Tom Brady

Tom Brady roasted on crypto in Netflix special — ‘How did you fall for that?’

May 7, 2024 Coin Telegraph

FTX Founder Bankman-Fried Agrees to Settlement, Aids Legal Action Against Celebrities

April 21, 2024 Bitcoin.com

Nifty News: Sega exec calls P2E games ‘boring,’ Tom Brady’s NFT firm switches it up and more

July 7, 2023 Coin Telegraph

Autograph

Sega is still reportedly licensing its lesser-known properties out for NFTs and blockchain games, but its best ones are being kept close.

Sega co-COO yawns at P2E games

The co-chief operating officer of Sega has called play-to-earn games “boring” amid the firm’s retreat from franchising some of its hottest properties to the blockchain gaming space.

Bloomberg reported on July 6 that Shuji Utsumi, the co-COO of the gaming company behind Sonic The Hedgehog, said Sega would shelve plans to develop blockchain games for now.

Third-party blockchain gaming projects would also not get access to Sega’s biggest franchises, with Utsumi adding:

“The action in play-to-earn games is boring, what’s the point if games are no fun?”

However, some of the less-known Sega titles will still get licensed for runs in nonfungible token (NFT) collections, its lesser franchises are getting blockchain games slated for announcements later this year and Sega is still pumping millions into related projects.

Breaking: Via @bloomberg, SEGA Co-COO Shuji Utsumi has confirmed that SEGA’s biggest IPs, Sonic will not use blockchain, to avoid devaluing them. #SonicNews

They were non-committal on using Web3 for their fabled “super game.”

Source: https://t.co/fgeVTRYHdB
— Sonic Stadium ✪ Sonic the Hedgehog Community (@sonicstadium) July 7, 2023

It's up in the air if the “super game” touted by Sega for the last year — set for launch in 2026 — will still involve Web3 tech.

Utsumi believed the tech is useful for such cases as moving in-game items between gaming titles but Sega may hang back until the tech sees wider use.

“We’re looking into whether this technology is really going to take off in this industry, after all,” Utsumi said.

Tom Brady’s NFT co. breaks up with NFTs

Professional American football star Tom Brady is reportedly switching up the strategy for his NFT-focused startup Autograph — which is now moving away from NFTs.

On July 6 The New York Times reported Autograph’s marketing has quietly removed crypto language, downplays terms such as NFT and has shifted focus away from marketing them with a new focus on helping stars generally spin up loyalty with their fans, according to people with knowledge of the firm.

Brady co-founded the company in 2021 with the aim of helping celebrities sell NFTs, scoring a $170 million Series B in January 2022 and lining up NFT deals with ESPN, the pro golfing organization the PGA Tour and others.

Autograph’s revenue supposedly tanked in 2022 in line with the wider crypto market, according to a person familiar with the firm's finances.

Brady’s reputation in crypto has suffered due to his ties with the now-bankrupt crypto exchange FTX. He’s also named in a class action lawsuit aimed at alleged celebrity promotors of the exchange.

No need for Euro Metaverse regulations…yet: EU competition chief

Metaverses and those who create them won’t need to worry about specific regulations — at least not yet in the European Union (EU).

Reuters reported on June 6 that EU competition commissioner Margrethe Vestager said there haven’t been any concerns triggered over the space even though Tech Giants Microsoft, Meta and now Apple have together poured billions into trying to corner the nascent sector.

The big spending by a small concentration of companies in a new market raises no competition concerns for Vestager:

"Actually we see that there is a lot of innovation when it comes to virtual worlds. I don't think that any company can claim that they will own it, so to speak, but that is what we hope to find out."

Existing EU laws around market monopolies, privacy and the incoming rules on artificial intelligence can also be applied to the Metaverse according to Vestager.

