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🖼 Sega Co-COO Shuji Utsumi Is Optimistic About the Potential of NFTs in Gaming
Sega Co-COO Shuji Utsumi has shared optimistic thoughts on blockchain gaming and the unique role NFTs could play in the future of video games—months after previously telling Bloomberg that he felt play-to-earn games are “boring.” “Within blockchain games, owning assets and, in some cases, earning money, could become player wants that haven’t existed before,” Utsumi said in an interview first published as a sponsored post with Dengeki Online last month and translated into a blog post this week. “This is indeed a transitional phase for the industry,” Utsumi added. Utsumi’s comments come as part of a broader conversation about how the Sonic the Hedgehog publisher has licensed its Sangokushi Taisen card game’s IP to blockchain firm Double Jump.Tokyo, which is developing a new trading card game (TCG) called Battle of Three Kingdoms with NFT cards inspired by the original 2005 game. The new Sega-licensed TCG will primarily target Asia’s gaming market, will offer more than 100 different cards at launch, and will be supported post-launch with continuous game patches and updates, according to the post. Utsumi said that the new game was licensed to help “revive” the original game’s IP while still making sure to “protect what needs to be protected.”
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📊 Metaverse In Automotive to Reach $27.18 billion, Globally, by 2032 at 29.9% CAGR: Allied Market Research
Allied Market Research published a report, titled, "Metaverse in Automotive Market by product (Hardware, Software), Technology (Virtual Reality, Augmented Reality, Mixed Reality), and Application (Simulation, Testing and Designing, Advertising, Online Car Purchasing): Global Opportunity Analysis and Industry Forecast, 2022-2032". According to the report, the global metaverse in automotive market generated $2.18 billion in 2022, and is anticipated to generate $27.18 billion by 2032, witnessing a CAGR of 29.9% from 2023 to 2032. Factors such as surge in focus on leveraging the metaverse for marketing campaigns, increase in demand for modern vehicle shopping experiences with immersive virtual showrooms, and growing demand for intuitive metaverse design for product development and manufacturing. However, car maintenance and repairs by metaverse, and incorporation of metaverse in automotive infotainment are anticipated to hinder market growth. On the other hand, cost associated with installing and maintaining premium components and issues related to cybersecurity and privacy provide a remarkable growth opportunity for the market players operating in the market.
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🔫 Reddam House Embraces Innovative Learning with VR and the Metaverse
Reddam House Helderfontein and Waterfall, part of the Inspired Education Group, have wholeheartedly embraced the realm of virtual reality (VR) and metaverse-based learning within their classrooms. Following a triumphant initial trial across five international schools, the metaverse-based learning program is now in the process of implementation in 17 other Reddam schools worldwide. The convergence of VR and the metaverse materializes as a catalyst for enriched and more efficacious learning undertakings. Reddam House Helderfontein and Waterfall, students have seamlessly integrated VR headsets and the metaverse into their academic routines, thereby embarking on scientific experiments, embarking on virtual journeys to iconic landmarks, and peering into the intricate inner mechanisms of volcanoes. By skillfully intertwining VR and metaverse tools into the curriculum, these schools have ingeniously fostered immersive and interactive learning domains, which not only captivate the imagination of their students but also present diverse subjects in a profoundly innovative light. This pedagogical paradigm, deeply attuned to varying learning styles, provides a promising glimpse into the vistas of education in the digital epoch.
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🔫 Microsoft’s Activision buy may see more metaverse in the office and crypto in gaming
A lot was said about the metaverse when the Microsoft deal to acquire Activision Blizzard was announced in January 2022. The attention was mainly on business communications rather than gaming. If public statements and leaked documents are any guide, the Activision deal could promise more for the future of crypto than the metaverse. The metaverse had high visibility in Microsoft’s announcement of its deal for Activision in January 2002. Nadella’s emphasis on work is telling. He listed four things and referred to them as “all three” — apparently, “meetings and games” count as one. Microsoft’s metaverse platform, Mesh, which began previews this month, is positioned as a complement to its Teams business communications platform. Spencer questioned what the metaverse even is in an interview with Bloomberg in August. “My view on Metaverse is that gamers have been in the Metaverse for 30 years,” he said. He said little about the Web3 metaverse except that he was “cautious” about play-to-earn. He was later quoted as calling the metaverse “a poorly built videogame” and saying, “Building a metaverse that looks like a meeting room, I just find that’s not where I want to spend most of my time.”
