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💰 Shiba Inu Admin Denounces Affiliation to NFT Projects
Shiba Inu community member and Telegram group admin and community manager Ragnar Shib took to X to denounce any forms of affiliation to some NFT projects publicized in his name. Ragnar felt the need to caution the community as the proliferation of projects on Shibarium might see some fraudulent ones make their emergence as well. The developer tasked SHIB community members to do their research and understand he maintains no affiliation with some of these projects. Ragnar’s disclosure aligns with the commitment of the Shiba Inu team members to guide the community on how to navigate its fast-growing ecosystem. According to Ragnar, everyone is welcome to build applications on Shibarium, keeping with its key design as an open ecosystem. With the ecosystem growing as envisaged, the Shib team has doubled down its effort to sensitize its community from hackers to cases where users need to beware of bug-related issues on Shibarium-affiliated platforms. As reported earlier by The Crypto Basic, Shiba Inu’s lead developer, Shytoshi Kusama also sounds alarm on fake tokens making the rounds in the ecosystem. In one of these instances, Kusama warned users not to purchase BONE and LEASH on PuppyNet, Shibarium’s testnet before it launched on the mainnet months later.
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🖼 Yuga Labs' win in Bored Apes NFT counterfeiting case upheld by US appeals court
U.S. appeals court has affirmed a ruling denying artist Ryder Ripps' bid to dismiss California state-law claims brought by Bored Ape Yacht Club non-fungible token maker Yuga Labs over his alleged counterfeiting of its NFTs. The 9th U.S. Circuit Court of Appeals said on Monday that Ripps and his business partner Jeremy Cahen were not protected from Yuga's allegations by a California law protecting free speech. Last week a federal judge in Los Angeles determined that Ripps and Cahen owe Yuga more than $1.5 million in damages. Yuga accused Ripps and Cahen in a lawsuit last year of making millions of dollars from counterfeiting its Bored Ape tokens under the guise of an art project. Ripps has described his copies as 1st Amendment-protected works of appropriation art that lampoon supposedly racist and antisemitic imagery in Yuga's NFTs and branding. U.S. District Judge John Walter said last week that Ripps and Cahen must pay Yuga all of their profits from the copies after finding in April that they were "no more artistic than the sale of a counterfeit handbag" and likely to confuse consumers. The 9th Circuit appeal concerned Walter's ruling last year denying Ripps' and Cahen's request to dismiss Yuga's state-law claims under California's anti-SLAPP statute, which protects conduct "in furtherance of" free speech from frivolous lawsuits.
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🖼 Atari Revives Retro Members Only Jackets for NFT Collectors
The Atari club is coming back—with Members Only jackets in tow. Retro game publisher Atari is launching new versions of its Atari Club member jackets inspired by the 1980s originals. The navy blue zip-up jackets will go on sale Thursday until December 1 and will only be available to holders of Atari’s ARC NFTs, according to the announcement. It’s an official collaboration with the Members Only fashion brand that was popular in the 1980s, much like Atari itself. Compared to the original jackets, the new versions will be of a thicker material, and the Atari logo is no longer a removable patch but is instead embroidered onto the coats. It’s an official collaboration with the Members Only fashion brand that was popular in the 1980s, much like Atari itself. While fans can buy plenty of merch without crypto, Atari’s website states that owners of the ARC NFT launched back in May will gain early access to merch, voting privileges, and discounts in addition to presale access to the new member jackets. The new jackets won’t be delivered to buyers until roughly February or March of 2024, but fans will be able to buy Atari patches from the publisher’s shop in the meantime and attach them to their jackets when they arrive.
