The Sandbox

‘Tens of millions’ to enter Web3 through gaming in 2024 — GameFi execs

Gaming studio founders Yat Siu and Johnson Yeh think more people are coming to Web3 next year — and blockchain games are why.

Crypto market hype and the “commercial release” of several highly anticipated blockchain games will likely onboard “tens of millions” gamers to Web3 in 2024, according to Web3 gaming execs.

“2024 is a growth year in terms of bringing people on to Web3,” said Yat Siu, co-founder of gaming and venture firm Animoca Brands, in an interview with Cointelegraph.

In the last three months, around 1 million — or more — unique active wallets have played Web3 games daily, according to DappRadar data. However, Siu believes there could be up to 100 million more next year.

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Top five crypto winners (and losers) of 2022

Bitcoin and Ethereum are not part of the surprising list of five best and worst-performing cryptocurrencies for 2022.

Cointelegraph looks back on the best and worst-performing cryptocurrencies of 2022 among the top 100 assets by market capitalization. We used the highest and the lowest year-to-date (YTD) returns through the close of Dec. 25, 2022.

Overall, Cryptoindex.com 100 (CIX100), an index that tracks the 100 best-performing cryptocurrencies, fell nearly 68% YTD, suggesting most top coins underperformed in 2022.

CIX100 weekly price chart. Source: TradingView

Stablecoins are naturally omitted from the list below. Similarly, coins tracking the value of gold and similar mainstream assets have also been ignored.

Instead, the coins mentioned below include decentralized currencies, smart contract tokens, exchange tokens and others.

Top five crypto of 2022

1. GMX (GMX)

  • YTD return: 111%
  • Sector: Decentralized exchange
  • Market Cap: $379.4 million

GMX acts as a utility and a governance token within the GMX decentralized exchange (DEX) ecosystem and is the best-performing digital asset among the top 100 coins (excluding stablecoins).

GMX’s price uptrend mostly picked its cues from the collapse of FTX, a centralized exchange, and its listing on popular trading platforms — including Binance and Huobi Global — across 2022. In addition, the token rallied impressively in late November after its platform briefly surpassed its top DEX rival, Uniwap, in daily trading fees.

GMX price performance YTD. Source: CoinMarketCap

2. Trust Wallet Token (TWT)

  • YTD return: 92%
  • Sector: Payment platform
  • Market Cap: $570 million

Trust Wallet Token (TWT) serves as a utility and a governance token within the Trust Wallet ecosystem. The token moved lower in tandem with the rest of the crypto market, mostly in 2022, but like GMX, its upside momentum increased amid the collapse of the FTX exchange in November.

TWT/USD daily price chart. Source: TradingView

As Cointelegraph reported, the FTX’s collapse boosted mistrust for centralized exchanges, which may have prompted investors to move their funds to self-custody wallets like Trust Wallet. The speculation could have played a major role in boosting TWT’s valuation.

3. Unus Sed Leo (LEO)

  • YTD return: -3.5%
  • Sector: Centralized exchange
  • Market Cap: $3.44 billion

Unus Sed Leo (LEO) is native to the iFinex ecosystem. The token suffered losses in 2022, but at -3.5%, they were little compared to most top coins, including Bitcoin (BTC) and Ether (ETH), which lost over 65% in the same period.

LEO/USD daily price chart. Source: TradingView

One of the reasons why LEO outperformed most top-ranking assets could be iFinex’s pledge. Notably, the firm declared at the time of LEO’s private sale in 2018 that it would employ 27% of its revenue to buy back the tokens until the entire supply of 985.24 million units was removed from circulation.

IFinex also said it would use the funds it lost during the August 2016 Bitfinex hack to purchase LEO tokens. That explains why LEO rallied by more than 100% at the start of the year, given the uptrend came after the United States Department of Justice recovered 94,000 BTC from Bitfinex hackers.