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🖼 LINE NEXT Unveils “Sweet Monster Guardians” Web3 Game with NFT Integration
LINE NEXT Inc., the subsidiary of LINE dedicated to advancing the NFT ecosystem, has revealed the worldwide launch of GAME DOSI’s second game, “Sweet Monster Guardians,” spanning 180 countries. Notably, the game will not be available in South Korea, Japan, and China. Simultaneously, the public test phase for the new game “Project GD,” originating from GAME DOSI’s original game IP, will commence. “Sweet Monster Guardians” is a web game intricately woven with Non-Fungible Tokens (NFTs) and has been crafted by GAME DOSI. Set in a whimsical and fantastical universe, “Sweet Monster Guardians” stars sweet-natured monsters as bearers of happiness. United in their mission, these creatures safeguard the town from enigmatic external threats. Players are empowered to make strategic selections from a range of character cards, deploying them for combat against adversaries in diverse game modes. Merging cards can amplify character abilities, and real-time multiplayer mode enables players to compete with others. To celebrate the launch of “Sweet Monster Guardians,” those who possess Sweetheart Monster NFTs will receive in-game rewards. These NFTs can be seamlessly incorporated into the game, augmenting the players’ in-game energy. Furthermore, commencing from October 6th, exclusive “SWEET MONSTER GUARDIANS” NFTs.
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🖼 NFTpay Checkout Solution Accepts Amex And Discover
NFTpay, based in Miami, FL, is pleased to announce that they are now accepting Amex and Discover. An NFT purchasing solution, NFTpay is committed to staying at the forefront of the NFT ecosystem. By integrating with Amex and Discover, NFTpay’s payment solution ensures that their technology remains a hub of innovation where humans can thrive. The introduction of their credit card NFT checkout solution means that buying and selling NFTs, a process which might normally take days or even weeks, is now faster, simpler and easier for everyone. The vast majority of potential NFT buyers, up to 99% of the community, do not have cryptocurrency or a crypto wallet. This complicates NFT purchases and may even discourage individuals who might otherwise have become involved in NFT projects. By providing a way to purchase NFTs with a credit card, NFTpay has made the world of NFTs a lot more accessible. Now anyone interested in buying NFTs can do so without having to open a crypto wallet. In addition to making it easier for buyers to make purchases, NFTpay makes it easier for sellers to connect with interested parties. Customers are more likely to stay on a page and make a purchase if doing so is an easy process. NFTpay’s credit card solution enhances the convenience of the entire process, thus incentivising them to follow through with an intended purchase.
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🖼 Ferrari Lead Designer Unveils Heartfelt NFT Tribute
Alessandro Fiori, the Lead Designer at Ferrari, is set to release an NFT on Oct. 11. His piece will drop exclusively with Exchange.art, a fine art platform on Solana that now also supports Ethereum transactions. Fiori releases his digital art under the name “Mr. Uramaki.” The piece, named “After All This Time,” pays homage to a dearly departed person in his life. From an early age, Alessandro embraced the arts despite his family wanting him to pursue a career in medicine. After high school, Fiori moved cities to study Industrial Design with an automotive specialization. After college, Alessandro prioritized his career, sidelining his genuine love for art and design, his true form of self-expression. Yet, a unique first date with a special woman reignited this passion when he drew a sentimental sketch for her on a placemat—a gesture she cherished. Their bond grew, and for three years, every meal they had together became an opportunity for Alessandro to craft a new artwork, be it on a napkin or a scrap of paper. Sadly, she passed away in 2018, leading him to put away his art tools. To honor their anniversary and her fondness for New York City, Alessandro planned an exhibition showcasing the drawings he had given her. He now believes that Web3 offers the perfect platform to bring this touching tribute to life.
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🔫 Upland Celebrates Third Year of NFL Player Collaborations in the Metaverse
Upland, the prominent web3 Metaverse SuperApp, has proudly announced its ongoing partnership with officially licensed NFL players for the third consecutive year. This exciting collaboration with the NFL Players Association (NFLPA), facilitated by OneTeam Partners, has resulted in the introduction of new NFLPA Bundle types, including the Mixed Essentials Bundle, Team Essentials Bundle, and Pass Bundles. Upland’s NFLPA-licensed product is designed to provide an immersive web3 experience for football enthusiasts. The Upland Metaverse offers a range of gamified digital collectibles featuring officially licensed NFL players. These digital items allow fans to engage with their favorite athletes in unique ways. Upland facilitates platform-sponsored community events that contribute to enhancing users’ Fan Scores. Accessing digital NFL player collectibles within the Upland Metaverse is an entertaining and gamified experience for devoted fans. Upland offers bundles containing various collectibles, each representing different NFL players. For the 2023-24 season, three new NFLPA Bundle types have been introduced: the Mixed Essentials Bundle, Team Essentials Bundle, and Pass Bundles. Collecting these items not only enriches the fan experience but also increases fans’ chances of receiving rewards.
