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Damian Williams, United States Attorney for the Southern District of New York, has petitioned the court to delay civil proceedings against former FTX chief executive officer Sam Bankman-Fried “until the conclusion of the parallel criminal case”.In Feb. 7 filings, Williams requested that the court issue an order staying civil proceedings as well as discovery from the U.S. Securities and Exchange Commission and Commodity Futures Trading Commission against Bankman-Fried until after his criminal case, scheduled to go to trial in October. According to Williams, the criminal case against Bankman-Fried was “likely to have a significant impact” on the SEC and CFTC…

NFT After several days of deliberation, the nine-person jury in the trial between French luxury brand Hèrmes and non-fungible token (NFT) artist Mason Rothschild reached a verdict on Feb. 8, 2023. Hermès has won the lawsuit against Rothschild’s Metabirkins NFT collection. The jury awarded $133,000 in damages to Hermès. The case sets an important precedent for NFT creators and builds the framework for intellectual property (IP) law as it relates to digital creations. Down the line, creators like Rothschild might be more careful creating NFTs with other brands’ IP to avoid future trademark lawsuits. David Leichtman, Leichtman Law managing partner,…

Is the NFT market officially booming in 2023? Here are the top 10 blue-chip NFTs you must hold this year.While crypto is going through a long winter, the NFT industry has had many ups and downs. Blue-chip NFT projects kept building and raised the bar for what digital assets can do. Now, 2023 has the potential to be the best year yet for the space. But what are the NFTs worth holding onto this year?There are thousands of exciting NFT collections out there, but only a few have proven to be reliable investments. With experienced teams and sound brand strategies,…

NFT OpenSea has a security and fraud problem and if one account holder on the NFT marketplace is right, it is negligent in protecting its customers and guilty of extortion. As prominent NFT creator, collector and venture capitalist Kevin Rose would no doubt attest, theft in the NFT space is a serious problem. He lost a part of his personal collection valued at $1.1 million in a recent phishing attack, although that was nothing to do with OpenSea. Robert Acres, as we detail below, also fell victim to an NFT phishing attack. Not as high-profile a user of OpenSea as…

Blockchain According to a press release published on Feb. 8, blockchain carbon credit transaction network Carbonplace has secured $45 million in an investment round from its nine founder banks with a combined $9 trillion in assets under management. The banks are BBVA, BNP Paribas, CIBC, Itaú Unibanco, National Australia Bank, NatWest, Standard Chartered, SMBC, and UBS. The London-based fintech has also announced that it will become an independent entity, led by new CEO Scott Eaton. As told by Carbonplace, the company will use the investment to strengthen its platform and workforce, allowing it to scale its services to a larger…

Initiatives toward metaverse development continue to be a significant focus and key interest in the Middle East region, as the LEAP conference in Riyadh, Saudi Arabia, highlights key topics in the industry.On Feb. 7, a partnership ceremony was held at the conference, which acknowledged a new memorandum of understanding (MOU) between the Sandbox and the government of Saudi Arabia.According to social media posts from Sebastien Borget, the co-founder and COO of the Sandbox, the MOU is with the Saudi Arabia Digital Government Authority (DGA) for the purpose of “exploring, advising and supporting” one another in metaverse development.It was a true…

The concept of virtual worlds and the Metaverse has been growing in popularity over recent years, with the introduction of AI and NFTs offering new opportunities for immersive experiences. However, there are still many challenges that lie ahead for these technologies to be adopted by the masses.According to RFOX VALT co-founder and CEO Ben Fairbank, there is a lot of untapped potential for AI and NFTs in the space. However, the challenges developers face in the journey toward mainstream adoption of the Metaverse and virtual reality are also numerous.RFOX VALT is an up-and-coming virtual reality and Metaverse platform allowing users…

NFT Artist name: Justin AversanoLocation: Los AngelesDate minted first NFT: Feb. 15, 2021Which blockchains? Ethereum Bio: Unintentionally, the healing process of losing his twin sister at birth sparked Justin Aversano’s career to become the poster child for NFT photography. His most famous collection, “Twin Flames,” has 5,900 ETH in total sales volume on OpenSea and multiple million-dollar sales, including one auctioned at Christie’s. A multidisciplinary artist with a great eye and passion for photography, Aversano’s journey into NFTs started with a trip to Peru to work with local shamans to try to get over an addiction and depression. It was…

NFT Interoperable EVM-based blockchain, Flare Network announces a partnership with Uppercent, a Web3 ed-tech startup, to launch “Masterclass-like” courses on the blockchain. According to the statement, released Wednesday, the two Web 3 companies aim to launch an educational marketplace, powered by NFTs. These non-fungible assets will be used as the pass to unlock the high-quality online courses on Uppercent, taught by some of the most successful people in their field. “We’re excited Uppercent has chosen Flare as the blockchain to power web3 functionality for the next generation of ed-tech products,” Flare Co-Founder & CEO, Hugo Philion said. “As firm believers…

So far, 2023 seems to be a great year for the NFT market as a CryptoPunk just sold for 857 ETH! Surprisingly, the iconic collection along with the Bored Ape Yacht Club reported over $1 million worth of sales in just twenty-four hours. These promising stats prove once again that many blockchain sectors finally recover after last year’s bear market. The most popular bluechip NFT projects BAYC and CryptoPunks scored +1M sales as the market is recovering. How Did a CryptoPunk Sell for Over $1M? The Web3 world rejoices as NFT trading is finally improving after the 2022 bear market.…