The rally took LEO’s price to a YTD high of $8.15 in February. However, the token has dropped 55% since, though still remaining one of the best performers in 2022.

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4. OKB (OKB)

  • YTD return: -19%
  • Sector: Centralized exchange
  • Market Cap: $1.38 billion

OKB is the native token of the OKX exchange. It provides users discounts on trading fees, access to OKX’s initial exchange offering (IEO) platform, and voting rights for tokens to be listed on the exchange. 

OKB trended synchronously with the broader crypto market in 2022, including its 150% recovery after bottoming out at around $9.50 in June. The token’s bullish retracement occurred despite the absence of a major market-moving event, suggesting it had been mostly speculative.

OKB/USD daily price chart. Source: TradingView

Overall, OKB’s volatile recovery helped it limit its YTD losses compared to most top-ranking assets. 

5. The Open Network (TON)

  • YTD return: -33.5%
  • Sector: Smart contracts
  • Market Cap: $3.52 billion

The Open Network is a layer-1 blockchain ecosystem developed by the Telegram founders Nikolai Durov and Pavel Durov. Its native token, TON, trended downward in line with other top crypto assets during most of 2022 but recovered impressively ahead of the year’s close. 

TON/USD price performance YTD. Source: CoinMarketCap

TON’s recovery period coincided with back-to-back optimistic news. For instance, in October, Telegram announced that it would employ the Open Network to auction usernames. Similarly, the Open Network built a bot the next month that allows Telegrams users to trade cryptocurrencies in-app.

Nonetheless, TON failed to recoup all of its losses, still down 33.5% YTD at $2.36.

Related: Top-five most Googled cryptocurrencies worldwide in 2022

Worst five cryptos of 2022

1. Terra (LUNA)

  • YTD performance: -99.99%
  • Sector: Smart contracts
  • Market Cap: $604 million

Terra (LUNA) became a debacle for the cryptocurrency sector after its market valuation crashed by 99.99% in May. The unraveling started with the implosion of Terra’s algorithmic stablecoin TerraUSD (UST), marking one of the biggest busts in the crypto industry’s history.

LUNA/USD daily price chart. Source: TradingView

Terra’s implosion prompted its founder Do Kwon to suggest a fork to revive the project. Eventually, Terra underwent a chain split, with the old chain existing as Terra Classic and the new chain as Terra 2.0.

Luna Classic (LUNC) jumped nearly 100% after its launch in late May 2022 while LUNA (LUNA2) dropped around 40% in the same period.

2. FTX Token (FTT)

  • YTD performance: -98%
  • Sector: Centralized exchange
  • Market Cap: $307 million

FTX Token (FTT) served as a native token to FTX, which collapsed after facing a liquidity crisis in November. 

FTT/USD daily price chart. Source: TradingView

The token continues to trade across several exchanges but accompanies poor liquidity and volume. It is technically “dead” given the defunct status of FTX.

3. Solana (SOL)

  • YTD performance: -93.35%
  • Sector: Smart contracts
  • Market Cap: $4.11 billion

Solana (SOL), a layer-1 blockchain protocol, crashed 93.35% YTD due to a sequence of bad news all across 2022. That includes six network outages in the year, a $200 million hack on a Solana-based wallet and Solana’s association with FTX.

SOL/USD daily price chart. Source: TradingView

More bad coverage appeared in the form of accusations that Solana is not as decentralized as it claims to be, resulting in SOL being one of the worst-performers of 2022.

4. Axie Infinity (AXS)

  • YTD performance: -93%
  • Sector: Gaming/metaverse
  • Market Cap: $775 million

Axie Infinity Shard (AXS) serves primarily as the governance token for Axie Infinity, a play-to-earn (P2E) gaming ecosystem. It also acts as a legal tender in the Axie Infinity marketplace, where in-game nonfungible tokens (NFT) can be purchased.

