Meta Digest #3
NFT expert needed in Disney
Entertainment market leader Disney is looking for an NFT sector-oriented business development manager who can help the company enter the NFT sphere. The main employee’s responsibilities involve monitoring the emerging market, determining business strategies, and negotiating with partners.
Despite his skepticism about the NFT sphere in terms of piracy, Bob Iger, former Disney CEO, expressed his confidence that the demand for NFT will only grow, so digital things should have a place too. Iger identified the number one challenge within the NFT industry — the monitoring of “toxic” behavior.
Notably, Disney partnered with NFT marketplace VeVe in October 2021 to promote the Disney+ service.
Simple coding function could kill greatest NFT collection
According to the data from the smart contract of Bored Ape Yacht Club NFT collection, the owner of a contract-bound wallet can mine an infinite quantity of NFT pieces.
It’s all about the vulnerability of the contract’s “reserveApes” feature, which allows minting 30 apes at once without commission. However, the problem is more complex: the failure of the function will enable it to mint an infinite number of collections and change the metadata of each token in the collection. It is probably caused by “leaving the code open”.
It is not the first technical vulnerability in the NFT sector. Earlier, an API problem within the OpenSea market allowed hackers to steal some NFT items from the Cool Cat and Bored Ape Yacht Club collections.
Real estate sales in the metaverse hit $500 million
Real estate sales in the metaverse exceeded $500 million last year and could reach $1 billion this year.
The demand for real estate was sparked by renaming Facebook to Meta: the company declared its serious commitment to contributing to the metaverse development.
Record sales were made within the Big Four: Sandbox, Decentraland, Cryptovoxels, and Somnium, where the former is dominant with 62% of the land acquired.
How to determine the value and risk of an asset in the possible future (metaverse) is the leading question investors are asking today.
Andrew Kiguel, CEO of Tokens.com, emphasized the main opportunity within the metaverse — commercial activities. Some believe that the metaverse is just a magnet for investors whose contributions to its development will prove useless, and they will simply go bankrupt.
Tezos blockchain activity doubles, and number of smart contracts triples because of NFTs
According to Coin Metrics’ report, the Tezos network ($XTZ) has experienced increased activity over the past few months with the adoption of NFTs and the tripling of smart contracts (from 200 to over 600).
In addition, Tezos also recently launched an update that reduced the smart contract fees by 75%. The number of smart contract transactions has increased over the past 12 months to more than 50,000 per day from 10,000 per day in January 2021.
The video game developer Ubisoft has chosen Tezos for launching gaming NFTs. Also, McLaren Racing leveraged the blockchain platform possibilities for creating the collection of NFTs called “McLaren Racing Collective”.
At this rate of growth and demand, the platform could become a competitor to Ethereum and Binance Smart Chain.
World’s first voice NFT collection is sold in less than 10 minutes
Voiceverse Origins, the world’s first voice Ethereum-based NFT, was released on Jan. 29 and sold out in just 10 minutes, becoming an OpenSea trend.
Voiceverse intends to innovate the world of metaverse by creating an NFT that allows owners to have a voice in the metaverse and to personalize their Profile-Picture NFT. In this way, NFT owners can use voices in the games within metaverse, hold video calls, mix and match different voice NFTs, and that’s not all.
Being a subsidiary of the LOVO company, having partnerships with renowned voice actors, and carrying cutting-edge expertise in the AI Speech Synthesis space, Voiceverse has made a considerable splash in the NFT industry.
NFT collector loses $2.7 million in Bored Ape and others NFTs
Larry Lawliet became a “victim of social engineering”, in which he lost a piece of Bored Apes, Mutant Ape, and Doodle NFTs. The collector signed fraudulent transactions and thus opened up access to his NFTs, losing about $2.7 million. A fraudster took control of the Discord server of Moshi Mochi NFT collection to place a fake ad for an additional mint. And so the sad story began.
To prevent such hacker tricks in the future, it is recommended to carefully check the transaction before approval, pay attention to transaction histories, as well as addresses with granted approval. Security experts also advise using “burner wallets”.
National Art Museum of Ukraine to Launch NFT Collection
On February 1, the National Art Museum of Ukraine, in cooperation with the Estonian startup StampsDaq launched an auction of NFT paintings. Exclusive tokens can be found on the StampsDaq NFT marketplace. Token holders will also be able to get museum tickets and tours.
According to Yulia Litvinets, director of the National Art Museum, NFTs “help reveal the nature of the paintings’ creation.”