This article is a part of Blockworks’ Web3 Watch, a weekly recap of the notable and not-so-notable events in the cultural aspect of the crypto world.
NETGEAR, the wireless provider, has joined forces with SuperRare to introduce its Meural Opus, an $800 digital picture frame that can connect to digital wallets and showcase NFTs. NETGEAR acquired Meural and its intelligent frame technology in 2018 and made a significant move into the NFT space in 2022 by collaborating with Metamask and becoming part of SuperRare’s DAO.
This launch combines two contrasting trends: the smart frame market, which Persistence Market Research predicts will grow by 3.1% annually over the next decade, and the NFT market, which has been on a downward trajectory.
The Meural Opus isn’t just a regular smart frame with NFT capabilities added as an afterthought. NETGEAR’s website promotes it as a novel way to “display your NFTs” and hints at an upcoming NFT drop inspired by crypto culture.
Poppy Simpson, the senior product and content manager for NETGEAR’s Meural line, believes in the long-term potential of NFTs, despite the recent market corrections. She states, “The current market adjustment is just that, an adjustment. The highs we witnessed in the NFT market when it entered the mainstream were not sustainable. Our research indicates relative stability in terms of price and volume in the ‘art’ segment of the market.”
One intriguing statistic:
According to Polymarket’s prediction market, there is a 35% chance that Sam Bankman-Fried will be sentenced to 50 years or more in prison.
Also worth mentioning:
SocialScan aims to transform a block explorer like Etherscan into a social platform. It offers similar features to other block explorers but labels wallet holders as “Whale” or “Notable NFT Holder” and allows them to follow and message each other.
The Italian soccer club AC Milan has sold blockchain-based squares on its field, one yard at a time. Owners of these “blocks” can earn rewards if notable events occur on their portion of the field.
After hitting a low point in early October, NFT trading volumes have experienced four consecutive weeks of growth.