The AXS market has consistently trended lower in 2022 due to underwhelming players turnout (which lowers the demand for tokens), a $650 million hack concerning Axie Infinity’s blockchain Ronin in late March and fears surrounding the unlocking of 8% of supply in October. 

AXS/USD daily price chart. Source: TradingView

AXS is down approximately 93% YTD, becoming one of the worst-performing assets in the current bear market.

5. The Sandbox (SAND)

  • YTD performance: -92.50%
  • Sector: Gaming/metaverse
  • Market Cap: $690 million

Like Axie Infinity, The Sandbox is a virtual platform where users can create, own and monetize their gaming skills using NFTs and The Sandbox (SAND), the platform’s utility token. But, despite initial success, the platform now has less than 500 unique users, according to data from DappRadar.

The lower turnout has affected SAND’s demand across spot exchanges, which, in turn, has pushed its price down 93.50% YTD, as shown below. Other factors behind the declining interest include a general lack of demand for riskier assets in a higher interest rate environment.

SAND/USD daily price chart. Source: TradingView

Other tokens that fell more than 90% YTD are Fantom (FTM), Avalanche (AVAX), Algorand (ALGO), Decentraland (MANA), BitTorrent (BTT) and others.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Metaverse trading volume plummeted 80%, but hype hasn’t decreased

A DappRadar report found that while trading volumes have taken a sharp hit during Q3, the average number of NFT sales for these 10 projects only decreased by 11.55%.

Third-quarter trading volume for the top 10 metaverse projects may have fallen 80% compared to the second quarter, but analytics firm DappRadar suggests that interest in virtual worlds still remains.

The metaverse sector has been hit with a fair amount of negative press as of late, particularly around suggested low user activity across certain platforms, such as Decentraland and Meta — reports which they have refuted.

DappRadar noted in an Oct. 20 report that while trading volumes have taken a sharp hit during Q3, the average number of NFT sales for these 10 projects only decreased by 11.55% compared to Q2.

DappRadar explains that lower trading volumes could merely reflect decreasing asset prices and not necessarily lack of interest, noting that:

“We consider this a bullish sign because it shows that the hype for these types of projects hasn’t decreased. Instead, the fall of cryptocurrency prices has affected the projects’ overall trading volume instead of a lack of interest.”

A caveat to these sentiments, however, is that eight of the top 10 metaverse projects saw significant decreases in their nonfungible token (NFT) sales counts during Q3, with Yuga Labs’ Otherside seeing a 74% decrease for the quarter.

The positive action was primarily driven by The Sandbox and former Minecraft-based platform NFT Worlds V2, which saw NFT sale count increases of 190% and 79% apiece.

DappRadar attributed this to the hype surrounding The Sandbox’s Alpha Season 3, which offers a host of new gaming experiences and collectibles. While NFT Worlds V2 being booted off of Minecraft may have been seen as a “buying opportunity” as the value of its NFTs dropped by 90% in Q3.

Virtual lands floor prices plummet

Meanwhile, DappRadar’s report indicated that the floor prices for NFT land plots had decreased by 75% on average, which may have been one of the reasons why trading volumes had decreased by so much.

Tanking floor prices: DappRadar

While the value of any piece of real estate, virtual or otherwise, is subject to swings, “Metaverse real estate is currently very depreciated,” DappRadar stated, adding that the declining prices are in accordance with the broader bear market of the crypto sector.

Related: Q&A: NFTs and metaverses will play a key role in gaming — as long as one key thing happens

DappRadar was forced to defend its metaverse data last week, which had been interpreted to mean that platforms such as Decentraland had less than 40 daily active users.

The firm alsnoted that its user data tool only tracks users’ interaction with a blockchain, usually in the case of transactions, and did not count “non-blockchain-based activities” such as non-spending users.

The Sandbox tweeted on Oct. 10 that it had hit 39,000 daily active users, and 201,000 monthly active users over the previous 30 days.

Decentraland also reported having 8,000 daily active users and 56,697 monthly active users as of Oct. 8.

