Welcome to the latest issue of the Cointelegraph Nifty newsletter. Read on to learn the latest story on non-fungible tokens. Every Wednesday, the Nifty newsletter will inform and inspire you to dig deeper into the latest NFT trends and insights.
In this week’s newsletter, learn how non-fungible tokens (NFTs) are the focus of court action in Singapore, learn about the importance of decentralized randomness in the world of Web3 gaming, and find out why Universal Music Group is suing Anthropic for copyright infringement.
Singapore court authorizes freezing order as soul-bound NFT attached to wallet
Singapore’s High Court has allowed financial investigation firm Intelligence Sanctuary to attach NFTs containing legal documents to cold wallets linked to hacking attacks, according to UK iSanctuary and local media reports.
The global freezing order issued by the court was labeled as a soul-bound NFT and attached to the relevant wallet. The NFT will not prevent wallet transactions, but it will alert counterparties and exchanges that a wallet is involved in a hack. Additionally, iSanctuary claims that with the help of NFTs, it has devised a way to track funds leaving the wallet. The NFT will be permanently attached to the wallet.
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Web3 games need decentralized randomness to be fair
Random numbers are important in many applications, including games, security systems, decentralized autonomous organization governance, and NFT generation. If your game doesn’t have access to randomly generated numbers, your starts will become repetitive and stale. If your security system relies on easy-to-guess authentication codes, it doesn’t provide much security. If any system that requires diversity cannot achieve this, it won’t be very effective.
For many applications this works. Not every application requires true randomness. For example, in a video game with random encounters, the game may only be able to take a limited number of actions at any given time. A pseudorandom number generator (PRNG) that provides values outside a given range won’t be of much use. When the stakes are low, technical requirements usually match. However, the quality of PRNGs can vary widely. This can be a problem for higher-risk applications because many people rely on them or in various use cases.
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Universal Music Group sues Anthropic for copyright infringement
Universal Music Group, Concord Publishing and ABKCO Music & Records have filed a lawsuit against artificial intelligence startup Anthropic, accusing the latter of copyright infringement when training its artificial intelligence chatbot Claude.
The lawsuit, filed on October 18, alleges that Anthropic has “unlawfully” copied and distributed “numerous copyrighted works, including lyrics to numerous musical works” owned or controlled by the publisher.
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Thanks for reading this week’s summary of the most notable developments in the NFT space. Come back next Wednesday for more reports and insights into this actively growing area.
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