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🖼 Cristiano Ronaldo and Binance Unveil CR7 ForeverZone NFT Collection
The essence of this venture is to bring fans closer to Ronaldo in the Web3 space. Each mystery box contains an exclusive NFT influenced by Ronaldo’s illustrious football career. Moreover, the collection boasts of 50 autographed footballs and jerseys. Additionally, there’s an exciting inclusion of 50 tickets to the anticipated Binance Blockchain Week. Notably, special NFTs reflect previous Ronaldo collaborations. Each set features a golden ticket NFT, offering fans a once-in-a-lifetime opportunity to train personally with Ronaldo. Ronaldo’s journey in the NFT space began after initiating a relationship with Binance last summer. He introduced his “CR7” NFT collection, showcasing seven animated sculptures across various rarity tiers. To offer fans unparalleled experiences on the Binance NFT platform. Additionally, he unveiled a second collection named “Forever CR7: The GOAT” later in the year. This collection celebrates digital renditions of some of his iconic goals. Through the Binance partnership, he believes he has found a way to establish this profound connection and share a part of his legacy. Binance’s Chief Marketing Officer, Rachel Conlan, highlighted Ronaldo’s innovative approach in sports and beyond.
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🪙 Ethereum NFT production falls to all-time low in September
Non-fungible token (NFT) production on Ethereum, or the value of the primary sales generated from NFT minting, fell to an all-time low of US$17.55 million in September, down 12.4% from US$20.05 million in August, according to Forkast Labs data. NFTs are blockchain-based digital assets that can provide information on digital ownership. Notable collections like the Bored Ape Yacht Club (BAYC) were trading at a floor price of 128 ETH (US$211,000) in May 2022, before dropping more than 60% along with other notable NFT collections like CryptoPunks. “Blue-chip NFT collections such as Bored Ape Yacht Club and CryptoPunks serve as indicators of broader NFT market sentiment. Their decline might signify a shift in investor sentiment, perhaps questioning the intrinsic value of such assets,” Matan Doyich, the chief executive officer of Crypto Index, a firm building centralized infrastructure for tokenized crypto exchange-traded funds, told Forkast. NFT production on the Polygon blockchain fell to a seven-month low of US$4.7 million in September, down from a yearly high of US$14.44 million in August. Polygon NFT production is up 219% year-to-date, from US$1.47 million in January. Despite the rising numbers, the Forkast POL NFT Composite fell over 46% year-to-date.
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🖼 BAYC NFT Sells for 153 ETH Just 11 Months After 777 ETH Purchase – Seller Loses 80%
A Bored Ape Yacht Club (BAYC) NFT that was the most valuable Trippy Bored Ape on record when it sold for 777 ETH in November 2022 has exchanged hands for 153 ETH. Thanks to rare attributes, including trippy fur and a gold crown, BAYC #8585 holds the title of the most expensive ‘Trippy’ BAYC ever sold, valued at 777 ETH in October 2022. However, the latest trade represents a significant loss for the seller. In Ethereum value, the latest sale represents an 80% markdown on the NFT’s previous price. The #8585 ‘Trippy’ bored Ape still holds the highest sale price in its fur category – and currently shares fifth spot with the most expensive Bored Ape sale according to OpenSea. However, just eleven months after the previous buyer forked out over $1 million for the NFT, it was sold at a 75% loss. A look at the wallet of the new owner reveals them to be an avid NFT collector. Their portfolio includes 176 NFTs from 15 collections. After their latest purchase, they now own six BAYC NFTs. The same wallet also holds three CryptoPunks. According to NFTGo, the sale occurred on Sunday morning on the X2Y2 marketplace. Although not the largest NFT marketplace by trade volume, X2Y2 offers one major advantage for traders: zero compulsory royalty fees.
