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🖼 ERC-6551 Turns Any NFT Into a Web3 Wallet
The word “wallet,” used to label a common Web3 account tool like MetaMask, is often considered a bit of a misnomer. It just doesn’t quite fit what the tool is capable of doing. Like a Web3 wallet, a real-life wallet can hold identity information, currencies and maybe a photo or two, but it doesn’t have an address or keys, it doesn’t connect a user to activities or act as a passport to places or events — and it generally doesn’t store hundreds of collectibles or works of art. Now, to make things even a little more complicated: The ERC-6551 protocol introduces token-bound accounts, enabling any individual NFT to be a “wallet,” for lack of a better term. On a recent episode of the On the Other Side podcast, Benny Giang, the co-founder of Future Primitive and the historic CryptoKitties NFT collection, spoke with host Chase Chapman about the innovation. The idea, Giang says, sprang from a project he created with renowned streetwear designer Jeff Staple, called Sapienz.Keeping things on chain adds complexities “that really hinder what you can do with an NFT,” Giang says, with gas fees being the most significant barrier. This problem led to an “a-ha” moment for the two creators.
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🇭🇰 The Hong Kong Police Force launch new metaverse platform, ‘CyberDefender’
The cyber security unit of the Hong Kong Police Force have launched CyberDefender, a new metaverse platform designed to educate the public of the potential dangers associated with Web3 and the metaverse. According to a May 27 statement, the Cyber Security and Technology Crime Bureau (CSTCB) of the Hong Kong Police Force unveiled a new metaverse platform, CyberDefender, in an effort to prepare its citizens for the “challenges ahead in the digital age” with a focus on technology crime prevention. On the same day that it launched, an event was held on the platform, “Exploring the Metaverse," spanning across three virtual venues, with the aim of discussing crime prevention strategies within the metaverse. During the event, chief inspector of CSTCB, Mr Ip Cheuk-yu emphasized the importance of exercising caution in the metaverse, urging attendees to apply the same level of vigilance they practise while using the internet. “The decentralized nature of virtual assets in Web3 may also increase the likelihood of cyber criminals targeting end point devices, virtual asset wallets and smart contracts” he said. The Hong Kong Police Force plans to ramp up its technology crime educational initiatives.
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💰 ORDINALS IS BRINGING THE NFT INDUSTRY TO BITCOIN
The Ordinals protocol has taken the Bitcoin world by storm. Quickly amassing over 9,000,000 inscriptions, the new protocol allows for arbitrary data to be embedded on the Bitcoin blockchain. In addition to attracting attention from the NFT industry, Ordinals have led to a major increase in the fees required to send bitcoin, eliciting new debate on how Bitcoin should deal with high fee environments. In a recent interview with Bitcoin Magazine, Farokh, founder of the Rug Radio platform and a well-known collector within the NFT industry, shared insights into the world of Bitcoin NFTs and his vision for the Bitcoin inscription market’s future. Reflecting on his own Bitcoin and NFT journey, Farokh acknowledged the initial confusion surrounding Bitcoin in 2012, given the lack of development and user-friendly platforms at the time. However, he highlighted the rapid growth and development of NFT platforms in 2021, and how that is reflected now in the context of Bitcoin NFTs’ sudden rise in popularity.
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🪙 Binance Launching NFT Loan Feature
Binance marketplace is launching a non-fungible token (NFT) loan feature where digital asset holders can secure ETH loans by using their NFTs as collateral. The new service, called Binance NFT Loan, "will allow people to use blue-chip NFTs to borrow crypto, starting with ETH, introducing the benefits of DeFi to the Binance NFT community," Binance said in a press release. According to the platform, the tool offers competitive interest rates, instant liquidity. The feature, launching on Friday, will initially support Ethereum loans only and NFTs from Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), Azuki and Doodles collections. The platform plans to roll out new options in the future. Mayur Kamat, head of product at Binance, said in a press release that the new feature will provide new liquidity options for holders, "allowing them to participate in the market without having to let go of their precious NFTs.” "We’ve added a host of features that make it a one-stop shop for NFT trading and financial services for our community," said Kamat. "We’ve added a host of features that make it a one-stop shop for NFT trading and financial services for our community," said Kamat.