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🇸🇦 Saudi Arabia to Invest $50 Million into Metaverse Firm Animoca
Saudi Arabia is set to invest a whopping $50 million into Metaverse firm Animoca, according to a new announcement. Indeed, the blockchain gaming company announced the alliance with Neom, the Saudi Arabian development project, in order to develop crypto technology in the region. The two sides had signed a memorandum of understanding to partner in the development of digital projects. Moreover, the collaboration will aid Neom’s 2030 vision and the establishment of its own ecosystem. The year has seen Saudi Arabia explore ways of diversifying its economy and growing its international presence. A key part of that has been its inclusion in the growing BRICS economic alliance. Moreover, it is now seeking to continue the developments within its borders. Now, Saudi Arabia has announced a $50 million investment into the metaverse and blockchain gaming firm, Animoca Brands. Indeed, the two sides announced a signed memorandum of understanding. Subsequently, Saudi Arabia’s Neom is seeking to work with the metaverse firm in the development of its own blockchain and crypto infrastructure.
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🖼 Mecca Foundation Unveils Smart NFTs, Transforming the Landscape of Digital Collectibles
Singapore-based Mecca Foundation LTD has announced a groundbreaking innovation with the introduction of Smart NFTs (Non-Fungible Tokens). These cutting-edge digital assets are poised to redefine the world of digital collectibles, offering new opportunities for both creators and collectors. This exchange will serve as the ultimate hub for Smart NFTs, enabling cross-domain interaction, trade, and collaborative learning. It not only offers increased engagement for Smart NFT holders but also fosters knowledge sharing and cooperation. Fueling this ecosystem is the MCA token, which plays a crucial role in unlocking the potential of Smart NFTs. MCA tokens enable Smart NFTs to undergo training, upgrades, and unlock additional features. They facilitate multimedia presentations, including videos, animations, and audio, as well as voice and automated responses, making Smart NFT interactions more dynamic and engaging. MCA tokens are set to become an indispensable tool for digital art creators and collectors, enhancing creativity and interactivity. Mecca Foundation LTD's innovation is poised to revolutionize the landscape of digital collectibles. By allowing for more comprehensive engagement with digital art and knowledge sharing across diverse fields, Smart NFTs will enhance the value and appeal of digital collectibles.
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🔫 Rarible and Metal Blockchain to Explore BSA-Compliant NFT Solutions for Banks and Fintechs
Metallicus, the core developer behind Metal Blockchain, and Rarible – a leading cross-chain NFT marketplace, jointly announced a strategic partnership to explore the development of compliant digital ownership solutions for the banking and fintech sectors. Metal Blockchain and Metallicus recently solidified strategic integrations with leading financial service entities to make progress on their commitment to reshape the financial sector. The partnership with Rarible will see both projects leverage their respective technical expertise to explore new applications of Non-Fungible Token (NFT) technology in mainstream financial products and consumer banking experiences. With the adoption of blockchain technology within the traditional finance sector still in its infancy – Rarible and Metal Blockchain will pool dedicated resources to conduct R&D on financial products such as tokenized rewards, globally compliant digital asset transfers, immutable and infinite on-chain documentation of financial records, and other customized alerts. "In working with Rarible, we recognize their deep expertise in the NFT arena.
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🖼 NFT casino game arrives in Georgia Market with Aviatrix
NFT casino game supplier Aviatrix has expanded its presence into the Georgian market. This expansion arrived after Aviatrix obtained certification to offer its crash game in Georgia, aligning with the company's goal of entering regulated markets worldwide. Anton Yarash, the COO at Aviatrix, expressed the company's dedication to entering regulated markets, stating: “Gaining certification in Georgia underlines Aviatrix’s commitment to entering regulated markets. "We are achieving this in less than a year since first launching, which shows just how quickly the game has gained popularity. We’re also excited to partner with Slotegrator to bring Aviatrix to operators in Georgia.” The Georgian market is emerging as a destination for online gaming companies, as demonstrated by other industry players like CT Interactive and 7777 Gaming, who have recently ventured into the region. As Aviatrix gains a foothold in Georgia, it is part of a broader trend of gaming companies capitalising on the potential of emerging markets surrounding crash-style games and NFT features. CT Interactive certified more than 190 games for the Georgian market.
