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🤟 Bored Ape Creator Yuga Labs Nabs New CEO From Gaming Giant Activision Blizzard
Daniel Alegre is the new CEO of Yuga Labs. His new gig was revealed this morning, less than 72 hours after it was announced that he was stepping down from his position as President and COO of Activision Blizzard.
Luring Alegre over to the blockchain technology company behind the Bored Ape Yacht Club, CryptoPunks and Otherside is quite a corporate coup for Yuga Labs. While helping to lead Activision Blizzard since early 2020, Alegre had a hand in developing well-known brands like Call of Duty, World of Warcraft, Diablo, Overwatch, and Candy Crush. His resume also includes 16 years spent across several leadership roles at Google.
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⚡️ SmarterWorx Inspires Decentraland and The Sandbox Communities with Fractionalized NFTs
Across the NFT sector, it is standard knowledge that tokens are indivisible. For collectors, this means that when purchasing an NFT or a tokenized asset, you must source all funds as put on its price tag. Considering the high cost of buying some NFTs.
Now, crypto and art lovers can invest in NFTs within their budget through SmarterWorx. This DeFi protocol has pioneered fractionalized NFTs (F-NFTs), which allow for collective ownership of NFTs and yield revenue to the investors. And household NFT players, like Decentraland and the Sandbox, are stunned. SmarterWorx is the protocol that crypto investors didn’t know they needed.
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📣 Hype around Donald Trump’s NFT cards rises as trading volume surpasses $600,000
The cryptocurrency industry has been attracting famous people from all walks of life, and the most recent addition is the former president of the United States, Donald Trump.
Indeed, the former U.S. president has launched an initial series of 45,000 Trump Digital Trading Cards minted on the Polygon (MATIC) blockchain, making an announcement of the launch on his social media platform Truth Social on December 15. NFT announcement coming as a major surprise.
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⚽️ FIFA Launches Virtual Ecosystem in Roblox Metaverse Ahead of World Cup in Qatar 2022
The International Football Federation (FIFA) announced the launch of its virtual ecosystem, ‘FIFA World,’ in the Roblox metaverse. It hopes to attract new football fans through games, immersive experiences, and exclusive rewards. FIFA stated that the launch of the virtual environment in Roblox is ahead of the upcoming 2022 FIFA World Cup in Qatar.
FIFA promises to continue developing interactive football experiences for fans and launch free-to-play challenges to earn rewards. The statement added, “As part of its commitment to developing new football gaming titles for fans, FIFA will work with Roblox to create an exciting new online immersive experience for all football fans to hang out in social spaces, earn rewards and collect exclusive virtual items through various skill games and multiple collectors’ challenges.”
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🇦🇪 UAE: Police force first to offer services in Metaverse
Ajman Police has become the first police agency to provide its services to customers through Metaverse technology, according to a tweet by the authority. The Gitex Technology Week also saw the Ajman Police General Command launch the 'Request for Sponsorship' service, which is a new smart service that allows the public to communicate with the police remotely.
The Ajman Police General Command also participated in the Dubai Metaverse Forum. Lieutenant Colonel Mohammed Abdullah Abu Shehab said that the force participated with the aim to benefit from metaverse technology in the police field.Meanwhile, the Dubai Police General Command announced the launch of the new version of its smart application on the second day of Gitex Global 2022, which includes a premium bunch of 70 developed services.
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🆘 The Metaverse is the internet no one wants
The Metaverse, as the company formerly known as Facebook defines the term in its financial filings, is "an embodied internet where people have immersive experiences beyond two-dimensional screens." It's more or less another stab at Virtual Reality Modeling Language (VRML), a standard file format for 3D graphics that dates back to the mid-1990s.
The Web3D Consortium, which was formed to advance VRML and currently promotes X3D, a royalty-free open standards file format, recently weighed in on the Metaverse to offer its own definition [PDF]. The Metaverse of connected environments could be realized anytime. It's the web and the internet, after all. We know how to do links. Minecraft users could click on an object and be transferred to some other game with a VR interface like Eve: Valkyrie.
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Oscar Winner Anthony Hopkins’ First NFT Collection Sold Out in Minutes on OpenSea
The collection is a series of over 1,000 original art pieces inspired by the actor’s decades-long career in Hollywood, with visual nods to his performances in films such as Silence of the Lambs, where he won an Oscar for his performance as Hannibal Lecter, and TV series Westworld.
