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Ford to Enter the Metaverse with Virtual Automobiles and NFTs

Daily Market Wrap

  • Crypto market cap: 994.01 billion, up 1.85%

  • BTC price stands at USD 19,764, up 2.79%

  • ETH price stands at USD 1,664, up 2.28%

  • Top gainer: OKB (OKB), up 16.36%

  • Top loser: Helium (HNT), down 8.07%

News of the Day

Why it matters:

  • Ford has filed 19 trademark applications covering its car brands, claiming plans for virtual cars, clothing and a proposed marketplace for NFTs

  • Coming less than a month after announcing global staff cuts and reduce expenditure, the company has revealed plans for “downloadable virtual goods”, namely “computer programs” featuring vehicle parts for usage in “online virtual worlds”

  • Ford is not the first automobile company to move into the web3 space, with Bentley and Lamborghini having already rolled out NFT collections

Crypto Daily Spotlight

Brief introduction: The Sandbox is a virtual gaming world where players can play, build, own, and monetize their virtual experiences on LAND they own using NFTs and $SAND, the platform’s main utility token. The Sandbox powers its virtual economy that incorporates the UGC, avatar-centric experiences, gaming and financial systems.

Why it matters:

  • The Sandbox’s instagram was compromised, with a link on its profile directing followers to a fraudulent raffle

  • Hackers contacted users to rent out their BAYC NFT for 24 hours, offering them 40 Ether, and one user claims to have lost their NFT

  • Posts, stories and the link directed viewers to a fake website, prompting users to connect their web-based wallets

Daily Sector Tracker

Daily News Roundup

  1. Law enforcement recovers $30 million from Ronin Bridge hack with the help of Chainalysis

  2. Coinbase Backs Lawsuit Against US Treasury

  3. Polygon CSO blames Web2 security gaps for recent spate of hacks

  4. Binance adds former Mexico securities chief to new global advisory council

  5. Crypto Influencer Cooper Turley Creates $10M ‘Coop Records’ Music Startup Fund

About Aspen Digital

Aspen Digital is a leading technology and financial services company with a mission to accelerate the mass adoption of digital assets. The company provides a digital asset management solution for asset managers, institutions, and sophisticated investors. Aspen Digital was co-founded by digital assets innovators and asset management veterans at Everest Ventures Group (“EVG”) and TT Bond Partners (“TTB”) in 2021.

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