PayPal filed a patent application for a system that lets users transfer and purchase nonfungible tokens.
In this week’s newsletter, read about how a nonfungible token (NFT) artist raised money to support a cancer charity and why payments platform PayPal has filed a patent application for an NFT marketplace. Check out Meta’s new photorealistic metaverse avatars and, in other news, learn why Neal Stephenson’s metaverse blockchain project remains optimistic despite waning interest.
NFT artist raises $140,000 for cancer support charity
NFT artist Trevor Jones donated almost $140,000 to Maggie’s Edinburgh — an organization dedicated to cancer treatments — after raising funds from a Web3 event in France. The amount raised from the event will help 4,000 patients affected by cancer and those who need critical support.
According to Maggie’s Edinburgh, the funds raised by Jones will be the highest single donation from an art event in the organization’s history. The money collected will support services for cancer patients and their families.
PayPal applies for NFT marketplace patent for on- or off-chain asset trading
Payment platform PayPal filed a patent application for an NFT transfer and purchase system. The patent application was filed at the United States Patent and Trademark Office in March and was made available publicly in September.
The patent described a system that lets users buy and sell NFTs through a service provider. While the provider was not mentioned, the document did mention Ethereum, suggesting that it may be based in the network.