Cryptocurrency News

Reddit Releases New NFTs, Crypto Twitter Leaves Threads on Read

3 min read
Reddit Releases New Nfts, Crypto Twitter Leaves Threads On Read

Reddit has released its latest NFT avatar collection aimed at inspiring “warm, fuzzy feelings of nostalgia” among collectors, while Amazon added new blockchain tools to its Amazon Web Services cloud platform as it continues its Web3 expansion.

Also, we chatted with Web3 influencers to suss out if the crypto degens are ready to migrate from Twitter to Meta’s Threads or another decentralized social media platform.

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Much ado about Snoo: Reddit released its Gen 4 Collectible Avatar series, bringing a new batch of colorful collectibles to its NFT shop reimagining the platform’s iconic “Snoo” character. Titled “Retro Reimagined,” the microblogging site says it is meant to inspire “warm, fuzzy feelings of nostalgia” and features designs from 100 independent artists and popular NFT collections like Cool Cats.

Amazon primed and ready: The e-commerce giant has added new blockchain tools to its Amazon Web Services cloud platform, expanding the capabilities of its Amazon Managed Blockchain service that provides manicured infrastructure for developers looking to build Web3 applications faster. The new tools, “Access” and “Query,” allow developers to interact with public blockchains more seamlessly and expand node offerings with serverless, scalable access to blockchains.

Threadheads: While Meta’s new Threads social app recently onboarded millions of normies, the question remains: Will it be cool enough to lure the vibrant crypto community away from its native Twitter homebase? Some Web3 strategists and builders are skeptical of its pull. “I don’t need a Twitter clone – I need Meta to think deeper about creating new ways to connect,” Riley Blackwell, Web3-focused community-building strategist, told us.

Stan Lee Universe

Who: VeVe and Kartoon Studios

What: NFT marketplace VeVe has released a new series of chibi-style NFTs based on Marvel legend Stan Lee. Each of the four artworks had various edition numbers and rarity ranks. Kartoon Studio, which partnered with VeVe on the release, said that the collectibles experienced a “near-instantaneous” sell-out of its over 8,000 NFTs.

How: The collectibles, released as “blind boxes” that were only revealed after purchase, were priced at $15 each. According to Bloomberg, the drop brought in about $120,000 and rose in value by at least 500% by Monday morning. On the VeVe app, some collectibles were listed for resale for up to $749.

No admission fee: The 270-year-old British Museum is entering the metaverse through a partnership with The Sandbox, bringing its collection to the virtual world as well as releasing a collection of NFTs.

Twitter trading: Web3 wallet Suku has launched an app that allows Twitter (X?) users to directly send digital currencies and NFTs to each other, a feature Musk hopes to add to his social media platform.

Frequent flier: United Arab Emirates carrier Etihad Airways plans to introduce a Web3 loyalty program that will allow holders to stake NFTs for miles and travel perks.

In the past few months, several Web3 projects have adopted the ERC-6551 standard, or token-bound account. The new standard opens up a plethora of use cases across NFTs, gaming, DAOs and the metaverse.

For example, let’s say a PFP NFT collection implements an ERC-6551 token standard. If the collection has its own native cryptocurrency, the NFT could custody those tokens. It could also custody derivative NFTs such as digital wearables for the avatar, like socks or sneakers or hats. Here’s what you need to know about ERC-6551.

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