Sony Submits Gaming Token Patent; Dogwifhat Community Fundraises for Ad; PayPal Waives PYUSD Fees
Summary:
Sony has submitted a patent outlining a distributed ledger-based "super-fungible token for gaming," which tracks gaming assets via non-fungible tokens (NFTs). Meanwhile, the Solana memecoin dogwifhat community has raised $255K for an ad space on the Las Vegas Sphere stadium. Jito Labs suspended its mempool function due to adverse impacts on Solana users. PayPal has eliminated fees on its PYUSD stablecoin for Xoom app users while Wyoming enacted laws for decentralized autonomous organizations. Lastly, Arbitrum’s DAO withdrew a proposal to offer $1.3 million to the Tornado Cash developers' legal defense.
Tech mogul Sony has submitted a patent request detailing its vision for a "super-fungible token for gaming," founded on the principles of distributed ledger technology, according to documents published by the United States Patent and Trademark Office (USPTO). Disclosed in August 2022 and shared publicly on Feb. 29, the patent outlines a mechanism for tracking a gamer's virtual assets using a cluster of non-fungible tokens (NFTs). The system as envisaged will involve an electronic device tasked with monitoring gaming assets linked to a player. Metadata harvested from those digital articles would compose a super-fungible token—a collection of non-fungible tokens—recorded on a blockchain affiliated with the gaming application.
Sony characterizes gaming assets as implements, weapons, and avatars which would be converted into NFTs and gathered into a super-fungible token for usage within videogames. From the patent, it can be inferred that Sony may be exploring the use of NFT or blockchain technology in its games. However, it remains uncertain whether the purported "distributed ledger" would be proprietary or a public blockchain like Ethereum, which the patent briefly mentions. The patent does not confirm that Sony will execute such a structure, although Sony has previously filed various NFT-related patents.
The online community of the Solana-based memecoin, dogwifhat (WIF), has raised more than $255,000 towards their objective of securing a $650,000 ad space on the Las Vegas Sphere stadium. The fundraising campaign dubbed "Sphere Wif Hat", initiated by the user "Ansem" on March 10, is already 40% towards the target.
The accumulated funds are stored in a multisig wallet reportedly owned by Ansem and four anonymous contributors. Further details on how they intend to actualize the goal, or what will happen to the funds if the goal is not reached, are yet to be unveiled. Majority of the donations fall below $100, although one donor gave $15,000 and a trio contributed $9,999 each in USD Coin (USDC), according to Solscan data.
Jito Labs, a Solana client developer, has discontinued its mempool function due to adverse implications affecting Solana users. Following dialogues with pivotal stakeholders in the Solana ecosystem on March 8, Jito made the decision to suspend the product on the same day.
In other news, international money transfer service provider PayPal has waived fees on its stablecoin, PYUSD, for Xoom app users amidst a market capitalization dip of over $75 million in less than a week. Users transferring PYUSD via Xoom will have their funds converted into the receiver's local currency without affecting the stablecoin's supply, according to PayPal's crypto and blockchain head, Jose Fernandez da Ponte, during a conversation with Fortune on March 9. However, foreign exchange spread rates will still apply.
Lastly, the U.S. state of Wyoming has enacted laws providing a legal framework for operating decentralized autonomous organizations (DAOs), known within the area as decentralized unincorporated nonprofit associations (DUNAs). Simultaneously, Arbitrum’s DAO subtly withdrew a proposal to extend $1.3 million to the legal defense of Tornado Cash developers Roman Storm and Alexey Pertsev.
Published At
3/11/2024 7:46:49 AM
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