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Why isn't there a VR client yet for Decentraland or The Sandbox?

“VR has always been part of Decentraland’s vision,” a developer working on the platform’s VR client told Cointelegraph.

The Metaverse and Virtual Reality (VR) go hand in hand in the public’s imagination and platforms including Somnium Space, Crypto Voxels, and Meta’s Horizon Worlds already support the technology.

But despite describing itself as a “decentralized virtual reality platform” on its website, the browser-based 3D metaverse platform Decentraland still lacks VR.

Sean Ong, founder of extended reality specialists XR Dev Studio, sits on a team that has developed an “alpha” version of the VR platform. He explained that while “VR has always been part of Decentraland’s vision,” the Decentraland Foundation has been prioritizing the implementation of core features ahead of VR.

“The team that’s primarily been responsible for developing Decentraland, they’ve been super busy implementing so many features, the core features, building it out, that VR just hasn’t made it very far on the priority list.”

Ong is a member of Decentraland’s DAO and he and his team received grants after submitting a proposal to bring VR to the platform.

Decentraland’s “alpha” VR platform. Source: Sidequest

However, the funding only allowed them to create an alpha version of the VR client which was merely a "VR port" and thus lacked stability, he said.

Ong told Cointelegraph that the challenges in bringing VR to Decentraland were due to it being “fundamentally incompatible with VR.”

VR porting involves reworking the original code to make it compatible with another platform, and Ong notes that while this means you can save time and effort initially, the developer would need to make changes to the port whenever the main project is updated.

Building a dedicated VR client would take much longer, but this would insulate it from the main project which would make it more resilient in the long run, he explained.

Ong and his team asked for an additional $240,000 in funding via a Dec. 14 proposal to develop a dedicated VR client, however, the vote failed with more than three quarters voting no.

The Sandbox VR?

Cointelegraph also reached out to Sébastien Borget, co-founder of blockchain-based metaverse The Sandbox for his thoughts on virtual reality in the metaverse.

Borget suggested that while metaverses will eventually exist on VR, their priority for 2023 is mobile and they “have no immediate or future plans for VR.”

The Sandbox’s latest experience, Little Big Island ft. Puss in Boots. Source: The Sandbox

“We think VR technology is not mature or mainstream enough, so we focus on making the Metaverse more mainstream and accessible to all,” he said.

Related: Decentraland launches virtual property renting for LAND owners

Meanwhile, asked about recent criticism of Decentraland’s 8,000 daily active users, Ong notes that these numbers are still relatively low and that the platform should be aiming for millions.

“Metaverse these days is synonymous with VR,” Ong says, and he believes that Decentraland would be able to onboard many more users should it be able to bring virtual reality support to the platform, adding that “VR definitely has to be a major component” of a truly full-featured metaverse.

In an emailed response, the Executive Director of the Decentraland Foundation Agustin Ferreira stated that the DAO could eventually take over platform development, and the foundation aims to support community development and create “incentives for developers to add value to the entire ecosystem.”

Why isn't there a VR client yet for Decentraland or The Sandbox? Home Cryptocurrency Why isn't there a VR client yet for Decentraland or The Sandbox? “VR has always been part of Decentraland’s vision,” a developer working on the platform’s VR client told Cointelegraph. The Metaverse and Virtual Reality (VR) go hand in hand in the public’s imagination an...

French central bank governor pushes for crypto licensing ahead of EU laws https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDEvZDZhZDEyNDktYTlkYS00YjI4LWI2MzQtMjI0MTkzOGYyZDYyLmpwZw==.jpg

The Bank of France’s head said turmoil in the crypto markets proves the need to move to a mandatory licensing scheme for crypto firms "as soon as possible."

Francois Villeroy de Galhau, the Bank of France’s governor, has urged for more stringent licensing requirements for crypto companies in France, citing the current turmoil in the crypto markets.

During a speech in Paris on Jan. 5, the central bank governor said France shouldn’t wait for upcoming EU crypto laws to enact obligatory licensing for local Digital Asset Service Providers (DASPs).

The European Parliaments Markets in Crypto Assets bill (MiCA) provides a licensing regime for the EU amongst other regulations and is expected to come into force potentially sometime in 2024.

According to a Jan. 5 Bloomberg report, Villeroy addressed the country’s financial industry in his speech, stating:

“All the disorder in 2022 feeds a simple belief: it is desirable for France to move to an obligatory licensing of DASP as soon as possible, rather than just registration.”

