Metaverse
Audius Acquires Virtual Music Experience Platform SoundStage.fm
Blockchain-powered streaming platform Audius has acquired Soundstage.fm, expanding the company’s efforts in the virtual concert space. Audius, the leading decentralized music community and discovery platform, will now provide interactive music metaverse experiences for fans as well as new monetization opportunities for artists. “At Audius, we are always excited to expand the ways that artists can interact with their most passionate fans,” said the company’s CEO and co-founder, Roneil Rumburg. “SoundStage.fm has built one of the most compelling environments for artists and their fans to meet virtually and is a natural extension of what the Audius community is building. We’re excited for the artists that love Audius to connect with their fans in t...
The Metaverse Problem
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Tech talent migrates to Web3 as large companies face layoffs
As inflation continues to grow, coupled with a looming recession, many tech firms are having to cut portions of their staff. To put this in perspective, data from Layoffs.fyi found that over 700 tech startups have experienced layoffs this year, impacting at least 93,519 employees globally. It has also been reported that tech giants like Google, Netflix and Apple are undergoing massive job cuts. While many of these layoffs are likely due to an economic downturn, this has resulted in an overwhelming amount of talent flocking to early-stage Web3 companies. For example, Andrew Masanto, a serial entrepreneur who has founded a number of startups, told Cointelegraph that he recently launched Nillion, a startup specializing in decentralized computation, to help ensure privacy and confidentia...
Crypto Biz: Is Zuckerberg’s $100B metaverse experiment doomed to fail?
Not everyone is convinced that Mark Zuckerberg’s massive metaverse experiment is a good idea. Since Facebook rebranded to Meta in 2021, the social media giant’s focus has increasingly shifted to connecting the digital and physical worlds through augmented reality. However, a shareholder of the company recently issued a letter to the CEO calling the metaverse investment “super-sized and terrifying.” It didn’t take long for those concerns to be justified. Meta published its third-quarter financial results after the bell on Oct. 26 and, perhaps unsurprisingly, its metaverse division underperformed. Meta’s Reality Labs lost a whopping $3.672 billion during the quarter, mirroring a similar decline in Q1. That’s the risk you run when you venture into unchartered territory. For all the hype surro...
Metaverse schooling to help Japanese city combat growing absenteeism
The Japanese city of Toda, Saitama, adopted a metaverse-schooling service to encourage students — especially those staying far away from school — to attend their classes. The metaverse schooling service opted for by the city of Toda allows students to explore the campus and study in virtual classrooms. However, the students must get approval from respective school principals for attendance via metaverse schooling, confirms local media NHK. Government data showed that 244,940 Japanese elementary and junior high school students were absent for at least 30 days in FY 2021. NHK’s report highlighted a fifth grader’s interest in chatting online instead of attending school in person. While the child has not physically attended school in over two years, they shared an interest in...
David Guetta and MORTEN Team Up With Web3 Company to Develop “Future Rave” Metaverse
The future rave movement is formally planting its stake in the music industry’s next digital frontier. The genre’s foremost faces, David Guetta and MORTEN, recently formalized their new Future Rave record label before dropping its inaugural single, “Element.” As it turns out, the duo had even more up their sleeves when it comes to world-building around their collaborative endeavors. Crypto Blockchain Industries (CBI) has announced that Guetta and MORTEN will be teaming up with the Parisian Web3 company to bring the future rave genre to the metaverse. The forthcoming experience will become a part of CBI’s AlphaVerse, according to a press release. Scroll to Continue Recommended Articles In just a few short years, the future rave genre has blossomed from hum...
Ecosystem is bullish on the metaverse, no matter what the numbers imply
An initial interpretation of DappRadar numbers on Oct. 11 reported extremely low engagement numbers for Decentraland, one of Web3’s most-hyped metaverses. The numbers shocked the community, as the platform has a current market evaluation of $1.2 billion. Shortly after the initial report broke, both DappRadar and Decentraland verified that the published number of less than 40 unique active wallets (UAW) was not an accurate representation of activity on the network. According to DappRadar’s tracker at the time of writing, UAW is just over 600. A DappRadar report following the incident revealed that blockchain games and metaverse projects raised a cumulative $1.3 billion in the third fiscal quarter. However, if user engagement is low, what keeps investors coming back for more of the meta...
