Court-ordered NFTs and the importance of Web3 randomness: Nifty Newsletter

Prashant Jha5 hours agoCourt-ordered NFTs and the importance of Web3 randomness: Nifty NewsletterA Singapore court permitted the use of NFTs to attach legal court orders tokenized as an NFT to issue a freeze order.611 Total views4 Total sharesListen to article 0:00NewsletterJoin us on social networks​​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 nonfungible token (NFT) became a focus point in a Singapore court battle, learn about the importance of decentralized randomness in the Web3 gaming sector and find out why Universal Music Group is suing Anthropic over copyright infringement.Singapore court authorizes freeze order attached to wallets as soulbound NFT

The Singapore High Court has allowed financial investigation firm Intelligent Sanctuary to attach NFTs containing a legal document to cold wallets associated with a hack, according to United Kingdom-based iSanctuary and local press accounts.

A court-issued worldwide freeze order was tokenized as soulbound NFTs and attached to the wallets in question. The NFTs will not prevent transactions with the wallets but will serve as a warning to counterparties and exchanges that the wallets were involved in a hack. In addition, iSanctuary claimed it had devised a means of tracking funds leaving the wallets, thanks to the NFTs. The NFTs will be permanently attached to the wallets.

Continue readingWeb3 Games need decentralized randomness to be fair

Random numbers are of great importance in a number of applications, including games, security systems, decentralized autonomous organization governance and NFT generation. If your game cannot access randomly generated numbers, your starts will become repetitive and stale. If your security system relies on easily guessed authentication codes, it isn’t providing much security. If any system that needs variety isn’t getting it, it won’t be very effective.

For many applications, this is effective. True randomness is not required in every application. In a video game with random encounters, for example, there may only be a limited number of actions the game can take at any given time. A pseudorandom number generator (PRNG) that provides values outside a given scope isn’t going to be of much use. When the stakes are low, technical requirements often match. However, the quality of a PRNG can vary dramatically. This can be an issue for applications with higher stakes, with many people depending on them or in various use cases.

Continue readingUniversal Music Group sues Anthropic over copyright infringement

Universal Music Group, Concord Publishing and ABKCO Music & Records have filed a lawsuit against the artificial intelligence startup Anthropic, accusing the latter of committing copyright infringement when training its artificial intelligence chatbot, Claude.

The lawsuit was filed on Oct. 18 and claims that Anthropic “unlawfully” copied and disseminated “vast amounts of copyrighted works - including the lyrics to myriad musical compositions” that are under the ownership or control of the publishers.

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Thanks for reading this digest of the week’s most notable developments in the NFT space. Come again next Wednesday for more reports and insights into this actively evolving space.# Blockchain# Singapore# Adoption# Court# NFTAdd reactionAdd reactionRead moreBlockchain companies are creating AI chatbots to help developersWill Sam Bankman-Fried fix his case when he takes the stand?Bitcoin Ordinals creator Casey Rodarmor pitches BRC-20 alternative ‘Runes’