before the pandemic," a film she described as a "raunchy comedy" that is only just now beginning to come back together again, production-wise. To hear Cassidy talk, she wants to do a little bit of everything as her career continues to grow, from acting to directing to even writing. (She helped pen a pilot for another project she couldn't name over the course of the past year as well, a book-based series she's hoping to both star in and direct.) But though she laughs and says "never say never" when asked about the possibility of returning to the world of superheroes and pleather pants, Cassidy's clearly hoping to branch out a bit beyond that in the coming months and years. "I like the idea of original content. We need more of that," she said. "Everywhere we look for the last, what eight to ten years? It's superheroes. Before that, it was vampires. We go through cycles." It should probably come as no surprise, then, that her interest in digital currency has translated to her creative efforts as well. "Let's do a bad-a-- woman show, but let's have it be [about] <a href="https://www.businessinsider.com/bitcoin-history-cryptocurrency-satoshi-nakamoto-2017-12">Satoshi Nakamoto</a>," she proposed, referring to the anonymous person who invented Blockchain and <keyword id="6357017" type="DEFINITION" weightage="60" keywordseo="cryptocurrency">cryptocurrency</keyword> and theorizing this hypothetical show could focus on <a href="https://thestateofwomen.com/satoshi-nakamoto-is-female-women-in-the-cryptocurrency-industry/">the mysterious inventor, who could be female</a>. "Let's have them start in cyberspace as boss bitches and [do something] futuristic and cool. It would blow your mind," Cassidy added. <a href="https://forum.businessinsider.in/">For a more in-depth discussion, come on over to Business Insider Cryptosphere</a> — a forum where users can deep dive into all things crypto, engage in interesting discussions and stay ahead of the curve. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/investments-in-crypto-hit-17-billion-in-the-first-six-months-of-2021/articleshow/83740327.cms">Investments in crypto hit a new record of $17 billion, but Indian funds are yet to jump on the bandwagon</a> <a href="https://www.businessinsider.in/cryptocurrency/news/indian-cryptocurrency-exchange-wazirx-has-listed-shiba-inu-tokens-for-trading-in-indian-rupees/articleshow/82731429.cms">Chiacoin claims to be an eco-friendly cryptocurrency — here's how it works</a> <a href="https://www.businessinsider.in/cryptocurrency/news/here-is-why-a-ban-on-cryptocurrencies-may-not-be-even-possible/articleshow/82741310.cms">Is a ban on cryptocurrencies even possible?</a> <a href="https://www.businessinsider.in/cryptocurrency/news/latin-america-and-south-asia-show-two-ends-of-the-crypto-regulatory-spectrum/articleshow/83638437.cms">Even as Latin America embraces Bitcoin, Southeast Asia is clamping down on cryptocurrencies</a>

'Arrow' star Katie Cassidy is moving on from superheroes and ready for the next thing - digital art and cryptocurrency

<ul class="summary-list"><li><a href="https://markets.businessinsider.com/stocks/gme-stock">GameStop</a> is hiring a team to build out an <keyword id="4668945" type="PERSON" weightage="60" keywordseo="nft">NFT</keyword> platform, according to its new website.</li><li>The scope of the company's project isn't clear.</li><li><keyword id="363661" type="COMPANY" weightage="60" keywordseo="GameStop">GameStop</keyword> said it was recruiting engineers, designers, gamers, marketers, and community leaders.</li></ul>GameStop <a href="https://nft.gamestop.com/">launched a website</a> this week that says it's hiring a team to build a platform for nonfungible tokens, or NFTs. The website includes a message inviting engineers, designers, gamers, marketers, and community leaders to join the video-game retailer's team. It also posted a link to an <a href="https://etherscan.io/address/0x13374200c29C757FDCc72F15Da98fb94f286d71e">ethereum address</a>, suggesting it would base its platform on the <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite" id="docs-internal-guid-38e3b52d-7fff-89a5-91d2-81266af3038b">blockchain</a> technology. NFTs, <a href="https://www.businessinsider.com/non-fungible-tokens-nfts-have-taken-over-heres-why-theyre-important-2021-4">a type of digital asset</a>, exploded in popularity during the pandemic as enthusiasts and investors scrambled to spend enormous sums of money on items that exist only online. Like bitcoin, NFTs are powered by blockchain. "Nonfungible" means the item is unique and cannot be exchanged. <div type="image" title="Screenshot 2021 05 26 at 13.36.33" height="648" width="1548" msid="83061190" hostid="261"></div>Read more: <a href="https://www.businessinsider.com/warren-buffett-hoards-cash-sells-stocks-bash-bitcoin-thomas-russo-2021-5" target="_blank">Warren Buffett is hoarding $80 billion in cash, cleaning up his stock portfolio, and declining to bash bitcoin. Veteran investor Thomas Russo says why that strategy will pay off.