PayPal applies for NFT marketplace patent, Meta’s avatars impress: Nifty Newsletter

In this week’s newsletter, read about how a nonfungible token (NFT) artist raised money to support a cancer charity and why payments platform PayPal has filed a patent application for an NFT marketplace. Check out Meta’s new photorealistic metaverse avatars and, in other news, learn why Neal Stephenson’s metaverse blockchain project remains optimistic despite waning interest.

NFT artist raises $140,000 for cancer support charity

NFT artist Trevor Jones donated almost $140,000 to Maggie’s Edinburgh — an organization dedicated to cancer treatments — after raising funds from a Web3 event in France. The amount raised from the event will help 4,000 patients affected by cancer and those who need critical support.

According to Maggie’s Edinburgh, the funds raised by Jones will be the highest single donation from an art event in the organization’s history. The money collected will support services for cancer patients and their families.

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PayPal applies for NFT marketplace patent for on- or off-chain asset trading

Payment platform PayPal filed a patent application for an NFT transfer and purchase system. The patent application was filed at the United States Patent and Trademark Office in March and was made available publicly in September.

The patent described a system that lets users buy and sell NFTs through a service provider. While the provider was not mentioned, the document did mention Ethereum, suggesting that it may be based in the network.

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The metaverse is real: Zuck’s “incredible” photorealistic tech wows Crypto Twitter

As critics continue to declare the metaverse dead, Meta CEO Mark Zuckerberg showcased the company’s developments in the space in a podcast using photorealistic avatars in the metaverse.

Using Meta’s Quest 3 headsets and noise-canceling headphones, Zuckerberg and podcast host Lex Fridman engaged in an hour-long interview using metaverse avatars. The improvements got the attention of Crypto Twitter, with some comparing previous iterations of Zuckerberg’s metaverse with the present one, saying the “metaverse has upgraded.”

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Neal Stephenson’s blockchain project holds discovery month as metaverse hype wanes

Metaverse blockchain project Lamina1 is holding an event called the Open Metaverse Discovery Month to let builders and creators experience the metaverse. The company believes that despite the lower interest in the metaverse, the concept will live as long as people are willing to spend time and money on it.

According to Lamina1 CEO Rebecca Barkin, the project was able to attract 50,000 builders despite the crypto winter and people writing eulogies for the metaverse. The executive remains optimistic that its founder, Neal Stephenson’s vision of the metaverse will challenge corporate greed and give more autonomy to creators.

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Thanks for reading this digest of the week’s most notable developments in the NFT space. Come again next Wednesday for more reports and insights into this actively evolving space.