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2022-09-16 12:47:02 Magic Eden defends launch of NFT royalty enforcement tool

Solana-based nonfungible token (NFT) marketplace Magic Eden has fended off some community backlash following the launch of MetaShield, its new enforcement tool aimed at deterring NFT buyers who bypass creator royalties. MetaShield, which was reportedly launched in partnership with NFT marketplace and aggregator Coral Cube saw mixed reactions from the NFT.

The NFT royalty enforcement tool is designed to allow NFT creators to flag and blur NFTs that may have been sold that managed to bypass creator royalties. The new tool came only a few weeks after NFT marketplace X2Y2 introduced a new feature that affords buyers with the discretion to decide whether they pay a royalty fee — and, if so, how much — when buying an NFT. Magic Eden cleared the air in its most recent thread, noting that it launched MetaShield in order to protect creators, rather than punish buyers.

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2022-09-15 09:13:02 MoMA to Sell $70 Million Art Collection, May Use Proceeds to Buy Digital Art and NFTs

The William S. Paley Foundation will auction off at least $70 million in art masterpieces this fall to expand the digital footprint of the Museum of Modern Art (MoMA) in New York and possibly acquire the museum’s first NFTs. MoMA has been caring for William S. Paley’s collection since the CBS co-founder died in 1990.

Paley’s namesake foundation, which holds endowment funds for museums and educational and cultural programs, has enlisted Sotheby’s to auction 29 of the MoMA collection’s 81 pieces. Proceeds from the sale will be used to expand the museum’s digital presence. According to MoMA director Glenn Lowry in the Wall Street Journal, the museum has outlined several possibilities for the money.

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2022-09-14 07:38:02 South Korea sentences metaverse sexual abuser to 4 years imprisonment

South Korean authorities have sentenced a man to four years in prison for collecting sexual content of underaged victims he met on the metaverse, South Korea-based MoneyS reported on Sept. 11. According to the report, the 30-year-old man met minors via a South Korean metaverse platform and induced them with gifts to send their videos and images.

The unnamed man committed his criminal activities by lying about his age and using a young person’s avatar. His activities spanned between December 2021 and March 2022. Besides the four-year prison term, the man was also banned from working in any entity involving minors and the disabled. He must also attend a mandatory treatment program for sexual offenders for 80 hours. The sentencing was mostly for targeting and sexually exploiting minors as he did not distribute the content or make a profit from it.

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2022-09-13 14:41:02 DraftKings announces Steve Aoki as NFT brand ambassador

Aoki will promote the digital marketplace, with a particular focus on DraftKings Reignmakers franchise, a series where users buy and trade NFT player cards to be used in fantasy sports-style contests, where players compete against each other for cash prizes. Aoki will cooperate on and promote digital collectibles in the DraftKings Marketplace, with Aoki’s first group of products, Aoki 2022 All-Star Access Pass, set to be released on 14 September.

DraftKings co-founder Matt Kalish commented on the announcement: “Steve Aoki is globally recognized for his contributions to the music industry and more recently, for his involvement with digital collectibles. I am excited to welcome him to the DraftKings family.”.“Having him on board will provide us with a refreshing perspective for future, community-driven projects, and I look forward to bringing new experiences to our customers and to Steve’s fans.”.

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2022-09-12 15:04:02 Data privacy in the contours of the virtual world: Complexities of the metaverse

Stepping towards a digital revolution, the ‘metaverse’ brings a new world into existence through augmented or virtual reality technology. It creates a unique virtual experience for users to immerse themselves in the digital world through a myriad of services like virtual gaming, digital asset creation, real-time virtual markets, etc.

In this world of virtual realism, data fuels the eco-system as real-time data from the users (user behaviour and preferences, physiological responses, etc.) is collected to enable this experience. Since metaverse seeks to create this one-of-a-kind immersive digital world or virtual experience, processing of users’ data will be at the forefront to facilitate a seamless experience. Metaverse’s extended reality aims to merge the boundaries of the physical world and digital world through data collection.

