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Benefit Sets a New Standard for Gaming-Inspired Commerce with Virtual Benemart Holiday Gift Store

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Benefit Sets a New Standard for Gaming-Inspired Commerce with Virtual Benemart Holiday Gift Store


Glam and games on aisle 1, The Benemart is open for business. Benefit Cosmetics launched their first virtual 3D shopping experience in partnership with immersive experience company Obsess, setting a new standard for gaming-inspired commerce. Step into The Benemart (virtually!) where Benefit’s grocery-inspired concept offers an interactive digital space for visitors to shop bestsellers and holiday favorites all from home. Designed to be social, Benefit made online holiday shopping easy and entertaining, cementing the beauty brand as a leader in connecting with the next generation of gaming-native shoppers.

“The Benemart is our very first 3D virtual shopping experience, and we are thrilled to welcome visitors inside to experience beauty like never before. This immersive shopping adventure blends our unique brand storytelling with the unforgettable, grocery-inspired world that only Benefit can offer. Making people feel good and having fun is part of our DNA, so leading with entertainment to bring our holiday collection to life was a no-brainer,” said Toto Haba, SVP Global Omnichannel Marketing at Benefit Cosmetics. “Obsess has been a strong partner in creating a branded world that blends storytelling with play-driven discovery in a way that elicits the same kind of thrill as the in-store shopping experience. The virtual experience mimics a video game, which we know is something that will resonate with young digital shoppers.”

The virtual holiday pop-up features uniquely Benefit décor and the brand’s iconic gift sets filled with bestselling fan-favorites priced at holiday-special deals. Open for beauty in four countries including the United States, United Kingdom, Germany and France, the immersive VR space offers shoppers the chance to grab a virtual cart, browse the aisles and add Benefit’s ultra-collectible sets to their digital cart for purchase. The featured collection takes inspiration from everyday grocery store items, such as chocolate bars, snack bags and tinned fish, all with a fun, imaginative twist. Benefit is also pairing the virtual pop-up shop with an IRL experience throughout the United Kingdom for those that want to stroll the aisles in real life.

Don’t know which Benemart gift sets you need? The virtual experience helps shoppers find personalized product recommendations through Benefit’s Holiday Gift Guide, which features a quiz to match users with the perfect products based on their answers. Shoppers will also have the opportunity to virtually try-on the #1 Brow Brand Worldwide’s bestselling brow products and add them to their cart directly from the virtual experience. Throughout the holiday season, shoppers can also play branded mini games for rewards and discounted sets. 

Gaming is the New Social: Branded Online Games for Commerce

The Benemart is stocked full of interactive gamification and social shopping elements. Users can join in on scavenger hunts to collect virtual “grocery baskets” hidden throughout the experience, play a lottery-inspired scratch-off game and explore the store as customizable avatars. This experience sets a new standard for gaming-inspired commerce, introducing play-centric elements throughout the customer’s shopping journey.

Emphasizing social shopping, users could interact with other avatars in real time—gather friends for a virtual shopping day with the ‘shop with friends’ feature allowing groups to voice chat, play games and shop together as avatars in real time. Within the online virtual reality experience, each shopper is able to customize their personal avatars with a variety of outfits and makeup looks inspired by Benefit’s best selling products across brows, pores, lashes, cheeks and more. 

With the launch of their Virtual Benemart Holiday Gift Store, Benefit Cosmetics set a new standard for gaming-inspired commerce. Through play-driven discovery in an immersive, gamified and social virtual experience, the beauty brand cements themselves as a leader in connecting the next generation of shoppers. 

To learn more about how to create your own virtual brand world, email us at contact@obsessvr.com or book a demo. 



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David Walliams makes shock jibe about Ben Shephard’s appearance on This Morning

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    David Walliams makes shock jibe about Ben Shephard’s appearance on This Morning


    On today’s episode of This Morning, comedian David Walliams didn’t shy away from making a comment about presenter Ben Shephard‘s weight.

    During a segment involving smore brownies, David cheekily told Ben to cut back on his portion.

    David Walliams joked about Ben Shephard’s appearance as they ate brownies on This Morning (Credit: ITV)

    David Walliams on This Morning

    The comment occurred during a cooking segment. The segment was headlined by Juliet Sear, who is known for her smore brownies.

