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📊 Guidehouse Insights Estimates Global Investment in Energy Metaverse Will Grow to Nearly $80 Billion in 2031
A new report from Guidehouse Insights provides an overview of the energy metaverse. Broadly speaking, the metaverse is the confluence of several emerging digital technologies, most already familiar to energy industry executives, which promises to radically change the way energy companies plan, build, operate, and market their services over the long term. According to a new report from Guidehouse Insights, global investment in the core energy metaverse technologies. The energy metaverse is just emerging, but the building blocks are securely in place. Core energy metaverse technologies include digital twins, AI and machine learning (ML), unmanned aerial systems (UAS) and drones, extended reality (XR), and blockchain-based applications. Utility storefronts in metaverse malls could provide virtual customers with real-world benefits such as product comparisons and purchasing, energy use analysis, and evaluation of a premises' suitability for solar. In-demand specialized experts in a field could work on a virtual offshore rig, advising onsite workers how to address a problem—without ever leaving their home office. And drones could conduct ongoing inspections of critical assets, feeding real-time data into digital twins equipped.
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⚡️ E& launches first metaverse zones in the region
e&, a UAE headquartered leading technology group, on Wednesday announced the launch of ‘e& universe’, the first metaverse in the region that is set to captivate audiences with phenomenal experiences. This extraordinary platform, which aims to give users an exceptional digital experience, made its debut at Gitex last year. This was conceptualised and launched in line with the UAE's metaverse strategy to position itself as a pioneer in shaping the future of emerging technologies on a global scale, it said. e& universe hosted the first Unpacked event in the metaverse for the new Samsung Galaxy series on July 26 at 15:00, where users were able to pre-order their favourite Galaxy devices in the metaverse and take advantage of the exciting pre-order offers Samsung is rolling out for the new devices, bringing users one step closer to global technology updates and becoming the virtual hub for entertainment and live events. Khaled Elkhouly, Chief Consumer Officer, etisalat by e&, said: “We are thrilled to bring our revolutionary metaverse, a virtual realm that transcends imagination and brings together various zones of boundless possibilities. This groundbreaking launch will reshape the way we interact, explore and create, offering all our users a truly immersive experience.
NFTs | OpenSea | News
🖼 Gucci Wants to Reward ‘Material NFT’ Holders With 2 Physical Items – For Free
Luxury fashion powerhouse Gucci is preparing to gift two exclusive physical items – a wallet or bag – to holders of its Gucci Vault Material NFTs, which will be generally unavailable to Gucci’s usual clientele. The Material NFTs debuted last March as part of a partnership between Gucci and the narrative NFT project, 10KTF. The collection dressed eleven selected NFT collections, including Bored Ape Yacht Club (BAYC), World of Women (WoW), Cool Cats, and more, in digitally enhanced Gucci outfits to showcase Gucci’s digital identity in an alternate world. 10KTF tells the fictional story of a floating city in a parallel universe, following Gucci’s Creative Director Alessandro Michele as he takes a trip from Rome to New Tokyo. During his time in New Tokyo, he crosses paths with Wagmi-san, the famed digital artisan who was considered a legend in having crafted the coveted items in his 10KTF shop. While the true purpose of the Material NFT was shrouded in mystery when it was initially introduced to Grail NFT holders, the curiosity and anticipation from the Web3 community was nothing short of genuine interest – especially for Gucci Grail NFT holders who were airdropped the Material NFT last year. For this reason, those NFTs were valued at around $600 on OpenSea prior to its ultimate purpose being revealed to the community.
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🟠 Binance AI NFT Generator Delights KYC-Verified Traders
Binance NFT has launched its AI NFT generator called “Bixel” which allows users to create custom artworks using AI technology. This tool has become permanently available to users since July 26, 2021. The trading platform stated that the AI NFT generator helps users produce unique digital art, making it easier for them to join the world of NFTs. To use the AI NFT generator, users must complete BNB’s know-your-customer (KYC) identity verification process. BNB has emphasized that this is a critical measure that ensures a trustworthy and secure platform for all users, aligning with best practices and regulatory requirements. Before using the tool, users must pay a minting fee of 0.008 BNB, which is approximately $1.9 at the time of writing. The minting fee is essential to ensure the proper execution of the NFT creation process within the BNB smart chain. Additionally, when it comes to generating artwork using AI, Binance NFT provides ten chances for users to produce art for free each day. The beta version reached its full capacity within 2.5 hours, achieving the allotted minting limit of 10,000 NFTs shortly after it went live.
