According to Cointelegraph, Google will update its crypto ad policy to allow advertisements for nonfungible token (NFT) games starting September 15. The change will permit NFT games that offer in-game item purchases, such as weapons or armor, to enhance user experience. However, games that allow players to stake NFTs or wager assets for rewards like cryptocurrencies or other NFTs will remain prohibited.
In other news, an Ethereum-based NFT project called Milady Maker was exploited by a developer within its ecosystem, resulting in the theft of $1 million in generated fees from Remilia, the decentralized autonomous organization (DAO) behind Milady. Charlotte Fang, a co-founder of the collection, announced that they had identified the individuals involved in the attack and would pursue legal action against them.
Additionally, United States-based commercial insurer CNA Financial has excluded NFT coverage from a $20-million policy for Schwab Strategic Trust. The exclusion states that the bond will not cover damages, losses, or lawsuits related to NFTs, which are defined as any digital identifier connected to digital ledger technology.
Lastly, The Sandbox co-founder and chief operating officer Sebastien Borget said that while the metaverse may not be as popular in Western countries, it is thriving in Asian markets such as Hong Kong, Korea, and Japan. According to Borget, approximately 50% of The Sandbox's business comes from these countries.