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🖼 Meta-Builders Unveils Platform to Connect Web3 Developers with Businesses for NFT and Metaverse Integration
Meta-Builders, a prominent player in the Web3 development industry, has introduced a novel means for freelancers in this domain to establish connections with business owners keen on integrating NFTs and metaverse environments into their operations. This development serves as a boon for freelancers with expertise spanning a spectrum of Web3 applications, encompassing NFTs, smart contracts, and metaverse constructs. Despite the initial fervor surrounding metaverse projects appearing to have somewhat subsided, data from Metaversed suggests that there still exist a staggering 400 million active users worldwide. With more than 70% of Americans either contemplating or already immersed in this virtual realm, it is anticipated that by 2026, a quarter of Americans will devote a portion of their daily lives to the metaverse, according to research findings compiled by METAV.RS. venturing into the world of Web3 development necessitates a profound understanding of niche domains like blockchain programming and smart contract integrations.
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🔫 Animoca Brands Bolsters Metaverse Gaming Through Azarus Acquisition
Animoca Brands recently revealed their acquisition of Azarus, a pioneering Web3 streaming platform. The purchase of a majority stake in Azarus marks an effort to seamlessly integrate Azarus’ innovative blockchain-based game streaming technology into Animoca Brands’ extensive portfolio, thereby amplifying the streaming capabilities within the realm of Web3 games. While the financial details of this acquisition remain undisclosed, it signifies Animoca Brands’. Animoca Brands has a history of substantial investments in numerous Web3 game companies, and this latest endeavor aligns with their broader vision of harnessing Web3 technology to cultivate a player-owned economy. Their overarching goal is to empower creators, gamers, and streamers with the ability to exercise control over their digital property rights. By uniting Azarus’ proficiency in blockchain-driven game streaming with Animoca Brands’ extensive experience in digital game development and publishing, the collaboration aims to expedite a significant transformation in gaming culture, with Web3 at its core.
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🔫 WGIC releases report on the geospatial industry’s place in the metaverse
The term “metaverse” was first brought into the English lexicon over 30 years ago, with author Neal Stephenson introducing the word in his 1992 book Snow Crash. For a long while after that, the word was largely under-the-radar, thought of as theoretical when it did come up, but the last few years have seen a surge and subsequent crashing of public opinion about the idea. In the time since, we have seen about as strong a representation of the Gartner Hype Cycle as one can remember in recent times. A lot of the work being done in this area continues to be spearheaded by geospatial companies and those adjacent to the space, because as we’ve talked about before geospatial concepts are central to this idea of a metaverse. While the hype has died down since that article was published, it remains the case, and this point was recently hammered home once again with the release of a report by the WGIC entitled Bringing Geospatial Context to the Metaverse: Considerations for the Next Steps. The point of this report, as the title suggests, is to bring “geospatial context to the metaverse and provide specific considerations for the next steps towards expanding the value proposition of geospatial technology.”
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🔫 HTC VIVE expands metaverse applications to cover more targeted industries
HTC VIVE is expanding its virtual reality ecosystem to boost VR and Metaverse applications in business, covering tourism and education, the company said in Shanghai. It fits well with Shanghai's strategy to develop the metaverse industry with a targeted industry output of US$50 billion by 2025. In addition to VR headsets and devices, a VR and metaverse ecosystem makes sense. HTC VIVE is joining hands with Chinese firms like China Mobile and ZTE to co-develop the ecosystem, HTC VIVE said. The company is exploring business opportunities like remote collaboration, training, education, therapy and rehabilitation, design and marketing visualization, and exhibitions, industry officials said in Shanghai. The on-site demo covers tourism, gaming and education applications. Shanghai is the first city nationwide to draft a long-term blueprint for the development of metaverse applications, which connect the virtual and real worlds with advanced tech. It fits well with Shanghai's strategy to develop the metaverse industry with a targeted industry output of US$50 billion by 2025. The city announced previously to boost the metaverse industry with an expected output of 350 billion yuan (US$50 billion) in 2025.
