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NFT & Crypto Updates

🔫 Mahindra Lifespaces unveils India's first home buying experience on the Metaverse

Mahindra
Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the Mahindra Group, unveiled India's first home-buying experience on the Metaverse with the launch of Bastion at Mahindra Citadel, which is the Phase 2 of the project. This milestone was revealed via a first-of-its-kind drone show, which culminated in a QR code in the skies of Pune, which led the audience to the Metaverse experience. The project was unveiled at the project location in Pimpri-Chinchwad, where over 500+ lit drones presented a spectacular show including visuals of key features of the project like the ecotone design, the home automation features and unveiling of the Metaverse experience. The drones finally formed a QR code that could be scanned by the audience to enter the Metaverse experience of Mahindra Citadel. In a first-of-its-kind unique experience, users are transported to their future homes, even before they make their decision to purchase. Users can also interact with elements within the homes and design interiors to their liking.

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🇦🇪 Dubai GDRFA rolls out Metaverse service for customers, employees

General
Directorate of Residency and Foreigners Affairs (GDRFA) in the metaverse, a virtual representation of a real location where people’s avatars meet, doing away with the need to visit the department. This advanced AI-driven system allows people to step into the future, where members of the community and officials can interact with each other in the metaverse. Just plug in your Virtual Reality (VR) headsets, and connect through smart phones, tablets, laptops or desktop. For "visitors", it provides the opportunity to interact with officials in a meeting room in the metaverse. Also they can visit Amer centre – pick any branch and take a ticket to complete a transaction. In case they need to meet official, the service will divert the service to the conference video call service. Lieutenant Colonel Dr. Ghalb Abdullah Al Merri, Director of Science, Data and Artificial Intelligence Department, explained to Gulf News about the latest metaverse project launched during GITEX. The project came within the department’s efforts to strengthen cooperation with its customers and involve them in the design and development of services. Metaverse comes within the framework of facilitating the meeting between customers through VR.

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🔫 THE VERSE, Transforming the Metaverse Landscape with Unique Single-Server Virtual World

THE
VERSE is proud to announce the launch of its highly anticipated Metaverse, a groundbreaking networked virtual world. With an innovative single-server approach, THE VERSE introduces an exceptional, seamless experience that sets it apart from the usual multi-server platforms.Inspired by the original vision of the metaverse in Neal Stephenson's "Snow Crash", THE VERSE aims to create an immersive and inclusive digital space. Blake Spurgin, co-founder of THE VERSE, reflects on the project: "When we conceived THE VERSE, we envisioned a digital realm that reflected the limitless possibilities of our universe. We're not just presenting another game; we're pioneering a truly interconnected metaverse where every user can create, connect, and thrive. This is just the beginning, and we're thrilled to be leading this virtual revolution.THE VERSE is full of engaging activities, including jetpacking, driving, boating, intricate quests, shooting, exploration and more. The platform also introduces a fascinating underworld with unique buildings and aesthetics.Rather than opting for simplified graphics, THE VERSE has taken a more realistic approach, ensuring that the graphics will remain timeless and compelling as technology evolves.

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🖼 SOKOS Launches the First NFT Cafe in Dubai and Showcases Innovative NFT Marketplace at Gitex 2023

SOKOS
, a trailblazing name in the world of Non-Fungible Tokens (NFTs), is proud to announce the grand opening of the first-ever NFT-themed cafe in Dubai. Coinciding with this exciting launch, SOKOS also took center stage at the Future Blockchain Summit during Gitex 2023, held in Dubai, where it showcased its groundbreaking NFT marketplace. SOKOS Cafe, the world’s premier NFT-themed coffee shop, invites patrons to experience the perfect blend of the physical and digital realms. The cafe, located in the heart of Dubai, offers an innovative and immersive atmosphere where visitors can enjoy a delightful cup of coffee while exploring the captivating world of NFTs. From exquisite artwork to unique collectables, SOKOS Cafe introduces visitors to a new era of digital art and collectibles. The cafe also serves as a platform for emerging digital artists to connect with the NFT community, fostering creativity and innovation. SOKOS didn’t stop there. At the Gitex 2023 Future Blockchain Summit, SOKOS showcased its cutting-edge NFT marketplace, which redefines the concept of digital ownership. Visitors at the event had the opportunity to witness firsthand how SOKOS is bridging the gap between the physical and digital worlds, revolutionizing the way we think about NFTs.

