Non-fungible token marketplace Cent has shut down citing 'rampant' fakes and plagiarism problems.

"There's a spectrum of activity that is happening that basically shouldn't be happening - like, legally," said Cameron Hejazi, CEO and co-founder of the NFT marketplace Cent.

"It kept happening. We would ban offending accounts but it was like we're playing a game of whack-a-mole... Every time we would ban one, another one would come up, or three more would come up."

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The US-based firm had executed one of the first known million-dollar NFT sales when it sold the former Twitter CEO's tweet as an NFT.

The unique digital objects that confer ownership, are appealing due to the decentralised nature of blockchain technology. They allow users to create and trade digital assets without a central authority controlling the activity.

The biggest NFT marketplace, OpenSea, valued at $13.3 billion after its latest round of venture funding, said last month more than 80 per cent&nbsp;of the NFTs minted for free on its platform were "plagiarised works, fake collections and spam."

<a href="https://www.wionews.com/technology/beijing-olympics-2022-alibaba-launches-nft-in-traditional-chinese-ink-painting-style-451241">Also read |&nbsp;Beijing Olympics 2022: Alibaba launches NFT in traditional Chinese ink painting style</a>

Athletics giant Nike filed a lawsuit in New York on Thursday against shopping platform StockX for creating and marketing NFTs -- the tamper-proof digital property certificates -- based on the brand's products without permission.

The company's lawyers accused US-based StockX of "minting" NFTs using Nike trademarks and trading on the brand's "goodwill" to market them.

Such problems may come into greater focus as major brands join the rush towards the so-called "metaverse", or Web3. Coca-Cola and luxury brand Gucci are among companies to have sold NFTs, while YouTube said it will explore NFT features.

Investors and wealthy collectors have clamored in recent months to get involved in the latest digital craze, which relies on the same blockchain technology that powers cryptocurrencies and cannot be forged or otherwise manipulated.&nbsp;

Recent auctions have seen eye-watering sums paid for NFTs, including a staggering $69.3 million for a digital work by artist Beeple at a sale at Christie's.

Sales of NFTs, or non-fungible tokens, soared to around $25 billion in 2021, leaving many baffled as to why so much money is being spent on items that do not physically exist and which anyone can view online for free.

(With inputs from agencies)

Non-fungible token marketplace Cent has shut down citing 'rampant' fakes and plagiarism problems. "There's a spectrum of activity that is happening that basically shouldn't be happening - like, legally," said Cameron Hejazi, CEO and co-founder of the NFT marketplace Cent.

Non-fungible token marketplace Cent has shut down citing 'rampant' fakes and plagiarism problems. "There's a spectrum of activity that is happening that basically shouldn't be happening - like, legally," said Cameron Hejazi, CEO and co-founder of the NFT marketplace Cent. "It kept happening. We would ban offending accounts but it was like we're playing a game of whack-a-mole... Every time we would ban one, another one would come up, or three more would come up." The US-based firm had executed one of the first known million-dollar NFT sales when it sold the former Twitter CEO's tweet as an NFT. The unique digital objects that confer ownership, are appealing due to the decentralised nature of blockchain technology. They allow users to create and trade digital assets without a central authority controlling the activity. The biggest NFT marketplace, OpenSea, valued at $13.3 billion after its latest round of venture funding, said last month more than 80 per cent of the NFTs minted for free on its platform were "plagiarised works, fake collections and spam." Also read | Beijing Olympics 2022: Alibaba launches NFT in traditional Chinese ink painting style Athletics giant Nike filed a lawsuit in New York on Thursday against shopping platform StockX for creating and marketing NFTs -- the tamper-proof digital property certificates -- based on the brand's products without permission. The company's lawyers accused US-based StockX of "minting" NFTs using Nike trademarks and trading on the brand's "goodwill" to market them. Such problems may come into greater focus as major brands join the rush towards the so-called "metaverse", or Web3. Coca-Cola and luxury brand Gucci are among companies to have sold NFTs, while YouTube said it will explore NFT features. Investors and wealthy collectors have clamored in recent months to get involved in the latest digital craze, which relies on the same blockchain technology that powers cryptocurrencies and cannot be forged or otherwise manipulated. Recent auctions have seen eye-watering sums paid for NFTs, including a staggering $69.3 million for a digital work by artist Beeple at a sale at Christie's. Sales of NFTs, or non-fungible tokens, soared to around $25 billion in 2021, leaving many baffled as to why so much money is being spent on items that do not physically exist and which anyone can view online for free. (With inputs from agencies)

NFT platform that sold Dorsey's first tweet shuts down due to 'rampant' fakes

It&rsquo;s been only a week since the UK took the decision to Brexit but that one vote has altered the Britain I thought I knew. Born and raised in Canada, I have spent most of my professional life in the UK. It was my adopted home. I loved it and, in turn, I hoped it loved me.&nbsp; 
 
It doesn&rsquo;t. 
 
