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🖼 The Crown auctions props to fund NFTS scholarships
The Crown producer, Left Bank, is to auction off props and costumes from the award winning show as it reaches its final series to fund a series of scholarships at The National Film and Television School. Bonhams has now announced the “once-in-a-lifetime auction” of close to 450 props, furniture, and costumes – including those inspired by Queen Elizabeth’s Coronation Robes and Diana’s ‘Revenge’ dress. The programme will support dozens of students to attend the National Film and Television School over the next 20 years. Exclusively benefitting UK students, the scholarships will go towards training a variety of behind the camera craft specialisations, from Editing and Composition to Directing and Production Design. NFTS alumni who have worked on The Crown include Composer Martin Phipps, Editor Úna Ní Dhonghaíle, Art Director Ian Crossland, VFX Supervisor Dillan Nicholls, Senior Compositor Saruta Puff Pisanwalerd and Sound Mixer Nina Rice among many others. A live sale of approximately 150 lots will take place on Wednesday 7 February 2024 at Bonhams in London.
NFTs | OpenSea | News
🖼 Vyvo Smart Chain Announces NFT Expansion for Apple Watch at Web Summit
Vyvo Smart Chain that rewards healthy lifestyle habits, announces a significant upgrade of its proprietary Data Non-Fungible Token (Data-NFT) to allow binding with Apple Watch through the Apple HealthKit. This update enables Apple Watch devices to actively participate in Data Mining and earn $VSC using a Data-NFT. VSC unveiled this expansion during its participation in Web Summit’s Growth Startup Program in Lisbon. Data Mining on the Vyvo Smart Chain leverages health data gathered from IoT wearable technology, which is generated by the user’s biometrics collected by sensors. VSC empowers Data Owners with decentralization, granting them control over data ownership, privacy, and the ability to monetize their health data. This strategic move positions VSC at the forefront of HealthFi. Fabio Galdi, Co-Founder and CEO of VSC, noted this about the upgrade and expansion of VSC’s Data-NFTs capabilities stating, “Our mission has always been to use blockchain to expand what is possible with technology. With this technical upgrade to our proprietary Data-NFT, we advance our ecosystem to an entirely new user base.”
NFTs | OpenSea | News
🖼 NFT Trading Volume Hits 4-Month High
In September, mainstream media outlets proclaimed NFTs to be worthless. Non-fungible tokens have surged ever since, with trading volumes hitting a four-month high on Nov. 10. Most popular collections have posted double-digit percentage gains over the past month, with Cryptopunks seeing an influx of buyers after Yuga Labs co-founder Wylie Aronow shelled out $1.1M for a rare punk. The NFT community appears to have taken matters into their own hands after a recently aired episode of The Simpsons took aim at NFTs. While the bounce comes as a welcome relief for NFT holders, it’s worth noting that a lot of the increased activity is driven by airdrop farmers rather than an influx of new buyers. Blur, the leading NFT marketplace by volume, has been running an airdrop campaign slated to end on November 20, with BLUR tokens distributed to active traders and lenders. BLUR has more than doubled in price over the past month, leading many airdrop farmers who had stopped participating in the program to return. This is evidenced by a spike in daily users of Blur, while OpenSea users have remained relatively steady.
NFTs | OpenSea | News
🖼 Steve Aoki Amplifies New Album with NFT Trading Cards
The iconic DJ Steve Aoki is making waves with his eighth studio album ‘HiROQUEST 2: Double Helix’, officially dropping today. Additionally, an intriguing “collectors’ bundle” will be up for grabs on the NFT platform Kolex starting November 21. Transcending the conventional album format via a range of innovative quests, fans can anticipate delving into the Kolex ecosystem to tune into exclusive Aoki tracks and collect 12 special-edition digital trading cards (four of which are ultra rare), an entertaining graphic novel, and official merchandise through non-fungible assets. Steve Aoki has crafted a variety of quests to build hype surrounding the album. The initial HiROQUEST journey first kickstarted at ‘ Collect-A-Con’ in Houston, Texas, on November 4. Event attendees were invited to immerse themselves in all things HiROQUEST, collecting virtual promotional cards (NFTs), admiring Aoki’s live performance, and meeting the musical talent himself. The excitement surrounding the album doesn’t end there. It continues to build at 1201 S Santa Fe Ave, Los Angeles, at the “official album release party” on November 19.
