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📣 Deloitte: Metaverse Could Add $1.4 Trillion a Year to Asia's GDP
Deloitte estimates the metaverse could add $1.4 trillion to Asia’s GDP annually by 2035. Noting that the metaverse market could be as large as $13 trillion by 2030, the global financial services firm said: “The metaverse is no longer science fiction. Early metaverse platforms are already being used by millions.”. Deloitte, titled “The Metaverse in Asia: Strategies for Accelerating Economic Impact,” estimates that the metaverse is a trillion-dollar opportunity in Asia. The study takes an in-depth look at 12 selected Asian economies: Hong Kong, India, Indonesia, Japan, mainland China, Pakistan, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam.
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⚡️ 'Vincent Van Dough' launches new NFT gallery: Exclusive
A prolific NFT collector who goes by the pseudonym "Vincent Van Dough (VVD)" has launched a new NFT gallery called Art of This Millennium. VVD's new project comes shortly after they had to bid adieu to their NFT fund Starry Night Capital, which had been launched last year. VVD was once friends with Zhu and Davies, having known them outside of crypto for over ten years. When asked if they are still in touch with the 3AC founders, VVD said they last had contact with them before 3AC's collapse was reported in June. VVD added that Zhu and Davies are "not at all" involved with AOTM. Starry Night Capital had aimed to raise $100 million and collected hundreds of NFTs.
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🔫 Jupiter Meta rebrands itself as a Metaverse and Web3 Advisory
Jupiter Meta, announced their rebranding to a Metaverse and Web3.0 advisory. The Metaverse-as-a-service (MaaS) startup is actively helping businesses transition into the digital reality segment by building a Web3.0 economy. Jupiter Meta’s solution is engineered to infuse gamification and tokenomics into extended reality architecture rather than a pure-play offering. Additionally, they bring all elements of Web3.0 and metaverse into a single framework that helps businesses streamline their strategy and monetize efficiently. Jupiter Meta has also created token-based solutions.
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🖼 Saudi shock sinks Argentinian fan token, The Saudi's NFT collection soars 2,000% in volume
Argentina's shock loss to Saudi Arabia today was heard around the world and even spilled over into crypto. The Argentina fan token offered through partnerships with Socios crashed 23% over the past day. The token was changing hands for around $7.20 before kick-off in Argentina's first fixture of the FIFA World Cup. Argentina is only one of two international teams — along with Portugal — to offer fan tokens. Portugal's token is down 0.7% today, with Cristiano Ronaldo's team set to play Ghana on Thursday in their opening fixture. Last week, the Chiliz blockchain appeared to benefit from the impending FIFA World Cup. The native coin of Chiliz, the home of socios and sports fan tokens, rose last week ahead of the World Cup.
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🖼 Grand Theft Auto maker Rockstar Games bans NFTs on third-party servers
Grand Theft Auto has followed Minecraft in banning NFTs from its third-party online servers. Developers cannot integrate cryptocurrencies or crypto assets such as NFTs, creator Rockstar Games confirmed in a statement last week. The company stressed that it still supports these servers despite the new restrictions. Rockstar Games has always believed in reasonable fan creativity and wants creators to showcase their passion for our games. Third party 'Roleplay' servers are an extension of the rich array of community-created experiences within Grand Theft Auto that we hope will continue to thrive in a safe and friendly way for many years to come," the company said. The company stressed that it still supports these servers despite the new restrictions.
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🖼 DeFi, NFT Remains Resilient Despite FTX Implosion: DappRadar
The fallout from FTX’s collapse has been devastating, and the market is poised for more losses. But according to a recent report by DappRadar, Web3 remains resilient. decentralized finance (DeFi) sector, too, has been impacted. But the user activity in the sector appears to be returning to levels from the previous month. According to a recent Dapp Radar report shared with CryptoPotato, the total value locked (TVL) across DeFi platforms has plunged over 20%, from $83 billion to $65 billion, since the beginning of the month. The TVL of the market leader – Ethereum – fell from $51 billion on November 1 to $41 billion on November 13, noting a 14% decrease. However, stETH lost its peg to ETH and is currently trading at 0.9883.