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🖼 Ducati announces release of NFT collection on XRPLedger
Ducati, an Italian motorcycle manufacturer, announced the launch of its first-ever digital collectibles on the XRPLedger. The brand chose XRP through the XLS-20 standard to expand its footprint in the web3 ecosystem. The move is likely to drive the adoption of XRPLedger’s native token XRP and catalyze the altcoin’s recovery in the long term. The XRPLedger (XRPL) was created in 2012 specifically to facilitate payments in XRP. Ducati’s collectibles launch will be made possible through the XLS-20 standard on the XRPL blockchain. Ducati’s partnership could be the first of many for XRP as brands innovate in the web3 ecosystem. Ripple is one of the contributors to the XRPLedger, running six of the thirty five unique validator nodes in the blockchain network. NFT collections continue to drive activity on the XRPL, and since the XLS-20 standard went live, over one million assets have been minted on the ledger. The XLS-20 has powered these NFT collections on the XRPL, all functionalities like minting, trading, burning and automatic royalties are handled by XRP’s blockchain. NFT collections continue to drive activity on the XRPL, and since the XLS-20 standard went live, over one million assets have been minted on the ledger.
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🖼 CyberKongz to Mint Genkai NFTs on Ronin, Migrate Game to 'Axie' Chain
CyberKongz has grown into a significant NFT franchise, with $210 million in total volume traded across just the largest of its four collections. Now, the creators plan to migrate the CyberKongz NFT minting game, called Play and Kollect, from one Ethereum sidechain to another—from Polygon to Ronin, the network created by Axie Infinity developer Sky Mavis. The Kongz team is also launching Genkai, a new anime-inspired NFT collection, across both Ronin and the Ethereum mainnet this week—with plans for a second game on the horizon. “Genkai is the first non-pixel artwork I have created for CyberKongz, and will represent our growth as a project to expand our IP into the Southeast Asian and Japanese markets,” said pseudonymous CyberKongz founder and artist Myoo in a statement. “Additionally, CyberKongz will be working with Ronin to develop a game featuring Genkai.” Because Ronin is currently a private (or permissioned) blockchain, the Genkai mint is the first non-Axie Infinity NFT drop to occur via the blockchain. The move comes just months after Sky Mavis announced that it is working with four game studios, including the makers of The Machines Arena, to build out Ronin’s gaming ecosystem.
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🖼 Melania Trump's 'Man On The Moon' NFT Featuring Buzz Aldrin Clashes With NASA Policies
Former First Lady Melania Trump launched her newest collection of non-fungible tokens (NFTs), featuring a photograph of NASA astronaut Buzz Aldrin’s historic moonwalk. The catch? NASA does not grant approval for the use of its imagery in these digital tokens. Gizmodo reported this alleged breach, pointing out that NASA’s Regulations on Merchandising Requests and Media Usage Guidelines explicitly state that the agency does not permit its images to be associated with NFTs. Melania Trump unveiled her Apollo 11 NFT collection, titled “Man on the Moon,” on Wednesday, coinciding with the 54th anniversary of the historic mission. Priced at $75, this limited edition collectible comes with an embedded audio file that purchasers can unlock to enhance their ownership experience. Additionally, the guidelines emphasize that NASA is not approving any merchandising applications tied to NFTs. According to NASA’s regulations, any individual or entity intending to use NASA imagery, emblems, or identifiers on merchandise must obtain prior approval from the agency. The approval process is governed by “strict laws and regulations.”
