Amidst a drastic decline in coin prices, shifting player behavior, and hard-to-maintain tokenomics, it's been a difficult year for many GameFi developers. While more established franchises, such as Axie Infinity, have held ground, other lesser-known projects like Elexir have mostly pulled the plug, with a lack of viable game designs being unable to compensate for the "Fi" element in GameFi. That said, one project which, despite running into all challenges, experienced by its peers, appears to have gained traction anyway. In early February, blockchain multiplayer online battle arena (MOBA) game Superpower Squad (SPS) surpassed 200,000 downloads on the App Store …

As the crypto industry attracts more users, developers are laser-focused on improving user experience, a major pain point for most new users. Artificial Intelligence has often been seen as a technology that could improve how people use and interact with crypto. In the latest episode of Hashing It Out, the integration of AI with crypto is discussed at length. Cointelegraph’s Elisha Owusu Akyaw (GhCryptoGuy) interviewed Nansen CEO Alex Svanevik about the importance of on-chain data and the use of artificial intelligence in crypto in Episode 8 of Hashing It Out. The narrative that artificial intelligence is taking over has intensified …

Five years on from its inception, fan token platform Chiliz has launched its own layer-1 Ethereum Virtual Machine (EVM) compatible blockchain ecosystem to support its growth. Chiliz’s fan token ecosystem has long been powered by Ethereum-based ERC-20 tokens, but the validation of the Chiliz ‘2.0’ Blockchain genesis block sees the ecosystem shift to its own layer 1. The new blockchain uses a system of 11 active validators with Proof of Stake Authority (PoSA) consensus, which is touted to provide faster block times, lower fees and energy usage. According to the project’s documentation, Chiliz Chain 2.0 is a hard fork of …

A recent analysis of more than a million tweets showed a list of countries that love and hate the metaverse, with Vietnam showing the most love for the concept and Ireland topping the opposite side of the spectrum. Crypto data website CoinKickoff analyzed 1.6 million tweets from different parts of the world to determine which countries are in favor of the metaverse concept and which countries oppose it. The results showed that Vietnam topped the in-favor list, with 56.8% of the metaverse tweets coming from the Southeast-Asian country being positive. East-Asian countries were generally positive toward the concept. Apart from …

As the market turned from bullish to bearish, many critics were quick to question the legitimacy of new digital collectible releases. Fortunately, the market turn wasn’t an end to the asset class as a whole, but rather to the projects that weren’t rooted in real utility. Although the utility itself varies from rallying people in support of a social cause to building a community for like-minded individuals to interact, the conclusion is clear — the real value of digital collectibles is what it represents to their collectors. Therefore, many collections are putting the community front and center, building intentionally so …

On Feb 8, a jury trial in the Southern District of New York reached a verdict in Hermès' lawsuit against MetaBirkins. The court ruled that artist Mason Rothschild had violated the trademark protections of the brand Hermès. Rothschild's 100 "Metabirkins" NFTs were found to not be artistic commentary and therefore not protected by the First Amendment of the US Constitution. According to a report by Vogue Business, a nine-member jury found Rothschild liable for trademark infringement, trademark dilution, and "cybersquatting," awarding Hermès $133,000 in damages. Notably, the decision marks the first time the relationship between digital art, NFTs, and physical …

In this week’s newsletter, read about how Yuga Labs settled a lawsuit with one of the creators of a copycat nonfungible token (NFT) collection. Learn how the Bitcoin Ordinals creator fixed the first instance of porn uploaded to the protocol and how YouTuber Coffeezilla tricked MMA fighter Dillon Danis into promoting fake NFTs. In other news, Logan Paul and his team face a class-action lawsuit for allegedly executing a rug pull, and don’t forget this week’s Nifty News, featuring Mastercard’s former NFT lead minting his resignation letter as an NFT. Yuga Labs settles lawsuit with developer involved in copycat BAYCs …

In 2022, the concept of nonfungible tokens (NFTs) faced criticism from those who questioned their utility. However, the team behind the “A Hard Working Man” (AHWM) digital collectibles project is eager to change that perception. In collaboration with Cointelegraph and Animal Concerts, the team behind the hit single “A Hard Working Man” — including Grammy-award-winning production duo The Avila Brothers — is releasing an NFT collection with real utility featuring hip hop icon Snoop Dogg and country music mogul Billy Ray Cyrus. Explore the collection here To add to the excitement of the NFT drop and ensure real-world utility for …

The concept of virtual worlds and the Metaverse has been growing in popularity over recent years, with the introduction of AI and NFTs offering new opportunities for immersive experiences. However, there are still many challenges that lie ahead for these technologies to be adopted by the masses. According to RFOX VALT co-founder and CEO Ben Fairbank, there is a lot of untapped potential for AI and NFTs in the space. However, the challenges developers face in the journey toward mainstream adoption of the Metaverse and virtual reality are also numerous. RFOX VALT is an up-and-coming virtual reality and Metaverse platform …

The development of blockchain technology and the growing adoption of nonfungible tokens (NFTs) are two factors that have contributed to the proliferation of play-to-earn collectible games. Play-to-earn (P2E) games allow players to gain benefits by participating in the game, such as in-game currency and items. This creates a new dynamic where players can profit from their in-game actions, enhancing the fun and purpose of the gaming experience. Additionally, the usage of NFTs and blockchain technology in play-to-earn games gives players greater ownership and scarcity, which increases demand and can result in higher prices for exclusive in-game commodities. Play-to-earn games like …

Are phygital NFTs the future? The world could be tokenized, and NFTs could be the means through which we perform commerce. Could that be the future? Phygital nonfungible tokens have a strong value add and can be a part of any brand’s community initiatives. Considering the fact they are new, there is a buzz around them that brands can benefit from. With many Web2 incumbents and digital native companies jumping on the bandwagon, phygital NFTs are poised to be a major part of the community and marketing initiatives of companies. However, the widespread adoption of phygital NFTs will likely depend …

The creator of the nonfungible token (NFT) collection Bored Ape Yacht Club has settled a lawsuit with one of the developers behind a copycat collection known as RR/BAYC. On Feb. 6, Yuga Labs settled a lawsuit that involved Thomas Lehman, the developer of websites and a smart contract selling “misleading” BAYC NFTs from digital artist Ryder Ripps. The firm behind the blue-chip collection sued Lehman in January for his involvement and technical support for the collection of mimic monkeys. According to the suit, Lehman assisted Ripps and Jeremy Cahen to develop and promote the NFTs on social media. It claimed …