Welcome to the latest edition of Cointelegraph’s Nifty Newsletter. Continue reading to stay up to date with the latest stories on non-fungible tokens. Every Wednesday, the Nifty Newsletter informs and inspires you to delve into the latest nft trends and insights.
In this week’s newsletter, read about how a non-fungible token (nft) became a focal point in a Singapore court battle, learn about the importance of decentralized randomness in the Web3 gaming sector, and find out why Universal Music Group is suing Anthropic for copyright infringement.
Singapore Court Clears Freezing Order Attached to Wallets as Souled NFTs
Singapore’s High Court has allowed financial research firm Intelligent Sanctuary to attach NFTs containing a legal document to cold wallets associated with a hack, according to UK-based iSanctuary and local press accounts.
A court-issued global freeze order was tokenized as soul-linked NFTs and attached to the wallets in question. The NFTs will not prevent transactions with the wallets, but will serve as a warning to counterparties and exchanges that the wallets were involved in a hack. Furthermore, iSanctuary claimed that it had devised a means of tracking funds leaving wallets, thanks to NFTs. The NFTs will be permanently attached to the wallets.
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Web3 games need decentralized randomness to be fair
Random numbers are of great importance in a number of applications, including games, security systems, governance of decentralized autonomous organizations, and generation of NFTs. If your game can’t access randomly generated numbers, your startups 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 needs variety doesn’t get it, it won’t be very effective.
For many applications, this is effective. True randomness is not required in all applications. In a video game with random encounters, for example, there may only be a limited number of actions the game can perform at any given time. A pseudorandom number generator (PRNG) that provides values outside a certain range will not be of much use. When the stakes are low, the technical requirements often coincide. However, the quality of a PRNG can vary drastically. This can be a problem for higher risk applications, where many people depend 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 ai startup Anthropic, accusing the latter of copyright infringement by training its ai chatbot, Claude.
The lawsuit was filed on October 18 and claims that Anthropic “illegally” copied and disseminated “large quantities of copyrighted works, including the lyrics of countless musical compositions” that are owned or controlled by the publishers.
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Thanks for reading this roundup of the week’s most notable developments in the nft space. Check back next Wednesday for more reports and information on this ever-evolving space.