NFTs | OpenSea | News
🔫 ZTX Unveils Global Metaverse Gaming Competition, Offering $ZTX Rewards
ZTX, a pioneering Web3 virtual world and creator platform, has initiated a strategic global partnership to launch an innovative competition. This initiative allows speculators to engage in metaverse gaming predictions for the opportunity to win $ZTX rewards. The campaign, organized by ZGM, a global metaverse influencer management and content creation company, is set to debut during the Yield Guild Games Web3 Games Summit in Manila. Participants in the competition have the opportunity to speculate on the outcomes of metaverse games by holding certain amounts of $ZTX tokens in their wallets. The betting process is facilitated through the ZTX Discord server, and there is no direct payment or fee required for participation. Successful players stand a chance to win portions of a prize pool exceeding $20,000 USD worth of $ZTX tokens at current trading prices. Alexx, the Creative Direction and Innovation Leader at ZTX, expressed excitement about offering a novel way for token holders to utilize their tokens for enhanced experiences and entertainment value.
NFTs | OpenSea | News
🪙 Decentraland (MANA) Hosts Immersive Musical Metaverse Experience
Decentraland, the leading virtual social world, is hosting its most ambitious music festival from November 16-18. Named Decentraland Music Festival ‘23 (#DCLMF23), the event promises three days of groundbreaking musical performances, games, and experiences accessible to everyone globally. Boasting five stages designed by award-winning virtual creators, the festival features over 80 diverse acts. Headliners include digital music pioneers like Cora Novoa, Trick Daddy, GuccieToe, Bufalo, Glitch Rave, and Steve Sai. Beyond the performances, #DCLMF23 offers numerous interactive experiences fusing music, gaming, and virtual worlds. Attendees can jam with friends in an interactive music river. They can also build a collaborative pixel art tower that gets displayed as a festival landmark. One medieval village quest tasks users with restoring stolen music by battling a boss. Neo-Techno Paganist raves send explorers on virtual wearable quests. Synthetic human DJs are set to perform, offering a glimpse into the music industry’s hi-tech future.
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🖼 Bazooka Tango Raises $5 Million to Revive 'Shardbound' as NFT Game
Bazooka Tango, a studio formed by former developers of the fantasy MOBA game Vainglory, has secured $5 million in a new round of funding led by Bitkraft Ventures, the game studio announced Thursday. RW3 Ventures, Sfermion, and 1Up Ventures also participated in the round. Bazooka Tango plans to use the fresh funding to expand its team and further development on its upcoming title, Shardbound, which has committed to launch on the upcoming Immutable zkEVM network. “Amid an incredibly challenging year for VC funding, it speaks volumes to the quality of our games,” said Bazooka Tango CEO Bo Daly in a statement in response to the funding news. “We are focused on expanding our team in critical disciplines essential for launching and growing the Shardbound universe,” Daly added. Shardbound is a mix of an NFT trading card game and a turn-based player-versus-player RPG, where players must place characters strategically onto a tiled board. But the game was very much incomplete when Bazooka Tango took it over from its indie developers at Spiritwalk Games, who had left many art assets unfinished.
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❕ Shemaroo Entertainment collaborates with The Sandbox
According to an official release, Shemaroo Entertainment Limited, a media and entertainment conglomerate, announced its collaboration with The Sandbox, a decentralised gaming virtual world and a subsidiary of Animoca Brands, set within BharatBox, a cultural metaverse hub in The Sandbox featuring artists and brands from India’s entertainment industry. The Sandbox is a testament to Shemaroo’s plan to bring innovation and embrace the future of entertainment. Shemaroo’s foray into digital collectibles and non-fungible tokens (NFTs) is expected to have secured its presence in the metaverse. Together with BharatBox, this venture plans to reinvent entertainment, infusing Bollywood IPs such as Jab We Met, The Great Gambler, Disco Dancer, Khuda Gawah, Blue and 22 Yards, among others, offering fans a virtual engagement. Furthermore, “This partnership is not just about bringing Bollywood to the metaverse but celebrating the cinematic history of India in a space that can redefine the future,” .Shemaroo’s foray into digital collectibles and non-fungible tokens (NFTs) is expected to have secured its presence in the metaverse.