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🖼 Coca-Cola Masterpiece NFT sale shifts 80,000 digital assets for $500,000
The Coca-Cola Co.’s NFT (non-fungible token) auction of its ‘Masterpiece’ collection took in $543,600 in digital asset sales during a promotional event for the digital artwork. In total, eight NFTs were made available to purchase during the ‘Onchain Summer’ blockchain promotional event held by cryptocurrency exchange platform Coinbase. Over the course of a 72-hour sale, roughly 80,000 of the NFTs were purchased by collectors and crypto-token prospectors. The Coca-Cola Masterpiece collection was initially created as part of a media campaign by London-based creative agency Blitzworks. The advert featured famous artworks – Edvard Munch’s The Scream and Vermeer’s Girl with a Pearl Earring – mixed with works by contemporary artists such as Vikram Kushwah and Fatma Ramadan. “At Coca‑Cola, we have a long history of collaborating with the artist community, and now technology and innovation allows us to continue creating with artists in new and interesting ways,” said Pratik Thakar, senior director of generative AI at The Coca‑Cola Co. In 2021, the drinks giant released a one-off NFT in aid of Special Olympics International that made just over $575,000 at auction.
NFTs | OpenSea | News
🖼 Yuga Labs Plans to Part Ways with OpenSea NFT Marketplace Following Royalty Model Change
Yuga Labs, the entity behind the popular NFT collection Bored Ape Yacht Club (BAYC), is set to halt support for OpenSea due to a change in the platform's royalty model. In a Saturday tweet, Yuga Labs announced that it plans to wind down support for OpenSea following the upcoming removal of Operator Filter, an on-chain royalty enforcement tool. “Yuga Labs will begin the process of sunsetting support for OpenSea’s SeaPort for all upgradable contracts and any new collections, with the aim of this being complete in February 2024 in tandem with OpenSea’s approach,” the announcement reads. OpenSea introduced Operator Filter in November last year as a means for creators to ensure that secondary sales of their NFTs only occur on marketplaces that enforce creator royalties. The platform cited a lack of adoption within the ecosystem, loopholes that allowed platforms to bypass the tool, and pushback from creators as the reasons behind this move. In response to OpenSea's decision, Yuga Labs took to Twitter to share the company's plan to gradually wind down its use of OpenSea's Seaport marketplace smart contract. The company reiterated its commitment to protecting creator royalties, ensuring that creators are adequately compensated for their work.
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🔫 Birdkeepers: A Captivating Game in the Roblox Metaverse
Birdkeepers is a standout game within the vast Roblox metaverse, offering players an extraordinary and immersive experience. In this virtual world, avian companions are not only allies but also formidable partners in thrilling escapades. To accelerate their progress, players can make use of codes that provide access to vital resources. These codes come with various rewards but have time limits, requiring players to redeem them promptly. Notable codes include “supertreats,” which offer boosts, and “EXCALIBUR,” which grants boosts, treats, and currency. The gameplay of Birdkeepers revolves around exploration and resource gathering. Players are plunged into the heart of mountains, where collecting resources becomes the core focus. This ingenious mechanic blends exploration and resource management seamlessly, motivating players to delve into the expansive virtual world and amass valuable assets for their adventures. While new codes for Birdkeepers are no longer being released due to the discontinuation of game development, players can stay informed about future updates. This can be achieved by following the game’s developer on Twitter or joining the Official Beekeepers Discord Server. Important announcements regarding newly unveiled codes will be communicated through these channels. Birdkeepers offers a unique and exhilarating adventure within the Roblox metaverse.
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🖼 Bored Ape NFT investors are suing because their apes aren't worth much
These tiny little creatures have popped back into the news cycle because, in a shocking turn of events, the guys who bought the NFTs are not happy with their purchases. A group of investors are suing a whole lot of people over an auction and promotion of the Bored Ape Yacht Club NFTs after the prices dropped, CNN reported. According to CNN, the plaintiffs are suing 30 defendants, including Sotheby’s Holdings Inc and some of the celebrities that endorsed the NFTS because the auction house "misleadingly promoted" the collectibles. "Sotheby's representations that the undisclosed buyer was a 'traditional' collector had misleadingly created the impression that the market for BAYC NFTs had crossed over to a mainstream audience," the lawsuit claimed, according to ArsTechnica. The plaintiffs argued that the investors bought the NFTs "with a reasonable expectation of profit from owning them." They say they did not see this profit. ArsTechnica reported that the investors first sued Bored Ape creator Yuga Labs, four company executives, and a bunch of celebrities, including Paris Hilton, Gwyneth Paltrow, Kevin Hart, Snoop Dogg, Serena Williams, Madonna, Jimmy Fallon, Steph Curry, and Justin Bieber in December 2022. They added Sotheby's as a defendant on August 4.
