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🇪🇸 Only 4% of Companies in Spain Have Moved to Offer Services in the Metaverse
Only 4% of the companies in Spain have managed to apply the metaverse to their operations, according to a survey conducted by ISDI, a national business school. 40% of the business managers surveyed have admitted that it is difficult for them to bring parts of their business. While surveys and estimations by banks and companies have predicted the metaverse will become a big business in this decade, some companies are experiencing problems in bringing their vision to the virtual world. A report presented by ISDI, a Spain-based business school, has shown that moving business models to the metaverse has proven difficult for national companies. 40% of the business managers surveyed don’t know how they could harness.
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📣 Metaverse is the rebirth of the Internet, says Meta chief
Metaverse is the rebirth of the Internet, and people who are using it tend to choose avatars where they look much younger and slimmer, said Nick Clegg, President of Global Affairs, Meta. Many big players such as Apple, Microsoft, ByteDance and others have announced plans to go big in the metaverse. In fact, some of the UAE entities have also forayed into the metaverse. “For the last year, I have been holding my weekly meetings on Monday with my team around the world in the metaverse in a product called 'Workrooms'. Everybody looks suspiciously about 20 years younger and several pounds lighter, that's the avatars that people tend to choose,” he said during the World Government Summit on Tuesday.
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🚨 Magic Eden lays off 22, about 15% of staff in latest workforce cuts
Magic Eden laid off 22 people as companies across the industry cut staff amid industry-wide cuts. That amounts to about 15% of the company based upon the 141 employees listed on LinkedIn. Magic Eden is the latest crypto company to cut back on its workforce. Magic Eden has made the difficult decision to part ways with 22 teammates as part of a company-wide restructuring effort," CEO Jack Lu said in a statement. "As we established our priorities for 2023, we took an in-depth look at what structures and roles are needed internally, and had to make hard decisions to find the right mix of roles for us to pursue the next stage of scaling across chains. We have expressed to our broader team that the company remains very well capitalized.
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⚡️ IT firms see early signs of metaverse adoption
Indian IT services companies are witnessing early signs of metaverse adoption, both internally and with clients. Some of the services companies are first developing internal use cases for the metaverse that can be later expanded to serve client needs. At a later stage, they are also identifying replicable demand across verticals and investing in targeted offerings and driving proof-of-concepts (POCs) with clients. IT providers are identifying themes for metaverse adoption in their internal business operations, both in employee and customer-centric use cases, according to a Nasscom report titled “Metaverse – Prepare to Win”. Employee use cases can be for recruitment and onboarding, learning, development and workplace collaboration while customer-centric uses cases can be in the form of virtual delivery centres and pre-sales customer interaction.
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🖼 NFT legend Punk6529: NFTs are a bad investment with 'breathtaking' volatility
Pseudonymous crypto legend Punk6529 is famously represented on Twitter by a CryptoPunk NFT and has a collection that has generated about $24 million in trading. But that doesn’t mean he thinks investing in non-fungible tokens is a good idea. NFT collection has generated more than $24 million in trading volume but he calls the market volatile. Punk6529’s comments coincide with an NFT market that is struggling to rebound after a bull run came to a screeching halt and trading volumes tanked by more than 90%. What blue-chip collections have managed to maintain value — Bored Ape Yacht Club, Doodles and Azuki to name a few — are in the process of expanding their reach by pursuing other interests like video games, merchandising and content creation. Although skeptical of the NFT market from an investment perspective, Punk6529 said that they definitely can serve a purpose.
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🖼 Straight Talks on NFTs & Celebrity Endorsement
The NFT popularity curve exploded after more celebs jumped into the space for promotions. These promotions may lead investors to a foggy world, due to a cult of personalities. Regulators warned to beware of such happenings. BAYC remains in talk with high-profilers, including Eminem, Mark Cuban, Madone and more. Audience chuckled at “The Tonight Show,” when well-known media personality Paris Hilton said “reminds me of me,” seeing a cartoonish ape. Hilton and popular American comedian Jimmy Fallon talked about NFTs (non-fungible tokens), a digital art which is only bought via cryptocurrencies. They talked of Bored Ape Yacht Club (BAYC), and Fallon said “we’re both apes,” and Hilton cooperatively told that she too loves it. Since its opening from january 2022, “The Tonight Show” is consistent to bring matter to audiences eager to know about the collaborations of the crypto sector and celebrities. Though the Bored Ape Yacht Club (BAYC) wasn’t the only big chunk in this space, but it benefited much through these hypes.