    Former Britain’s Got Talent judge David joined hosts Ben and Cat Deeley to sample the sweet treats. Juliet placed the tray of brownies in front of the hosts, as they got ready to tuck in.

    “Dig in, dig in!” She urged. “Let me know what you think.”

    “Not too much Ben because you’ve ballooned…” David teased, as the trio prepared to indulge in the chocolatey dessert.

    “I know, I have,” Ben shot back. “Well, you’re in my outfit and then I couldn’t wear that outfit like you were.”

    “These are wonderful. Really good,” David told Juliet.

    However, this comment was not the only moment that drew the viewers’ attention.

    A more dramatic scene unfolded when Ben and Cat attempted a viral dance move from Dancing With The Stars.

    The move involved lifting Cat by the ankle. However, it did not go as planned – leading to a few tense moments before they both fell to the floor in laughter.

    David Walliams on This Morning

    Baker Juliet Sear brought in her smore brownies (Credit: ITV)

    Ben Shephard and Cat Deeley

    This week, Ben and Cat returned to the daytime show after their October half-term break.

    Sharing details on his break, Ben said on Instagram: “A lovely half term week off. Great chance to catch up with some friends and create some memories.

    “Very special celebrations for my best man Sam’s 50th birthday at Twickenham!

    “Thanks to @thegreenroomexperience sadly England didn’t quite get over the line but it wasn’t for want of singing and drinking on our part!”

    Read more: Ben Shephard on getting ‘naked’ with ’16 girls’ as part of degree at university: ‘It was a great three years’

    David Walliams Reveals The Inspiration Behind His Children’s Books | This Morning

    What do you think? You can leave us a comment on our Facebook page @EntertainmentDailyFix and let us know.



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    After laying out the dream Helldivers 2 crossovers he thinks about in the shower, CCO Pilestedt says you’ll have to “see what happens” when it comes to massive PVE battles

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    After laying out the dream Helldivers 2 crossovers he thinks about in the shower, CCO Pilestedt says you’ll have to “see what happens” when it comes to massive PVE battles


    Look, pretty much everyone loves Helldivers 2, even if things have looked a bit shaky on that front on a few occasions this year, and sometimes the best way to show that is by demanding Arrowhead fill it with crossovers. We’re not talking about official crossovers, and Arrowhead CCO Johan Pilestedt’s just run down his personal list of ones that might be cool in theory, in addition to saying a thing about the possibility of big PVE battles.

    Now, before we get into his picks, it’s important to emphasise that the developer was clear that “these are just musings”, and that he reckons attempting all of them “would dilute the IP and make it a ‘not Helldivers’ experience”. However, it’s clear Pilestedt’s done plenty of thinking about the potential for such things, having “an extended list of IPs that I really would love to do a take on” that he’s whipped out in a Tweet.

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    Without further ado, here’s his list:

    So, yup, as you’d expect, plenty of movie franchises you’ll find populating your dad’s DVD collection if he’s a blokey bloke of a certain age, and some other stuff that he also might like, especially if he’s been spelling his efforts to kill stuff for Super Earth by dipping into Space Marine 2. If they could be organised, it seems like the dev agrees with one fan’s suggestion that Warbonds which are just homages to these IPs could be a nice “middle ground” option for such things, to avoid that potential dilution he mentioned.

    In a similar ballpark of things that might possibly be added to Helldivers 2 at some point down the line, Pilestedt also answered one player’s query as to whether Arrowhead’s thought about adding “massive PVE battles” involving “something like 20-30 players” all in the same big firefight. “Yeah – it comes up pretty often at the studio,” the dev said, “But there are engine limitations. We’ll see what happens.”

    One thing that has come to Helldivers 2 is a fresh patch eariler today, so make sure to check out what it included while you’re here daydreaming about cooking a Xenomorph with your flamethrower.