NFTs | OpenSea | News
🖼 Graham’s launches first NFT with 1970 and 2020 Vintage Port
The company has announced that it will release 50 limited-edition cases (2 x 75cl) of its 1970 Vintage Port and the special Graham’s 2020 Bicentenary Edition Vintage Port with an NFT. Separated by half a century, the cases containing the 1970 and 2020 Vintage Ports celebrate 50 years of Symington family stewardship of Graham’s and offer a series of unique benefits and an exclusive experience to buyers via the NFT. The unique digital asset provides the owner with a guarantee of the authenticity of the wine and entitles them to a series of benefits. A total of 44 of the limited edition cases will be sold exclusively through the Graham’s Lodge in Vila Nova de Gaia from 24 July. Three of the 44 cases sold through the Graham’s Lodge will be offered with an additional exclusive experience of a private day visit (for four people) to Graham’s principal estate in the Douro Valley – Quinta dos Malvedos. The day will include a guided tour of the vineyards and winery followed by a tutored tasting and lunch at the estate house, which is not open to the public. The price of this case with an NFT entitling the holder to both the benefits and exclusive experience is €3,000. Owners can easily access their NFT on the Club dVIN platform by tapping their phone on the anti-counterfeit NFC tags attached to each bottle.
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🔫 PNB launches its virtual branch called PNB Metaverse
State-owned Punjab National Bank (PNB) on Thursday announced the launch of a virtual branch, PNB Metaverse. It is a virtual branch of the bank, which will deliver a unique experience of banking to existing and new customers who can now explore the bank's products and services such as bank deposits, retail/MSME loans, digital products, women/senior citizens, 'Do It Yourself' and government flagship schemes, PNB said in a statement. PNB has developed the Bank's Metaverse Branch, where its esteemed customers will get exclusive access. In this new phase of the internet, which evolves from a disparate collection of sites and apps into a persistent 3D environment, where moving from work to a social platform is as simple as walking from the office to the movie theatre across the street, PNB managing director Atul Kumar Goel said. In addition, the bank will offer an immersive 3D experience to the customers while performing traditional banking activities through their digital avatars, it said. "With this technology, we are looking forward to increasing the customer engagement rate, improving customer acquisition process and providing hyper-personalized customer experience,” he added.
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📣 RewireHub Launches Metaverse Office and Prepares for Blockchain and AI Solutions
RewireHub, a digital marketing agency based in the UAE, has recently made a notable advancement by introducing a comprehensive metaverse office that is fully integrated. By adopting this advanced technology, RewireHub has positioned itself as one of the few global companies to embrace this pioneering initiative. The Metaverse office surpasses conventional workspaces by providing a revolutionary digital environment that expands the opportunities for both remote teams and clients. Muddashir Siddique, the Chief Executive Officer and Chief Marketing Officer of RewireHub, conveyed his excitement regarding the new initiative. He expressed that RewireHub has always incorporated innovation and progressive work models as a fundamental aspect of their approach. The Metaverse office exemplifies our commitment to leveraging state-of-the-art technology and transforming our understanding of space and collaboration. The Metaverse office is not only designed to facilitate daily operations and promote team collaboration, but it also functions as a highly adaptable platform for various client meetings, webinars, online events, and meetups. By leveraging this platform, users can create immersive and captivating experiences.
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⬜️ OKX Wallet is Now Integrated with NFT Trading Platform OpenGate
OKX, a leading Web3 technology company, has issued updates for July 21, 2023. OKX Wallet is thrilled to announce its integration with OpenGate, an NFT trading platform on the Filecoin network. With this integration, users can access OpenGate with just a few clicks, enabling them to buy, sell, collect and discover a range of NFTs via the OKX Wallet web extension. OKX Wallet is a universal crypto wallet available on multiple platforms and interfaces, including app, web and web extension. Earlier this week, OKX Wallet announced that it is now open source. With its source code now available to the public on Github, developers and users can verify and inspect the safety and security of OKX Wallet – as well as other core functions of the multi-chain wallet’s code – fostering greater trust and confidence within the Web3 community. OKX Wallet: The world’s most powerful, secure and versatile crypto wallet which gives users access to over 50 blockchains while allowing them to take custody of their own funds. The wallet Includes MPC technology which allows users to easily recover access to their wallet independently, removing the need for traditional, ‘written down’ seed phrases
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🔫 Upland launches FIFA Women’s World Cup experience in metaverse
Upland, a metaverse app, is collaborating with FIFA to offer fans an immersive experience of the FIFA Women’s World Cup Australia & New Zealand 2023, reports on July 21 reveal. The partnership aims to engage the FIFA Women’s World Cup fan community. Supporters can have a fully immersive and unique experience of the FIFA Women’s World Cup Australia & New Zealand 2023 through the metaverse platform designed for the event. In the Upland Metaverse, the collectibles become rewards for fans’ team pride. The metaverse platform features FIFA Women’s World Cup Australia & New Zealand 2023-themed Cafes, allowing fans to collectively socialize, chat, and support their teams, celebrating women’s football. Additionally, the platform offers a collection of digital assets and highlights videos related to FIFA’s tournaments, which fans can experience in a gamified manner. This allows fans to acquire, trade, and complete different collections of digital assets, showcasing their team pride. Users can display their country and team pride on their virtual properties, wave flags in their neighborhood, and explore the vast Upland world with these collectibles.
