AI Misinformation Is Worse Than You Think

Simplifying emerging technology trends with Shira Lazar. Learn what matters in web3 and AI in under 3 minutes per week.

Author

Shira Lazar
December 17, 2023

This Week in Web3...

A recap of This Week in Web3

Hackers Steal Millions in NFTs in NFT Trader Exploit

A significant security breach occurred on the NFT Trader platform, leading to the theft of high-value NFTs, including Bored Ape and Mutant Ape Yacht Club tokens, among others. The company acknowledged the breach, attributing it to vulnerabilities in old smart contracts, and advised users to revoke permissions.

The primary hacker, who claimed responsibility and demanded a ransom, has made erratic moves, including returning some NFTs while keeping others, such as the ApeCoin rewards. Additionally, secondary attacks resulted in the loss of other NFTs like Cool Cats and Squiggles. NFT Trader has yet to respond officially to these incidents.

The Solana Saga phone, previously struggling with sales, has experienced a dramatic surge in popularity due to a 30 million BONK token airdrop, with each token currently valued at nearly $700. This airdrop, accessible to Saga phone owners who download the BONK app from the phone's specialized app store, has led to a more than tenfold increase in sales in just 48 hours.

December has seen significant developments in the intersection of streetwear and Web3, setting trends for 2024. Jing Daily put together a great little recap of some of the most recent web3 activations in streetwear.

Reebok has announced a collaboration with Futureverse for an AI-powered metaverse initiative aiming to enhance consumer interaction with their products in the digital realm. This move follows similar Web3 ventures by competitors like Nike and Adidas. Sol3mates, a digital-first sneaker brand, is expanding into physical streetwear with a new sub-brand, Sirocco, launching a collection in collaboration with designer Kacimi Latamène. This collection, featuring NFC-tagged sneakers, T-shirts, and hoodies, marks a significant step for the Chalhoub Group in diversifying its offerings.

Additionally, Casio has entered the Web3 space with a digital collectibles series based on its iconic G-Shock watches, blending the worlds of timepieces, streetwear, and digital assets. These initiatives reflect a growing trend of traditional brands exploring and integrating into the Web3 ecosystem to create new consumer experiences.

Quick Headlines

AI Corner

The proliferation of AI-generated fake news is rapidly increasing, posing significant challenges in differentiating between real and false information. According to NewsGuard, websites hosting AI-created false articles have surged by over 1,000 percent, from 49 to more than 600, spreading misinformation about various topics, including elections and global events. This trend is particularly concerning in the run-up to the 2024 elections, with fake news being produced at an alarming rate.

These sites often mix real and AI-generated news, making it difficult for readers to discern truth from fiction. Experts emphasize the need for increased media literacy among the public and acknowledge the challenges in regulating these sites without infringing on free speech, likening the situation to an unending game of "whack-a-mole."

This Week We’re Bullish On

All Seeing Seneca, renowned for her "cosmic horror and candyland" art, gained fame as the lead designer of the Bored Ape Yacht Club (BAYC), a pivotal NFT project. Celebrated by Rolling Stone and featured in Sotheby’s and Christie’s auctions, her work has driven significant community engagement and sales. A Rhode Island School of Design graduate, Seneca has exhibited in galleries like New York's The Armory and Phillips auction house. Recognized as one of Coindesk’s “Most Influential Figures of 2021,” her art is marked by surrealism and a love for the macabre, distinguished by its muted, captivating palettes.

Her latest work, “Perils of Sēsē,” an exclusive collection limited to just 2,880 unique pieces, showcases an inventive blend of generative and hand-drawn art by Seneca, offering an enthralling dive into her surreal and captivating artistic universe. Upon release, the collection quickly sold out, receiving widespread acclaim and considerable praise throughout the web3 community for its innovative approach and engaging aesthetics.

Positive Affirmation for This Week

“Ignore the glass ceiling and do your work. If you’re focusing on the glass ceiling, focusing on what you don’t have, focusing on the limitations, then you will be limited.” - Ava DuVernay

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