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    Exploring Light.art: A Curated Publisher of Photography NFTs | NFT CULTURE | NFT News | Web3 Culture | NFTs & Crypto Art

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    Exploring Light.art: A Curated Publisher of Photography NFTs | NFT CULTURE | NFT News | Web3 Culture | NFTs & Crypto Art


    Photo Credit Tony Sellen

    Introduction At the intersection of traditional photography and modern digital art, Light.art has emerged as a distinctive curated platform focused on photography NFTs. With a commitment to showcasing art that resonates deeply with artists, collectors, and the community, Light.art’s mission is to highlight artwork that holds intrinsic beauty and value. Their approach to curating photography is rooted in timeless artistry principles, while boldly embracing the transformative potential of NFTs and web3.

    Light.art’s Curation Philosophy: More Than Just Gatekeeping Unlike traditional curators, Light.art positions its curation team not as gatekeepers but as guides within the vast and evolving landscape of digital art. By balancing subjective artistic sensibility with the fairness and transparency of web3 principles, Light.art curates pieces that embody the essential values of art: beauty, emotion, meaning, and technique. This meticulous selection process is designed to ensure that the art featured on Light.art endures in value and aesthetic significance.

    NFTs and the Democratization of Art The rise of NFTs has empowered a broader spectrum of artists to publish and monetize their work, bypassing traditional gatekeepers. Light.art views this as a revolutionary shift, democratizing access to art collection and enriching the ecosystem by welcoming diverse voices and styles. Through blockchain technology, Light.art ensures authenticity and provenance for each piece, providing peace of mind to collectors while underscoring each work’s unique value.

    Curation Process: Rigorous Standards with a Human Touch Light.art’s curation process is intentionally rigorous, prioritizing quality over quantity. Key elements include:

    Objective Criteria: Art pieces are evaluated on beauty, technique, and emotional impact.
    Transparency: Light.art maintains open communication regarding its curation standards and encourages community feedback.
    Respect and Support: Light.art’s team believes in constructive feedback, treating each artist with respect, even when their style differs from Light.art’s vision.
    Diversity: The platform values a range of voices and backgrounds, enhancing the richness of its curated collections.

    A Team of Experts Bridging Tradition and Innovation Light.art’s team and advisory board consist of seasoned veterans from photography, blockchain technology, finance, and media, each contributing valuable insights to the platform. This expertise allows Light.art to harmonize the enduring qualities of fine photography with the dynamic potential of NFTs. With contributions from @MeLlamoMatt, @DappPunk, and various renowned photographers and collectors, the team is well-positioned to drive Light.art toward sustainable, long-term success.

    Curation Board Principles: Integrity at Every Step Light.art has established clear principles to guide its rotating curation board. Core values include:

    Quality: A commitment to excellence, as defined by both artists and collectors.
    Emotion and Storytelling: Prioritizing work that evokes strong emotions and conveys compelling narratives.
    Encouragement and Respect: A feedback-rich environment that supports artists in refining their work.
    Diversity and Majority Rule with Minority Protection: Decisions are based on majority opinions while respecting strong minority perspectives.

    Notable Curators and Their Role Light.art’s curation board features a distinguished roster, including photographers like Elia Locardi, Renee Robyn, and Omar Robles, alongside prominent collectors such as NorcalGuy and DappPunk. This blend of expertise ensures a holistic view of the art and NFT space, encompassing a spectrum of tastes, insights, and experiences that enrich the platform’s offerings.

    Conclusion Light.art is redefining how photography NFTs are curated and appreciated, merging the integrity of traditional photography with the decentralized promise of web3. Through its careful selection process and community-centered principles, Light.art stands out as a platform where true art lovers can connect, collect, and celebrate art that transcends trends.

    TL;DR:Light.art is a curated photography NFT platform, focusing on timeless values in art alongside the possibilities of web3. With a rigorous, community-focused curation process, Light.art highlights art with intrinsic beauty, meaning, and emotional resonance. The platform’s dedicated team and rotating curation board prioritize transparency, quality, and respect for artists, making it a trusted space for collectors and creators alike.

     



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    Espers: A New TTRPG with Deckbuilding Mechanics Hits Kickstarter – TGN – Tabletop Gaming News

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    Espers: A New TTRPG with Deckbuilding Mechanics Hits Kickstarter – TGN – Tabletop Gaming News


    Rookie Jet Studio has launched Espers, a new tabletop roleplaying game that combines traditional RPG mechanics with a unique deckbuilding element. Set in the magical and complex world of Myriil, Espers invites players to step into the role of powerful magic users known as Espers, who are deeply connected to ancient forces. These individuals, through rigorous training, have developed abilities that allow them to control mana without the need for external devices, setting them apart in a society that relies on Wonder technology to access magical powers.

