Nifty: M&M’S jump into BAYC mania, a Pudgy Penguin sells for 400 ETH and more…

BAYC

Owners of luxury watches can now verify ownership as NFTs and then take DeFi loans out against them, while Miley Cryus may soon enter the metaverse and NFTs with new patents.

Global confectionery giant Mars has teamed up with virtual metaverse band KINGSHIP to create limited edition boxes of M&M'S featuring content from the Bored Ape Yacht Club (BAYC).

KINGSHIP is a group made up of three BAYC NFT hodlers and one Mutant Ape Yacht Club MAYC owner. As part of the deal, the avatars depicted in the NFT art will be printed on the chocolate candies in a select number of boxes.

There has been a total of 4,000 boxes created in total, split between two tiers of rarity. The regular tier comes in 3,900 brown celebratory gift boxes, while the 100 “gold” edition boxes are wrapped in gold and white foil, number 1 to 100 and have the Kingship member’s apes printed on the M&M'S.

Additionally 6,000 candy gift jars have been put up for sale from today via the M&M'S website. Hodlers of the KINGSHIP Key Card NFTs were given early access to this promotion, suggesting the gold edition boxes may already be gone.

"We're excited to continue our Mars foray into the metaverse through this partnership with 10:22PM and KINGSHIP, as a way to engage our fans in a new and exciting space," said Jane Hwang, Global Vice President at Mars Wrigley.

The deal marks another interesting utilization of the IP behind Yuga Labs’ NFT projects, with other BAYC hodlers using the content for TV shows and restaurants in the past.

400 ETH Pudgy Penguin

Despite the NFT sector going through a lengthy bear market, one Pudgy Penguin NFT has recently sold for a whopping 400 Ether (ETH) on Aug. 22, worth roughly $670,000 at current prices.

There are 8888 Pudgy Penguin NFTs in circulation and the project is one of the most popular NFT collections on the market.

The NFT sold was Pudgy Penguin #6873, one of the rarest in the collection as nearly all of penguin avatar’s traits are shared by just 0.01% of the other NFTs in the project.

According to the transaction history on OpenSea, the seller CoinUnited previously bought the NFT for 225 ETH on Sept. 8 last year, worth roughly $788,000 at the time. As such they banked a major ETH profit, though it would be counted as a $118,000 fiat loss.

This Pudgy Penguin just sold for 400 ETH ($630,000) pic.twitter.com/JM1OVkZlSg
— nathanhead.eth (@NathanHeadPhoto) August 22, 2022

Over the past 30 days Pudgy Penguin NFTs have generated $7.5 million worth of sales, marking a 314% increase within that time frame according to data from CryptoSlam.

NFT Rolex meets DeFi loan

The 4K Protocol, a Web3 project that bridges real world assets to NFTs, has partnered with DeFi lending platform Arcade to launch decentralized finance loans against physically backed luxury watch NFTs.

The 4K protocol enables users to mint NFTs tied to their assets and guarantees a 1-to-1 ownership via storage providers and asset authenticators.

As part of the partnership, an NFT minted on 4K linked to a top-of-the-line Rolex Cosmograph Daytona was used to secure a loan from Arcade, marking an interesting, albeit risky, use case for tokenizing real world assets.

Party in the virtual USA

Former Disney star and widely popular musician Miley Cryus is gearing up for Web3 after filing two Metaverse and NFT trademarks relating to the words “Miley” and “Miley Cryus” with the United States Patent and Trademark Office.

According to an Aug. 22 tweet from trademark attorney Mike Kondoudis, Cyrus is planning to launch digital goods such as virtual clothing, footwear, sports gear and also entertainment services.

#MileyCyrus has filed trademarks for MILEY
and MILEY CYRUS claiming plans for:
✅ Clothing + Energy drinks
✅ Entertainment services
✅ Virtual currency management software
✅ Virtual clothing, footwear, sports gear
...and more!#Crypto #Web3 #Metaverse @MileyArmy @mileyworld pic.twitter.com/ng1PKxfAbR
— Mike Kondoudis (@KondoudisLaw) August 22, 2022

Other Nifty News:

Cryptocurrency risk management firm Elliptic has released a report suggesting that scammers have stolen more than $100 million worth of NFTs since in 2021.

Decentralized exchange Uniswap is reportedly in talks with multiple NFT lending protocols to build NFT financialization according to a social media post from Uniswap's head of NFT product Scott Lewis.

Miley Cyrus performs at birthday party for Mike Novogratz’s daughter

Coin Telegraph

Pop starlet Miley Cyrus was spotted performing at an extravagant private birthday party for actress Gabriela Novogratz, the daughter of Galaxy Digital CEO Mike Novogratz.

Pop starlet Miley Cyrus has performed at a private party hosted by Galaxy Digital CEO, Mike Novogratz.

According to an August 2 report from Dan’s Paper, the event was held to celebrate the birthday of the billionaire’s daughter, actress Gabriela Novogratz.

Cyrus donned a red leotard and performed an assortment of her hit songs including “Wrecking Ball” and “Party in the USA,” in addition to delivering covers of Sinead O’Connor, The Pixies, and Blondie, among others. The appearance was Cyrus' first performance since Lollapalooza 2021 in Chicago on July 29.

In line with the party’s Coney Island Mermaid Parade theme, Cyrus performed from a tent plastered with giant mermaids at Novogratz’s home in Amagansett, Long Island.

Page Six describes the event as resembling a carnival, noting the attendance of stilt-walkers, aerial acrobats, and Hot Dog Eating Contest champion, Joey Chestnut. Guests entered the party via an enormous entrance resembling a box office, with neon lights spelling the work “Novopark” above the entrance.

The party also hosted a silent disco where guests could hit the dancefloor wearing headphones playing their favorite tunes.

Novogratz, who has been described as “one of Wall Street’s hardest-charging party animals,” posted a picture to Instagram of himself donning a bandana, metallic blazer, no shirt, and painted-on abdominal musculature during the party alongside his son dressed as a sailor.

Novogratz has recently spoken on the Chinese mining crackdown and exodus, asserting that the events will bolster the international standing of North American miners, and may prove to be an overall positive for the sector with time.

At the end of June, Galaxy Digital issued a $20 million Bitcoin-backed loan to U.K.-based crypto miner, Argo Blockchain, to fund the construction of a data center in West Texas.

Miley Cyrus