</a> The scope of GameStop's project isn't clear. A graphic on its website says: "Power to the players. Power to the creators. Power to the collectors." Matthew Finestone, the company's head of <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite" id="docs-internal-guid-f3e989d0-7fff-f311-9167-95d3aad96e78">blockchain</a>, <a href="https://twitter.com/finestonematt/status/1397309790964047872">said on Twitter</a> on Tuesday that he was "super excited &amp; honoured" to be part of its NFT ambitions. GameStop, founded by Harvard alumni 37 years ago, found itself at the <a href="https://markets.businessinsider.com/news/stocks/reddit-day-traders-wallstreetbets-gamestop-gme-rally-upending-stock-market-2021-1-1030009280">center of market attention</a> earlier this year as retail investors banded together to buy its stock and beat Wall Street hedge funds at their own game. The company's shares rose by as much as 2,500% in a matter of weeks, sparked by the herd mentality on Reddit's Wall Street Bets forum and by the surging popularity of trading apps like Robinhood. It recently made several leadership changes at the direction of the activist investor Ryan Cohen, who's leading its shift to e-commerce to compete with big retailers. Chief Financial Officer Jim Bell and Chief Customer Officer Frank Hamlin were among the senior executives who left this year, and CEO George Sherman is set to <a href="https://markets.businessinsider.com/news/stocks/gamestop-stock-price-company-announces-ceo-george-sherman-resignation-2021-4-1030316978">depart on July 31</a> or upon the appointment of a successor. A former Amazon Web Services engineering lead, Matt Francis, was <a href="https://www.businessinsider.com/gamestop-hires-former-amazon-aws-leader-as-cto-2021-2">appointed chief technology officer</a> in February. Cohen and two like-minded board members are aiming to <a href="https://www.businessinsider.com/gamestop-ecommerce-ryan-cohen-leading-strategic-committee-2021-3">transform GameStop into the Amazon of gaming</a>. GameStop was trading 12% higher, at $236.77, on Wednesday. <a href="https://forum.businessinsider.in/">For a more in-depth discussion, come on over to Business Insider Cryptosphere</a> — a forum where users can deep dive into all things crypto, engage in interesting discussions and stay ahead of the curve. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/investments-in-crypto-hit-17-billion-in-the-first-six-months-of-2021/articleshow/83740327.cms">Investments in crypto hit a new record of $17 billion, but Indian funds are yet to jump on the bandwagon</a> <a href="https://www.businessinsider.in/cryptocurrency/news/indian-cryptocurrency-exchange-wazirx-has-listed-shiba-inu-tokens-for-trading-in-indian-rupees/articleshow/82731429.cms">Chiacoin claims to be an eco-friendly cryptocurrency — here's how it works</a> <a href="https://www.businessinsider.in/cryptocurrency/news/here-is-why-a-ban-on-cryptocurrencies-may-not-be-even-possible/articleshow/82741310.cms">Is a ban on cryptocurrencies even possible?</a> <a href="https://www.businessinsider.in/cryptocurrency/news/latin-america-and-south-asia-show-two-ends-of-the-crypto-regulatory-spectrum/articleshow/83638437.cms">Even as Latin America embraces Bitcoin, Southeast Asia is clamping down on cryptocurrencies</a>

GameStop is building an NFT platform as part of an ambitious plan to transform itself into the Amazon of gaming

<ul><li>A group of 29 developers have written an open letter to Valve to allow blockchain-based games back on Steam.</li><li>Valve, the parent company behind Steam, banned all such games from the gaming platform on October 16.</li><li>Steam competitor <keyword id="349789" type="General" weightage="20" keywordseo="epic-games" source="Orion">Epic Games</keyword> took the opportunity to take a different route — allowing <keyword id="12408144" type="General" weightage="20" keywordseo="blockchain-games" source="Orion">blockchain games</keyword> on the Epic Games Store.