In a new report published by American-Japanese cybersecurity company Trend Micro, the firm says that the metaverse possesses increasing vulnerabilities that could materialize within the next three to five years. As told by Trend Micro, the top threats to the realm, mainly from a regulatory standpoint, include NFT security concerns, the development of a "Darkverse" similar to the dark web, financial fraud, privacy concerns, physical threats, AR threats, social engineering, and traditional IT attacks. With regards to NFTs, Trend Micro specifically wrote: "NFT ownership is verified using blockchains, which are susceptible to blockchain hijacking attacks. NFTs that rely on smaller …

The metaverse sector is witnessing its very-own housing crisis moment thanks to massive declines in the prices of its virtual lands in 2022, led by waning users' interest and a crypto bear market. Land sales plunge 85% in 2022 In particular, metaverse projects built on the Ethereum blockchain, including the Sandbox and Decentraland, have witnessed substantial declines in their valuations and other key metrics, data from WeMeta shows. For instance, the average price of lands sold across Decentraland peaked at $37,238 in February 2022. But as of Aug. 1, their costs had dropped to an average of $5,163. Similarly, the …

Sam Seo, the director of metaverse-focused blockchain Klaytn Foundation believes widespread adoption of the Metaverse will be “easier” if Web2 companies integrate the tech with their products and services. Speaking to Cointelegraph during the Korea Blockchain Week (KBW) on Aug. 8, Seo suggested that Web3 Metaverse projects generally have issues attracting a mainstream audience, as normal people often have a hesitancy to use new technology from companies that they have never heard of. “If new ideas are combined with Web2 platforms like [social media app] Kakao, especially in South Korea, there's accessibility to these new ideas for new services that …

It’s weird to think that anyone could look forward to downturns in the crypto market, but that is precisely the position held by many developers and project creators who enjoy the low-pressure environment that exists during a bear market. As the saying goes, bear markets are for building, and now is one of the best times to survey the landscape to see which sectors of the market are most active in designing the platforms that will soar to new heights in the next bull cycle. Here’s a look at five sectors of the blockchain ecosystem that may present some of …

The Otherside, a gamified metaverse project associated with the Bored Ape Yacht Club, is scheduled to deploy a technical demonstration of the first stage of the Otherside roadmap on Sunday, July 17 at 4 pm UTC. The First Trip experience will be exclusively accessible to Otherdeed land owners, known as Voyagers, and has been described by the platform as a “celebration of what’s to come and an opportunity for Voyagers to gather, explore and plan.” The company indicated that thousands of users could participate in the event, navigating through the curated arena of play that has been specifically designed for …

Innovation is endless in the crypto space. We've seen how play-to-earn has transformed the world of gaming, while move-to-earn rewards enthusiasts for staying active. And now, an exchange is exploring a whole new category: wear-to-earn. Tidex's new collection consists of 10,000 NFT T-shirts — each with unique features. While these garments are primarily virtual, lucky owners can also order a T-shirt that can be worn in the real world. Not only are they made of the highest quality, but 10 "super cool prints" are available — with deliveries available across the globe. As you can see, Tidex is capitalizing on …

Despite a backlash from a vocal part of the gaming community, a new survey has revealed one-third of gamers have expressed interest in using crypto in the Metaverse. And, more gamers than not believe that the Metaverse will have a positive impact on gaming. The survey was published on Wednesday by institutional software developer Globant. It was conducted by YouGov and polled 1,000 adult PC, console and/or mobile gamers last month, with 34% of respondents indicating an interest in conducting crypto transactions in Metaverse. The concept of play-to-earn (P2E) in the Metaverse is also relatively well received by gamers, with …

GameStop’s new nonfungible token (NFT) marketplace took home roughly $44,500 from transaction fees in the first 24 hours after it launched via a public beta on Monday. GameStop NFT reportedly generated around $1.98 million worth of NFT sales on its first full day of business. As the platform charges a 2.25% fee on NFT sales, this equates to roughly $44,500 worth of fees. While that sum may seem underwhelming, considering it would represent just 0.27% of GameStop’s daily revenue for 2021, it depends on the perspective. According to gaming news outlet Kotaku, GameStop had 4,816 stores across the U.S. at …

In this week’s newsletter, read about Playboy’s upcoming virtual mansion in The Sandbox (SAND). Check out how a startup is offering lifetime Netflix and Spotify access through nonfungible tokens (NFTs) and how NFTs can bridge gaming and blockchain. Additionally, learn how game company GameStop launched its own NFT marketplace. And, don’t forget about this week’s Nifty News roundup featuring an “Ape Now, Pay Later” scheme from a decentralized finance (DeFi) platform. Playboy to launch first ‘MetaMansion’ in The Sandbox Metaverse platform The Sandbox announced that it has partnered with lifestyle company Playboy to launch a digital version of the popular …

Blockchain gaming and venture studio Animoca Brands has closed another strategic funding round, giving the company additional resources to expand its acquisition targets in the metaverse sector. The company announced Tuesday that it has closed a $75.32 million funding round at a pre-money valuation of $5.9 billion backed by Liberty City Ventures, Kingsway Capital, Alpha Wave Ventures, 19T, SG Spring Limited Partnership Fund and others. The raise represents the “second tranche” of funding following a $358.8 million raise in January that was supported by venture giants Sequoia China, Winklevoss Capital, ParaFi Capital and 10T Holdings. Animoca said the new capital …

Dunamu, a major fintech firm in South Korea that operates crypto exchange Upbit and several other blockchain and securities platforms, is planning to invest 500 billion won ($380 million) to create about 10,000 new Web3 jobs in the next five years. The firm is reportedly considering offering specific software and funding to encourage more firms to join the Web3 industry. The $380 million investment is a part of Korea’s efforts to lead the Web3 race, reported Korea JoongAng Daily. Dunamu has already invested about 88 billion won ($67 million) since 2018 toward blockchain-centered firms. Dunamu CEO Lee Sirgoo said in …

According to a Monday announcement, this virtual version of the Playboy mansion will feature a host of gaming, social and programmed events, along with future nonfungible token (NFT) collectible releases from the firm. Iconic and raunchy “lifestyle brand” Playboy has teamed up with NFT-based Metaverse gaming platform The Sandbox to launch the MetaMansion. Anybunny home? We're teaming up with none other than.... @playboy! ‍♀️ Together, we will be creating a Playboy MetaMansion social game inside #TheSandbox with #NFT collectibles & special experiences for the Rabbitar @PlayboyNFTs community! pic.twitter.com/3l6Wq6ncvt — The Sandbox (@TheSandboxGame) July 11, 2022 The MetaMansion also builds on …