 Sony is partnering with Theta Labs, a Web3-based video streaming platform, to launch 3D NFTs designed to use with Sony's Spatial Reality Display (SRD). The non-fungible tokens will be available on ThetaDrop, Theta Labs' NFT marketplace; the company aims to showcase rapid adoption of the metaverse. More: - Sony's SRD is a 3D display of sem-augmented reality-based images that allow users to manipulate objects without hardware glasses.
- The display tracks eye movement, tilts images as the user moves their head, and creates sensory experiences.
- Theta Labs' NFT marketplace previously featured Katy Perry's first NFT collection, plus NFTs for World Poker Tour, American Idol, and The Price is Right game show.
- The partnership between Sony and Theta is established in efforts to launch NFTs using mixed reality experiences without hardware.
- One hurdle that metaverse-centric companies will face is mass adoption, as well as technology development that will seamlessly allow users to immerse themselves in digital worlds without reliance on expensive hardware.
- A few NFT companies have turned to smartphones to overcome this challenge; however, it is not a scalable solution.
- Sony's SRD could bridge the gap between physical and virtual worlds, but the cost is around $5,000, which may not be feasible for casual users.
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The U.S. has sanctioned Blender.io, the North Korean digital asset mixing company, for allegedly allowing users to launder stolen digital assets to support cybercrimes linked to the Lazarus Group. Mixing services combine illegal funds with legitimate funds to conceal the origin of the stolen assets. More: - The U.S. Treasury Department of Foreign Assets Control imposed sanctions on Blender.io to monitor and control the growing use of digital assets for illegal activities, saying that the company “poses a threat to U.S. national security interests.”
- The company is investigated for assisting Lazarus, a North Korean hacking group, in a $620M crypto heist earlier in March.
- The crypto heist processed over $20.5M in assets, and in September, authorities designated the Lazarus Group to be a cybercriminal organization.
- Four crypto wallets linked to the Lazarus Group are added to the list of sanctioned currency addresses.
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 Nvidia was fined $5.5M by the SEC for not disclosing the impact of cryptocurrency mining on its gaming business in two quarterly filings. The chip manufacturer settled the fine with the SEC and paid the penalty. More: - The U.S Securities and Exchange Commission (SEC) released a statement, "Without admitting or denying the SEC's findings, NVIDIA agreed to a cease-and-desist order and to pay a $5.5 million penalty."
- Since 2017, Nvidia has been mentioning crypto mining and the positive impact the industry will have on its hardware business.
- The company mentioned that its revenue rose 200% due to the chip demand by crypto miners; however, the company did not mention that its gaming unit also benefited from crypto miners purchasing their GPU units.
- The SEC claimed that the failure to disclose critical information deprived investors of critical data needed to make an informed investment decision.
- In 2018, Nvidia's GTX 580, which is used in gaming, became popular amongst crypto miners, which led to increased revenue.
- Nvidia claimed that the revenue came from their eSports games, such as the Battle Royale genre and AAA cinematic games, but failed to disclose that crypto miners were also using the chips.
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 OpenSea's discord channel was hacked in a phishing scam in the latest security breach. The Scambots used the YouTube NFT art link to entice users to click on the malicious link. More: - The phishing scam was alerted by Serpent, one of the first to warn the company to rule out the link as a potential threat to users.
- Serpent posted screenshots of spambots taking over the YouTube channel; the bots were posting links to redirect users to a page with the name "youtubenft.art.".
- The announcement claimed that both OpenSea and YouTube are partnered to launch a new "YouTube Genesis Mint Pass," which promises the first 100 users to free NFTs and entices them with false promises of huge returns.
- PeckShield, a blockchain security tracking company, was able to determine that the link was malicious. The page has been removed, and an investigation has been launched.
- OpenSea was a target of a major scam earlier this year that swiped off $1.8M in digital assets from the popular marketplace.
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Dubai's Virtual Assets Regulatory Authority (VARA), a cryptocurrency regulator, bought land in The Sandbox metaverse. The "MetaHQ" will be located in the virtual world to make regulatory resources and educational content about crypto assets more accessible to users within the metaverse. More: - MetaHQ will be a virtual office that invites international thought leaders to collaborate, exchange crypto knowledge, and participate in the upcoming digital worlds.
- The news comes months after President Biden also issued an executive order in the U.S. regulating crypto.
- In addition, the SEC also announced adding 20-50 additional staff members to help monitor the crypto industry.
- Many countries will look to the U.S. to regulate crypto markets. SEC Chair Gary Gensler explains: "The U.S. has the greatest capital markets because investors have faith in them, and as more investors access the crypto markets, it is increasingly important to dedicate more resources to protecting them."
- Dubai regulators have not disclosed further details on the process or how it will be accessible to users in the future.
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 The SEC has approved Valkyrie's Bitcoin futures ETF application filed under the Securities Exchange Act of 1934 using a 19b-4 form. The agency has approved most ETF applications; however, most spot Bitcoin ETFs are denied. More: - Last month, the SEC approved Teucrium's Bitcoin futures ETF under the '33 Act. The U.S. joins several countries in approving bitcoin ETFs, including Canada, Europe, and Latin America.
- The '33 Act controls the registration of securities with the SEC and stock markets, while the '34 Act controls trading the securities.
- ETFs have performed well, but many investors hope that regulators will eventually approve spot ETFs in time.
- If spot ETFs get approved, this might lead to more financial advisers adopting cryptocurrencies.
- Bloomberg analysts predict that the SEC might approve spot ETFs by 2023 based on proposed amendments.
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 |  | Gia Mattu is based in Calgary, Alberta. She is an entrepreneur with experience in climate technology, drones, AI, machine learning, and blockchain technology. When she's not working, she loves to hike the Canadian Rockies, try new cuisine, and travel. | | | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford. | |
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