</li></ul>Steam, one of the leading platforms for gaming, recently banned blockchain-based games from its platform. But, developers are urging the parent company, Valve, to take another look at their decision — and hopefully revert the ban keeping gamers from the burgeoning world of <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite&amp;is_retargeting=false&amp;shortlink=BI&amp;c=site&amp;pid=Business%20Insider&amp;af_click_lookback=7d&amp;af_channel=Business%20Insider&amp;af_adset=article&amp;af_force_deeplink=true">crypto games</a>. Meanwhile, Valve is yet to issue a response to the letter. <div type="ExtQuote" text="&quot;In the spirit of [Steam's] pioneering vision, we ask that you take a chance on this rapidly growing technology.&quot;" auname="Excerpt from the open letter by the Blockchain Gaming Alliance and 28 other developers urging Valve to reinstate blockchain games"></div> The letter argues that games utilising blockchain technology and web3 token-based technologies like decentralised autonomous organisations (DAOs) — a system where algorithms are in charge of the governance and protocols instead of humans — and non-fungible tokens (NFTs) can positively enhance the user experience of games, and create new economic opportunities for users and creators. In fact, the biggest NFT project in the crypto universe right now is <a href="https://www.businessinsider.in/cryptocurrency/news/nft-based-game-axie-infinity-hits-1-billion-in-trade/articleshow/85180646.cms">Axie Infinity</a> with a whopping $2.6 billion in all-time sales volumes, according to NFT data aggregator <a href="https://cryptoslam.io/">Crypto Slam.</a> Sky Mavis, the company behind Axie Infinity, raised $152 million at a nearly $3 billion valuation to help grow its game even further. The traditional online gaming industry saw a huge surge in interest during the COVID-19 pandemic, but it still faces issues like cross-game interoperability, the lack of ownership and limited ways to earn revenue. Crypto could be the missing building block with the potential to empower developers and gamers alike, especially when it comes to monetisation. <cmsannotation type="cmsannotation" annotationid="Valve’s decision to ban all blockchain-based games from Steam" comment="subhead" text="Valve’s decision to ban all blockchain-based games from Steam">Valve’s decision to ban all blockchain-based games from Steam</cmsannotation> The letter comes on the heels of Valve’s decision to ban all <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite&amp;is_retargeting=false&amp;shortlink=BI&amp;c=site&amp;pid=Business%20Insider&amp;af_click_lookback=7d&amp;af_channel=Business%20Insider&amp;af_adset=article&amp;af_force_deeplink=true">blockchain-based</a> games from its platform. The company issued an edit on its Onboarding Guidelines on October 16, telling users that such games could not be published on Steam, one of the biggest gaming platforms in the world. “Applications built on blockchain technology that issue or allow exchange of cryptocurrencies or NFTs,” the company’s guidelines said. However, the gaming giant hasn’t yet explained its decision to ban games that use NFTs and cryptocurrencies. According to 'Age of Rust' developer <a href="https://twitter.com/SpacePirate_io/status/1448713803680473089">SpacePirate</a>, Valve doesn't want "items that can have real-world value" on Steam. <cmsannotation type="cmsannotation" annotationid="Steam’s loss is Epic’s gain" comment="subhead" text="Steam’s loss is Epic’s gain">Steam’s loss is Epic’s gain</cmsannotation> Steam’s decision to ban blockchain-based games was quickly followed by gaming giant Epic Games, which did exactly the opposite. The company welcomed blockchain game developers onto its platform on October 16. Albeit, there are currently no plans to integrate the play-to-earn model onto <a href="https://www.businessinsider.in/tech/news/epic-games-maker-of-fortnite-saw-its-value-rise-by-17-billion-in-just-8-years-a-more-than-twentyfold-increase/articleshow/76947851.cms">Fornite</a> — the platform’s most popular game. <div type="ExtQuote" text="“Epic Games Store will welcome games that make use of blockchain tech provided they follow the relevant laws, disclose their terms, and are age-rated by an appropriate group. Though Epic's not using crypto in our games, we welcome innovation in the areas of technology and finance.”" auname="Chief executive of Epic Games, Tim Sweeney, said on Twitter"></div> As far as gaming on PCs goes, the Epic Games Store, Microsoft’s Windows Store and Steam are the biggest marketplaces for downloading games. The Epic Store, though, isn’t as popular as Steam or the Windows Store. The company has been trying to make it more ubiquitous and supporting blockchain gaming may be the way it gets an upper hand over its competitors. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/shiba-inu-is-bigger-than-dogecoin-xrp-polkadot-and-usd-coin-as-the-seventh-biggest-player-in-the-market/articleshow/87326249.cms">Shiba Inu is not only bigger than Dogecoin — it’s now bigger than XRP, Polkadot and USD Coin as the seventh-biggest player in the market</a> <a href="https://www.businessinsider.in/cryptocurrency/quiz/can-crypto-go-green-here-are-six-questions-that-explain-the-digital-worlds-bid-to-become-eco-friendly/articleshow/87307446.cms">Can crypto go green? Here are six questions that explain the digital world's bid to become eco-friendly</a> <a href="https://www.businessinsider.in/cryptocurrency/news/cryptopunk-nft-sold-for-2-million-delivered-over-27000-return-on-investment/articleshow/87304307.cms">A CryptoPunk NFT bought for $74 resurfaced after four years and just sold for $2 million</a>

‘Don’t ban Web3 games’ — 29 blockchain game studios and groups write an open letter to Valve to revert ban on NFT games

<ul class="summary-list"><li><keyword id="11413729" type="UNKNOWN" weightage="60" keywordseo="ikonick">IKONICK</keyword>, a canvas-<keyword id="1105" type="PERSON" weightage="60" keywordseo="art">art</keyword> company, blends pop culture and quotes into high-end art millennials love.</li><li>Now, it plans to disrupt the NFT space. It dropped its first NFT last month, earning $100,000 in sales.</li><li>The founders spoke with Insider about tapping into the millennial art buyer and the future of <keyword id="902592" type="PERSON" weightage="60" keywordseo="NFTS">NFTs</keyword>.</li></ul>"Dreams weigh more than excuses." So says an all-white, bold font splashed across a seesawing elephant and dancing butterfly in a mystical-looking forest. It's inspirational, colorful, and a bit magical - like a motivational Instagram meme brought to life. It also happens to be a non-fungible token, a digital file tradable by <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite" id="docs-internal-guid-7af2aad9-7fff-70d2-9522-a8d0bd32b751">blockchain</a>, and the brainchild of the millennial entrepreneurs <a href="https://www.instagram.com/markbrazil/">Mark Mastrandrea</a> and <a href="https://www.instagram.com/cole/">Jeff Cole</a>, the cofounders of <a href="https://ikonick.com/">IKONICK</a>, an online canvas-art company. It was IKONICK's inaugural NFT drop, sold as two different editions that raked in over $100,000 in sales collectively. "This space is moving faster than anything I've ever seen in my life," Mastrandrea said of <keyword id="10871093" type="UNKNOWN" weightage="60" keywordseo="crypto-art">crypto art</keyword>. The <a href="https://nonfungible.com/nft-report-2020">$250 million NFT market</a> is new for Mastrandrea and Cole, who founded IKONICK in 2016 as a way to make art both affordable and aspirational to millennials, translating pop culture and inspirational quotes into something worth hanging on your wall. Mastrandrea said they would be "stupid" as a digital art company to not take <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite" id="docs-internal-guid-7c2f84e2-7fff-8d9c-56eb-69ab115e35e4">crypto</a> art seriously. NFTs shot to fame in March, when Beeple's "Everydays: the First 5000 Days," a collage of images, sold for $69.3 million, <a href="https://www.washingtonpost.com/entertainment/museums/beeple-digital-artwork-sale-perspective/2021/03/15/6afc1540-8369-11eb-81db-b02f0398f49a_story.html">the third-highest price</a> paid at auction for a work by a living artist. That month, people <a href="https://www.businessinsider.com/why-are-people-buying-nfts-investing-in-nft-crypto-art-2021-3">dropped millions on crypto art</a>. NFTs have been around for about five years, but the craze has seemingly come out of nowhere, fueled by the wealthy, who had extra time and money on their hands during the pandemic; the popularity of bitcoin; and the volatility in prices. Mastrandrea and Cole hoped to dominate this emerging space. Until May, IKONICK only sold canvas art. Canvases range from $90 to $650, depending on the size and depth, and feature everything from an <a href="https://ikonick.com/products/pause-if-you-must">image of a cassette tape</a> emblazoned with "Pause if you must. But don't stop" to a meme of "Mona Lisa" with hundred-dollar bills underneath her canvas, aptly titled "<a href="https://ikonick.com/products/money-lisa">Money Lisa</a>." Some are even the product of cobranded art collections made with Monopoly, Peanuts, and the NBA, among others. Within 