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🖼 Melania Trump's Apollo 11 NFT Defies NASA Rules
It would appear that a Trump has run afoul of the federal government this week—but perhaps not the family member you’d expect. Former First Lady Melania Trump has potentially sparked conflict with NASA by apparently violating the federal agency’s policy on image usage in her latest NFT drop. The collectible, titled "Man on the Moon"—which released on Wednesday—prominently features the iconic 1969 photo of astronaut Buzz Aldrin partaking in the NASA-orchestrated Apollo 11 lunar landing. Per agency policy, however, usage of NASA images in connection with an NFT project. “NASA does not wish for its images to be used in connection with NFTs,” the organization’s Regulations on Merchandising Requests and Media Usage Guidelines explicitly read, further noting that the agency is "not approving any merchandising applications" tied to NFTs. Companies or individuals wishing to use NASA imagery, emblems, or identifiers on merchandise must have that usage approved by the agency; NASA states that “strict laws and regulations” govern this approval process. In this case, Trump and the USA Memorabilia NFT platform she used may not have filed a request with NASA, or may have had a request rejected, as NASA strictly prohibits NFT-related uses of its intellectual property.
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🖼 NFT of Jack Dorsey’s first tweet, originally purchased for $2.9M, is worth less than $4 in today’s market
During the peak of the non-fungible token (NFT) market in 2021, crypto entrepreneur Sina Estavi made headlines when he purchased Twitter’s co-founder Jack Dorsey’s first tweet as an NFT for $2.9 million. Two years later, the value perception of the same NFT has significantly changed with the best offer currently standing at just $3.77, according to the latest data from OpenSea. NFT since 2022, his efforts have been futile as he had listed the digital asset for $48 million. With the broader crypto market undergoing a record market downturn, the NFT sector has seen a further decline in activity and valuation since then, and bids for digital assets have drastically dropped. In fact, blue-chip NFT collections like Bored Apes and Crypto Punks have seen more than a 70% decrease in their floor price compared to their peak levels. But the offer of a philanthropic gesture did not galvanize the community towards the NFT as the bids for the asset were as low as $280, while the highest amount offered then was $6,800. This greatly discouraged Estavi, who reportedly said he might never sell the NFT.
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🖼 Moonbirds Mythics NFTs Begin Reveal That Will Last at Least 200 Days
NFT startup Proof has launched its new Ethereum profile picture (PFP) collection, Mythics, the newest evolution of its prominent Moonbirds project and the latest installment in its digital art ecosystem. Set to feature a generative series of illustrations of mythical birds—with more of a hand-drawn aesthetic compared to the pixel-based Moonbirds—Mythics arrives with what the company hails as a “new minting experience” for existing Proof NFT holders. First announced in August 2022 alongside a $50 million Series A funding round with Proof led by VC giant Andreessen Horowitz, the Mythics collection features 20,000 profile picture NFTs based on the lore surrounding Moonbirds, a collection of 10,000 owl NFTs that has generated nearly $650 million to date worth of NFT trading volume. Moonbirds NFT holders must “nest” (or stake) their bird to be eligible to receive a Mythic egg, which hatches one of the new NFTs. Meanwhile, holders of Proof’s Oddities collection—a previous spinoff tied to Moonbirds—must burn (or permanently destroy) their NFTs to be eligible to receive a Mythic. Ultimately, a total of up to 100 Mythics will be released per day via this process, over the course of at least 200 days.