Currently, crypto businesses providing crypto trading and custody are required to be “registered” with the Financial Markets Authority (AMF), the country’s market regulator.

A DASP license is optional, with those licensed forced to comply with a slew of requirements related to business organization, conduct and financing.

However, out of the 60 AMF-registered crypto firms, none are currently licensed as a DASP.

Villeroy speaking in Dec. 2017 on a panel in Paris. Image: The Jacques Delors Institute

The call from Villeroy comes after an amendment was proposed in Dec. 2022 by Senate finance commission member Hervé Maurey to eliminate a clause allowing companies to operate unlicensed.

Current laws in France allow firms to operate unlicensed until 2026 even if, or when, MiCA passes into law and establishes a licensing regime.

Deliberations in parliament regarding the amendment will begin in January.

Related: French regulator AMF blacklists only 2 crypto websites in the whole year

MiCA has been grinding its way through the EU parliament since Sep. 2020.

On Oct. 10, 2022, it passed the European Parliament Committee on Economic and Monetary Affairs (ECON), 2022 as a result of trialogue negotiations between the EU Council, the European Commission and the European Parliament.

The final Plenary vote for MiCA was rescheduled from the end of 2022 to Feb. 2023. European Parliament member Stefan Berger explained to Cointelegraph in Nov. 2022 the reason for the delay was “the enormous amount of work for the lawyer linguists, given the length of the legal text.”

from Cointelegraph.com News https://ift.tt/06GwcRV

French central bank governor pushes for crypto licensing ahead of EU laws Home Cryptocurrency French central bank governor pushes for crypto licensing ahead of EU laws The Bank of France’s head said turmoil in the crypto markets proves the need to move to a mandatory licensing scheme for crypto firms "as soon as possible." Francois Villeroy de Galhau, the Bank of France...

Mutant Ape Planet creator arrested in NY for alleged $2.9M NFT 'fraud' https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDEvOTgwZWFiNzYtNzFiOS00NmI4LWJkMDItZjU5NmI2ZmU2YzJmLmpwZw==.jpg

The developer of a Mutant Ape Yacht Club knock-off collection has allegedly “defrauded” investors of $2.9 million and admitted to a rug pull.

The developer of a Mutant Ape Yacht Club knock-off collection — Mutant Ape Planet — has been arrested in New York, charged with allegedly “defrauding” investors of $2.9 million in a "rug pull scheme."

The arrest took place on Jan. 4 at the John F. International Airport in New York, with homeland security agent Ivan J. Arvelo alleging that French national “Aurelien Michel perpetrated a rug pull scheme” and stole “nearly $3 million from investors for his own personal use," stating:

“Purchasers of Mutant Ape Planet NFTs thought they were investing in a trendy new collectible, but they were deceived and received none of the promised benefits”

Internal Revenue Service agent Thomas Fattorusso was also cited in a press release from the Department of Justice, alleging that “Michel defrauded investors by making false representations of, amongst other things, giveaways, tokens with staking features, and merchandise collections,” before withdrawing the funds once the NFTs were sold out.

According to the statement, Michel is understood to have admitted to the community via a social media chat that he had perpetrated a rug pull, saying “we never intended to rug but the community went way too toxic.”

The collection — a knock-off of the popular Mutant Ape Yacht Club NFT collection — consists of 6,797 NFTs stored on the Ethereum blockchain with 567 Ether (ETH) worth of sales but has seen its average price and sales volume crater since it launched in Jan. 2022.

Sales of the Mutant Ape Planet NFT collection. Source: Opensea

Following the arrest, holders of the collection have been sharing their side of the story via Twitter, noting that James had attempted to blame his departure on the community who were becoming skeptical due to the lack of activity.

When I’m reality what was happening was the founders were actually not holding to their promised utility leading in to people losing trust and then one day the founders completely disappeared with no notes, nothing. Things went sideways here as lots of people left the community-

— PerfectElectro () January 5, 2023

The project has since been taken over by the community who is attempting to breathe some life back into it, spearheaded by a user with the pseudonym HTMadge.

A screenshot of discussions between community members. Source: Discord.

According to a Dec. 21 DappRadar report, Rug pulls — a type of exit scam where the creators of a project suddenly withdraw liquidity from the platform —were the most common type of attack throughout 2022, accounting for 119 incidents and $200 million in stolen funds.