NFTs | OpenSea | News
🖼 Sega jumps back on NFT bandwagon, is “exploring ways” to use Blockchain in games
Back in 2020, it seemed that every major games publisher was on board with the NFT and crypto craze as it created more opportunities to capitalize on in-game purchases. Sega went all-in at the peak but pulled out once public interest had started to drain. Despite calling play-to-earn games “boring,” it seems like the company wants to gain a few more rings in a surprising upcoming project. Despite this, the pair are optimistic that they can break through the negative stigma of NFTs to provide a compelling experience. Sega’s Co-COO Shuji Utsumi spoke with Japanese outlet Dengeki Online about an upcoming blockchain game based on the Three Kingdoms digital card series for mobile gamers. (A translation of the interview is available here.) The new game is being developed by double jump.tokyo, who previously collaborated with Square Enix and Tezuka Osamu, creators of Astro Boy. Sega announced this partnership back in 2021 on their official Twitter to a ton of fan backlash regarding the environmental impact of the blockchain. Commenters were quick to point out that the core message of Sonic The Hedgehog, saving animals from deforestation and scientific testing, went against the wasteful platform.
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🔫 CGI Federal and Partners Pioneering Metaverse Integration for the U.S. Marine Corps
CGI Federal has successfully concluded a real-time pilot within a planetary-scale Metaverse environment, in collaboration with the U.S. Marine Corps, marking a significant milestone in the convergence of digital technology and military operations. The pilot, executed in partnership with Microsoft and Battle Road Digital, involved the integration of the Marine Corps Platform Integration Center’s (MCPIC) logistics and asset management systems with digital twin technology. Horace Blackman, Senior Vice President of Defense, Intelligence, and Space at CGI, announced this achievement and highlighted its profound implications. He underscored the pilot’s potential to revolutionize the way defense units conduct training, devise strategies, and position themselves for future challenges. Blackman went on to emphasize that these capabilities could serve as a benchmark for various federal agencies seeking to enhance their operational efficiency. the U.S. Marine Corps witnessed a notable enhancement in their capabilities. This included improved visualization, real-time monitoring, simulation, and predictive analytics.
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🖼 Beanz Stickers Success Signals a Step Towards NFT Mass Adoption
Chiru Labs, the parent company to well-known brands like Azuki and Beanz, has clinched top rankings on the LINE messaging platform. Its Beanz sticker pack has quickly risen in popularity due to a collaboration with IPX, the company behind LINE FRIENDS characters. This partnership also plans to introduce retail offerings at LINE FRIENDS stores and a blend of immersive real-world events bridging both universes. Notably, the sticker is the first major rollout from this partnership. Beanz sticker pack’s achievement is its potential to usher in a new era where users, even those unfamiliar with NFTs, can engage with them. According to data from IPX, the Beanz sticker pack has claimed the top spot in South Korea’s “Creators” section on the LINE Sticker shop. Its charm extends to the U.S., where it is the leader in both the “Humorous” and “Food” categories. As the Beanz stickers continue to captivate LINE users, the platform promises more delightful stickers in times to come. In a way, this trend symbolizes the potential for digital assets like NFTs to become commonplace, seamlessly integrating into our daily digital interactions. Japan, home to a staggering 90 million monthly LINE users, also welcomed Beanz, ranking it second in the “Creators” section.
NFTs | OpenSea | News
🖼 Mastercard’s CBDC pilot ventures into Ethereum and NFTs
Mastercard in conjunction with the Reserve Bank of Australia and the Digital Finance Cooperative Research Centre, revealed Thursday the latest results of their CBDC pilot project. Notably, the pilot included a live transaction where an NFT was purchased on the Ethereum blockchain using a “wrapped” version of the CBDC, according to a statement. Jointly developed with financial services company Cuscal and blockchain platform Mintable as part of the bank and cooperative’s research project, the tech is designed to make CBDCs interoperable across various chains. The pilot, which places a real legal claim on the RBA, involved selected industry participants and demonstrated how a CBDC could provide payment and settlement services to Australian households and businesses. “Mastercard has seen demand from consumers to participate in commerce across multiple blockchains, including public blockchains,” Richard Warmold, the company’s Division President of Australasia said. “This technology not only has the potential to drive more consumer choice, but it also unlocks new opportunities for collaboration between the public and private networks to drive genuine impact in the digital currency space.” During the live test, Ethereum wallets of both the buyer and seller were ‘allow-listed,’ demonstrating the tech’s capacity to enforce controls on public blockchains.