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📣 Bruce Lee avatar to teach martial arts in the metaverse
Legendary martial artist and actor Bruce Lee, who died in 1973, is set to teach martial arts in the metaverse through a tribute event hosted by a social entertainment platform to celebrate the 50th anniversary of the actor’s passing. Metaverse project Byte City announced on July 26 that those who wish to engage with the avatar of the late actor can participate in the event by minting avatars on Ethereum and Polygon. The minting is set to open on July 27 at 9 am PST for Polygon and July 28 at 9 am PST for Ethereum. Those who are able to mint avatars on Ethereum or Polygon will be able to utilize the playable characters that they minted within the Byte City metaverse game 24 hours after the mint. The game can be accessed through desktop browsers and through iOS and Android mobile devices. Byte City has also collaborated with Bruce Lee’s daughter Shannon Lee and Samsung Gaming to develop the tribute event. In a previous press release, Lee said that the game will provide an immersive experience that allows fans to celebrate her father’s legacy in a special way. Meanwhile, this was not the first instance of Bruce Lee diving into the Web3 world. On April 12, the Bruce Lee Foundation, which is also directed by Shannon Lee, partnered with the nonfungible token (NFT).
NFTs | OpenSea | News
📣 Mark Zuckerberg's Metaverse losses pass $40 billion.
Wall Street is starting to come to terms with the massive amount of money Mark Zuckerberg keeps pouring into the metaverse. With second-quarter results out, collective losses from Reality Labs, the metaverse unit at Meta, has now surpassed $40 billion and more financial pain is on the way. Yet, investors sent Meta's stock up 7% on Wednesday, after hearing Zuckerberg's explanation of why he continues to spend so heavily in a still largely unproven area. "This is a very long-term bet," Zuckerberg said on a call with analysts. "I can't guarantee you that I'm gonna be right about this bet. I do think that this is the direction that the world is going in." Zuckerberg went on to explain the various consumer tech trends he's noticed, leading him to believe that a more immersive version of the internet will become the norm in the years ahead. This time, analysts hassled Zuckerberg much less on metaverse spending than they have in previous quarters. The difference: Last year, Meta reported slowing or negative revenue growth. Now, much of the focus during the call was on Meta's AI projects and the surprising growth and success of Threads. Revenue increased in the second quarter, and is expected to increase again in the next. Meta has done huge layoffs and cut expenses in other ways.
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📣 e& launches its metaverse ‘e& universe’ with Samsung’s Unpacked event
UAE's telecommunications giant e& made its official entry into the metaverse on Wednesday with the launch of 'e& universe' and collaborated with Samsung to host the first-ever Unpacked event in this virtual realm. During the event on July 26 at 3 pm, users had the opportunity to pre-order the latest Samsung Galaxy smartphones within e& universe. This platform, introduced at GITEX last year, aims to keep users updated with global technology advancements. Khaled Elkhouly, Chief Consumer Officer, etisalat by e&, said, “We want to welcome all our customers to a future of interconnected realities and are pushing the boundaries of digital innovation, empowering them to create unforgettable experiences in an ever-evolving metaverse.” Hosted virtually in Arcadia Planitia, a place on Mars considered the most suitable for future life, e& universe is a tribute to the UAE’s national space strategy, said e&. Joseph Lin, GM of VIVERSE, said, “These remarkable new features we’ve developed for e& underscore its commitment to pioneering innovative ways for people to relish content and forge meaningful connections with one another.”
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🖼 Snoop Dogg's NFT-Inspired Ice Cream: Dr. Bombay Hits Walmart
Dr. Bombay Ice Cream draws its name from Snoop Dogg's NFT character, blending the digital and physical worlds. The ice cream comes in seven flavors: Bonus Track Brownie, Cocoa Cream Cookie Dream, Iced Out Orange Cream, Rollin' In the Dough, S'more Vibes, Syrupy Waffle Sundaze and Tropical Sherbet Swizzle. It will be debuting in 3,500 Walmart stores across the U.S., according to Food Business News. Snoop Dogg shared his thoughts on the venture, stating, "Ice cream is more than just a snack to me; it's a way to chill, relax and get happy. Fans will also notice that my sidekick, Dr. Bombay is the name, face, and persona of this brand. That's because he's like a son to me, and you always want your kids to be more successful than you are, that's my goal in building this lifestyle brand — starting with ice cream.". The partnership with Happi Co. opens a new chapter for both entities. Happi Co. CEO Sam Rockwell spoke about the collaboration, stating, "When Snoop approached us with the idea of starting a new company with a focus on frozen treats, it became obvious that we share core values.
