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 how a UK parliamentary committee urged officials to take action on non-fungible token (nft) copyright infringement issues. See a Web3 executive’s thoughts on how the nft market crash is actually a sign of maturity, and in other news, learn more about an incident where MetaMask was briefly removed from Apple’s App Store.
British MPs Urge Action Against nft Copyright Infringement and crypto Fan Tokens
A bipartisan parliamentary committee recently urged UK officials to take action to protect creators from the potential for copyright infringement arising from NFTs. The committee also called on the government to address potential harm from sports groups issuing digital assets.
According to committee members, the “most pressing issue” is the risk to artists’ intellectual property rights due to the ease and speed with which NFTs can be minted.
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Falling nft Market Shows It’s Maturing Toward ‘Genuine Utility,’ Execs Argue
Decentraland Foundation CEO Yemel Jardis told Cointelegraph that he believes that with increased community education about NFTs, the focus will shift from speculative trading to genuine utility.
According to the executive, a sharp collapse in the price of NFTs should not be seen as a sign of distress. Jardi said the nft market has not “regressed” but is “maturing.”
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Apple briefly removes MetaMask from the App Store
The MetaMask ethereum wallet, popular among nft collectors, was removed from Apple’s App Store for several hours on October 14. This raised concerns about a complete removal from the market.
At the time, Apple users were also unable to download the app from the MetaMask website. Some speculated that Apple’s terms of service were behind the app’s demise. Under App Store rules, apps that run “unrelated background processes,” such as cryptocurrency mining, are prohibited.
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