18 months of launching, the founders said, IKONICK raked in $10 million in sales in canvas art alone, meaning thousands upon thousands of pieces sold. Gary Vaynerchuk, an entrepreneur, and Scooter Braun, an investor and record executive, became strategic advisors. In 2019, an "outside investment" valued the company at $30 million. With the launch of IKONICK NFT, Mastrandrea and Cole aim to take their company to the next level using the same DNA they said fueled IKONICK's initial success: value and storytelling. Much like they made high-quality art accessible, the duo plans to produce rare, high-quality NFTs with owned IP, inspired by their canvas-art designs and geared toward the millennial investor. Since they already have existing art, animating it to produce an NFT wasn't difficult, they said. But, they added, the process was tedious, given how new the market is. They're focused on producing both proprietary designs and licensed NFTs, the first licensed partner of which is Popeye - the sailor man, not the fried chicken. They've also established <a href="https://www.openresidency.com/">Open Residency</a>, a new-age artist management and creative agency, to provide creative, marketing, and distribution support to brands and artists also looking to enter the NFT space. Their roster includes Gal Yosef, a 3D artist and 21st century sculptor, and Alex Alvarado, an artist at Disney Animation. <div type="image" title="Jeff Gal Alex Open Residency" height="1655" width="2206" msid="83378573" hostid="261"></div>"There's a really great, more cerebral story that we can tell with not only IKONICK and Cole but with bringing in these really talented artists as well," Mastrandrea said. Through both their canvas and NFT art ventures, as well as their new agency, Mastrandrea and Cole are staying on top of all the ways a new generation of art buyers is reshaping the art market. They spoke to Insider about how they created social-media-inspired art for millennials, their plans to dominate crypto art, and the future of NFTs. <h2>Speaking to the millennial art buyer</h2>Mastrandrea and Cole are betting big on a <a href="https://www.businessinsider.com/nft-art-crypto-revenue-stream-death-of-the-artist-revival-2021-4">new phenomenon</a> during a time when the art market is shrinking - <a href="https://www.artbasel.com/about/initiatives/the-art-market">by 22%</a> in 2020 to $50.1 billion in sales, the lowest level since the Great Recession. But the young and tech-savvy buyer that is the wealthy millennial could be <a href="https://www.businessinsider.com/rich-millennials-disrupting-art-market-crypto-nft-non-fungible-tokens-2021-3">saving the art market</a>. Pre-pandemic, they were already digitizing the space, more willing to <a href="https://www.businessinsider.com/rich-millennials-investing-art-flipping-build-wealth-2019-4">buy art online</a> than other generations and dropping more than $100,000 doing so. Instagram in particular had become a tool for both emerging artists and millennial collectors, <a href="https://www.adweek.com/digital/influencing-the-art-market-millennial-collectors-social-media-and-ecommerce/">Adweek reported</a>. The online trend was only exacerbated during 2020, as wealthy millennials <a href="https://www.businessinsider.com/millennials-gen-z-pandemic-investments-spending-toys-vintage-clothes-animals-2020-12">leaned into art and culture investments</a> during quarantine. Come March 2021, they began reshaping the art market further as they <a href="https://www.businessinsider.com/rich-millennials-disrupting-art-market-crypto-nft-non-fungible-tokens-2021-3">led the crypto craze</a>. <a href="https://open.spotify.com/episode/6NaGjxDYKeQqwM8tUnvILv?si=L-ZFEPpbTb6pHrXN7mIbAQ&amp;nd=1nd=1">Sixty percent of bids</a> on Christie's NFTs overall were made by those under the age of 40. <div type="image" title="jeff monopoly lifestyle gallery (1)" height="2499" width="2500" msid="83378576" hostid="261"></div>It's a consumer that Mastrandrea and Cole know well. Consider the winners of their Eternal Auction: 20-something male millennial entrepreneurs who purchased 10 pieces of IKONICK canvas art in the past. "It was literally us four years ago," Cole said. Mastrandrea and Cole have known each other for about a decade, since working together on marketing and design, respectively, at a luxury hat company. Back in 2014, Mastrandrea met a young artist in Boston and began managing him. The experience made Mastrandrea realize that there was a hole in the market for affordable art, he said. At the same time, Cole noticed that his Instagram