Related: Magic Eden to refund users after fake NFTs sold due to exploit

Popular influencer and former adult film star Lana Rhoades was accused of being behind one of the bigger rug pulls of 2022, after reportedly walking away with $1.5 million from sales of an NFT project which has seen less than 1 ETH worth of sales since its Feb. 2022 launch.

from Cointelegraph.com News https://ift.tt/98B3fkC

Mutant Ape Planet creator arrested in NY for alleged $2.9M NFT 'fraud' Home Cryptocurrency Mutant Ape Planet creator arrested in NY for alleged $2.9M NFT 'fraud' The developer of a Mutant Ape Yacht Club knock-off collection has allegedly “defrauded” investors of $2.9 million and admitted to a rug pull. The developer of a Mutant Ape Yacht Club knock-off collection ....

Asia Express: China’s NFT market, Moutai metaverse popular but buggy…

After a one-year hiatus, Our Man in Shanghai returns, but hes no longer based in Shanghai (the crypto crackdown was a factor in the columns retirement), so a rebranding is in order. This space is now called Asia Express, and its a weekly roundup of news from mainland China and Taiwan and the rest of Asia too. Check in each Friday for news about Asias more influential projects, changes in the regulatory landscape and enterprise blockchain integrations. Much has changed since the last edition on Dec. 17, 2021. Without further ado, lets dig in.

Chinas national NFT market

The countdown to Chinas first national NFT marketplace begins. Source: Cdex

In a joint effort between the state-owned Chinese Technology Exchange, the state-owned Art Exhibitions China and the corporation Huban Digital Copyrights Ltd, Chinas first national NFT marketplace is scheduled to come online this week.

Its designed as a secondary market for trading digital collectibles, along with copyrights for digital assets. Perhaps unsurprisingly, its built on Chinas national Wenbao, or cultural protection blockchain, which helps verify the authenticity of artifacts and commercial goods. Currently, only the NFT platforms landing page is accessible.

1,400 blockchain firms in China

On Dec. 29, the state-owned China Academy for Information and Communications Technology, or CAICT, disclosed in its national white paper that over 1,400 blockchain firms are operating in the country despite strict regulations. Together, Chinese and U.S. blockchain firms account for 52% of such entities globally. In one example of distributed ledger applications in public service, CAICT researchers wrote:

[In the] Zhejiang Provincial blockchain electronic invoice platform, [authorities] used blockchains multiple access point and decentralized process capabilities, along with technological highlights such as smart contracts, to improve the trust verification across various departments. This led to the digital circulation of electronic invoices; their issuance, receipt, inspection, reimbursement, and improved the information management level and service capabilities of electronic invoices in financial departments.

Similarly, local news outlet Shanghai Securities News reported that the digital yuan central bank digital currency, or e-CNY CBDC, surpassed 104.8 billion Chinese yuan ($15.21 billion) in usage in the province of Zhejiang since its inception in April. Provincial residents have opened 24.14 million e-CNY wallets, and authorities claimed to have distributed 3.5 billion yuan ($510 million) in tax refunds via the e-CNY to residents as an experiment. Despite the results, experts such as former Chinese central banker Xie Peng said that usage has been low for the CBDC.

Kunmings blockchain KPIs

On Dec. 30, the City of Kunming published its three-year plan for municipal digital economy development. The report set a 25% annual growth target for the citys digital economy to surpass 500 billion yuan ($72.58 billion) in two years. In addition, local-level communist party officials must meet collective key performance indicators of incubating at least 20 blockchain-specific applications and encouraging the development of at least 10 strongly competitive and technologically advanced blockchain firms by the end of 2024. Please implement [them] fully and completely, the document states.

Moutais metaverse hits 1 million users

The Moutai metaverse experience. Source: 68h5.com

On Jan. 1, popular Chinese liquor distiller Moutai and internet technology firm WangYi launched their joint metaverse Xunfeng World on the Apple App Store. Developers designed the experience based on the Moutai distilleries in the Guizhou province. Players can interact with one another and distillers to learn the traditional Moutai-making experience.

Just two days later, its registered users surpassed 1 million, with the app ranking No. 1 in the e-commerce category in China. However, the app only had a rating of 2.4/5 at the time of writing, with users complaining about in-game features, excruciating wait times for Know Your Customer verification, login difficulties and poor customer service. One user wrote:

There is no customer hotline, there is no customer service, and I dont even know where to solve the problem. I looked forward to joining from the waitlist, but I could never pass KYC on the day of the apps release. Whats wrong? Im literally begging you to take my money so I can play this game, but it seems you dont want it?

