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Safeguarding CryptoZoo: Logan Paul Denies Scam as Munchables Enhances Security

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Safeguarding CryptoZoo: Logan Paul Denies Scam as Munchables Enhances Security

In this week’s newsletter, we delve into the details of a new documentary featuring YouTuber Logan Paul and his controversial nonfungible token (NFT) project called CryptoZoo. We explore OpenSea’s recent update enabling support for the ERC-721C token standard, and we discuss how the crypto game Munchables is recovering after a security breach. We examine how a Web3 game called Wilder World has managed to secure a spot in the Epic Games Store before its official launch.

In his video documentary released on March 28, YouTuber Logan Paul addresses the criticism surrounding his NFT project, CryptoZoo. Paul defends the project, claiming that it is not a scam because he himself lost money in the venture. He expresses his dissatisfaction with being portrayed as a villain in a one-sided story and emphasizes that the CryptoZoo saga is far from over. The project faced backlash from investors who filed a class-action lawsuit against Paul after the project failed to gain traction.

OpenSea, a popular NFT marketplace, has introduced a new feature to its platform. On April 2, OpenSea announced its support for the ERC-721C token standard, which allows creators to set royalties on their collections and enforce them. This feature is significant because it prevents users from bypassing royalty commissions on secondary markets, ultimately protecting creators’ earnings. OpenSea’s implementation of this token standard ensures that artists can secure their profits and receive proper recognition for their work.

Munchables, an NFT game, recently experienced a theft of $68 million by a rogue developer. The platform has taken measures to prevent a similar incident in the future. The project underwent a complete team restructuring and sought assistance from external entities to enhance its security. Munchables reworked its multisig system and added Manifold Trading, Selini Capital, and ZachXBT as signers to ensure the return of funds to users. These changes demonstrate Munchables’ commitment to safeguarding its users’ assets and preventing future breaches.

Wilder World, a Web3 game, achieved a notable milestone by securing a listing on the Epic Games Store even before its official launch. This metaverse game promises players a free-roam virtual world experience with the integration of Web3 elements like NFTs and blockchain technology. By collaborating with Polygon and Celestia, Wilder World aims to create a custom and scalable blockchain hosting their virtual environment. The game boasts a marketplace where players can trade digital assets such as items, lands, equipment, and avatars. This listing on the Epic Games Store provides significant exposure for Wilder World and sets the stage for its upcoming launch.

This week’s newsletter covered various topics, ranging from YouTuber Logan Paul’s defense of his CryptoZoo project to OpenSea’s support for the ERC-721C token standard. We also discussed Munchables’ efforts to strengthen its security measures after a significant theft and the exciting development of Wilder World securing a spot in the Epic Games Store. These updates showcase the continuous growth and innovation within the NFT and Web3 gaming space.

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