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🖼 NBA's LaMelo and Lonzo Ball—And Their Dad—Star in NFT Game 'StrayShot'
Upcoming battle royale shooter game StrayShot has signed a deal with NBA players LaMelo and Lonzo Ball—as well as their family’s lifestyle brand, Big Baller Brand (BBB)—to include the brothers and the rest of their prominent family as playable NFT characters, developer iBloxx Studios announced Thursday. More details on the playable LaMelo Ball and Lonzo Ball NFT characters will be revealed after the free-to-play game fully launches, according to a statement. The PC game—previously called 0xBattleGround—is currently in public beta. iBloxx CEO Domenik Maier told Decrypt via email that StrayShot could be fully released as early as December this year, but will more likely launch in February 2024. The LaMelo and Lonzo character NFTs will wear military-style outfits as well as BBB-branded attire, according to Maier and images viewed by Decrypt. The studio also plans to release licensed Ball NFTs outside of the game, as well, according to the announcement. No release date has been revealed for any of the Ball NFTs. LaVar Ball, the players’ outspoken father and BBB founder and CEO, will also appear as a game character, alongside his wife Tina Ball and youngest son LiAngelo Ball, who plays in the NBA G League.
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🔫 Slowing hardware sales weigh on metaverse revenue in Q2 2023
Emerging metaverse platforms and technologies tracked by S&P Global Market Intelligence drove an estimated $4.21 billion in revenue in the second quarter, down 2.9% year over year, marking the fourth consecutive quarter of year-over-year contraction for the segment. The drop was primarily due to falling demand for the market's current lineup of virtual reality hardware, but new devices on the horizon offer an opportunity for a return to growth later this year. S&P Global defines the metaverse as the long-term vision for the next phase of the internet, which will feature a single, shared, immersive and persistent 3D virtual space where humans and machines interact with one another and with data, enhancing the physical world as much as replacing it. Revenue from metaverse hardware, which is largely composed of augmented and virtual reality headsets, declined 34.8% year over year to $0.79 billion. Metaverse hardware has not yet been able to cultivate much in the way of long-term organic demand. Instead, the segment relies on tech enthusiasts to drive a surge of sales at the launch of a new or upgraded device. Then, that new device limps along for a year or two with moderate interest from gamers and commercial clients. When it becomes clear that new headsets are imminent, sales all but evaporate.
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🔫 Northlands College launches metaverse campus
Northlands College has launched the metaverse campus, making it one of the few colleges in Canada to establish a full campus presence in the metaverse. This type of metaverse campus environment is meant to build community, open geographic borders, collapse time such as the option to attend recorded virtual lectures that enable learners from different time zones or those who are working to follow experiential and in-person lectures on their own time. According to a media release issued this week, the achievement ushers in a new era of transformational learning tools designed to push the boundaries of education and integration of technology across northern Saskatchewan, as well as reduce the environmental footprint. “The launch of our campus in the metaverse is not just a milestone for Northlands College, but also offers opportunities for members of our communities across northern Saskatchewan to learn, grow, and excel in an area of Industry 4.0,” Northlands College President & CEO Karsten Henriksen said. “These initiatives represent our unwavering commitment to providing educators and learners with the resources, support, and innovative platforms needed to thrive in an ever-evolving Digital North landscape.
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🖼 Clubs promoting NFTs pose 'risk' to fans, MPs warn
Sports clubs that issue cryptocurrency fan tokens risk damaging their reputations, a group of MPs has warned. The rise of non-fungible tokens (NFTs) and similar assets in sports and the arts are a concern to the Culture, Media and Sport committee. New Financial Conduct Authority (FCA) rules around crypto investments mean firms must now display a warning. The message tells people not to invest "unless you're prepared to lose all the money you invest". The BBC has approached the government for a response. NFTs are "one-of-a-kind" assets in the digital world that can be bought and sold, but which have no tangible form of their own. The digital fan tokens can be thought of as certificates of ownership for virtual or physical assets. Owning them can give fans access to certain perks, such as being able to vote in fan polls or getting access to ticket ballots. NFTs enjoyed a period of considerable popularity - and soaring prices - during and after the pandemic, with people and businesses encouraged to create them, but MPs say their fluctuating prices are troubling. "Clubs are promoting volatile crypto-asset schemes to extract additional money from loyal supporters, often with promises of privileges and perks that fails to materialise," said Dame Caroline Dinenage, chair of the CMS committee.