The Sandbox’s Instagram account compromised, hackers try to rent BAYC NFTs

Hackers redirected The Sandbox followers to a fake raffle giveaway URL and even tried to rent Bored Ape NFTs from Instagram users.

Metaverse platform The Sandbox saw its Instagram profile hacked and used to try and rent out Bored Ape Yacht Club nonfungible tokens (NFTs) from a number of users on the social media platform.

The voxel-powered NFT platform’s profile was compromised by hackers on Thursday, promoting a fabricated raffle ticket event that touted a season 4 LAND giveaway to unsuspecting users.

The firm indicated that its two-factor authentication and other security measures had been bypassed to promote the fake giveaway. The profile’s website URL was changed, with one user claiming to have lost NFTs after clicking the fake link.

Cointelegraph managed to follow the link to the fake website — which prompts users to connect web-based wallets for a chance to win the fraudulent raffle.

In a bizarre twist, Sandbox co-founder and chief operating officer Sebastien Borget revealed that the hackers then reached out to a number of users on Instagram with Bored Ape Yacht Club profile pictures in an attempt to “rent” out the NFTs — offering 40 Ether (ETH) to use the BAYC NFTs for 24 hours.

According to Borget, The Sandbox managed to recover control of its Instagram account a few hours later, while stories promoting the fake giveaway were still live on the account at the time of publishing (4:00 pm EST).

The NFT-powered Metaverse platform has collaborated with major brands and celebrities since its Alpha launch in November 2021. The likes of Paris Hilton and Snoop Dogg have partnered with the platform, while notable clothing retailers like Adidas launched NFTs wearables that are compatible with The Sandbox and other Metaverse platforms.

The Sandbox team told Cointelegraph that it is working with Instagram’s security team to complete a security review and audit of the incident and would not be drawn to comment further until more details are known. 

Users affected by the incident can contact The Sandbox team through its support channel by emailing support@sandbox.game.

Playboy to launch first ‘MetaMansion’ in The Sandbox

Playboy is set to add to its Web3 offerings by launching a ‘MetaMansion’ that will host gaming, social and programmed events, along with future NFT collectible releases from the firm.

According to a July 11 announcement, this virtual version of the Playboy mansion will feature a host of gaming, social and programmed events, along with future NFT collectible releases from the firm.

Iconic and raunchy “lifestyle brand” Playboy has teamed up with NFT-based Metaverse gaming platform The Sandbox to launch the “MetaMansion.”

The MetaMansion also builds on Playboy’s Rabbitars NFT project, which consists of 11,953 tokenized bunny avatars that went for around $800 apiece in October 2021. Hodlers of these NFTs will soon be able to access exclusive experiences at the virtual mansion. However, the specifics and the launch date have not yet been detailed.

At the time of writing, the floor price for the Rabbitar NFTs on OpenSea sits at 0.19 Ether (ETH) or roughly $206, marking a 74.25% decrease since launch in October.

The Sandbox also stated that users would be able to snap up neighboring NFT land plots to the MetaMansion later this quarter. If anything from recent history is to go by, there could be strong demand for the land, given that someone paid $450,000 just to be Snoop Dogg’s neighbor in The Sandbox-based “Snoopverse” in December.

“Playboy is emblematic for its charm, lifestyle, and entertainment content that has transcended generations and that has already stepped into Web3 with early success,” said The Sandbox COO and co-founder Sebastien Borget.

Playboy first delved into NFTs in April last year after it rolled out a series of tokenized centerfolds via Nifty Gateway. While some brands dipped their toes into NFTs for what seems to be a quick cash grab, it appears Playboy may be here for the long term considering it is launching the MetaMansion amid a bear market.

Related: Believe it or not, metaverse land can be scarce after all

The Sandbox has managed to attract a long list of mainstream partnerships from popular figures and brands, which have helped get eyeballs on the project. To name a few, the platform hosts content tied to the Care Bears, Warner Music, The Walking Dead, Snoop Dogg, Deadmau5, Atari, The Smurfs, and Adidas.