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🖼 A New Sleepdrop Scam Uses NFT Airdrops To Steal Your Funds
The team at Forta Network has sounded the alarm about a new version of the Sleepdrop scam. This version of the scam uses NFTs and a verified contract to mislead users into thinking they’re interacting with a legitimate airdrop. Forta Network is a California-based security and operational monitoring network for wallets, developers, and investors. Lido is one of its users. The Forta community discovered the scam when a new NFT from Lido was transferred into one of Forta’s multisig wallets. After Lido confirmed that it was not the source of the NFT, the Forta community studied it and discovered it was a scam. The scam involves several steps. First, the scammer creates an ERC-1155 (NFT collection) that impersonates a legitimate team. Next, the scammer transfers most of these counterfeit assets to a legitimate contract that previously conducted an airdrop. Then, the scammer triggers the airdrop function of the contract to distribute the NFTs to multiple addresses. To deceive recipients, the description of the NFT includes a phishing URL embedded within it. The main difference between a traditional sleepdrop and this scam is that the scam offers an NFT as a fake reward.
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💰 Solana-Based NFT Marketplace Exchange.art to Expand Into Ethereum
Exchange.art, the popular Solana-based digital art marketplace, is soon taking its platform multichain and integrating support for Ethereum. According to data from analytics platform CryptoSlam!, Ethereum's non-fungible token (NFT) trading volume takes first place at $10.2 million in the past 24 hours, while Solana trails behind in second place with just over $920,000. Larisa Barbu, COO of Exchange.art told CoinDesk that Exchange.art always had the plan to expand beyond Solana, and aims to onboarding new creators and collectors in doing so. “The vision of Exchange.art is to be a hub for digital art and then slowly, build out solutions for traditional art as well,” said Barbu. “So because that's the vision, and that's where we aim to go…being multichain is just kind of the next step in this direction.” “[Artists] would very much prefer to actually maintain only one platform and one community, instead of [always] juggling between two or three platforms, two or three communities, always updating information between the three of them, communicating with people on all of those platforms, and so on.” said Barbu. “It was actually a decision that we took because we had demand for it, from an artist perspective – and it will help quite a lot of artists.”
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🖼 Bollywood Actor Tapsee Pannu Launches NFT Platform 'Taapseeclub'
Bollywood actress Taapsee Pannu has launched a non-fungible token (NFT) platform for her fans: taapseeclub.com. It aims to create a positive space for her fans and separate genuine supporters from trolls. According to the website, "Taapsee Club consists of exclusive NFT competitions and giveaways where members can win merchandise from her movies and tangibly support the causes she champions." Moreover, it stated, "We intend to create a positive forum for Taapsee. After the launch, the maiden NFT drop is priced at around Rs 3,000. It offers a membership with a chance of winning gifts handpicked by Pannu. NFT membership includes four video greetings from Pannu. The actor joined the NFT trend at a time when the excitement around blockchain-based tech beyond financial services applications has tempered significantly. NFTs are digital arts that can be sold and bought just like tangible items. Several Bollywood and sports personalities in India got into the NFT space around the same period. Amitabh Bachchan, Salman Khan, Suniel Shetty, Sachin Tendulkar, MS Dhoni, and Yuvraj Singh, among others, issued NFT tokens with a similar goal in mind: to build a fan network.
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🖼 SQUISHMALLOWS AND VEEFRIENDS ARE BRINGING NFTS TO PLUSH
Squishmallows is making its way to Web3 thanks to a partnership with VeeFriends. Fans of digital collections will know that pop culture companies everywhere have been hopping on the NFT train, from Warner Bros. and Eluvio teaming up for a Superman collection to Funko releasing a series of House of Dragon Digital Pops. Jazwares is now joining in, partnering up with VeeFriends for four new Squishmallows, all based on NFT characters. Characters included in the new VeeFriends collection are Adventurous Astronaut, Humble Hedgehog, Intuitive Iguana, and Karma Kiwi. The characters originally appeared as NFTs designed by artist Gary Vaynerchuk. Each VeeFriends character will be featured as a 12-inch tall Squishmallows plush, retailing for $24.99. The Squishmallows brand is no stranger to licensing, with previous partnerships including Disney, Harry Potter, and Godzilla. The new VeeFriends Squishmallows are launching Aug. 7 exclusively at the Jazwares and VeeFriends online stores. Mark your calendars and get ready to collect a digital friend physically!