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🖼 Marco Casali reveals 43m NFT yacht concept Next Fisherman

Marco
Casali has revealed a 43-metre NFT yacht concept in collaboration with CloudYachts, the "world's first AI-powered yacht brokerage". Called Next Fisherman (also known as Freedom 43), the yacht belongs to a 500-piece "NFT gallery" called the Freedom Collection. The commissioning owner will have ownership of both the non-fungible token as well as Next Fisherman in its physical form. Next Fisherman is characterised by its planing hull, unconventional glazing and teal colour proposal – though the vessel can be built with a displacement hull upon request. Accommodation is across six guest cabins. Casali has incorporated a cream and dark brown colour scheme, lacquered wall panelling and integrated lighting to cultivate a warm but contemporary aesthetic. While full details are yet to be disclosed, the renderings reveal details such as the installation of padding alongside the main saloon's walls, creating extended window seating. Adjoining the main saloon is a 10-person dining table and complementary flat-screen television. On deck highlights include a helipad on the bow, a sundeck arranged with plunge pool and bar and ample main deck tender storage. Other concepts in the Freedom Collection feature designs from Bannenberg & Rowell and Greg Marshall. This news follows the highly-anticipated launch of Anjelif, a custom, hybrid yacht designed inside and out by Marco Casali.

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🔫 Metavesco's Boring Brew Specialty Coffee Featuring NFT Artwork Now Available at Walmart.com

Metavesco
, Inc. (OTC PINK:MVCO), a Web3 enterprise and digital asset innovator, proudly announces an exciting new development. Their brand, Boring Brew, renowned for its exceptional line of specialty coffee bags and cold coffee featuring NFT artwork, is now available on Walmart.com. This expansion marks a pivotal moment for Boring Brew as it introduces a larger audience to a tantalizing world of flavor and quality. Boring Brew, a wholly owned subsidiary of Metavesco, is celebrated for its commitment to craft and excellence. Their specialty coffee bags are a masterpiece in every brew, meticulously roasted on-demand to preserve the richness of high-quality beans sourced from the farthest corners of the globe. These beans are not just coffee; they are a canvas of taste, painting a narrative of world cultures and craftsmanship. Boring Brew showcases unique and intriguing artwork on its bags inspired by renowned NFT projects, including the famous Bored Ape Yacht Club, CryptoPunks, Sgt. Pepe World by renowned artist Ars0nic, and many more. These packaging are not just containers; they are collectible items, combining taste and aesthetics in every brew.

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🖼 Layer 2 and DeFi Shine in 2023 as NFTs Lose Their Luster: Nansen

Layer
2, bridging, and infrastructure sector is leading 2023 growth with 149.28% daily user surge. In 2023, the Ethereum blockchain witnessed intriguing transformations in the way users and entities engage. According to Nansen’s recent report, there has been a remarkable surge, with more than 300,000 daily active Ethereum addresses. Among these active addresses, DeFi entities have maintained their position as the dominant players. As of October 12th, 2023, DeFi users alone outnumbered NFT and layer 2 scaling users by more than twice, solidifying the sector’s central role in on-chain activities. In terms of new users, layer 2 activities have seen a notable uptick. Nansen’s report states that this indicates a shift towards scalability solutions, with new users increasingly embracing layer 2 platforms as their initial choice. The transition also aligns with a broader trend where the user counts for layer 2 and scaling have seen substantial growth, driven by the adoption of more efficient layer 2 infrastructure and the potential for airdrop farmers. A closer examination of entity interactions confirms these trends. While nearly all sectors have experienced growth in year-to-date incoming transaction counts, the ‘Layer 2, Bridging, and Infrastructure’ category has led the way with a remarkable 149.28% increase. NFT users surpassed DeFi users at times in 2022 before starting a sharp decline from the start of 2023. In fact, the daily user count in this sector has taken a plunge by over 50% since the beginning of the year.