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🔫 Global Mofy Metaverse Limited Accredited for iQIYI’s Leap Project
Global Mofy Metaverse Limited (the "Company" or “Global Mofy Metaverse”) (NASDAQ: GMM), a technology solutions provider engaged in virtual content production, digital marketing, and digital assets development for the metaverse industry, today announced the Company has been accredited for the so-called “Leap Project” of iQIYI INC (“iQIYI”), a leading provider of online entertainment video services in China. Global Mofy Metaverse has been officially selected to join a strategic collaboration with iQIYI through a two-year partnership agreement (the “Agreement”), which establishes the Company as an accredited visual effects supplier within IQIYI's ecosystem, specifically focusing on delivering virtual technology services. The Company expects to sign a formal collaboration agreement with iQIYI early next month. The terms of the Agreement have been settled. Pursuant to the Agreement under negotiation, Global Mofy Metaverse will play a pivotal role in iQIYI's future film and television projects. The collaboration with iQIYI, which is renowned for its high-quality content offerings, presents a significant opportunity for Global Mofy Metaverse to showcase its expertise and expand its market presence.
NFTs | OpenSea | News
🖼 Game distributor G2A opens gaming-focused NFT marketplace
Digital game vendor G2A has recently launched a marketplace for nonfungible tokens (NFTs) linked to Web3 games to expand its offerings by adding gaming NFTs to its wider collection of gaming software. According to a press release sent to Cointelegraph, the new venture launched on Nov. 15 is aimed at giving exposure to Web3 and NFT games that the G2A team has curated. With this, gamers will have the chance to see what blockchain gaming offers and be shown NFTs from games partnered with G2A. Bartosz Skwarczek, the CEO of the G2A Capital Group, said in a statement that the company has been following the development of the blockchain gaming sector since the advent of NFT gaming project Cryptokitties. As it watched, it discovered that gamers already engage with the sector despite some believing gamers hate crypto. Because of this, the game vendor launched G2A Geekverse to provide an online space for fans of Web3 games. Skwarczek added that within this space, gamers will “find information about the best Web3 games” and “have the opportunity to buy and sell digital assets associated with these games.”. Traditional gaming distributors have been warming up to Web3 gaming since 2023.
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🖼 OpenSea NFT users report massive email phishing campaign
Users of the major nonfungible token (NFT) marketplace OpenSea have said they are being targeted with a new email phishing attack and have received emails containing malicious links from attackers posing as the marketplace. According to social media reports, OpenSea users and developers have been targeted by various email phishing campaigns, including a fake developer account risk alert and a fake NFT offer. One OpenSea developer took to X (formerly Twitter) on Nov. 13 to report receiving a phishing attempt at an email strictly dedicated to their OpenSea Application Programming Interface (API) key. “In other words, dev contacts have been exfiltrated from OpenSea and are the real target in this campaign,” the post read. The social media report came in response to OpenSea’s insistence that the platform has not been hacked and urging users not to click on links they don’t trust. Another OpenSea user took to Reddit to express confusion about the ongoing phishing campaign on Nov. 14.
