9 hours ago
15
Trump-owned institution DTTM Operations filed a trademark for “TRUMP” successful narration to a metaverse and an NFT marketplace.
In this week’s newsletter, the US Securities and Exchange Commission (SEC) has dropped its probe into the non-fungible token (NFT) institution Yuga Labs, a institution owned by US President Donald Trump filed trademarks for a metaverse and an NFT marketplace, and gambling level DraftKings plans to settee its NFT suit for $10 million. In different news, Hamster Kombat’s recently launched layer-2 web aims to enactment Web3 gaming.
Yuga Labs says SEC dropped its probe into NFT firm
NFT steadfast Yuga Labs said the SEC dropped its probe into the company. The NFT steadfast said successful a station that aft 3 years, the bureau had yet closed its probe into Yuga Labs.
The institution said this was a triumph for NFTs and creators, pushing the ecosystem forward. “NFTs are not securities,” Yuga Labs added.
The regulator’s probe began successful October 2022 nether the erstwhile SEC seat Gary Gensler. It was portion of a wider probe into NFTs, creators and marketplaces to spot whether NFT assets could beryllium classified arsenic securities.
Trump institution files trademarks for branded metaverse, NFT marketplace
Trump-owned institution DTTM Operations filed for trademarks for the connection “TRUMP” successful transportation with a metaverse and NFT marketplace. The filing described a Trump-themed virtual satellite wherever users could store for carnal and virtual goods, dine successful a edifice and bask simulated luxury transports similar limousines and aircraft.
The institution besides plans an NFT marketplace. However, the filing added a caveat that lone contented permitted by the president volition beryllium included.
DraftKings settles class-action suit implicit NFT marketplace for $10M
Gambling level DraftKings agreed to wage $10 cardinal to settee a class-action suit from its NFT buyers. On Feb. 28, a national tribunal justice granted a preliminary colony question to settee each claims for $10 million.
The woody would divided the funds betwixt members of the class-action suit. If approved, the colony would yet extremity the suit, which started successful 2023. The suit alleged that the institution sold NFTs that were concern contracts nether securities laws and were unregistered securities.
Hamster Kombat says Season 2 is ‘more than a game’ amid layer-2 launch
Web3 crippled Hamster Kombat expanded its ecosystem by launching a layer-2 blockchain called the Hamster Network. The L2, based connected The Open Network (TON), aims to enactment Web3 games and decentralized applications.
Hamster Kombat said the web would let developers to motorboat games wholly onchain. “We’re not talking astir centralized games that store lone circumstantial pieces of information oregon NFTs onchain,” the squad told Cointelegraph. They added that they would let games to spot their “entire logic” wrong astute contracts.
Thanks for speechmaking this digest of the week’s astir notable developments successful the NFT space. Come again adjacent Wednesday for much reports and insights into this actively evolving space.
English (US) ·