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🔫 TRAI red flags concerns around Metaverse

The
telecom regular TRAI has red-flagged concerns around Metaverse, raising critical issues such as privacy, safety, and security which require greater deliberation. “Immersive platforms will also track facial expressions, vocal inflections, and vital signs, while intelligent algorithms use such data to predict each person’s real-time emotional state. Tracking will also include real-time monitoring of user gait and posture, assessing when users slow down to browse products or services. “Metaverse platforms will even monitor manual reach, assessing when users will grab objects (both real and virtual), and tracking how long they will hold the objects to investigate. This will be especially invasive in the augmented metaverse, in which user gaze, gait, and reach will be monitored in the real world; for example, while shopping in augmented physical stores,” it said in a consultation paper. Pushing for an appropriate regulatory framework, the regulator said that the challenges that we currently have in online applications, such as snooping, data breaches, harassment, and hate speech, are likely to be amplified going forward, with increased digitisation and online activities.

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🇦🇪 Widespread acclaim for Dubai Judicial Institute’s forward-thinking metaverse endeavours

The
Dubai Judicial Institute (DJI) successfully concluded its participation at GITEX Global 2023, which took place at the Dubai World Trade Centre from 16 to 20 October. The Institute’s stand garnered significant attention for its innovative services and initiatives, primarily focusing on its pioneering adoption of metaverse technologies in judicial training and development. In addition, numerous local and federal government officials visited the Institute’s stand, commending its remarkable advancements in judicial training methodologies. The Institute’s commitment to supporting judicial excellence and global competitiveness was evident, reaffirming its role as a pioneering institution offering a unique judicial development experience and disseminating legal knowledge within society. During the exhibition, the Dubai Judicial Institute received an honour from the Dubai Digital Authority in recognition of its vital contributions to enhancing Dubai’s competitiveness and reinforcing its position as the world’s foremost digital capital. This accolade was presented during a ceremony dedicated to recognising strategic partners from government entities. This ongoing commitment underscores the DJI’s dedication to providing distinctive and pioneering training opportunities and solutions that align with the evolving needs of the judiciary.

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🔫 Northlands College launches first in Saskatchewan Metaverse Campus

Northlands
College, which has physical campuses in La Ronge, Creighton, Air Ronge and Buffalo Narrows has added another one as it recently launched the Northlands College Metaverse Campus. Northlands is one of the few colleges in Canada to establish a full campus presence in the Metaverse. The college touted the achievement as a new era of transformational learning that helps them continue to push the boundaries of education and integration of technology across Northern Saskatchewan. Karsten Henriksen, the President and CEO of Northlands College, said the initiative is part of the college's Year of Transformation in 2023. “That Year of Transformation is really about where we are going as Northern Saskatchewan's post-secondary institution,” Henriksen said. “Northland College is demonstrating leadership on a national level and I think it's high time that northern residents are proud of the innovation that happens in northern and rural remote communities, not only in northern Saskatchewan but from coast to coast to coast.” “What we see in Northern Saskatchewan with the mining industry, the natural resources sector and really every aspect of our economy is the transition to a digital economy,” he said.

