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2023-03-21 05:35:01 NFT wash trading recorded fourth consecutive raise in February

Non-Fungible Token (NFT) wash trading volume recorded its fourth consecutive growth during the month of February, according to a recent CoinGecko report. The total NFT wash trading volume increased to $580 million, as the CoinGecko report cited. NFT marketplaces X2Y2, LooksRare, and Blur recorded the highest volumes in NFT wash trading in February.

Wash trading is an illegal practice where investors buy and sell their assets at the same time for the same price. Wash trading doesn’t provide financial returns. However, it boosts market volume, which can be used to manipulate price levels. NFT wash trading can happen between two NFT holders who agree on the terms or a single NFT holder who sells from one address and purchases from another. The last time NFT wash trading volume recorded a decrease was in November 2022, when it fell to as low as $190 million from October’s $330 million. Since then, the total NFT wash trading volume has been growing.

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2023-03-20 07:36:02 Silicon Valley Bank Drags Down NFT Trading Volume by 51%: Report

Silicon Valley Bank (SVB) was the backbone of many startups and venture capital funds around the world. Its collapse signifies the biggest banking failure since the 2008 financial crisis. While the crypto market has largely been spared from an adverse effect, the same cannot be said for the non-fungible token (NFT) space. According to the latest edition of the DappRadar report, the NFT traders went “numb” in response.

The NFT industry followed a steady upward trajectory for most of 2023. In fact, the sales recorded highs as the broader market recovered while mainstream adoption of NFTs also saw a spike. However, the collapse of SVB and the de-pegging of one of the largest stablecoins – USDC – was felt in the NFT market. Since the beginning of March, the NFT trading volume dropped by 51%. The sales count also took a hit, falling by nearly 16%. DappRadar said NFT traders are becoming less active as market participants questioned the stability of the stablecoins. The number of such traders on March 11th was recorded to be 12,000.

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2023-03-19 09:25:04 ParaSpace Almost Lost 2,900 ETH Because Of Hacker Attack

ParaSpace, an NFT Lending platform, has announced the suspension of operations owing to the detection of a suspicious transaction. According to the team, they are presently investigating and will offer an update as we get more information. Users have also been informed that the property left in the project is still protected. At the moment, no transactions, including withdrawals, deposits, or liquidations, are possible on ParaSpace.

Moreover, the audit company BlockSec stated that it had discovered an assault on the ParaSpace platform, therefore shielding around 2,900 ETH (almost $5 million) from hackers, and a large number of BAYC holders avoided losses. Currently, ParaSpace has only been in operation for two months. Without issuing token incentives, it attracted the second-highest TVL on the same track. Compared to other NFT loans, its products are more suited to the habits of old DeFi players, and products are full of small details for the benefit of users. Despite having just recently launched its mainnet version.

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2023-03-18 05:57:02 Instagram NFT initiative's swift death mints mourners, mehs

Meta’s decision to test an initiative that allowed artists to sell NFTs on Instagram was widely considered a positive development for the struggling industry. Now that the tech giant has pulled the plug on the project, web3 enthusiasts’ reaction to the sudden move is all over the place. Krugman’s frustration may resonate with many independent artists.

Meta’s new NFT feature allowed him to interact directly with his audience and he could seamlessly sell NFTs on the platform rather than having to redirect potential buyers to third-party marketplaces like OpenSea. Krugman did only one drop on Instagram of 100 NFTs at $50 a piece, which he said sold in under a minute. Meta is moving off of NFTs a little less than five months after launching the initiative that allowed a select few “creators” to showcase and sell “digital collectibles” — NFTs — using Instagram. Stephane Kasriel, Meta’s head of commerce & financial technologies.

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2023-03-17 11:30:17 Microsoft dips Teams in the metaverse vat with avatars ahead

Microsoft Teams users are getting more ways to express themselves to other participants on those increasingly frequent video calls. Redmond is continuing to add features that enable users to change the look of their environments during video meetings, from blurring the background to putting shots of scenic vistas behind them.

Teams users now are getting more filters to add colorful animation to the screen or change the hue of the video. The visual effects filters, which were put into public preview in January, are being made generally available this month. And for those who just want to turn off the camera and get off the screen during video conferences, Microsoft starting in May will be rolling out 3D avatars that will give other participants something else to look at instead. Video conferencing was already on the rise, but the COVID-19 pandemic almost overnight ramped demand.