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🔫 EverQuest, Call of Duty Vets Unveil Metaverse Game Avalon
Avalon is coming. On Tuesday, online gaming startup Avalon unveiled the first trailer for its upcoming metaverse game of the same name, offering the first substantial glimpse of the experience. It’s led by an array of game industry veterans—and it’ll use both blockchain tech and AI tools. Launched in 2022, Avalon boasts a team of industry leaders who have worked on landmark games like EverQuest, Call of Duty, Diablo, Assassin’s Creed, Elden Ring, and World of Warcraft. In February, Avalon announced a $13 million raise led by Bitkraft Ventures. According to Jeffrey Butler, Avalon’s chief product officer and former EverQuest creative director, the fantasy game spawned from an attempt to create accessible new tools for other teams. “Initially, we were building a product that would allow developers like ourselves to create games and create them rapidly—not in new ways, but without the need for any sort of developer-level understanding of how to build games, where we would provide templates and Lego-style modular pieces that we assembled,” he explained. Avalon collaborated with Didimo and Inworld AI to create its virtual universe. The team utilized Didimo's Popul8 platform for character creation and Inworld AI's advanced AI-driven character engine to design characters and non-player characters (NPCs).
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📣 ELF Launches First Experience on Roblox
ELF Up! takes users on a dynamic, personalized journey to become successful entrepreneurs and cultural changemakers. In ELF Up!, users create dream startups that represent places and causes they care most about. The highly personalized experience fosters an advanced level of self-expression while building life skills like gamified financial literacy and raising social awareness that users will continue to flex each time they return to ELF Up. “Our community has been asking for us to be on Roblox,” said Kory Marchisotto, chief marketing officer, ELF Beauty. “It’s part of our journey to disrupt norms, shape culture and connect communities through positivity, inclusivity and accessibility. We did it first on TikTok with ELF Yeah, then on Twitch with ELF You and ELF Up! on Roblox will be no different. This time we are able to create an experience where our community can follow their entrepreneurial dreams and empower the next generation of changemakers who flourish in these digital economies.” World Economic Forum's 2023 Future of Jobs Report insight, which states that "creative, analytical thinking and coding are the key skill sets for today’s workplace".
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🖼 Disney Reveals NFT Platform With Dapper Labs, Including Star Wars and Pixar
Entertainment giant Disney will launch an NFT collectibles platform with NBA Top Shot maker Dapper Labs called Disney Pinnacle, the companies announced Tuesday. Inspired by the physical pins that Disney sells at its theme parks and that fans collect and trade, Disney Pinnacle will offer pin-inspired digital collectibles that are minted as NFTs on the Flow blockchain—the same network as NBA Top Shot and NFL All Day. The platform will include digital pins based on Disney, Pixar, and Star Wars characters and properties. In an interview with Decrypt, Dapper Labs CEO Roham Gharegozlou mentioned such characters as Buzz Lightyear and Woody from “Toy Story,” the Disney Princesses, and Darth Vader from “Star Wars” as some that will be in the mix. While Disney also owns Marvel, the comic book IP wasn't mentioned in the announcement. Asked if Marvel is coming to the platform, Gharegozlou said, “not at launch.” Disney Pinnacle was designed from the ground up for mobile, unlike Top Shot, which launched first on the web and later added a native mobile app.
NFTs | OpenSea | News
🔫 Dear Blink, Blackpink Ready to Shake Metaverse Through Roblox
Previously reported, Girlband from South Korea, Blackpink is ready to attend Roblox. YG Entertainment's besutan group made history this year as the first K-pop group to become Coachella headlines, and now heads to metaverse through Roblox by launching 'Blackpink the Palace'. Harvesting the DeCrypt page on Tuesday (8/22/2023), this experience will give Blink, a designation for Blackpink fans an interactive space to enjoy Blackpink music and gather to re-create their famous choreography. Fans can also take photos with the avatars of the members, including Jennie, Lisa, Jisoo, and Rosé, and buy a series of clothes and emojis specifically for their own avatars. Users will also be able to enhance their experience items by destroying crystals using 'lightsticks', lighted trinkets that are shaped like hammers. Blackpink The Palace will be updated with new content throughout the year with a series of challenges that will give Robux players, the currency in the Roblox game. The Blackpink-themed Roblox world will be launched August 25, and has been developed by the British studio Karta. Every fan who visits the game within the first 24 hours after release will receive a unique badge for their Roblox profile.