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📊 Metaverse in Finance Market to grow by USD 107.06 billion from 2022 to 2027

The "metaverse market in finance by components (hardware and software), end-user (brokerage firms, investment banks, commercial banks, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa) - Forecast and Analysis 2023-2027" report has been added to technavio offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The integration of VR and AR platforms is a key factor driving market growth. Banks are working on strategies for increasing their presence in the metaverse and providing customers with improved services when they spend more time there, in addition to offering payment platforms. Furthermore, participants can now track and visualize financial markets in more depth, owing to enhanced AR or mixed reality (MR)-based stock trading and investment. Hence, these factors are expected to drive market growth during the forecast period. Although enterprises and financial services organizations continue to upgrade their IT security systems, users of the metaverse have had a longstanding concern about data protection and safety.

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⬜️ OKX Advances Blockchain and Web3 Education with 'NFT For School, NFT For Good' Event for Hong Kong Students

OKX
, a leading global virtual asset exchange and Web3 technology company, hosted the 'NFT For School, NFT For Good' event in Hong Kong on 14 October. The event was organized in collaboration with NGO HandsOn HK and Yan Tak Catholic Primary School with the aim of offering local students a unique opportunity to learn about blockchain and Web3 technologies. Twenty students from primary five and six of Yan Tak Catholic Primary School attended the inaugural event. The event was the first of its kind in the city and included an interactive workshop for students to create their own artwork and NFTs. It also featured a lecture on digital literacy, focusing on blockchain, Web3 technologies and information ownership. During the four-hour session, primary school students used photography, AI and Web3 tools to create their own NFT collection under the theme of 'Our School in My Eyes.' OKX Global Chief Commercial Officer Lennix Lai said: "We're thrilled to see the enthusiasm of primary school students towards Web3 technology. As Hong Kong continues its quest to establish itself as an international Web3 hub, participation from our next generation is crucial and we look forward to hosting more events like this as part of our continued efforts in user education and promoting Web3 adoption."

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🔫 Metaverse in Fashion Market to grow by USD 6.61 billion from 2021 to 2026

The metaverse in fashion market by platform (computer, mobile, and headset) and geography (North America, APAC, Europe, South America, and Middle East and Africa) - Forecast and Analysis 2022-2026" report has been added to technavio offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the metaverse in fashion market between 2022 and 2026. The growing number of fashion brands entering the metaverse platform is a key factor driving market growth. The possibility of transforming an online shopping experience is possible using metaverse platforms. Fashion brands, especially clothing brands, largely depend on attractive branding and branding for sales. Clothing brands use the metaverse platform to enhance their reputation. For example, in April 2022, Nike and RTFKT jointly launched a virtual shoe called the RTFKT x Nike Dunk Genesis CRYPTOKICKS collection. Learn about additional key drivers, trends, and challenges available with Technavio. Read Free Sample PDF Report Now

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Metaverse gaming more about content creators than land speculation, says The Sandbox cofounder

The
high-flying days of metaverse land speculation might have come to an end, but according to The Sandbox co-founder Sébastien Borget, this hasn't slowed down the adoption of digital spaces by major brands and users in Asia and the Middle East. Interest in The Sandbox, which is a blockchain-based twist on the voxel gaming craze popularized by Minecraft, has shifted away from speculation and toward offering real gaming experiences. Meanwhile, data from The Block's data dashboard reveals that the price of digital land, which creators must possess to offer mini-games experiences, has remained stagnant. Since the start of the year, the seven-day moving average for land sale prices on Sandbox has consistently hovered between $500 and $1,000 per plot. This is a significant departure from the staggering price tags of over $15,000 per plot that were achievable in 2021. The summer experience provided players with the opportunity to win a year's supply of McNuggets and 100,000 SAND, Sandbox's native token. In some instances, Sandbox collaborates with these brands to offer experiences and attract players through revenue sharing.

