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🖼 Nearly 60% of NFT Trading Volumes in 2022 Was Wash Trading
NFT marketplaces use token reward trading strategies to entice traders, boost volume, and appear to be the most successful platforms. A recent report published by blockchain analytics firm Dune revealed that nearly 60% of non-fungible token (NFT). According to Dune, wash trades started gaining traction in the crypto industry in 2019 but became pertinent to the NFT space in 2022. The analytics firm noted that NFT wash trading is boosted by enticing traders with token rewards due to the high competitiveness of the space and the frequent launch of new platforms. They aim to accumulate token rewards more valuable than the gas fees spent.
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⛵️ NFT marketplace OpenSea delisting Cuban artists and users: Artnet
Leading NFT marketplace OpenSea is actively delisting Cuban artists and users to comply with U.S. sanctions. prohibit sanctioned individuals, individuals in sanctioned jurisdictions, or services from using OpenSea.” The confirmation came after Twitter account NFTcuba.ART shared a screenshot of an email explaining that an account had been "disabled due to activity that goes against our Terms of Service.". Earlier this month, Reuters reported that the U.S. Justice Department was weighing the possibility of charging the biggest crypto exchange, Binance, with money laundering and sanctions violations.
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⚡️ The Pokémon Company takes Aussie crypto company to court over Pokémon NFT game
Documents lodged with the Federal Court of Australia have revealed that The Pokémon Company International is taking Pokémon Pty Ltd to court over advertising a new NFT based Pokémon mobile game. The website for the game PokeWorld is still available (which we won’t link to). The Pokémon Company International has asked the court to seek a resolution to stop Pokémon Pty Ltd from using their trademarks on the website, and social media, to not launch the game or sell any NFTs using their IP. The Pokémon Company International points out in the legal documents that they are not a contractor for them.
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🔫 Metappfactory Launches as Leading Metaverse Development Company
Metappfactory, a leading metaverse development company, is proud to announce its launch this week. Metappfactory provides services for the development of virtual reality and augmented reality applications, creating a variety of immersive experiences for its clients. At Metappfactory, the team is dedicated to helping clients create advanced, interactive virtual worlds. The company leverages the latest technology to provide a range of services, such as 3D modeling, world-building, animation, and more. Its team of experienced developers, designers, and artists will work closely with clients to bring their vision to life.The company is committed to creating solutions that are both cost-effective and innovative.
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🇪🇺 European Parliament's NFT push derailed by Qatargate bribery scandal
The European Parliament’s report for bespoke NFT policy has been scrapped after MEP Eva Kaili was charged with corruption over alleged bribes from Qatari officials. Kaili is awaiting results from a hearing which took place in a federal court in Brussels today. The Parliament's report on NFTs was withdrawn following the arrest and criminal charge of former vice president of the European Parliament, Eva Kaili, for allegedly accepting bribes from Qatari officials, according to the office of Dan Nica, an MEP who redistributed the rest of Kaili’s files as she was suspended from her political group. European Commission to follow through with a legislative proposal.
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📉 Metaverse market collapses, with monthly platform sales falling 96% so far this year
Metaverse platforms brought in $49.2 million in monthly trading volume in January, that figure dropped to a mere $2 million in November, a decline of 96% from the start of the year, according to The Block Research's 2023 Digital Asset Outlook report. Metaverse land prices have also fallen 90% from the beginning of the year, according to The Block's data dashboard. While metaverse platform The Sandbox lost its dominance in land sales to NFT Worlds during the first few months of 2022, it finished off the year with 54% of market sales in November.The second most populated platform, Decentraland, had 6,529 unique users.
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🇬🇧 UK advertising regulator bans Crypto.com, Turtle United NFT promotions
The UK's advertising regulator has ruled against NFT promotions by Crypto.com and a project called Turtle United for failing to lay out the risks of investing in NFTs and not properly illustrating transaction fees. Contesting the ruling, which concerned its NFT marketplace, Crypto.com confirmed the ad is no longer live and argued that the company did not believe the NFTs available on its platform, which included artists’ work and sports collectibles, to be financial in nature. It said that due to the fact NFTs were excluded from recent Treasury consultation papers on crypto, it believed they would be exempt from the financial rules.
