NFT & Crypto Updates

2023-10-09 04:02:52 Epic Games lays off 800 employees and announces financial restructuring

Epic Games, known for its hit game Fortnite and the Unreal Engine, shocked the market by laying off more than 800 employees in a drastic financial restructuring. Tim Sweeney, the company’s CEO, broke his silence and explained the reasons behind this sudden decision. According to Sweeney, the financial difficulties that led to this action were only seen about ten weeks ago. He revealed that the issue came to his desk in July, and the company realized it needed to act quickly to avoid financial collapse. “We realized that we are facing a financial problem that needs to be solved immediately. This is really a process of reconciling our business model with the reality that will eventually come to all companies. We got away from that for a while with Fortnite and got it back – but we got to a scale of almost 4,000 people working as we got less and less money. And we’re desperate now that we have to act differently to make sure we don’t go back to these types of conditions,” Sweeney said. The CEO also admitted that Epic Games was at fault for overspending. “We’ve spent more money than we’ve made, investing in the next step of the company and the growing ecosystem inspired by Metaverse for Fortnite creators. I’m very optimistic that I think we can make this whole transition without layoffs, but in retrospect I wasn’t realistic enough,” Sweeney admitted.

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2023-10-08 21:02:53 Genius Group Hosts Partner Conference in the Metaverse

Genius Group Limited (NYSE American: GNS) (“Genius Group” or the “Company”), a leading entrepreneur edtech and education group, held its global Partner Conference yesterday as a three hour immersive experience. More than 700 partners from around the world registered for the Partner Conference to gain insight into the latest trends in online education and artificial intelligence, unlock success strategies by applying the Genius Formula, network with experts, explore partnership opportunities and playing the ‘World Game’ to make an impact in the world and address world hunger. The conference’s keynote was Jeff Hays, Founder of Revealed Films and author of ‘The Entrepreneurial Brain - How to Ride the Waves of Entrepreneurship and Live to Tell About It’, launched this week by Harper Collins. The Entrepreneurial Brain is also being launched as a Docuseries by Revealed Films, a Genius Group company. Conference attendees also experienced a preview of Genius Metaversity 2.0, with four campuses (School, University, Entrepreneur & Investor Campuses) and a partner portal designed as a space station in orbit, including live courses, events and master classes, with the ability to teleport visitors to the global classrooms of Genius Group’s faculty partners and country and city leaders around the world.

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2023-10-08 16:02:53 NFT creator wins multimillion-dollar lawsuit, paving ways for other artists to 'stand up for themselves'

Reaching millions of audiences using his artist name Coolman Coffeedan, Casale’s work revolves around a wholesome idea that he personally believes in. “You know, messaging around how everything's gonna be okay, how you are loved, you are special, you're not nearly as ugly as you may think you are,” he told ABC News. Casale’s work first rose to the public eye after his animation entitled “Snakes Have Legs” went viral in June 2017, amassing over 5 million views on YouTube. To date, Casale has accumulated hundreds of millions of views on his YouTube channel and over 6 million followers on Instagram and TikTok combined. He also published a book in 2021, called, "Ur Special: Advice for Humans from Coolman Coffeedan." Although achieving such success in life sometimes could come at a cost and in Casale’s circumstance, it almost robbed him of his career and identity as an artist. The NFT creator told ABC News, in March 2022, he learned a multimillion lawsuit was filed against him by DigiArt LLC, a platform which was co-founded by Robert Earl, a billionaire who is also the founder and CEO of Planet Hollywood. In the lawsuit, DigiArt LLC, alleged Casale "entered into an agreement" with them which required the two parties "to split net sale proceeds of any of Casale’s NFTs on a 50-50 basis."

