In this week’s newsletter, read how Germany’s flagship airline Lufthansa is using non-fungible tokens (NFTs) to reward loyal customers and how soccer superstar Cristiano Ronaldo teased his future NFT plans during a lie detector test. Find out why a law professor thinks the metaverse should be taxed, and discover how artificial intelligence (AI) and NFTs can provide children with a personalized learning experience. And don’t forget about this week’s Nifty News, with a Mutant Ape NFT selling for over $800,000 amid an ongoing downward price trend.
Lufthansa launches NFT loyalty program on Polygon
Lufthansa’s innovation unit has teamed up with its frequent flyer program division to launch Uptrip – an NFT loyalty program running on the Polygon network. It allows loyal customers to receive rewards by converting their trips into NFT collections.
The program allows airline customers to scan their boarding passes and exchange them for collectible NFTs. When completed, the NFT Collections can be used to redeem rewards such as lounge access and flight upgrades.
Ronaldo teases NFT plans during a lie detector test
Football star Cristiano Ronaldo was given a lie detector test to celebrate the release of his second NFT collection in July. While on the lie detector, the athlete said he would release more NFTs in the future. The test confirmed that he was telling the truth. When asked if he owns NFTs, the footballer replied ‘yes’ again, with the test reaffirming his answer.
In 2022, Ronaldo signed a multi-year partnership with the NFT unit of crypto exchange Binance. The partnership aims to introduce Web3 technologies to football fans around the world via NFTs.
Not taxing the metaverse ‘will create a tax haven’ – Harvard legal expert
Law professor Christine Kim published an article presenting arguments about taxing the metaverse. According to Kim, the metaverse should be regulated under the tax code. Kim argued that if it is not taxed, the country will turn into a “tax haven.”
The professor also highlighted a number of tax proposals. Of these, Kim suggested that taxation should occur immediately upon receipt of profits, including unrealized profits and income.
Animoca subsidiary builds AI and NFT tools for educators
Education-focused technology platform TinyTap has announced the integration of NFT and AI tools for parents and teachers. According to the announcement, AI integration will enable the platform’s users to create educational games using an actual prompt.
After setting the prompt, the AI generates the game within minutes. According to Yogev Shelly, CEO of TinyTap, the tools will help accelerate content creation and access, enabling teachers and parents to deliver personalized learning experiences to children.
Useful news: Adidas reveals resident Web3 artists, Mutant Ape sells for 500 ETH and more
NFT company Yuga Labs has announced that it will launch its metaverse game Legends of the Mara later in September. Meanwhile, a Mutant Ape sold for over $800,000 despite the downtrend in the NFT market.