    In Espers, players navigate a world marked by ancient mysteries and conflicts. The story-driven gameplay highlights the complexities of power, choice, and consequence as players make decisions that affect not only their characters but the very balance of Myriil itself. Set against a backdrop of societal mistrust and a powerful empire that once persecuted them, Espers must navigate a world where their powers are both feared and revered.

    The game mechanics of Espers offer a blend of dice and card-based elements that bring depth to both narrative and strategic play. The customizable “Fate” deck represents a player’s available combat actions, introducing an element of unpredictability and strategy that evolves with each encounter. Players draw from their Fate deck to determine actions in combat, whether using magic, physical attacks, or special skills. With over 150 items available, players can customize their Espers to enhance their unique powers and abilities.

    In addition to its intricate combat system, Espers offers a rich lore-filled world with diverse character customization options, allowing players to shape their own journey. The game encourages collaborative storytelling, with players working together to overcome moral challenges and navigate the complexities of Myriil’s political landscape.

    Espers has already surpassed its funding goal on Kickstarter, with over 300 backers supporting the project. The campaign ends on December 1, with pledge tiers starting at various levels and fulfillment planned via DriveThruRPG. Backers will receive PDF codes for early access, with physical copies available at additional cost for print and shipping.



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    Stephen Mulhern halts Deal or No Deal and apologises as player left in tears

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      Stephen Mulhern halts Deal or No Deal and apologises as player left in tears


      In an episode that will go down in Deal Or No Deal history, host Stephen Mulhern brought the game to a temporary standstill last night (November 4).

      However, the unplanned interruption wasn’t due to a technical issue or a controversial decision, but to acknowledge an emotional reaction.

      Midwife Paisley won big on the episode (Credit: ITV)

      Deal or No Deal: Paisley wins big

      The episode saw midwife Paisley testing her luck against the banker. With aspirations of taking home a life-altering sum, Paisley’s journey was a rollercoaster of highs and lows.

      Her game began on an optimistic note, with the lower-value amounts being eliminated early on. However, the tension escalated after the coveted £100,000 prize was taken off the table.

      Despite this blow, Paisley remained undeterred. She bravely rejected the banker’s offers in pursuit of a substantial win. With just five boxes remaining, Paisley faced a tough decision.

      But upon receiving an offer of £16,750, she tearfully accepted the deal, excitedly planning to treat her parents to a cruise and getting a congratulatory cuddle from the show’s host.

      Paisley gave the tearful contestant a hug.

      Paisley gave the tearful audience member a hug (Credit: ITV)

      Stephen Mulhern declares ‘this is absolutely joyous’

      After that, Paisley played on and took out the £75k box. This meant she’d made the right decision in accepting the banker’s deal.

      It was at this point that an audience member – visibly moved by Paisley’s story – was brought to tears, prompting Deal or No Deal host Stephen Mulhern to pause the show.

      “This is absolutely joyous,” he declared.

      Stephen then turned his attention to a tearful Paisley. “Sorry, but can I just say, I’ve never seen this on anyone’s game, and I hope you don’t mind me pointing you out, but this gentleman in the back crying on your behalf. It’s amazing,” he exclaimed.

      I’ve never seen this on anyone’s game.

      The emotional exchange between an emotional Paisley and the tearful audience member culminated in a hug. However, the moment was interrupted by a call from the banker, prompting Stephen to quip: “Oh no, the banker is not going to be happy.”

      The banker jokingly remarked that Paisley was his least favourite contestant.

      Wrapping up the episode by opening the remaining boxes, Stephen congratulated Paisley on her win and her wise decision to take the deal.

      “Paisley, this gets better and better for you because you’re off on a cruise, making a dream come true for you and your family,” he said.

      Before opening her box to reveal £10, Stephen added of the banker’s final offer: “This wouldn’t even buy you a dinghy because your offer at this point would be £3,” he announced as the studio erupted into laughter and applause.