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⚡️ Gulf States Pioneer the Implementation of Metaverse Technology
Compared to two years ago, interest in the metaverse has been waning amongst tech giants. The virtual environment concept has not stuck as some industry leaders had hoped. According to a Wall Street Journal piece titled “The Metaverse Is Quickly Turning Into the Meh-taverse,” companies such as Disney are even eliminating or downsizing their metaverse departments. In the Middle East, however, the metaverse continues to be embraced by governments with enthusiasm. Israel has opened its first metaverse embassy in South Korea. Saudi Arabia has been engaged with companies such as The Sandbox, planning for long-term collaboration. Saudi Arabia has even opened the region’s first metaverse academy to provide training in the new technology. Scholars opine that NEOM, the planned smart city in Tabuk Province, is building “the first metaverse that actually is a metaverse.” In February 2023, global professional services firm KPMG announced that it would establish a Centre of Excellence (CoE) in Saudia Arabia with the aim of speeding up the application of the metaverse in the country as well as the wider Middle East and North Africa region. KPMG will be collaborating with a broad collection of suppliers including Microsoft, Ericsson and Metakey.
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🖼 NFT Collection Dimension X Set to Launch on August 8
NFT collection Dimension X has announced that it is to launch on Ethereum on August 8. The Ethereum-based digital cards can be used in a corresponding RPG game. Community members have the opportunity to register for a chance to mint an allowlisted NFT. The allowlist raffle for Dimension X closes on July 31 at 10am PST. The total supply for the collection has been set at 10,000 NFTs comprising 7,197 raffle mints and 2,803 reserved snapshot spots. Unclaimed reserved snapshot spots will be added to the raffle. Dimension X started as a free-to-play strategic RPG on the Flow blockchain set in a comic book universe. Within this world, a pan-dimensional explosion has created humans, aliens and monsters with terrifying superpowers. Players can use NFT heroes to fight villains and monsters, level up, and support their faction in an ever-changing world. They are tasked with preparing their super-teams and competing with other players. During the course of the game, players must compete for THUL that can be used to mint new heroes. The Dimension X team is actively developing and improving the game, adding new features that are built with the aid of feedback from the community. Interested parties can join the project’s Discord and check out their Twitter for more information and updates.
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🔫 Huawei and Alibaba top Hurun metaverse leaders list
Alibaba and Huawei topped the list, with NetEase, Tencent, and Baidu close behind in the top 5. Huawei is a key partner in several industry alliances aiming to support metaverse development through greater cooperation, most recently joining Xiaomi in signing on to one spearheaded by China Mobile. Meanwhile, Alibaba is partnering with blockchain provider Avalanche to launch Cloudverse, a launchpad for businesses to customize and maintain their own metaverse spaces on the blockchain. Among the companies listed by Hurun, which all have an enterprise value of more than 1 billion USD, 16% are state-owned enterprises and 84% are private enterprises. The vast majority (170) are publicly listed, whilst the remainder, including Huawei and ByteDance, are unlisted. Compared to last year, a greater proportion of enterprises in underlying technologies, ecological applications, and terminal industries made the list, as opposed to platform and network technology companies which were represented in greater numbers last year. At the announcement event held in Nansha in Guangzhou, Hurun representatives shared insights that emerged through their evaluation of companies’ metaverse potential.