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🖼 F1 Ticket Provider Platinum Group Introduces NFT Tickets for Global Racing Event
Platinium Group, the leading ticket issuer for Formula 1, is releasing non-fungible token (NFT) race tickets – starting with the Monaco Grand Prix this weekend. Platinium Group has teamed up with blockchain infrastructure company Elemint and Web3 agency Bary to help create, mint and sell the NFT tickets. According to a press release, the tickets will be minted on Ethereum sidechain Polygon. Elie Zerbib, Co-Founder of Bary told CoinDesk that NFTs in the form of tickets offer buyers transparency, traceability, seamless digital ticketing, personalization and engagement. However, for a sport that has amassed fans from all over the world, easy onboarding is an essential tenet. “By providing a completely seamless experience on the main website, the user doesn't need to have any Web3 knowledge to purchase the NFT ticket,” said Zerbib. “We make users understand the benefits that come with this new type of ticketing and onboard them on a journey that will change their F1 experience.”
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📣 Nike OF1 NFT Sale Surpasses $1M Despite Delays, Tech Issues
Nike's .SWOOSH Web3 platform has released its first non-fungible token (NFT) sneaker collection, surpassing $1 million in sales despite persistent delays and technical issues that hindered the user experience. The sale of the highly-anticipated Nike virtual creations began on May 15, nearly a week after their previously-announced start date of May 8. The first round of sales, called "First Access," was open exclusively for select users who were airdropped ". The "General Access" sale began on May 24 – two weeks after its proposed sale date of May 10 – and aimed to offload any remaining NFTs from its total inventory of 106,453. As of Thursday afternoon, over 66,000 NFTs had been sold, according to Polygonscan. Each NFT was priced at $19.82 – a tribute to the year the Air Force 1 sneaker was first released – indicating that Nike has raked in about $1.3 million from sales so far, though the sale is ongoing and now ends on June 1. While initial numbers look promising, the launch was delayed several times due to technical and traffic issues, according to Nike, leaving excited buyers frustrated by the cumbersome process.
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🖼 Elfin Kingdom Announces NFT Staking Campaign
Approximately 40% of web3 games currently in development will go live within the next 12 to 18 months according to leading platforms Polygon and Immutable, highlighting the rapid pace of innovation in decentralized gaming. This trend reflects the increasing investments in web3 games, making them one of the most heavily invested sectors within blockchain in 2022. Web3 gaming has introduced exciting new monetization mechanisms to the world. Elfin Kingdom is one of the leading web3 games on Binance Smart Chain, with a dedicated user base that grew significantly in the past year during beta. The public launch of Elfin Kingdom last month solidified the games position as a frontrunner on BSC. As Elfin Games gears up for the launch of Elfin Arcade, which aims to attract fresh gamer and developer talent to the BSC gaming ecosystem, the platform's NFT Staking Campaign will play a vital role in driving growth and propelling the platform to new heights. The campaign creates a dynamic ecosystem where gamers can earn rewards while actively contributing to the success and expansion of the Elfin ecosystem.
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🟠 Binance enters NFT lending space, starting with ETH loans
Binance's NFT marketplace has introduced a new feature that enables users to borrow cryptocurrencies using NFTs as collateral, marking its entrance into the NFT lending space. The Binance NFT marketplace currently supports ether (ETH) borrowing against "blue-chip" NFTs, such as Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), Azuki and Doodles, according to an announcement Thursday. The current interest rate on NFT loans is 7.91% p.a. and loan to value ratio ranges from 40% to 60%, according to the Binance NFT website. There won't be a gas fee or Ethereum transaction fee charge. The Binance NFT loan feature comes shortly after NFT marketplace giant Blur launched its NFT lending protocol called Blend earlier this month. Blend allows lenders to set their own interest rates and loan-to-value ratios, as The Block Research's analyst Brad Kay reported recently. "Blend's meteoric rise in the NFT lending market is undeniable. As it continues to break new ground, the protocol is proving that a market-driven approach can successfully revolutionize the lending landscape," according to Kay.