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🖼 Parallel to Bolster Sci-Fi Gaming with 120 New NFT Cards
Parallel Studios is on the brink of expanding its Web3 gaming prowess with 120 additional sci-fi NFT trading cards dubbed ‘Planetfall’ through a presale of mysterious blind bundles on October 28 at 3 pm (EST). Gamers will shortly be faced with a trifecta of unique card bundles that introduce brand-new keys and rare collectible items in the Parallel game. The ‘Player Pack’, priced at around $32 (0.018 ETH), and ‘Collector’s Pack’, costing approximately $320 (0.18 ETH) (granting rarer cards than the former), both entail 10 cards each. The ‘Collector’s Crate’, however, is the one to watch out for, offering 10 Collector’s Packs, which amounts to a mighty 100 highly desirable cards alongside additional perks for roughly $2.848 (1.6 ETH). Even with being up for grabs tomorrow, it’s worth noting these highly anticipated dynamic NFTs won’t become critical components of the game until the first or second quarter of 2024. Nonetheless, a significant portion of these cards have been set aside for Manifest collectors and players, so it’s advised to act promptly to secure one. Once these intriguing NFT cards roll out, Parallel players can craft their very own card decks, selecting a powerful ‘Paragon’ main character to partake in head-to-head battles. The ultimate goal is to wipe out their opponent’s health pool with their most valuable virtual collectible.
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🔫 Multi-Metaverse Platform ZELIX Simultaneously Listed on Global Exchanges
The blockchain-based multi-metaverse platform ZELIX has been Sequentially listed on global exchanges, including HTX (Huobi), KuCoin, Gate.io, Mexc, and Poloniex. These listings showcase ZELIX's innovation in the multi-metaverse space and its leading use of blockchain technology. ZELIX is a rebranded project of what was previously known as the multi-metaverse platform ONSTON. ONSTON had successfully secured investments and strategic partnerships related to market-making from the global Web3 investment firm DWF-Labs and was listed on more than top 10 major exchanges. ZELIX emphasizes a new direction for the project, focusing on building a decentralized and distributed multi-metaverse platform. Their goal is to integrate the members of the metaverse community into a unified entity and expand into various environments. Additionally, ZELIX plans to establish new partnerships and enhance the project's value. ZELIX stated, "We are preparing for the future in the multi-metaverse space. Through this rebranding, we aim to take on a more innovative and dynamic role and work tirelessly to turn our vision into reality." This listing on global exchanges positions ZELIX to gain greater recognition and growth on the global stage, and we anticipate new innovations in the multi-metaverse industry as a result.
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🔫 Sony Pictures, Spyglass Media and MeetKai create Survive Thanksgiving horror metaverse
Spyglass Media Group and Sony Pictures have teamed up with AI and metaverse company MeetKai to create a horror metaverse experience for the upcoming horror film Thanksgiving. Survive Thanksgiving, developed on MeetKai’s metaverse platform, transports players into a nightmarish reality set in the peaceful town of Plymouth, Massachusetts. Through compatible VR headsets or any web browser on mobile or desktop devices, participants find themselves face-to-face. The immersive world of Survive Thanksgiving offers three realistic 3D avatars for players to embody as they attempt to escape the clutches of the town’s killer, John Carver. Exploring six iconic locations featured in the film from a first-person perspective, users can navigate the halls of Plymouth High School, interact with frightened inhabitants on Main Street, overcome challenges, and discover hidden easter eggs, unlocking new gamified player experiences. Moreover, the metaverse integration seamlessly incorporates eCommerce, allowing gamers to shop for exclusive film merchandise in a mini shop just outside the cemetery. These digital twin replicas provide realistic representations of the items, and purchases can be made through the seller’s official website.
