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2022-09-26 17:34:02 Metaverse graphics aim for community and accessibility — Not realism

Some may argue that the Metaverse has been around for years, as demonstrated by early gaming platforms, yet virtual ecosystems are now being embraced by almost every industry. A recent report from consulting firm McKinsey & Company believes that the Metaverse has the potential to generate at least $5 billion in value by 2030.

There is still the perception that most metaverse platforms are lacking when it comes to graphic quality. For example, Mark Zuckerberg was recently criticized for posting a selfie in front of the Eiffel Tower within Meta. Although Meta has already invested over $10 billion into building its metaverse, some have pointed out that Meta’s current graphics are lower quality than images that appeared in Second Life in 2007.

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2022-09-25 18:06:02 Apple's imposition of its app tax on NFT sales is abusive

Apple collects "up to 30% of the transaction": the app tax even exceeds 30% under certain circumstances, plus developers are increasingly forced to pay for Search Ads as Apple places ads even on individual app pages. Let's leave that for another day. All that matters here is that as long as NFT businesses are legal.

Apple's impact on wide swaths of the economy becomes clearer every day. In the summer, venture investor Alex Gurevich said Apple's App Tracking Transparency might deserve as much blame for a recession as inflation as all sorts of businesses now face much higher customer acquisition costs. On Tuesday, I criticized Apple's dictate of currency conversion rates because it contributes to eurozone inflation. Compared to those macroeconomic issues, the impact of Apple's App Store tax on NFT startups is of limited--but definitely non-negligible--relevance.

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2022-09-24 20:12:02 Many NFT projects lack adequate smart contract testing, says nameless founder

Jimmy McNelis, the founder of Web3 tech firm nameless, says there are too many nonfungible token (NFT) projects rushing to market without proper smart contract testing — potentially leading to millions lost. Speaking with Cointelegraph, McNelis suggested that a lot of NFT projects often rush to market without fully simulating how their smart contracts will work, in some cases even skipping extensive audits.

McNelis said an example of this was observed during the sale of the Akutars NFT collection in February 2021 — featuring 15,000 tokens that went up for sale on Winklevoss-owned NFT marketplace Nifty Gateway. McNelis explained that while projects can use public test nets to conduct trials for networks like Ethereum, many don’t as it could open the door for copycat scam projects. He also says that some don't want to test in public environments due to the lack of confidentiality.

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2022-09-23 13:40:04 Argentine Airline Flybondi to Adopt NFT Technology for Ticket Issuance

Flybondi, a low-cost Argentine airline, is introducing blockchain tech in its operations. The company announced recently it will start issuing tickets as non-fungible tokens (NFTs), broadening the possibilities of what customers can do with them. Users will be able to sell or transfer the tokens to other travelers up to three days before the applicable flight.

More companies are including NFTs as part of their business models due to the perceived benefits and advantages they can bring. Flybondi, a low-cost Argentine airline, has also decided to use blockchain tech in its operations, announcing it will issue tickets as non-fungible tokens (NFTs), broadening the scope of what customers can do with them. The solution, which was developed by Travelx, a blockchain tech development company, will allow customers to trade.

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2022-09-22 16:14:02 STEPN and GigaSpace Metaverse Form Strategic Partnership

The two have formed a strategic partnership to build a virtual STEPN city in the GigaSpace metaverse. Sharing the same vision with STEPN – building a bridge connecting Web2 & Web3, GigaSpace is building a virtual world that is not only designed for Web3.0 parties, but also Web2.0 parties that will dive into Web3.0.

The STEPN City will be a sports-themed city that includes buildings and facilities such as stadiums, shopping malls, and community space, where fans and supporters can buy STEPN merchandise, initiate community events, and interact with each other in a meaningful way. The objective of this partnership is to provide a virtual space where the fans from around the world can gather easily, not limited by geographical barriers.

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2022-09-21 18:39:02 ENS NFT Project Regains Control Of Its “eth.link” Domain Name

The Ethereum Name Service (ENS) has regained control of the Web domain name “eth.link” after securing an injunction from an Arizona court. ENS, an Ethereum-based NFT project, entered into the legal battle with GoDaddy earlier this month. In a September 19 blog post, True Names Ltd, the parent company of Ethereum Name Service NFT collection.

The company behind the Ethereum Name Service NFT project filed a lawsuit against web domain registrar GoDaddy for selling its domain name to a third party earlier this month. True Names Ltd accused GoDaddy of breaching a domain name registration contract. According to True Names Ltd, GoDaddy wrongfully assumed the eth.link domain was expired and sold it to a third party. The “eth.link” domain name was sold to Dynadot, another domain name registrar who later sold it to DeFi aggregator Manifold Finance for $852,000.

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2022-09-20 15:14:02 Atari Partners With The Sandbox & Brings Atari Jam Game Into The Metaverse

In partnership with Atari, Sandbox – a top-class play-to-earn metaverse game – has announced that it will be hosting a Game Jam. The event will hold from September 19 to October 16, after which no more entries will be accepted. For Atari, this is a big way of contributing its quota towards game development.

Since it began operations in 1972, Atari has been a reputable gaming firm. It is famous for developing fascinating video games, including Pitfall, Pong, Adventure, Space Invaders, Missile Command, Ms. Pac-Man, Asteroids, and Pole Position. The list goes on till about 2000+ games. And that’s incredible. Sandbox announced its partnership with Atari, one which is posited to be a feasible one.

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2022-09-19 18:04:02 Türkiye going through metaverse winter

Türkiye is living a “metaverse winter” as the thrill of buying lands on the metaverse has passed, experts have said. “Those who saw the metaverse as an investment tool and were affected by the rapid depreciation of the market lost their faith in it,” said Levent Eraslan, the head of the Social Media and Digital Security Research Center (SODİMER).

There has been a decline in interest in the concept of a metaverse in Türkiye in recent months, according to Eraslan. The expert stated that Metaverse offers a market opportunity that cannot be ignored with the potential to generate a value of up to $5 trillion by 2030. The reduction of the concept of metaverse to environments where we connect with virtual reality glasses or to land purchase and sale transactions in the metaverse world leads to alienation from the concept, according to Eraslan.

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2022-09-18 08:49:02 Web3 fashion giants come together to host Global Metaverse Fashion event

The metaverse event company RLTY partnered up with metaverse fashion giants The Fabricant and World of Women (WoW) to host a global metaverse fashion event in the Decentraland between Sept. 20 and 22. The Fabricant is a digital fashion company focusing on bringing a sense of fashion.

The event’s primary goal is to attract women and fashion into the metaverse. The three-day event will take place at a specifically designed destination in Decentraland called “Synth Ave.” The area is intended by RLTY and is inspired by the famous New York Fashion street. The WoW and Fabricant came together to showcase a digital fashion collection made up of 27 pieces to kickstart the event. The 27 pieces are a part of a 1000-piece collection which will be released later. Participants can purchase one of these 27 pieces from OpenSea, or buy one during the event using MANA.

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2022-09-17 16:07:02 NFT Ratings Platform FungyProof Rebrands to Skry

The first-of-its-kind NFT ratings platform, FungyProof, has rebranded to Skry. The rebrand aligns their name with their expanded product vision. Skry aims to be the "Moodys of NFTs" by providing its users with NFT ratings.

According to a Chainalysis report at the end of 2021, 5% of NFT traders received 80% of the profits generated on NFT marketplace OpenSea. To overcome this problem, the web3 ecosystem desperately needs ratings infrastructure. Ratings are abundant in traditional markets, from the Big Three (Moodys, Fitch, S&P) to consumer star reviews. Ratings improve issuer accountability, reduce information asymmetry.

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