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💰 Bitcoin Network Confidently Ranks 2nd In NFT Sales
Bitcoin emerges as the NFT world’s emerging star. According to CryptoSlam statistics, the network has swiftly risen to become the second-largest NFT chain as NFTs continue to attract the Bitcoin community. The network has seen an incredible amount of NFT sales on secondary marketplaces in the last 30 days. Bitcoin’s Ordinals trading volume is presently second only to Ethereum, which did $391.8 million in NFT volume, more than double that of Ordinals in 30-days $171 million beginning April 24. BRC-20 token transactions accounted for the bulk of ordinals activity on the network, according to a Dune dashboard created by BRC-20 token standard inventor Domo. BRC-20 is patterned after Ethereum’s ERC-20 token standard and was suggested in March 2023 by Anonymous developer Domo in Bitcoin Request for Comment 20. The BRC-20 token standard enables the minting and transfer of fungible tokens on the Bitcoin network by using ordinal inscriptions. Token standards are basic rules that specify how produced tokens function; for example, ERC-20 is the token standard for producing ERC-20 tokens on the Ethereum network. Unlike the ERC-20 standard, the Bitcoin BRC-20 standard has not been ratified and is still in the works.
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📣 NFT marketplace enables cross-chain purchases on multiple networks
A new feature on nonfungible token marketplace NFTrade allows collectors to purchase items on one network while paying on a separate one. The feature was created through an integration with cross-chain messaging protocol Rarimo, according to a May 23 announcement. The cross-chain purchases with NFTrade work on Ethereum, Polygon, Avalanche and BNB Chain. For example, if users want to buy an item on Avalanche, they can pay with a currency from any of the other three networks. The feature is also integrated with Circle’s Cross-Chain Transfer Protocol (CCTP), which allows buyers who pay with USD Coin to burn their tokens on one chain and have them be re-minted on another chain. Cross-chain purchases will also be expanded to Immutable X, Skale, Palm and Moonbeam at some point in the future. The competition between NFT marketplaces continues to heat up as they try to attract users with new features. LooksRare released a new version with lower fees on April 7, and Blur offered perpetual lending with NFT collateral beginning on May 1. Nonfungible token marketplace NFTrade now supports cross-chain purchases on Ethereum, Polygon, Avalanche and BNB Chain.
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⚡️ Mocaverse and CyberConnect Unleash the Power of Web3 in Membership NFT Collection
Mocaverse, a prominent membership NFT collection, has exciting news today! Significantly, they are teaming up with CyberConnect, a decentralized social network, in a strategic partnership. This collaboration aims to leverage CyberConnect’s scalable cross-chain infrastructure and social network protocol. Ultimately, they aim to enhance the Mocaverse Web3 Membership Program. Let’s take a closer look! Animoca Brands, the creators of the Mocaverse membership NFT collection, has announced an exciting partnership with CyberConnect. This strategic collaboration will use CyberConnect’s scalable technology to boost the Mocaverse Web3 Membership Program. Firslty, let’s take a look at Mocaverse. The vibrant PFP membership NFT collection within the Animoca Brands ecosystem is on a mission to foster collaboration, connection, and growth in the Web3 world. With 8,888 unique NFTs called Mocas, Mocaverse provides a platform for creators and enthusiasts alike. Notably, it aims to empower Mocaverse NFT holders to build their Web3 social reputation.
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🖼 Top NFT Collections of 2022 Lose Their Shine as Floor Prices Fall
Several popular nonfungible token (NFT) collections have seen their floor prices tumble this year. Moreover, the NFT boom of previous years has failed to gain any traction in 2023. NFT markets are in the doldrums. While crypto markets have gained 40% since the beginning of the year, the same cannot be said for NFTs. The Doodles collection has declined 90% in terms of floor price, falling from 23 ETH to just 2.3 ETH. At the time of writing, OpenSea was showing a floor price of just 2.169 ETH, or around $3,900. According to CryptoSlam, Doodles’ sales volume was $2.4 million in April, down from $53 million in April 2022. Moonbirds is another NFT collection that has fallen from its heights. Floor prices have dropped 94% from 32 ETH to 2.1 ETH, the researcher noted. Moonbirds’ sales volume is down from a whopping $484 million when the project launched in April 2022 to just $3.1 million last month, according to CryptoSlam. The Goblintown NFT collection once had a floor price of 6 ETH. It has now tanked to just 0.27 ETH, or $490, for one of these once sought-after nonfungible collector’s items. Sales volume has slumped 99% from the $37 million in monthly sales when the collection launched in May 2022.
