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Sony and Astar Network Launch Web3 Incubation Program for NFT and DAO-Focused Projects

Sony and Astar Network Launch Web3 Incubation Program for NFT and DAO-Focused ProjectsOn Feb. 17, 2023, Tokyo-based Sony Network Communications announced that it is co-hosting a Web3 incubation program with the multichain smart contract platform Astar Network. The program has started accepting applications, and Sony and Astar will jointly mentor Web3 projects “focused on the utility” of non-fungible tokens (NFTs) and decentralized autonomous organizations (DAOs). Sony and […]

Crypto ATM Numbers Approach Record High: A Steady Recovery After Industry Shocks

YouTube appoints Web3-friendly exec as new CEO

YouTube’s new CEO Neal Mohan previously emphasized that NFTs could be an important tool for the platform’s content creators to develop additional revenue streams.

Google-owned YouTube has appointed Web3-friendly exec Neal Mohan as its new CEO following the departure of Susan Wojcicki this week.

Wojcicki stepped down from YouTube on Feb. 16 after nine years at the helm, outlining plans to start a “new chapter” focused on family, health and personal projects. During her tenure, she oversaw the pivotal introduction of the revenue-sharing model, among other things.

Moving forward she will remain an advisor for Google’s parent company Alphabet Inc.

Before becoming the new CEO, Mohan served as YouTube’s chief product officer and oversaw the controversial removal of the video dislike button, the introduction of YouTube Shorts to compete with Tik Tok, and YouTube Music.

In terms of Web3, Mohan outlined tentative plans in February 2022 to integrate a host of new features such as Metaverse-based content experiences and content tokenization via nonfungible tokens (NFTs), much to the dismay of the NFT-hating community at the time.

In particular, Mohan emphasized that NFTs could provide a new way for creators to engage with their audiences and develop additional revenue streams. He cited the potential for creators to tokenize their videos, photos, art and experiences as examples of such.

“Web3 also opens up new opportunities for creators. We believe new technologies like blockchain and NFTs can allow creators to build deeper relationships with their fans. Together, they’ll be able to collaborate on new projects and make money in ways not previously possible,” he wrote in a blog post on Feb. 10, 2022.

Related: Crypto Stories: How Altcoin Daily built a platform for millions of crypto enthusiasts

Despite being intended to potentially roll out last year, the Web 3-related plans are yet to materialize but could be set for another push in the near future given that Mohan is now leading the firm.

Following the news of Mohan becoming the new CEO of YouTube, there has been a surprisingly limited amount of FUD from the feisty NFT skeptics on Twitter who are usually quick to flame anything to do with reports of mainstream connections to the tech.

Crypto ATM Numbers Approach Record High: A Steady Recovery After Industry Shocks

Colombian Court Holds Hearing in the Metaverse

Colombian Court Holds Hearing in the MetaverseColombian courts held one of the first judicial hearings using metaverse tech. María Victoria Quiñones Triana, the magistrate of the Magdalena court, approved the realization of this hearing, using Horizon Worlds technology provided by Meta and virtual avatars to represent participants in the process. Colombian Court Holds Metaversal Judicial Hearings A Colombian court has ostensibly […]

Crypto ATM Numbers Approach Record High: A Steady Recovery After Industry Shocks

Only 4% of Companies in Spain Have Moved to Offer Services in the Metaverse

Only 4% of Companies in Spain Have Moved to Offer Services in the MetaverseOnly 4% of the companies in Spain have managed to apply the metaverse to their operations, according to a survey conducted by ISDI, a national business school. 40% of the business managers surveyed have admitted that it is difficult for them to bring parts of their business to the metaverse in a significant way. Metaverse […]

Crypto ATM Numbers Approach Record High: A Steady Recovery After Industry Shocks

Income Movement Rightfulshare Says It Has Launched ‘First Unconditional’ Crypto UBI in South Africa

Income Movement Rightfulshare Says It Has Launched ‘First Unconditional’ Crypto UBI in South AfricaRightfulshare, an income equality advocacy movement, recently said it has launched what it describes as the “first unconditional” crypto universal basic income (UBI) transfer. According to Karen Jooste, the crypto UBI not only expands the possibilities for unemployed South Africans but also nurtures their entrepreneurial spirit. Fairer Income Access Rightfulshare, a movement advocating for equality, […]

Crypto ATM Numbers Approach Record High: A Steady Recovery After Industry Shocks

The ethics of the metaverse: Privacy, ownership and control

As the metaverse continues to grow and evolve, it is essential that we consider and address the ethical questions and challenges it raises.

The metaverse, a virtual environment that simulates reality, offers complex moral dilemmas regarding privacy, ownership and control. These consist of:

  • Privacy: Who has access to and how is personal information used within the metaverse?
  • Ownership: Who owns the digital assets and real estate in the metaverse, and what rights do they have over it?
  • Control: Who oversee activities in the metaverse, and what rules and regulations will be implemented to guarantee fair use and equal treatment for all participants?

These are crucial issues to think about as the metaverse expands and is utilized more frequently, and they will probably have a big impact on how this new digital frontier develops in the future. For the metaverse to be a secure and equitable space for everyone, these ethical issues must be addressed.

