Decentraland Foundation executive director Yemel Jardis believes the NFT market slump is not a sign of regression but maturity.
Welcome to the latest edition of Cointelegraph’s Nifty Newsletter. Keep reading to stay up-to-date with the latest stories on nonfungible tokens. Every Wednesday, the Nifty Newsletter informs and inspires you to dig deeper into the latest NFT trends and insights.
In this week’s newsletter, read about how a parliamentary committee in the U.K. has urged officials to take action on nonfungible token (NFT) copyright infringement issues. Check out a Web3 executive’s thoughts on how the NFT market slump is actually a sign of maturity, and in other news, learn more about an incident in which MetaMask was briefly removed from Apple’s App Store.
British MPs urge action on NFT copyright infringement, crypto fan tokens
A bipartisan parliamentary committee recently urged officials in the United Kingdom to take action to protect creators from the possibilities of copyright violations stemming from NFTs. The committee also asked the government to address the potential harms of sporting groups issuing digital assets.
According to the committee members, the “most pressing issue” is the risk to the intellectual property rights of artists due to the ease and speed at which NFTs can be minted.
NFT market slump shows it’s maturing toward “genuine utility,” execs argue
The executive director of the Decentraland Foundation, Yemel Jardis, told Cointelegraph he believes that with more community education on NFTs, the focus will shift from speculative trading to genuine utility.
According to the executive, a steep collapse in the price of NFTs shouldn’t be seen as a sign of distress. Jardi said the NFT market has not “regressed” — rather, “it’s maturing.”
Apple briefly pulls MetaMask from App Store
The Ethereum wallet MetaMask, popular among NFT collectors, was removed from Apple’s App Store for several hours on Oct. 14. This raised concerns over a complete removal from the marketplace.
At the time, Apple users were also unable to download the application from the MetaMask website. Some speculated that Apple’s terms of service were behind the app’s disappearance. According to the App Store’s rules, apps running “unrelated background processes,” such as cryptocurrency mining, are prohibited.
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