FINRA metaverse warning, Lazarus NFT attack, Thiel backs NFTs: Nifty Newsletter

by

As a seasoned crypto investor with over a decade of experience navigating the ever-evolving digital asset landscape, I can’t help but feel both exhilarated and cautious as I absorb this week’s news.

This week’s newsletter discusses several key topics:

FINRA says rules still apply in the metaverse

FINRA published a report providing potential regulatory implications for finance and securities companies that operate in the metaverse. The non-governmental, self-regulatory organization said that members of FINRA should be mindful of the metaverse’s implications to their regulatory obligations. 

According to the report, it’s projected that the worldwide income from the metaverse could hit approximately $800 billion by 2024. Furthermore, this virtual space may potentially add more than $3 trillion to the global economy’s overall output, or GDP, by 2031.

Lazarus Group exploited Chrome vulnerability with fake NFT game

A North Korean cybergroup, known as Lazarus, tricked users by creating a sham Non-Fungible Token (NFT) game. This deception allowed them to exploit a weakness in Google Chrome’s browser system. The cunning scheme enabled them to surreptitiously install spyware designed to grab cryptocurrency wallet information from unsuspecting users.

The team’s game, known as DeTankZone or DeTankWar, was playable across various social media sites and featured Non-Fungible Tokens (NFTs) as in-game items. A vulnerability in the game was brought to Google’s attention by Kaspersky Labs analysts, prompting them to apply a solution to the issue.

Peter Thiel’s fund pushes Infinex NFT investments to $67.7 million

Investments in Infinex’s NFT collection, known as Patrons, surpassed $67.7 million. This was possible with the backing of the Founders Fund led by billionaire and ex-PayPal CEO Peter Thiel. Additionally, the platform has declared that beginning October 28th, Patron NFTs can be withdrawn and subsequently listed for sale on marketplaces like OpenSea in the secondary market.

Investments persisted, even with a widespread slump in the Non-Fungible Token (NFT) market. Notably, the minimum value of the renowned CryptoPunks Blue-chip collection has dropped by 76% from its highest appraised worth. Similarly, the floor price for Bored Ape Yacht Club NFTs has plummeted by a staggering 91% from their peak valuation.

Independence Day director creating TV series based on Web3 game

Renowned movie director Roland Emmerich, best known for movies like “Independence Day,” “The Day After Tomorrow,” and “Godzilla,” is currently developing a live-action television adaptation based on the Web3 game titled Space Nation.

The game allows players to take on the role of space captains. It features Web3 elements, including NFTs that can be bought, sold and traded. 

Read More

2024-10-30 22:19