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Non-fungible tokens (NFTs) have become a game-changing technology in the gaming industry, enabling a new era of play-to-earn mechanics and decentralized ownership. NFTs are unique digital assets that represent ownership or proof of authenticity of in-game items, characters, or skins. In traditional gaming, players do not truly own the items they purchase, as they are controlled by the game developers. NFTs, however, allow players to truly own their in-game assets, which can be bought, sold, or traded on blockchain-based marketplaces. Play-to-earn games are a key feature of this new landscape. In these games, players can earn NFTs by completing tasks, leveling up, or participating in gameplay. These NFTs can have real-world value, which creates opportunities for players to generate income. For instance, some players have made substantial profits by trading rare in-game items or characters in NFT marketplaces. The introduction of NFTs also fosters a deeper connection between players and ...

In a recent legal development, a judge has ruled that Digital Currency Group is prohibited from making ownership changes within Genesis until DCG successfully exits bankruptcy. This decision safeguards Genesis under DCG’s tax consolidated group, granting specific benefits to the crypto lender amidst its bankruptcy status. The protective benefits will remain in force until the effective date of a Chapter 11 plan or if the bankruptcy transitions to a Chapter 7 case, resulting in business liquidation. Genesis, arguing its case since late November, emphasized the necessity of DCG maintaining a stake above 80% to preserve the potential value of its holding company’s interest in the federal net operating loss (NOL) carryforwards of the DCG Group. You might also like: DCG and Genesis reach landmark settlement over bankruptcy Net operating loss carryforwards serve as a tax advantage, enabling Genesis to deduct losses from future profits. Genesis, estimating over $700 ...