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🖼 Wemade launches first-of-its-kind Real World Event NFTs at G-STAR 2023

NILE
, the NFT and DAO marketplace developed by leading Korean blockchain gaming company Wemade, will introduce first-of-its-kind Real World Event NFTs at the upcoming G-STAR 2023, the biggest gathering of gaming enthusiasts and fans from around the world. The event NFTs represent the latest milestone for NILE (shorthand for “NFT is Life Evolution) as it continues to focus on expanding the NFT ecosystem. Earlier this year, NILE successfully attracted users globally with the launch of the world’s first NEITH NFT. The G-STAR 2023 event ticket NFTs are dynamic in nature, vividly conveying the changes of NFTs in real-time during the event’s opening, closing, and entry. Significantly, the new event ticket NFTs will set a new record in the history of the Korean domestic game industry. To mark the occasion, Wemade will be giving away exclusive gifts and special items to G-STAR 2023 event ticket NFT holders at the event. Only 300 of the NFTs have been minted and are exclusively available through NILE, including 50 each on Day 1 and 2 and 100 each on Day 3 and 4. Ticket sales start at 12 noon local Korea time on Wednesday October 25, 2023, while stocks last. Wemade is returning as the main sponsor of G-STAR 2023, which will be the biggest ever with 3,250 booths, 10% higher than last year (2,947) and beating the previous record of 3,208 booths set in 2019.

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🖼 New Programmable NFTs Offer Code and Substance, Launch Collection Celebrates the World’s Food

Hitch
Interactive, the company connecting innovators and providing immersive experiences in AI, robotics, fintech, and the Metaverse, today announced the launch of its Hitch1999 platform for Web3, along with the first-ever programmable non-fungible tokens (NFTs)—capable of delivering code-driven content and experiences. Built to a new interactive standard called the Immutable Miniverse Format (IMF), the first limited edition collection of 1,000 NFTs is minted on the Ethereum blockchain. Each playful foodie hamster NFT in this “Yummy Hamo” collection is an original design encoded with a curated gourmet miniverse. The IMF embedding procedure immutably encodes and/or encrypts tailored messages, content, and interactive experiences on the NFTs, visualized as a string of dynamically changing secret code. Each NFT includes unique art like some traditional NFTs, but also an underlying miniverse that might contain an executable program, exclusive text and animation, an interactive game, or another application—even a foodie event with an encrypted, private recipe from a famous chef. The miniverse’s substance is self-contained in the NFT. The inaugural, limited edition Yummy Hamo collection, created by the designers at Hitch Interactive to be an interactive cookbook and cultural resource, celebrates 1,000 gourmet cuisines from around the world in 1,000 miniverses. The collection meticulously curates a compendium of dishes and experiences from nine diverse culinary cultures, plus a special category of culturally rich street food. The artwork contained in each NFT is digitally created to include a foodie hamster protagonist called Hamo.

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🔫 Metaverse Platform Utherverse Launches $1.235 Million Equity Crowdfunding Campaign

Utherverse, an immersive, interoperable and synchronous virtual universe platform designed to change how people interact, work and play, today launched a $1.235 million equity crowdfunding campaign with Republic, a global financial technology firm at the frontier of democratizing access to the private markets. The minimum investment is $100. Utherverse began accepting reservations for investment spots on Sept. 21 with more than $100,000 reserved by potential investors prior to the launch of the crowdfund. The company has been valued at $70 million and has brought in more than $77 million in revenue. "We are looking to consolidate all metaverse offerings across the entire Web3 space into a single, interoperable platform that can leverage the entire community to provide the best in education, entertainment, business, fashion, virtual real estate and other verticals," said Brian Shuster, Founder and President of Utherverse. "Our goal is to become that single platform upon which the next generation of the internet is built." Bonus perks for investors at various levels include getting on the whitelist for early beta access, VIP access to the platform, virtual real estate, UtherTokens and titles. This includes tools and technologies that will enable third parties to create and operate their own virtual worlds, creators to design digital assets and businesses to offer a wide range of products and services in a wide range of industries.

