Web 3.0 Woundup –19/03/23

Reading Time: 2 minutes

This week’s Web 3.0 woundup sees someone being served legal papers through an NFT, Doodles ditching its roots, and Meta going into reverse over its NFT plans.

Let’s get to it!

Judge Approves Service of Court Papers Through NFTs

U.S. federal judge Beth Bloom this week allowed plaintiff Rangan Bandyopadhyay to serve court papers to the accused via NFTs in a first for the U.S. justice system. Judge Bloom, who oversaw the Kleiman vs Wright case, is overseeing this case where a group of hackers has been accused of draining close to $1 million USDT from the plaintiff’s wallet.

Judge Bloom said that the plaintiff should use the same wallet address used by the hackers, with court filings indicating that the malicious actor stole $971 in USDT. The court ordered the hackers to return the amount in full, adding that unpaid funds will continue to attract interest until the debt is fully settled.

Meta Rows Back on Instagram and Facebook NFT Plans

Meta chose the clattering of and chattering of a possible financial crisis to slip into the news feed that it is rowing back on its plans to roll out NFTs across Facebook and Instagram. The social media giant Meta made the call less than a year after announcing the project. 

Meta said that it’s not entirely abandoning digital collectibles as it’ll focus more on creators and continue investing in the metaverse. Meta’s fintech head Stephane Kasriel noted that the lessons learnt when supporting NFTs on the company’s social media platforms will help in charting the next way forward for people and businesses across the Meta ecosystem.

Doodles Wants to Move on From ‘NFT Project’ Tag

Doodles co-founder Jordan Castro this week revealed that the project is shedding its “NFT project” tag to help it focus on becoming a media franchise, two months after abandoning Ethereum for the Flow blockchain. The project has faced criticism from its community recently for building out its offering without much input from supporters, almost like they own it or something.

Although Castro said that the Doodles team aren’t completely abandoning the project, he clarified that they will work with the “most loyal” collectors and not those pushing for “financial motivations.” In the NFT space? Good luck finding those.