NFTs | OpenSea | News
🔫 6,600 working professionals get BITS Pilani degrees in Metaverse
Over 6,600 working professionals received their degrees in 26 different programmes from BITS Pilani in a Convocation organised in the Metaverse on Sunday, while another 900 students received their degrees in person. While 5,183 students received their MTech degrees, 1,641 students received their MBA degrees, 70 students earned their BTech degrees, and another 70 students obtained their MSc degrees. The Convocation was exclusively organised by the Work Integrated Learning Programmes (WILP) division of Birla Institute of Technology & Science (BITS) Pilani. “This was arguably the first convocation in India that was organised for working professionals at such a large scale, especially by a leading higher education institute in science, engineering, and management domains,” a spokesperson of the institute said. About 900 working professionals participated in the convocation organised at the BITS’ Hyderabad campus and received their degrees in person. “For over 43 years now, more than 1.14 lakh working professionals have benefited from the institute’s work-integrated learning programmes”, he said.
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🖼 Tezos Philippines Announces 3rd Annual Christmas-Themed Digital Art NFT Contest
Tezmas 2023 Announcement: Tezos Philippines, in collaboration with TZ APAC, proudly presents the 3rd edition of the Pinoy Christmas-themed NFT contest. This global event invites artists to create NFTs that celebrate the Filipino Christmas spirit. Distinguished Panel of Judges: Featuring an esteemed jury with Sheree Gotuaco of Scarletbox, Ombeline Rosset (Cabline) of OBJKT, Natasha Lau of TZ APAC, Kimi Delgado from Galeria Paloma, Henry Banayat of Bitshares Labs, and artist Jopet Arias of CryptoArtPH. Tezos Philippines, proudly supported by TZ APAC, a Web3 ecosystem builder empowering founders, creators, developers and institution leaders to thrive, is thrilled to announce the third edition of Tezmas, a digital art NFT minting contest. Celebrating the unique spirit of Filipino Christmas, this year’s contest invites global artists to craft NFTs that embrace the festive essence of the Philippine Christmas season. The prize pool boasts a total of USD 2900 worth of a combination USD and tez, a form of digital currency, with submissions opening from November 6 to December 11, 2023. Tezos Philippines aims to curate a minimum of 80 entries that will resonate with seasoned artists in the Tezos ecosystem and serve as a platform for budding talents in the NFT realm.
NFTs | OpenSea | News
💰 ORDI price nears record high and NFT sales of Bitcoin Ordinals increase
The significant increase in the price of the ORDI token and the corresponding increase in NFT sales of Bitcoin Ordinals reflect a rapidly changing market dynamic. Currently, the price of the ORDI token is approaching its all-time high, touching $28.37, an impressive 845% increase from its lowest point this year. The cryptocurrency ecosystem is currently in the maelstrom of a significant transformation, with the ORDI token emerging as a fast-rising player. A surge of 845% over the year, a trading volume of more than $20 million, and the rise of NFT sales of Bitcoin Ordinals outline a dynamic landscape, drawing investors’ attention to this expanding cryptocurrency. The remarkable volume of Bitcoin Ordinals, which has exceeded $20 million, highlights a growing demand for this cryptocurrency. In the context of NFTs, Bitcoin Ordinals emerge as relevant players, with volume even exceeding that of Ethereum, reaching over $11 million in the last 24 hours. Analyzing the landscape further, total futures open interest for ORDI tokens reached a record high of $124 million in the past 24 hours.
NFTs | OpenSea | News
🖼 Van Gogh NFTs sell for millions as tokens moon again
Data from on-chain aggregator CryptoSlam.io shows that a non-fungible token (NFT) rendition of a painting by Van Gogh has changed hands for $1.3 million. The transaction comes only a day after another Van Gogh-inspired NFT sold for $1.27 million. Auction records reveal that the digitized paintings, number 132, fetched a sum of 35.9999 BTC or $1,313,635, while number 283 was sold for 34.9999 BTC, translating to $1,275.612 on the Bitcoin network. The pieces are some of the many Van Gogh-inspired NFTs in the non-fungible market. In October, Paris’ renowned Musée d’Orsay announced the creation of unique NFTs inspired by van Gogh’s last days. One category offered an immersive augmented reality experience of Van Gogh’s ultimate palette, while the other showcased an exclusive digital art piece by French artist KERU, echoing Van Gogh’s style. The Musée d’Orsay also announced plans to welcome digital artists who employ blockchain in their work to curate collections influenced by the museum’s permanent exhibits starting in 2024.