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🔫 Hello Kitty Gets Its Own Metaverse Experience
The launch is being celebrated with an in-person event featuring Hello Kitty-themed AR experiences. This week it was revealed that Japanese icon Hello Kitty is receiving her own virtual destination inside MetaGaia, a decentralized metaverse platform featuring artificial intelligence (AI) powered companions, augmented reality (AR) games, and digital asset purchasing. fans of the fictional pop icon can immerse themselves in a variety of activities and browse Hello Kitty-themed digital items. Hello Kitty-themed digital items. Visitors can also unlock access to exclusive areas and daily login bonuses by purchasing a “Wonder Pass” for one of the Houses of Wonder. Those who mint a set of four Wonder Passes earn the title of “Wonderlord” and the ability to build their own custom space within the world. The celebrate the launch, a live pop-up event is being hosted at Citygate Outlets in Hong Kong, China. Here fans can interact with Hello Kitty-themed AR experiences powered by MetaGaia, browse Hello Kitty merchandise, and participate in various mini-games. The event runs now until August 31st. Hello Kitty Seven Wonders is open now to the public via MetaGaia.
NFTs | OpenSea | News
💰 Fair.xyz Announces Polygon Integration and NFT Mint
Fair.xyz has expanded its offering to cover Polygon (MATIC), the leading layer-2 network on Ethereum. Fair.xyz and Polygon have further collaborated to bring their community an NFT mint to mark the occasion which will be available for a limited time only. The aim of the initiative is to provide creators, artists, and businesses with an efficient NFT solution that reduces the high costs associated with Ethereum network fees. In doing so, Fair.xyz hopes to provide would-be NFT creators with a wider range of creative opportunities with lower barriers to entry. Designed for security and decentralization, the costs of using Ethereum are simply too high for everyday usage. In May 2022, Ethereum network activity drove the cost of a single transaction to nearly $200. Polygon is a blockchain platform that operates alongside the Ethereum network. Its purpose is to enhance scalability and improve the efficiency of Ethereum-based applications. Polygon achieves this by providing a framework for creating and connecting multiple sidechains, also known as Layer 2 solutions, to Ethereum. The main idea behind Polygon is to offload transactions and smart contract computations from the congested Ethereum mainnet to these sidechains. By doing so, Polygon significantly reduces the gas fees and transaction times associated with Ethereum and its ecosystem.
NFTs | OpenSea | News
⛵️ OpenSea Makes ‘Deals,’ Launches Peer-to-Peer NFT Swaps
Non-fungible token (NFT) marketplace OpenSea announced Thursday it's rolling out “Deals,” a peer-to-peer NFT swap function to help traders bolster their collections and engage with other collectors directly. OpenSea said in a tweet that Deals will allow collectors to trade NFTs among each other – as well as to include wrapped ether (WETH) to “sweeten the deal.” It added that the feature is powered by OpenSea’s native NFT protocol Seaport. OpenSea added that the product aims to make the NFT swapping trustworthy. According to the Deals webpage, users can enter the username, ENS name or wallet address of the person they want to make a deal with. They then can select up to 30 NFTs, as well as the amount of WETH they want to add to the swap, if any. Next, they select the assets they would like to offer to trade and then they can send the deal for consideration. Right now, OpenSea requires the NFTs on both sides of the deal to be on the same chain and from badged (verified) collections. A spokesperson from OpenSea told CoinDesk that Deals aims to invite more users to participate in NFT communities by simplifying the swapping process. By leveraging Seaport, collectors can swap NFTs on OpenSea without being subject to risks that might occur off-platform.
NFTs | OpenSea | News
🖼 Floor App Reveals Ethereum NFT Art Drops Exclusively on iOS and Android
Floor, which lets users track their NFT holdings, is about to try something pretty novel: sell exclusive NFT artwork solely through its iOS and Android apps. On Wednesday, July 26, Floor will debut the first of 10 planned NFT drops in Icons: Series One with a new work by Vinnie Hager, an artist known for his doodle-centric art style showcased in Letters, a 2021 NFT project that has generated $10 million worth of trading to date. Hager’s new Icons piece, titled “Ground Level Garden” will sell for $29.99 via the app using typical mobile payment methods, and it will be an open edition drop—so there’s no limit on how many can be minted during the set timeframe. After purchase, the Ethereum NFT will be airdropped to the user’s specified wallet, so buyers won’t need to pay for network gas fees. Floor co-founder and CEO Chris Maddern wouldn’t reveal the additional artists lined up for the ten successive weekly art drops, but said that they all have a “pretty strong following in Web3 today.” Each will be priced between $19.99 and $49.99. It’s not yet confirmed whether all will be open edition drops.
NFTs | OpenSea | News