      Read more: Why Stephen Mulhern told ITV he didn’t want to know identity of Deal Or No Deal banker

      Deal or No Deal continues weekdays on ITV1 at 4pm.

      Stephen Mulhern Brings Back The Red Boxes A New Host Of ‘Deal Or No Deal’ | This Morning

      So what do you think of this story? You can leave us a comment on our Facebook page @EntertainmentDailyFix and let us know.



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      Kate Middleton Back At the Gym After Chemo, Doing Very Well: Expert

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        Kate Middleton Back At the Gym After Chemo, Doing Very Well: Expert


        Princess Kate Middleton is getting back into the swing of things after completing her course of chemotherapy.

        “From what I understand, Catherine is doing very well. She is back training at the gym and doing all the things she wanted to do,” royal expert Robert Jobson told Hello! Magazine in their latest issue. “I do think that we will start to see a lot more of her, and that she will carry out engagements as well as continuing to work behind the scenes.”

        Kate, 42, is set to attend the National Service of Remembrance ceremony in London on Sunday, November 10. The Princess of Wales has been ramping up her public duties since announcing in September that she was officially finished with chemotherapy.

        Jobson, the author of Catherine: The Princess of Wales, speculated to Hello! that Kate might limit the types of events she attends going forward. (Kate is also set to host her annual Christmas Carol Service next month.)


        Kate Middleton
        Hannah McKay – WPA Pool/Getty Images
        Princess Kate Middleton Is In a Positive Place After Finishing Chemo

        Related: Princess Kate Middleton Is ‘In a Positive Place’ After Finishing Chemo

        Princess Kate Middleton is entering a new chapter after finishing her chemotherapy treatment for an undisclosed form of cancer. “She is in a positive place,” a friend told Hello! magazine in this week’s cover story. “She is feeling well and looking to the future, focusing on the things that matter to her most.” A source […]

        “Rather than travel all over the country all the time, like she used to, I think she will concentrate on more impactful events,” he explained. “If she has her way, she will come back in stages and do things that are important to her.”

        Jobson noted that Kate “has a different perspective” following her cancer battle.

        “Her focus will be on her family, while still managing to do the key events,” Jobson continued. “I think William is very keen that she does stage a comeback, but I don’t think that necessarily signals that we’re going to get a big tranche of engagements, one after the other.”

        The author noted that it’s a “bigger statement” if Kate is seen less — which has been true in recent months.

        Kate has kept a low profile after publicly announcing in March that she had been diagnosed with cancer. Now that her chemotherapy treatments have come to an end, the Princess of Wales is gearing up for her return back to life as a public-facing royal.

        A source similarly shared in Us Weekly’s latest issue that Kate is looking to get back to work.

        “Kate loves reconnecting with the community and representing her family, but she’s also trying to find a balance between her duties and personal well-being,” the insider shared. “She appreciates the sense of purpose but wants to ensure her stress levels don’t get [too high].”

        The source noted to Us that it’s a “double-edged sword” for Kate who wants to prioritize her health but get back to work.

        “[Working] is good for her emotional well-being, but she needs to be careful not to overdo it,” the insider added. “She is determined, motivated and taking care of herself along the way.”



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        Hyperledger Web3j: HSM support for AWS KMS

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        Hyperledger Web3j: HSM support for AWS KMS


        In the world of digital security, protecting sensitive data with robust encryption is essential. AWS Key Management Service (KMS) plays a crucial role in this space. It serves as a highly secure, fully managed service for creating and controlling cryptographic keys. What many may not realize is that AWS KMS itself operates as a Hardware Security Module (HSM), offering the same level of security you’d expect from dedicated hardware solutions.

        An HSM is a physical device designed to securely generate, store, and manage encryption keys, and AWS KMS delivers this functionality in a cloud-native way. Beyond key management, AWS KMS with HSM support can also be used to sign cryptographic transactions. This provides a trusted, hardware-backed way to secure blockchain interactions, digital signatures, and more. This article will cover  how AWS KMS functions as an HSM, the benefits of using it to sign crypto transactions, and how it fits into a broader security strategy.

        In Hyperledger Web3j, support for HSM was introduced two years ago, providing users with a secure method for managing cryptographic keys. For more details, you can refer to the official documentation.