Oscar-winning actor Anthony Hopkins' first NFT art collection, entitled “The Eternal Collection,” has sold out in under seven minutes on NFT marketplace OpenSea. The launch was beset by some technical issues, however, and was delayed by over 45 minutes due to issues related to “high demand.”.Besides owning a piece of digital artwork, buyers are also set to receive the chance to rack up some real-world perks, including a one-on-one brunch with Hopkins.
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🤟 Five Charged in France With $2.5M Fraud Targeting Bored Ape NFT Owners
Five people have been charged in France on allegations that they fraudulently acquired $2.5 million worth of non-fungible tokens (NFTs), mainly targeting Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) owners. The prosecution alleged that the suspects used a phishing operation to acquire the assets, luring victims via a fake website that promised.
The charges levied against the suspects, all of whom aged between 30 and 24, include “include fraud committed as part of a criminal gang, concealing fraud and criminal association.” The suspects, who conducted the scheme between late 2021 and early 2022, were based in Paris and the French cities of Caen and Tours.A parent of one of the accused was also arrested, but they have now been released without charge.
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Nostraverse launches new metaverse initiative for Dubai schools
The ideal way to conceptualise the Metaverse is as a computer-generated copy of the actual world that users and developers may personalise to their hearts' content by creating anything, from a metaverse school to virtual sports stadiums on real estate they own. It also provides a new opportunity for families and friends to engage.
Looking to digitally engage schools and students in a world of the metaverse, Nostraverse has launched a new initiative. Nostraverse, the pioneers of the metaverse, is a virtual reality platform where users can use access points to enter the VR world platform. Calling the Metaverse an alternate reality that presents endless possibilities, Sam Clever, founder and CEO of Nostraverse, spoke to the Khaleej Times about the company's latest plan, which will create a network.
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Multiverse Labs launches world's first city in metaverse with government of Sharjah, United Arab Emirates
Multiverse Labs
Multiverse Labs™ has partnered with the Sharjah Commerce & Tourism Development Authority (SCTDA) to launch Sharjahverse, a new generation of metaverse tourism for the Emirate of Sharjah. Using the Multiverse Labs platform, Sharjahverse is a significant milestone.
Sharjahverse, encompassing all of Sharjah at 2,590 square kilometres (1,000 square miles), not only brings the emirate to a global audience and boosts the tourism economy, but also creates metaverse jobs for local employees at Sharjah's iconic sights. It is a photorealistic, physics-accurate metaverse that unlocks commerce, innovation and imagination at scale and promotes the emirate as a destination of excellence. Sharjah is widely known as the cultural and historical heart of the UAE.
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RTA exhibits Metaverse Dubai Metro stations network, digital platforms at GITEX 2022
Dubai’s Roads and Transport Authority (RTA) has revealed an extensive collection of smart initiatives, applications, and stations it will showcase at the 42nd edition of GITEX 2022, which commences tomorrow, Monday, at the Dubai World Trade Centre. RTA will exhibit the self-driving Cruise vehicle built on the Chevrolet Bolt electric platform for the first time.
RTA smart apps, among others. His Excellency Mattar Al Tayer, Director-General, Chairman of the Board of Executive Directors of the Roads and Transport Authority, said: “RTA has undergone a comprehensive digital transformation and embraced emerging technologies and artificial intelligence as means of boosting productivity and raising operational efficiency. It has also launched new services to improve the wellbeing of Dubai’s residents and visitors alike.
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Meta Employees Should ‘Fall in Love’ with Horizon Worlds Metaverse App, Says Leaked Memo
According to a report from The Verge, Meta (formerly known as Facebook) is having trouble getting its own employees to use its flagship “metaverse” app, Horizon Worlds, let alone actual users. The Verge obtained internal memos discussing the current state of Horizon Worlds.
Meta’s VP of Metaverse, Vishal Shah, said in a memo dated September 15 that the team working on Horizon Worlds will go into a “quality lockdown” for the rest of the year to “ensure that we fix our quality gaps and performance issues before we open up Horizon to more users.”. Shah said that even the people building Horizon Worlds aren’t using it as much as they should or, better yet, should want to.
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Meta's metaverse app has several quality issues, admits head
San Francisco, Oct 7 The flagship metaverse product of Meta (formerly Facebook) is reportedly inundated with several quality issues and even those building the virtual reality (VR) social network at the company are barely using it.According to a report in The Verge citing internal memos, Meta's VR social network called 'Horizon Worlds' holds little promise in its current avatar.