The vote to leave was largely an anti-immigrant vote and the Leave campaign seems to have given legitimacy to the ugliest facets of society &ndash; xenophobia and racism. 
 
I have spent the week interviewing experts on what the vote means for Britain. It turns out some of the brightest minds are foreign-born &ndash; an American risk analyst, an Indian economics professor, a Belarussian negotiation expert, and a Slovenian international economics expert. 
 
We had all considered the vibrant international capital of London home... but there&#39;s doubt seeping in now. Our beloved city has grown an ugly underbelly. The Slovenian economics expert put it best.&nbsp; 
 
His 26-year-old son, raised in Britain since he was a year old, called him after the vote. &ldquo;They don&rsquo;t like us. They don&rsquo;t want us,&rdquo; he said.&nbsp; 
 
We are &ldquo;the other&rdquo;. 
 
The American is considering returning to New York or perhaps Frankfurt; he has German roots and can get a passport. The Indian says she might take European job offers more seriously, and the Belarussian believes England is an uglier place now and wonders if it is the right place to raise her son. 
 
It has gotten ugly &ndash; fast. There has been a 57% rise in racist abuse after the Brexit vote, according to the National Police Chiefs&rsquo; Council. &nbsp; 
 
There&#39;s been racist graffiti scrawled on a Polish community centre in London. Letters stuffed through the doors of Polish families calling them &ldquo;Polish vermin&rdquo;, Muslims threatened with violence, an African American man verbally abused by teenagers in Manchester, a woman of South Asian descent born in Britain told to &ldquo;go home&rdquo; -- she swiftly retorted, &ldquo;I AM HOME&rdquo; -- and children of foreign parents taunted at schools.&nbsp; 
 
It all makes me sick. 
 
Then I wonder if this &ldquo;sudden&rdquo; surge of hatred for immigrants &ndash; &ldquo;the other&rdquo; &ndash; has always been there. Bubbling under the surface. Do the postman, the bartender, and the saleswoman all quietly judge me as soon as I open my mouth? Are they also wishing I would just go home? 
 
If this is the real Britain, well, I don&rsquo;t love you either and in this break-up, it&rsquo;s not me &ndash; it&rsquo;s you.

UK has seen a 57 per cent rise in racist abuse since it decided to exit the EU and Clark, a Canadian, suddenly finds herself as 'the other'

It’s been only a week since the UK took the decision to Brexit but that one vote has altered the Britain I thought I knew. Born and raised in Canada, I have spent most of my professional life in the UK. It was my adopted home. I loved it and, in turn, I hoped it loved me. It doesn’t. The vote to leave was largely an anti-immigrant vote and the Leave campaign seems to have given legitimacy to the ugliest facets of society – xenophobia and racism. I have spent the week interviewing experts on what the vote means for Britain. It turns out some of the brightest minds are foreign-born – an American risk analyst, an Indian economics professor, a Belarussian negotiation expert, and a Slovenian international economics expert. We had all considered the vibrant international capital of London home... but there's doubt seeping in now. Our beloved city has grown an ugly underbelly. The Slovenian economics expert put it best. His 26-year-old son, raised in Britain since he was a year old, called him after the vote. “They don’t like us. They don’t want us,” he said. We are “the other”. The American is considering returning to New York or perhaps Frankfurt; he has German roots and can get a passport. The Indian says she might take European job offers more seriously, and the Belarussian believes England is an uglier place now and wonders if it is the right place to raise her son. It has gotten ugly – fast. There has been a 57% rise in racist abuse after the Brexit vote, according to the National Police Chiefs’ Council. There's been racist graffiti scrawled on a Polish community centre in London. Letters stuffed through the doors of Polish families calling them “Polish vermin”, Muslims threatened with violence, an African American man verbally abused by teenagers in Manchester, a woman of South Asian descent born in Britain told to “go home” -- she swiftly retorted, “I AM HOME” -- and children of foreign parents taunted at schools. It all makes me sick. Then I wonder if this “sudden” surge of hatred for immigrants – “the other” – has always been there. Bubbling under the surface. Do the postman, the bartender, and the saleswoman all quietly judge me as soon as I open my mouth? Are they also wishing I would just go home? If this is the real Britain, well, I don’t love you either and in this break-up, it’s not me – it’s you.