#Alphabet #Amazon #Apple #ByteDance #Meta #Microsoft #Samsung

⬆️the #platforms that notified us under the #DMA
If confirmed as gatekeepers, they will need to comply with #DMA keep markets fair & open, for us to have wide and affordable choices online

https://t.co/0tqmE02r1u pic.twitter.com/h4wn3mUGKc
— Margrethe Vestager (@vestager) July 4, 2023

"In Europe, now we have a body of digital legislation, she added. “I think we do have time to explore, to know that we should not jump to regulation as the first sort of safety pad."

She said next week she will present a metaverse-related initiative aimed at helping antitrust regulators understand the space.

Major League Baseball gets new virtual ballpark

U.S. professional baseball is getting a stadium in the Metaverse, apparently, the first professional league to own a virtual world for fans to gather in.

On July 5, metaverse tech firm Improbable announced the new virtual space, giving it the inventive title of “MLB virtual ballpark.”

The virtual stadium was developed within Improbable’s “MSquared” network of interoperable Web3 metaverses. Improbable also helped NFT conglomerate Yuga Labs build its Otherside metaverse.

⚾️ Announcing the launch of the all-new @MLB virtual ballpark. ( 1/7)

The #MLB virtual ballpark will allow fans to gather and interact simultaneously in a single place, making it the 1st service to host such large interactive sports experiences. pic.twitter.com/dA9v0iXiAI
— Improbable (@Improbableio) July 5, 2023

MLB’s executive VP of media and business development, Kenny Gersh, said “not everyone has the opportunity to attend Major League games” but now that’s been opened “to anyone with an internet connection.”

Improbable founder and CEO, Herman Narula, believed the tech could help with “creating and selling [...] Digital assets.” The League has an existing partnership with the NFT platform Candy Digital.

Other Nifty News

NFT royalties on Ethereum are at a two-year low according to data shared with Cointelegraph by analytics firm Nansen. The royalty drop comes as the floor price of Yuga’s flagship Bored Ape Yacht Club (BAYC) NFTs are also hitting a dip.

Animoca Brands co-founder Yat Siu told Cointelegraph the firm is optimistic about the blockchain gaming sector and said it’s looking for a license before putting its $800 million metaverse fund to work.

NFT Collector: Snoop’s NFT nostalgia, The Goose draws Gen Y to Sotheby’s

FTX Lawsuit Against Shaq Takes a Wild Turn: Court Documents Allegedly Thrown at NBA Star’s Car

May 10, 2023 Bitcoin.com

FTX victims’ lawyers struggle to serve Shaquille O’Neal

April 16, 2023 Coin Telegraph

Beth Shaw

The Moskowitz law firm has been standing outside NBA superstar Shaquille O'Neal's studio all week to "hand deliver" their legal complaint with no success, according to a recent statement.

The law firm representing victims affected by the FTX collapse has made a public plea to NBA superstar Shaquille O’Neal, asking him to show “courtesy and honor” by actually acknowledging their legal complaint after several unsuccessful attempts.

In an April 14 tweet, The Moskowitz Law Firm revealed its team have been standing outside O’Neal’s TNT studios in Atlanta “all week” to serve him on behalf of FTX investors, in regard to his previous endorsement of the now-defunct crypto exchange.

However, it was noted that O'Neal's security guards have not let them in.

You’ve been running from us for 3 months & all other FTX celebrities have agreed to receive their complaints. Please have the courtesy & honor to simply allow our process servers tomorrow to deliver our legal complaint on your behalf, so you can defend your actions in this matter
— The Moskowitz Law Firm (@moskowitzesq) April 14, 2023

It was emphasized that O’Neal is the only one among the “FTX celebrities” – referring to the class action lawsuit filed against several celebrities for endorsing FTX, including Tom Brady, Steph Curry and Larry David – who has not yet been served.

The law firm stated that O’Neal has been "running" from them "for 3 months" and should show the courtesy and honor by allowing their process servers to deliver the legal complaint on his behalf, so he can defend his "actions in this matter."

