A multi-chain marketplace that's fully focused on music-related nonfungible tokens is gearing up for launch within weeks. Centaurify says it's determined to empower musicians with an opportunity to make the most out of Web3 — all while bringing them closer to fans. Ethereum and Solana are going to be supported initially, with more networks set to be included in subsequent releases. Another crucial Centaurify product will center on issuing tickets for live music events as NFTs. Executives firmly believe this has the potential to eliminate counterfeits, prevent "scalping" practices that raise prices for everyone, and ensure artists and organizers receive …

In this week’s newsletter, read about how Sony Music Entertainment is preparing to venture into nonfungible tokens (NFTs). Check out how car manufacturer Ford is on the way to entering the Metaverse and how coffee chain Starbucks plans to launch NFT rewards through a program called Starbucks Odyssey. In other news, learn about how the Japanese government used NFTs to reward public servants who excelled in using digital technology to provide local solutions. And, don’t forget about this week’s Nifty News roundup featuring a little league baseball card featuring Meta founder Mark Zuckerberg. Sony Music files trademark application for NFT-authenticated …

Web3 projects are the talk of the current digital scene, with thousands of new companies coming to life every day in an attempt to ride out this global wave with their own product releases. Unfortunately, reality has shown most of these offerings do not provide any tangible value to their players or user bases. Instead, they rely on superficial hype of cryptocurrencies, nonfungible tokens (NFTs) and related buzzwords, a seemingly unnatural method to pursue user growth. At present, these efforts result in short-term successes and unsustainable growth. To ensure projects are built on foundations that enable long-term value, startups are …

American music giant Sony Music Entertainment has signaled intentions to utilize non-fungible tokens (NFTs) after filing a trademark application covering music and artists under the Columbia Records logo. According to an Aug. 30 trademark application to the United States Patent and Trademark Office (USPTO) shared by trademark attorney Mike Kondoudis on Sept. 6, the application covers "audio and video recordings featuring live musical performances authenticated by NFTs." #SonyMusic has filed a trademark application for the Columbia Records logo claiming plans to use it for: ▶️ NFT Backed Media ▶️ Music + Podcast Production ▶️ Artist Management + Music distribution services …

The metaverse has potential to transform the way we work, socialize, party and even do business — but looking at the infrastructure that exists right now, and some would accuse this industry of running before it can even walk. Many virtual worlds are making bold promises about what they plan to achieve in the years to come, yet lack a tangible product people can try out now. Even those that have launched often suffer from poor graphics, a disappointing user experience, or a lack of quality content. This is a bigger problem than meets the eye. If a customer's first …

The number of U.S. trademarks filed related to cryptocurrencies, nonfungible tokens, Web3, and the metaverse since January have reportedly passed those in 2021. According to data compiled by intellectual property lawyer Mike Kondoudis on Tuesday, individuals and businesses filed more than 3,600 trademark applications with the United States Patent and Trademark Office for cryptocurrencies and crypto-related services as of Aug. 31, compared to 3,516 in 2021. In addition, Kondoudis reported that the number of nonfungible token, or NFT, applications had surged even higher — more than 5,800 in 2022 compared to 2,087 in 2021 — while the number of trademark …

South Korea continues its immersion in Web3 and the Metaverse. After investing almost $200 million in the creation of its own metaverse ecosystem and publishing the “Metaverse Ethical Principles,” the country’s government is now preparing a “Metaverse Industry Promotion Law.” As reported by local media on Sep. 1, Heo Eun-ah, a member of the National Assembly with an entrepreneurial past, proposed the enactment of the Metaverse Industry Promotion Act to support the Web3 industry. A number of other National Assembly members supported the Eun-ah proposal. According to the bill, the Metaverse Policy Review Committee, subordinate directly to the Prime Minister, …

The demand for organizations to adopt blockchain technology is growing rapidly. Recent findings from market research and advisory firm Custom Market Insights found that the global blockchain technology market size was valued at $4.8 billion in 2021, yet this amount is expected to reach $69 billion by 2030. While notable, it’s become critical for the industry to enable rigorous research into the development of the blockchain sector. Tim Harrison, vice president of community and ecosystem at Input Output Global (IOG) — the developer arm behind the Cardano blockchain — told Cointelegraph that during the past year, the blockchain ecosystem has …

A new NFT and metaverse project is being built on the Ethereum blockchain — with a cutting-edge difference that could set it apart from rivals. Astral Pioneers says it will enable players to own their own land, mine it for resources, and start building across 30 different planets. But it's the in-game governance mechanism that sets this project apart, as it's going to use soulbound tokens to represent and ensure citizenship. SBTs are a new approach to cryptoassets that has been championed by Vitalik Buterin, the co-founder of Ethereum. He was inspired by a feature found in World of Warcraft …

Luxury brand Hermès is laying the groundwork for its entrance to Web3 after filing a trademark application covering NFTs, cryptocurrencies, and the Metaverse. According to an Aug. 26 filing to the United States Patent and Trademark Office (USPTO), the trademark covers downloadable software to view, store and manage virtual goods, digital collectibles, cryptocurrencies, and NFTs “for use in online worlds.” It also filed trademarks for “retail store services featuring virtual goods” as well as fashion and trade shows in “online virtual, augmented or mixed reality environments” and for “providing an online marketplace for buyers and sellers of virtual goods.” Luxury …

In this week’s newsletter, read about Meta’s newest update on the integration of nonfungible tokens (NFTs) on Facebook and Instagram. Check out how the NFT trading volume on OpenSea has plummeted by 99% and how despite the downturns, digital artists still firmly believe in the future of NFTs. In other news, learn about the changes in participation in GameFi. And, don’t forget about this week’s Nifty News roundup featuring Taco Bell’s Metaverse wedding competition in collaboration with Decentraland. Meta announces Facebook and Instagram users can post NFTs from digital wallets Social media giant Meta has introduced NFTs on Facebook and …

The Metaverse is quickly becoming one of the most important places for companies and individuals looking to expand their reach. New findings from research firm MarketsandMarkets predict that the Metaverse market size will grow from $61.8 billion in 2022 to $426.9 billion by 2027. In addition, a recent report from Juniper Research links nonfungible token (NFT) growth to metaverse use cases. According to these findings, metaverse-related NFTs will experience an increase from 600,000 transactions in 2022 to 9.8 million by 2027. Given this potential, a number of regions across the globe have started to establish a virtual presence. For example, …