If this is the real Britain, then I don't love you

THIS IMAGE NEEDS TO BE CHANGED. 
 
Sumner Redstone&#39;s National Amusements Inc is consulting investment bankers about strategic options for Viacom Inc&#39;s Paramount Pictures, including a possible stake sale, sources&nbsp;said.

National Amusements, which controls 80 per cent of the voting shares of Viacom, is also keen to extract more value from the film studio&#39;s real estate holdings in Los Angeles.

It is unclear what other scenarios National Amusements is considering. The fact that it is entertaining options for Paramount is significant because it could mean that a deal for the movie studio could happen even without Viacom chief executive Philippe Dauman leading the process.

Redstone&nbsp;is considering removing Dauman and members of the board. Representatives for National Amusement and Viacom declined to comment.

The sale of&nbsp;interest in Paramount has been an issue of contention in the battle for control of 93-year-old Redstone&#39;s $40 billion media empire, which includes Viacom and CBS Corporation.

Redstone said in a statement last month he believes keeping 100 per cent of the film unit is in the best interest of Viacom but could be swayed by a plan that convinces him otherwise.

National Amusements said&nbsp;it &quot;is not opposed to a transaction that would unlock value at Paramount&quot;. But it amended Viacom&#39;s bylaws to create hurdles for Dauman to sell a stake in the studio unless he obtained the approval of the entire board of the media company. 
 
Dauman is&nbsp;pushing ahead with plans to sell a 49 per cent stake in Paramount, and he is&nbsp;also looking to unlock the value of the film studio&#39;s real estate holdings, he said at an investor meeting.

Last month, Redstone removed Dauman and Viacom board member George Abrams from the seven-person trust that will determine the fate of Viacom and CBS after Redstone dies or is incapacitated. Part of the reason that he made the move was over concerns about the Paramount sale, a representative for Redstone has said.

Dauman and Abrams have filed a lawsuit opposing Redstone&#39;s removal of them from the trust and the National Amusement Inc&#39;s&nbsp;board. A Massachusetts judge is deciding whether to move up that trial from October.

National Amusements, which controls 80 per cent of the voting shares of Viacom, is interested in the film studio's real estate holdings

THIS IMAGE NEEDS TO BE CHANGED. Sumner Redstone's National Amusements Inc is consulting investment bankers about strategic options for Viacom Inc's Paramount Pictures, including a possible stake sale, sources said. National Amusements, which controls 80 per cent of the voting shares of Viacom, is also keen to extract more value from the film studio's real estate holdings in Los Angeles. It is unclear what other scenarios National Amusements is considering. The fact that it is entertaining options for Paramount is significant because it could mean that a deal for the movie studio could happen even without Viacom chief executive Philippe Dauman leading the process. Redstone is considering removing Dauman and members of the board. Representatives for National Amusement and Viacom declined to comment. The sale of interest in Paramount has been an issue of contention in the battle for control of 93-year-old Redstone's $40 billion media empire, which includes Viacom and CBS Corporation. Redstone said in a statement last month he believes keeping 100 per cent of the film unit is in the best interest of Viacom but could be swayed by a plan that convinces him otherwise. National Amusements said it "is not opposed to a transaction that would unlock value at Paramount". But it amended Viacom's bylaws to create hurdles for Dauman to sell a stake in the studio unless he obtained the approval of the entire board of the media company. Dauman is pushing ahead with plans to sell a 49 per cent stake in Paramount, and he is also looking to unlock the value of the film studio's real estate holdings, he said at an investor meeting. Last month, Redstone removed Dauman and Viacom board member George Abrams from the seven-person trust that will determine the fate of Viacom and CBS after Redstone dies or is incapacitated. Part of the reason that he made the move was over concerns about the Paramount sale, a representative for Redstone has said. Dauman and Abrams have filed a lawsuit opposing Redstone's removal of them from the trust and the National Amusement Inc's board. A Massachusetts judge is deciding whether to move up that trial from October.

National Amusements in talks to buy Paramount Pictures

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