Here’s your metaverse news for the week

A 2023 rebound for NFTs – after demand fell flat in the latter half of 2022 – could be closely linked to video games, a sector Web3 enthusiasts have often touted as having great potential to boost the technology despite vocal objections from players.

After a series of lofty promises by major game companies to incorporate NFTs largely fell by the wayside, one of those video game giants, Square Enix, the Japanese creator Final Fantasy series, said it would take NFTs seriously this year.

In a January 1 letter, President Yosuke Matsuda pledged “aggressive investments” in blockchain technology and NFTs as the company pursues other goals laid out in March 2022, which include investing in Animoca Brands and establishing subsidiaries in countries that are friendly to technology, according to them Washington Post.

Animoca Brands, for its part, is seeking to raise $1 billion for a metaverse and Web3 fund that could be a boon for developing new projects. The Hong Kong-based company’s chairman and co-founder, Yat Siu, said the fundraising should be completed by the end of the first quarter.

While some companies are planning new NFT projects, federal authorities are cracking down on fraud and misconduct in the industry. This week, US prosecutors filed charges against a French national who allegedly defrauded customers of nearly $3 million with a carpet cover.

The suspect, Aurelien Michel, 24, apparently made false promises of exclusive rewards and benefits for his NFT project “Mutant Ape Planet,” which he said was intended to increase demand for digital collectibles and increase their value, according to a statement from the U.S. Attorney . Breon peace.

In other news:

Prada dropped its eighth installment of the limited edition Timecapsule Collection with a similarly gifted NFT. The January Timecapsule shirt features a print designed in 1969 by Enzo Ragazzini and was only available for 24 hours. The poplin shirt’s front pocket features the Prada enamel triangle logo and the word “JANUAR” on the back. Each shirt comes accompanied by its own gifted NFT, which serves as an invitation to join Prada’s exclusive Crypted NFT community.

The company behind it Vespa, one of the best-known motorized scooter brands, filed a trademark application outlining plans for virtual scooters, along with other digital three- and four-wheeled vehicles and virtual clothing. The application, uncovered by trademark attorney Mike Kondoudisalso opens the door for Vespa’s parent company Piaggio to create their own crypto token.

Patrick T. Fallon—AFP via Getty Images

South Korean technology company LG Electronics said on Consumer Electronics Show in Las Vegas this week that it would enable a service called Blade Wallet on smart TVs for customers to buy and shop NFTs. Users of the company’s smart TVs can also access the metaverse platform Senses directly on their devices, allowing customers to experience virtual worlds and digital events such as concerts.

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