In this week’s newsletter, read about Captain Tsubasa’s non-fungible token (NFT) game debuting on the Oasys blockchain and the Korean university launching Metaverse with an LG subsidiary. See how blockchain gaming investments reached nearly $1 billion in April and read about Dolce & Gabbana’s lawsuit over NFTs. In other news, Coffeezilla has cleared up allegations of NFT fraud perpetrated by an artificial intelligence (AI) company.
Korean university launches Metaverse with individual student access
LG U+ started the Metaverse experience at Yonsei University. The virtual world recreates the school’s Sinchon campus, complete with explorable landmarks such as the auditorium and library.
The metaverse, called ‘Meta Yonsei’, limits some features to verified students. Outsiders will be able to walk through the virtual campus, but meeting tools and student-only spaces will be limited.
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Captain Tsubasa NFT soccer game debuts on Oasys blockchain.
Captain Tsubasa, the best-selling Japanese manga, has launched an NFT soccer game on the Oasys blockchain. On May 20, gaming-focused blockchain Oasys announced that the 80s cartoon had launched a Web3 game version of its network.
The Web3 game was first revealed in 2022 and officially released on January 12, 2023. Web3 Games also launched a governance token on June 4, 2023.
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Blockchain gaming investment reached nearly $1 billion in April.
Renewed interest in blockchain gaming led the sector to record nearly $1 billion in investments in April, according to a report released by DappRadar and Blockchain Gaming Alliance. The report highlighted that investments reached $988 million, the highest amount to enter blockchain gaming since January 2021.
In addition to games, the Metaverse project also showed signs of growth in April. NFT metaverse Mocaverse overwhelmed the competition with a trading volume of $8.4 million.
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Dolce & Gabbana faces class action lawsuit over alleged delays in NFT delivery
Fashion brand Dolce & Gabbana and Web3 platform UNXD are facing lawsuits from disgruntled customers over alleged delays in the delivery of NFT products. The lawsuit alleges that the delay caused the property to lose 97% of its value.
Customer Luke Brown purchased a DGFamily NFT for $6,000. However, the NFT was reportedly delivered more than a week late, reducing its value by $5,800.
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Coffeezilla accuses AI company Rabbit of NFT fraud.
YouTube reporter Stephen “Coffeezilla” Findeisen claimed in a video that AI company Rabbit was involved in NFT fraud before switching to AI. Cryptocurrency investigators highlighted that the company raised funds for its NFT project but failed to deliver on its promises.
Findeisen said the company’s new AI product, Rabbit R1, shares similarities with failed NFT projects. Investigators said the project was “built on the framework of a fraudulent project” and was similarly overvalued.
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Thank you for reading our digest of this week’s most noteworthy developments in the NFT space. Come back next Wednesday for more reports and insights into this actively developing space.