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🖼 ATP Tour Releases Customizable Tennis Posters as NFTs
The ATP (Association of Tennis Professionals) has joined forces with the digital art platform Artchild to introduce “POSTERS,” a collection of limited-edition tennis posters that can be customized by fans. The collaboration is set to make its debut at the season-ending Nitto ATP Finals, taking place from Nov. 12 to 19, and will feature an official poster designed by acclaimed artist Honor Titus. Honor Titus, a visual artist hailing from Los Angeles, California, is not only known for his artistic prowess but also for his deep passion for tennis. “POSTERS” apart is the interactive element it offers to fans. Through the Artchild digital canvas and artist-curated color palettes, tennis enthusiasts will have the opportunity to customize and purchase their own versions of the Nitto ATP Finals Official Poster. Each customized poster will come to life as a physical print, carefully packaged and shipped to fans’ homes. In a nod to the digital age, every poster will also be accompanied by an NFT on the Polygon blockchain. A select number of these fan-customized posters will be prominently displayed at the Pala Alpitour arena. The official poster, in its original design by Honor Titus, along with its digital counterpart, will be exclusively available for purchase during the 2023 Nitto ATP Finals.
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🔫 Metaverse Spectrum Business Conference Announces First-Ever Pitch Fest in the Metaverse on December 7th, 2023
The Metaverse Spectrum, an online marketplace for metaverse solutions and Web 3.0 technologies, is proud to announce that its inaugural Pitch Fest in the Metaverse will take place virtually on December 7, 2023, at the second annual Metaverse Business Conference and Expo.This groundbreaking event will bring together esteemed investors from various sectors, including venture capital firms, investment banks, private investors, and angel investors, providing a unique opportunity for companies in the AI, VR, Web3, and augmented reality industries to pitch their businesses for funding. Among the notable investors attending the Pitch Fest are SC Ventures, Focus Investment Banking, Spouting Rock Asset Management, London Real Ventures, and Newbridge Securities Corporation, among others. These influential investors will be actively seeking groundbreaking ideas and innovative startups to support and nurture. Furthermore, the Metaverse Spectrum Business Conference has joined forces with fintech.tv, a renowned financial technology media platform, to offer participating companies an unparalleled opportunity for additional exposure. Through this partnership, companies will have the chance to showcase their ideas and business models to a global audience, increasing their visibility and attracting potential investors.
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🖼 Steve Aoki Launches Exclusive Digital Sneakers as NFTs on Stepn’s Move-to-Earn Platform
Steve Aoki and Stepn collaborate to release a limited series of NFT digital sneakers. Image by GulyaevStudio, Adobe Stock.In a recent collaboration that brings together the entertainment industry and cryptocurrency, electronic musician and NFT creator Steve Aoki has teamed up with the mobile move-to-earn game Stepn. The partnership seeks to launch a unique collection of digital sneakers as non-fungible tokens (NFTs) on the Solana blockchain. The collection aligns with Aoki’s existing NFT-based membership club, A0K1VERSE. The Steve Aoki x Stepn collection consists of 300 limited-edition digital sneakers in four distinct designs—Walker, Jogger, Runner, and Trainer. 240 of these will be sold via the MOOAR marketplace between October 31 and November 4 for 3,500 GMT (approximately $695). An additional 60 NFTs will be allocated to Aoki’s fan community, rounding off the collection at 300 NFT editions. The NFTs, when connected to mobile phones via the Stepn platform, allow users to earn crypto rewards based on their physical movements, such as walking or jogging. Created by Find Satoshi Lab, Stepn claims to have over 2 million active monthly users. “Collaborating with Stepn is an exciting step towards bringing the metaverse and real world closer together,” Steve Aoki said in a release.
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🔫 Everdome unveils Spaces metaverse-as-a-service platform
In a move that the Dubai-based metaverse project says will usher in a new era of metaverse accessibility, Everdome has launched the Spaces metaverse-as-a-service (MaaS) product line with the aim of making the metaverse more accessible for all. Spaces is designed to allow users without deep technical knowledge to quickly produce metaverse experiences that can last for days, weeks or even a matter of hours as a metaverse pop-up space. Citing the reasons for the launch, Everdome noted a report by McKinsey showing that almost 60% of consumers. Yet Everdome said the research also highlighted that the metaverse remains confusing for many business and consumer users, with greater barriers to entry and understanding than widely used web2 applications. Everdome said it was seeking to change this with its Spaces application, which it said would deliver easy-to-use, customisable and engaging metaverse pop-up spaces that can be created in a matter of minutes. This product release follows closely behind Everdome’s Mars Landing experience release, which represented the completion of its alpha layer-one of their immersive metaverse destination, taking users from a virtual Hatta Spaceport through to a digital imagining of a future Martian civilisation. Created as a standalone application from the Mars metaverse environment, Spaces aims to address the ongoing challenge of accessibility in metaverse development.
