FINRA metaverse warning, Lazarus NFT attack, Thiel backs NFTs: Nifty Newsletter

FINRA says rules still apply in the metaverse

FINRA published a report providing potential regulatory implications for finance and securities companies that operate in the metaverse. The non-governmental, self-regulatory organization said that members of FINRA should be mindful of the metaverse’s implications to their regulatory obligations. 

In the report, FINRA highlighted that metaverse global revenue may reach $800 billion in 2024 and is expected to contribute over $3 trillion to the global gross domestic product by 2031. 

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Lazarus Group exploited Chrome vulnerability with fake NFT game

North Korean hacker group Lazarus used a fake NFT game to exploit a vulnerability in the Google Chrome browser. The malicious actors used the fake game to install spyware that extracted wallet credentials. 

The group’s game was fully playable and widely promoted on social media platforms. The game was called DeTankZone or DeTankWar and used NFTs as in-game assets. Kaspersky Labs analysts flagged the exploit to Google, which applied a fix. 

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Peter Thiel’s fund pushes Infinex NFT investments to $67.7 million

Patrons, the NFT collection of Infinex, exceeded $67.7 million in investments as billionaire and former PayPal CEO Peter Thiel’s Founders Fund backed the project. The platform also announced that the Patrons NFTs could be withdrawn from Oct. 28 and sold in secondary marketplaces like OpenSea. 

The investments came despite a broad downturn in the NFT market. Blue-chip NFT collection CryptoPunks’ floor price is down by 76% from its peak valuation. Bored Ape Yacht Club NFTs are down by 91% from their peak floor price. 

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Independence Day director creating TV series based on Web3 game

The game allows players to take on the role of space captains. It features Web3 elements, including NFTs that can be bought, sold and traded. 

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