The fractionalized NFT market grew past the $200 million range seven months ago in December 2021, during the height of an NFT craze. Since then, the fractionalized NFT market has lost more than 76% in value, dropping to an overall market capitalization of around $50 million today.

Right now, the Doge fractionalized NFT project is the leader in terms of market valuation, with $19.71 million. The second most valuable fractionalized NFT project today is Etherrock #72 (PEBBLE), with $5.96 million.

Elsewhere, the Bored Ape Yacht Club (BAYC) saw a significant reduction in sales volume due to negative market sentiment during the seventh month of the year. - a similar fate to more than 90% of NFTs.

It’s also worth noting that the first week of August saw a 3.58% drop in aggregate market cap for the 7 metaverses listed on OneLand. These include Decentraland, Voxels, The Sandbox, NFTWorlds, Otherside, Somnium Space, and Worldwide Webb.

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Samsung Electronics recently signed a memorandum of understanding (MOU) with six companies to build the “Galaxy NFT ecosystem,” according to a report. The signing paves the way for Samsung Electronics to start work on connecting the virtual and real world using NFTs.

The six companies that signed the MOU with the electronics giant include Alllink, Digital Plaza, e-cruise, Shilla Duty Free, Show Golf, and Theta Labs. Theta Labs is Samsung Electronics’ NFT issuance partner while Alllink is the authentication solution partner.

An unidentified company official remarked, “Samsung Electronics will continue to innovate the customer experience that connects the virtual world and the real world using NFT with various partners.”

The report also said that Samsung plans to extend benefits such as including discounts to users or holders of the New Galaxy NFT.

In other news,

• Pinata NFT Service raises $21.5M Series A. Read More
• Starbucks heading into NFTs and Web3. Read More
• Magic Eden Wants to Build an ApeCoin NFT Marketplace Just for Bored Apes. Read More
• GameStop's NFT marketplace sold stolen indie games. Read More
• New EU Law Will Regulate NFT Collections Like Cryptocurrencies. Read More
• Vitalik Buterin proposes stealth addresses for anonymous NFT ownership. Read More

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The Sandbox announced yesterday, August 9, that it has partnered with Entrepreneur, DJ, and OG crypto queen Paris Hilton to build her virtual Malibu Mansion. In collaboration with Hilton’s firm, 11:11 Media, The Sandbox is bringing the star’s world to the metaverse. With this move, her fans and community will get an all-new means to connect with the star.

Hilton’s virtual Malibu Mansion will enable her fans to connect with her in new ways. For instance, Hilton will host social and community events, including rooftop parties and glamorous social events. She is planning a unique Halloween event at her LAND. Moreover, fans can expect 11 new Sandbox avatars representing Paris Hilton’s various personalities.

“I am beyond excited to expand Paris World further into the metaverse,” said Paris Hilton. “In collaboration with my amazing partner, The Sandbox, my team is dedicated to building an incredible real-life experience for my fans.”

In other news,

• Jim Carrey Debuts ‘Goon in the Moonlight’ Via Grand SuperRare Auction. Read More
• Damien Hirst Succumbs to the Lure of the NFT. Read More
• Ja Rule Joins Celebrity NFT Ranks With HBCU Donation. Read More
• The Weeknd Invests $70k in FVCKRENDER NFTs. Read More

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World Table Tennis (WTT), the events arm of the sport's governing body, has announced it is pursuing Web3 initiatives in partnership with non-fungible token startup NFT Tech – in an effort to expand the game.

The multiyear tie-up will see WTT issue “digital collectibles, metaverse experiences, play-to-earn and move-to-earn gaming,” according to a press release. WTT runs more than 50 events a year.

“In many cases, we will be appealing to first-time wallet holders,” NFT Tech CEO Adam De Cata said in an email. “Using NFT technology, we will actively explore the 'IRL' utility and access possibilities such as tickets to tournaments, training facilities and online broadcasts to VIP events.”

In other news,

• NFL's Tom Brady loses at least $194,000 on Bored Ape NFT. Read More
• Major League Soccer Really 'Signed' a Bored Ape NFT As a 'Digital Athlete'. Read More
• Illinois Partners With NFT Pioneers Fantastec SWAP. Read More
• OWNIC Announces Release of the First-Ever Dynamic Sports NFTs. Read More

Global entertainment brand, Superplastic, has announced the final installment of its Gucci collaboration, so holders of its infamous SUPERGUCCI collection may find a welcome surprise lurking in their wallets.

Back in January, both companies teamed up to launch a highly stylized NFT featuring Superplastic’s on-point digital character, Jankey, resplendent in Gucci’s trademark designs. Now, Jankey’s partner in crime has arrived on the scene in the shape of a massive airdrop.

Those holding one of the original NFTs at the time of the snapshot will see their wallets graced with the new collectible. Therefore, completing the anarchic duo as they prepare to inflict their own brand of mayhem on the blockchain. In addition, holders will also qualify to redeem a high-quality handmade ceramic sculpture direct from the Bitossi factory in Italy.

Elsewhere,

• Lamborghini launches "The Epic Road Trip" NFT Collection. Read More
• Tiffany & Co.’s NFTiffs Rakes in Over $12.5 Million. Read More

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