Are you ready for some NFTs news?
We've prepared a new article that covers the latest news and updates in the world of Web3 and NFTs. Read them below!
Contents
📈 Macro – Crypto adoption from companies' point of view – report;
🗞️ Last week's news – University of Nicosia, BND, LooksRare, Bitmap Theory, IYK;
💰 Investments/Financing – Anichess, Galaxy Finance, Poko, EDX Markets, Cat Paradise;
📣 Projects news/Updates – Nouns DAO, Azuki, NFT Gods Unchained, Yuga, Pudgy Penguins;
⚖️ Legal – Metaverse Lawyer writes about the fine imposed on lawyers who cited non-existent cases using ChatGPT;
🐈 Veefriends – Please Take a Step Back;
⚙️NFTility, by Mtk – Kanpai Pandas;
📚 Dictionary – Ordinals Inscriptions, Ethscriptions;
💸 Sale of the week – BAYC #2376;
📈 Macro
On June 23, Coinbase published a report titled State of Crypto: Corporate Adoption. It's full of interesting stuff about the whole Web3 ecosystem, it's easy to read (you have the link above), and below is the summary of interesting stuff about NFTs & Metaverse.
Many of America's biggest brands interact with web3 technology to stay competitive and position themselves for the future.
- 64% are concerned about staying ahead of the competition;
- 45% are interested in meeting consumer expectations;
- 55% say they are working on crypto, blockchain or web3 initiatives because the technology allows them to streamline their business;
- The main sources from which they learn about Web3 are industry reports (63%) and industry events (62%), followed by news (49%); Perfect, means they can't wait for NFT Bucharest.
- Many Fortune 500 executives note that web3 is critical to the survival and growth of their companies and that business is moving in this direction, and they want to be included.
Use cases or current and planned initiatives on crypto, blockchain and web3 among Fortune 500 executives:
Apart from the obvious:
- NFTs/ collections 20%
- Metaverse 18%
Others caught our attention because we see them seamlessly integrated with NFTs:
- Data collection & management – 51
- Identity – 38%
- Marketing – 31%
- Customer loyalty/engagement/community building – 34%
Nike leads the Fortune 100 in royalty revenue, unique buyer base and a number of unique collections launched.
Nike is also working with EA Sports to integrate NFTs in the form of apparel into video games (NFTs/collectibles, Metaverse): In June 2023, EA Sports and Nike announced a partnership to integrate virtual assets from .Swoosh, Nike's Web3 marketplace, into future EA Sports games.
Fortune 100 Companies: Investments by Category
The NFTs/Gaming area caught our attention again – 11%, which ranks 4th, after Enterprise 23%, Financial Services 24%, Infrastructure, 15%.
9 out of 10 executives (91%) agree that the lack of clear regulation on crypto, blockchain or web3 makes this space difficult to navigate. 52% say their company is postponing major investments in crypto, blockchain or web3 until they feel more confident about the regulations that will be put in place.
Another 9 out of 10 (92%) agree that policymakers should develop new rules suitable for these new technologies instead of applying older rules that were developed for older technologies.
And all this now, when, remember, it's bear market!
🗞️ News from last week
- If you are interested in becoming an expert in the Metaverse, the University of Nicosia has created the Master of Science in Metaverse degree program where you will have as guests Punk 6529 (one of the biggest NFT collectors in the world), Beeple, Balaji Srinivasan and many others.
- Germany's intelligence service, BND has launched the NFT Dogs of BND collection along with a crypto quest, through which they aim to recruit blockchain experts to combat cybercrime.
- LooksRare introduces an affiliate program, offering incentives to individuals or platforms to attract users to their NFT marketplace.
- Bitmap Theory introduces a concept that allows users to claim ownership of BTC blocks and their inscriptions. Once a block is registered, it has the potential to become part of a metaverse.
- IYK launched a new autograph module at Paris Fashion Week, allowing users to immortalize autographs on their digital items using blockchain.
💰 Investments / Financing
- Anichess, a subsidiary of Animoca Brands, is raising $1.5M for the development of its Web3 chess game.
- Galaxy Finance attracts $30M to expand its Web3 wallet and financial education initiatives.
- Poko, a Web3 payments startup, gets $4.5M for new product development and an SDK/revenue generation protocol in USD.
- EDX Markets (EDX), a digital asset marketplace, closes a round of financing with participation from investors Miami International Holdings, DV Chain, GTS, GSR Markets LTD and HRT Technology.
- Cat Paradise, a P2P blockchain game on the TON network, raises nearly $1M. Investors include Mask Network and Moon Capital.
📣 Projects news / Updates
- Nouns DAO and Atrium launch the first DAO-funded animated film, entitled 'The Rise of Blus: A Nouns Movie', featuring characters from the NFT Nouns collection.
- Following the 'Follow the Rabbit' event in Las Vegas, Azuki airdrop soulbound tokens and announced its new 'Elementals' NFT collection.