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🖼 MoMA adds 1st NFT art 'Unsupervised' by Refik Anadol to its permanent collection
The Museum of Modern Art (MoMA), one of the world's most prestigious art museums, has recently welcomed a groundbreaking addition to its permanent collection, "Unsupervised" as Refik Anadol's digital artwork. Tech entrepreneur Ryan Zurrer, a prominent digital art collector, donated a valuable piece to the museum, along with a companion NFT. This generous contribution came through his 1OF1 Collection, in collaboration with the RFC Collection, headed by Pablo Rodriguez-Fraile and Desiree Casoni. "Unsupervised" was unveiled to the public at MoMA toward the end of 2022 and will be on display until Oct. 29. The artwork is part of Refik Anadol Studio's ongoing "Machine Hallucinations" project exploring a collective aesthetic based on visual memories. Since the project's initiation in 2016, Anadol and his team have been collecting data from digital archives and public sources, processing them with machine-learning classification models. For "Unsupervised," the team processed metadata from over 130,000 pieces in the museum's collection through a machine's cognition. MoMA's explanation of artwork reads: "What would a machine dream about after seeing the collection of The Museum of Modern Art? For 'Unsupervised,' artist Refik Anadol uses AI to interpret and transform over 200 years of art at MoMA.
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🖼 NFTs Can't Catch a Break as Protracted Drop in Sales Continues
Although the broader crypto market experienced some uplift, NFT sales didn’t mirror this positive trend. Week after week for the past seven weeks, NFT sales volumes have been plunging. Despite this week’s sales being 11.65% lower than the previous week, there’s a silver lining: the count of NFT purchasers surged by 17.77%, while the tally of sellers jumped by 15.82%. Data sourced from cryptoslam.io reveals that NFT sales on the Ethereum platform took the lion’s share, accounting for $38.10 million of the week’s turnover. This indicates that 57.63% of all NFTs sold over the week were Ethereum-based. However, sales of ETH-based NFTs dipped slightly by 0.84% this week. In the rankings, Mythos NFT transactions clinched second place, amassing $8.79 million — an uptick of 12.29% from last week. Solana rounded out the top three, recording sales of $6.86 million, a rise of 8.87% for the week. Topping this week’s NFT sales charts, the Mythos-linked Dmarket collection clinched $8.72 million, marking a 12.32% increase. Hot on its heels was Bored Ape Yacht Club (BAYC) with $4.13 million, rising by 25.18%. Meanwhile, Polygon’s Draftkings took the third spot, raking in $3.28 million, though it faced a dip of 18.24%. Sorare followed closely, garnering $2.87 million — a 3.87% upswing.
NFTs | OpenSea | News
📊 Weekly NFT Sales Dip by 1.18% Despite Rising Buyers and Transactions
Based on the most recent week-long data, non-fungible token (NFT) sales experienced a slight decline of 1.18% from the previous week. Despite a recorded $107.05 million in NFT sales, there was a noteworthy rise of 86.71% in the number of buyers. Additionally, NFT transactions increased by a significant 34.66%. This week, NFT sales showed a minor dip, declining by 1.18% compared to the previous week. Out of the $107.05 million in NFT transactions, a significant 61% or $65.86 million originated from the Ethereum blockchain. Furthermore, sales of ETH-based NFTs climbed by 7.41% from the prior week. Solana trailed behind Ethereum, boasting sales of around $9.64 million, marking a 4.8% uptick. Together, these eight blockchains constituted a commanding 96.49% of this week’s total NFT sales. The past week’s top-performing NFT collection was Degods, amassing $6.59 million. Hot on its heels was Dmarket, tallying about $6.25 million, while Bored Ape Yacht Club (BAYC) clinched the third spot with sales hitting $5.43 million. After Solana in the NFT sales race came Polygon, posting sales of $8.41 million. Mythos followed closely with $6.30 million, trailed by Immutable X at $4.55 million, BNB Chain’s $4.46 million, Bitcoin’s $2.62 million, and Flow registering $1.46 million.
