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NFT Project ‘Pudgy Penguins’ Turns Frosty Amid Founder Ousting

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Off the back of its founders being voted out after allegedly draining the treasury of funds and failing to deliver on multiple stated goals, the direction and governance of profile picture project Pudgy Penguins is in complete disarray, marking one of the most tumultuous times in the short history of NFT communities.

The voting out of the founders followed the publishing of a thread by Twitter user and owner of 242 Pudgy Penguin NFTs, 9x9x9eth, who had already ousted co-founder ‘Cole Thereum‘ for failing launch a promised game, token, educational book on NFTs, and more. The thread claimed that the founders were looking to abandon the project and offered to sell him its shell for 888 ETH (about $2.8 million), an offer he turned down. The project has since received multiple buyout offers from various prominent industry names, including the likes of Mintable co-founder Zach Burks, and Netz Capital’s Luca Netz.

Community members who are wary of a buyout have floated the idea migrating the community to a new project called ‘Wrapped Penguins,’ a parallel community governed using a DAO framework. Wrapped Penguins would allow current Penguin holders to mint and hold ‘wrapped’ versions of their Penguins which they could ‘unwrap’ into their original NFT any time.

Such migration of the community would not only sever all ties with the original founders who still receive royalties from each NFT sale, but its use of smart contracts would also make it the first ever purely decentralized NFT pfp project.

Irrespective of the direction the project takes, the battle for its control has inescapably raised huge questions surrounding the governance of NFT communities, or more broadly, what happens when founders fail to deliver on stated goals, or when infighting in the community occurs.

Follow Pudgy Penguins >> Twitter

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NFT

VR Real Estate Ecosystem ‘Dvision’ Launch Second LAND NFT Sale –

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Virtual reality content ecosystem Dvision Network is launching its second LAND sale. The sale is the second instalment of a 10-part LAND sale initiative mapped out by the network. 

The LAND sale is planned to launch on January 27th at 20:00 KST, and will take place on OpenSea and the network’s native marketplace, Dvision Marketplace. The sale will see 4,600 LAND lots (40% of total ownership) of the Metaverse’s Tokyo and London Meta-Cities being evenly distributed to users across both marketplaces, and will be available for purchase in both ERC-721 and Binance Smart Chain BEP-721 standards.

Those seeking insight into the sale’s structure with regards to pricing, available lots, size, location, and purchase guidelines, will have to look out for the upcoming announcement on Twitter which will provide the details.

The sale follows the successful first LAND sale which saw the distribution New York and Seoul Meta-City LAND lots, making it the largest BSC-based LAND sale to occur simultaneously across three different platforms (Binance NFT, NFTb, and Dvision Marketplace). Its combined trading volume amounted to over $10 million. In addition, and perhaps even more remarkably, the assets of the sale are now reportedly trading at four times their original price.

New York, Seoul, Tokyo and London are just four of 20 Meta-Cities to reside within the Dvision Network Metaverse, meaning there are ample Meta-City releases and corresponding LAND sales for VR real estate enthusiasts to sink their teeth into!

Learn more about the composition of Meta-Cities >> Here

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Prada and Adidas Launch Community-Driven NFT Project –

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Off the back of their physical collaboration ‘Re-Nylon,’ fashion giants Prada and Adidas have coupled once again, but this time in the name of NFTs. Dubbed ‘Re-Source,’ the project entails community members submitting images of themselves, which once compiled together, will render a singular NFT with a collective, Beeple-styled utility.

Beginning on January 24th, anyone with a digital wallet can participate in the project by sending a photo using a filter designed by coder and digital artist, Zach Lieberman. A total of 3,000 submissions will be randomly selected, with 1,000 spots reserved for Adidas Originals’ ‘Into the Metaverse’ NFT holders.

Each photo will be converted into an NFT, with each submitter having the opportunity to mint their respective NFT for free between January 26th-27th. Lieberman will then collate a singular mosaic NFT using each of the 3,000 NFTs as tiles, and release it via auction on SuperRare between January 28th and 31st. A portion of the proceeds from the mosaic NFT sale will go to Slow Factory, a non-profit organization that focuses on battling climate change and helping marginalized communities.

The fashion consortium’s project also allows fans to profit from their participation, as they will retain full IP rights to their individual NFT, have the ability to sell it on secondary markets, and receive royalties each time the mosaic NFT is sold. Through inviting fans into the fold via such personalized modes of engagement, the projects’ perpetuating sense of shared ownership and creator rights sets itself apart from the usual ‘digital characters’ or ‘virtual fashion’ launches seen in the endeavours of other fashion brands who have also dipped their toes into NFTs.

Sign up to the waitlist >> Here

Follow Prada >> Twitter

Follow Adidas Originals >> Twitter

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Revomon Launches Excellent New Burn-to-Earn Feature

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Open world monster battling arena, Revomon, has introduced a magnificent new “Burn to Earn” mechanic to its platform. Going forward, gamers can earn rewards for disposing of their unwanted digital pets.

Heading into the tail end of January, the one-time Pokemon VR will begin rewarding gamers in $REVO tokens for casting their small monsters into the fiery pit. This all-new gaming mechanic will see eligible creatures won in the field of battle converted to the platform’s native token.

To participate, gamers must first acquire the mechanical sidekick, R3V-UP, which effectively enables the game’s NFT features. Afterwards, it is then possible to incinerate unsuspecting monsters as long as they are of the same rarity, and in the case of common and rare Revomon, they are of the same type. Once these parameters are met, gamers are free to put their fairly won collectibles to the torch.

Revomon Burn to Earn

To launch the feature, Revomon has calculated a set of floor prices for each creature. So, gamers will have to opportunity to begin earning immediately. However, as the team collects more data, these prices will change to reflect their true value within the game. To support the upgrade, Revomon will begin distributing the 11 million $REVO tokens reserved for play-to-earn gaming, representing 11% of the total token supply.

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