IT Brief Australia logo
Technology news for Australia's largest enterprises
Story image

Lost Socks NFT’s to start minting mid February

By Sean Mitchell
Sun 6 Feb 2022

Non-fungible tokens have become mainstream. One of the most well known has been Party Bears, whose value has increased massively and currently trade on OpenSea for around 2 Ethereum or higher.

Some see NFT's as fine art in a digital format, while some see them as the clothes that we will inevitably be wearing in the coming Metaverse.

A new NFT project with some big-name backers is launching next week, with the minting process occurring the following week.

The company is focused on your lost sock collection. They say that your lost socks from the real world are found in the Metaverse.

What this means in layman's terms is that the company is creating (minting) 5,000 limited edition hand-drawn characters, all with unique looks. The looks are made unique with over 150+ possible traits, including backgrounds, sock hands, eyewear, accessories and much more.

Pricing is yet to be announced, but recent similar NFT's have been minting at between 0.1 and 0.3 Ethereum.

Once sold out, their first order of business is to make a $15,000 donation to their selected children's charities (Shoesthatfit & Kidscan).

"We believe all children deserve a pair of socks, shoes, and opportunity in the world. We call this our Sock 4 Sock initiative, and we look forward to growing our impact with future donations from our IRL product sales and any future mints." said the Lost Socks team.

Both left and right socks are being minted, with the left being rarer and known as 'enlightened' socks. Out of the limited-run, one in five will be left socks.

"The Lefties are a humble, accepting, and patient tribe of Lost Socks blessed by the Laundry God and offered sanctuary in Sock World. The Laundry God smiled upon the Lefties and through the Great Darning, they were granted Enlightened Socks status. These socks are rare and hold more power in the Sock World."

Phase two is to launch SockWorld, which is being created in The Sandbox metaverse. Each of the Lost Socks minted will generate $THREAD tokens, which in turn will enable you to mint VX NFT's so you can move your Lost Sock NFT into SockWorld.

"We've partnered with a world leading metaverse agency that has developed some of the biggest brands on The Sandbox over the past year. We will share the metaverse builders with you all soon. We can't wait to launch Sock World with you all."

There are even hints that the company might launch their own sock brand IRL (in real life).

More information about the Lost Socks NFTs can be found on their website here.