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🇬🇧 UK risks regulating NFTs the wrong way, says Mintable CEO
The United Kingdom’s government is in danger of regulating nonfungible tokens (NFTs) in a way that doesn’t suit the true nature of the nascent technology, says Mintable CEO and founder Zach Burks. In an interview with Cointelegraph, Burks said he believes a recent report from a U.K. parliamentary committee significantly exaggerates the role NFTs play in copyright infringement and fails to recognize that they are more than just volatile digital pictures. “NFTs are in a transition phase where they’re moving away from the speculative boom of PFPs, and now it’s going into utilities of brands implementing NFTs across a whole range of different things,” Burks explained. In the Oct. 11 report, the Culture, Media and Sport Committee urged the government to take action to protect artists and content creators from copyright infringement associated with NFTs. Burks acknowledged that copyright protections and intellectual property rights for artists are of paramount importance, pointing to Mintable’s own IP protection algorithm it uses to prevent plagiarism on its platform. However, he explained that while these issues should be a top priority for all NFT platforms.
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🔫 Nomura and Laser Digital Launch Metaverse Botanical Garden for Digital Innovation
Laser Digital Holdings has joined forces with Nomura Holdings to unveil the Nomura & Laser Digital Botanical Garden in The Sandbox metaverse. This immersive experience, which has been introduced as part of The Sandbox Fall Event, serves as a showcase for the combined expertise and resources of Nomura’s Digital Company and Laser Digital, with the primary aim of accelerating the bank’s advancements in the digital asset sector. The Nomura-Laser Digital Botanical Garden offers a serene setting in the form of a Japanese botanical garden. Visitors to this metaverse can embark on a journey through 20 quests, engaging with avatars representing senior executives from Nomura and Laser Digital. The quests include activities such as cultivating a personal bonsai tree, adding an enriching layer to the virtual experience. Throughout the garden, QR codes are strategically placed to provide visitors with in-depth information about Nomura, Laser Digital, and their strategic investments and innovations in the realm of digital assets. The Sandbox, a virtual world underpinned by NFTs on both the Ethereum and Polygon blockchains, has been in existence since 2011 and has accumulated over 4.7 million registered accounts since its inception.
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📣 Galgotias University Organizes Workshop On Metaverse
The Department of Mass Communication at Galgotias University hosted a workshop on the topic of Metaverse. Anshul Aggarwal, the founder of XR Central Company, along with his team member Mayank Singh, graced the event as esteemed chief guests. Anshul Aggarwal discussed the intricacies of Metaverse, talking about Virtual Reality, Augmented Reality, and Video Gaming. He further mentioned that it may take 5 to 10 years for this technology to become mainstream since it is difficult to comprehend. Metaverse is a virtual realm where humans reside and soon will have the ability to engage in activities as humans do. The metaverse will offer various forms of entertainment, we will be able to buy virtual properties etc. He illustrated this with an example where a student residing in a rural area can attend a college class in Delhi, simulating a typical classroom experience. Dr. K. Mallikharjuna Babu, Vice-Chancellor expressed his delight while addressing the students who were engaged in the creation of a virtual portfolio on metaqube.in. He commended both the students and the faculty for their efforts in organizing an innovative learning workshop on Metaverse.
