Read about how the Metaverse integrates touch and smell in this week’s newsletter.Check out how Non-Fungible Token (NFT) Project Moonbirds plans to become a global brand and how NFT marketplace Magic Eden refunds users affected by recent exploits. In other news, find out how to solve the problem of NFT image hosting, according to NFT industry executives. Also, don’t forget this week he warned gamers on Nifty News about the fake He Pokemon NFT game spreading malware.
The next big thing in the metaverse at CES 2023 is touch and smell.
One of the drivers for the Metaverse to generate $5 trillion in value in 2030 is the development of more human experiences. With the addition of smell and touch to the virtual reality (VR) experience at the 2023 Consumer Electronics Show (CES), the Metaverse will be able to offer users a more positive experience.
The Metaverse-focused company showcased a VR headset with cartridges containing eight different scents. Aromas can be blended to create different scents. The VR headset will be released later this year.
Bluechip NFT Project Moonbirds Signs With Hollywood Talent Agent UTA
Proof, the company that built the Moonbirds NFT project, has signed a representation agreement with United Talent Agency (UTA), a Hollywood talent agency representing a variety of artists and other professionals.
According to Proof founder Kevin Rose, the goal of the move is to make the Moonbirds brand not just a big name within Web3, but a “global” scale. Mr. Rose emphasized that UTA has a lot of manpower and connections in various fields and can turn Moonbirds into a global brand.
Magic Eden refunds users after exploit sells fake NFTs
A recent exploit at NFT marketplace Magic Eden saw the platform promise to refund users who sold fake NFTs on its website. According to the company, a bug within the activity indexer could have allowed fake NFTs to bypass validation and be listed in the genuine collection.
The platform highlighted that it solved the problem of unverified NFTs showing up as verified by disabling entry points for rogue NFTs. The NFT Marketplace has also promised to refund those affected by the exploit.
Industry Seeks Solution to NFT Image Hosting Disaster
Regarding the recent image hosting incident in the Web3 space, Cointelegraph reached out to several industry experts who worked in the NFT space to provide insight into potential solutions to the problem.
From using trusted blockchains to exploring storage technologies available on Web3, executives in the NFT space gave Cointelegraph their views on how NFT projects can avoid NFT image hosting issues.
Nifty News: Fake Pokémon NFT game spreads malware, ‘Jai Ho’ singer launches metaverse and more
Hackers used a deceptive NFT game similar to Pokemon to spread malware targeting gamers. This site provides an NFT marketplace and a way to stake NFTs. However, according to cybersecurity experts, the site is a phishing site. Meanwhile, according to his Cryptoslam data from his aggregator Marketplace, his NFT sales increased by 26% in the first seven days of the year, showing some positive moves early in the year.
Thanks for reading our digest of the week’s most notable developments in the NFT space. Check back next Wednesday for reports and insights on this actively evolving field.