Blockchain Gaming Investments Soar Amidst NFT Launches, Metaverse Developments, and Legal Controversies
Summary:
This week's NFT updates include the launch of Captain Tsubasa's NFT game on the Oasys blockchain and a Korean university's metaverse collaboration with an LG subsidiary. The month of April saw nearly $1 billion invested in blockchain gaming. Fashion brand Dolce & Gabbana face a lawsuit over an alleged NFT delivery delay, while YouTuber Coffeezilla exposed an AI company's alleged involvement in an NFT scam.
This week's newsletter brings you updates from the world of nonfungible tokens (NFTs), starting with Captain Tsubasa's NFT game that recently marked its presence on the Oasys blockchain. Also noteworthy is a Korean university's collaboration with an LG subsidiary to bring a metaverse experience to its students. Take note of last month's near-billion-dollar inflow in blockchain gaming investments and the ongoing lawsuit Dolce & Gabbana are facing over their NFTs. Lastly, discover the NFT scam controversy unveiled by YouTuber Coffeezilla involving an AI firm.
LG Uplus, a South Korean telecommunications company, has introduced a metaverse experience at Yonsei University. The virtual Sinchon campus of the university, complete with its auditorium, library, and other significant places, has been christened as "Meta Yonsei". The campus is available for all to tour virtually, but some features are exclusively limited to authentic students.
Popular Japanese manga Captain Tsubasa has taken the gaming world by storm with its NFT soccer game running on the Oasys blockchain. The game, the first version of which was announced in 2022, had a successful launch on January 12, 2023, on the Oasys gaming-focused blockchain. A governance token was then launched on June 4, 2023.
As blockchain gaming continues to garner attention, investments in this sector neared $1 billion in April alone, states a report by DappRadar and the Blockchain Gaming Alliance. The report also mentions that the investment figure of $988 million was the highest since January 2021. Besides gaming, various metaverse projects, including the NFT metaverse Mocaverse, witnessed an impressive growth trajectory in April.
Fashion aficionado Dolce & Gabbana and Web3 platform UNXD are currently battling a class-action lawsuit filed by Luke Brown, a customer who was not pleased with the alleged delay in the delivery of his NFT purchases. Brown asserts that this unexpected delay led to his DGFamily NFTs, worth $6,000 initially, losing 97% of their value, which equated to a loss of $5,800 for him.
Stephen “Coffeezilla” Findeisen, a YouTuber, accused AI company Rabbit of conducting an NFT scam prior to its shift towards AI. He underscored in his video that the company took funds for an NFT project but failed to deliver the promised outcome. Findeisen also pointed out that the company's latest AI product, Rabbit R1, appeared to echo the same inconsistencies as the previously failed NFT project, both being unduly hyped but not delivering on their claims.
That concludes our weekly digest of NFT updates. Tune in next Wednesday for more news from this fast-paced and continuously evolving sector.
Published At
5/22/2024 10:00:00 PM
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