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📉 Zuckerberg's Metaverse loses over $25 billion
Mark Zuckerberg's Metaverse has lost more than $25 billion since last summer. To cover the loss, Meta has fired about 21,000 employees. Optimism now relies on the Meta Quest 3 VR headset, which is cheaper than its previous versions, but already faces critique from VR enthusiasts on YouTube, the X-App and Reddit. Another positive aspect is the 3D Avatar technology, which Zuckerberg exhibits in a video set in virtual space to showcase the latest improvements. Last year, Meta gave away the pricier Quest Pro headset valued at $1,500 to all attendees at the Roblox RDC23 conference. Only time will tell whether the Quest 3 at $500 will be any better. VR fans on YouTube, Twitter (X) and Reddit have expressed dissatisfaction with the headphones' lacking audio capabilities, which Meta is expected to address. Recently, there have been noteworthy technological advances including the "first interview in the Metaverse" as referred to by podcaster Lex Fridman. The lifelike avatars are generated utilizing software incorporating 3D modelling, complete facial and full-body scans. In the clip below, Zuckerberg´s and Fridman's hyper-realistic 3D avatars are featured. They impress with their distinct facial expressions and spatial audio.
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🖼 Bored Ape Creator Awarded $1.4 Million From Knock-Off NFT Seller
Bored Ape Yacht Club non-fungible token maker Yuga Labs is entitled to more than $1.5 million in damages from a conceptual artist and his business partner who copied Bored Ape's NFT art, a California federal judge said in an order made public on Thursday. U.S. District Judge John Walter said that artist Ryder Ripps and partner Jeremy Cahen must pay Yuga all of their profits from their copies, which they have defended as an art project meant to criticize racist "dog whistles" in Yuga's works. Ripps and Cahen's attorney Louis Tompros of Wilmer Cutler Pickering Hale and Dorr said that they disagreed with parts of the decision and expect to appeal. Yuga accused Ripps and Cahen in a lawsuit last year of making millions of dollars from counterfeiting its Bored Ape tokens under the false pretense of satire. Ripps has described his copies as works of appropriation art that lampoon supposedly racist and anti-Semitic imagery in Yuga's NFTs and branding. Walter ruled for Yuga in April, finding that Ripps' NFTs were "no more artistic than the sale of a counterfeit handbag." Walter said Ripps' copies were likely to confuse potential buyers and held a trial this summer to determine the scope of Yuga's damages and other relief.
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🔫 6 Korean Metaverse Companies Participated in MWC Las Vegas, K-Metaverse Pavilion Supports Entry Into the US Market
Companies specializing in Metaverse and XR technologies, selected as outstanding firms by the National IT Promotion Agency (NIPA), a Korean government agency, received support for their participation in MWC Las Vegas 2023, the American leg of the Mobile World Congress, the world's largest mobile and communications expo, held over three days starting September 26 in Las Vegas, USA. The National IT Promotion Agency operated a Korean joint pavilion at MWC Las Vegas 2023 to generate substantive global interest in promising small and medium-sized. A total of six companies participated in the event: AIPARK, COCONUT SILO, FROM SEOUL, INVENTIS, MetaVu, and Studio W.BABA. They introduced Metaverse and XR products incorporating various technologies such as artificial intelligence through booths in the joint pavilion. Among them, three companies participated in an official MWC Las Vegas session, the Industry City Session, to present on the topic 'The Latest K-Metaverse Technologies and How They Will Transform the Future.' COCONUT SILO : Coconut Silo is a startup company that specializes in AI deep technology. Through a digital platform – COCOTRUCK, we formed an ultimate cargo transportation solution that connects cargo owners, logistics companies, and truck drivers in one place.
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🖼 Australia’s $145M exchange scandal, Bitget claims 4th, China lifts NFT ban: Asia Express
Changjiang Currency Exchange, a money transmitter business based in Australia, has beenbustedin a 230 million Aussie dollar ($145 million) money laundering scandal. On Oct. 26, a 300-strong police operation spanning Melbourne, Sydney, Brisbane, Adelaide and Perth arrested seven individuals — four Chinese citizens and three Australian nationals — after a 14-month investigation. Operating under the front of a legitimate currency exchange business, police say that Changjiang Currency Exchange helped launder dirty funds. In one single incident, a 37-year-old Chinese national was accused of using Changjiang’s services to launder AU$100 million ($63 million) worth of funds received from a multinational Ponzi scheme. The investigation began after law enforcement officials noticed irregular traffic at Changjiang kiosks across Australia during a time of strict COVID-19-related lockdowns. Police have since seized AU$21 million ($13.27 million) in cash and various luxury items believed to have been purchased using proceeds of crime. The investigation remains ongoing. Bitget claimed that its market share had risen to 9.43%, compared to negligible volume just two years ago. During Q3 2023, the exchange says it onboarded over 9,000 traders along with 85,000 followers or copy-traders, who together achieved a net trading profit of $6.7 million.
