Web 3.0 Woundup – 21/05/23

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This week’s Web 3.0 Woundup sees a Fast & Furious NFT collection, an ApeCoin accelerator, and China seeking harsher punishments for NFT crimes.

They really have no chill, do they?

Fast & Furious NFT Collection Announced

Toy giant Mattel this week announced a new NFT collection featuring cars in the popular Fast & Furious movie franchise. Dubbed Fast & Furious x Hot Wheels NFT Garage Series, the collection will go live next week Monday 22 and will offer collectors extra perks such as the chance to own a physical model of a car in their holding.

The new NFT collection comes less than a week after Mattel partnered with Boss Beauties to publicize Web 3.0 among Women and shows that the company sees huge potential in this new paradigm.

ApeCoin DAO Launches Accelerator

ApeCoin DAO this week revealed plans to unveil a launchpad for projects building around Bored Ape NFTs and the APE token. Known as Ape Accelerator, the program will be in the hands of the ApeCoin community who will decide which projects are incubated by voting with their APE tokens.

Projects in the program will be mandated to embrace the APE token after launch to boost the token’s adoption and by extension Bored Ape NFTs.

China Calls for Tougher Sentences Over NFT Crimes

Chinese prosecutors this week recommended harsh punishment for NFT crimes, likening virtual collectibles to cryptocurrencies. Through China’s national legal prosecution agency, The Supreme Procuratorate of the People’s Republic of China, the prosecutors believe that the popularity of NFTs in the country doesn’t make virtual collectibles immune to financial, security and legal risks. However, they also recognize the fact that digital collectibles can be used to advance blockchain use cases in the country.