Magic Eden integrates compressed NFTs, Meta launches metaverse game, and more!

Meta’s Horizon Worlds launches on mobile and web in early access

Meta, the company behind the metaverse concept, has begun rolling out its Horizon Worlds on mobile devices and web browsers. The initial release includes a free-for-all shooter game called Super Rumble, which allows two to six players to engage in fast-paced shooting matches. While the launch is currently in early access and limited to a small number of players, Meta plans to gradually expand the game and add more experiences and worlds to the metaverse in the near future.

Bitcoin Ordinals creator proposes to change inscription numbering system

Casey Rodarmor, the creator of Bitcoin Ordinals, has suggested changing the numbering system for Bitcoin NFTs. Rodarmor believes that the current system has resulted in "ugly code and stalled development." To address this, he has proposed making inscriptions permanently unstable, which would simplify the protocol and make upgrades easier. While this change may introduce some inaccuracies in the numbering system, the overall system will not be completely scrapped.

Magic Eden integrates Solana’s compressed NFTs into marketplace

NFT marketplace Magic Eden has integrated compressed NFTs (cNFTs) by Solana into its platform. These cNFTs store their data off-chain, allowing users to experiment without spending significant amounts of money. They are particularly well-suited for mass-produced NFTs in industries like music, gaming, and events. With cNFTs, users can mint up to one million NFTs for just around $110.

Play-to-earn games are the reason "real" gamers hate crypto: Atari founder

In a recent interview with Cointelegraph, Atari founder Nolan Bushnell expressed his belief that play-to-earn (P2E) games are why traditional gamers are skeptical of cryptocurrencies. Bushnell argued that "good gamers" do not enjoy grinding for rewards and suggested that Web3 gaming should focus on building immersive virtual reality and augmented reality worlds instead of relying on P2E mechanics.

Stoner Cats NFTs are "fan crowdfunding," not securities — SEC’s Peirce, Uyeda

The United States Securities and Exchange Commission (SEC) has charged the NFT collection Stoner Cats with offering unregistered securities. The SEC alleges that the NFTs were marketed as having potential for secondary sales and implied that their value would increase. However, SEC commissioners Hester Pierce and Mark Uyeda published a dissenting statement, arguing that the project should be seen as fan crowdfunding rather than securities. They believe that similar arrangements are common in the creator space.

Thank you for reading this digest of the week’s most significant developments in the NFT space. Join us again next Wednesday for more reports and insights into the rapidly evolving world of NFTs.