Rabbit AI’s alleged NFT scam, Dolce & Gabbana’s class-action lawsuit: Nifty Newsletter

By Cointelegraph
2 months ago

In this week’s newsletter, read about Captain Tsubasa’s nonfungible token (NFT) game that debuted on the Oasys blockchain and the Korean university that launched a metaverse with an LG subsidiary. Check out how blockchain gaming investments almost reached $1 billion in April and read about Dolce & Gabbana’s lawsuit over its NFTs. In other news, Coffeezilla unraveled an alleged NFT scam conducted by an artificial intelligence (AI) company. 

Korean university launches metaverse with private student access

South Korean telecom company LG Uplus launched a metaverse experience at Yonsei University. The virtual world recreates the school’s Sinchon campus, with explorable landmarks like the auditorium and the library.

The metaverse, dubbed “Meta Yonsei,” limits some of its features to verified students. While outsiders can walk within the virtual campus, meeting tools and student-only areas are restricted.

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Captain Tsubasa NFT soccer game debuts on Oasys blockchain

Captain Tsubasa, a best-selling Japanese manga, launched its NFT soccer game on the Oasys blockchain. On May 20, gaming-focused blockchain Oasys announced that the 80s manga released a version of its Web3 game on its network.

The Web3 game was first revealed in 2022 and was officially launched on Jan. 12, 2023. The Web3 game also released a governance token on June 4, 2023.

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Blockchain gaming investments reached nearly $1 billion in April

With renewed interest in blockchain gaming, the sector saw almost $1 billion in investments in April, according to a report released by DappRadar and the Blockchain Gaming Alliance. The report highlighted that investments reached $988 million, the highest amount to enter blockchain gaming since January 2021.

Apart from gaming, metaverse projects also saw signs of growth in April. NFT metaverse Mocaverse showed an $8.4 million trading volume, leaving its competition in the dust.

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Dolce & Gabbana faces class-action lawsuit after alleged NFT delivery delay

Fashion brand Dolce & Gabbana and Web3 platform UNXD are facing a lawsuit from an unhappy customer over an alleged delivery delay of NFT products. The suit alleges that the assets lost 97% of their value because of the delays.

The customer, Luke Brown, bought DGFamily NFTs for $6,000. However, the NFTs were allegedly delivered more than a week late, reducing their value by $5,800.

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Coffeezilla calls out AI firm Rabbit over alleged NFT scam

YouTube reporter Stephen “Coffeezilla” Findeisen alleged in a video that AI company Rabbit was involved in an NFT scam before moving to AI. The crypto investigator highlighted that the company raised money for an NFT project and did not deliver on its promises.

Findeisen said the company’s new AI product, Rabbit R1, shares similarities with the failed NFT project. The investigator said the project was “built on the skeleton of that scam project” and was similarly overhyped.

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Thanks for reading this digest of the week’s most notable developments in the NFT space. Come again next Wednesday for more reports and insights into this actively evolving space.

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