Vishal Shah, Meta's VP of Metaverse, apparently told the employees that the metaverse team would remain in a "quality lockdown" for the rest of the year to "ensure that we fix our quality gaps and performance issues before we open up Horizon to more users"."Simply put, for an experience to become delightful and retentive, it must first be usable and well crafted," he wrote.In August, Meta Founder and CEO Mark Zuckerberg was forced to post new screenshots on Facebook and Instagram, showing off a more life-like version of himself, after he faced memes on his poorly-designed metaverse avatar.
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Metaverse consultant Metav.rs raises € 3 million
Metav.rs, a French start-up, founded earlier this year by Simon Foucher, Clément Foucher, Jérémie Salvucci and Adrien De Lavenere Lussan that advises brands on developing and marketing NFTs and building their own miniverse, has announced that it has received € 3 million in growth funding from Singaporean investment fund Jsquare.
Metav.rs also allows brands to construct their own version of the metaverse and includes developing apparel and accessories for miniverse avatars, for which the business has created an app that generates 3D digital reproductions of genuine garments that can be viewed in both virtual and augmented reality, providing customers with fresh digital experiences. Metav.rs offers a no-code solution that allows brands to imprint their own NFTs and market them through third parties or their own websites.
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Infinix Launches ZERO ULTRA Smartphone at $520 with 180W Thunder Charge and NFT Collection
Global smartphone company, Infinix, today announced the launch of the brand's all-new ZERO ULTRA smartphone – its most powerful flagship to date with 180W Thunder Charge technology – as well as a space-themed limited-edition XBOY EXPLORER NFT collection.The launch of the innovative NFTs celebrates humanity's desire to explore new frontiers, both the wider universe and the metaverse.
With the launch of ZERO ULTRA we're pushing boundaries. This flagship smartphone delivers industry-leading specs that empower young people to Explore Beyond. Our goal is to integrate that spirit of exploration into mobile phone development, and launch super-fast charging technology that offers users the best-possible experience. At the same time, we're undertaking innovative NFT marketing strategies, to deliver an exciting digital experience to users. The XBOY EXPLORER NFTs tie all these exciting developments together," said Skye Chen, Head of Global Public Relation at Infinix Mobility.
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🇦🇪 Dubai student Saad Abdullah uses NFT to authenticate apparel
Saad Abdullah was born in Sydney but has lived in London and Riyadh before settling in Dubai where he has been raised for the past 10 years. ‘‘Originating from Pakistan, my diverse background has exposed me to various cultures.
Two years ago, amazed to see the impact that entrepreneurs had in shaping the future and keen to build a better world, he created a solution of an NFT marketplace that uses smart contracts in the blockchain to authenticate apparel. ‘‘Now at 18, I have brought my idea to life with BNFT and am using my own brand to showcase the practicality of this technology in the fashion space.
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📣 Manchester United Launches Tezos-Powered NFT
Manchester United, one of the biggest clubs in world soccer, has launched its first collection of non-fungible tokens powered by proof-of-stake blockchain Tezos. Fans are required to sign in using their Tezos wallets in order to claim NFTs.
The club's first digital collectible is a key that offers fans access to a slew of rewards free of charge. Keys are divided into three groups based on their rarity (Classic Key, Rare Key and Ultra Rare). They will be distributed to the club's fans at random. United announced the NFT project in mid-November, describing it as a gift to fans.
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🖼 Dapper Labs, CryptoKitties co-founder signs with Hollywood agency WME: Exclusive
Cofounder of CryptoKitties and Dapper Labs Mack Flavelle has signed with top Hollywood talent agency, WME, The Block learned exclusively. Flavelle, considered by some to be a pioneer of NFTs, helped elevate the popularity of non-fungible tokens when he created CryptoKitties, an NFT series that allows people to buy, breed and sell cartoon cat collectibles.
WME is one of the most powerful talent agencies in the entertainment industry, representing top Hollywood actors including Dwayne “The Rock” Johnson and Charlize Theron, and musical artists such as Meek Mill and Alicia Keys. Signing with the agency means Flavelle will be represented by an agency that not only possesses a diversity of interests — the agency’s parent company Endeavor owns the UFC, a professional bull-riding league, and runs fashion shows,
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🤟 Yuga Labs Faces SEC Probe Over Unregistered Offerings
The investigation may not result in allegations of misconduct. The popular Bored Ape Yacht Club collection of NFTs’ creator, Yuga Labs Inc., is the subject of an investigation by the US Securities and Exchange Commission into whether the sale of its digital assets violates federal law.