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⚡️ OIST hosts French-Japanese Seminar on Metaverse and Virtual Reality
Okinawa Institute of Science and Technology (OIST) welcomed participants of the French-Japanese Seminar on “Metaverse and Virtual Reality – The Science and Technology of Interacting with Digital Worlds”. The Seminar was the brainchild of Dr. Anatole Lécuyer, Research Director at Inria, France’s National Institute for Research in Digital Science, who came to OIST in March 2023 as a guest of TSVP, OIST’s Theoretical Sciences Visiting Program. Its goal was to gather experts from Japan and France working on a wide range of areas in science and technologies needed to build the Metaverse, to exchange ideas and build collaborations. “Virtual reality has always been a multi-disciplinary subject,” said Dr. Lécuyer. “It’s too big a challenge to face alone”. The seminar was hosted by TSVP, with funding provided by the French Embassy in Japan, and was co-organized by Dr. Shunichi Kasahara of Sony Computer Science Laboratories, who recently joined OIST as a Visiting Researcher. “We can imagine having new technologies, abilities or new bodies, but how do we subjectively feel it as self?” Dr. Kasahara asked. Participants in the seminar were welcomed by OIST’s Dean of Research.
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📣 Immutable and MetaStudio Announce Partnership to Enhance the Gaming Metaverse
MetaStudio, a renowned Portuguese game studio, has announced a new partnership with Immutable, a leading Ethereum Layer 2 scaling solution provider, aimed at transforming the gaming metaverse. MetaStudio has been recognized for its innovative games and games-as-a-service offerings, along with their unique non-fungible token (NFT), Rune Realms, which offers holders a chance to partake in a 10% revenue share in the studio’s earnings. By integrating with Immutable’s Layer 2 blockchain infrastructure, MetaStudio can provide players with a dynamic gaming experience and unique benefits such as zero gas fees for peer-to-peer trading and secure ownership of in-game assets. This partnership comes at a time when interest in the metaverse is increasing rapidly. As a collective virtual shared space created by the convergence of virtually enhanced physical and digitally created reality, the metaverse offers significant opportunities for innovative gaming experiences. The partnership between Immutable and MetaStudio is expected to contribute significantly to this evolution.
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🖼 FIRST RGB-POWERED NFT MARKETPLACE LAUNCHES AT BITCOIN 2023
DIBA, the first Bitcoin NFT marketplace utilizing RGB smart contracts, has officially launched on mainnet. According to a press release sent to Bitcoin Magazine, the platform also introduces BitMask, an exclusive Bitcoin-only wallet capable of storing unique digital assets (UDAs) such as music and art. The UDAs will be hosted on high availability storage and cloud services provided by Hut 8, a publicly traded bitcoin miner in North America. DIBA aims to bring Bitcoin utility to the masses by enabling the exchange of UDAs on a decentralized and censorship-resistant network. Notable bitcoin investors, including Tim Draper of Draper Associates and Bill Tai of ACTAI Unicorn Fund, support the venture. Gideon Nweze, founder and CEO of DIBA, expressed his excitement about the launch, stating, "This marks a major milestone in the transition of the internet onto Bitcoin." Tim Draper also commended DIBA's innovative approach, emphasizing the potential of NFTs on Bitcoin. He said, "What Gideon and the team at DIBA have built is a testament to the potential NFTs on Bitcoin hold in capturing the creative and sovereign spirit of this next generation."