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🖼 Azuki NFT Collection Sees Phenomenal 47% Price Surge in Just One Month

In
the ever-evolving world of cryptocurrencies and non-fungible tokens (NFTs), one collection has been making waves, catching the eye of enthusiasts and investors alike. The Azuki NFT collection has recently experienced a remarkable 47% price surge over the past thirty days, skyrocketing from 3.7 ETH to 5.3 ETH. The Azuki collection, known for its distinctive anime-inspired art style, has now accumulated a staggering market cap exceeding $90 million. This substantial growth in value has placed each Azuki NFT at a current price of 5.3 ETH, equivalent to approximately $9,039. The Azuki NFT collection, introduced to the world in early 2022, comprises a remarkable array of 10,000 unique NFTs, all following the popular pfp (profile picture) format. These NFTs have become a favorite choice for crypto enthusiasts seeking to express their individuality and creativity. Azuki’s unique charm lies in its generative NFT avatars, each a work of art inspired by the anime aesthetic, boasting a distinctive and captivating style that has captured the hearts of many. The initial launch of Azuki took the NFT world by storm. All 8,700 available NFTs, offered through a Dutch auction, were sold for 1 ETH each. In a breathtaking frenzy of demand, these Azuki NFTs flew off the virtual shelves within a mere 4 minutes, leaving many admirers in awe of their beauty and rarity.

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🖼 Galaxis Says NFTs Are Maturing Towards ‘Genuine-Utility’, as 95% Of Digital Collectibles May Now Be Useless

CEO
and founder András Kristof believes as people become more educated about NFTs, the focus will be on utilities. The inventor of Tembusu Terminals (first Bitcoin ATMs) in Singapore says he’s spent the last two years building a post-hype utility NFT platform. Although, founder András Kristof is gratified to see people almost unknowingly engaging with digital collectibles worldwide amidst the ‘NFT winter’ of late. These significant developments shed light on members within the NFT industry ‘picking through the wreckage’. Over the course of 2021, beginning earnestly with the landmark Beeple sale, the NFT market was sky high, with around $1 billion a week – with average prices of NFTs above $3,000, despite the turbulent market. Like most other economic bubbles that eventually burst, the NFT bubble has done so in spectacular fashion with an NFT collapse of 95 percent. Although what triggered the crash is unclear, the fall in demand – catalysed by a slump in the cryptocurrency market has wiped out billions of the combined value of all NFTs in circulation. Kristof says the new breed of use cases is surfacing that take advantage of the particular properties of NFTs (such as Chainlink’s CCIP that allows people to move NFTs cross-chain), which is one of the core factors at Galaxis.

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🖼 Kaufland To Exchange NFTs For Shopping Vouchers

German
retailer Kaufland is offering a €10 shopping voucher to anyone interested in transferring unwanted NFTs to the retailer. Kaufland launched the 'NFT Refresh' online campaign at Fresh4trash.io, which will run until 30 October 2023. The certificates usually refer to a virtual object, for example a digital work of art. In the past few months, however, NFTs have lost significantly in value, which prompted the retailer to launch the campaign. Christoph Schneider, managing director of marketing at Kaufland Germany said, "The vast majority of NFTs that are on the blockchain are no longer worth anything today. It's not the only NFT-related initiative to be launched by a European retailer this year – in February, Italian hypermarket chain Bennet launched the Bennet NFT Club, the first customer loyalty project by an Italian retailer based on blockchain and NFT technology. This initiative provides three 'NFT by Bennet' collections, with a total of 2,700 different digital objects on offer, the basic design of which takes its cue from the new Bennet shopping bags created by IED-Istituto Europeo di Design. Elsewhere, retail cooperative Gruppo VéGé launched a NFT in January to celebrate the brand's inclusion in the special register of 'historic brands of national interest'. The NFT, entitled L'Italia faceva la spesa, Gruppo VéGé faceva la storia, was available in 99 copies on the industry benchmark OpenSea platform.