This comes after an April 7 court filing stated that numerous attempts have been made in various locations to serve O’Neal, but all have been unsuccessful. The filing stated:

“Mr. O’Neal is the sole remaining defendant in this matter who has still not been served. Despite Plaintiffs’ dozens of attempts in multiple states and countries, to either effect service on him or have him (or a designated agent) accept service of process.”

According to the court filing, the legal courier in Texas received a threatening message after making the "eighth most recent attempt" to serve O’Neal at his Texas residence.

The message mentioned the process server's wife, Beth Shaw, stating, “shaq lives in the Bahamas u stupid fuck give beth shaw my regards.”

*Source: Case No. 1:22-cv-23753-KMM : dgmagstatic.com*

The plaintiffs further stated that it is “finally time” to start attempting to contact O’Neal via other means, such as “direct messages to his verified social media accounts," according to the court filing.

This comes after it was reported on March 9 that U.S. District judge Kevin Moore is considering dismissing both O'Neal and tennis athlete Naomi Osaki from the lawsuit, after pointing out that it is unclear whether the two had been served.

A paperless order was issued by Moore, giving FTX customers until December to provide justification on why both stars should be included in the lawsuit.

Magazine: Can you trust crypto exchanges after the collapse of FTX?

Tom Brady’s Estranged Wife Gisele Bundchen Claims FTX Collapse ‘Blindsided’ Her

March 25, 2023 Bitcoin.com

FTX customers are safe from being doxxed, for now

January 12, 2023 Coin Telegraph

Bankruptcy Code

The decision comes after a Jan. 8 filing by FTX’s lawyers, who argued that public disclosure could create an undue risk of identity theft or unlawful injury to FTX creditors.

The names of up to nine million FTX customers are set to remain confidential for at least three more months following the latest ruling in FTX bankruptcy proceedings.

The decision was reportedly made by Judge John Dorsey in the Delaware-based bankruptcy court on Jan. 11 in response to a 168-page filing by FTX on Jan. 8, which requested the court to withhold confidential customer information.

Judge Dorsey said that he remains “reluctant at this point” to disclose the confidential information, as it may put creditors “at risk,” despite increased pressure from several media outlets:

“We’re talking about individuals here who are not present – individuals who may be at risk if their name and information is disclosed.”

Days earlier, FTX lawyers argued “that disclosure of the information would create an undue risk of identity theft or unlawful injury to the individual or the individual’s property” and that the court should use its “broad discretion” under the U.S. Bankruptcy Code to protect those affected by FTX’s collapse.

In late December, a group of non-U.S. FTX customers also pushed the Delaware bankruptcy court to keep customer information private, arguing in a Dec. 28 joinder filing that public disclosure would cause “irreparable harm.”

Judge Dorsey’s decision does however run contrary to most bankruptcy proceedings where creditor information is disclosed — which is what happened in cryptocurrency lender Celsius’ bankruptcy proceedings in October.

The Delaware-based bankruptcy court hasn’t been as kind to FTX equity holders, having released a Jan. 9 document that disclosed the investors expected to be wiped out and the number of shares they held with FTX.

Among those included NFL legend and former FTX brand ambassador Tom Brady, his ex-wife Gisele Bündchen, tech entrepreneur Peter Thiel and Shark Tank investor Kevin O’Leary.

It appears that progress is being made though, with FTX reported to have already recovered $5 billion in cash and cryptocurrency, FTX attorney Andy Dietderich said in a Jan. 11 statement.

According to early bankruptcy filings in November, more than 1 million creditors were speculated to be involved, with $3 billion being owed to the 50 largest creditors alone.

Celebs who got burned endorsing crypto and those that got away with it

January 4, 2023 Coin Telegraph

Coin Telegraph

Screen actors and sports stars copped most of the backlash for 2022’s crypto endorsements, while soccer legends appear to have gotten away with it.

Celebrities had a shaky year promoting crypto firms and projects throughout 2022.