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👟 Nike Launches New Digital Community and Experience in Metaverse
Nike is launching a new web3 digital community called .SWOOSH. The new metaverse experience uses blockchain-powered technology to offer a place for athletes, creators, collectors, and consumers to design their own Nike virtual creations. To ensure it is a safe, trusted space, .SWOOSH has its own domain: welcome.swoosh.nike where Nike Members will be able to learn about and collect interactive digital objects, such as virtual shoes or jerseys, that community members will be able to wear in digital games and experiences. Some community members will be able to unlock access to physical products or events like one-on-one encounters with athletes or designers.
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⚽️ NFL All Day NFT Sales Surge on Sundays During Football Games
Dapper Labs’ officially-licensed NFL All Day NFT collectibles platform opened up to the public last month, and in the first couple weeks of the NFL regular season, an interesting trend is showing in the sales data: users are buying a lot more of the Flow-based NFTs on Sundays, the day of the week. On both September 12 and September 19, NFL All Day has appeared at the top of the overall 24-hour NFT market charts at CryptoSlam, beating the Bored Ape Yacht Club and other pricey “blue chip” projects. Whereas the average sale price of Bored Ape in September thus far has been about $110,000 worth of ETH, the average NFL All Day sale price is just $31.
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🖼 EverRise Adds NFT Staking Lab with Cross-Chain Bridging Capabilities
EverRise has developed a cross-chain Non-Fungible Token (NFT) staking lab that lets RISE holders create on-chain staking contracts that are bridgeable to five blockchains. NFTs are directly available in compatible Decentralized Finance (DeFi) wallets and can be traded on platforms like OpenSea. The new staking lab is a major Degen play that lets users search out the top gains across different chains. Be aware that stakes are only allowed in monthlong increments, so it does not give ultimate flexibility. There is currently over 61% of RISE tokens staked across all blockchains, with BNB Chain registering the highest percentage at nearly 40% of tokens staked. Users are incentivized through an automated buyback protocol where staked RISE provides proportional rewards to stakers.
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🔫 Big Four Company KPMG to Examine New Business Models in the Metaverse
KPMG, one of the “big four” companies in the consulting and auditing business, is appointing a new head of metaverse futures. The new position, to be occupied by Alyse Sue, will be dedicated to the implementation of technologies such as metaverse and crypto to find fresh business models for the company. The metaverse is gaining the attention of many large institutions, currently researching the future of this tech to offer services based upon it. KPMG, one of the biggest companies in the auditing business, has appointed a new head of metaverse futures, with the aim of debuting new business models based on cryptocurrency and metaverse tech.
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🔫 Metaverse gives surreal feel to upcoming World Cup
With the kickoff of the 2022 FIFA World Cup in Qatar just around the corner, Chinese soccer fans are eager to embrace the mega event, which is set to take on a metaverselike look for many sporting enthusiasts watching from afar. metaverse loosely refers to a shared virtual environment or digital space. Virtual reality-enabled game watching experiences, humanlike virtual soccer commentators and soccer-themed digital collections will all provide World Cup fans in China a virtual front-row seat not only to stunning competitions but also first-hand knowledge of how the metaverse is starting to reshape the multibillion-dollar global sports industry.
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📣 Apparel Group’s 6thStreet.com has entered the metaverse
Fashion and e-commerce retailer 6thStreet.com is one of the first in the GCC to enter the metaverse in a unique space that blends fashion and Web3.0 called ‘Space6’. The virtual venture aligns with its 'Super Friday campaign', where visitors can enjoy an immersive entertaining shopping experience. Space6 was built using Spatial.io and can be accessed by anyone anywhere via a web link, or by downloading the Spatial.io app for the best experience. The dynamic destination will give customers a never-before retail experience that combines online shopping with a futuristic virtual world.Combining the best of fashion and Web3.0, Space6 curates and presents the latest in fashion and collectibles from over 1,200+ international brands.