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🖼 Umoja Foundation’s charity NFT collection that supports Ugandan orphans mints November 28 for Giving Tuesday
Umoja Foundation, the philanthropic web3 project, has unveiled their first collection of 6,050 charity NFTs set to mint on November 28 for Giving Tuesday. Hinging on the limitless possibilities that web3 opens up for direct humanitarian impact, Umoja’s mission starts with evolving NFTs into social tokens for good, providing altruistic, real-world utility. Umoja believes the next generation of philanthropy belongs on the blockchain thanks to its numerous benefits. Ideated by the very people the project supports, each Umoja charity NFT supports the orphans and surrounding needy community of Dasom Ministries Orphanage in Uganda. The 17 resident children of Dasom Ministries, led by Joel Muwonge, are not only the beneficiaries of the project’s proceeds, but also the artistic visionaries behind every piece of generative art in the collection. Proceeds from Umoja’s NFT sales provide direct real-world value by funding Dasom Ministries’ recurring expenses like food, medicine, education, and clothing, and fixed-cost projects like constructing a larger home, purchasing a transport van, and a clean water project.
NFTs | OpenSea | News
💰 Solana's Top NFT Project Just Pumped 122% in a Week
Solana (SOL) has seen a wild pump lately, more than doubling over the past month and hitting an 18-month high earlier this week. But it’s not just SOL that’s on the way up—the network’s top NFT project has also seen a rapid rise in value of late, registering a price climb of more than 100% in just the last seven days alone. According to blockchain data compiled by SolanaFloor, the floor price of a Mad Lads NFT has jumped 122% over the past week to 100 SOL, or about $5,750 at present. According to blockchain data compiled by SolanaFloor, the floor price of a Mad Lads NFT has jumped 122% over the past week to 100 SOL, or about $5,750 at present. That makes it the most valuable Solana collection by floor and also by market cap based on that floor price, which ultimately tops $57 million. This week, Mad Lads's price jumped even higher, above $6,000 worth of Solana. Not only was this notable for the price of the assets themselves, but also because the Mad Lads floor briefly surpassed that of DeGods. Mad Lads has registered the third-most trading volume of any NFT project over the last week, per data from CryptoSlam.
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🔫 Spacenet Enterprises acquires stake in String Metaverse
Spacenet Enterprises India Ltd., listed on the NSE, soon after making a strategic investment in BillMart.com, a Mumbai-based bill discounting fintech platform, has announced securing a significant stake in String Metaverse Ltd., which is into Web3.0, Esports and others for an unspecified amount. String Metaverse, with its presence in India, Hong Kong, and Gift City in Gujarat, is expanding its Esports platform across India, the Middle East, South East Asia, and Europe, Spacenet said in a statement. Prakash Dasigi, Executive Director, Spacenet Enterprises India in a statement said, “After a successful stake acquisition in BillMart, our second investment into String Metaverse reaffirms our confidence that both investments will yield exceptional returns, potentially ranging from 50-100 times for our shareholders over the next 3-5 years.” Ganesh Meenavalli, Director and Head of Global Esports Operations, String Metaverse said, “More than 20 million Gen Z, India Esports community will lead the global Esports scenario.” . which is into Web3.0, Esports and others for an unspecified amount.
