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