Privacy problems in the metaverse

The growth of the metaverse has brought about numerous privacy concerns that need to be addressed. Some of the most pressing issues include:

  • Data gathering and use: Businesses operating within the metaverse may gather a lot of user-provided personal data, which raises concerns about how that information will be used and who will have access to it.
  • Lack of control over personal information: Users’ ability to manage their personal data within the metaverse may be limited, raising worries about possible abuse of that data.
  • Tracking and monitoring: There might not be enough information available regarding how user activity in the metaverse is kept track of and who has access to that data.
  • Data security: The metaverse could be subject to cyberattacks that lead to the loss or theft of sensitive personal data.
  • Privacy vs. pseudonymity: While many users may prefer to use pseudonyms within the metaverse, this can also create privacy concerns if their real-world identities can be linked to their virtual ones.

Related: What is decentralized identity in blockchain?

Ownership issues in the metaverse

Ownership issues in the metaverse refer to questions and challenges related to the control and usage rights of digital assets and property within these digital environments. Some of the key ownership issues in the metaverse include:

  • Intellectual property rights: The metaverse involves the creation and distribution of a vast amount of digital content, such as virtual clothing, accessories and digital art. This has raised questions about who owns the rights to this content and how it can be protected.
  • Virtual property rights: Individuals in virtual worlds have the right to own virtual property, including buildings, land and enterprises. The extent to which virtual property can be purchased, sold and controlled is a topic of continuous discussion.
  • Jurisdiction: In cases involving virtual property and intellectual property rights, it can be difficult to decide what laws should be applied because the metaverse is spread out across many different nations and territories.
  • Contractual issues: The metaverse also raises concerns about the enforceability of agreements signed between people for the sale and transfer of goods.

Related: How are metaverse assets taxed?

Control-related problems in the metaverse

In the metaverse, control issues refer to questions and challenges related to the regulation, governance and administration of virtual environments and their interactions with the physical world. Some of the key control-related issues in the metaverse include:

  • Content control: People can create, distribute and consume a variety of digital content in virtual worlds, including user-generated content. There are continuing discussions about how much regulation should be placed on virtual worlds and what kinds of information should be permitted or outlawed.
  • Economic control: Digital currencies and online marketplaces are only a couple of the complex and quickly changing economic systems found in the metaverse. Concerns exist over the reliability and fairness of these systems, as well as the roles played by the public and private sectors in their regulation and administration.
  • Political control: Virtual environments are increasingly being used as platforms for political expression, activism and organizing. This has raised questions about the extent to which virtual environments should be subject to political regulation and control, as well as the implications of such regulation for freedom of speech and democracy.

How to protect yourself in the metaverse

To protect yourself in the metaverse, it’s important to be aware of the risks and challenges that come with virtual environments. Some steps you can take include being cautious about the information you share online, using strong passwords and two-factor authentication, being mindful of phishing scams and malicious software, and regularly reviewing the privacy settings on your virtual accounts. Additionally, it’s important to be aware of the terms of service and community guidelines for each virtual environment you use and to follow them closely.

Finally, it is vital to be mindful of your interactions with others in virtual environments and to be aware of the potential for online harassment and cyberbullying. By being proactive and taking steps to protect one’s privacy and security, one can enjoy the many benefits of the metaverse while minimizing exposure to potential risks.

Crypto ATM Numbers Approach Record High: A Steady Recovery After Industry Shocks

Meta Reportedly Preparing for a New Round of Layoffs

Meta Reportedly Preparing for a New Round of LayoffsMeta, the company that owns Whatsapp, Instagram, and Facebook, is reportedly preparing to announce a new round of layoffs in the coming days. According to reports, the company is delaying the finalization of the budget for each one of its teams, causing operational delays and affecting the output of employees of the company. Meta to […]

Crypto ATM Numbers Approach Record High: A Steady Recovery After Industry Shocks

Microsoft Reportedly Shutting Down Industrial Metaverse Focused Group

Microsoft Reportedly Shutting Down Industrial Metaverse Focused GroupSoftware giant Microsoft is shutting down one of its most significant groups dedicated to the development and promotion of the industrial metaverse. According to reports, the company terminated its whole Industrial Metaverse Core group, which was composed of 100 employees, as part of the 10,000-person layoff rounds announced in January. Microsoft Reportedly Terminating Industrial Metaverse […]

Crypto ATM Numbers Approach Record High: A Steady Recovery After Industry Shocks

Nifty News: Find love in Paris Hilton’s metaverse, BTC CryptoPunks soar and more

The “Parisland” metaverse experience will launch in time for Valentine's Day to give budding lovebugs a space to meet, at least virtually.

Swiping right in the metaverse

Famous New York socialite, Paris Hilton thinks the Metaverse may be the perfect place to find one’s true love.

In a Feb. 9 tweet, the celebrity and reality TV star said she will be working with The Sandbox (SAND) to bring “Parisland” to life.

The idea is essentially a Virtual Reality (VR) dating experience crossed with a reality dating show and is slated for a Feb. 13 release in time for Valentine’s Day.