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🇹🇼 Jorjin combines AR with healthcare to build Taiwan's first 'optometry X metaverse center'
A groundbreaking collaboration has emerged between Jorjin, a provider of augmented reality technology, and the Department of Optometry at the Central Taiwan University of Science and Technology (CTUST). This partnership marks a significant step in the integration of healthcare and digital advancement, leading to the establishment of Taiwan’s inaugural optometry center dedicated to exploring the metaverse’s potential. This union signifies a bold venture into uncharted territory, melding the precision of optometry with the boundless possibilities of the metaverse. The initiative is not just a first for Taiwan but also sets a global precedent for the application of augmented reality within the field of eye care. The collaboration is driven by a mutual recognition of the transformative impact such technology could have on both education and the treatment of visual impairments. Such a pioneering project reflects the digital zeitgeist, where virtual and augmented realities are increasingly intersecting with diverse professional fields.
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🔫 Copyright expo to feature online metaverse exhibition
The Ninth China International Copyright Expo, to be held in Chengdu, Sichuan province, from Nov 23 to 25, will feature an online metaverse exhibition for the first time, organizers said on Wednesday. The exhibition will use livestreaming to present offline forums and activities at the expo and also offer digital copyright consumption scenarios, said Wang Zhicheng, head of the copyright management bureau at the Publicity Department of the Communist Party of China Central Committee. The exhibition will use livestreaming to present offline forums and activities at the expo and also offer digital copyright consumption scenarios, said Wang Zhicheng, head of the copyright management bureau at the Publicity Department of the Communist Party of China Central Committee. He added that the exhibition aims to offer new ideas, approaches and paths for the transformation and development of the digital copyright industry. In addition to the exhibition, visitors will also witness China's latest achievements and technologies in the copyright industry at the expo, Wang said. He said people participating in the ninth such expo will come from more than 20 countries and international organizations.
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📊 Metaverse Market is Predicted to Garner $1,237 Billion by 2030: Allied Market Research
As per the report published by Allied Market Research, the global metaverse market is envisioned to generate a revenue of $1,237 billion by 2030. The market accounted for $41.9 billion in 2020 and is projected to manifest a fascinating CAGR of 40.4% over the forecast period 2021-2030. The report presents a comprehensive analysis of the market size & estimations, changing market trends, top investment pockets, drivers & opportunities, top winning strategies, and competitive landscapes. The global metaverse market is predicted to observe significant growth owing to the increasing popularity of cryptocurrencies and non-fungible tokens (NFTs). Furthermore, the compassionate goals of the decentralized network technology are predicted to bring profitable growth opportunities for the market over the estimated timeframe. However, complex security and privacy challenges on the Metaverse platform may impede the growth of the market to some level. The global metaverse market is evaluated based on component, technology, application, industry vertical, and region. By component, the hardware segment held the highest market share in terms of revenue, providing more than half of the total market revenue in 2020.
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🖼 'Mutant Ape Planet' NFT Developer Pleaded Guilty in $3M Fraud
The developer behind the Mutant Ape Planet non-fungible token (NFT) collection – a knockoff of the Mutant Ape Yacht Club NFTs – pleaded guilty on Tuesday to defrauding buyers in a rug pull that netted almost $3 million, according to the U.S. Department of Justice (DOJ). Aurelien Michel, a French citizen who lived in the United Arab Emirates, was arrested earlier this year in New York. He faces up to five years in prison and has agreed to pay $1.4 million in forfeiture, according to the U.S. Attorney for the Eastern District of New York. “Our office is acutely aware that criminal actors are taking advantage of the constant pace of innovation in the digital asset space and the investing public’s desire to become involved in cryptocurrency to perpetrate large-scale frauds," said U.S. Attorney Breon Peace.He faces up to five years in prison and has agreed to pay $1.4 million in forfeiture, according to the U.S. Attorney for the Eastern District of New York. When the Mutant Ape Planet buyers began realizing they'd been duped by the developers, authorities say that Michel, posting under the pseudonym “James”, admitted to the rug pull in the community’s Discord channel. “We never intended to rug but the community went way too toxic,” the developer posting as “James” wrote. “I recognize that our behavior led to this.”
