"Everyone’s making so much money — can you please explain what’s an NFT?" asked Pete Davidson's Eminem.
The craze behind non-fungible tokens, or NFTs, has seemingly reached peak parody after NBC's famed Saturday Night Live sketch comedy featured it in a skit with United States Treasury Secretary “Janet Yellen."
In last night’s show hosted by former cast member Maya Rudolph, Yellen — portrayed by comedian Kate McKinnon — is speaking at a university economics class when a student asks her to address exactly what are non-fungible tokens through the medium of rap.
“What the hell’s an NFT? Apparently cryptocurrency. Everyone’s making so much money — can you please explain what’s an NFT?”
Look Labs, a contemporary beauty and lifestyle studio founded in Berlin, Germany, has launched the first digital fragrance encoded into a non-fungible token, or NFT, offering further evidence that the digital art craze continues to grow.
The fragrance is a digital version of the unisex Cyber Eau de Parfum, which was launched in October 2020 with a strong focus on environmental sustainability. The NFT collectible was designed in collaboration with Montreal-based artist Sean Caruso.
The scent of physical Cyber Eau de Parfum was “extracted using near-infrared spectroscopy and is represented in the art piece itself in the form of spectrum data,” Look Labs explained.
Can a new non-fungible token (NFT) platform finally solve the problem of ecosystem-wide royalties? NFT platform Recur announced on Thursday a $5 million seed round led by the DeFi Alliance, Delphi Digital, Ethereum co-founder Joe Lubin, and Gemini, among others.
The raise claims a number of notable superlatives, including the first seed investment in the NFT ecosystem from industry veteran Gary Vaynerch, as well as the largest seed round ever for a NFT project (Dapper Labs has raised many multiples more money over its three year fundraising history, but largely in Series A rounds).
Currently there are a number of platforms that allow NFTs to impart royalties to artists after every secondary market sale, including Foundation, Zora, and Euler Beats developer Treum. Recur’s key innovation will be a ERC token standard that will allow royalties to function regardless of platform.
This Daily Dose was brought to you by Cointelegraph.