Hong Kong crypto scams worsen

Hong Kong cityscape. Source: Pexels

Currently, Hong Kong residents cannot trade cryptocurrencies unless they are classified as professional investors or have at least 8 million Hong Kong dollars ($1.02 million) in bankable assets. However, these regulations have done little to curtail the rise of crypto scams.

A recent Hong Kong police report cited by Rthk.hk revealed that in the first 10 months of 2022, the special administrative region recorded 1,503 cases of investment scams involving total assets of $98.5 million, up 10% from the same period last year.

About 70% of the scams were classified as involving crypto. One victim, Mr. Lee, reportedly lost 180,000 HKD ($23,000) after being contacted by a representative claiming access to exclusive insider information on the price of SUSHI tokens. Mr. Lee later called the police after his supposed trading account was removed without explanation.

Square Enix all in on blockchain

In an annual letter published on Jan. 1, Yosuke Matsuda, president of Japanese gaming giant Square Enix, said that the company would shift its business focus to blockchain entertainment. The move follows Square Enixs announcement on May 3 that it would sell its blockbuster video game franchise Tomb Raider and use the proceeds to invest in new initiatives such as blockchain, though it still retains other popular franchises such as Final Fantasy. Matsuda wrote:

I think it is fair to say that blockchain gained significant recognition as a field in 2022, as evidenced by Web 3.0 becoming a firmly established buzzword among businesspeople. However, the year also saw volatility in the cryptocurrency and NFT markets that tracked the dramatic shifts in the macroeconomy described above.

Matsuda also said that aside from monetization, blockchain and NFTs should be delivering new experiences and excitement to customers and that the company had multiple blockchain games based on original IPs under development. In its latest filing, Square Enix reported 163 billion Japanese yen ($1.23 billion) in revenue and 39.4 billion yen ($297 million) in profit for the first six months to Sept. 30.

Its been an amazing year of games and 2023 is looking even better!

Heres a message from all of us at Square Enix wishing you a Happy New Year!

— Square Enix () December 31, 2022

Asia Express: China’s NFT market, Moutai metaverse popular but buggy… Home Cryptocurrency Asia Express: China’s NFT market, Moutai metaverse popular but buggy… After a one-year hiatus, Our Man in Shanghai returns, but hes no longer based in Shanghai (the crypto crackdown was a factor in the columns retirement), so a rebranding is in order. This space is now called...

Fanatic sells 60% stake in Candy Digital amid 'imploding NFT market' https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDEvMGFhNjQ4ZmUtMmJhZi00N2RkLTk4NGMtNDllODE2MjM3OWE4LmpwZw==.jpg

The sports merchandise giant has got cold feet in the shrinking NFT market.

Sports merchandise firm Fanatics is divesting its stake in nonfungible token (NFT) company Candy Digital as confidence in the asset class wanes.

On Jan. 4, it was reported that Michael Rubin’s sports company Fanatics was offloading its majority 60% stake in the NFT startup.

Fanatics was started in 2011 and has become a known name in sports merchandising and e-commerce, valued at $31 billion.

MLB ICON Leadoff NFT Collectibles, launched by Candy Digital in Apr. 2022 Source: MLB

However, the crypto bear market has hit the NFT sector hard in 2022, and Rubin’s firm is seemingly now looking to turn away from “standalone” NFT businesses.

The investor group led by Novogratz’s Galaxy Digital will be purchasing the stake in Candy Digital, according to CNBC. In an email shared with the outlet, Rubin wrote:

“Over the past year, it has become clear that NFTs are unlikely to be sustainable or profitable as a standalone business.”

He stated that divesting ownership in Candy Digital “allowed us to ensure investors were able to recoup most of their investment via cash or additional shares in Fanatics.”

This was a favorable outcome for investors “especially in an imploding NFT market that has seen precipitous drops in both transaction volumes and prices for standalone NFTs,” he added. NFTs alone would not create much value, according to Rubin, who said:

“We believe digital products will have more value and utility when connected to physical collectibles to create the best experience for collectors.”

Fanatics acquired Topps trading cards for roughly $500 million in Jan. 2022. Furthermore, it acquired the rights to produce Major League Baseball trading cards and then NFTs following the launch of Candy Digital last year.

