In advance of its impending earnings report, the retailer of video games GameStop reportedly fired a second group of workers today, according to reports and social media posts from those who were affected. According to Axios, the staff responsible for the company's cryptocurrency wallet was particularly heavily impacted. Lead software engineer at GameStop Daniel Williams wrote on LinkedIn earlier today that "another huge wave of layoffs at GameStop is presently in action," adding that "many of

Nonfungible Token (NFT) collections, according to a Chinese court in the city of Hangzhou, are online virtual properties that must be protected by Chinese law. The Hangzhou Internet Court, a specialized internet court, published a document on November 29 that was shared by cryptocurrency blogger Wu Blockchain on December 5. The report discloses the favorable language for NFTs after the country started to crack down on cryptocurrencies in 2021, placing NFTs in a legal grey area. According to th

The legacy web developer and internet browser Mozilla announced its acquisition of Active Replica as part of its Hubs creator ecosystem to enhance digital experiences. Mozilla, a web browser and legacy web developer, revealed that it had acquired Active Replica as part of its Hubs creative ecosystem to improve digital experiences. Legacy internet browser Firefox is the latest to embrace the metaverse. Firefox developer Mozilla has announced the acquisition of Active Replica, an immersive exp

The State Bank of Pakistan enacted new legislation for Electronic Money Institutions (non-bank businesses that provide digital payment instruments) to ensure the timely issue of a CBDC within the next three years. Central bank digital currencies (CBDCs) are seen by regulators throughout the world as a method to improve fiat capabilities by inheriting the financial expertise of the technology that fuels cryptocurrencies. Pakistan has joined this list by adopting new legislation to ensure the est

The city's first Metaverse postgraduate program, "Master of Science in Metaverse Technology," was created by Hong Kong Polytechnic University. Hong Kong Polytechnic University (PolyU) has started the city's first postgraduate Metaverse program. According to the PolyU website, the "Master of Science in Metaverse Technology" program will commence in September 2023. According to the course outline, the program's goal is to teach students about the nature of Metaverses as well as the underlying te

The CFDA has gathered a varied collection of American designers for a first-of-its-kind digital exhibition in the metaverse with the mission of bridging the past, present, and future of the fashion industry. The CFDA is 60 this year, so it's kind of like a birthday celebration. Both are part of the CFDA’s 60th anniversary celebrations– looking into the future via web3. The exhibit was conceptualized by creative consultant 5th Column. “Think of it as a mini MET exhibition in the metaverse, with

Bitcoin exchanges existed prior to the establishment of their NFT marketplace. During this year's Bored Ape Yacht Club frenzy, Coinbase published a trilogy of short videos based on the NFT initiative. According to Decrypt, the corporation has chosen to halt future production of the series after releasing the first book in the series in July. "We are continually refining our content strategy and have opted to suspend production on the remaining two films as we discover the best creative path for

Coinbase made the decision following Apple's policy for it to pay a 30% tax on gas fees of mobile NFT transfers.

According to budget documents made public on December 1, Italy intends to impose stricter rules on digital currencies in 2023 by extending its tax laws to cover cryptocurrency trading. From 2023 on, Italy will start taxing cryptocurrency capital gains at a rate of 26%. The tax levy is a suggestion made by the nation's legislators for its 2023 budget projections. The tax will only be charged on profits over EUR 2,000. Additionally, taxpayers will be able to report the value of their assets star

Although it is one of 134 businesses involved in FTX's bankruptcy proceedings, the Japanese subsidiary has been working on a plan to return user funds. After ensuring that its customers' funds are not included in FTX's bankruptcy proceedings, the Japanese subsidiary of the now-defunct FTX cryptocurrency exchange has released a plan for resuming withdrawals. On December 1, the company published an update, indicating that it has been able to confirm that the assets of its clients "should not" be