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Sony, Theta Labs to giveaway glasses-free 3D display with exclusive NFTs

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Sony, Theta Labs to giveaway glasses-free 3D display with exclusive NFTs

U.S.› Theta › NFTs

10 unique Theta NFTs will be minted in partnership with Sony and give owners the ability to claim a free Sony Spatial Reality Display

3 min read

Updated: May 7, 2022 at 5:24 pm

Cover art/illustration via CryptoSlate

Theta Labs is partnering with Sony to release a unique 3D NFT that works without 3D glasses.

The “Tiki Guy” NFT will work with a Sony Spatial Reality Display, retailing at $4,999. However, purchasers of the NFT will be able to claim a free display with a valid US shipping address.

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Source: Thetadrop

The Tiki Guy

Only 10 of the NFTs will be minted, so demand may far outweigh supply, especially if the price is lower than the RRP of the display itself. Sony, an investor in Theta Labs, says the device tracks eye movement to deliver a 3D image no matter how you view the display.

A high‐precision micro‐optical lens separates images for each eye to create a 3D experience without special glasses. The website for the product lists the use cases like gaming, entertainment, and medical.

However, the scope for use as a high-end display for NFTs is evident. For investors spending thousands on unique NFTs, the ability to showcase them to friends, family, and the wider community is limited.

NFT viewing experience

There are NFT frames on the market available for 2D content. They primarily work by connecting to your wallet to verify ownership and display the associated content. However, you could also download the image or video from the blockchain and display them on a simple WiFi digital display or other glasses-free displays like the Acer ConceptD Spatial Labs edition laptop.

The Sony display won the CES Innovation award in 2021. It could be the solution to the decrease in the popularity of 3D content in recent years, especially for those who already own a high-end computer.

Nick Colsey, Vice President of Business Development, Sony Electronics Inc., said:

“Immersive, three-dimensional NFTs are a great way to showcase the potential of Sony’s Spatial Reality Display for metaverse enthusiasts and collectors.” 

The “Tiki Guy” NFTs will require a Windows PC running Unity to display the images on the Sony device. The recommended specs for the computer are relatively high. It needs the equivalent of an Intel Core i7-9700K and an NVIDIA GeForce RTX 2070 SUPER. Therefore, if you do not already own a gaming rig purchased within the last few years, you may need to spend a few thousand dollars on a computer just to run the display.

A new 3D NFT experience

Mitch Liu, CEO of Theta Labs, Inc., said: 

“NFT owners are ready for the next revolution. Sony’s Spatial Reality Display is a ‘whoa, baby’ experience – showcasing NFTs in a whole new way. Web3 Metaverse ready.”

Currently, the NFT itself must natively be in 3D, so investors won’t be able to enjoy a 3D version of their Bored Ape just yet. However, the move into 3D NFTs could potentially be opened up further by technologies like NFT derivatives similar to Nifty Tailor.

Such services allow users to create verifiable on-chain derivatives from NFTs. So, while users cannot display the current generation of high-value NFTs in 3D, they might one day be able to create a 3D NFT derivative.

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Alternatively, NFTs for 3D objects for use in metaverse projects such as Decentraland or Sandbox may be compatible with the Sony display depending on how they are configured. Avatars, items, and characters in these projects show as 3D objects that can be interacted with in wallets such as Trust Wallet or on OpenSea.

However, there may be additional work to integrate these into the Unity software needed to power the Sony Spatial Reality Display. The possibility to display these is much greater than NFTs that are entirely 2D, but for now, “The Tiki Guy” NFT holders will be able to enjoy their art in a very exclusive club.

The “Tiki Guy” limited-edition NFTs will be available on the Theta Labs marketplace, ThetaDrop, but a release date is currently unknown. Sony has revealed that 2D versions of the NFTs will also be available. 

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Panama President demands strict anti-money laundering measures in new crypto law

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Panama President demands strict anti-money laundering measures in new crypto law

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Panama has been listed as a country with “strategic deficiencies” in dealing with money laundering.