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🖼 Ethereum NFT collection OnChain Monkey doubles in price after launch on Bitcoin via Ordinals
Saturday 11th Feb. Many would say that the Bitcoin ordinals protocol is bad business for the Bitcoin network. But some NFT creators might disagree with the newly recorded sales that are yet to be seen in the Ethereum NFT marketplace.Ethereum NFT collection that was first minted in 2021 is doing massive numbers on the Bitcoin network. The Ethereum NFT has seen a rise in floor praise following announcements that it was available on Bitcoin via the Ordinals protocol. In fact, there has been a record of $1.1 million in sales made in just a day. The project only had about $39 million in sales since its creation. Interest rates in the on-chain monkey NFTs have gone up following its performance in the last 24 hours, trading volume has gone past 12,000%. The floor price for an NFT from the collection that was listed on the marketplace was originally priced at 0.79 ETH.
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⚡️ Reddit’s Super Bowl LVII NFT Avatars Crosses Over a Million
In recent months, Reddit’s Collectible Avatars initiative has provided millions of users with free NFTs, making it a model of efficiency as a Web3 on-ramp. Reddit is ready to achieve yet another landmark owing to a new partnership with the NFL on free Super Bowl NFTs. Since its release on Monday, over 1.3 million official Super Bowl LVII NFT avatars have been minted, with over 500,000 created on Tuesday alone. According to publicly accessible blockchain statistics on Dune, users have already minted over 9.7 million of Reddit’s Collectible Avatar NFTs. All users of the Reddit platform may get one of four different Super Bowl avatar designs including those for the Kansas City Chiefs and Philadelphia Eagles without spending a dime. Polygon, a network built on top of Ethereum.
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⚡️Microsoft slashes its Industrial Metaverse unit in bid to cut costs
The metaverse is proving to be a tough nut to crack amid worsening economic conditions as Microsoft has followed Meta in a revamp of its approach to the future of Web3 by shutting down a team that was formed only four months ago to help customers use the metaverse in an industrial setting. The Information reported on Thursday that the American tech giant has elected to discontinue the project and lay off the roughly 100 employees that worked in its Industrial Metaverse Core team. Microsoft originally formed the team back in October with the goal of helping customers create immersive new software interfaces for operating the industrial control systems behind electrical power plants, industrial robotics and transportation networks. company’s efforts to shore up its finances ahead of a potential recession.
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🔫 Microsoft Disbands Industrial Metaverse Project: Report
Microsoft (MSFT) has ended a project that aimed to encourage the use of the metaverse in industrial environments just four months after it was formed, according to a report by The Information on Thursday. The 100 members of the team have been laid off, according to the report, citing a person with direct knowledge of the matter. The company wants to prioritize shorter-term projects over those needing longer to generate meaningful revenue, the person said. Microsoft formed the Industrial Metaverse Core team in October to work with clients in health care, retail financial services and energy, among other industries, in building software interfaces that could be used to drive metaverse-related projects.
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🖼 Ordinal Punks NFTs called out as ‘sketchy’
Anonymous Twitter account TheNorwegian expressed concerns about Ordinal Punks NFTs, asking, “[is this] the biggest NFT scam of all time?”. On Feb. 9, CryptoSlate reported on the rising popularity of Ordinal Punks, covering the sale of three NFTs according to social media posts, including #94. The novelty of NFTs on the Bitcoin chain and the chain’s provenance seems to be driving demand for these NFTs. However, some are questioning the collection’s legitimacy. Given that the Bitcoin chain was not originally designed to accommodate NFT functionality, there is no infrastructure to verify information such as sales or even to accommodate sales in a click-and-buy process. NFT collection but then questioned whether Ordinal Punks are worthy of being classed as blue chip.
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Gaming & Metaverse mark entry into Cannes Lions 2023
A new category “Entertainment Lion for Gaming” has been introduced this year with an aim to celebrate creative work that connects people to brands through gameplay. Opening the doors to the buzzy Metaverse as well, the organizers have expanded the category of “New Realities and Emerging Tech”. The use of Metaverse has been defined as ‘the creative application of immersive experiences which creatively push the boundaries of technology’. The developments have come at a time when the gaming ecosystem with nearly three billion users is becoming more and more attractive for advertisers. An Accenture report estimated that the full value of the global gaming industry crossed $300 billion by 2021, more than the combined markets for movies and music, driven by a surge in mobile gaming.