        However, despite this integration, many users have encountered challenges in adopting and implementing HSM interfaces, particularly when using the AWS KMS module. To address these difficulties, a ready-to-use implementation has been added specifically for AWS KMS HSM support. This simplifies the integration process, making it easier for users to leverage AWS KMS for secure transaction signing without the complexity of manual configurations.

        The class, HSMAwsKMSRequestProcessor, is an implementation of the HSMRequestProcessor interface, which is responsible for facilitating interaction with an HSM. This newly implemented class contains all the essential code required to communicate with AWS KMS, enabling the retrieval of data signed with the correct cryptographic signature. It simplifies the process of using AWS KMS as an HSM by handling the intricacies of signature generation and ensuring secure transaction signing without additional development overhead.

        Here is a snippet with the most important actions of the callHSM method:


        @Override
        public Sign.SignatureData callHSM(byte[] dataToSign, HSMPass pass) {

        // Create the SignRequest for AWS KMS
        var signRequest =
        SignRequest.builder()
        .keyId(keyID)
        .message(SdkBytes.fromByteArray(dataHash))
        .messageType(MessageType.DIGEST)
        .signingAlgorithm(SigningAlgorithmSpec.ECDSA_SHA_256)
        .build();

        // Sign the data using AWS KMS
        var signResult = kmsClient.sign(signRequest);
        var signatureBuffer = signResult.signature().asByteBuffer();

        // Convert the signature to byte array
        var signBytes = new byte[signatureBuffer.remaining()];
        signatureBuffer.get(signBytes);

        // Verify signature osn KMS
        var verifyRequest =
        VerifyRequest.builder()
        .keyId(keyID)
        .message(SdkBytes.fromByteArray(dataHash))
        .messageType(MessageType.DIGEST)
        .signingAlgorithm(SigningAlgorithmSpec.ECDSA_SHA_256)
        .signature(SdkBytes.fromByteArray(signBytes))
        .build();

        var verifyRequestResult = kmsClient.verify(verifyRequest);
        if (!verifyRequestResult.signatureValid()) {
        throw new RuntimeException(“KMS signature is not valid!”);
        }

        var signature = CryptoUtils.fromDerFormat(signBytes);
        return Sign.createSignatureData(signature, pass.getPublicKey(), dataHash);
        }

        NOTE!

        In order to use this properly, the type of key spec created in AWS KMS must be ECC_SECG_P256K1. This is specific to the crypto space, especially to EVM. Using any other key will result in a mismatch error when the  data signature is created.

        Example

        Here is a short example of how to call the callHSM method from the library:

        public static void main(String[] args) throws Exception {
        KmsClient client = KmsClient.create();

        // extract the KMS key
        byte[] derPublicKey = client
        .getPublicKey((var builder) -> {
        builder.keyId(kmsKeyId);
        })
        .publicKey()
        .asByteArray();
        byte[] rawPublicKey = SubjectPublicKeyInfo
        .getInstance(derPublicKey)
        .getPublicKeyData()
        .getBytes();

        BigInteger publicKey = new BigInteger(1, Arrays.copyOfRange(rawPublicKey, 1, rawPublicKey.length));

        HSMPass pass = new HSMPass(null, publicKey);

        HSMRequestProcessor signer = new HSMAwsKMSRequestProcessor(client, kmsKeyId);
        signer.callHSM(data, pass);
        }

        Conclusion

        AWS KMS, with its built-in HSM functionality, offers a powerful solution for securely managing and signing cryptographic transactions. Despite initial challenges faced by users in integrating AWS KMS with Hyperledger Web3j, the introduction of the HSMAwsKMSRequestProcessor class has made it easier to adopt and implement. This ready-to-use solution simplifies interactions with AWS KMS, allowing users to securely sign data and transactions with minimal configuration. By leveraging this tool, organizations can enhance their security posture while benefiting from the convenience of AWS’s cloud-native HSM capabilities.

         



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        OpenSea to Launch New NFT Platform Amid Market and Legal Setbacks – Cryptoflies News

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        OpenSea to Launch New NFT Platform Amid Market and Legal Setbacks – Cryptoflies News


        3

        Non-fungible token (NFT) marketplace OpenSea is set to launch a new version of its platform, as announced by CEO Devin Finzer on November 4.