2 min read

Updated: May 19, 2022 at 2:37 pm

Cover art/illustration via CryptoSlate

Panama’s President Laurentino Cortizo said he will not sign the new cryptocurrency bill until it provides provisions for stricter anti-laundering controls, Bloomberg News reported on May 19.

President Cortizo wants strict money-laundering controls

The legislative assembly passed the bill last month after several deliberations, but Cortizo said the bill needs to ensure it complies with global anti-money laundering standards.

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While speaking at the Bloomberg News Economy Gateway Latin America Conference, Cortizo said he will not sign the law because he did not have enough information. He said:

I have to be very careful if the law has clauses related to money laundering activities. Anti-money laundering activities are very important to us.

If passed, the law will enable cryptocurrency exchanges to get the license they need for operations in the country. However, it will also regulate all crypto transactions.

The bill will also enable the government to put public records on the blockchain. Supporters believe it’ll make Panama an attractive country for fintech companies looking to invest in Latin America. Even the president agreed it’s a good law saying that “it’s an innovative law from what I have heard.”

Panama targeted by money launderers

Cortizo’s misgivings about the bill are understandable. The global money laundering and terrorist financing observer, Financial Action Task Force, included Panama on its list of countries with “strategic deficiencies” when dealing with money laundering.

Cortizo has promised to change this by implementing the task force’s recommendations. He’s also planning to tighten the restrictions on dirty money.

With the risks of crypto becoming another opportunity for money laundering, it has become necessary for the president to take a hard stance.

A recent report by the International Monetary Fund (IMF) revealed:

“[Crypto] may be used to transfer corruption proceeds or circumvent capital controls.”

Panama is an attractive destination for those looking to launder money. Its proximity to Mexico and Columbia, two countries with large-scale drug organizations, is a risk factor. It also has a dollarized economy.

However, Cortizo doesn’t have to reject the whole bill. It is possible to sign it partially while vetoing other parts. The president has said he’s considering this while his lawyers review the bill.

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Op-Ed: Bringing interest and longevity to play-to-earn gaming

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Op-Ed: Bringing interest and longevity to play-to-earn gaming

Guest Post › GameFi

Currently too many of the offerings in the P2E space are unsustainable and uninspired, there has to be a change to have all types of gamers participate

3 min read

Updated: May 19, 2022 at 5:07 am

Cover art/illustration via CryptoSlate

The last couple of years has seen the rise of a new game style based on decentralized technology and offering digital rewards with real-world value. Blockchain-powered “Play-to-Earn” (P2E) gaming has begun to draw some attention, but there is a catch.

Too many of the current offerings have unsustainable economies and uninspired gameplay experiences. This has put up a wall that excludes many traditional gamers who aren’t interested in earning more than gameplay.

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It doesn’t have to stay this way, though. New gaming platforms emerge that take necessary new steps to balance their economies while also delivering complex and exciting entertainment. 

The Divide

The rise of P2E gaming has split the gaming community into two camps. On the one hand, you have more traditional gamers who want rich, immersive, and innovative experiences.

On the other, you have those motivated to play by the chance to earn actual income. Usually, the former comes from more affluent parts of the world, where the average gamer sees the endeavor as pure entertainment.

The latter tends to come from more impoverished areas and see an opportunity and a chance to earn an income that often transcends the local average for jobs and is certainly easier. 

While those interested in earnings don’t seem to mind if a gameplay experience isn’t enjoyable, those who play for entertainment often see the integration of monetary elements into their games as intrusive and abrasive.

Just look at the intense pushback that has occurred around things like microtransactions and loot boxes. Not to mention that, on average, gamers seem to be entirely opposed to NFTs as well.

This has created a divide that has held virtually all P2E and blockchain games from breaching mainstream audiences. By limiting appeal, these platforms restrict themselves to only financially motivated users.

This then creates another problem. These users, by definition, act as value extractors of the overall ecosystem. They consistently move their earnings off-platform instead of reinvesting them.

While it is their right to do so, and an open ecosystem should allow for this, it still means that the overall system is unsustainable long term. A thriving economy can’t consist solely of those who seek to move value out of it. 

