Huge NFT news from Nike and Adidas

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Metaproof is a media company that covers the business of the metaverse. We keep you informed on how the metaverse and web3 are changing YOUR industry.

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The Future, today. In just 3 minutes.

1/ Both Nike and Adidas announce latest utility for respective NFT offerings

It appears to be a great week for sneaker and fashion NFTs, as both Nike and Adidas announce the latest utility for their NFT offerings, Our Force 1 (OF1) and ALTS. To sum it up quickly:

• Nike represents RTFKT and the CloneX collectors, while Adidas does the same for the Bored Ape Yacht Club (BAYC) through its Indigo Herz character.

• Nike’s .SWOOSH arm launches OF1, its first digital creation collection paying homage to Nike’s 50-year legacy and the iconic Air Force 1.

• On the Adidas front, its NFT ecosystem ALTS by adidas moves to the next stage and offers various utilities from IP rights to customizable virtual wearables.

Both leading sneaker brands garner large, extremely loyal web3 communities, making it interesting to see tectonic shifts in the future of fashion and brand engagement through their NFT offerings.

2/ Midjourney, other AI devs strike back in court, claiming their material is not similar to artists

In the continuing saga of generative AI versus artists and creatives making plagiarism claims, Midjourney, Stability AI and DeviantArt issue a response to a group of artists accusing them of extensive copyright infringement, essentially using their work in generative AI systems sans proper authorization.

The finer details:

• The AI firms, filing their motions in a San Francisco federal court, argued that the AI-generated images were dissimilar to the artists’ work.

• Back in January, Sarah Andersen, Kelly McKernan, and Karla Ortiz filed a lawsuit against the AI companies, accusing that the AI-generated images were created in their style and thus also infringing.

• Interestingly, online art community DeviantArt, which offers a service enabling users to generate images using Stability AI's Stable Diffusion system, supported Stability AI’s arguments and claimed it wasn’t responsible for any alleged wrongdoing by the AI firms.

3/ Embracing the shift in web3 gaming: From play-to-earn to play-and-earn

Blockchain gaming is booming, and the gaming industry is transitioning from P2E to PAE, supposedly providing players a more sustainable, inclusive, and rewarding gaming experience.

A quick face-off between P2E and PAE:

• P2E often trades quality for profits; PAE focuses on fun.

• P2E grapples with speedy inflation and deflation of tokens; PAE puts emphasis on environmentally-friendly tokenomics.

• PAE works to widen the gaming market by offering free-play options; P2E centers on those able to invest in virtual items.

From security and transparency to player education and balanced in-game economy, PAE is being deemed a game-changer in web3 gaming, highlighting its strategy not only to bring more players into the space but also ensure long-term success.

4/ Everything you need to know about artificial intelligence: What is it used for?  

AI has evolved from a moonshot project into a priority for tech giants like Amazon, Microsoft, Google and IBM, who are investing in generative AI, machine learning, and chatbots that increase their serviceability.

The end game: automating tasks and providing fast, real-time information access.

So what's AI good for in the business arena?

• Streamlining operations and boosting engagement in various industries, from tech to agriculture to education

• Customizing content recommendations to users by social media giants

• Suggesting stock investments, spotting business trends, and accelerating production with ample data for analysis

Everyone's racing to develop the smartest AI, with billions of dollars at stake - the next big development is right around the corner.

🏃‍♂️ Quick Hits

🎮 Gaming

• Square Enix and Elixir Games pair up to boost web3 gaming via a new platform. (Link)

• Animation powerhouse Baobab Studios expands Momoguro into Roblox and anime, bringing the IP to TV for the 1st time. (Link)

• DAO Merit Circle offers Beam, a gaming-focused blockchain as a new home for web3 games. (Link)

• Nostalgia calling: Nintendo Switch’s Online Expansion Pack adds an all-time popular arcade game. (Link)

• Roblox isn’t a game. It’s a platform that lets anyone build experiences any member can enter; 30M+ such experiences have been created to date. (Link)

🕶 Fashion

• What’s up ahead in 3D design? (Link)

• Zegna rolls out AI-powered luxury clienteling. (Link)

• EU online platform Zalando launches a ChatGPT-powered fashion assistant. (Link)

• Men’s Wearhouse introduces digital concierge service for grooms. (Link)

• A look back at the roster of brands inside Decentraland’s Luxury District at MFW 2023. (Link)

• Digital fashion for dummies: Your guide to style in the metaverse. (Link)

🏀 Sports

• Karate Combat closes $18M to build web3 and mixed reality live sports: what to expect. (Link)

• UFC transforms PPVs into an immersive 8K “shared reality” experience, giving remote fans an in-person feel. (Link)

• In a multi-year deal, USA Hockey names Sense Arena as its VR training tool. (Link)

• AI-driven sports metaverse LootMogul teams up with SuperWorld, a virtual world mapped onto the physical world, for new sports fan and athlete experiences and content monetization. (Link)

• World 1st NFT collection of antique tennis rackets to be auctioned on OpenSea this spring. (Link)

🎥 Media & Entertainment

• Snapchat unleashes its AI chatbot to all, free of charge. (Link)

• Web3 media company Public Pressure forms its London division called Public Pressure Music, with managing director Stephen King at the helm. (Link)

• Mark Zuckerberg reveals Instagram's new multi-link feature. (Link)

• The Metaverse Standards Forum becomes an independent nonprofit consortium. (Link)

• Meta's social VR platform Horizon Worlds is now open to teens in the US and Canada with enhanced safety features, like private profiles and garbled voices. (Link)

• Netflix delays the rollout of its US password-sharing restrictions until Q2. (Link)

🖼 Art & NFTs

• Award-winning photographer Jeremy Cowart to create 10K photo NFTs in 20 mins - in front of a live audience. (Link)

• Celebrating Western art in web3: A collective by Jeremy Booth and Niko Kampouris. (Link)

• NFT app Rebase co-founder gets sued for allegedly going “rogue,” claiming he’s pushed out of the firm and funds he owned were moved from a joint crypto wallet. (Link)

• This digital services and lifestyle platform launches sustainability-themed NFTs, rewarding direct paycheck deposits. (Link)

• Rome-premiering film Houria launches an NFT collection to fund a deaf women association. (Link)

🤖 AI

• Google revamps its search to outpace AI competitors. (Link)

• AI can have a say in critical human decisions. (Link)

• AI builds creative cocktails and menus; Sapporo and Kirin are also at it to craft new beers. (Link)

• AI anxiety: Workers are scared of AI taking their jobs. (Link)

• Reddit’s API updates will require AI firms to pay. (Link)

• Adobe's Lightroom’s AI-powered feature lets users easily darken beard hair or enhance clothing texture. (Link)

💸 Funding & Partnerships

• Microsoft and decentralized data platform Space and Time to add real-time blockchain data for Azure Cloud, 7 months after the tech giant led a strategic funding round for the crypto firm. (Link)

• Corporate accounting software firm Trullion raises an additional $15M to expand its AI-powered accounting tech. (Link)

• SwissBorg raises €20M in series A funding in a show of community-centric fundraising’s might. (Link)

• P2E game NFT Champions and OpenSea team up for an NFT collection release. (Link)

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All content on this newsletter is for informational purposes only and does not aim to serve as or replace expert investment advice.

📈 If you are a startup building in the metaverse / web3 ecosystem and are raising capital, please reach out to Sfermion. Sfermion is an investment firm focused on accelerating the emergence of the metaverse 📈

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