Hugo Boss releases first NFTs under Gen Z brand as part of Web3 push

Hugo Boss’s Gen-Z brand Hugo will be releasing a new NFT collection designed to increase awareness around mental health. The 3D characters, representing joy, sadness, fear, anger and love, were created in partnership with Singapore-based NFT collection Imaginary Ones and will be released in November. One emotion-combining character will also be auctioned off in October, with the proceeds going to the charity Youth Aware of Mental Health. > Read more

JPEGs Are 'Not the Future of Web3 and NFTs': Polygon Studios Metaverse Lead

Brian Trunzo, the metaverse lead of Polygon Studios, has discussed future uses for NFTs and Web3 technology. Trunzo is certain that right-click-save JPEGs are not the future of Web3 and NFTs, but rather these assets will be used as a technology layer rather than an asset class themselves. He also believes that Web3 will be measured in gamification and brand immersion, rather than engagement, with NFT-powered programs designed to engage users across digital and physical spaces. > Read more

Mastercard pushes deeper into crypto with new tool for combating fraud

Credit card giant Mastercard has announced the launch of a new tool called Crypto Secure. This service will enable banks to assess the risk of crime associated with crypto merchants on its network. The tool is powered by CipherTrace, a blockchain security start-up, and will utilise “sophisticated” artificial intelligence algorithms along with data from the blockchain and a public record of crypto transactions. > Read more

Kim Kardashian pays $1.26m over crypto 'pump and dump' 

Kim Kardashian has agreed to pay $1.26m for advertising EthereumMax on her Instagram account without disclosing the content as a paid advertisement. She was accused of having promoted the currency in order to inflate the price before selling it to investors and has also agreed refrain from promoting cryptocurrencies for the next three years.  > Read more

EU Puts Crypto at Top of List for IMF Meetings, McGuinness Says

The European Union has put a discussion about the development of crypto legislation with US officials at the top of the list of topics for next week’s International Monetary Fund-World Bank annual meetings. This meeting coincides with EU attempts to introduce key legislation to regulate the crypto sector with common rules across all 27 member states, as central bankers have been urging governments around the world to better synchronize regulations. > Read more

Apple CEO Tim Cook doesn’t like the metaverse—he predicts a different technology will shape the future

Tim Cook has predicted that augmented reality technology (AR) will have a more profound impact on the future than previously anticipated by metaverse fans. Cook raised the many benefits of AR for social and technological developments and emphasised the impact this kind of technology could have on the medical and education sectors. Apple is also reportedly developing an AR/VR headset, which is due to be released in 2023. 
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Israeli embassy opens in metaverse

The Embassy of Israel in Korea has expanded into the metaverse, thus becoming the first virtual diplomatic mission. A pavilion in the metaverse, in which visitors are greeted by Albert Einstein, was opened to offer information about Israel and promote exchanges between the two countries. This move not only aims to be an act of public diplomacy, but also to bring real people to Korea and to hold in-person conferences and in-person cultural performances. > Read more