How To Build a Bridge

To bridge these separate game worlds and bring new users and liquidity to these games, developers need to reimagine both their economics and their gameplay.

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For one, there need to be some types of incentives within the experience for users to recirculate at least some of their earnings back into the game. What this looks like could vary, but a system that offers compounded rewards for long-term engagement needs to be implemented to encourage a thriving economy.

Then there’s the actual end-user experience. Presumably, financially motivated players wouldn’t mind games that are truly fun to play, and it may even encourage more of that mindset to get involved.

However, more importantly, if developers create titles that compete with their non-blockchain predecessors, then both casual and hardcore gamers will begin to come into the P2E space. This will bring in support that won’t simply jump ship if the in-game earnings become less profitable and hence should act as a stabilization element on the in-game market.

The point is, gamers demand thoughtful products that entertain and challenge. For most of them, being able to earn a bit of money isn’t a motivation to pick up a title.

If they do show up for the gameplay, they may be pleasantly surprised to find they can earn a bit of money along the way. In this way, almost all types of users can find value in a title that blends smart economics with a genuinely engaging experience.

Guest post by Michael Rubinelli from WAX Studios

Michael Rubinelli, Chief Gaming Officer at WAX Studios, is a technology & gaming leader with 15+ years’ progressive experience in executive leadership, product development, and continual revenue growth and is renowned for his success at top corporations (including Disney, THQ, Electronic Arts). Michael has now turned his attention to Play-to-Earn games and spends most of his time expanding the Gaming Division of WAX Blockchain.

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Animoca Brands co-founder says web3 is growing despite the recent crypto crash

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Animoca Brands co-founder says web3 is growing despite the recent crypto crash

Bitcoin · Ethereum › Interview

Animoca Brands co-founder Yat Siu claims the recent crypto market rout is different from the one in 2018 because the industry has more utility, which makes it stable.

2 min read

Updated: May 18, 2022 at 12:37 pm

Cover art/illustration via CryptoSlate

Animoca Brands co-founder Yat Siu believes the web3 ecosystem continues to expand rapidly despite the recent turmoil in the crypto markets, according to an interview with Bloomberg’s Stephen Engle on May 18.

Siu said the recent crash in the crypto market is not similar to the 2018 rout. He highlighted that Bitcoin (BTC) was trading below $3,000 and Ethereum (ETH) traded below $100 at some point during the 2018 crash. Siu added that most crypto adopters at the time had embraced the sector for speculative purposes because the ecosystem was immature and did not have utility.

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However, at the moment, the crypto sector has expanded and has diverse applications in the metaverse, non-fungible tokens (NFTs). Speaking about the recent TerraUSD-triggered collapse, Siu said it is more contained. Moreover, Siu believes the recent crash has not affected the crypto ecosystem in terms of utility, although prices took a sharp dive.

Additionally, unlike in 2018, when investors converted their crypto into fiats, he claims investors converted their holdings into stablecoins or other crypto tokens following the turmoil. In so doing, Siu believes crypto adopters continue to build the web3 ecosystem, making it more stable.

Investors with a long-term outlook continue investing in crypto

Sharing his thoughts on whether the poor performance of the crypto market has discouraged venture capitals from injecting funds into the space, Siu said people that understand the industry are investing actively. He added that Animoca Brands considers the current market situation an ideal buying opportunity.

According to him, Animoca Brands’ lens is not focused on the three to 12 months. Specifically, he said the company is investing based on a 10 to 20-year approach. Siu added that Animoca Brands invests in projects that help build the network of NFTs. The company’s recent acquisition of French video game studio Eden Games aligns with this strategy.

Although he admits ten years is a lot of time, Siu said web3 is a natural evolution of the internet, and most of the world will embrace it. He pointed out that a significant percentage of the global population already depends on the digital world.

However, the current web2 platforms do not offer users a say or stake in their operations, even though their existence solely depends on user activity. On the other hand, web3 platforms offer stakes and rewards for their time and engagement.

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