According to data from CoinGecko, the price of The Sandbox’s native token SAND is down 7.9% over the past seven days to sit at $1.11 as of this writing. The total market cap stands at $1.4 billion, making it the fortieth largest crypto asset on the market. Overall, the price of SAND is down 86.8% since its ATH of $8.40 in late November.

Playboy to launch first ‘MetaMansion’ in The Sandbox

Playboy is set to add to its Web3 offerings by launching a MetaMansion that will host gaming, social and programmed events, along with future NFT collectible releases from the firm.

According to a Monday announcement, this virtual version of the Playboy mansion will feature a host of gaming, social and programmed events, along with future nonfungible token (NFT) collectible releases from the firm.

Iconic and raunchy “lifestyle brand” Playboy has teamed up with NFT-based Metaverse gaming platform The Sandbox to launch the MetaMansion.

The MetaMansion also builds on Playboy’s Rabbitars NFT project, which consists of 11,953 tokenized bunny avatars that went for around $800 apiece in October 2021. Hodlers of these NFTs will soon be able to access exclusive experiences at the virtual mansion. However, the specifics and the launch date have not yet been detailed.

At the time of writing, the floor price for the Rabbitar NFTs on OpenSea sits at 0.19 Ether (ETH) or roughly $206, marking a 74.25% decrease since its launch in October.

The Sandbox also stated that users would be able to snap up neighboring NFT land plots to the MetaMansion later this quarter. If anything from recent history is to go by, there could be strong demand for the land, given that someone paid $450,000 just to be Snoop Dogg’s neighbor in The Sandbox-based Snoopverse in December.

“Playboy is emblematic for its charm, lifestyle, and entertainment content that has transcended generations and that has already stepped into Web3 with early success,” said The Sandbox chief operations officer and co-founder Sebastien Borget.

Playboy first delved into NFTs in April last year after it rolled out a series of tokenized centerfolds via Nifty Gateway. While some brands dipped their toes into NFTs for what seems to be a quick cash grab, it appears Playboy may be here for the long term considering it is launching the MetaMansion amid a bear market.

Related: Believe it or not, metaverse land can be scarce after all

The Sandbox has managed to attract a long list of mainstream partnerships from popular figures and brands, which have helped get eyeballs on the project. To name a few, the platform hosts content tied to the Care Bears, Warner Music, The Walking Dead, Snoop Dogg, Deadmau5, Atari, The Smurfs and Adidas.

According to data from CoinGecko, the price of The Sandbox (SAND) is down 7.9% over the past seven days to sit at $1.11 as of this writing. The total market cap stands at $1.4 billion, making it the fortieth largest crypto asset on the market. Overall, the price of SAND is down 86.8% since its all-time high of $8.40 in late November.

Nifty news: Sandbox LAND on Polygon, ETH gain a tax loss and more…

An NFT trader pulled off a supposed tax write-off “masterclass” by booking a 74.2 ETH profit at a $52,000 loss, and print-on-demand firm Pixels.com has rolled out NFT merch support.

Popular Ethereum-based Metaverse gaming platform The Sandbox has unveiled a bridge that enables users to transfer their virtual NFT LAND and native SAND tokens over to Layer-2 network Polygon (MATIC).

While The Sandbox will live on Ethereum for the most part, the platform has emphasized that conducting SAND and LAND transactions on Polygon will result in lower gas fees, faster transaction speeds and greener interactions on the blockchain.

The firm stated via Twitter on June 29 that it is now ready to start deploying LAND on Polygon, and users will be able to receive a 10 mSAND cashback worth roughly ($10.60) on LAND ported over to the Layer 2.

mSAND is the new ticker for SAND tokens based on Polygon, and has identical pricing to Ethereum-based SAND. As part of the bridge going live, The Sandbox will soon roll out two staking programs for LAND and mSAND, and a new drop of LAND sales on Polygon.