According to a Feb. 9 statement, players will participate in an “in-game dating reality show” hosted by Hilton, where they will virtually meet with five potential lovers.

The experience will run until Mar. 13 and players will also complete quests to win nonfungible tokens (NFTs) or SAND prizes and memorabilia.

Such quests include choosing a wedding outfit and ring along with “rescuing a castaway, and flirting with other contestants.”

Nothing shows true love to someone you just met online like NFT “interlaced love rings.” Image: Parisland

Once players complete all the quests and find the love of their life they’ll have a virtual wedding and Hilton herself will spin the decks for their first dance together.

The event is hosted in conjunction with the Hilton-founded entertainment firm 11:11 Media. The company’s Web3 and metaverse strategy lead, Cynthia Miller, said it was on “a mission to help people find love” with the experience.

Ordinals CryptoPunk knockoffs make bank

Bitcoin (BTC) NFTs enabled by the Ordinals protocol have caused quite a stir in the community, but that hasn't been enough to stop some from paying thousands of dollars for select collections.

A knockoff of the Ethereum-based CryptoPunks NFT collection has made its way onto BTC called Ordinal Punks which currently has a total supply of 100 according to the project's website.

According to a price feed in the projects Discord, on Feb. 8 Punk 94 sold for 9.5 BTC or around $215,000 at the time.

So far, its the most someone has paid for a BTC-clone Punk from the collection and it’s around double the price of the last sold CryptoPunk from the original Ethereum collection — which sold for 70 Ether (ETH), or $110,000 according to OpenSea data.

Screenshot from the Ordinal Punks Discord showing sales from between 9.5 to 4 BTC in the past 48 hours.

Other sales from the past 48 hours show one Ordinal Punk selling for 6 BTC, around $130,000 and others selling for around 4.5 BTC, or around $100,000.

It’s a significant price jump from the end of last week, where some Ordinal Punks sold for as low as 0.07 BTC ($2,200) on Feb. 2 according to sale data.

RhiRhi’s royalties sell out through NFTs

Royalty rights from Rhianna’s hit 2015 song Bitch Better Have My Money has just been put up for offer as part of a collection of 300 NFTs.

Jamil “Deputy” Pierre was one of the song's producers who has now sold roughly 1% of his stake in streaming royalties through 300 NFTs that give the holder a 0.0033% lifetime share in royalties for the record when it’s streamed digitally on platforms like Spotify.

The collection, sold by Deputy in partnership with music royalty NFT platform anotherblock, was put up on Feb. 9 for 0.128 ETH each, or roughly $210.

The same day, anotherblock tweeted the collection had sold out “in a few minutes.”

anotherblock predicts one NFT to give a “probable” first-year return of 6.5%, which would yield $13.65 a year. At that rate, it would take a holder about 15 years to break even on their investment.

It’s unclear how much royalty share in the song Deputy has retained after the NFT sale.

Def Jam launches virtual band with Solana NFT collection

Def Jam Recordings, a subsidiary record label of Universal Music Group is trying its hand at building a Web3-native band through a partnership with the Solana (SOL) NFT collection, The Catalina Whale Mixer.

Announced through a Feb. 8 Billboard report, the band, called “The Whales” will be comprised of the cartoon whale characters that make up the collection similar to the virtual band the Gorillaz.

Catalina Whales later revealed in a tweet that the band would be a “gamified music group” and holders of an NFT in the collection could “land a role for [their] whale.”

The musicians behind the project are yet to be confirmed by Def Jam but it reportedly said it will involve a “who’s who” of talent and The Whales will release a full-length album but did not disclose a timeline.

Def Jam boasts signed artists such as Justin Beiber, LL Cool J, Rihanna and Nas.

In 2021 another universal subsidiary label, 10:22PM, signed a similar NFT-backed virtual band called KINGSHIP made up of four apes from the Bored Ape Yacht Club (BAYC) NFT collection.

Other Nifty News:

Luxury fashion brand Hermès won a trademark infringement case against NFT artist Mason Rothschild over his use of the Birkin trademark for his MetaBirkins NFT collection. The firm was awarded $133,000 in damages.

YouTuber Stephen Findeisen, better known as Coffeezilla, baited mixed martial artist, Dillon Danis, into promoting a fake NFT collection which according to Findeisen “literally spells out S.C.A.M.”

Crypto ATM Numbers Approach Record High: A Steady Recovery After Industry Shocks

One Metaverse Altcoin Seeing Increased Attention As Massive Whale Transfer Hits Binance: Santiment

One Metaverse Altcoin Seeing Increased Attention As Massive Whale Transfer Hits Binance: Santiment

Blockchain analytics firm Santiment says metaverse altcoin The Sandbox (SAND) is attracting more attention after whales moved massive amounts of the token to Binance. According to Santiment, interest in The Sandbox is rising after three addresses moved 78 million SAND tokens valued at $56 million to the world’s largest crypto exchange. The transactions caught the […]

The post One Metaverse Altcoin Seeing Increased Attention As Massive Whale Transfer Hits Binance: Santiment appeared first on The Daily Hodl.

Crypto ATM Numbers Approach Record High: A Steady Recovery After Industry Shocks