Related: What remains in the NFT market now that the dust has settled?

Fanatics raised $700 million in fresh capital in Dec. 2022. The funding will be used on potential merger and acquisition opportunities across its collectibles, sports betting, and gaming businesses, according to CNBC.

Candy Digital secured $100 million in funding in Oct. 2021 with a valuation of $1.5 billion at the time.

However, the NFT markets have shrunk considerably during the 2022 crypto winter. According to the Nonfungible.com market tracker, daily sales volumes have slumped from over 100,000 sales in January 2022 to around 15,000 today.

Cointelegraph reached out for comment from Fanatics and Candy Digital but had not received a reply at the time of publication.

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Fanatic sells 60% stake in Candy Digital amid 'imploding NFT market' Home Cryptocurrency Fanatic sells 60% stake in Candy Digital amid 'imploding NFT market' The sports merchandise giant has got cold feet in the shrinking NFT market. Sports merchandise firm Fanatics is divesting its stake in nonfungible token (NFT) company Candy Digital as confidence in the asset cla...

SEC files objection to Binance.US’s plans to acquire Voyager Digital https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDEvNDhiY2UwZTEtZDg1ZC00YTFmLWIxZjQtYmJjOWExYmNlYmM4LmpwZw==.jpg

The SEC wants to see more information included in the $1.022 billion deal between Binance’s U.S. arm and Voyager Digital before it agrees to the acquisition.

The United States Securities and Exchange Commission (SEC) has filed a “limited objection” to crypto exchange Binance.US’s proposed $1 billion takeover of bankrupt crypto lender Voyager Digital, citing a lack of “necessary information.”

The limited objection was filed on Jan. 4, with the SEC pointing to a lack of detail regarding Binance.US’s ability to fund the acquisition, what Binance.US’s operations would look like following the deal, and how customer assets will be secured during and after the transaction.

A limited objection is similar to a normal objection but only applies to a specific part of the proceedings.

Additionally, the regulator also wants Voyager to provide more detail on what would happen should the transaction not be consummated by Apr. 18.

In its filing, the SEC said it already communicated its concerns with Voyager and the lender intends to file a revised disclosure statement prior to a hearing on the matter.

Some commentators interpreted the objection as the SEC suggesting Binance.US would not be able to afford the acquisition without “some untoward dealing” such as receiving funds from Binance’s global entity.

SEC basically objecting on the grounds that Binance US couldn’t have this size of assets without some untoward dealing (likely with parentco)

Which would mean a commingling of the US entity. So if Binance fights it they risk US exposure… https://t.co/9wW6eRTol7

— Adam Cochran (adamscochran.eth) () January 4, 2023

While Binance CEO Changpeng Zhao (CZ) has publicly stated that Binance.US was a “fully independent entity,” an Oct. 17 Reuters report alleged that the U.S. entity acts more like a “de facto subsidiary” which was created to “insulate Binance from U.S. regulators.”

In response to the allegations, CZ suggested in an Oct. 17 blog that Binance was committed to complying with regulators, that the author of the article was reporting in a biased manner and had used a presentation provided by an external consultant which was never implemented as evidence for these claims.

Related: ‘Binance is the crypto market:’ Arcane crowns the exchange 2022’s winner

Voyager announced on Dec. 19 that it had agreed to Binance.US’s bid to acquire its assets, in a deal worth $1.022 billion in total.

The lender noted in a press release that the bid was the “highest and best bid for its assets,” which would maximize the value returned to customers and creditors “on an expedited timeframe.”

Voyager previously announced on Sep. 27 that FTX.US had won the auction for its assets with an offer of $1.4 billion which would have seen customers recover 72% of their frozen crypto, in a deal that has since fallen through.

from Cointelegraph.com News https://ift.tt/UEDwxCk

SEC files objection to Binance.US’s plans to acquire Voyager Digital Home Cryptocurrency SEC files objection to Binance.US’s plans to acquire Voyager Digital The SEC wants to see more information included in the $1.022 billion deal between Binance’s U.S. arm and Voyager Digital before it agrees to the acquisition. The United States Securities and Exchange Commiss...

Celebs who got burned endorsing crypto and those that got away with it https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDEvMDZjZjcyNjYtNDUyOS00YTMyLWIzNmYtZjY3MTliNWMxOTVmLmpwZw==.jpg

Screen actors and sports stars copped most of the backlash for 2022’s crypto endorsements, while soccer legends appear to have gotten away with it.

