Gamma Law
Non-fungible tokens (NFTs) are once again proving their versatility. Entrepreneurs have found a variety of compelling uses for them in video games, drink recipes, digital art, fantasy sports, and more.
Non-fungible tokens (NFTs) are making headlines again, this time in fantasy sports. In September 2021, the French start-up company Sorare announced that it had raised significant capital—$680 million to be exact—for its fantasy football (soccer) platform.
Rapper Jay-Z’s legal beef with record executive Damon Dash entangles old-school creativity and newfangled technology, providing lessons for performers, promoters, developers, and anyone else involved in the arts world. The disagreement between two-thirds of the founding braintrust behind Roc-A-Fella Records centers on the ownership and regulation of non-fungible tokens (NFTs) and is likely to open a flurry of issues related to NFTs.
Many believe that non-fungible tokens (NFTs) are poised to revolutionize the esports industry. Current applications of NFTs in esports include awarding NFTs in place of physical tournament trophies, which is a much more efficient solution given the prevalence of online competitions today;
After several months of negotiations, the U.S. Senate passed the Infrastructure Bill in August. Officially dubbed the ‘Infrastructure Investment and Jobs Act’, the bipartisan bill is part of President Biden’s wider economic agenda.
Lucrative non-fungible token (NFT) auction sales continue to generate headlines around the world. NFTs are unduplicable assets that are developed via blockchain technology, such as RMD blockchain, and can be used to track their creators, their transactions, and their owners. Sales of NFTs are typically conducted using ether, the cryptocurrency developed for the Ethereum blockchain.
Technologies such as cryptocurrencies, smart contracts, and blockchain applications have become immensely popular in video gaming. Blockchain and crypto-based games like Axie Infinity are increasing in numbers and a number of gaming and esports organizations even rely on these technologies to manage and run their operations, as is the case with MetaClan.
US legislation regarding blockchain technologies varies widely from state to state and these regulations can bear heavily on the founding, funding, and operation of video game, VR/AR/XR, and other players in the digital media space.
Non-fungible tokens (NFTs) are becoming increasingly popular. In comparison with fungible tokens such as Bitcoin and Ethereum which can be divided into smaller parts, each non-fungible token is indivisible and has its own distinct value.
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