Interpol Metaverse, Apple's Rules, & Reddit Avatars
Yesterday’s Market Moves
BTC
S&P
WTI
21,047.60 |
+ 1.56%
3,900.11 |
- 0.30%
111.29 |
+ 1.57%
On this issue, we take a look at Apple’s new landmark updates, Interpol’s entry into the metaverse, a Swiss Bank adopting NFTs institutionally, and a flurry of successful NFT rollouts, especially Reddit’s!
Read the full issue to find out
Markets

Last week, NFT sales were up 1.9%, with $85,068,480 in sales volume according to cryptoslam.io. The top collection was Sorare, which saw $8.5 million in sales. 🔝

Bored Ape Yacht Club (BAYC)🐵 reigned in the second position in terms of seven-day sales, raking in $6.69 million. Besides Sorare and BAYC, Gods Unchained, Azuki, and Cryptopunks hold positions in this week’s top five-selling NFT collections.

Per data from Dune Analytics, a recent Galaxy Report estimated that Ethereum NFT creators have earned over $1.8 billion in secondary royalties over the last year. OpenSea, in particular, has seen royalties rise from 3% to 6%.

Reddit’s NFT avatars have been killing it, as the collectible’s secondary market sales reached more than $5 million on October 24 across more than 20,000 sales. The demand for the collectible NFT avatars minted on Polygon has also spurred over three million Redditors to leverage Reddit’s Vault blockchain wallet! 👏📈

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Headline
Apple tightens its rules on crypto and NFTs in its App Store

Apple published updates to its App Store Review Guidelines on Monday with new language surrounding NFTs!

“Apps may use in-app purchase to sell and sell services related to non-fungible tokens (NFTs), such as minting, listing, and transferring,” the new guidelines read. “Apps may allow users to view their own NFTs, provided that NFT ownership does not unlock features or functionality within the app.”

Under Apple’s long-standing policies regarding paid unlocking of digital goods and services, NFTs that are purchased via Apple’s in-app purchases can be used for token-gated utility. But those are subject to Apple’s 30% fee. In addition, developers aren’t allowed to create “buttons, external links, or other calls to action” that might tell users how to circumvent the App Store to buy NFTs through other platforms. Instead, the App Store wants its users to make in-app purchases.

In other headlines,

  • Azuki Raises $2.5M With NFT-Backed Golden Skateboard Sale. Read More
  • The American Red Cross to Issue NFTs to People Affected by Hurricane Ian. Read More
  • New York Knicks All Set to Launch ‘New York Forever’ NFT Collection on Coinbase. Read More
  • UnionBank of the Philippines introduces a new NFT trading platform. Read More
  • PayPal files trademarks for NFT and metaverse offerings. Read More
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Metaverse
Interpol launches law enforcement metaverse

Interpol has announced the launch of a metaverse specifically designed to aid global policing.

The system allows law enforcement officers from around the world to connect with one another in a virtual recreation of the agency’s Lyon headquarters. Once there they can take part in immersive training courses covering a wide range of policing issues, including forensic investigation.

“For many, the metaverse seems to herald an abstract future, but the issues it raises are those that have always motivated Interpol — supporting our member countries to fight crime and making the world, virtual or not, safer for those who inhabit it,” Interpol Secretary General Jürgen Stock said at the agency’s 90th general assembly last week in New Delhi.

Interpol also announced the creation of a metaverse expert’s group, which it said would represent law enforcement concerns on a worldwide scale.

In other news,

  • Lamborghini releases the Metaverse World tour-themed NFT collection. Read More
  • Alien Worlds NFT Game Launches In-Game DAOs to Spur Competition. Read More
  • L’Oreal, Meta, and HEC Paris partner for metaverse startup accelerator. Read More
  • Web3 Ticketing Company Yellowheart Launches Metaverse Music Venue with Spatial. Read More

We have more stories in this issue, sign up here for the complete newsletter.

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Sponsored
Join us at the 2022 WOW Summit!

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World of Web3 is the most striking event to learn about Blockchain, AI, DeFi, NFTs, and Metaverses. This Summit connects global NFT and DeFi leaders with international businesses, government authorities, tech visionaries, investors, and developers!

Our CEO Mik Mironov is set to speak alongside a host of top web 3 stakeholders. Be sure to join us on the 1st - 3rd of November, 2022! 🙌

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Adoption
Swiss SEBA Bank launches NFT custody service

SEBA bank, a crypto-friendly bank based in Switzerland, has added an NFT custody solution that gives customers the ability to hold well-known NFTs without managing private keys themselves. The group will enable clients to store any Ethereum-based non-fungible tokens (NFTs), which includes popular collections like Bored Apes and CryptoPunks.

“SEBA Bank is proud to be the first regulated bank to offer NFT custody and we believe that in the coming years, digital assets, including NFTs, will gain adoption and will be increasingly accepted even by traditional finance operators,” a spokesperson for SEBA Bank said.

The bank is looking to target specifically the so-called “blue-chip” portion of the market, meaning those NFT collections which are best-known and have consistently maintained a high market value such as CryptoPunks, Bored Apes, and Clone X.

In other news,

  • Singapore High Court Rules NFTs Can Be Considered Property. Read More
  • Rishi Sunak’s win could lead to the reignition of his plans to launch an official NFT. Read More
  • U.S. State Regulators Issue Cease And Desist Order To Slotie On NFT Sales. Read More
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Quiz Answer
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