In this week’s newsletter, we have some exciting news to share. First, we’ll take a look at Captain Tsubasa’s groundbreaking nonfungible token (NFT) game, which recently made its debut on the Oasys blockchain. We’ll also dive into the fascinating metaverse launched by a Korean university in collaboration with LG, a prominent telecom company. Additionally, we’ll explore the impressive growth of blockchain gaming investments in April, which nearly reached the $1 billion mark. And of course, we can’t forget the recent lawsuit faced by fashion brand Dolce & Gabbana over alleged delays in NFT delivery. Lastly, we’ll discuss an alleged NFT scam involving an artificial intelligence (AI) company, as exposed by Coffeezilla, a well-known YouTube reporter.
Let’s start with the metaverse experience launched by LG Uplus and Yonsei University in South Korea. Known as “Meta Yonsei,” this virtual world accurately recreates the university’s Sinchon campus, allowing users to explore various iconic landmarks like the auditorium and library. While the metaverse is open to the public, certain features and areas are exclusively accessible to verified students.
Moving on to the gaming world, Captain Tsubasa, a beloved Japanese manga, has made its mark in the NFT space with the launch of its soccer game on the Oasys blockchain. This exciting development was announced by Oasys, a blockchain platform dedicated to gaming, on May 20. The Web3 game, originally unveiled in 2022, was officially released on January 12, 2023. Moreover, a governance token for the game was introduced on June 4, 2023.
Shifting our focus to investments in blockchain gaming, a recent report from DappRadar and the Blockchain Gaming Alliance reveals that the sector experienced a significant influx of funds in April, totaling nearly $1 billion. This surge in investments marks the highest amount of capital flowing into blockchain gaming since January 2021. Notably, metaverse projects also showed promising signs of growth, with NFT metaverse Mocaverse boasting an impressive trading volume of $8.4 million.
In the world of NFTs, Dolce & Gabbana, a renowned fashion brand, and UNXD, a leading Web3 platform, are facing a class-action lawsuit due to a reported delay in NFT product deliveries. The lawsuit alleges that the assets suffered a drastic 97% loss in value as a result of these delays. One dissatisfied customer, Luke Brown, claims to have purchased DGFamily NFTs for $6,000, only to receive them over a week late, resulting in a loss of $5,800 in value.
Lastly, Coffeezilla, a popular YouTube reporter, has exposed an alleged NFT scam involving an AI company called Rabbit. In a video, Stephen “Coffeezilla” Findeisen accuses Rabbit of raising funds for an NFT project and failing to deliver on its promises before transitioning to AI. Findeisen points out striking similarities between Rabbit’s new AI product, Rabbit R1, and the failed NFT project, stating that the AI venture appears to be built upon the foundations of the previous scam.
Thank you for joining us for this week’s digest of noteworthy updates in the NFT space. We look forward to sharing more reports and insights with you as this rapidly evolving landscape continues to unfold.