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🖼 Sharjah Digital Office launches 'Sharjah NFT' for digital certificates at GITEX Global 2023

Sheikh
Saud bin Sultan Al Qasimi, Director of Sharjah Digital Office, unveiled 'Sharjah NFT,' a pioneering initiative in the UAE that leverages NFT technology for government and private entities to issue verified digital certificates using soulbound tokens, efficiently storing and tracking documents using blockchain through a QR code. This marks a significant achievement in Sharjah's digital transformation journey and underlines its commitment to a sustainable future for all. The platform was inaugurated at the Sharjah Government Pavilion during GITEX Global 2023. It provides an innovative and user-friendly system enabling various entities, including government authorities, educational institutions, private businesses, and event organisers, to issue authenticated certificates as non-fungible codes stored in a digital record. The platform acts as a firewall; it is impervious to any form of tampering or fraud and ensures the authenticity and credibility of certificates through blockchain technology, guaranteeing their direct association with the legitimate recipient." He also stressed that this initiative aligns with Sharjah Digital Office's strategy to reinforce and expedite the digital transformation journey in the emirate, with a strong emphasis on making significant strides in the domain of smart living.

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🖼 Bybit Partners with MIBR for Unique NFT Collection Celebrating Esports Legacy

Bybit
, a prominent player in the global cryptocurrency exchange arena, has joined forces with Made in Brazil (MIBR) to introduce a distinctive NFT collection paying tribute to the esports team’s impressive two-decade journey. Set to be unveiled on October 24, this forward-thinking initiative seamlessly bridges the gap between the physical and digital realms. The ‘MIBR NFTs’ offer a premium selection of 12 jerseys that chronicle MIBR’s illustrious twenty-year history. Available on Bybit’s user-friendly platform, the collectible MIBR jerseys are offered in various levels of rarity. The ‘Standard Editions’ are limited to 250 prints each, while the ‘Ultra-Rare’ versions are a truly exclusive find, with only 5 copies in existence. Impressively, 6 of these virtual assets will be made available at no cost to the fortunate few. For dedicated collectors who manage to acquire the entire set of Bybit MIBR NFTs, a unique, personalized, autographed MIBR jersey awaits as a prized reward. Fans who amass 11 NFTs will receive a one-of-a-kind acknowledgment in the form of a shoutout from their cherished MIBR player. Furthermore, those who own between 7 and 10 jerseys can revel in exclusive MIBR store discounts and a substantial $BRZ bonus on Bybit.

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🔫 Ashoka global DMCC ventures into the metaverse through Partynite

Aumverse
FZCO, a Dubai based Joint Venture Company between Ashoka Global DMCC and Createrse FZCO, announce its collaboration with PartyNite to join the world of the metaverse which will be called GoldVerse. This partnership marks a step towards bringing together the gold jewellery dealers of the MENA region under one roof creating a experience for traders and consumers alike. Leading brands of Indian origin will also mark their presence on GoldVerse. The GoldVerse is set to revolutionize the way gold enthusiasts interact with the metal. It promises to offer an blend of virtual reality and live commerce, enabling real-time transactions within the metaverse. Users will have the opportunity not only to view but also create a diverse range of gold jewellery designs but also to try them on and make purchases. These purchases will have logistical backing as each jewellery brand within the GoldVerse will establish its own delivery mechanism, while the backend processes will be managed by Partynite. The phygital arrangement of association enables buyers from around the world to enter this parallel gold souk that the Middle East has been showcasing to the world and make actual purchases that will be delivered.

