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Troubled cryptocurrency fintech Yuga Labs is about to face more lawsuits in relation to its nonfungible tokens (NFT) collection, Bored Ape Yacht Club (BAYC), and other projects.Rosen Law Firm, a global law firm focused on investor rights’ protection, announced on Jan. 30 that it’s planning to file a class action lawsuit against Yuga Labs. Rosen invited purchasers of Yuga securities — including BAYC NFTs and the native token ApeCoin (APE) — to join the class action against Yuga by the lead plaintiff deadline set for Feb. 7.The law firm emphasized that Yuga securities’ investors who bought BAYC and APE between April…

NFT The Defiance Digital Revolution ETF, a trailblazing exchange-traded fund focused on non-fungible tokens is shutting down, according to a recent report by Bloomberg. Its portfolio will be liquidated in mid-November after the hype around the nascent technology fizzled away. Defiance’s Sylvia Jablonski has acknowledged that the fund wasn’t attractive enough for investors. The company launched the first ETF focused on NFTs in December 2021. Back then, Jablonski predicted that NFTs could end up being bigger than the internet. The failed product offered investors exposure to various NFT marketplaces after they seemingly became the next big thing in 2021. Just…

Steve Aoki returns to the NFT scene with a brand new collaboration, this time with Deadfellaz. The fashion-themed drop is in fact a capsule collection involving Aoki’s apparel brand, Dim Mak. Accordingly, there will be T-shirts to hoodies, skate decks, and even an ultra-rare jacket! The physical items will become available at DEADZONE LA – Deadfellaz‘s long-awaited Halloween event in Los Angeles on October 39th. This month, Steve Aoki partnered with Deadfellaz for a Halloween-themed custom collection via his label Dim Mak. Credit: Deadfellaz Steve Aoki x Deadfellaz: What is the Dim Mak NFT drop about? On October 29th, Deadfellaz…

That’s a wrap, folks! The first season (Season 0 officially), for Homeland, the land gameplay feature of Axie Infinity, ended today, and the team shuts things down to prepare for Season 1. We should see more from this much anticipated alpha in a few weeks. Season 0 of Axie Homeland ended today (January 31, 2023). And according to the Axie team’s metrics, things looked pretty good. Player retention rate was high, players tended to play long gaming sessions (though I saw some players complaining about that), and overall, players showed significant progress in leveling up their land plots. And though…

Kazakhstan, one of the world’s biggest Bitcoin (BTC) mining destinations, issued a consultation paper to gauge public interest in proposed amendments to improve the cryptocurrency trading framework.The policy paper, released on Jan. 27, was laid down by the Astana Financial Services Authority (AFSA), a Kazakh regulator. The AFSA pointed out that the Astana International Financial Centre’s Digital Asset Trading Facility (DATF) regulatory framework dates back to 2018 and that the amendments seek to introduce certain enhancements. AFSA’s analysis highlighted problems related to the ongoing supervision of crypto exchanges, revealing “contradictions, inefficient provisions and uncertain definitions within the regime.” It recommended introducing risk mitigation measures around…

As nonfungible tokens (NFTs) attract more users, they also capture the eyes of scammers. Bad actors in Web3 have set their sights on digital collectibles, with millions being lost through scams and various attacks. However, according to professionals working in the Web3 space, there are multiple ways and tools to prevent being a victim of NFT theft. In addition, users can also take various actions after losing their digital collectibles to hacks. Ronghui Gu, the co-founder and CEO of blockchain security firm CertiK, told Cointelegraph that the first and most important step is always due diligence. “Avoid clicking on suspicious links…

Women-focused, blue-chip NFT collection, World of Women has announced the launch of the WoW Awards. The latest update comes on the heels of its announcement of the “WoW Gala” earlier this month. As WoW’s biggest event of the year, the Gala aims to celebrate its members. The upcoming WoW Awards is one of the primary aspects of the Gala.  Let’s take a closer look at what the WoW Awards are all about: The WoW Awards will honor members across 8 categories. What are the WoW Awards? World of Women will host its first WoW Awards during the WoW Gala. The…

Gala Games released a lengthy and detailed outline and roadmap of their plans for 2023. Their plans include increasing focus on mobile games, the expansion of the Gala blockchain, and game tokenomics. Already deeply immersed into gaming, Gala Games expanded their scope last year with the creation of Gala Music and Gala Films. Then, towards the end of the year, they announced their acquisition of a mobile gaming company, and their plans to on-board that company’s entire suite of games into web3! They’ve also made a splash with their announcement about ditching the TOWN token to make GALA the primary…

Authorities in the Hainan province in southern China have vowed to increase oversight on the nonfungible token (NFT) space to “promote the healthy development” of the sector and to stomp out fraud and other associated risks. Separately, the People’s Bank of China (PBoC) has announced that it is working on new features for its central bank digital currency (CBDC) pilot program, known as the digital yuan or e-CNY. NFT oversightIn a public notice posted on Jan. 29, Hainan’s market regulator and nine other agencies from the province outlined a lengthy plan to tackle the NFT sector moving forward. A translation of…

The potential behind the metaverse is becoming greater as virtual and physical worlds converge. Market intelligence firm Contrive Datum Insights recently found that the global metaverse market is estimated to surpass $1.3 trillion by 2030. According to the study, this growth will be driven by newly adopted virtual economy trends, combined with the rise of both crypto and online games.Additionally, a recent survey conducted by CoinWire highlighted that the metaverse would likely reshape social lifestyles. CoinWire found that 69% of respondents believe that the metaverse will eventually modify social lifestyles due to new approaches taken for entertainment and activities. AI…