Google Enables NFT Game Advertising, Milady NFT Collection Loses $1M, CNA Insurance Excludes NFT Coverage, Asian Markets Embrace the Metaverse, Binance NFT Withdraws Support for Polygon
Summary:
Google allows ads for NFT games, Milady NFT collection loses $1M, CNA Insurance excludes NFTs from coverage, metaverse gains popularity in Asia, Binance NFT ends support for Polygon-based NFTs.
Google to allow advertising of NFT games from September 15th
Starting September 15th, Google will update its crypto ad policy to allow advertisements for games featuring nonfungible tokens (NFTs). However, the policy still prohibits ads promoting gambling or gambling services. According to Google, NFT games that allow players to purchase in-game items for enhancing their experience will be permitted, while games that involve staking or wagering NFTs for rewards are still not allowed.
Developer steals $1 million in assets from Milady NFT collection
Milady Maker, an Ethereum-based NFT project, has fallen victim to an exploitation scheme resulting in the theft of $1 million in generated fees. The developer responsible for the attack within Milady's ecosystem has been identified, and legal action will be pursued by the collection's co-founder to retrieve the stolen assets.
CNA Insurance excludes NFT coverage from $20 million policy
United States commercial insurer CNA Financial has decided to exclude coverage for nonfungible tokens (NFTs) from a $20 million policy. The exclusion was detailed in an SEC filing related to the policy of Schwab Strategic Trust, stipulating that damages, losses, or lawsuits related to NFTs will not be covered.
Metaverse gaining popularity in Asia, says The Sandbox co-founder
Although the metaverse concept may not be soaring in popularity in Western countries, The Sandbox co-founder Sebastien Borget highlighted its significant success in Asian markets. Borget revealed that around 50% of The Sandbox's business comes from countries like Hong Kong, Korea, and Japan. He urged that overlooking the Asian market might lead to the misconception that the metaverse is stagnant from a North American and Western perspective.
Binance NFT ends support for Polygon-based NFTs
Binance's NFT platform has announced the end of its support for NFTs based on Polygon, a decentralized platform built on Ethereum. While the reasoning behind this decision has not been disclosed by Binance, it marks a notable shift in their NFT support.
NFT restaurant project in San Francisco canceled, Binance NFT discontinues Polygon support
Construction of an NFT-based restaurant and lounge project in San Francisco has been halted due to challenging economic factors, leading to its cancellation. On another note, Binance's NFT arm has decided to cease its support for NFTs based on Polygon, without providing specific details surrounding this change.
Published At
9/13/2023 7:00:00 PM
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