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🖼 Crypto hater Peter Schiff to drop Bitcoin Ordinals NFT art collection
Despite hating on crypto for years, and calling NFTs worthless and easy to replicate two years ago, Peter Schiff is set to release an NFT art collection on Bitcoin. In what seems like a parody but isn’t, economist, gold proponent and vocal crypto skeptic Peter Schiff has unveiled a collaborative nonfungible token (NFT) art collection on the Bitcoin network that will soon go up for auction. The reaction from the crypto community has been mixed, with people generally baffled, amused or welcoming. Despite all of that, Schiff unveiled the “Golden Triumph” NFT collection in a May 27 Twitter thread in collaboration with one of his “favorite artists,” who goes by the pseudonym “Market Price.“ “This collaboration features the original painting ‘Golden Triumph’ as well as a series of prints and Ordinals inscribed on the Bitcoin blockchain,” he wrote. Golden Triumph consists of one physical painting on an oil linen canvas depicting a human hand holding a bar of gold, 50 prints on archival paper depicting the same image, and 50 digital versions inscribed as Ordinal NFTs on Bitcoin. It appears, however, that Schiff hasn’t done a complete turnaround on BTC, but has woken up to a use case for blockchain technology: verifiable ownership of assets such as art via NFTs.
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🖼 Blend Drives Surge In NFT Lending Activity
Blend, a recently launched lending protocol from Blur, the top NFT marketplace by volume, has driven a surge in NFT loan activity this month. Combined NFT loan volumes totaled $375M from May 1 until May 22, of which Blend accounted for 82% or $308M, according to a report from DappRadar. BendDAO, another popular NFT lending platform, drove $315M since launching in March 2020. Blend’s total value locked stands at $24M. “Blur’s activity has shifted from trading to lending, which currently represents 46.2% of recent [weekly] operations,” DappRadar said. “The pivot from trading to lending, and a remarkable growth in daily unique users, are testament to Blur’s growing influence and the impact of its strategic maneuvers.” Blend’s closest rival for May is X2Y2 with $20.7M in loan volume or a 5.5% market share, followed by NftFi with $19.9M or 5.3%. Non-fungibles have suffered from a protracted downturn since January 2022, with trade volumes steadily drying up and floor prices plummeting. NFT trading drove $466M in volume since the start of May, beating out the nascent lending sector by just 20%.
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🖼 Ubisoft's Rabbids Invade Reddit as Free NFTs
Ubisoft’s Rabbids are quirky white alien rabbit creatures that have spawned numerous games since the mid-2000s and even a couple Mario crossover games with Nintendo. Now, Redditors can claim free Rabbids-themed NFT avatars for their profiles on the social forum site. Each Polygon NFT or “digital collectible” features a Rabbid in various outfits and poses, from a grumpy knight with a plunger to a smiling unicorn rabbit with a golden plunger (the plunger was the primary weapon in early Rabbids games). Rabbid NFTs on Reddit matter? Well, Reddit users went wild for the online discussion platform's “Snoo” NFT avatars when they launched in July 2022, and have since become one of the most prominent brand NFT launches to date. At time of writing, all of the “Plunger Rabbid” and “Unicorn Rabbid” avatars have already been claimed and are now “sold out,” per Reddit’s website. Inspired by Reddit’s humanoid alien mascot, the Snoo NFTs have amassed a market cap of over $330 million, according to a Dune dashboard. With Snoo, Reddit has released over 13.5 million Polygon NFTs so far across more than 9.7 million unique wallets—and most of those were freebies given away to Reddit users.
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🇨🇳 Chinese city releases policy draft for metaverse industry development
On May 24, the Chinese city of Zhengzhou announced a series of policy proposals to support metaverse companies operating in the region. As part of the initiatives, the municipal government will establish a dedicated fund worth 10 billion yuan ($1.42 billion) to foster growth and development in the industry. Per the government draft, metaverse companies that choose to relocate their headquarters to Zhengzhou will have the opportunity. Any company engaged in the development of metaverse use cases in the city — regardless of its headquarters location — will have the opportunity to receive up to 5 million yuan ($710,000) for each project certified as viable by the municipal government. The specific date of the fund allocation has not been disclosed as of now. In addition to unveiling the funding policies, the municipal government of Zhengzhou has also outlined its long-term vision for the metaverse development in the city. It foresees that metaverse-related industries in Zhengzhou will achieve an annual revenue surpassing 200 billion yuan ($28.34 billion) by the end of 2025.