According to a person who is familiar with the situation but requested anonymity due to the private nature of the investigation, the SEC is looking into whether certain nonfungible tokens produced by the Miami-based company are more comparable to stocks and should adhere to the same disclosure guidelines. The SEC has not initiated a probe into Yuga, and the agency has not threatened to sue the company.
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🎮 Blockchain games and metaverse projects raised $1.3B in Q3: DappRadar
The blockchain gaming sector remains active in terms of adoption and venture capital firms have taken notice, according to industry data. Venture financing for the blockchain industry remained robust in the third quarter, even as bearish conditions ravaged digital asset markets, a sign that venture capital firms were focused more on the long-term value proposition of the sector.
Blockchain games and metaverse projects raised a cumulative $1.3 billion in venture capital between July and September, according to DappRadar’s latest BGA Games Report. While this figure was down 48% compared to the second quarter, it was nearly double the total amount raised in 2021. Looking at blockchain gaming specifically, the report showed that underlying industry activity was still growing despite the bear market.
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Konami seeks blockchain specialists for Web3 and metaverse expansion
The Japanese gaming giant Konami is making an effort to widen its crypto talent pool while simultaneously focusing on offering Web3 and metaverse experiences, as well as trying to embrace a new non-fungible token (NFT) market. The colossus of the video game industry is the most current in a long line of well-known companies to voice an interest.
The company announced on October 13 that it was looking for “a wide range of talent” in connection with the “system construction and service development” that would be related to the impending metaverse and Web3 platforms. Konami has stated that it is committed to research and development to incorporate “the latest technology” into its games and other content offerings. The company has also said that it intends to introduce an NFT trading platform.
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🖼 French cyber-crime authority leverages ZachXBT’s research to apprehend NFT scammers
France’s OCLCTIC cyber-crime authorities apprehended a group of five NFT scam artists for allegedly stealing $2.5 million worth of NFTs via phishing with the help of on-chain sleuth ZachXBT, according to an Oct. 12 press release by BFM crypto in association with Paris à l’AFP. Those who came forward about the NFT fraud allegations include footballer Neymar, rapper Eminem, and TV personality Paris Hilton.
ZachXBT launched the investigation when holders of the limited-edition Bored Ape Yacht Club NFTs complained online about their lost Apes and posted the findings online, which OCLCTIC referenced to cohere with their own. ZachXBT found that the phishing scams by the NFT scam group were carried out between late 2021 and early 2022. The scammers managed to steal their victim’s Bored Ape Yacht Clube (BAYC) and Mutant Ape Yacht Club (MAYC) NFTs.
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📣 An ‘Open, Interoperable’ Metaverse is ‘Better for Everyone’: Meta’s Mark Zuckerberg
Last October, Meta—the rebranded parent company of Facebook and Instagram—unveiled its grand plan to help build the future immersive internet of the metaverse. Since then, the social media giant’s stock price has fallen by 60%, its growth has stalled, and metaverse buzz has both surged and cooled, drawing backlash in the process.
Despite all of that, Meta is still fixated on building its vision. Today, the company used its annual Meta Connect conference keynote to share its latest advancements for the metaverse, including a powerful new virtual reality (VR) headset to serve as another stepping stone towards more lavish online worlds and interactions. Some Web3 builders have feared Meta’s role in building the metaverse.
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Metaverse platforms refute ‘misinformation’ about daily active users
Ethereum blockchain-based metaverse projects Decentraland and the Sandbox have hit back at reports suggesting low daily user activity on platforms, arguing a “misinformed” metric was used to measure each of the platforms’ daily active users (DAU). The controversy appears to have come from data originating from DappRadar, with observers.
Decentraland said in an Oct. 8 tweet that “some websites are tracking only specific smart contract transactions but reporting them as daily active users […] which is inaccurate.”. Sandbox CEO Arthur Madrid tweeted on Oct. 10 that “on chain transactions does not mean Users” and that nonfungible token (NFT) owners “invest in an asset that will grow in value over time based Utilities.”. This distinction is significant, as Decentraland’s September data shows 56,700 Monthly Active Users but only 1,074.