- The NFT Gods Unchained card game is now available on the Epic Games Store.
- Yuga will launch a new era of gamified experiences for the HV-MTL ecosystem with the launch of HV-MTL Forge on June 29.
- Pudgy Penguins has announced a soulbound token as a reward for any toy owner who submits an unboxing video.
⚖️ Legal
U.S. lawyers fined $5K for invoking ChatGPT's made-up cases
You probably already know the case, but now the penalty has been determined. Two attorneys have been ordered to pay a $5,000 fine for filing a brief in which they subpoenaed cases made up by ChatGPT.
This saga (too soon?😄) began when a firm client wanted to sue an airline after allegedly injuring his knee during a flight. Schwartz took on the case and used ChatGPT for legal research. The chatbot returned six previous similar cases it claimed to have found, and the lawyer included this in the filing. Unfortunately for the two attorneys, ChatGPT completely fabricated the six cases, and the two tried to argue out of admitting that they had depended entirely on an AI chatbot and had not verified its claims. Bad luck 😂
Well, a federal judge has decided to fine the two lawyers for "shifting and contradictory explanations" and for lying to the court at the outset when they tried to defend the legal brief they filed in which they cited six cases that simply didn't exist. The judge also ruled that the attorneys must notify the judges who were cited as the authors of the six false cases created by ChatGPT (they were real, as opposed to cases).
In his ruling, the judge said he had no problem with the use of artificial intelligence in law. However, the lawyers were remiss in their duty to ensure that the research was accurate. Reasonable, in my opinion.
Things could have gone much worse for lawyers. Surprisingly (though not really, because the lawyer is still a lawyer), they are considering an appeal.
"We have already apologized to the Court and to our client. We continue to believe that, in the face of what even the Court recognized was an unprecedented situation, we made a mistake of good faith in not believing that a piece of technology could make up cases out of thin air."
There you go!
🐈Veefriends
The final phase of the "Please Take a Step Back" collaboration between VeeFriends and Death Row Records has been announced for release on June 30, 2023. Participants are invited to create their own "Please Take a Step Back" video of up to 60 seconds on TikTok or Instagram, highlighting their creativity. Whether you're passionate about dance, art, animation, comedy, rap, poetry or any other form of artistic expression, this is a unique chance to win a once-in-a-lifetime experience with GaryVee and Snoop Dogg. Entry is via the Burn Island platform by burning a PTaSB token and 10 winners will be selected. Selection criteria for those interested can be found on the blog.
⚙️ NFTility
Kanpai Pandas is one of the projects that links web 2 and web 3 very well, as the Panda Labs team seems to understand the cultural dynamics between the two.
Launched in April 2022, it was one of the first "omnichain" mintable collections on 7 different blockchains (Ethereum, BNB Smart Chain, Polygon, Avalanche, Fantom Arbitrum and Optimism).
The proposal they came up with was to create a community that appreciates sports and entertainment events. And they didn't move badly at all. They gathered an impressive list of names around them. Athlete ambassadors like Roy Jones Jr. or Ilia Topuria and advisors including Steve Cohen of United Talent Agency, Steve Espinosa – former technical advisor and Deputy Chief Digital Officer at the White House, Paul Chianese co-founder of kick.com, Malki and Abraham Kawa of First Round Management or Jeff Willard, with extensive experience in brand management.
From the beginning, KP has built a system focused on activating the community through access to IRL and virtual events. Access is most often through participation in raffles held on their own marketplace, PPDEX. Qualification is via Panda Points (automatically accumulated by each NFT and by completing various tasks). Points can also be used in Panda Lab to style NFTs (changes will be visible even on-chain), in Kanpai Casino (where they can be exchanged 1:1 for game tokens) or to receive discounts when purchasing tickets to partner events.
For the partnerships they make, for the dynamic way they do things, and for constantly building in the bear market, Kanpai Pandas has the opportunity to become one of the important brands coming from web 3.
Until next time, I encourage you to dare.
📚 Dictionary
- Ordinals inscriptions – Ordinals inscriptions are similar to NFTs, being digital assets inscribed on a satoshi, the lowest denomination of a Bitcoin (BTC). Ordinals are a way of putting technical details (in terms of ordering and numbering) on individual satoshis. The inscriptions depict works of art or other images that have been added directly to the Bitcoin blockchain.
- Ethscriptions – is Ethereum's new protocol that allows the inscription and sharing of digital objects on ETH, similar to Ordinals inscriptions. It's about writing non-financial and arbitrary data to the Ethereum blockchain. Users can subscribe any file type, provided it is less than 96 kilobytes in size. According to the creator, currently only images are allowed – but this will change in the future.
💸 Sale of the week
This trippy monkey sold for 149 ETH ~ $281k, and 2 years ago it was bought for 1.65 ETH. Now that's profit!
Find us:
Creative Tim
- Official Website
- NF-Tim – Our official NFTs Collection
Metaventis
- Official Website