The bridge to Polygon and the new staking programs have been in the works since December 2021, and the firm stated in a blog post that “300,000 mSAND will be injected” into the mSand/MATIC staking pool weekly, plus a bonus 200,000 mSAND for the first four weeks to incentivize early adoption. The specific percentage of staking rewards has not been detailed yet however.

According to data from CoinGecko, SAND is up 12.9% over the past seven days to sit at $1.06 at the time of writing. However, the Polygon-related announcement doesn’t appear to have had an impact on the price, as SAND is down 2.4% over the past 24 hours.

Stack ETH for your tax loss needs

Ryan Carson, the founder of NFT venture fund 121G has pulled off a “master class” by selling Moonbird NFT #6969 for $52,000 loss according to NFT trader OxQuit, as it represented a major 74.2 ETH gain while representing a tax write-off at the same time.

Carson, the former COO of the Moonbirds project, initially purchased the NFT for 69.49 ETH on April 16 when it was worth $212,000. On June 29, Carson sold the NFT for 143.69 ETH, worth roughly $160,000.

Tweeting to their 54,900 followers on June 30, OxQuit, who appears to own a Bored Ape Yacht Club NFT, labeled the move as a “master class in how to stack ETH while also booking a tax loss.”

Not everyone agreed however, with self-described NFT degen HollanderAdam commenting:

“Or he could have just not bought the bird. Waited and bought 143 ETH today for $160k. And then had an extra $52k in his account.”

As it stands, Carson would need to see a 32.5% ETH price increase for his ETH hodling strategy to see him back in the green, although he’d still be on the hook for capital gains tax if he were to sell.

Pixels.com launches NFT merch support

On June 29, Print-on-demand marketplace giant Pixels.com launched a new NFT service that enables owners to copy and paste their wallet address and promptly transform their tokenized artwork into merch.

The service is built for hodlers of Ethereum-based NFTs and it works by enabling Pixels to retrieve the NFT artwork and then generate “3D, photorealistic previews of each available product” on the website. Pixels offers customizable products ranging from t-shirts to canvas prints and stationery.

Print-on-demand companies are a handy tool for artists and content creators as it enables them to outsource the entire merch manufacturing and shipping process.

BAYC framed print: Pixels.com

Snoop Dogg says crypto winter is ‘great’

Iconic rapper and avid NFT collector Snoop Dogg has expressed thankfulness over the current crypto winter, as it is washing out bad players in the space and will result in “great things” moving forward.

Speaking with CNBC during NFT.NYC last week, Snoop stated that the current bear market has “weeded out all the people who weren’t supposed to be in the space and who were abusing the opportunities that were there.”

Related: Bear market will last until crypto apps are actually useful: Mark Cuban

The rapper went on to suggest that most of the projects and companies that survive the carnage will mostly be offering good products:

“Now it’s going to bring on great business, and moving forward, when the market comes back, there will only be great things to pick and choose from.”

Other Nifty News

Blockchain analytics firm Flipside Crypto has launched an online Software Development Kit (SDK) called ShroomDK, which is based on nonfungible tokens (NFTs) and provides an automated means to pull “comprehensive” blockchain data via software.

Catalonian director-general of innovation Daniel Marco has revealed that the government is working towards building a Catalonian metaverse called the Cataverse.

Nifty news: Sandbox LAND on Polygon, ETH gain a tax loss and more

An NFT trader pulled off a supposed tax write-off “masterclass” by booking a 74.2 ETH profit at a $52,000 loss, and print-on-demand firm Pixels.com has rolled out NFT merch support.

Popular Ethereum-based metaverse gaming platform The Sandbox has unveiled a bridge that enables users to transfer their virtual nonfungible token (NFT) LAND and native SAND tokens over to layer-2 network Polygon.

