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Gucci Enters Its Next Century of Art and Fashion With an NFT Collection That Includes a GG-Monogrammed Bionic Body – artnet News

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The brand is presenting ‘The Next 100 Years of Gucci’ exhibition on its experimental online platform Vault.
Dorian Batycka, June 24, 2022
What if the house that Gucci built was turned into an NFT? Starting on June 23, fans of the Italian fashion label are being given a unique chance to purchase NFTs that explore the past, present and future of Gucci’s 100-year history. 
Together with the platform SuperRare, Gucci is presenting a series of collectibles that take a kaleidoscopic view of the iconic brand’s heritage. 
Sasha Katz’s NFT artwork The Eyes of The Tiger (2022). Courtesy of Vault and SuperRare.
From multi-dimensional Flora prints to GG-monogrammed bionic body parts, visitors to Gucci’s online metaverse are now able to purchase several digital items, all of which are priced in the Ethereum cryptocurrency.
The works are being presented in the exhibition “The Next 100 Years of Gucci,” on the brand’s experimental online platform Vault, which was launched in 2021 by Gucci’s creative director, Alessandro Michele, to mark the house’s centennial. 
For its first exhibition, Vault has teamed up with 29 artists to reflect on the house’s major milestones over the past century. Michele invited artists like Alanna Vanacore, D.ARTA, Drew Young, Diberkato, Sasha Katz, Slam J, Tim Maxwell, Tyler Spangler, and others to examine and reinterpret the brand’s legacy, albeit with an eye towards the future. 
Aliina Kauranne’s NFT artwork GG Quartet (2022). Courtesy Vault Art Gallery and SuperRare.
The project is being presented and auctioned directly on Vault’s website, in three sets of auctions taking place this summer (June 23–July 1; July 7–15; July 21–29). 
Gucci has also teamed up with the artist, philosopher, and writer Rowynn Dumont for a series of Twitter Spaces conversations about the nature of creating, and collecting art and fashion, in the 21st century. 
This is not Gucci’s first foray into the land of digital art, however. In May 2021, it became the first luxury brand to delve into NFTs after auctioning a film inspired by their “Aria” collection, which was sold via Christie’s auction house for $25,000.
 

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NFT

FASB Excludes NFTs, Some Stablecoins From Crypto Accounting Project – The Wall Street Journal

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Michael Saylor can't stop: MicroStrategy now holds 130,000 Bitcoin – Cointelegraph

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MicroStrategy bought an additional 301 BTC for $6 million at an average price of $19,851, the company’s executive chairman announced on Twitter.
MicroStrategy now owns 0.62% of all the Bitcoin (BTC) that will ever be mined. The company’s executive chairman, Michael Saylor, announced that the company bought another 301 BTC for roughly $6 million at an average price of $19,851 per BTC. 
In sum, the company is one of the planet’s largest holders of the asset, owning 130,000 BTC. Apparently, Saylor likes round numbers, buying 301 BTC to reach the 130,000 milestone. 
MicroStrategy has purchased an additional 301 bitcoins for ~$6.0 million at an average price of ~$19,851 per #bitcoin. As of 9/19/22 @MicroStrategy holds ~130,000 bitcoins acquired for ~$3.98 billion at an average price of ~$30,639 per bitcoin.https://t.co/5kYW98ij4I
Due to plunging price action, the company’s investment is down substantially in U.S. dollar terms. MicroStrategy’s entry price is roughly $30,639 per BTC, and the Securities and Exchange Commission filing states that the firm has bought 130,000 BTC at an aggregate purchase price of approximately $3.98 billion.
If MicroStrategy started stacking sats (buying Bitcoin) at today’s prices, it would have spent $2.48 billion on 130,000 BTC. Saylor is currently at a paper loss of over a billion dollars.
According to the SEC filing, the company made the purchase with “excess cash.” Saylor recently stepped down as CEO of the company to focus on buying more Bitcoin, while Washington, DC has taken aim at the billionaire in a tax evasion lawsuit.
Bitcoin enthusiasts were quick to commend Saylor’s buy. Referred to as the “Chad” or “Gigachad,” Saylor’s conviction and commitment to buying Bitcoin despite the investment being underwater has garnered both a devout following and numerous critics.
Related: Bitcoin better than physical property for regular folks, says Michael Saylor
Other large wallet addresses include that of crypto exchange Bitfinex, which holds 170,000 BTC, and a Binance reserve wallet that holds 125,000 BTC. Binance is the world’s largest crypto exchange and has several wallets holding six figures of Bitcoin. Regarding individuals, Saylor has stated that he holds Bitcoin, and FTX CEO Sam Bankman-Fried and Binance CEO Changpeng Zhao are also “hodlers” — a meme that became popular jargon for holding crypto.

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NFT Collections Will Be Regulated Like Cryptocurrencies Under EU’s MiCA Law, Official Says – CoinDesk

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