In this week’s newsletter, read how the word “metaverse” came in second in Oxford’s Word of the Year. Find out how Meta is moving forward with its metaverse plans amid doubts and how non-fungible token (NFT) marketplace Magic Eden has announced a copyright enforcement tool. In other news, find out how Opera Crypto Browser integrates NFT minting. And don’t forget about this week’s Nifty News, featuring a new all-time high in Reddit avatar mintage.
Metaverse is the second word of the year according to Oxford
The term “metaverse” has taken second place in Oxford University’s word of the year for 2022, behind “goblin mode,” which described the state of mind of people who didn’t like the idea of going back to normal life after the confinements due to the pandemic.
According to Oxford data, usage of the word metaverse quadrupled in 2022, mostly due to Facebook’s rebranding to Meta in October 2021. Oxford noted that the word gained traction due to the cryptocurrency community.
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Meta “goes ahead” with its metaverse plans despite doubts – Zuckerberg
Mark Zuckerberg, CEO of Meta, remains hopeful about the company’s metaverse project, even though it costs him billions of dollars. In an interview at the DealBook summit, the CEO of Meta highlighted that things will be different on a ten-year time horizon compared to the few years ahead.
Zuckerberg believes that communicating in the 2030s will be very different from the way people communicate now. Meta’s CEO stressed that “someone has to build” and invest in it.
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Magic Eden Follows in OpenSea’s Footsteps with NFT Rights Enforcement Tool
Solana-based NFT Magic Eden marketplace has announced that it will allow creators to assert copyright on their collections. This follows OpenSea’s announcement of a similar tool in November.
Jack Lu, CEO of Magic Eden, had already floated the idea of copyright enforcement at a Solana conference, noting the need for creators for a more sustainable revenue model.
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Opera Crypto Browser will allow instant NFT minting via launchpad
Meanwhile, Opera Crypto Browser has dipped into NFTs through an integration with Alteon LaunchPad. With a new tool, the browser will allow anyone to mint NFTs through a drag and drop interface.
Susie Batt, an executive at Opera, has stated that this integration allows users to explore and contribute to the Web3 ecosystem. Also, the tool will have no platform usage fees so people can explore NFTs freely.
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Nifty News: Reddit NFTs Hit All-Time High, EU’s $400K Metaverse Party Fails, And More
The Reddit social forum’s NFT collection has reached an all-time high for the number of avatars minted in one day. On December 3, the platform recorded a new record of 255,000 minted avatars, surpassing the previous record of 200,000 minted avatars in one day on August 30. Meanwhile, watch maker Timex has partnered with the Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) projects to create watches that match the BAYC and MAYC NFTs.
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Thanks for reading this roundup of the week’s top NFT news. Check back next Wednesday for more reports and perspectives on this evolving space.
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