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🇰🇷 Korea Metaverse Festival 2023 Concludes Successfully with Over 18,000 Attendees
The 8th Korea Metaverse Festival 2023 (KMF 2023), held under the theme “Again Metaverse, Partnering with A.I.,” officially concluded on October 18th at COEX. The exhibition, which attracted over 18,200 attendees, featured a record participation of 191 companies and 330 booths. At the opening ceremony on October 16th, Minister Lee Jong-ho of the Ministry of Science and ICT delivered digital rights and metaverse ethics policy messages in a virtual space created using metaverse technology. The global conference, “The MEANS,” featured policy announcements on metaverse by the Ministry of Science and ICT, as well as keynote speeches by experts from leading metaverse companies such as META, HTC, and NAVER Z. The conference explored the development of the metaverse industry, integrating A.I. and various sectors, presenting business strategies for Metaverse of Things (MoT) and Metaverse as a Service (MaaS). MoT (Metaverse of Things) signifies the metaverse version of the Internet of Things (IoT), connecting everything to the metaverse. MaaS (Metaverse as a Service) is the metaverse version of Software as a Service (SaaS), representing a subscription-based model for using metaverse platforms.
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🖼 NFT sales volume upward trend to continue, industry execs say
In the weeks leading up to November, nonfungible token (NFT) data showed a consistent upward leap in weekly sales. While the volume is still far from its peak in 2021, executives in the industry believe the upward trend will likely continue. On Nov. 6, data published by blockchain analytics firm Nansen showed that NFT sales volume leaped from $56 million in the week ending on Oct. 9 to $129 million in the week ending on Nov. 6. According to Jonathan Perkins, the co-founder of NFT marketplace SuperRare. Perkins also believes that the downturn in NFTs was “purely sentiment.” The SuperRare co-founder told Cointelegraph in a statement that in the past 18 months, nothing “inherently went wrong” with NFTs. “NFTs are a fundamental advancement in the internet because they introduce traceable origin and ownership to digital objects. This unlocks a new online creator economy that can be 100x bigger than Web2,” he added. The executive also believes that in the long term, NFTs will be a big part of the online economy, and the space will see volumes that “eclipse those of the last cycle.” Meanwhile, Oscar Franklin Tan, the chief financial officer of NFT platform Enjin, echoed the sentiments.
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🖼 Mad Lads NFTs Hit All-Time High as Backpack Taps FTX Lawyer for Exchange Launch
Solana-based NFT wallet app Backpack will launch a cryptocurrency exchange based in Dubai, the company has added former FTX general counsel Can Sun to lead the exchange. And now Backpack’s associated NFT project, Solana’s Mad Lads, has soared to an all-time high price. The news comes just weeks after Sun testified against ex-boss Sam Bankman-Fried in the U.S. government’s fraud trial against the FTX co-founder and former CEO. According to the report, Trek Labs aims to sell a 10% stake of the company to investors at a valuation above $100 million. Coral co-founder and CEO Armani Ferrante is listed as a minority shareholder in Trek Labs, per the report, while his wife Claire Zhang also holds a stake. Zhang was previously Sun’s deputy at FTX, while Ferrante himself worked at both Alameda and FTX before founding Coral. Trek Labs announced in October that it obtained a Virtual Asset Service Provider license from the Dubai Virtual Assets Regulatory Authority (VARA) to launch a regulated exchange in the country. Sun disclosed his history with FTX during the regulatory application process, according to the Wall Street Journal.
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🇨🇳 China declares stealing digital collections like NFTs liable for criminal theft sentence
The Chinese government says theft of digital collections violates the protection law and interests of the crime of illegally obtaining computer information system data. It outlines three views on the type of crime that theft of digital collections falls under, the first two classifying it as either data or digital property. However, the statement stresses that the third view, which sees digital collections as both data and virtual property, would fall under the umbrella of “co-offending.” The statement explained that stealing a digital collection includes intrusion into the system on which it is housed, therefore also committing the crime of illegally obtaining computer information system data and theft. It elaborates on this topic, naming digital collections “network virtual property” and stressing that in the criminal law context, “collections should be recognized as property.” NFTs were specifically mentioned, establishing that digital collections are derived from the concept of NFTs “abroad” and use blockchain technology to “map specific assets” with “unique, non-copyable, tamper-preventing, and permanent storage characteristics.”
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