Many found themselves named in lawsuits over their alleged promotion of since-failed projects, while others have been relentlessly mocked on social media for their involvement in the first place.

From movie stars to television actors, sports stars to musicians, many celebrities may be regretting their endorsement deals last year, though that’s not to say that there haven’t been exceptions.

Who got burned?

In February last year, American comedian Larry David, who co-created the television series Seinfeld, appeared in a Super Bowl commercial for now-defunct crypto exchange FTX that encouraged users not to “miss out on the next big thing.”

David has since been named in a class-action lawsuit that alleges that he, along with other celebrities, had promoted FTX to unsophisticated investors without performing any due diligence on the exchange.

He’s also being investigated by the Texas State Securities Board regard payments received by FTX for his endorsements, among other celebrities.

Meanwhile, the movie star known for his role in the “Bourne Identity” film series, Matt Damon, has continued to be mocked for his part in the $100 million promotional campaign for Crypto.com.

Damon was even satirized by the animated series South Park in the season 25 premiere in February 2022.

If you bought $1,000 of bitcoin the day Matt Damon's "Fortune favors the brave!" commercial came out, it would now be worth $375 pic.twitter.com/rp5IdjBD3m
— Jon Schwarz (@schwarz) June 13, 2022

In the sporting world, Japanese tennis player Naomi Osaka signed on to be an ambassador for FTX on March 21.

Like Seinfield’s co-creator, Osaka is also named in a lawsuit along with other high-profile celebrities who endorsed FTX including basketball legends Shaquille O’Neal and Stephen Curry, and NFL quarterback Tom Brady.

Professional boxer Floyd Mayweather was also named in a crypto promotion lawsuit in 2022 over his alleged promotion of EthereumMax, though the lawsuit was eventually dismissed by a federal judge in December.

**Click “Collect” below the illustration at the top of the page or** **follow this link**.

In the world of music, American rapper and hip hop artist Snoop Dogg has been named in a class action lawsuit for allegedly promoting Bored Ape Yacht Club nonfungible tokens (NFTs), along with other musicians including Madonna, Justin Bieber, Post Malone and DJ Khaled.

The lawsuit names over 40 people and companies as defendants, also including Tennis professional Serena Williams, actress Gwyneth Paltrow and comedians Jimmy Fallon and Kevin Hart.

Who got away with it

Interestingly, not all celebrity endorsements of crypto firms have been viewed in a negative light, nor have they attracted the scrutiny of class-action lawyers.

On Jun. 30, 2022, Binance announced it had snapped up the popular TikTok personality, Khaby Lame, as an ambassador.

The deal was seen as positive for the crypto sector, as Lame’s ambassador deal is part of Binance’s mission to increase Web3 awareness and adoption around the world.

Musician DJ Steve Aoki jumped into the NFT world with fantasy sports and sports betting operator DraftKings announcing the hitmaker as the brand ambassador for its NFT market.

American rapper Eminem performed alongside Snoop Dogg during the VMA’s to perform their NFT track "From The D 2 The LCD" featuring Otherside and Bored Ape NFTs.

In the sporting world, David Beckham became the global ambassador for blockchain company DigitalBits, launching his own range of NFTs in the process.

He appears to have avoided any accusations of wrongdoing despite the founders of DigitalBits being accused in an investor lawsuit for “diverting money needed for development” to expensive sports deals and luxury travel, according to a January 2022 report from The New York Times.

Meanwhile, legendary soccer player Lionel Messi has done deals with Singapore-based Bitget, fantasy sports platform Sorare and digital fan token company Socios.com.

Cristiano Ronaldo's foray into crypto sponsorship also appears to have gone down well in the community, working with Binance for the launch of an exclusive NFT collection allowing collectors the chance to receive perks including a personal message from Ronaldo and signed merchandise.

Report: FTX Execs Offered Taylor Swift $100M to Endorse the Exchange, Source Says Singer Never Considered the Deal

December 7, 2022 Bitcoin.com

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