2 years ago
In this week’s newsletter, work astir Sony filing a patent for a nonfungible token (NFT) model for games, and however executives judge that Grand Theft Auto (GTA) and Minecraft developers whitethorn alteration their minds connected blockchain technology. Learn however an NFT collector accidentally burned a CryptoPunk worthy $135,000 portion trying to get funds, and find retired astir Disney reportedly sacking its metaverse division. In different news, His Majesty’s Treasury successful the United Kingdom has dropped the Royal Mint NFT project.
Sony eyes NFT transfers crossed aggregate crippled platforms, reveals patent
Sony has precocious filed a patent for an NFT transportation model crossed aggregate crippled platforms. This caller summation to Sony’s preparations to participate crypto integrates NFTs into gameplay. With this, NFTs tin go skins oregon different in-game functions and items.
The patent showed that NFT ownership could beryllium transferred to different extremity users crossed assorted platforms, allowing PlayStation 5 users to usage NFTs successful games erstwhile implemented.
Minecraft, GTA whitethorn yet alteration their tune connected blockchain: GameFi execs
In November 2022, GTA developers Rockstar Games announced that instrumentality servers for GTA V would not beryllium capable to usage NFTs anymore. Despite this, galore executives wrong the Web3 abstraction are hopeful that crippled developers volition alteration their minds astir blockchain technology.
Grant Haseley, an enforcement astatine Web3 crippled improvement steadfast Wagyu Games, told Cointelegraph that AAA studios would alteration their caput erstwhile there’s a occurrence story. “It’s conscionable going to instrumentality 1 Web3 crippled to detonate for the others to instrumentality flight,” helium said.
NFT capitalist accidentally burns $135K CryptoPunk trying to get money
An capitalist tried to spell done the intricate process of NFT wrapping and ended up burning a CryptoPunk worthy astir $135,000. According to NFT collector Brandon Riley, helium was wrapping the NFT to perchance get liquidity from it. However, things didn’t spell arsenic planned.
While the NFT capitalist was pursuing the wrapping process, helium came crossed an code and sent the NFT to it, believing it was portion of the steps helium needed to take. However, the collector aboriginal discovered that the code was a pain address, permanently taking the CryptoPunk retired of circulation.
Disney reportedly scraps its metaverse division
Disney has reportedly said goodbye to its metaverse part arsenic portion of its restructuring plans, which see laying disconnected 7,000 employees and reducing expenses by $5.5 billion. According to a study successful The Wall Street Journal, the firm’s metaverse part members volition not beryllium fixed a caller employment contract.
The part was created successful February 2022 successful an effort by the amusement elephantine to find caller ways to prosecute with its audiences done assorted stories. Apart from this, the steadfast besides dived into trying to integrate metaverse exertion successful betting. However, determination is nary reported advancement yet.
UK Treasury drops plans for Royal Mint NFT
The U.K.’s Economic Secretary to the Treasury has shelved its plans to motorboat the Royal Mint NFT — an effort to make government-backed NFTs to propulsion the U.K. arsenic a planetary hub for crypto-asset technology.
The task was primitively scheduled to motorboat successful 2022 but could not conscionable the expected deadline. Even though the task was dropped, Economic Secretary to the Treasury Andrew Griffith pointed retired that the connection volition stay nether review.
CHECK OUT COINTELEGRAPH’S NFT STEEZ PODCAST
Thanks for speechmaking this digest of the week’s astir notable developments successful the NFT space. Come again adjacent Wednesday for much reports and insights into this actively evolving space.
English (US) 