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Young Monday: Paris Hilton, The Merge and NFT news for Instagram

FI
Filippo Iachello

5 min

The Merge, The Sandbox and Paris Hilton, NFTs on Instagram

Paris Hilton enters The Sandbox’s metaverse, Instagram’s NFTs soon available in more than 100 countries, and The Merge on the Goerli testnet is a hit!

For August, we present you the hottest Young Monday of the year! So much for Crypto Winter. Whether you’re chilling at the beach, firing up the barbecue or hiking in the mountains, a question might suddenly come to your mind: what on earth happened to Paris Hilton? In the real world she is a DJ (and has a dog called Ether Reum), but it’s in the virtual world that she is at her best. Until yesterday, her Paris World could only be found on Roblox, an MMO video game developed and published in 2006. However, it will soon also be possible to join her in the metaverse of The Sandbox. On Thursday, the 9th of August 2022, the heiress made the announcement on her Twitter profile! The anticipation for The Merge grows day by day, this week the last test on the Goerli network was completed and everything went according to plan! Mark Zuckerberg announces that his NFTs will be available in more than 100 countries, but what will Instagram’s NFTs look like and where can you buy them?

Paris Hilton moves into the metaverse of The Sandbox

Paris Hilton has long topped the list of celebrities exploring the world of NFTs and the metaverse. The heiress has chosen The Sandbox’s metaverse as her next virtual home. The Sandbox is one of the most popular metaverses, is built on Ethereum‘s blockchain and allows users to create customised environments and gaming experiences. In July 2022, the metaverse announced the arrival of Alpha Season 3, which will introduce some new features such as customisable avatars. After news of the new features spread, The Sandbox saw an increase in active users of over 90 per cent. The team will build a villa in The Sandbox metaverse identical to the one the showgirl owns in Malibu. Paris Hilton will not need an architect! This is not Hilton’s first experience in the virtual world; back in 2015, she had already promoted the construction of her virtual world, Paris World on Roblox, an MMO (online multiplayer) video game that does not use blockchain technology!

However, Paris Hilton is not the only celebrity to have partnered with The Sandbox. In fact, the metaverse is already populated by celebrities such as Snoop Dogg and Gordon Ramsey. In connection with this trend, the American consumer protection organisation Truth in Advertising (TINA) alerted seventeen celebrities for promoting NFTs without proper warnings. These names include Gwyneth Paltrow, Floyd Mayweather, Tom Brady as well as the star of this Young Monday, Paris Hilton. The advice the organisation gives to celebrities is to clearly disclose any material connection to the NFT companies they are promoting. There is no denying that celebrity interest in NFTs has accelerated the adoption of these assets. However, one must not forget to shop consciously.

New details about NFTs on Instagram revealed. How and where can we buy them?

Mark Zuckerberg announced on the 4th August 2022 that NFTs on Instagram will soon be available in more than 100 countries. The feature that allows people to link their crypto wallets to Instagram has already been available to a limited number of US residents since May 2022. But how can NFTs be purchased on Instagram and with which cryptos?

The wallets that will be able to interact with the social network are Metamask, Trust Wallet, Rainbow, and Dapper, while the supported blockchains will initially be Ethereum, Polygon, and Flow. NFTs will then be able to be purchased with the native assets of these chains, i.e. in ETH, MATIC, and FLOW. It is not yet clear, however, whether the process of buying and selling NFTs on Instagram will take place directly on the social network or whether one will be redirected to NFT marketplaces such as OpenSea or LooksRare.

Posts containing NFTs will be distinguishable from classic posts thanks to a shimmering effect, and the content creator will also be tagged within the non-fungible photo or video. According to Meta – formerly Facebook and the current owner of Instagram – the initiative is aimed primarily at supporting content creators. In fact, artists will have the opportunity to earn money from their art, which is already possible thanks to Web3 technologies, also on Instagram. If you are a fan of NFT you will soon be scrolling through Instagram all day looking for the latest trends!

The final test for The Merge was a success. The countdown begins!

The Merge is definitely the topic of the year in the crypto world. The update will give birth to Ethereum 2.0, a version in which the consensus mechanism will be changed from proof-of-work to proof-of-stake. According to the developers, The Merge will allow Ethereum to reduce its environmental impact and greatly limit inflation. The latest news from Young Monday is that from Wednesday, the 10th of August 2022,  the last phase of testing on the Goerli network was successfully concluded. This is a testnet, they are almost identical copies of the main blockchain and are used for testing. The testing period began some time ago with the launch of a new dedicated testnet, called Beacon Chain, which started phase 0. Phase 1, on the other hand, began last June when testing started on the classic ETH testnet. The first was Ropsten, then Sepolia and finally Goerli itself, which concluded this phase a few days ago. Everything is therefore ready for The Merge, which should officially take place on the 19th of September 2022.

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