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2022-09-11 13:50:01 NFT Tech Enters the $7.8B Loyalty and Reward Market, Pioneering New Technology

The global loyalty market is valued at USD 7.8 billion, and NFT Tech is poised to use NFTs to fuel the future of loyalty programs. Loyalty programs come in many forms, and as brands look for ways to further engage with customers and fans, loyalty programs are set to expand at a compound annual growth rate (CAGR) of 10.5% from 2022 to 2030.

Despite their popularity, the loyalty programs of today have many challenges and problems. Customers are sick of carrying multiple reward cards in their wallets, and are questioning the use of their personal data and the real benefits of these programs. In fact, KPMG has found that 38% of people reported a problem with a loyalty program in the past six months. To address these issues, NFTs can fuel the future of loyalty programs. NFT use cases in the loyalty and reward industry include:

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2022-09-10 09:14:02 ApeCoin Leads NFT, Metaverse Token Rally With Double-Digit Gains

ApeCoin (APE), the Ethereum-based token of the Bored Ape Yacht Club ecosystem, is up 15.7% over the past 24 hours and is currently changing hands at a two-week high of $5.19, according to CoinMarketCap. While APE’s recent price action can be seen as a part of a broader market recovery that took the price of Bitcoin above $20,000.

More specifically, the Ape Foundation recently outlined its recommendations for a new election process for the project's decentralized autonomous organization (DAO). The Ape Foundation current members are Alexis Ohanian, the Reddit co-founder, Amy Wu of FTX Ventures, Maaria Bajwa, Principal at Sound Ventures, Yat Siu, chairman of Animoca Brands, and Dean Steinbeck, president at Horizen Labs. Community members, however, have long been calling for more representation.

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2022-09-09 15:32:02 ‘She Will’ Director Launches NFT in Support of End Violence Against Women

Artist and filmmaker Charlotte Colbert is launching a 1-of-1 NFT based on her horror film “She Will,” with the proceeds of the sale going to support the charity End Violence Against Women. The NFT, titled "Why are we taught to fear the witches?" depicts the film’s star Alice Krige in a short video that draws on the film's folk-horror aesthetic.

In the psychological horror film, Krige plays former film star Veronica Ghent, who visits a healing retreat in Scotland to recover from a double mastectomy. While there, she’s haunted by visions of witches who were burnt on the site centuries earlier and receives the power to exact revenge for past traumas within her dreams. Colbert’s NFT is launching as part of Goddess, an NFT show by online gallery Eye of the Huntress in collaboration with NFT marketplace SuperRare. The show presents the work of nine female artists from around the world,

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2022-09-08 10:50:03 AMBUSH Announces Limited-Edition Wearable NFT With OP3N and Avalanche

On September 1, the quintessential Tokyo label AMBUSH announced its latest Metaverse venture titled "A3," in collaboration with OP3N, a launchpad for IP and communities in Web3, and the Avalanche Foundation's Culture Catalyst — a $100 million USD fund promoting arts and entertainment projects on the Avax ecosystem.

In a bid to continue Yoon Ahn's efforts to innovate within the Metaverse paradigm, the cutting-edge brand is introducing a new border-defying NFT that explores a phygital offering. Launching on September 12, a total of 2,023 "A3" NFTs will be available to mint, with AMBUSH POW! REBOOT and POW! GITD NFT holders being prioritised on the "A3" purchase allowlist. The "A3" NFT collectors will receive a limited-edition necklace of AMBUSH's iconic lighter case in a red chrome hue.

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2022-09-07 15:09:02 Renault Inks Partnership With The Sandbox to Bring Automotive Experiences to the Metaverse

The Korean subsidiary of Renault, a historic brand in the automotive industry, is establishing a partnership with The Sandbox, an Ethereum-based metaverse platform, to enter the metaverse space. With this partnership, Renault Korea’s objective is to establish its brand presence in the metaverse and to present Renault-based virtual automotive experiences to customers.

Renault, one of the biggest automotive companies in the world, has signed a partnership with The Sandbox to be present in its virtual metaverse world. The Korean subsidiary of the organization will be responsible for this, establishing the brand presence in the space through a series of automotive-related activities to introduce virtual customers to the products of the company. These automotive experiences aim to enrich The Sandbox platform and allow Renault to reach a more ample audience.

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