feed was full of motivational quotes and memes, and the idea to put pop-driven art that spoke to millennials on <a href="https://www.instagram.com/ikonick/">social media</a> was born. Cole said he was able to combine a high-end feel with affordability, which helped drive a compulsion to buy, like, and share. "I thought of a way to make motivational stuff cool," he said. "I was kind of marrying high-end art with what was going viral on the internet." While Cole may be the creative mind of the operation, Mastrandrea oversees the business side. In the beginning, they said, they worked early mornings, late evenings, and weekends until they sold enough pieces to quit their jobs and take on IKONICK full time. Now, IKONICK is a team of 12. It wasn't until January that they learned what NFTs were, when Vaynerchuk brought up the latest form of cryptocurrency during their quarterly business meeting. "We started going down a rabbit hole, and it's been insane," Mastrandrea said, adding that he spends about 15 hours a week self-educating himself on NFTs by reading the latest news, watching YouTube videos, looking at the marketplace and artists, and talking to people. "Conversations with people in this space are always going to unlock something," he said. <h2>A 'wild, wild west' of art</h2>"I think NFTs are going to be as big as social media and the internet," Mastrandrea said. "There's going to be a zillion types of applications, but in the here and the now, the first most adopted application is probably in the art scene." Mastrandrea said NFTs are changing the concept of ownership in the art world. An NFT and blockchain gives a hard stamp of approval that can offer true ownership to the consumer, he said. For digital art businesses such as IKONICK, he added, it also protects their IP so competitors can't create knockoffs. But there's also an element of fractional ownership, in which multiple people can share ownership of art they wouldn't be able to afford otherwise. Mastrandrea likens it to investing in stock. If an NFT costs $100,000, for example, four different people could put in $25,000 to own it. <div type="image" title="Mark and Jeff Shopify (1)" height="698" width="931" msid="83378578" hostid="261"></div>The most interesting thing to Mastrandrea is how NFTs are deployed in the real world. He said technologies are emerging to help display them. As an example, he mentioned Mark Cuban's <a href="https://lazy.com/">Lazy.com</a>, where you can showcase NFTs. "It's just a wild, wild west of how you can display art," Cole added. But whether the market lasts is an open-ended question. The number of NFT sales for the week ending June 4 is about half of what they were during March's peak, the industry tracker <a href="https://nonfungible.com/market/history">NonFungible.com</a> showed. Mastrandrea thinks NFTs are here to stay: "It is, in my eyes, the safest way to validate true ownership of something. It's going to disrupt all industries - insurance, textbooks, art, music, video. NFTs are going to be an underlying technology for everything and anything." The problem is that the technology for NFTs is underdeveloped, he said, with applications not fully built yet. For example, gas fees - fees you have to pay to buy or sell an NFT - are still high, around $200. Mastrandrea anticipates these costing zero in the future. He likened it to the early days of the internet, when you needed dial-up to connect. "There's going to be a tipping point," he said. "That's what's going to unlock everything." <a href="https://forum.businessinsider.in/">For a more in-depth discussion, come on over to Business Insider Cryptosphere</a> — a forum where users can deep dive into all things crypto, engage in interesting discussions and stay ahead of the curve. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/investments-in-crypto-hit-17-billion-in-the-first-six-months-of-2021/articleshow/83740327.cms">Investments in crypto hit a new record of $17 billion, but Indian funds are yet to jump on the bandwagon</a> <a href="https://www.businessinsider.in/cryptocurrency/news/indian-cryptocurrency-exchange-wazirx-has-listed-shiba-inu-tokens-for-trading-in-indian-rupees/articleshow/82731429.cms">Chiacoin claims to be an eco-friendly cryptocurrency — here's how it works</a> <a href="https://www.businessinsider.in/cryptocurrency/news/here-is-why-a-ban-on-cryptocurrencies-may-not-be-even-possible/articleshow/82741310.cms">Is a ban on cryptocurrencies even possible?</a> <a href="https://www.businessinsider.in/cryptocurrency/news/latin-america-and-south-asia-show-two-ends-of-the-crypto-regulatory-spectrum/articleshow/83638437.cms">Even as Latin America embraces Bitcoin, Southeast Asia is clamping down on cryptocurrencies</a>

