This Week In The Metaverse: Tencent Ditches NFTs, FTC Prepares To Challenge Meta’s ‘virtual Reality Empire’
Issues are transferring quick within the metaverse, and within the wider world of Web3 as a complete. Relying on who you ask, this futuristic, blockchain-based area is both the subsequent massive factor for advertising and marketing — and for nearly every little thing else — or an overhyped fad. Right here’s what it’s essential to know from this previous week:
The Chinese language tech large Tencent has stopped promoting NFTs in response to regulation issues from the Chinese language authorities, based on Reuters. Present NFT holders will nonetheless be allowed to maintain and show their tokens, or they’ll put in a request for a refund.
The time period ‘NFT’ itself has turn into barely taboo and infrequently used all through the broader Chinese language company world, due a minimum of partly to its direct ties with cryptocurrency, which is unlawful in China.
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