Ornella Hernandez

<div id="highlights-block_62e459ad39403" class="highlights">
 <ul>
 <li>Meural’s WiFi-connected digital canvases connect to MetaMask and Coinbase wallets</li>
 <li>Teams will submit a proposal to the SuperRare DAO to vote on licensing and royalty model</li>
 </ul>
 
</div>



Netgear, widely known for its WiFi routers, first expanded into smart home products. Now, the Web2 standby is making a play to gain Web3 market share. 



The company first diversified into smart home products with a 2018 acquisition of Meural canvases and smart frames. The latest plan: to use the Meural digital displays to exhibit NFTs in partnership with digital art marketplace SuperRare collections and artists.&nbsp;



The collaboration entailed joining the SuperRare DAO and buying its governance token, RARE, in order to have a say in the direction of digital art on the platform. The company declined to disclose how many tokens it purchased and at what cost.&nbsp;



The goal is to co-develop a licensing and royalty model for displaying non-fungible tokens of curated SuperRare collections on the Meural smart frames.&nbsp;



The first step is for the Netgear and Meural team to submit a governance proposal to the RARE community.&nbsp;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">ICYMI, SuperRare and <a href="https://twitter.com/MeetMeural?ref_src=twsrc%5Etfw">@MeetMeural</a> <a href="https://twitter.com/NETGEAR?ref_src=twsrc%5Etfw">@NETGEAR</a> have partnered up 💎🖼️. What does this mean to CryptoArt? Check out this 🧵 to learn all about it&mdash; SuperRare 💎 (@SuperRare) <a href="https://twitter.com/SuperRare/status/1553071098543087617?ref_src=twsrc%5Etfw">July 29, 2022</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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John Crain, chief executive officer at SuperRare, told Blockworks the transition of the traditional art world in response to non-fungible tokens (NFTs) makes for an ideal entry point for the firm.



“There&#8217;s roughly 10,000 serious <a href="https://cms.blockworks.co/3-5-million-creators-are-cashing-in-on-digital-art/" target="_blank" rel="noreferrer noopener">traditional art collectors</a> in the world,” Crain said, referring to art collector database Larry’s List. “ It&#8217;s like a $60 billion market.” 



SuperRare has a 10% artist royalty stipulation baked into the smart contracts to ensure their compensation from secondary sales, but, as Crain said, “We don&#8217;t really have a standard for how to do this with NFTs in the context of streaming.”



Meural has an integration with crypto wallets Coinbase and MetaMask, and a selection of dynamic, programmable NFTs in the Meural library which encompasses over 30,000 licensed artworks.&nbsp;



In the case of its subscription offering, Crain questioned how they can accurately measure what members are currently displaying on their home or office walls and then have the smart contract “do the math and distribute funds where appropriate.”



He likes to envision a set of Legos, where the most basic Lego is the collectible or a piece of fine art, and that media asset has a base license that makes the NFT collectable.&nbsp;



Poppy Simpson, senior product and content manager for Netgear’s Meural product line, told Blockworks there’s a parallel to be drawn with Spotify’s real-time streaming royalty system, saying most involved artists have been licensed through third parties like publishers and record labels.



“This is a model, which not only does it try and align the artists and the collectors incentives, but it cuts out a lot of the middlemen, which is essentially skimming off the profit of the creator,” Simpson said.



She added that “artists are always on the forefront of technology,” and that NFTs increase the possibilities in terms of the number of people that can get involved, mainly collectors



The current overall market capitalization for the entire NFT market is up to $24.57 billion — a 3.4% <a href="https://cms.blockworks.co/art-blue-chip-nfts-drive-q2-nft-market-growth/" target="_blank" rel="noreferrer noopener">increase</a> from the start of the year — according to data from NFTGo at the time of publication, and it&#8217;s a very new market compared to that of traditional fine art. 



“These two worlds are coming together, so we&#8217;re gonna see the user numbers dramatically increase,” said Crain.



In order to capitalize on the cultural collision, SuperRare has opened up a pop-up gallery in downtown New York through August 28, featuring a rotating program of five NFT exhibitions using Meural frames.&nbsp;



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Netgear Joins SuperRare DAO to Develop NFT Art Licensing Model

Morgan Chittum

<div id="highlights-block_61e9bf04be8fe" class="highlights">
 <ul>
 <li>That would make Meta the first major non-crypto company to integrate an NFT marketplace</li>
 <li>+Other social media platforms are keying in on NFTs, such as Twitter, which launched a profile-picture service on Thursday</li>
 </ul>
 
</div>



Meta, formerly known as Facebook, has made plans to dive into the world of non-fungible tokens, the <a href="https://www.ft.com/content/2745d50b-36e4-4c0a-abe0-e93f035b0628">Financial Times</a> reported Thursday.&nbsp;



Two sources familiar with the matter told the FT that Meta has discussed launching an NFT marketplace, where users can buy and sell the blockchain-based collectibles. Instagram and Facebook, additionally, are said to be developing a feature to allow users to showcase NFTs on their profiles. 



Twitter on Thursday <a href="https://techcrunch.com/2022/01/20/twitter-blue-subscription-users-are-first-gain-access-to-a-new-nft-profile-picture-feature/">rolled out </a>an NFT profile-picture feature for subscribers to its premium offering.&nbsp;



Per the FT, the plans are “fast-developing” — describing efforts as “early stage” and “could yet change.” Meta did not immediately respond to Blockworks request for comment.&nbsp;



“In the coming years, I expect people will transition from seeing us primarily as a social media company to seeing us as a metaverse company,” CEO Mark Zuckerberg said during an <a href="https://kfindtech.com/zuckerberg-says-facebooks-future-lies-in-virtual%E2%80%8A-metaverse/">earnings call</a> in the second quarter&nbsp; of 2021.&nbsp;



Meta’s spending last year alone of augmented and virtual reality research was projected to top $10 billion, and <a href="https://videoweek.com/2021/11/17/the-knock-on-effects-of-facebooks-huge-metaverse-spending/">analysts</a> predict that Meta will spend $60 billion to carry out its metaverse vision.&nbsp;



Although other trillion-dollar Web2 companies like Microsoft and billion-dollar companies such as Fortnight developer Epic Games have jumped on the metaverse bandwagon, experts say their Web3 integrations are still a ways off.&nbsp;



According to Web3 startup Unstoppable Domains founder Matthew Gould, a true metaverse can’t exist without combining crypto and big tech company inventions like VR and AR.&nbsp;



“It’s actually the intersection of these two worlds where you can create the metaverse,” Gould told Blockworks. “I think fundamentally you&#8217;re not going to have the adoption of the metaverse without the concurrent adoption of crypto.”



Colin Fitzpatrick, founder and CEO of Animal Concerts, an NFT startup focused on virtual concerts in the metaverse, told Blockworks that the prospects of the company getting into NFTs “are highly likely,” but holders of the digital assets should be careful when using Meta.&nbsp;



“The responsibility will fall on the NFT community’s shoulders to make sure Meta behaves fairly and doesn’t try to monopolize profits and what is supposed to be a democratic industry,”&nbsp; Fitzpatrick said.



Meta Platforms Inc. (FB) traded 1.2% higher to $323.46 per share following the news.



Correction (Jan. 20, 20:58 UTC): Article previously stated Apple is involved with metaverse development. The company has said it would not utilize its MR headset for the metaverse.



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