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📉 Zuckerberg hits back at metaverse dominance claims
Meta Platforms CEO Mark Zuckerberg reportedly dismissed claims the company is attempting to take a dominant position in the metaverse segment, arguing it is working to build a nascent VR industry that is open to developers. Zuckerberg took the stand in an antitrust court case against Meta Platforms over its acquisition of fitness app maker Within Unlimited, stating the company primarily is looking to build communication tools and a platform for apps from different developers, reported Reuters. Within because it felt the tie-up will create a monopoly for fitness apps.
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💰 Polygon's next web3 play is an NFT debit card
Polygon has partnered with the neo-banking app Hi to introduce a platform that allows users to mint NFTs for a web3-focused debit card. The move follows other strategic partnerships from Polygon, which has collaborated with Starbucks and Magic Eden. The move marks the latest strategic partnership for Polygon, which is trying to become the face of gasless fees for NFTs. Polygon undergirds the Starbucks NFT loyalty rewards beta as well as new blockchain gaming features from Solana's biggest NFT marketplace, Magic Eden. Called the NFT Debit Mastercard, card holders can spend either crypto or fiat currencies at 90 million global merchants.
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📣 Story Digital launches Revamp Moto’s Buddie 25 in Metaverse
Story Digital, in association with Metaform, successfully launched Shark Tank-backed Revamp Moto’s Buddie 25 in the Metaverse. The project was landed post a multi-agency pitch and was managed by the agency’s Delhi office. Revamp Moto became the first 2-wheeler electric vehicle in the Indian market to be launched in the Metaverse. With thousands of viewers joining them for the launch, they could experience the product’s journey in the metaverse. considering everybody has been talking about the metaverse, but only a few have been able to figure out how it actually works.
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💰 Shiba Inu Racing NFT launch to conquer billion-$-market
The Shiba Inu (SHIB) ecosystem welcomes another bullish development. Shiba Racing Team, a motorsport-themed play-to-earn game, has announced the launch of its genesis non-fungible token (NFT) collection. The game developers gave details of the collection in an official release. The digital art pieces will also feature different traits, including eyewear, headgear, background, fire suits, and much more. The NFTs will add value to the game, as well as offer real-world utility to their collectors’ portfolios. The release notes that the NFTs will allow collectors to gain steady revenue flow from the game’s P2E opportunities. It added that the NFTs will facilitate the player vs. player gaming model.
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📣 Millennials and Gen Z driving the demand for metaverse fashion
Millennial and Gen Z consumers are leading the way when it comes to buying fashion in the metaverse, according to new research from Centra, the headless commerce platform for fashion and lifestyle brands. Centra found that a fifth (21 percent) of Millennials and a further 19 percent of Gen Z consumers have already bought a Non-Fungible Token (NFT) fashion purchase or digital fashion asset, with men twice as likely than women to have bought fashion in the metaverse. fashion in the metaverse and that Millennial and Gen Z are driving the demand.
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⚡️ Flow Hits New Low After NFT Trading Craters, Dapper Downsizes
Flow surged to prominence in early 2021 as NBA Top Shot led the charge for NFTs into the mainstream. But amid a significant decline in trading action on the platform and following recent layoffs from creator Dapper Labs, the blockchain’s native coin just set a new all-time low. Flow, the network’s eponymous native cryptocurrency, fell to $0.89 early this morning, marking a new low according to data tracked by CoinGecko. It has rebounded slightly to above $0.90, but Flow is still down 6% on the day, nearly 14% over the past week, and about 26% in 30 days. Bitcoin is up nearly 5% in the last month, while Ethereum has risen about 3% during the same span.
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🖼 Amazon's new series 'NFTMe' explores NFT culture and disruption worldwide
The capacity to digitally authenticate almost everything, and the possibility of monetizing in ways nobody couldn't even imagine before. These are some of the ways in which the documentary series "NFTMe" introduces nonfungible tokens (NFTs). NFTMe introduces 50 pioneers in the NFT space from four continents, including American singer Susaye Green (of The Supremes), Queen Diambi (Queen of Democratic Republic of the Congo), digital artist for SpaceX & Nasa Refik Anadol, Madonna’s Music producer, along with Peter Rafelson and Cheryl Douglas of Portion, whose launched NFT collections for the Black-Eyed Peas, to name just a few.