Celebrities had a shaky year promoting crypto firms and projects throughout 2022.

Many found themselves named in lawsuits over their alleged promotion of since-failed projects, while others have been relentlessly mocked on social media for their involvement in the first place.

From movie stars to television actors, sports stars to musicians, many celebrities may be regretting their endorsement deals last year, though that’s not to say that there haven’t been exceptions.

Who got burned?

In February last year, American comedian Larry David, who co-created the television series Seinfeld, appeared in a Super Bowl commercial for now-defunct crypto exchange FTX that encouraged users not to “miss out on the next big thing.”

David has since been named in a class-action lawsuit that alleges that he, along with other celebrities, had promoted FTX to unsophisticated investors without performing any due diligence on the exchange.

He’s also being investigated by the Texas State Securities Board regard payments received by FTX for his endorsements, among other celebrities.

Meanwhile, the movie star known for his role in the “Bourne Identity” film series, Matt Damon, has continued to be mocked for his part in the $100 million promotional campaign for Crypto.com.

Damon was even satirized by the animated series South Park in the season 25 premiere in February 2022.

If you bought $1,000 of bitcoin the day Matt Damon's "Fortune favors the brave!" commercial came out, it would now be worth $375 pic.twitter.com/rp5IdjBD3m

— Jon Schwarz () June 13, 2022

In the sporting world, Japanese tennis player Naomi Osaka signed on to be an ambassador for FTX on March 21.

Like Seinfield’s co-creator, Osaka is also named in a lawsuit along with other high-profile celebrities who endorsed FTX including basketball legends Shaquille O’Neal and Stephen Curry, and NFL quarterback Tom Brady.

Professional boxer Floyd Mayweather was also named in a crypto promotion lawsuit in 2022 over his alleged promotion of EthereumMax, though the lawsuit was eventually dismissed by a federal judge in December.

Click “Collect” below the illustration at the top of the page or follow this link.

In the world of music, American rapper and hip hop artist Snoop Dogg has been named in a class action lawsuit for allegedly promoting Bored Ape Yacht Club nonfungible tokens (NFTs), along with other musicians including Madonna, Justin Bieber, Post Malone and DJ Khaled.

The lawsuit names over 40 people and companies as defendants, also including Tennis professional Serena Williams, actress Gwyneth Paltrow and comedians Jimmy Fallon and Kevin Hart.

Who got away with it

Interestingly, not all celebrity endorsements of crypto firms have been viewed in a negative light, nor have they attracted the scrutiny of class-action lawyers.

On Jun. 30, 2022, Binance announced it had snapped up the popular TikTok personality, Khaby Lame, as an ambassador.

The deal was seen as positive for the crypto sector, as Lame’s ambassador deal is part of Binance’s mission to increase Web3 awareness and adoption around the world.

Musician DJ Steve Aoki jumped into the NFT world with fantasy sports and sports betting operator DraftKings announcing the hitmaker as the brand ambassador for its NFT market.

Related: Tom Brady and other celebrities named in class-action lawsuit against FTX

American rapper Eminem performed alongside Snoop Dogg during the VMA’s to perform their NFT track "From The D 2 The LCD" featuring Otherside and Bored Ape NFTs.

In the sporting world, David Beckham became the global ambassador for blockchain company DigitalBits, launching his own range of NFTs in the process.

He appears to have avoided any accusations of wrongdoing despite the founders of DigitalBits being accused in an investor lawsuit for “diverting money needed for development” to expensive sports deals and luxury travel, according to a January 2022 report from The New York Times.

Meanwhile, legendary soccer player Lionel Messi has done deals with Singapore-based Bitget, fantasy sports platform Sorare and digital fan token company Socios.com.

Cristiano Ronaldo's foray into crypto sponsorship also appears to have gone down well in the community, working with Binance for the launch of an exclusive NFT collection allowing collectors the chance to receive perks including a personal message from Ronaldo and signed merchandise.

from Cointelegraph.com News https://ift.tt/BtYWKR5

Celebs who got burned endorsing crypto and those that got away with it Home Cryptocurrency Celebs who got burned endorsing crypto and those that got away with it Screen actors and sports stars copped most of the backlash for 2022’s crypto endorsements, while soccer legends appear to have gotten away with it. Celebrities had a shaky year promoting crypto firms and pro...