NFT Holders Take Legal Action Against Art Gallery Amid Ubisoft's Web3 Game Launch

A group of NFT holders has initiated legal proceedings against Eden Gallery, alleging that the gallery failed to deliver on its promise of a metaverse-based private club. This lawsuit comes at a time when Ubisoft is gearing up to launch a new Web3 game, highlighting the growing intersection of NFTs and gaming.

Key Takeaways

• NFT holders claim Eden Gallery did not fulfill its promise of creating a metaverse club.

• The Meta Eagle Club project raised approximately $13 million for 12,000 NFTs.

• Allegations include lack of experience in blockchain development among the project team.

• Ubisoft is set to launch a new Web3 game that incorporates NFTs as in-game assets.

NFT Holders Sue Eden Gallery

The lawsuit against Eden Gallery centers around the Meta Eagle Club, a collection of NFTs that was marketed as a gateway to an exclusive metaverse experience. The NFT holders allege that the gallery has not made any significant progress in developing the promised club, despite updates suggesting otherwise.

The project reportedly raised around $13 million, with 12,000 NFTs sold. However, the plaintiffs argue that the team behind the project lacked the necessary expertise in blockchain technology, raising concerns about the viability of the promised metaverse.

The Role of Gaming in Web3

As the NFT landscape evolves, gaming has emerged as a crucial platform for testing new technologies. Christian Thompson, Chief Information Security Officer at Mysten Labs, emphasized that gaming serves as a sandbox for developers to explore innovations like NFTs and artificial intelligence.

Thompson noted that gaming allows technologists to experiment with new avenues, making it an ideal environment for the development of Web3 technologies.

Ubisoft's Upcoming Web3 Game

In related news, Ubisoft is preparing to launch a new Web3 game that has already garnered attention. The game, titled "Off The Grid," is a third-person shooter that has quickly climbed to the top of the free-to-play games chart on the Epic Games store.

This game incorporates NFTs as in-game assets, allowing players to mint and trade these items in secondary markets. The integration of NFTs provides players with greater control over their in-game items, enhancing the overall gaming experience.

Conclusion

The legal action taken by NFT holders against Eden Gallery underscores the challenges and complexities within the NFT space, particularly regarding promises made by creators. As gaming continues to evolve and integrate Web3 technologies, the outcomes of such lawsuits may have significant implications for the future of NFTs and their role in digital experiences.

Sources

• NFT holders sue art gallery, Ubisoft to launch Web3 game: Nifty Newsletter, Cointelegraph.

• NFT holders sue art gallery, Ubisoft to launch Web3 game: Nifty Newsletter: Guest Post by Cointelegraph | CoinMarketCap, CoinMarketCap.