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2023-10-08 10:02:53 Metaverse Market worth $1,303 billion by 2030

CHICAGO, Oct. 6, 2023 /PRNewswire/ -- The future of the metaverse will be characterised by the widespread use of VR and AR technologies, convergence with AI, blockchain, and IoT, a wide range of applications outside of gaming, digital economies with NFTs, privacy and security challenges, the need for interoperability, regulatory considerations, and significant societal and cultural effects. The metaverse's exact shape and effects, though, are still up for debate, and it will take a while for it to mature. The global Metaverse Market is expected to grow from USD 83.9 billion in 2023 to USD 1,303.4 billion by 2030 at a Compound Annual Growth Rate (CAGR) of 48.0% during the forecast period, according to a new report by MarketsandMarkets . The metaverse market is expanding, and vendors are adopting a strategic focus to attract customers. VR hardware, including headsets, controllers, and tracking systems, has improved dramatically in terms of quality, affordability, and accessibility, making VR more attractive to a broader audience. VR has found applications in training and education across various industries. From medical simulations to flight and job training, VR provides a safe and effective way to learn and practice in realistic scenarios. These services are increasing the demand for the metaverse market.

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2023-10-08 04:02:53 NFT-Funded ‘CALLADITA’ to Premiere at Tallinn Film Festival

The world of cinema has always been a space for innovation and creativity, but few have tangibly seen the collision of NFTs with the realm of feature-length films. Miguel Faus, writer, and director, has embraced this intersection as CALLADITA is set for its World Premiere at the Tallinn Black Nights Film Festival, recognized as one of the 12 A-Class Film Festivals globally. A film funded entirely through NFTs, CALLADITA or “The Quiet Maid”, delves deep into the life of a young Latin-American maid working tirelessly for a wealthy family during their summer vacation. The narrative intricately intertwines class disparities and societal injustice themes, offering an authentic representation of these subjects without resorting to clichés. It’s when she befriends a fellow maid from a neighboring house that the possibility of her own summer joy becomes tangible. Faus’s feature film, CALLADITA, draws inspiration from his 2020 short film of the same name, which garnered acclaim at various festivals and was eventually acquired by HBO Max. Seeking a novel approach to finance the feature-length adaptation, Faus initiated an NFT sale in March 2022, showcasing stills from the original short film. This creative funding method proved successful. By September, filming commenced in the scenic Costa Brava, Spain, spanning five weeks. The production boasts a stellar Spanish cast, including notable names like Ariadna Gil, Luis Bermejo, Pol Hermoso, and features Paula Grimaldo in a leading role.

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2023-10-07 21:02:53 Crime scene recreation in metaverse a highlight of cOcOn conference

A man with his clothes in disarray lay dead with his face down on a bloodied floor with boot marks. Strewn around were a blood-stained knife, an uncapped lipstick, a wallet, an empty soft drink can, and a pair of footwear. It looked like a crime scene, although it was a simulated one. The stall demonstrating Crime Scene Recreation in Metaverse, an immersive 3D virtual space that transports investigators and jurors to a crime scene, developed by Gyaan Innovation Lab of the Indian Institute of Information Technology (IIIT). “Testing the technology on a real crime scene to verify its effectiveness remains the next step as the technology is ready to be deployed. We have developed our own software platform VEMP [Virtual Event Management Platform] to create a virtual replica of the crime scene including all relevant objects, structures, and terrain without the support of any third party software,” said Anuroop K.B., Chief Innovation Officer, IIIT Kottayam. The technology helps in collecting all available data about a crime scene using scanning technology to create a 3D model accurately capturing the scene’s geometry and objects, which is then imported into VEMP. The captured crime scene can be hosted within Cyberdome with restricted access or can be stored in cloud.

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2023-10-07 16:02:53 Wellness NFT YogaPetz Sells Out In Less Than 45 Minutes With A Value Close To $3 Million

Yogapetz is thrilled to announce the remarkable success of their latest release, the Wellness NFT YogaPetz collection, which experienced an astounding 130% over-subscription rate. Within a mere 45 minutes, the entire 10,000-piece collection was completely sold out, generating an impressive sum of 1,761 ETH, equivalent to approximately USD 3 million in sales. This groundbreaking achievement occurred on August 31, 2023, despite the challenging market environment for NFTs during the prevailing winter season. YogaPetz is a decentralized wellness ecosystem that prioritizes mindfulness, community, and rewards, aiming to provide users with a secure, transparent, and decentralized platform that nurtures mental and physical well-being. Utilizing the $PRANA token in conjunction with a mobile application, users are incentivized for practicing and maintaining healthy mind and body habits (Relax – Rewards – Retreat – Repeat). The success of the YogaPetz collection has paved the way for exciting developments and partnerships within the wellness ecosystem. “The rapid sell-out and the substantial value generated demonstrate the strong appetite for wellness-themed NFTs in the market.