Related stories
Top stories
Story image
ABI Research
75% of 5G networks to advance to 5G-Advanced by 2030 
5G-advanced is set to launch in 2025, and 75% of 5G networks will upgrade by 2030, according to ABI Research. 
Story image
Digital Transformation
Munro Footwear Group chooses Boomi to assist with digitisation strategy
Munro Footwear Group (MFG) has selected Boomi to assist with its eCommerce and digital transformation roadmap goals.
Story image
Telecommunications
WiFi as a Service market to reach $26 billion through 2032
As a result of the easy management of wireless infrastructure over cloud services, WaaS is experiencing rapid growth.
Story image
Southern Cross Cable
Southern Cross Cable launches the SX NEXT cable to connect NZ to the world
The new Southern Cross NEXT fibre cable (SX NEXT) is set to connect Australasia to the US and further enhance connectivity between New Zealand, Australia, and the US.
Story image
Artificial Intelligence
Siemens expands NVIDIA partnership for industrial metaverse
Siemens is expanding its partnership with NVIDIA to enable the industrial metaverse and increase the use of AI-driven digital twin technology.
Story image
Cybersecurity
Delinea’s Joseph Carson recognised with OnCon Icon Award
Delinea chief security scientist and advisory CISO Joseph Carson has been recognised as a Top 50 Information Security Professional in the 2022 OnCon Icon Awards.
Story image
Low-code
Appian unveils low-code certification program in Australia
Appian has announced a program to provide the next generation of low-code developers with access to education on the subject and certification to foster career opportunities.
Story image
Cybersecurity
How organisations can mitigate IoT and IIoT security risks
IoT and IIoT come with inherent risks because they are often deployed faster than they can be secured, putting organisations in danger of cyber threats. Here are tips on how to mitigate those risks.
Story image
Solutions
Progress launches latest version of network visibility solution
In Flowmon 12 network solution, Progress has expanded its support for public cloud provider flow log monitoring and launched new features.
Story image
Accounting
Four factors to consider when choosing the right job accounting solution
Progressive job-based businesses can achieve success by strengthening their ability to quantify every cost attributable to the delivery of an outcome for a customer.
Story image
Artificial Intelligence
Accenture shares the benefits of supply chain visibility
It's clear that gaining better visibility into the supply chain will help organisations avoid excess costs, inefficiencies, and complexity to ultimately improve their bottom line.
Story image
Metaverse
How the metaverse will change the future of the supply chain
The metaverse is set to significantly change the way we live and work, so what problems can it solve in supply chain management?
Story image
Multi Cloud
Cloud is a tool, not a destination
For many years, “cloud” has been thought of as a destination which has led to a misguided strategy that sees an enterprise trying to shift all its applications to a single cloud provider – regardless of the specific needs and nuances of each individual workload.
PwC
PwC's Consulting Business and PwC's Indigenous Consulting are proud to play an important role in helping Australian Indigenous Mentoring Experience build IMAGI-NATION, a free online university for marginalised communities around the world.
Link image
Story image
ASI Solutions
Western Australia CUA panel picks ASI as preferred supplier
Western Australia's Common User Arrangement (CUA) panel has chosen ASI Solutions as a preferred supplier for device hardware.
Story image
Artificial Intelligence
Dynatrace extends automatic release validation capabilities
Dynatrace has extended its platform release validation capabilities to improve user experience at every stage of the software development lifecycle.
Story image
Airwallex
How Airwallex helps businesses achieve globalisation success
As markets continue to shift, businesses need to be able to provide the same quality of service for customers regardless of where they are located around the world.
Story image
Artificial Intelligence
Eight top DevSecOps trends to support IT innovation in 2022
The use of DevSecOps practices is growing, as it is increasingly seen as the best way to produce high-quality and secure code. So what are the current trends?
Story image
Artificial Intelligence
Decision Inc. partners with provenio.ai to expand offering
Decision Inc. Australia has partnered with provenio.ai to expand its offering to clients in the retail, FMCG, manufacturing, supply chain and logistics sectors.
PwC
WSLHD and PwC’s Consulting Business came together to solve through the challenges of COVID-19. A model of care was developed to the NSW Health Agency for Clinical Innovation guidelines with new technology platforms and an entirely new workforce.
Link image
Story image
Sustainability
Honeywell named Frankston facility services provider
Honeywell has been named the joint facility services provider for Frankston Hospital’s AU$1.1 billion redevelopment.
Story image
Malware
Colt launches new SASE Gateway solution with Versa
Colt Technology Services’ customers now have access to an integrated full SASE solution that brings together SD WAN and SSE features.
Story image
Adobe
Marketplacer and Adobe accelerate partnership for enhanced commerce solutions
Marketplacer has accelerated its partnership with Adobe in order to further enhance the global commerce marketplace.
Story image
Enterprise Resource Planning / ERP
Five ways your ERP is letting you down and why it's time for a change
Wiise explains while moving to a new system may seem daunting, the truth is that legacy systems could be holding your business back.
Story image
CSG
To win at 5G, telcos must tame their quoting chaos
The catalogs of CSP (communication service providers) market offerings are set to explode as new digital services emerge, powered by B2B2X business models.
Supply chain
Discover the 4 critical priorities for wholesale distribution businesses in FY23. Are you worried about how supply chain issues may affect your business in 2023?
Link image
Story image
Artificial Intelligence
Vectra AI named as AWS security competency partner
Threat detection and response company Vectra AI has announced that it has become an Amazon Web Services Security Competency Partner.
Story image
Data Protection
Five signs your business is ready to move to the cloud
Many organisations are thinking about moving to the cloud. But what are the signs you are ready, and what are the reasons to move?
Story image
Payroll
How New South Wales state departments achieved cloud migration success
State departments in New South Wales are heading to the cloud to achieve better workflow solutions, and one company is paving the way for their success.
Story image
Wiise
Four things wholesale distributors need to consider for FY2023
In a post-pandemic world, there are many things for a distribution business to juggle. ERP solutions company Wiise narrows down what companies should focus on.
Story image
Media
Registrations for the W.Media Sydney Cloud and Datacenter Convention 2022 now open
Are you a C-Level executive looking to enhance your knowledge in the cloud and data center space in order to get the best results for your company?
Story image
Telstra
Ericsson and Ciena, Telstra enhance service capacity for Telstra's optical network
Ericsson, Telstra, and Ciena have announced new enhancements to Telstra's Next Generation Optical Network, which will increase the service capacity of Telstra's optical network to 400 GE (Gigabit per Second Ethernet).
Story image
Document Management
Regaining digital trust and enhancing digitisation in Australian Government agencies
Having a digitised ecosystem of documents, tools and data can help bolster security, improve workflow and ultimately create better services.
Story image
Cybersecurity
Without trust, your security team is dead in the water
The rise of cyberattacks has increased the need for sound security that works across any type of business, but with any change, buy-in is essential. Airwallex explains why.
Productivity
Discover the 5 ways your ERP may be letting you down. Is your current system outdated, difficult to manage, and costing you a fortune?
Link image
Story image
Cybersecurity
Tech and data’s role in the changing face of compliance
Accenture's study found that 93% of respondents agree or strongly agree new technologies such as AI and cloud make compliance easier.
Story image
Apple
Your tools, your choice: why allow employees to choose their own devices?
Jamf Australia says giving your team the freedom to work with their digital device of choice could help to attract and retain top talent in a tight labour market.
Project management
Discover the 4 crucial factors for choosing the right job-costing solution. Is your team struggling to cost jobs and keep projects running on budget?
Link image
Digital Transformation
Discover the 5 signs your business is ready for a cloud-based ERP. Is your business being left behind as more of your competitors switch to the cloud?
Link image
Story image
SaaS
Ping Identity appoints Deloitte Australia as a partner
Ping Identity has appointed Deloitte Australia as a Consulting Technology Partner, uniting its offerings with the company's consulting services.
Story image
Digital Fingerprint
Decline in counterfeit cherries after digital fingerprinting
Reid Fruits says there’s been a dramatic decline in counterfeit products for its cherries over the past three export seasons to Asia because of digital fingerprinting.
Story image
Samsung
Monitors are an excellent incentive for getting employees back
The pandemic has taught us that hybrid working is a lot easier than we would’ve thought, so how can the office be made to feel as comfortable as home? The answer could be staring you in the face right now.
Story image
Security Information and Event Management (SIEM)
LogRhythm updates SIEM Platform with latest innovations
LogRhythm has announced the launch of version 7.9 of the LogRhythm SIEM Platform and updates to LogRhythm NDR and LogRhythm UEBA.
Story image
Cybersecurity
Palo Alto Networks' cloud security platform receives IRAP assessment
"We provide help protect all forms of compute, cloud native services and access to data within public and private sectors."