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2023-03-16 11:55:07 The Pokémon Company Might Be Preparing to Make Moves in the Metaverse

The Pokemon Company, a corporation in charge of the development of the Pokemon brand, might be preparing to make some moves regarding the franchise and the metaverse. The company has opened a job opportunity that includes experience and knowledge of fields like blockchain, Web3, and the metaverse as a requirement.

The Pokemon franchise might be taking its brand to the metaverse. Fans of the franchise believe that the opening of a new job position involving metaverse and Web3 knowledge could hint at the company moving in this direction. The company is not directly responsible for developing Pokemon games, and is more involved in the development of the brand and the distribution of its products. The company is currently seeking a “Corporate Development Principal,” that will be responsible for the construction of strategies and partnerships to grow the Pokemon Company, bringing new ideas and developments for the brand.

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2023-03-15 11:37:02 New sci-fi drama featuring metaverse staged in China's Shenzhen

A new Chinese sci-fi drama featuring the metaverse and artificial intelligence (AI) has been staged recently in Shenzhen, an innovation hub in south China's Guangdong Province. Set in the year of 2050, "Yunshen" portrays a society where people can create personalized avatars in the "cloud" to assist them with daily tasks, thanks to the revolutionary development of metaverse technology.

By depicting how "cloud avatars" develop their own personalities over time, the drama presents a philosophical exploration of morality, ethics and responsibility. The drama was co-produced by SUSTech and Shenzhen University. Chinese sci-fi movies have achieved great success in recent years. "The Wandering Earth II," the latest Chinese sci-fi blockbuster, has raked in over 4 billion yuan (about 580 million U.S. dollars) as of Tuesday, according to box office tracker Maoyan. The continuous development of AI and metaverse technology is challenging people's understanding of their careers.

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2023-03-14 18:00:48 FalconViz launches metaverse lab offering BIM solutions

Saudi asset digitization company FalconViz has announced the launch of its first metaverse lab in Saudi Arabia, offering tools that can be applied to any building information modeling project, handle giga-projects and deliver mixed-reality experiences. The company sees the launch as just the beginning of its journey of contributing to achieving the Kingdom’s Vision 2030.

The announcement of “FalconViz Metaverse” was made at the BIM and Digital Twins Exhibition 2023 in Riyadh, heralding the company into the new age of digitization. The metaverse is largely considered the next era of the internet. Whilst it is difficult to single out one standard definition for the metaverse, it is considered an immersive, interoperable and synchronous virtual world. This new age of the internet will most certainly disrupt and transform the current social and economic structures and bring about a whole new wave of opportunity across many different sectors.

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2023-03-11 11:12:02 OTT platform Aha forays into Metaverse with 'Ahaverse'

OTT platform Aha is all set to foray into the metaverse with the launch of 'Ahaverse' – which as per them is directed towards the younger generation who are exposed to newer forms of technology. The platform is planning to offer a group viewing experience through Avatars, options to visit sets of shows like Telugu Indian Idol and Unstoppable

Ahaverse, which is set to launch in March, will give brands an opportunity to own the show sets and create product and experience centres, offering them more ways to interact with consumers. In an exclusive conversation with BestMediaInfo.com, Kartheek Kanumuru, Head of Marketing at Arha Media and Broadcasting and Nitin Burman, Head-Non-Subscription Revenue, Arha Media and Broadcasting spoke about the multiple possibilities for the people as well as the advertisers in the Ahaverse. At Aha, the culture we have inculcated is that we want to try new things and for that, we have a new initiative department as well.

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2023-03-10 11:40:03 Nike and Starbucks show how brands are rethinking NFTs

“NFT” is not in the fine print of Starbucks’ Web3-style rewards program called Odyssey. The terms of service refer to “non-fungible digital tokens” once, and then call the digital rewards “Stamps.” Nike’s high-tech .Swoosh community calls NFTs “virtual creations.”. For many people, words such as NFT, crypto and blockchain, induce eye rolls.

Vayner3 works with brands including Budweiser and Pepsi, and it has produced NFT collections, blockchain-based games, and loyalty programs tethered to Web3 technology. Vayner3 also is an example of how the agency world is reframing the conversation, changing its name from VaynerNFT last year. The soft rebrand was partly due to the shifting attitudes around NFTs. The public has a love-hate relationship with NFTs, or non-fungible tokens. Web3’s earliest adopters were sold on the technology, while others recoiled. Many gaming communities, for instance, blasted studios that dared to mention interest in NFTs.

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