Amazon is rumored to be unveiling a new Web3 initiative. Amazon has the size to make the project successful, although regulatory uncertainties and other issues could sink it...Bitcoin tops $23.9K before retreating. theSamReynolds and JPRubin23 report
, Galaxy Digital accused the NFT industry of ‘misleading’ the public with its language around NFTs and ownership of copyright.
, there’s “a discrepancy between what the public thinks they're buying and what they're really buying”.in a court case between Yuga Labs and two artists it accused of making knock-offs of its NFTs and infringing on its copyright further complicated the issue with the court refusing to weigh in on the topic of NFTs and copyright.
Blockworks’ report mentions that Amazon’s NFT effort might involve some sort of Web3 gaming engagement. A tantalizing possibility, considering that GameFi has a $10 billion market capBut Play to Earn – one of the more popular genres of Web3 gaming – has all sorts of legal pitfalls. “Generally, the Criminal Code prohibits games that are fundamentally premised on: the payment of money by the user; and the possibility that the user can earn money from playing,” they write.that Play-to-Earn risks violating state and federal gambling law because of the need to pay something of value to participate.
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