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📣 Capgemini: Nine out of Ten Consumers Interested in the Metaverse
Capgemini, a consulting firm, has found that most consumers are at least curious about the metaverse and what it might bring to their lives. The report, which also examined consumer and company expectations of immersive experiences. The Metaverse is becoming the focal point of studies that seek to identify the potential of possible investments in the field. Capgemini, a consulting firm, found that there is significant interest in the metaverse from both consumers and companies in its latest report issued on Dec. 8. 8,000 consumers and 1,000 organizations in 12 countries were surveyed for the report between July and August.
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🖼 The art of the drop: Trump NFTs may prove the utility of utility
Donald Trump’s recent NFT drop was ridiculed. Bigly. But the former U.S. president seems to have had the last laugh and may have provided the digital asset community a valuable lesson if they can get past the snark. Trump managed to sell out his collection in a matter of hours in a market where NFT trading volumes have declined more than 90% from earlier this year. And while speculation runs rampant on Twitter and in the media about the identity of those who own a large number of valuable Trump NFTs, with other Twitter users pointing to evidence that suggests the collection used copyrighted material.
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⛵️ Cuban NFT Artists Blocked From OpenSea to Comply With Sanctions
30 Cuban artists and collectors have reportedly been censored on the OpenSea NFT marketplace to comply with U.S. sanctions. This includes well-known Havana-based artists Gabriel Guerra Bianchini and Fábrica de Arte Cubano. A spokeswoman for OpenSea told Artnet News that they are adhering to the U.S.-imposed restrictions. Cuban artists’ exclusion from online marketplaces has been a topic of contention all year. “Our terms of service explicitly prohibit sanctioned individuals, individuals in sanctioned jurisdictions, or services from using OpenSea.”
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⚡️ Antier Hosted First Ever Christmas In The Metaverse For Global Audiences
The buzz around Antier's first Anfestier event of Diwali celebration in the Metaverse has still not faded away, and it's back with Christmas celebrations in the Metaverse. Antier provided an open invitation. The history of Anfestier dates back to 21st October 2022, when Antier surprised its employees by inviting them to join the Diwali celebration in the specially built Metaverse platform in which they were allowed to participate in different activities, and bursting firecrackers. Anfestier is an initiative that helps celebrate festivals in the immersive virtual world.
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🇦🇷 Argentine Football Association partners with metaverse startup after World Cup win
The Argentine Football Association (AFA) is partnering with metaverse startup Upland as one of its first entries into web3 fan engagement. The deal includes digital collectibles and a virtual gathering space for AFA's fanbase. "The Argentine Professional League has long awaited opportunities to take advantage of emerging technologies to enhance our League's fan experience," AFA President Claudio Fabian Tapia in a statement. "This agreement allows us to partner with the best creators of technology and new digital products and thus generate a new source of income for all participating clubs."
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🤟 Yuga Lab's NFT collection Meebits drops a collectible music album
Yuga Labs's NFT collection Meebits launched a music album that's also collectable as ERC-1155 NFTs. a subsidiary of the generative AI music platform Authentic Artists that announced a partnership with Yuga on Nov. 3. Users can listen to the album's 22 tracks, 13 of which have freshly dropped, on music streaming platforms such as Spotify, Apple Music and Amazon Music. Meebit holders can collect the NFTs for free, paying only a gas fee. Tracks include "Teenage Halloween," "The Magic Dragon Wagon" and "Clap for Chumps," and the electronic music varies from slow and sober vibes to more upbeat and fun tunes.
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🖼 Mercedes-Benz files 5 trademark applications for metaverse and NFTs
The German multinational automotive corporation Mercedes-Benz Group AG is taking steps into the digital space with non-fungible tokens (NFTs) and the metaverse.The filing with the United States Patent and Trademark Office (USPTO) on December 14. According to information by Mr. Kondoudis, the trademark filings for “Mercedes Benz, Mercedes, S-Class, G-Class, and Maybach” the filings will include licenses for digital currency, NFTs, retail stores for virtual vehicle parts, and cryptocurrency trading, among others. NFT and metaverse licensed trademark attorney Michael Kondoudis in a tweet on December 19.