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🔫 Metaverse ‘explosion’ will be driven by B2B, not retail consumers: KPMG partner
The Australian arm of Big Four accounting firm KPMG could soon be holding executive meetings and closing multi-million dollar deals with clients in the metaverse, with the firm now exploring how the revolutionary technology can transform its business model. called head of metaverse futures, which has just appointed Web3 executive Alyse Sue to the position. KPMG Australia noted that Sue previously worked as a senior consultant on the KPMG Innovate team between 2012-2015 before venturing off into the cryptocurrency space — where she co-founded several startups, including Transhuman Coin, a decentralized finance (DeFi) project which invests in and supports emerging technologies. The company has just created a brand new role within Australia’s KPMG Futures team.
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🖼 Coachella NFTs Sold for $1.5M—Now They’re Stuck on FTX
FTX customers around the world have assets frozen on the cryptocurrency exchange after its sudden collapse last week, apparently to the tune of billions of dollars’ worth in total. And it’s not just cryptocurrency or DeFi tokens either—some users have NFTs stuck in FTX, too. Discord servers tied to projects that launched via the FTX NFTs platform over the last year are now filling up with complaints from users who cannot withdraw their Solana-based assets from the FTX account wallet. Links to many of the projects launched through the FTX NFTs marketplace are likewise now broken. FTX announced on Friday that it had filed for Chapter 11 bankruptcy protection.
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🖼 Art of the real: the intriguing post-bubble future of NFTs
Unfortunately, that initial run would prove short-lived. After reaching a monthly peak of USD 17 billion in January of this year, NFT trading volumes have fallen off a cliff, and are now down some 97 percent according to Bloomberg[2]. The First 5,000 Days” for USD 69.3 million in March 2021[1], it catalyzed a spectacular and highly visible bull run for NFT art and collectibles. The term NFT, which dates to the Ethereum ERC-721 “non-fungible token” standard released in 2018[3], simply refers to a unique token that lives on a blockchain. Like their “fungible” cryptocurrency counterparts, NFTs cannot be copied or counterfeited. Unlike cryptocurrencies, they cannot be substituted for each other either. While one Bitcoin is, the same as another, each NFT is unique and uniquely identifiable. That is the point. NFTs are a key technology for creating digital assets.
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🇨🇳 Chinese metaverse developer Global Mofy files for proposed $30M US IPO
Chinese metaverse services provider Global Mofy Metaverse (GMM) has filed to raise a proposed $30M through a US initial public offering. The company hopes to list its shares on Nasdaq under the symbol GMM. Maxim Group is serving as lead bookrunner. Global Mofy said in a filing that it's looking to offer 6M ordinary shares priced $4.50 to $5.50, which would raise around $30M if priced at the midpoint. Underwriters would be granted a 45-day option to buy up to 15% additional shares to cover any over-allotments. Global Mofy has been profitable. For the six-month period ended March 31.
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💰 Shiba Inu developer says WEF wants to work with project to ‘help shape’ metaverse global policy
The volunteer project lead and developer for Shiba Inu known only as Shytoshi Kusama has reported on social media that the World Economic Forum, or WEF, wants to work with the meme-based cryptocurrency on global policy. Kusama said the WEF had “kindly invited” the Shiba Inu project to collaborate on “MV global policy.” The Shiba Inu developer seemed to be referring to policy on the metaverse. Crypto and blockchain have sometimes been under discussion at WEF events, but partnering with a popular meme token would seemingly be a first for the organization.
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📣 KPMG Australia appoints first-ever head of metaverse future
KPMG has appointed software engineer and tech entrepreneur Alyse Sue as its new head of metaverse future, with the goal of creating a multimillion-dollar business based on metaverse technology and cryptocurrency over the next two years. KPMG after working as a senior consultant on the KPMG Innovate team between 2012 and 2015 before focusing on her own startup projects. Sue co-founded Transhumanism Australia and cryptocurrency Transhuman Coin, which are both dedicated to funding research and development of technologies that enhance human biology, and Genomix, a data machine-learning startup.