While The Sandbox will live on Ethereum for the most part, the platform has emphasized that conducting SAND and LAND transactions on Polygon will result in lower gas fees, faster transaction speeds and greener interactions on the blockchain.

The firm stated via Twitter on Wednesday that it is now ready to start deploying LAND on Polygon, and users will be able to receive a 10 mSAND cashback worth roughly $10.60 on LAND ported over to the layer 2.

mSAND is the new ticker for SAND tokens based on Polygon and has identical pricing to Ethereum-based SAND. As part of the bridge going live, The Sandbox will soon roll out two staking programs for LAND and mSAND and a new drop of LAND sales on Polygon.

The bridge to Polygon and the new staking programs have been in the works since December 2021, and the firm stated in a blog post that “300,000 mSAND will be injected” into the mSand/Polygon (MATIC) staking pool weekly, plus a bonus 200,000 mSAND for the first four weeks to incentivize early adoption. The specific percentage of staking rewards has not been detailed yet, however.

According to data from CoinGecko, SAND is up 12.9% over the past seven days to sit at $1.06 at the time of writing. However, the Polygon-related announcement doesn’t appear to have had an impact on the price, as SAND is down 2.4% over the past 24 hours.

Stack ETH for your tax loss needs

Ryan Carson, founder of the NFT venture fund 121G, has pulled off a “master class” by selling Moonbird NFT #6969 for a $52,000 loss, according to NFT trader OxQuit, as it represented a major 74.2 Ether (ETH) gain while representing a tax write-off at the same time.

Carson, the former chief operating officer of the Moonbirds project, initially purchased the NFT for 69.49 ETH on April 16 when it was worth $212,000. On Wendesday, Carson sold the NFT for 143.69 ETH, worth roughly $160,000.

Tweeting to their 54,900 followers on Thursday, OxQuit, who appears to own a Bored Ape Yacht Club NFT, labeled the move as a “master class in how to stack ETH while also booking a tax loss.”

Not everyone agreed, however, with self-described NFT degen HollanderAdam commenting:

“Or he could have just not bought the bird. Waited and bought 143 ETH today for $160k. And then had an extra $52k in his account.”

As it stands, Carson would need to see a 32.5% ETH price increase for his ETH hodling strategy to see him back in the green, although he’d still be on the hook for capital gains tax if he were to sell.

Pixels.com launches NFT merch support

On Wednesday, print-on-demand marketplace giant Pixels.com launched a new NFT service that enables owners to copy and paste their wallet address and promptly transform their tokenized artwork into merch.

The service is built for hodlers of Ethereum-based NFTs and it works by enabling Pixels to retrieve the NFT artwork and then generate “3D, photorealistic previews of each available product” on the website. Pixels offers customizable products ranging from t-shirts to canvas prints and stationery.

Print-on-demand companies are a handy tool for artists and content creators as it enables them to outsource the entire merch manufacturing and shipping process.

BAYC framed print: Pixels.com

Snoop Dogg says crypto winter is ‘great’

Iconic rapper and avid NFT collector Snoop Dogg has expressed thankfulness over the current crypto winter, as it is washing out bad players in the space and will result in “great things” moving forward.

Speaking with CNBC during NFT.NYC last week, Snoop stated that the current bear market has “weeded out all the people who weren’t supposed to be in the space and who were abusing the opportunities that were there.”

Related: Bear market will last until crypto apps are actually useful: Mark Cuban

The rapper went on to suggest that most of the projects and companies that survive the carnage will mostly be offering good products:

“Now it’s going to bring on great business, and moving forward, when the market comes back, there will only be great things to pick and choose from.”

Other Nifty News

Blockchain analytics firm Flipside Crypto has launched an online Software Development Kit (SDK) called ShroomDK, which is based on nonfungible tokens and provides an automated means to pull “comprehensive” blockchain data via software.

Catalonian director-general of innovation Daniel Marco has revealed that the government is working toward building a Catalonian metaverse called the Cataverse.