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2023-10-07 10:02:53 Bitcoin Ordinals Growing Despite NFT Market Downturn: Report

Bitcoin’s growth shows no signs of slowing down, according to data. This week, Galaxy Research and Mining published a second report in their series on Bitcoin Inscriptions and Ordinals. Galaxy Research and Mining is a digital asset and blockchain firm that has been developing a comprehensive financial platform since 2018. Its platform offers services like trading, lending, investment solutions, bitcoin mining, and more. The most recent report delves into the advancements and changes in this domain since that time. According to the report, in the first 200 days of Bitcoin Ordinals, 1.14 million image-based inscriptions were created. This growth is faster than the first 200 days of NFTs on Ethereum, Solana, and Polygon combined. This report does not include volume from BRC-20 tokens. However, even without BRC-20 token inclusion, Bitcoin remains as the third most popular chain for digital collectible activity. It’s important to note that despite this upward trend, overall NFT trading volumes across all chains have been on the decline. According to data from Cryptoslam, NFT sales dropped 8.7%, from 4.2 billion in September 2021 to $3.8 billion in October 2023.

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2023-10-07 04:02:53 Versum NFT Platform Announces Shutdown

Versum, the NFT platform used by many artists, collectors, and Tezos NFT enthusiasts, has announced its decision to discontinue services and shut down its platform over the next few months. While the company didn’t cite a specific reason, the founders of Versum took to their official social media channels to express deep gratitude for the unwavering support and sheer enthusiasm that its community has provided over the years. The bond, as they put it, has been nothing short of heartwarming. While the decision comes as a blow to many, the founders remain optimistic about the enduring spirit of the Versum community, hopeful that its essence will reincarnate in other innovative platforms and ventures. To ensure a seamless transition and allow users ample time to wrap up their affairs on the platform, Versum has delineated a phased shutdown process: Starting October 20th, minting on the ITEMs contract will be discontinued. By November 1st, the creation of new market listings will come to a halt. This will be followed by the freezing of the marketplace contract on November 14th, where users will only have the ability to cancel their listings. Finally, on December 1st, the Versum website will officially cease all operations.

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2023-10-06 21:28:27 Deadmau5-Backed Nitro Nation NFT Racing Game Hits iOS and Android

Blankos Block Party and NFL Rivals game developer Mythical Games has launched Nitro Nation World Tour (NNWT), a free-to-play mobile drag racing game with licensed car NFTs from luxury brands like McLaren, Aston Martin, and Jaguar. In NNWT, gamers can race each other in real-time or play through the game’s campaign mode after fine-tuning their cars and upgrading their garage. Mythical published the game with the support of CM Games, the maker of the original Nitro Nation game released back in 2014. NNWT offers players a range of cars to choose from, with Volkswagen, Subaru, RUF, Lotus, Pagani, Saleen, and KTM models also available. Electronic musician Joel “Deadmau5” Zimmerman—who previously launched his own NFTs starting in 2021—is also promoting the game, and will use NNWT visuals in his upcoming tour that begins Thursday in Tokyo, Japan. Deadmau5 is a known supercar fan himself. He previously got into a legal spat with Ferrari in 2014 over his Nyan Cat-themed wrap and custom details for his Ferrari 458 Italia Spider, cheekily dubbed the “Purrari.”. Gamers will have to compete in a Deadmau5 racing event to win the exclusive car. He previously collaborated with Mythical Games on Blankos Block Party in-game content.

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