        In a post on X (Twitter), Finzer wrote, “We’ve been quietly cooking at @opensea,” adding that the team had to “reimagine everything” and rebuild the platform “from the ground up.”

        While details of the new platform remain limited, OpenSea plans to make it available to users in December, with a waitlist already open. More than 233,000 wallets have already signed up so far.

        Early user feedback from those with beta access has highlighted new features like a “Leaderboard” and “Reward” section, suggesting that OpenSea is incorporating gamified elements and incentives into the platform.

        opensea new platform features

        The announcement follows a long-term strategy that Finzer has referenced since late 2023, called “OpenSea 2.0.” This initiative aims to enhance security and offer a more personalized user experience. 

        You Might Be Interested In

        To support these changes, OpenSea underwent a significant restructuring, which included a workforce reduction of up to 50%. This was the company’s second major round of layoffs; in July 2022, OpenSea had already cut about 20% of its staff, leaving it with approximately 200 employees.

        OpenSea has faced mounting challenges over the past year. Following the restructuring, investment firm Coatue Management reduced its stake in the company by nearly 90%, which significantly impacted OpenSea’s valuation. 

        In May 2024, OpenSea’s trading volume dropped to levels not seen since April 2021, reflecting a cooling interest in NFTs. Additionally, regulatory issues have increased, with the SEC sending a Wells notice to OpenSea in August, indicating its view that NFTs on the platform may qualify as securities. In September, two users filed a class-action lawsuit, claiming OpenSea sold unregistered securities.

        In response to these legal pressures, Finzer has been vocal in opposing the SEC’s stance. He committed $5 million to support affected NFT creators and, in September, collaborated with Coinbase to establish a $6 million legal defense fund. This fund, in collaboration with a16zcrypto and several law firms, offers legal assistance to creators navigating regulatory challenges in the NFT market. 



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        Mt. Gox Moves $2.2 Billion in Bitcoin Following Repayment Timeline Extension – Decrypt

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        Mt. Gox Moves .2 Billion in Bitcoin Following Repayment Timeline Extension – Decrypt



        Mt. Gox moved another $2.2 billion worth of Bitcoin on Monday amid an extended period of volatility that has seen the crypto oscillating between $73,000 and $65,000 over the past few weeks.

        The defunct crypto exchange’s recent transfer was identified through wallets tracked by blockchain analytics firm Arkham Intelligence, which disclosed the movement of 32,371 BTC, with the majority—30,371 BTC—directed to wallet address “1FG2C…Rveoy.” 

        An additional 2,000 BTC was initially moved to a Mt. Gox cold wallet before being transferred to a separate unmarked wallet, Arkham data shows.

        It comes as Bitcoin briefly slid below $68,000 during Asian market trading, recording a 1% decline over 24 hours. The asset has since clawed back losses, trading at $68,700.

        Market analysts anticipate heightened volatility this week, projecting potential price swings of up to $8,000 as U.S. election activities add to market uncertainty.

        Monday’s significant movement also follows a smaller transfer of 500 BTC to two unidentified wallets in late September, which marked the exchange’s first activity since that period. 

        These transfers historically precede distributions to creditors through established crypto exchanges, including Bitstamp and Kraken.

        Notably, the timing of this latest transfer coincides with Mt. Gox’s recent announcement that it is extending its repayment deadline by one year

        This extension affects thousands of creditors who lost assets during the exchange’s 2014 security breach, which resulted in the theft of approximately 850,000 BTC—valued at over $15 billion at current market prices.

        Mt. Gox’s historical significance in the crypto industry ecosystem adds weight to these movements as well. 

        Founded in 2010, the exchange once dominated Bitcoin trading, handling over 70% of global transactions before its collapse after a series of hacks between 2011 and 2014. 

        The security breach marked one of the industry’s most significant setbacks, leading to years of legal proceedings and recovery efforts.

        In any case, the repayment process represents one of the cryptocurrency industry’s longest-running recovery efforts, with implications extending beyond immediate market dynamics. 

        While short-term volatility is expected, the market’s maturity since Mt. Gox’s 2014 collapse may help buffer against dramatic price swings, with Bitcoin often displaying resilience against such events.

        Edited by Sebastian Sinclair

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