OpenSea Faces Lawsuit, Infinex NFT Sales Surge, Puma Enters Web3, Philippines Promotes Blockchain Education

According to Cointelegraph, two OpenSea users have filed a class-action lawsuit against the NFT marketplace. The lawsuit, submitted on September 19 by Anthony Shnayderman and Itai Bronshtein, alleges that the NFTs they purchased on OpenSea are now worthless because they are illegal. OpenSea has refuted the allegations, describing the lawsuit as 'baseless.' An OpenSea spokesperson stated that a lawsuit based on their disclosure of a Wells notice 'won’t make the allegations in the complaint true.' A Wells notice from the SEC serves as a warning, outlining the regulator’s concerns and giving the potentially accused company an opportunity to respond, signaling that the agency may pursue enforcement action in the future. In other news, decentralized applications platform Infinex’s latest NFT collection reached $40 million in sales in its first four days, despite the ongoing NFT bear market. Infinex Core working group lead Kain Warwick mentioned that the collection is expected to attract more interest as it expands to the wider community. Due to its ongoing launch season, Infinex reached a total value locked (TVL) of over $150 million on July 25, with the platform’s TVL growing by $100 million in just the first 10 days of the campaign. Additionally, global footwear company Puma has partnered with the Web3 mobile game UNKJD Soccer. UNKJD CEO Tal Friedman stated that the partnership aims to unlock more player experiences, noting that when established brands like Puma embrace Web3, it signals a shift in the perception of blockchain technology from niche to mainstream. The partnership will introduce Puma-based characters and branded skins in the game. Meanwhile, the Philippines’ Advanced Science and Technology Institute, an agency under the nation’s Department of Science and Technology, conducted a tech forum on September 20 to educate the youth on blockchain technology’s potential. The agency explained that technologies like artificial intelligence, cybersecurity, and blockchain are reshaping both the public and private sectors. These developments highlight the ongoing evolution and growing interest in the NFT and blockchain space. Stay tuned for more updates and insights into this rapidly changing industry.