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🖼 Milady NFTs Get Dogecoin Treatment as Prices Retrace Days After Elon Musk Tweet
Prices of the popular Milady NFT collection have retracted gains from the past weeks as holders likely took profits on a move influenced by an Elon Musk tweet. Earlier in May, the Milady collection spiked after receiving acknowledgment from Twitter owner Musk who tweeted a picture of a Milady avatar with the words “There is no meme, I love you” overlaid on the picture. Each NFT traded for 3.4 ether at the time. All gains have since reversed, as the NFT collection is now back at prices before Musk’s tweet, data from OpenSea analytics shows, dropping to as low as 3.2 ether per NFT on Thursday. That immediately prices surged as much as 200%, each Milady fetching $13,700 worth of ether (ETH) at the peak. Elsewhere, an unrelated LADYS token spiked thousands of percent, reaching a market capitalization of over $120 million. This is similar to the price action seen in dogecoin (DOGE) – which enjoys Musk’s support – which typically spikes whenever it is mentioned by the entrepreneur. These jumps are short-lived, however, as traders and automated bots pile on the tokens.
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🤖 Reddit the Only Big Tech Firm That 'Cracked the NFT Code': Polygon Co-founder
Polygon’s co-founder said the social media giant “cracked the code” for NFT adoption, during a recent AMA session on Reddit. Besides sharing pro-crypto and Polygon views like how Web3 will complement Web2 in areas like finance, gaming, and social media, the founder also explained how Reddit managed to win over its community with the launch of its digital collectibles. Reddit was responsible for adding 3 million crypto users in the first three months following its NFT launch. The social media platform introduced NFTs as “Collectible Avatars” on Polygon in July 2022 via free airdrops and early sales of digital collectibles for up to $100. The early NFTs went on to sell for hundreds of dollars on the secondary market. Nailwal said that Reddit "is perhaps the only well-known Big Tech company who has cracked the NFT code and they are able to drive a lot of engagement with Reddit NFTs." Polygon represents a multi-chain ecosystem of sidechains that leverage Ethereum's security to provide a scalable application platform. Currently, it supports two public blockchains: Polygon and Polygon zkEVM. Over the last ten months, the company has successfully onboarded 9.7 million.
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🖼 30-Day Bitcoin NFT Sales Surge to $173 Million, Securing Second Place in Blockchain Market
In the past month, recent data reveals that sales of non-fungible tokens (NFTs) originating from the Bitcoin blockchain have surged to $173.28 million. Surpassing 20 alternative blockchain networks, Bitcoin-based NFT sales now secure the second position in the realm of blockchain sales, with only Ethereum reigning supreme. Amidst the fervor surrounding the Ordinal inscription trend, Bitcoin-based NFTs have skyrocketed in popularity. The sales amassed over the past 30 days firmly established the network as the second-largest in terms of sales within this time frame. While Ethereum NFT sales saw $392.23 million, this past month Bitcoin sales tallied up to $173.28 million, up 408.29% from the month prior. However, there has been a significant 47% decline in the number of buyers for Bitcoin-based NFTs, totaling 6,955 over the course of the past 30 days. Insights from cryptoslam.io data highlight that the leading NFT collection, in terms of sales during this period, is the Bored Ape Yacht Club (BAYC). The BAYC collection garnered $39,307,853 in sales over the past month, closely followed by the Ordi BRC20 NFTs.