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Solana Phantom security update NFTs push password-stealing malware
Hackers are airdropping NFTs to Solana cryptocurrency owners pretending to be alerts for a new Phantom security update that lead to the installation of password-stealing malware and the theft of cryptocurrency wallets. This ongoing attack started two weeks ago, with NFTs titled 'PHANTOMUPDATE.COM'.
Phantom requires all users to update their wallets. This must be done as soon as possible," reads the warning in the fake Phantom update NFT. "Failing to do so, may result in loss of funds due to hackers exploiting the Solana network. Visit www.updatePhantom.com to get the latest security update.". When the batch file is launched, it will check if it is running with Administrator privileges and, if not, show a Windows UAC prompt asking for permissions.
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OpenSea CFO Joins Crypto Executives Exodus, Leaves Position
OpenSea Chief Financial Officer Brian Roberts has resigned ten months after assuming the position and will remain an advisor for the company. Roberts announced this on his LinkedIn page. He was the first finance hire for the NFT marketplace and was responsible for growing the finance team. Following his departure, the firm’s Vice President of Finance.
The former Lyft CFO said he is “incredibly bullish on web3 and especially OpenSea. The company is heads down building and I assure you, the best is yet to come.” Earlier in the year, OpenSea revealed that it was laying off 20% of its workforce due to the effect of the bear market. OpenSea’s sales volume and overall revenue have declined massively in light of the recent bear market. The trading volume for NFTs is down by about 90% since January.
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200% Increase in NFT Trademark Applications Since 2021
Well, trademark attorney Mike Kondoudis has revealed that there has indeed been an increase in NFT-related trademark filings. From 2021 to now, there has been roughly a 200% increase in NFT trademark filings, which Kondoudis outlined on his Twitter page. If you follow NFT news, you might have noticed an uptick in brands filing trademarks for NFT-related projects and products.
As Kondoudis broke it down, there were 2,142 NFT trademark filings in 2021. In 2022 thus far, there have been 6,366, marking a sharp increase. March was the busiest month for these trademark filings, with 1080 filed in total, while September was the lowest, with only 435. The sharp increase from last year to this year is a testament to just how popular NFTs have become, as well as their level of adoption. The NFT craze within industries like entertainment and gaming has meant that many companies and franchises are filing for trademarks to launch projects or even just to cover their bases.
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Polygon X OCEEF Brings Deep Sea Missions to the Metaverse
Polygon partners with the Ocean Conservation Exploration and Education Foundation (OCEEF) to promote the life of the ocean to the public. This partnership will promote ocean engagement and give people exposure to deep-sea missions. The goal of this partnership is to ensure that the ocean and its preservation remain the topics of discussion for generations to come.
Furthermore, OCEEF will open submissions for students to join the team onboard and will select groups from the applications for each mission. The students will also get the opportunity to take part in dives themselves, which will be made available through NFTs. Since then, Polygon has achieved carbon-neutral status, eliminating 104,794 tonnes of greenhouse gases, more than the entire network’s CO2 debt since its inception
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Decentraland has just 30 daily active users despite billion dollar market cap
Twitter user 0x_shake, who identified himself as the founder of the Solana-based Cyber Samurai NFT project, noted that despite a $1.2 billion valuation, Decentraland has just 30 daily active users (DAUs). The data was pulled from DappRadar but is under scrutiny given the low number of DAUs.
Nonetheless, the finding has reignited several discussion points, including metaverse tokens (and cryptocurrency in general) being a speculative pursuit, the pointlessness of market cap valuations, and the lack of interest in the metaverse.Decentraland (MANA) is a virtual world platform on Ethereum enabling users to create, experience, and monetize content and applications. Its two-day-long Initial Coin Offering (ICO) ended on August 19, 2017, raising $24.14 million.
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Mainstream NFT adoption will be driven mostly by their utility
Hype may have been a factor in the rise of NFTs, but the actual utility will be the catalyst for the mainstream adoption of the technology. Nonfungible tokens (NFTs) have seen a stratospheric surge in popularity accompanied by sky-high values, giving rise to legitimate and ongoing worries about a market bubble, as many projects lacked real-world application or utility.
NFT utility is an essential component because it adds value and functionality to the technology. One of the most well-known use cases for NFTs is the ownership of digital art pieces like CryptoPunks. Play-to-earn (P2E) gaming is another use case that had massive popularity in 2021. In addition, collections have access to a strong branding strategy that works in conjunction with their public image due to granting commercial rights to NFT owners for their assets.
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