NFTs | OpenSea | News
💰 Polygon MATIC’s Hottest NFT Crypto Games on IQ Protocol
IQ Protocol is active in this space. In case you missed it, here’s a link to our last video about IQ Protocol. Come to think of it, renting NFTs and gaming makes perfect sense. You rent out an NFT for the duration of the game. Once the gamer stops playing, they give back the NFT. You can unlock new revenue streams for your dormant digital assets. They had a big partnership with The Red Village that successfully proved that the NFT rentals concept works and is in demand. IQ recently completed the Red Village ‘New Blood’ competition. At the same time, this was also a case study. The results are very positive. It proves that the NFT rentals concept is working. During the duration of New Blood, there were other milestones. There were around 180-200 DAUs (daily active users). No less than 25 factions competed for the main price of $10,000. Squad Faction 4 won the $10,000 cash prize. There was large social media growth. Twitter welcomed 2,500 new followers. On Discord, there were around 600 followers. Next up is the integration of Crypto Guilds. The concept is like what they did with The Red Village. This will start around now, 17th August. Crypto Guilds introduces a new NFT collection that also has new utility for renters.
NFTs | OpenSea | News
🖼 Nickelodeon NFT Creator Recur Shutters Its Platform – Accused Of Hard Rug Pull
Recur, the digital asset incubation studio and the team behind non-fungible token collections such as Hello Kitty and Nickelodeon, has announced shuttering its trading platform. In this article, we shall look at the future of Nickelodeon and other NFTs now that the digital asset firm has locked its platform. In an August 18 blog post, the web3 platform Recur confirmed shuttering down its NFT market platform, describing its bearish move as a tough decision. The Nickelodeon and Hello Kitty NFT creator has set a final closer date on November 16, 2023. Established in 2021, Recur is a Web3 platform known for assisting major enterprises in launching innovative, multi-chain digital collectible experiences. The digital asset firm has launched some of the most popular NFT projects, including Rugrats, Hello Kitty, Star Trek, Hey Arnold, and Nickelodeon NFTs. In the meantime, Recur has halted all cross trading among different blockchains. The web3 firm has announced to have removed all NFT metadata and media to Filecoin’s decentralized storage network before the end of November this year. This decentralized storage protocol will ensure NFT metadata remains accessible on the platform. Crypto investors have until mid-November to offload their outstanding balances using the USDT feature on portal.recur.com.
NFTs | OpenSea | News
🖼 Adidas and Bape Launch NFT-Powered Sneaker Auction
Adidas, a leading sportswear brand, has taken a bold step in rewriting the rules of fashion by introducing a new non-fungible token (NFT) powered auction format. In collaboration with Japanese streetwear label Bape, Adidas will be launching the “Forum 84 Bape Low Triple-White” sneaker through this innovative auction format. The auction will be open to everyone through Adidas Connect until August 25. Winners of the auction will receive an “Adidas Originals x Bape Fresh Forum Access Pass NFT”. Lululemon, a popular athleisure brand, has partnered with virtual retail platform Emperia to tap into the trend of three-dimensional virtual stores. In celebration of its new sneaker release, Lululemon has created an immersive virtual shopping experience where customers can engage in virtual try-ons (VTO) and interactive workouts. This interactive approach allows customers to have a more engaging and personalized shopping experience. This move by Adidas is being hailed as a game-changer in the streetwear industry. The brand’s embrace of NFTs and digital assets has garnered praise from NFT proponents as it explores new use cases for these digital assets. Adidas may have found a way to achieve mass adoption for digital assets, a feat that has been challenging for other brands.
NFTs | OpenSea | News
🖼 OpenSea Ends BNB Chain Support, Shifts NFT Creator Royalties
Opensea has made several changes to its policy this week. Going forward, the platform will no longer support NFT transactions on BNB Chain and won’t enforce royalty payments on secondary sales. The latest announcements have divided the NFT community as creators and collectors respond to the news. In a statement on Friday, Aug. 18, OpenSea said that it would no longer facilitate NFT trades on BNB Chain. However, users will still be able to view, explore and transfer BNB NFTs on the platform. Other L2 networks supported by OpenSea include Arbitrum, Optimism, and Polygon. NFTs minted on Avalanche, Klaytn, and Solana can also be traded on the platform. However, despite the firm’s renewed commitment to the multichain approach, users on X (formerly Twitter) pointed out that support for Tezos never materialized. Although the company promised to integrate Tezos-based NFTs onto the platform back in February 2021, users are still waiting. The decision to cease support for BNB-based NFT trading isn’t the only announcement that has divided OpenSea users this week. Creators generate income each time their NFT is sold on the secondary market. This was under the old system, which had been in place since November 2022.
NFTs | OpenSea | News