Crypto
Mercedes-Benz and Fingerprints DAO: A High-Speed NFT Venture
In a move that’s causing a stir in both the art world and the automotive industry, a fascinating partnership has taken shape between Fingerprints DAO, Dutch artist Harm van den Dorpel, and the revered car brand Mercedes Benz. Together, they’re taking a unique venture down the road less travelled – the creation of a Mercedes NFT collection, subtly echoing the aesthetics of automotive design.
This innovative collection, christened “Maschine,” is born out of Mercedes-Benz NXT, a recently unveiled facet of the automaker that represents its entry into the Web3 space.
Maschine adds a creative flair to the concepts of speed and perception. The collection offers a thousand unique tokens, each based on the Ethereum blockchain. Every piece in this collection is a visual tribute to the dynamics of a wheel in motion. Each artwork features a circular design teeming with intricate patterns. These patterns shift and change, mimicking the rotation of objects speeding up and generating an illusion of movement. This captivating visual effect draws inspiration from a phenomenon known as the wagon-wheel effect, where objects with spokes when spun and accelerated, appear to rotate in a direction opposing their actual movement and trajectory.
But Mercedes-Benz NXT isn’t simply content with the launch of this collection. As indicated by a series of tweets, the automaker is planning to release three “core” collections, with each collection meticulously conceived, designed, and overseen by the creative studio 0xNXT. In addition to this, Mercedes-Benz NXT has set its sights on initiating various satellite projects within its NFT ecosystem.
Aspiring collectors should mark their calendars for June 7, when the sale goes live via a Dutch auction.
Fingerprints DAO, a decentralized autonomous organization with a deep-rooted presence in the digital art space, plays a crucial role in this venture. The organization’s existing gallery of NFT art is a veritable wealth of digital artwork, painstakingly curated by a community-elected Curation Committee. Fingerprints DAO’s collection goes beyond the usual and includes remarkable pieces like Autoglyphs by Larva Labs and Loot Bags, among other unique works considered “inimitable and irreplaceable.”
Together, Fingerprints DAO, Harm van den Dorpel, and Mercedes-Benz NXT are pushing the pedal to the metal, speeding towards the ever-evolving intersection of art and technology.
However, Mercedes-Benz isn’t the only carmaker dipping its tires in this digital terrain. Other major players in the automotive world, such as Aston Martin and Renault, have also entered the Web3 arena.
In a nutshell, these car manufacturers are charting a new course, offering their clientele a unique driving experience. Only this time, instead of physical vehicles and open roads, they’re delivering this experience through digital art and virtual environments. This marks an exciting new direction in the overlap of art, technology, and the automotive industry.
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Bitcoin
Bitcoin exchange-traded products begin trading on the London Stock Exchange
The UK’s Financial Conduct Authority gave the go-ahead for the first bitcoin exchange-traded products (ETPs) to trade on the London Stock Exchange. WisdomTree and 21Shares, two asset managers, both put Bitcoin ETPs on the LSE today.
Just last week, the FCA said that Bitcoin ETNs could be added to the market. This allowed issuers who had been waiting for regulatory approval to bring Bitcoin ETNs to the LSE to start them today.
All of the ETNs give investors a way to bet on the price of bitcoin. At the moment, FCA rules say that only professional buyers can get to them. Alex Pollak, head of UK for 21Shares, said, “But the game-changer in the UK will be when the retail ban is lifted. Right now, there is a retail ban on trading bitcoin and ether ETNs.”
The launch today is a big step forward for both Bitcoin usage and London’s plans to become a centre for digital assets. There are already controlled bitcoin funds in the US, Europe, and Hong Kong, which puts pressure on the FCA to catch up.
Ophelia Snyder, co-founder of 21Shares, said, “The UK is one of the deepest and most liquid capital markets in the world.”
In order to open its market, the FCA is doing it in stages. Professional investors can now buy bitcoin ETNs on the London Stock Exchange (LSE), giving them their first controlled access to crypto assets.
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