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💰 Magic Eden expands NFT support to Polygon network
Magic Eden has added support for trading of non-fungible tokens on the Polygon network, a move that will boost its ability to work with gaming projects on the network. Rather than acting merely as a venue for NFT trading, the firm wants to expand and capitalize. Magic Eden is the largest NFT marketplace on Solana by trading volume. Earlier this year, the project went multi-chain, first releasing its marketplace on the Ethereum blockchain in August. Polygon is now the third blockchain that Magic Eden has integrated after Solana and Ethereum. Polygon, a proof-of-stake sidechain running parallel to Ethereum, allows for cheaper transactions for Ethereum-based applications.
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🔫 World’s First eCommerce Metaverse Fashion Mall, Avatly, Launches Using Cutting-Edge Technology
Avatly, an eCommerce metaverse fashion mall built using state-of-the-art technology, has been launched with the aim to provide an unparalleled experience of trying on virtual clothing in the metaverse. Avatly believes that the Metaverse and VR technologies are essential for making this vision a reality. Using Unreal Engine 5 and Binance Smart Chain technology, Avatly will provide the best real-time 3D experience and avatar solutions, taking the shopping experience into a completely new dimension. Avatly will also integrate Metaverse 3D boutiques with e-commerce, dedicated to premium fashion brands and designers. Avatly is also designed to have entertainment spaces.
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🪙 Merlion’s Virtual Vacation at M Social Decentraland Marks STB’s Foray Into the Metaverse
Singapore Tourism Board (STB) and homegrown hospitality group Millennium Hotels and Resorts (MHR) have jointly launched Merlion on Vacation, a virtual adventure that enables players to explore Singapore in the metaverse, win prizes and enjoy a Merlion. Decentraland – a virtual hotel with glass exteriors and neon pink accents – players can engage in mini-games featuring Singapore landmarks such as Orchard Road, Sungei Buloh, Gardens by the Bay, and Maxwell Food Centre. Those who complete the games will enter a raffle for the grand prize of a one-night-stay at M Social Singapore.
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🖼 The Machine Learning Powering Generative Art NFTs
Artificial intelligence (AI) in the non-fungible token (NFT) space is becoming increasingly relevant. Generative art (that is, art that has been created by an autonomous system) has quickly emerged into one of the main categories of the NFT market. Generative art has been one of the quintessential machine-learning use cases, but only recently has the space achieved mainstream prominence. The leap has been mostly powered by computational gains and a new generation of techniques that can help models learn without requiring a lot of labeled datasets, which are incredibly limited and expensive to build.
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📣 NFT Startups Are Not So Alluring To Investors Lately
The NFT, or non-fungible token, is admittedly one of those hot venture sectors I never really got. But I don’t write the checks or do the diligence. So, when well-known VCs started financing big NFT-related rounds last year and early this year, it seemed like a space to watch. The NFT space is no longer nearly as hot as it was earlier this year. Fewer deals are getting done, and much less money is going into them.The fourth quarter of 2021, a record-setting period for global venture funding across all industries, was also a hot time for NFTs. Startups in the space raised over $1.5 billion, with $725 million of that going to Forte, a blockchain gaming platform.
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🔫 The trillion-dollar opportunity in building the metaverse
The internet as we know it consists of a limited number of centralized platforms that control the majority of traffic and user data. These platforms are designed around maximizing advertising revenue, which puts them in constant conflict with users, who are seen as commodities to be sold. The metaverse has the potential to become a trillion dollar industry because it solves the scarcity problem in a way that no other technology has before. In this article, we will take a close look at the immense economic opportunity that exists in building the metaverse. as a singular solution to the problem of scarce online space. However, while this is a great start, it is only a fraction of what is possible.