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📣 Community-centric NFT collection for the hustlers goes live to the public
As the market turned from bullish to bearish, many critics were quick to question the legitimacy of new digital collectible releases. Fortunately, the market turn wasn’t an end to the asset class as a whole, but rather to the projects that weren’t rooted in real utility. Therefore, many collections are putting the community front and center, building intentionally so that members can find value in the sense of belonging, support and connection. These digital collectible communities are also a source of information, resources and opportunities, serving as a platform for individuals to come together with their shared experiences and to encourage each other as they continue their daily hustle. they can join forces to strengthen their connections.
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📣 CryptoPunk, Bored Ape Sell for Over $1M Each as NFT Market Rebounds
The NFT market is gaining steam again in 2023, as rising sales and trading volume data showed in January. Now there have been two more prominent signs of a rebound over the past 24 hours, as single Ethereum NFTs from the popular CryptoPunks and Bored Ape Yacht Club projects each sold for more than $1 million worth of ETH. Both sales came from prominent collectors and creators in the NFT world, and they also mark the two largest single NFT sales tracked by CryptoSlam over the past 30 days.CryptoPunk #5066 was sold on Monday for 857 ETH, or $1.4 million worth at the time. It was sold by Kevin Rose, the co-founder of NFT startup Proof (Moonbirds) as well as a venture capitalist, serial entrepreneur, and noted NFT collector. The buyer is unknown, although the NFT was transferred into another wallet labeled bitshamed.eth shortly after the purchase.
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❕ SAND token jumps over 20% following metaverse discussions with Saudi Arabia
The Sandbox token price continues to soar after the metaverse game platform revealed discussions of a partnership with Saudi Arabia. according to TradingView data. The token began to climb following news of a memorandum of understanding, around 4 p.m. EST. Metaverse tokens experienced a mysterious January bull run. SAND hit a January high of $0.84, climbing from $0.38 at the start of the year. Selling pressure could eclipse this most recent rally, with 12% of SAND supply set to be unlocked on Feb. 14. Roughly 50% of the unlock is allocated to investors and advisors. The last unlock in August could be a useful gauge, wrote Kaiko Research Analyst Conor Ryder. August 14th, nearly 75% of all significant trades were sell orders as investors looked to cash out of SAND.
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📊 ApeCoin leads in NFT and metaverse market share
The ApeCoin ecosystem is progressing with games and brand-building, but the 100% APY reward for APE staking could eventually do more damage than good. An upcoming unlock of around 9% of APE’s circulating supply in March, along with not-so-impressive fundamentals, will add further headwinds for the token. The gains in APE will depend on the success of the blockchain gaming projects in the ApeCoin ecosystem and new partnerships between Yuga Labs and big brands. ApeCoin DAO launched its APE staking mechanism in December. The APE staking pool yielded 90% annual returns in the first two months. Holders of the Bored Ape Yacht Club (BAYC) NFTs and related collections are eligible for twice the yields of around 171%, adding significant selling pressure for the token.
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⚡️ KB Home Brings IRL House Hunt to the Metaverse
Homebuilder brand KB Home has created a virtual new home community in the metaverse to help sell houses online. On Decentraland, consumers can explore three different model homes with three-dimensional interactive elements that bring the home viewing experience to the virtual world. KB Home has had a long-standing history of ground-breaking innovation and a series of firsts that have expanded the American Dream. Launching a virtual new-home community in the metaverse represents yet another first and supports our goal of connecting with and inspiring the next generation of homebuyers,” said Amit Desai, KB Home’s chief marketing officer. “We want to meet our customers wherever they are – be it in the physical world or in virtual spaces where we know consumers are increasingly immersing themselves and spending more time.
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📣 World's First Ultra-Luxury Metaverse Mansion brings luxury lifestyle experiences to the masses
A Revolutionary Fusion of Interior Design and Metaverse Technology Leading 3D architectural design firm 2B design build’s (website link) @2bdesignbuild (Instagram link) has joined forces with the industry's top metaverse design software, Unreal Engine 5, to launch a new division, 2B Meta( Website link) dedicated to bringing ultra-luxury lifestyle experiences to the masses through the Web 3 space. As part of this initiative, the company is thrilled to unveil the world's first ultra-luxury metaverse mansion, now available to the public through the purchase of NFTs Boasting over 200,000 square feet of opulent living space, including a 200-foot swimming pool, private nightclub, and a host of ultra-luxury spaces filled with supercars, boats, helicopters, and jets, the virtual mansion also serves as an interactive NFT showroom, allowing owners to display and share their personal NFT collections with friends, host meetings, and attend private events. Project owners will have full access to each space in the metaverse But the luxury doesn't stop there. 2bdesignbuild is also releasing additional luxury spaces, including a high-rise tower on Billionaires Row in Manhattan, a waterfront villa on Dubai's Palm Island, and a winter mansion in St. Moritz, Switzerland.