NFT project Azuki launches Physical Backed Token
Anime-inspired nonfungible token (NFT) project Azuki has released a Physical Backed Token (PBT) — an open-source token standard that ties a physical item to a digital token on the Ethereum blockchain. Azuki shared on its Twitter account that the first implementation of the PBT will use the BEAN Chip; a physical cryptographic chip that self-generates an asymmetric key pair. The combination of the PBT and the BEAN Chip introduces a feature, which the project is calling “scan to own”. Introducing the Physical Backed Token (PBT): an open source token standard tying a physical item to a digital token on the Ethereum blockchain. pic.twitter.com/iXavmJR5xv — Azuki (@AzukiOfficial) October 17, 2022 According to the information shared by the Azuki team: “Scanning the chip with your phone all...
Food companies secure trademarks to enter metaverse
A number of food companies have recently begun to position themselves within the Web3 ecosystem by filing trademark applications for the Metaverse and nonfungible tokens (NFTs). Licensed trademark attorney Mike Kondoudis shared in a tweet that Kraft Foods Group had filed a trademark for its iconic hot dog-shaped Weinermobile on Oct. 12. The filing revealed that the brand plans to expand into NFTs, digital tokens, virtual goods, NFT marketplaces, virtual food, drink and restaurants. Kraft has applied to trademark the iconic Weinermobile! The October 12 filing claims plans for:NFTs + Digital TokensNFT MarketplacesVirtual Foods + Drinks + RestaurantsOnline Stores for NFTs + Virtual Goods#NFT #NFTs #Metaverse #Web3 #Oscarmayer #Wienermobile pic.twitter.com/u5At9xxMIw — Mike Kondoudi...
Facebook is on a quest to destroy the Metaverse and Web3
The future of how we socialize online is being defined as we speak, and it’s far too important to leave things to the likes of Meta and other mega social companies. Just a surface-level look at Meta’s history is enough to understand its tendency to severely miss the mark. Some companies like to use Web3 principles to right the wrongs of Web2. And as a poster child for large, centralized organizations, Meta offers us some of the most useful examples of those wrongs. Let’s touch on three times that Meta fell short of building the future of online social experiences. It limited Open Graph In 2010, Meta — still operating as Facebook at the time — released its “Open Graph” protocol, providing developers with a network of links between friends in order to encourage other people to take up ...
Walmart CTO says crypto will become a ‘major’ payments disruptor
Walmart’s global chief technology officer (CTO) Suresh Kumar has tipped cryptocurrency to become a “major” area of disruption, particularly in how customers pay for virtual and physical goods in the future. Speaking at the Yahoo Finance All Markets Summit on Oct. 17, Kumar outlined Walmart’s positive stance on digital assets, noting that “crypto will become an important part of how customers transact” for both physical and virtual goods. “I think that there are three major areas of disruption. Crypto falls in sort of the middle of it,” he said, explaining that “the way in which customers are getting inspired and discovering products” is changing. Kumar also suggested that a significant amount of customers will be marketed to through the Metaverse and live streams on socia...
NFT games are ‘only scratching the surface’ of what’s possible — Animoca’s Yat Siu
Animoca Brands co-founder Yat Siu believes nonfungible token (NFT) games are only scratching the surface of what’s possible and predicts completely new models of gaming will be developed as a result of digital ownership. Speaking to Cointelegraph, Siu likened the potential growth of NFT gaming to mobile phone gaming, which started out relatively niche and clunky in its formative stages before rocketing to become the most popular method of gaming across the globe. “Mobile gaming brought a form factor of a type of game that we’ve never seen before, you know, one-hand play and that kind of stuff, and innovations around how you play with AI [artificial intelligence]. Because of the fact that you have this limited form factor, it became the most popular form factor in gaming,” he said. Si...
