Trait Sniper Weekly News 14 (05.09 - 11.09.2022)
Bringing some news in the last week: US Senators Press Meta CEO Mark Zuckerberg on Crypto Scam Policies for Meta, FIFA To Launch Their Own NFT Football Platform, Sony Music applies for an NFT trademark, and Sorare and the NBA Collaborate to Launch a Basketball Game. Trait Sniper will give a summary below to reading!
Blockchain Market
US Senators Press Meta CEO Mark Zuckerberg on Crypto Scam Policies for Meta
U.S. Senators Robert Menendez, Sherrod Brown, Elizabeth Warren, Dianne Feinstein, Bernard Sanders, and Cory A. Booker jointly sent a letter on Thursday to Mark Zuckerberg, chairman, and CEO of Meta, about his company’s “efforts to combat cryptocurrency scams on its social media platforms, including Facebook, Instagram, and Whatsapp.”
“While crypto scams are prevalent across social media, several of Meta’s sites are particularly popular hunting grounds for scammers,” the letter describes. “Among consumers who reported being scammed out of cryptocurrency on a social media website, 32% identified the scam as having originated on Instagram, 26% on Facebook, and 9% on Whatsapp.”
The Lawmakers sent seven questions to Zuckerberg about Meta's existing rules regarding bitcoin frauds. They require a thorough response from the CEO of Meta by October 24.
For each of Meta's social media channels, respondents were asked how the firm identifies and eliminates crypto-scammers, educates and alerts users about crypto-scams, and supports victims of fraudulent crypto schemes. Senators also inquired about how Meta checks that cryptocurrency advertisements are not frauds and what regulatory permissions are necessary to promote on its platforms. In addition, they wanted to know how closely Meta works with law enforcement to hunt down fraudsters.
Authorities in the United States have warned that fraudsters are increasingly using social media to scam investors. In August, the U.S. Securities and Exchange Commission (SEC) warned investors about fraudsters leveraging their FOMO (fear of missing out) on social media.
NFT Market
FIFA To Launch Their Own NFT Football Platform
FIFA+ is the response of the International Federation of Association Football (FIFA) to an NFT platform. The website will enable football fans to collect various tokens and memorabilia upon its launch at some point in the next month.
This cooperation between FIFA and Algorand, a blockchain company, has resulted in the development of FIFA's NFT platform. They will collaborate in this year's Qatar World Cup, where Algorand will serve as a sponsor and technical partner.
Romy Gai, FIFA‘s Chief Business Officer, said: “Fandom is changing, and football fans around the world engage with the game in new and exciting ways… Just like sports memorabilia and stickers, this is an accessible opportunity for fans around the world to engage with their favorite players, moments and more on new platforms.”
In addition to the release of FIFA+, the platform will host FIFA+ Collect. It will be a digital platform that gives consumers access to live sports from across the globe. In addition to interactive games, news, tournament details, and other unique stuff.
Sony Music applies for an NFT trademark
Sony Music has asked for trademark protection for the Columbia Records logo to generate music podcasts and support material NFT, according to an application filed with the USPTO on August 30 and supplied by lawyer Mike Kondoudis. Hence, the new logo will be utilized for marketing services, distribution, advertising, and other types of online entertainment. The action partly reflects Sony's long-term objectives with NFT.
NFT and metaverse are gradually gaining momentum in the music and entertainment industries. Eminem and Snoop Dogg performed "From the D to the LBC" at this year's MTV Video Music Awards (VMAs) from inside Yuga Labs' metaverse Otherside reality.
Sorare and the NBA Collaborate to Launch a Basketball Game
Sorare, the hugely popular blockchain-based fantasy sports entertainment platform, has announced a groundbreaking new relationship with the National Basketball Association (NBA) and the National Basketball Players Association (NBPA). They are jointly developing the first free-to-play digital basketball fantasy card game. The NFT game will debut during the 2022-23 NBA season.
“Our partnership with Sorare will give NBA fans an entirely new way to engage with our teams and players,” said NBA Commissioner Adam Silver. “With Sorare’s emerging NFT fantasy platform, we see significant opportunities to broaden our community of fans and grow NBA basketball around the world.”
The multi-year relationship is indicative of the NBA's courage. The organization is creating its own unique route in the new blockchain age. Significantly, the NBA has an existing NFT market. NBA Top Shot's relationship with Dapper Labs features trading cards and video NFTS.
Conclusion
Before The Merge, the market seemed calm and sluggish. However, the efforts of major brands are solidifying the position of NFT market and the regulations governing activities on the blockchain market. Next week, the Merge will start. The weekly news will return the next Monday.