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📣 Mark Zuckerberg Doesn't Want to Talk About the Metaverse Anymore
The Facebook parent didn't turn in particularly strong numbers. Revenue in the quarter fell 4% to $32.2 billion, and earnings per share plunged 52% to $1.76, though adjusting for restructuring charges, earnings per share were down 18% to $3, which was better than estimates. Looking ahead to the first quarter, the company expects another modest decline in revenue, a sign of the macroeconomic headwinds in the ad market and its decision to ramp up its short-form video product, Reels, which monetizes at a lower rate than other "surfaces" like news feed and stories.CEO Mark Zuckerberg's focus seemed to shift back to the core business, its family of apps, which is made up of Facebook, Instagram, WhatsApp, and Messenger.
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🪙 A French-Iranian NFT Artist Joins The Sandbox to Launch an NFT Comprising ‘World Letter’
Cocovan, an NFT artist of French-Iranian origin, has been traveling across the globe to collect love letters from people to add them into a lengthy letter since the year 2017. The purpose of the letter is to present a unified image of the whole of humanity by creating a huge emblem of peace. At present, she is utilizing the Metaverse to share her project by eradicating physical boundaries. The Sandbox, the 3rd-biggest Metaverse world, published a blog post on its online platform describing the collaboration with the NFT artist. The platform stated that the Metaverse experience of the respective NFT collection is to be open to everyone. The span of the Metaverse experience will start on the 13th of February and will last till the 27th of the same month.
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⚡️ Super Bowl Crypto Ads Lacking, but NFTs Have a Spot
Mark Evans, Fox Sports’ executive vice president of ad sales, told AP this week that two crypto advertisers had commercials “booked and done,” adding that two others were close behind. But those deals fell through, he said, after the crash of FTX, which filed for bankruptcy in November. The exchange was among the crypto companies to run a Super Bowl ad in 2022. A great deal has changed for the industry since — including for other digital asset advertisers during last year’s big game. Coinbase and Crypto.com have taken steps to cut costs. Trading platform eToro told Blockworks last month it chose not to buy a spot this year. And crypto exchange OKX, which was planning a commercial, ultimately opted out of the bear market splurge.Crypto exchange Bitbuy bought an ad to run sometime within an hour before the Kansas City Chiefs and Philadelphia Eagles kick off, but only viewers in Canada will see it.
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📣 Shopify NFT Merchants Can Now Use the Tokengating Features
A set of blockchain commerce tools launched by crypto-friendly e-commerce giant Shopify . This aim to enhance the user experience of their Web3-focused stores hosted by the platform. Improved crypto wallet connect abilities and tokengating application programming interface (API) tools have received special attention. Previously only available to a restricted group of merchants. The latter has been in early access beta access mode since June 2022. Shopify has integrated the sign-in with Ethereum (SIWE) protocol, which is run by the Ethereum Name Service (ENS). And the Ethereum Foundation, to support more crypto wallets.
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🖼 NFT Sales Rise 18.43% This Week, Led by Ethereum's $233.85 Million in NFT Settlements
Non-fungible token (NFT) sales rose 18.43% this week, totaling $272.68 million. However, the number of NFT buyers declined by 60.31% to approximately 195,716. Ethereum NFT sales continue to lead the market, accounting for $233.85 million of the total sales, a 25.42% increase from the previous week. NFT sales rose 18.43% this week, with $272.68 million in sales recorded across more than 20 blockchain projects that issue NFTs. Ethereum led the market, accounting for 85.76% of the total sales with $233.85 million. ETH-based NFT sales also increased by 25.42% from the previous week.
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📣 Mawari raises $6.5M to speed 3D content delivery for the metaverse
Mawari has raised $6.5 million to enable faster 3D content delivery for digital assets for the metaverse. It hopes to offload the processing and networking requirements for our future internet with technologies such as machine learning, compression and blockchain to enable a 3D metaverse. The firm said the oversubscribed round was led by Blockchange Ventures and Decasonic, with additional investments from Abies Ventures, Accord Ventures, Anfield, Outlier Ventures, Primal Capital and others. “We are excited to have achieved this major milestone with such a prestigious group of investors who share our mission and ambition to deliver the metaverse to everyone,” said Luis Oscar Ramirez Solorzano, CEO of Mawari.
