🚨 $1.2 Billion Etherium-Based Metaverse World Astonished by Staggeringly Low 38 Active Users

According to data aggregator DappRadar, Metaverse’s Sandbox environment Decentraland only had 38 “active users”. This data is recorded over a period of 24 hours. This number is astonishingly low considering the company has a market cap of a colossal $1.2 Billion.

“Decentraland” the sandbox world by Metaverse, explained the whole ordeal by saying “active users” are defined by individuals with blockchain wallets who directly interact with the system. This applies that the users who only log in to chat with other users and interact with the virtual environment are not counted as “active users”. He also added that Decentraland on average gets around 8000 users every day.

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Five people have been charged in France on allegations that they fraudulently acquired $2.5 million worth of non-fungible tokens (NFTs), mainly targeting Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) owners.

The prosecution alleged that the suspects used a phishing operation to acquire the assets, luring victims via a fake website that promised to animate their NFTs, according to reporting by the Agence France Presse (AFP) posted by Barrons.

The charges levied against the suspects, all of whom aged between 30 and 24, include “include fraud committed as part of a criminal gang, concealing fraud and criminal association.”

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🇺🇦 Ukrainian art museum to preserve art, cultural heritage through NFT auction

Non-fungible token (NFT) use cases are continuing to advance past the touted days of stale digital art collections as the Web3 space grows. NFT usefulness is, however, being reimagined even in the world of art, as is the case with a Ukrainian art museum, as reported by Cointelegraph.

The Kharkiv Art Museum revealed on October 13 that the Binance NFT market now stocks items from its Art without Borders NFT collection. With earnings going to support the museum’s operations and “preserve the cultural heritage of Ukraine,” as stated in the official announcement, Art without Borders features 15 works of art from the museum’s collection. According to Cointelegraph, nearly 25,000 works of fine art by Ukrainian.

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In an interview with the Financial Times, the US stock market regulator’s senior Republican member said some NFTs could be regulated like stocks or bonds. She called for the SEC to publish more information on the market, which includes the Bored Ape caricatures.

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Azuki has launched the Physical Based Token $PBT on the Ethereum blockchain.

The PBT will be used to link physical items to digital tokens via a scan-to-own mechanism.

The company also announced the BEAN Chip a physical cryptographic chip that self-generates an asymmetric key pair.

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Bicycle Playing Cards, the long-running brand now under parent company Cartamundi, announced today that it purchased a Bored Ape NFT and that it plans to create and sell physical playing cards using the artwork. The brand also aims to work with other Ape owners to potentially create additional NFT-themed decks.

Bicycle purchased Bored Ape #1227 in June for just over 103 ETH, or nearly $187,000 worth at the time. Crypto payments firm Moonpay apparently facilitated the purchase, based on public blockchain data.

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​📣 Muhammad Ali registered as a trademark in Web3 covering NFTs and metaverse

The name of the legendary boxer and activist Muhammad Ali is now protected as a trademark in the Web3 space extending to non-fungible tokens (NFTs) and virtual goods in the metaverse. issued on October 18, according to a tweet posted by NFT and metaverse licensed trademark attorney Michael Kondoudis on October 19.

It’s worth mentioning that the trademark application for Muhammad Ali was one of several filed in late 2021 to trademark celebrity names. Some of the others include Marilyn Monroe and Elvis Presley. Notably, the Football star Cristiano Ronaldo signed an exclusive NFT partnership with Binance back in June. Many athletes and sports organizations across the world are jumping on the NFT bandwagon in an effort to maintain their level of fan engagement with fans.

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The invite-only eCommerce platform Basic Space has become well known for its innovative business model, curating some of the most influential figures in fashion, art and sports as sellers on their marketplace.

Earlier today, the retail marketplace revealed plans to dive deeper into the NFT space, unveiling themselves as the founders of Elon.Space - a mysterious NFT collective we’ve had our eyes on and now know much more about.

Elon.Space will be a collection of 420 one-of-one NFTs featuring Elon Musk, granting holders access to a variety of IRL and digital benefits. Each piece is tied to something exclusive, including items from the mix of sold-out luxury goods comprising Basic.Space’s site.

Holders are also granted membership to SELECT, the brand’s web3-curious community which hosts events across the globe. SELECT will also grant access to member-only luxury items.

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Despite the bear market blockchain games and metaverse projects raised a cumulative $1.3 billion in venture capital between July and September, according to DappRadar’s latest BGA Games Report. While this figure was down 48% compared to the second quarter, it was nearly double the total amount raised in 2021.

DappRadar said that projects focused on Web3 metaverse infrastructure accounted for over 36% of the quarterly investments.

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Game design legend and the mind behind both The Sims and SimCity, Will Wright has announced he’s on board to develop the Gogala Games blockchain-backed metaverse VoxVerse.

VoxVerse is centered around unique playable NFT avatars, and Gala has already incorporated a variety of recognizable IP into NFTs for the game’s release. Players will soon be able to explore unique “biomes”, own land and buy, sell and trade VOXs to use.

Wright’s perspective on blockchain gaming and the benefits it offers is a unique one. In a recent statement, he mentions how Sims players custom creations amounted for a staggering chunk of the franchise’s success, while creator’s received just a small percentage of this value for their work.

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The Tezos blockchain partnered with Web3 automation platform Taco to allow Shopify users to access Tezos nonfungible tokens (NFTs) via Taco’s NFT loyalty program. The e-commerce giant has established itself as a growing destination for brands looking for Web3 engagements.

With the latest integration of Tezos into the Taco app, Shopify merchants everywhere now have a new method to interact with customers and connect to the expanding Tezos NFT community.

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In a tweet, an NFT investor pointed out several issues surrounding OpenRarity, the new rarity ranking protocol implemented by NFT marketplace OpenSea. According to the community member, putting “rank” in the NFT listing with no mention of “rarity” anywhere could be misleading.

Days after the feedback, the NFT marketplace made some revisions to the ranking system. At the moment, NFT listings now show “rarity rank” instead of just the rank. In addition to this, the NFT marketplace has also added a trait count within the ranking methodology and a way to sort items with unique attributes before applying any additional information that elevates its rank.

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