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📣 Renault moves into the industrial metaverse
Renault Group is the latest carmaker to announce significant digitalisation plans, confirming a move into the industrial metaverse. The technology will combine augmented and virtual realities across many platforms, enabling different digital interactions. The industrial metaverse could offer several benefits, including a fresh marketing opportunity in front of a new audience. According to Renault, the system will be based on four dimensions spanning mass data collection, digital twins, supply chains, and advanced technologies. Renault states the integration of the metaverse can offer a ‘better visibility of the work environment allowing actors to gain agility and autonomy in decision making.’. Data will be collected from all of Renault’s industrial sites, through a mass information-capturing solution.
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🖼 NFT prices slump as FTX's collapse shadows digital collectibles
The value of non-fungible tokens, or NFTs, is plummeting amid renewed questions about what cryptocurrencies are worth. FTX Trading declared bankruptcy amid a $8 billion shortfall. The fallout is now affecting the digital collectibles realm, said NFT expert Connor Borrego. FTX's bankruptcy has pushed down the price of some cryptocurrencies, shrinking the buying power NFT collectors enjoyed in the past, Borrego said. Most collectors buy NFTs using cryptocurrency, although many marketplaces also accept traditional payment options like credit cards. a collection of NFTs by celebrated artist Damien Hirst, fell 12.6% to $4,666.60 on Friday.
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📣 H&M Partners With IDF to Launch The Metaverse Design Story Collection
Global clothing retailer H&M will present “The Metaverse Design Story collection,” the latest edition of its innovative story collection online and offline. The collection will be available at Melbourne’s GPO mall from December 8, while the online version will be available in the virtual space by December 1. The Metaverse Design Story collection is designed in partnership with the Institute of Digital Fashion (IDF). With the augmented reality (AR) fashion lenses provided by Snapchat, the digital collection highlighted through five augmented reality filters, is accessible via the H&M app and viewable via AR fashion lenses. the partnership with H&M’s garment collection program.
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📣 The CronosVerse Gearing Up to Host First Metaverse Party
The CronosVerse is hosting the first metaverse party and concert on Cronos Chain on Nov. 19. Download, gear up and get ready to celebrate.In the run-up to the event, The CronosVerse tweeted a video showing different areas of the metaverse, premium skins, and more. Premium skins include variations of robots, humans, and animals. Take a look at the video below. The live event can be accessed via Twitter or by downloading The CronosVerse application for Windows. The party will include live game support, musical performances, mini-games, a PvP competition, and giveaways. The project offers users the opportunity to participate as either landowners or as everyday civilians of the CronosVerse, known as the “Crovilians.” Each Crovilian will have their own unique set of traits, identifying their unique role within the CronosVerse society the team has stated. Their goal is to create the ultimate social MMO gaming.
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🤟 Justin Bieber Paid $1.3 Million for a Bored Ape NFT. It’s Now Worth $69K
Bored Ape Yacht Club hype was in full swing earlier this year as celebrities “aped into” the pricey Ethereum NFT collection. Some have even used their Apes to create products, themed restaurants, live performances, and more. As of this writing, the floor price for the Bored Ape Yacht Club—that is, the price of the cheapest-available NFT. CryptoPunks, another “blue chip” NFT project owned by Yuga Labs, has seen its floor price drop by 23% this month to about $79,800 (66.5 ETH) in November. Its price in ETH today is nearly identical to what it was on November 1; what’s changed is the USD value of ETH. The Bored Ape floor, on the other hand, has dropped from 66.6 ETH to 58.2 ETH, and fell as low as 48 ETH on Tuesday morning. he entry price for a Bored Ape today is about 84% less.
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📣 Demand for metaverse and NFT soars with rising trademark applications
A new report has shown that there has been double the amount of trademark applications for NFTs and metaverse-related items in 2022 compared to the previous year. Similarly, there have been over 4,600 requests for metaverse trademarks in 2022 so far compared to just 1,798 in 2021. An increase of over 156%. The report from BitStacker.com illustrates that there were 6,290 trademark requests for NFTs sent to the USPTO between January and September 2022. This contrasts to just 2,179 trademark applications in 2021 which is an increase of 188.66%. NFTs first broke through into the mainstream in 2020 when there were just 18 trademark applications for the non-fungible tokens. The metaverse refers to the yet-to-be-developed digital world.
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