Robbie Williams to debut in metaverse with LightCycle 🎉

Gm Degens,

Welcome back to our weekly dose of No Rug News. We are dedicated to bringing you the latest Web3 events as they happen. Buckle up, we are going to the moon today🚀.

Here is what we have for you today

• Robbie Williams to debut in metaverse with LightCycle

• OnlyFans, Patreon models turn to Web3 amid payment and censorship fears

• PSG’s innovative NFT poster collection

Trending 🔥

• New ‘Liquid restaked token’ tests staking same ETH multiple times (cryptonews)

• a16z suggests Machiavelli to fix decentralized governance (cointelegraph)

• Authors Guild v. OpenAI copyright infringement lawsuit takes a new turn (cryptopolitan)

• Mythical Games brings Blankos Block Party game to mobile (Nftnews)

• Galaxy Digital targets Europe for crypto expansion (cryptonews)

• Farmville co-creator-led company raises $33M to create Web3 games (cointelegraph)

• ASIC initiates legal action against Bit Trade over its crypto product (cryptopolitan)

• Microsoft’s ambitious Xbox vision: From new hardware to crypto integration (nftnews)

• IMX token jumped by 33% in a few hours, experts suspect market manipulation (cryptonews)

• Near Foundation CEO Marieke Flament resigns (cointelegraph)

• The DAACI AI-Powered ‘Meta-Composition’ to Reshape Music Creation (cryptopolitan)

Here is what else we dug for you

Australian regulator sues Kraken provider over non-compliance

ASIC charges Bit Trade, Kraken's Australian subsidiary, with failing to designate a target market before launching its margin trading product. The Australian Securities and Investments Commission (ASIC) has launched legal action against Bit Trade Pty Ltd, the company that operates Kraken Crypto Exchange.

Here is what we know about the story:

• The Australian Securities and Investments Commission (ASIC) has launched legal action against Bit Trade Pty Ltd, the provider of Kraken Crypto Exchange.

• According to a Sept. 21 statement, the regulator claims that the company's noncompliance with Australian financial regulations cost Australian consumers $12.95 million.

• The action revolves upon Bit Trade's margin trading product, which ASIC argues did not meet Australian law's design and marketing standards.

• The agency claims, in particular, that Bit Trade failed to effectively establish a target market before releasing the product to Australian clients.

OnlyFans, Patreon models turn to Web3 amid payment and censorship fears

Patreon authors had trouble getting paid in August, and OnlyFans once tried to restrict erotica on the platform, leading producers to hunt for alternatives, such as Web3.

Here is what we know about the story:

• Following recent payment troubles and the ever-present fear of being deplatformed, adult content providers have continued to gravitate towards decentralized versions of OnlyFans and Patreon.

• According to Leon Lee, founder and CEO of Only1 — a decentralized version of OnlyFans — a recent power shift from middlemen to content providers has occurred as a result of Web3.

• Many video makers will also recall OnlyFans' attempt to restrict sexually explicit content in 2021, only to reverse the decision days afterwards.

• In this regard, Lee contends that creators will always be at risk of deplatforming as long as they remain on centralized platforms that use traditional payment rails.

PSG’s innovative NFT poster collection

Paris Saint-Germain (PSG) and artistic director Benjamin Benichou have collaborated to merge the worlds of technology and art. This season, the famed football team uses artificial intelligence to create an enthralling collection of match posters.

Here is what we know about the story:

• Paris Saint-Germain (PSG) and artistic director Benjamin Benichou have collaborated to bring the worlds of technology and art together.

• This season, the legendary football club dives into the area of artificial intelligence to create an enthralling collection of match posters.

• This is the first time PSG has used artificial intelligence in a creative endeavor.

• The big endeavor necessitated the creation of an elaborate guide that entwined a wide range of graphic and historical components.

NFT Spotlight: Sasha Stiles

In under a year, Sasha Stiles quickly became one of the biggest advocates for literary NFTs and the growing AI NFT art movement. A first-generation Kalmyk-American poet, artist, and AI researcher, she creates art at the intersection of text and technology. A pioneer of generative literature, Stiles is the recipient of a Future Art Award and a nominee for the Forward Prize, Pushcart Prize, and Best of the Net. Having received numerous other accolades in the Web3 and NFT spheres, her work has been widely exhibited and auctioned, and provides possibly the most robust use case for prosperity at the intersection of literary NFTs and AI art.

Essential links: X,

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