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🖼 Singapore court authorizes freeze order attached to wallets as soulbound NFT

The
Singapore High Court has allowed financial investigation firm Intelligent Sanctuary (iSanctuary) to attach nonfungible tokens (NFTs) containing a legal document to cold wallets associated with a hack, according to United Kingdom-based iSanctuary and local press accounts. A court-issued worldwide freeze order was tokenized as soulbound NFTs and attached to the wallets in question. The NFTs will not prevent transactions with the wallets but will serve as a warning to counterparties and exchanges. In addition, iSanctuary claimed it has devised a means of tracking funds leaving the wallets, thanks to the NFTs. The NFTs will be permanently attached to the wallets. No additional details were provided. iSanctuary named Mintology, an app created by Singaporean NFT studio Mintable, as the producer of the NFTs. That was indirectly confirmed by Mintable founder Zach Burks in a posting on X (formerly Twitter). The Straits Times reported on Oct. 17 that the case was related to a stolen private key and that Singapore-based crypto exchanges were involved in laundering the funds from the hack by fraudsters “purported to be from Singapore.” It added that the case “spans countries from Singapore to Spain, Ireland, Britain and other European countries.”

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📣 Indian Jewellery brands to hop onto Partynite Metaverse forming a parallel Gold Souk called GoldVerse

Aumverse
FZCO, a Dubai based Joint Venture Company between Ashoka Global DMCC (a prominent International Bullion House and leading gold trading entity) and Createrse FZCO (a Dubai-based pioneer in Metaverse sectoral play), is proud to announce its collaboration with PartyNite to join the exciting world of the metaverse which will be called GoldVerse. This strategic partnership marks a significant step towards bringing together the gold jewellery dealers of the MENA region. Leading brands of Indian origin will also mark their presence on GoldVerse. This collaboration also marks the commencement of PartyNite's worldwide expansion, unveiling the metaverse in all its splendour, enhanced by the immersive technologies of both AR and VR. The GoldVerse is set to revolutionize the way gold enthusiasts interact with the precious metal. It promises to offer an innovative blend of virtual reality and live commerce, enabling real-time transactions within the metaverse. Users will have the opportunity not only to view but also create a diverse range of gold jewellery designs but also to try them on and make purchases seamlessly. These purchases will have strong logistical backing as each jewellery brand within the GoldVerse.

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📊 Metaverse in FMCG Market to grow by USD 2.11 billion from 2021 to 2026

The "metaverse in FMCG market by platform (computer, mobile, and headset), and Geography (North America, Europe, APAC, Middle East and Africa, and South America) - Forecast and Analysis 2022-2026" report has been added to technavio offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the metaverse in FMCG market between 2022 and 2026. The growing number of FMCG brands entering the metaverse platform is a key factor driving market growth. FMCG brands, especially beverage brands, are largely dependent on attractive labels and branding for sales. The Coca-Cola Company, AnheuserBusch Companies, LLC., and PepsiCo are some of the biggest brands in the world showing interest in the metaverse market. To improve brand awareness, alcohol brands are making use of the Multiverse Platforms. For example, the launch of Coca-Cola Zero Sugar Byte by The Coke Company in April 2022, a new Virtual Drink on the Metaverse Platform. Hence, these factors are expected to drive market growth during the forecast period.

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🖼 Yuga Labs CEO Is Learning Making NFT Games Is Hard

Daniel
Alegre, CEO of Bored Ape Yacht Club creator Yuga Labs, published a lengthy essay on Twitter (aka X) late Tuesday evening, part of which details the company’s challenges and shortcomings with game development—including for its upcoming metaverse game Otherside. “While Dookey Dash was a fun game and experience, we have fallen well short of expectations with Forge,” Alegre wrote, referring to the startup’s HV-MTL Forge game. HV-MTL Forge is a social building and mech management game where players must complete tasks. Yuga Labs has similarly acknowledged the technical issues with its latest game experience, Legends of the Mara (LotM), as it faced server issues and outages for maintenance in recent weeks. “The lessons that we are actively learning are that we need to rely on seasoned gaming partners to help build our experiences,” Alegre said. The very long Twitter post detailed Alegre’s observations about each of the crypto firm’s different NFT collections and initiatives over the past six months, which ranges from its Bitcoin Ordinals “TwelveFold” NFT collection launch to the “strained” relationship Alegre noticed between owners of the CryptoPunks NFTs and Bored Ape NFTs when he joined the company in December 2022.

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