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🖼 Brave Browser Rolls Out Web3 Calling With NFT Token Gating
The privacy browser Brave Browser announced on Twitter that its video conferencing service Brave Talk introduced a Web3 call function that allows hosts to use NFT and POAP for token-gated access. While the feature only supports token gating for Ethereum NFTs, Brave Browser plans to expand support for non-Ethereum NFTs soon. In the future, moderators can grant access based on specific token balances or previous token ownership or send cryptocurrencies to participants. Brave Software, best known for its fast and secure browser, is reimagining the online for users, publishers, and advertising. Brave’s blockchain-based digital advertising network enables consumers to opt into privacy-protecting adverts in exchange for Basic Attention Tokens (BAT). These tokens may be redeemed, used on the site, or used to tip or donate to publishers and content producers. By implementing Web3 capability into its browser, search engine, and multi-chain crypto wallet, Brave Browser actively promotes Web3 adoption. Brave Browser now boasts more than 57 million monthly active users and supports more than 1.7 million developers.
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⚡️ The NFT Gaming Company Announces Enhancements to AI Gaming Platform Leveraging RECUR Builder
The NFT Gaming Company, Inc. ("NFTG" or the "Company"), a company developing a digital gaming platform and community that will offer users the ability to create unique avatars playable in all of the games on the platform in the form of non-fungible tokens, or “NFTs,” today announced that it will be leveraging the powerful web3 tool, RECUR Builder, to deliver its AI gaming offerings to market. The NFT Gaming Company will be building on RECUR’s cutting-edge Web3 infrastructure to monetize their expanding game catalog. The NFT Gaming Company will also provide experiences and unique opportunities for the RECUR community. “Partnering with RECUR allows us to bring our AI gaming offering to market as quickly as possible in the best web3 infrastructure available,” said Vadim Mats, CEO of NFT Gaming Company. “This relationship enables us to utilize the same technology as top brands like Paramount, Nickelodeon, Star Trek™, Top Gun: Maverick, emoji®, Care Bears™, and others.” "We're delighted to have The NFT Gaming Company onboard to enhance their AI gaming product and create unforgettable web3 experiences with RECUR Builder.
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🖼 Fantom and Dogecoin holders rush to secure free NFT during Avorak AI ICO
The world of NFTs is growing daily, with apparel brands joining the field to secure a significant market share in the Web3 ecology. Fantom and Dogecoin holders have showcased massive interests in non-fungible tokens (NFTs) offered in the ecosystem of an emerging AI-powered technology, Avorak AI. Fantom is classified as a decentralized smart contracting platform that offers an alternative to Ethereum. Dogecoin is a cryptocurrency designed and developed in December 2013. The project was launched as a meme coin offering peer-to-peer and open-source transactions. The Meme coin has attracted a massive cult-like following of crypto enthusiasts, speculators, and public figures. In fact, Tesla and SpaceX Founder Elon Musk has openly endorsed the project on Twitter. For the longest time, Fantom has pitched itself as a faster network than its competitors. Fantom’s FTM price history indicated the token started selling for $0.017 and has moved on a roller coaster. DOGE has also been in a frenzy with Elon Musk changing the Twitter Logo to Dogecoin’s logo.
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📣 Glory Star's Digital Collection NFT App CheerReal Announces Major Platform Upgrade
Glory Star New Media Group Holdings Limited, ("Glory Star", the "Company" or "we") (NASDAQ: GSMG), a leading digital media platform and content-driven e-commerce company in China, today announced a major upgrade to its self-developed digital collection non-fungible tokens ("NFT") application, CheerReal. The update is now available on both Android and IOS apps and comes with improved security, advanced technology, enhanced functionality, and a more user-friendly interface. CheerReal is positioned as a "cultural and artistic digital collection" platform that aims to create a new cultural and artistic interactive experience, connecting virtual and real economy through innovative digital art and a diverse and inclusive metaverse world. As a member of the Trusted Blockchain Branch of the Beijing Information Industry Association, the platform is powered by Blockchain Service Network-Decentralized Digital Certificate ("BSN-DDC"), a network infrastructure that is jointly initiated by the State Information Center, China Mobile, and China UnionPay, which consists of more than ten BSN Open Permissioned Blockchains with robust technical systems and distinctive features.