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🔫 Supporters of Palestine show solidarity by marching in the metaverse
Young supporters of the Palestinian cause who cannot show solidarity by taking part in demonstrations in person are instead protesting online using the metaverse gaming platform Roblox. However, the use of certain words and phrases by digital demonstrators has been banned by the platform. More than 348,000 people have visited (PALESTINE) Dataran Tanjung Mas, a virtual environment created by a Malaysian user, since it went live on Roblox on Oct. 14. Users worldwide can join groups of up to 200 at a time. Roblox had banned the use of terms such as “Free Palestine” and “genocide” from the platform, as a result of which users adopted the Palestinian flag as a symbol of protest and solidarity. “Blocking phrases like ‘Free Palestine’ is consistent with our community standards, where we do not allow political content, particularly with regards to ‘content related to real world border, territorial or jurisdictional relationships,’” a Roblox spokesperson told news website TechCrunch. Virtual worlds are becoming an increasingly popular way for people to stage demonstrations and protests. In January last year, for example, nonprofit organization Superflus organized a protest against consumerism and capitalism at Samsung’s virtual headquarters within the metaverse platform Decentraland.
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💰 SBI Holdings to Launch NFT Project on XRP Ledger for Upcoming Expo
SBI Holdings, a Japan-based financial service company, has announced plans to issue a non-fungible token (NFT) service on the XRP Ledger (XRPL). According to an announcement yesterday, the digital collectible named the “EXPO2025 Digital Wallet NFT (or Myakoon!)” will be jointly issued by the SBI VC Trade and SBINFT, a venture operating an NFT business. While SBINFT will issue the NFT, the digital collectible can be viewed on a dedicated website developed by SBI VC Trade. Notably, “Myakoon!” is part of a service SBI Holdings is planning to launch for the collection of NFTs from the upcoming Osaka-Kansai Expo. Per the announcement, the service will commence in May 2024 before the expo. Furthermore, SBI Holdings said it will make the NFT project available to the 28.2 million visitors at the expo. Also, the financial giant disclosed that the “Myakoon!” NFT cannot be transferred and resold. SBI Holdings emphasized that attendees of the expo can also receive bonus NFTs by completing missions announced before, during, and after the event. Commenting on the development, pro-XRP lawyer Bill Morgan described the initiative as interesting.
NFTs | OpenSea | News
🖼 September Marks the Worst Month in NFT History
The third quarter of 2023 has been challenging for the non-fungible tokens (NFTs) market, with sales hitting their lowest point since the last quarter of 2020. September alone recorded a dismal sales figure of around $300 million. This downturn is primarily attributed to a significant drop in average sales prices and floor prices of popular collections. The NFT market has been on a downward trajectory, particularly in September, which saw the worst sales figures since January 2021 The average sales price in September plummeted to $38.17, a stark contrast to its peak of $791.84 in August 2021. Collections like Azuki, BAYC, and MAYC have seen their floor prices decline by more than 25% quarter-over-quarter. The newest Binance Research quarterly report shows while the NFT market is struggling, Ethereum and Immutable X have managed to gain market share. Ethereum's share increased 6% in Q3, partly due to lower gas fees and a decrease in ETH prices. Immutable X, a Layer 2 solution built on top of Ethereum, also saw its market share rise from 4% to 8%. The platform hosts popular blockchain games like Gods Unchained, which led the sales count for the quarter.
NFTs | OpenSea | News