Technology, Media & Telecommunications

Game developers have been increasingly integrating cryptocurrency and Non-Fungible Tokens (NFTs) within their games hoping these digital assets will increase their games’ longevity with an expanded content offering. But, early feedback suggests these features risk fan-blowback so developers are advised to proceed deliberately.

Questions remain as to what the financial impacts of the Metaverse will be, and what will drive the potential trillion-dollar online economy. The answer can be found in blockchain technology, with cryptocurrencies like Bitcoin and Ethereum acting as the money used to purchase the stuff that makes up the Metaverse—digital assets in the form of NFTs.

The Marshall Islands passed an amended Non-Profit Entities Act 2021, allowing any DAO to register and begin operations in the country.

It’s no secret that scarcity (real or perceived) can drive demand, remember beanie babies? In the last year, there has been a surge of Non-Fungible Token (NFT) trading volume, much attributable to popular projects with limited numbers such as CryptoPunks, Bored Ape Yacht Club, and Meebits, which are essentially collections of unique images whose ownership is proven by an NFT. While this all may seem silly, NFTs are not a fad or transient internet phenomenon. They may enable fads that lead to asset bubbles, but NFTs are simply certificates that prove ownership of an asset—which can be anything from clipart of a rock to a patent—and are here to stay.

Polymarket will wind down existing contracts and pay $1.4 million to settle U.S. regulators’ allegations it offered illegal trading.

Videogame industry leaders have been optimistic about the endless possibilities of the metaverse, Non-Fungible Tokens (NFTs), and blockchain technology despite relatively recent developments.

As we discussed in our prior post, Blockchain and Cryptocurrency: The Future of Online Gambling?, the blockchain technology offers the online gambling industry security, privacy, efficiency, and cost-effectiveness. While some online casinos have authorized cryptocurrency payments, others have gone further by building platforms entirely on the blockchain.

Concerns regarding the application of securities laws, such as those banning “wash trading,” are increasing given the popularity of Non-Fungible Tokens (NFTs) and cryptocurrency transactions, and Chairman Gensler’s recent remarks on the regulation of these assets.

Decentralized Autonomous Organizations (DAOs) are one of many white-hot blockchain topics promising to bring a blockchain-based method for managing any organization in a decentralized automated way. Adding to the intrigue, DAOs are often associated with the creation of a proprietary blockchain token. This is a first in a series of articles exploring the business and legal ramifications of these intriguing new organizations.