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📣 Tech Mahindra Partners With EarthID To Create Blueprint For Self-Sovereign Identity (SSI) Powered Metaverse
Tech Mahindra, a leading provider of digital transformation, consulting and business re-engineering services and solutions, has recently announced a strategic partnership with EarthID, the Decentralized Identity Management platform that allows secure and frictionless exchange and verification of identity information. The partnership will co-create a blueprint for a Self-Sovereign Identity (SSI) powered Metaverse platform that will provide users control over their data. SSI-powered Metaverse will empower enterprises to mitigate security concerns related to stolen identities and sensitive data, which may lead to huge legal and financial losses. Together, Tech Mahindra and EarthID will create industry-leading solutions to prevent identity theft, optimize costs, and advance sustainability by facilitating secure, frictionless transmission and verification of identities. On this partnership Rajesh Dhuddu, Global Business Head, Emerging Technology Practice, Tech Mahindra, said, "In the early days of the internet, when the Safe Code of Practice for online interactions was not formed, naive internet users shared Personally Identifiable Information (PII) without restriction.
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⚡️ Metaverse in Healthcare Market is Expected to Reach $79.6 billion
The concept of the metaverse, a virtual reality space where individuals can interact with each other and digital content, is poised to make significant strides in the healthcare industry in the near future. The metaverse has the potential to revolutionize healthcare delivery by offering immersive and personalized experiences for patients, providers, and researchers. In the metaverse, healthcare professionals can conduct virtual consultations, perform medical procedures in a simulated environment. Metaverse in Healthcare market in terms of revenue was estimated to be worth $9.5 billion in 2023 and is poised to reach $79.6 billion by 2028, growing at a CAGR of 52.9% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. The factors driving market growth include increasing demand for telehealthcare services, and shift towards patient-centric healthcare delivery. However, the lack of data security and concerns regarding data theft and healthcare fraud, and authenticity and reliability issues are challenging the market growth during the forecast period. Based on product & service, the software segment accounted for the largest share of 70.9% of the metaverse in healthcare market.
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🖼 'In Hindsight the Metaverse Will Be Obvious and Inevitable' Says Affyn CEO Lucaz Lee
Despite the many obstacles that currently make mainstream adoption seem impossible, the metaverse will eventually “mature when gateways that form the access point for entering the myriads of metaverses come onstream,” Lucaz Lee, CEO of Affyn, has said. Lee suggested that when this point is reached, entering and exiting the metaverse will be as easy “as ordering dinner from a takeaway app.” Lee also said he believes augmented reality (AR), rather than virtual reality, will play a key role in the metaverse. The boss of Affyn, a play-and-earn metaverse, said this is because AR is capable of being “seamlessly integrated into the apps we use every day.” All of this will happen with users being none the wiser. The CEO also offered his thoughts on why the play-to-earn (P2E) model has not lived up to the hype and what he sees as the more sustainable Web3 gaming model. He also explained to Bitcoin.com News why he still believes in the metaverse despite the many false starts he has seen so far. Nevertheless, the core elements that make the metaverse so immersive are not the technology it’s built upon, but rather the communities that coalesce around it. Just as newsgroups united people with shared interests in the early days of the internet.
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📣 Influencer served settlement demand via NFT following $7M token presale
A nonfungible token (NFT) influencer has been served with a settlement demand via an NFT — which casually dropped the “F-bomb” several times — alleging that the influencer engaged in wire fraud “at a minimum” on a recent $7 million token presale. On May 20, Mike Kanovitz, a partner at law firm Loevy & Loevy, stated in a tweet that a settlement demand letter had been served as an NFT to the wallet address associated with the influencer known as Ben.eth, whose real identity remains undisclosed. Ben.eth “used a manipulative launch strategy” for the Psyop (PSYOP) token, which raised $7 million in its initial presale over 72 hours. The concerns revolved around how the liquidity pools (LP) were structured and how the tokens “trickled out” after the presale. Shortly after the letter was published on Twitter, Ben.eth tweeted that 50% of the tokens had been sent out and “the rest will be sent in short order.” “At a minimum, you would be guilty of wire fraud, which is a predicate act for racketeering and the basis for a treble damages award against you ($7 million becomes $21 million),” the letter stated. he warned of a potentially “painful” process for Ben.eth if the letter is not complied with.
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