Meet the millennial crypto-art entrepreneurs backed by Gary Vaynerchuk who want to dominate the 'wild, wild west' of the NFT market

<ul class="summary-list"><li><keyword id="12303302" type="UNKNOWN" weightage="60" keywordseo="shiba-inu" source="Orion">Shiba inu</keyword> fell by as much as 40% over the last week, while DeFi token solana has climbed 21%. </li><li>Investors have started turning away from meme coins to those that have real use cases.</li><li>This week, investors were unnerved by a scam in a <keyword id="12415047" type="UNKNOWN" weightage="60" keywordseo="squid" source="Orion">Squid</keyword> Game-themed token and by <keyword id="12256033" type="UNKNOWN" weightage="60" keywordseo="shiba" source="Orion">shiba</keyword> inu whale activity.</li></ul>Shiba inu lost some of its recent appeal this week, falling by as much as 40% over the week in the seven days to Friday. Investors have shunned meme tokens in favor of cryptocurrencies with more real-life use cases, such as solana and ether.The dogecoin-inspired meme coin was down around 5% on the day to $0.00005164, having touched a low this week of $0.00004130 on the Coinbase exchange, marking a drop of almost 40% week-on-week.The coin's rapid rise, coupled with developments elsewhere in the crypto space that have lured investors into more established tokens, unleashed a wave of profit-taking, particularly in light of the fact that most shiba inu in circulation is concentrated in very few hands - meaning there is a strong chance of even deeper losses."There are a load of shib coins out there to sell and whales with big bags to offload. The fact that a few whales hold much of the supply can actually make it easy to push prices up, but of course small-time traders will never know when whales will sell," Ali Beikverdi, CEO and co-founder of bitHolla, an exchange software company said. By way of example, shiba inu holders were unnerved earlier this week when the second biggest shib address started moving $2.3 billion worth of the coin from its wallet. That wallet only accounts for 7% of shiba inu in circulation, while the largest holds 41%, according to Coinmarketcap data.Added to that, a blistering rally in a "<a href="https://markets.businessinsider.com/news/currencies/the-squid-game-token-scam-website-socials-offline-coingecko-crypto-2021-11">Squid Game</a>" token - inspired by the hit Korean series on Netflix - ended in that coin crashing to 0 from closer to $3,000 in hours. This event rekindled concern over the potential for scams in the crypto market."Indeed, investors don't like to lose money. What happened with the <keyword id="12189586" type="UNKNOWN" weightage="60" keywordseo="squid-game" source="Orion">Squid Game</keyword> token caused a high level of discomfort amongst investors," Ryan Wilkinson, Head of Product at<a href="http://blockasset.co/"> Blockasset.co</a>, an NFT marketplace built on the solana network said. Meanwhile, investors have flocked to coins with real use cases, such as those linked to decentralized finance and non-fungible tokens, like ether, solana and avalanche.Solana's sol token has gained 21% so far this week and hit record highs above $250, while avalanche's avax has risen 18% this week and ether - the second most-traded cryptocurrency after bitcoin - has gained 1.6%."Solana is undoubtedly one of the hottest blockchains today, as its usability and eco-friendliness are reverberating across the blockchain industry," Wilkinson said. "The number of decentralized finance (DeFi) applications and non-fungible tokens (NFT) being floated atop the blockchain is the ultimate source of boosted demand for sol," he said.Ether benefitted from the announcement of the launch of micro futures by CME - the biggest derivatives exchange - as well as the growing momentum around NFTs and the metaverse, much of which runs on ethereum. Regardless of the scandals and scams that seem to follow meme cryptos and social tokens, at times, some market watchers believe these more speculative coins will persist. "Meme tokens will have a big part in the cryptocurrency space," Marcus Sotiriou, sales trader at digital asset broker GlobalBlock, said. "We've had evidence with coins like DOGE and SHIB that this is the case. In a world where we are all connected by social media, these communities can be very powerful, and they take advantage of network effects."

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