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🖼 The Hottest Bitcoin NFTs Right Now Are CryptoPunks Clones
Bitcoin NFTs are the talk of the Web3 world right now, thanks to a new way to “mint” media and assets on the layer-1 blockchain through the Ordinals project. And, as with many past NFT network launches, cloned versions of Ethereum’s early and influential CryptoPunks are dominating the early buzz around Ordinals. CryptoPunks, created by Larva Labs in 2017, is a seminal NFT project that set the template for the modern profile picture (PFP) trend. The 10,000 Ethereum assets were initially released via a free mint, well before there was a thriving NFT market, but have gone on to generate almost $2.5 billion worth of trading volume in the years since.
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Dubai's cryptocurrency regulator issues new rules for metaverse, virtual assets
Dubai’s Virtual Assets Regulatory Authority (VARA), the regulator overseeing cryptocurrency laws in UAE's largest city, announced updated regulations this week aimed at building its virtual asset industry, while also combating ongoing illicit financial activities in virtual space. The new regulations cover seven broad virtual asset activities ranging from lending and borrowing services to management and investment services, with the goal of building protections to increase investor confidence and market growth in Dubai. The new regulations contain rulebooks and guides explaining terminology, fees necessary to conduct virtual financial activities, and fines for violations that can add up to more than $13 million. Dimitry Mihaylov, the chief scientific officer at metaverse gaming platform Farcana, said that spelling out fintech rules puts Dubai ahead of the global pack.
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Ordinal Punks emerge as leading Bitcoin NFT collection
The tweet mentioned the recent sale of #27, which sold for 1.93 BTC ($43,800). It also stated another sale occurred soon after, for the sum of 2.06 BTC ($46,800) but did not disclose which punk the sale related to. A Reddit poster said, “Ordinal Punk with the inscription number 620 was apparently sold for 9.5 Bitcoins ($215,800)” during the early hours of Feb. 9. The punk in question is #94. Some commenters explained the high sale price as money laundering or wash trading to create a manipulated price floor. The parallels between Ordinal Punks and Larva Lab’s CryptoPunks on Ethereum are stark. Both were algorithmically generated and feature a retro pixel art style. However, in the case of Ordinal Punks, there are only 100 NFTs versus 10,000 CryptoPunks.
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📣 Hermès Gets Win Over MetaBirkins in First NFT Trademark Trial
Luxury brand Hermès International SA won its lawsuit against the digital artist behind “MetaBirkin” nonfungible tokens after convincing a Manhattan federal jury that Mason Rothschild’s sale of the NFTs violated Hermès’ rights to the “Birkin” trademark. The nine-person jury returned a verdict on Wednesday, awarding Hermès $133,000 in total damages. They also found Rothschild’s NFTs aren’t protected speech under the First Amendment. Legal experts have closely followed the case, which could influence pending and future NFT cases that test the often blurry line between art and consumer products. The verdict comes as numerous fashion brands ranging from Balenciaga to Nike Inc. are announcing plans to expand into NFTs and the metaverse.
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🤟 BAYC cracks down on Dookey Dash cheaters as finale approaches
Blockbuster NFT collection Bored Ape Yacht Club is cracking down on cheaters playing its gamified mint Dookey Dash, as contestants look to the finish line later today. "We’ve already noticed some Dookey Dash Sewer Passes associated with cheating. Those scores have now been removed from the leaderboard." The game, which launched in January, operates through a token-gated NFT called a Sewer Pass. These were awarded to holders of NFTs in the BAYC project and its counterpart Mutant Ape Yacht Club. These passes could then be sold on the secondary market, meaning anyone could buy into the game to claim a piece of the Dookey. The way the NFT was created has meant that Sewer Pass holders can delegate their asset to another player to play the game in their stead. Bored Ape Yacht Club also urged those doing this to make sure the person they had delegated.
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📣 Industrial Metaverse Primed To 3x Consumer, Enterprise Applications
In the crypto and blockchain space, the “machine economy” will emerge this year as one of the most promising opportunities for consumers, businesses, and enterprises. The metaverse is one of the four major machine economy use cases and the one with the most potential to unlock a multi-trillion-dollar economy for users, businesses, and smart device makers. The industrial metaverse, a hot topic during this year’s World Economic Forum (WEF) summit in Davos, is set to outgrow the rest by at least threefold due to its wider range of applications, such as advanced training, industrial simulations, medicine and surgery, among many others. It combines immersiveness, real-time data, and digital twins to create new business models and accelerate digitalization.
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