In this week’s newsletter, read how non-fungible tokens (NFTs) on the Magic Eden marketplace showed “unpleasant pictures.” Read about Final Fantasy developer Square Enix’s aggressive investments in blockchain gaming and how Play to Win (P2E) will transition from growth to maturation. In other news, check out metaverse developments throughout 2022. And don’t forget this week’s Nifty News featuring the surge in Solana NFT trading volume.
‘WHAT did I just witness?’ Magic Eden shows porn after hosting service was hacked
Solana-based NFT marketplace Magic Eden recently reassured its users that their NFTs are safe after pornographic images were detected on its trading platform on January 3. The marketplace told its users that it was not hacked. Instead, the third-party service provider hosting images within the platform was “compromised.”
Tweets posted by Magic Eden users pointed out to the platform that pornographic images were sometimes uploaded to a collection page instead of NFT thumbnails. Other users reported seeing footage from The Big Bang Theory TV series instead of the correct NFT footage.
Final Fantasy Creator Reveals “Aggressive Investment” In Blockchain Games
Square Enix, the creators of the popular Final Fantasy series of games, said that blockchain gaming would be one of their main strategies going forward. In a letter outlining the company’s milestones in 2022, company president Yosuke Matsuda explained that his plans for 2023 included blockchain gaming.
According to Matsuda, his team will focus on blockchain entertainment. Matsuda also noted that new technologies may confuse people at first, but eventually they will become a normal part of people’s lives.
Stay safe on Web3. Learn more about Web3 Antivirus →
Crypto Unicorns Founder: P2E Games Are In A Long “Maturation Phase”
On Cointelegraph’s NFT Steez podcast, Crypto Unicorns founder Aron Beierschmitt highlighted that P2E gaming is still transitioning from growth to maturation phase.
Beierschmitt told Cointelegraph that Web3 participants have shown that gaming needs to be more fun and less financial. The executive also noted that the shift from P2E to play and win suggests that these games still need to be resolved.
An overview of the metaverse in 2022
While Metaverse adoption slowed in 2022, investors remain interested in developing it. According to a report by consulting firm McKinsey, more than $120 billion was invested in space in the first half of 2022.
Throughout 2022, there were significant partnerships within the space, with several companies embracing new technologies despite being against decentralization.
Nifty News: Solana NFT Transaction Volume, Nike RTFKT COO Hacked & More
Solana-based NFTs witnessed a surge in trading volume, according to NFT data site CryptoSlam. The blockchain showed more than 800,000 transactions in the last 30 days. Meanwhile, the wallet address of RTFKT’s COO was hacked through a phishing scam.