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🖼 Trump move over: NBA legend Scottie Pippen’s NFT drop sells out in record 77 seconds
NBA Hall of Famer Scottie Pippen’s NFT collection has broken the OpenSeas sales record previously set by actor Anthony Hopkins, after his digital-asset collection sold out in less than one-and-a-half minutes. Pippen’s 1,000-piece NFT collection sold out in a mere 77 seconds on Tuesday, according to Orange Comet, the company responsible for producing both the former NBA legend's and Hopkins' NFT collections. Selling out at such a rapid pace also means Pippen's NFT drop outpaced last week’s highly publicized drop inspired by former President Donald Trump.
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🖼 Auction house Christie's NFT sales fell 96% in 2022
Art auction house Christie's saw a tremendous decrease in NFT sales this year compared to 2021, despite a bumper year elsewhere in its art business. In 2021, the art auction house sold over 100 NFTs worth more than $150 million. NFT volume, Christie's made notable progress in advancing its web3 and NFTs vertical in 2022. It established a venture fund that made its first investment in blockchain interoperability startup LayerZero on Jul. 18. Christie's also sold pieces by 18-year-old NFT artist Diana Sinclair, who had created media for a $1 million NFT sale of an unreleased Whitney Houston track, The Block previously reported.
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🔫 One-third of singles are ready to date in the Metaverse: Survey
Online dating has already become a commonplace activity in modern-day romance. Data from Statista forecasted nearly 280 million online dating users by 2024. Now with data from a recent survey conducted by Dating.com, an online matchmaking platform. According to the survey, those looking for love continue to turn to technology, with 33% of singles planning to date in the metaverse. The survey highlighted that the use of metaverse avatars can help put an emphasis on, “communication and digital intimacy before in-person discovery.”Moreover, the metaverse is a borderless world, which can trigger singles to meet from anywhere.
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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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📣 Metaverse can bridge gap between physical & virtual offices
Metaverse could bridge the gap between physical and virtual offices. Moreover, the wearables like smartwatches can have multiple use cases in human resource (HR) technology, says a study. The Metaverse is perhaps one of the most discussed terms and a buzzword today. Managing the workforce efficiently can become challenging, especially with today's remote working scenario. At such a juncture, the Metaverse is the perfect solution for HR managers since it has the potential to expand what hybrid work is known as today.
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🤟 Yuga Labs advances in lawsuit accusing artist of copying Bored Ape NFTs
U.S. District Court of Central California denied a motion in favor of Bored Ape NFT creators in their lawsuit against artist Ryder Ripps and Jeremy Cahen.An ongoing legal tiff between NFT developers Yuga Labs and an artist and his NFT business partner continues as a U.S. federal court denied a motion. Yuga Labs first filed the lawsuit in June against California-based artist Ryder Ripps and the founder of NFT marketplace Not Larva Labs, Jeremy Cahen, accusing them of copying and selling NFT collections and devaluing the original Bored Ape products. The District Court of Central California has now denied these motions. he would only agree to settle the case for a payout of at least $100 billion.
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🇦🇪 MX Hub Dubai announces launch of its metaverse incubator
Since launching 2 months ago, MX Hub has achieved international recognition as a contributor to Dubai Metaverse strategy of global leadership. Located under the roof of the Dubai Ministry of Economy & Tourism. The MX Program Integration is based on a framework of transparency, trust and reporting that includes: Due diligence, inclusion in Rating of top 100 Emerging tech companies, strategic sessions with globally renowned experts, like Brett King, aimed at improving startups' strategy, PR, sales Technical integration.
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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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🔫 Metaverse experience to sway real-world travel choices in 2023: Survey
COVID-induced travel restrictions, the Metaverse, one of the latest sub-crypto ecosystems, is set to help travelers decide on the destinations they want to experience in person, reveals a new survey conducted by Booking.com personally. Popular online travel agency Booking.com surveyed 24,179 respondents across 32 countries, which revealed travelers’ strong interest in virtually exploring destinations as they decide on their itinerary. Out of the lot, people most likely to try out travel experiences in the metaverse were Gen Z (45%) and Millennials (43%). 43% of the respondents, confirmed their will to use virtual reality.
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