🖼️ NFTs are far from dead.

06/02/2021

This installment of my newsletter is free for everyone. I send this email daily.

If you would also like to receive it every morning, join the 40,000 other people who care about Business, Tech & Growth, by clicking the button below or share it with a friend who’d find it useful.

-Scott

Subscribe now

Sotheby Sells NFT of Worldwide Web Source Code for a Record $5.4 Million

2021 is proving to be the year of NFTs like how 2020 was the year of decentralized finance. Yet, in the last month or so, many in the crypto world believed that the demand for NFTs has fizzled out. After all, there was a 90% drop in the transactions involving NFTs. But, despite the drop in the number of transactions, the auction of the World Wide Web source code NFT by Sotheby turned out to be an outright hit. The auction was conducted on behalf of WWW inventor Sir Tim Berners-Lee, and it fetched $5,434,500.

(Image Source)

So, was the NFT of World Wide Web source code the most expensive NFT ever? Far from it, actually! There is no doubt that $5.4 million is a considerable sum, but the most expensive NFT ever sold was by an artist Beeple. It fetched over $69 million in March at Christie’s auction.

Amid the Improving US Economy in the Face of the Pandemic, a Record Decline was Observed in Weekly Jobless Claims

(Image Source)

In an obvious sign of an improving labor market in the United States, the World’s largest economy, the number of unemployment insurance filings dropped sharply to 364,000, which is 51,000 less than the previous week. It is the lowest number of unemployment insurance filings ever during this pandemic era.

The numbers are even better than the Dow Jones estimate of 390,000 unemployment insurance filings. The only other time when the numbers were on the lower side during the Covid era was in March 2020. It was just before the pandemic started causing havoc on the US economy.

Pennsylvania was leading at the state level with a drop of 18,031 unemployment insurance filings. Next on the list is Kentucky, where the number declined by 8,034, followed by California, where the numbers were down by 6,882.

Facebook May Turn Instagram Into a TikTok Clone!

TikTok has become a force of its own in the global social media landscape and has competed against the giants like Facebook, Instagram, Twitter, and more. Reports indicate that TikTok has amassed 80 million users in the United States, with females accounting for 60% of those users. Thus, many would even say that TikTok has beat these players in their own backyard.

Not Only a Photo Sharing App

Who would have thought that Facebook, the global social media giant, would have plans to turn Instagram, one of the world’s most popular applications, into a TikTok Clone? But that is about to become a reality, as per Adam Mosseri, the head of Instagram at Facebook. He said that Instagram is not merely a photo-sharing app anymore.

The Plans

In a video posted to Twitter, Adam Mosseri talks about the future of Instagram.

He said that Facebook has plans to test the “full screen, immersive, entertaining, mobile-first video” feature on Instagram along with some similar experiments that they will carry out over the next few months.

Adam confirmed that Instagram users will soon be able to see full-screen videos on their feed even from the users they do not follow.

Does this ring any bells? Of course, this is exactly what TikTok is doing.

With an Aim at Investing in Sustainable Technologies, BMW i Ventures Announces a $300 Million Fund

(Image Source)

The BMW i Ventures Fund, a part of BMW Group, a German multinational company, has announced a $300 million fund to invest in technologies focused on sustainable manufacturing, transportation, and supply chain. What’s even more interesting about the BMW i Ventures Fund is that it operates separately from BMW Group, its parent firm.

The First Fund

The venture arm of BMW Group had announced the first fund of €500 million, worth $525 million, back in 2016 when it moved its headquarters to Silicon Valley in the United States. With the period of its Fund I at its completion, any further investments that the venture fund makes will come from Fund II.

The difference Between Fund I and Fund II

Fund I & Fund II of BMW i Venture Fund differs in their focus. Fund II focuses on sustainability and zero emissions in general, whereas Fund I was all about autonomous and digital vehicle technology, customer acquisition, and advanced production. Overall, Fund I was investing in core car technology. Fund II, on the other hand, will be focused on the designing, manufacturing, and building aspect of car manufacturing.

TikTokers Will Soon be Able to Publish 3-minutes Long Videos

In an interesting update for all TikTokers, TikTok will soon roll out the ability to make videos of up to 3 minutes long to its users. The current maximum duration of the TikTok video is one minute.

The 3-minute video feature was already available to some top TikTok creators, as this feature was in test mode since December 2020. Many TikTok users may have come across these longer videos, especially from TikTok creators focused on making cooking videos. But now, this feature will be rolled out over the coming weeks to all TikTok users.

The Benefits for TikTokers

With the ability to make videos up to 3 minutes long, TikTok creators will have more flexibility in making videos. Also, they won’t have to rely on posting longer videos in multiple parts anymore. It does not mean that the creators will stop posting videos in many parts, as it is an attractive way for entire viewers to watch the entire video.

New podcasts & articles to your inbox.

No Spam. Promise.

Pin It on Pinterest