Logan Paul Defends CryptoZoo: "Not a Scam" Despite Investor Lawsuit

This week's newsletter highlights YouTuber Logan Paul's defense of his controversial NFT project CryptoZoo in a documentary. OpenSea introduces support for ERC-721C, enabling creators to enforce royalties on their NFT collections. Munchables overhauls its security measures following a multi-million dollar theft. Web3 game Wilder World makes history by being listed on the Epic Games Store during its alpha testing phase.

Logan Paul's CryptoZoo Defense: "Not a Scam" Despite Investor Lawsuit

In a recently released video documentary, controversial YouTuber Logan Paul has defended his involvement in the nonfungible token (NFT) project CryptoZoo, vehemently denying allegations of scamming investors. Amidst a class-action lawsuit filed against him by disgruntled investors, Paul maintains that the NFT project was not fraudulent, citing his own financial losses as evidence.

Paul's documentary attempts to present a comprehensive defense, arguing that he was not solely responsible for the project's failure and that he, too, suffered financial setbacks due to its collapse. He claims that the CryptoZoo saga is far from over, indicating his intention to continue advocating for his stance and to address the negative publicity that has painted him as a villain.

OpenSea's ERC-721C Support: Empowering Creators and Enforcing Royalties

The NFT marketplace OpenSea has taken a significant step towards protecting creators' earnings by enabling support for the ERC-721C token standard. This innovative standard allows creators to set and enforce royalties on their collections, ensuring that they receive fair compensation for their work.

Prior to the implementation of ERC-721C, creators were vulnerable to royalty bypass on secondary markets by platforms that did not honor royalty requirements. However, this new standard safeguards creators' earnings, ensuring that they are adequately compensated for their contributions.

Munchables Revamps Security Measures After $68 Million Theft

Following a devastating $68 million theft orchestrated by a rogue developer, the NFT game Munchables has implemented a comprehensive plan to prevent similar incidents in the future. The platform has restructured its team, onboarding highly respected entities to enhance its security infrastructure.

To strengthen accountability and prevent unauthorized transactions, Munchables has reworked its multisig process, appointing Manifold Trading, Selini Capital, and ZachXBT as signers. This ensures that funds will be returned to users in the event of any future compromise.

Wilder World's Epic Games Store Debut: Web3 Gaming Takes Center Stage

In a groundbreaking move, the Web3 game Wilder World has secured a listing on the Epic Games Store, even before its official launch. The metaverse game offers a free-roam virtual world seamlessly integrated with Web3 elements like NFTs, leveraging blockchain technology to power its immersive experience.

Wilder World's partnership with Polygon and Celestia has facilitated the creation of a custom, scalable blockchain specifically for the game's virtual world. All items, lands, equipment, and avatars within the game will be tradable digital assets in its dedicated marketplace.

Closing Remarks

This week's digest has showcased a spectrum of developments in the NFT space, from controversial NFT projects to groundbreaking technological advancements. As the NFT industry continues to evolve at a rapid pace, we can expect to witness further innovation and disruption in this dynamic and ever-changing landscape. Stay tuned next Wednesday for more in-depth reports and insights into the latest happenings in the world of NFTs.