Welcome to the first of Reed Smith’s DigiDigest series on all things Metaverse and Web3. These monthly briefs cut through the noise and put the most talked about news and updates in the Metaverse and Web3 at your fingertips.
Here is the best of February 2023:
Principles to check
Major brands have spent millions on advertising the NFL’s Super Bowl
There are no cryptocurrency announcements this year (unlike last year), but some major powers have built activities related to the Metaverse around the Big Game. For example, the Doritos ‘Super Bowl’ commercial was sponsored by Doritos’ entertainment in its campaign at Doritos Triangle Studios in Decentraland. The NFL and Intuit created a Saweetie concert on Roblox. Blockchain gaming company Limit Break has announced a free NFT offering to support its game DigiDaigaku. After the game, these DigiDaigaku NFTs rose to $460 in value on OpenSea, the crypto-asset market.
Token-gated players have been tested on Spotify
Spotify is testing NFT-gate playlists, where NFT token holders will be given exclusive access to certain playlists. iPhone users cannot access this feature, only Spotify Premium users. Spotify has a history of experimenting in the NFT space, as shown by its 2022 feature that will allow artists to publish their artwork.
The Super PUMA exudes vintage appeal
As it approaches its 75th anniversary, sneaker brand PUMA has announced a 10,000-strong NFT (ready-to-print) collection featuring its iconic 1970 model, the Super PUMA. This is not PUMA’s first foray into Web3. In addition to the first NFT drops, in September, PUMA launched its own Metaverse server, “Black Station,” which acts as a hub for its Web3, phygital and Metaverse content.
Dating in the Metaverse … with Paris Hilton
To coincide with Valentine’s Day, Paris Hilton’s 11:11 Media and The Sandbox launched “Parisland,” a romantic adventure set on a wild island that sees players enter a gaming info show hosted by Paris Hilton in the Metaverse.
Completely legal
Jury decides in favor of Hermès in MetaBirkin NFT case
On February 28, after three days of deliberation, a Manhattan federal jury issued a verdict finding artist Mason Rothschild liable for defamation and defamation. to Hermès International’s BIRKIN brands for its signature Birkin bag along with its so-called “MetaBirkin” NFT collection, and for illegal cybersquatting. on the domain name MetaBirkins.com. The jury’s decision creates a first of its kind that will guide not only NFT manufacturers but also token holders looking to protect their intellectual property in the popular and widespread NFT Wide Web3.
Read more about the case at reedsmith.com.
NBA Top Shot times can be securities (not registered) and Emoji-speak can provide financial advice.
Dapper Labs, the maker of the National Basketball Association’s Top Shot NFTs, will face a lawsuit over the sale of unregistered securities after federal judge Victor Marrero agreed to Dapper Labs’ request to dismiss the case. In particular, as part of the ruling, Marrero suggested that today’s emoji-literate consumers could take the NBA’s use of the “rock ship,” “letter stock photo” and “moneybags” emojis on his NBA Top Shot Twitter account as money advice. , according to Marrero, these signs show “one thing: return on investment.”
Read more at bloomberglaw.com and cointelegraph.com.
The final limit
Tech companies enter into agreement for ‘Japan Metaverse Economic Zone’
A group of prominent Japanese technology companies, Fujitsu and Mitsubishi, have joined a new agreement, called the “Japan Metaverse Economic Zone,” to promote the country’s Metaverse sector. The agreement also includes the development of an open Metaverse technology called “Ryugukoku,” which will spark a new wave of Metaverse development, such as creating interoperable tools for users and developers.
Read more at cointelegraph.com.