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2022-10-01 18:05:01 China’s Local Governments Are Spending Millions on the Metaverse

Local authorities across China are rolling out a series of subsidies and initiatives to attract metaverse-related businesses and talent, betting on the prospects of the emerging trend creating a global buzz. The metaverse refers to an immersive digital world with a combination of virtual reality, augmented reality, and the mobile internet.

At least six provincial governments as well as local authorities in 10 cities — including Beijing, Shanghai, and Chongqing — have issued either development plans with a focus on the metaverse or specific supportive measures for people working in the field, public records showed. For example, Guangzhou, Hangzhou, and Wuhan, along with the eastern Shandong province, plan to provide subsidies ranging from 2 million yuan to 200 million yuan for metaverse research platforms.

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2022-09-30 09:19:02 Defying Bear Market Trends, CryptoPunk 2924 Sells for $4.5 Million in ETH

It’s the fourth-highest price for a CryptoPunk NFT and quite a morale booster at a time when NFT sales have hit the bottom. While industry data suggest a steep decline in NFT sales, there are quite a few individual ones that indicate the interest in such assets is shifting away from volume to value. CryptoPunk NFT #2924 went for a whopping 3,300 ETH.

Sold by pseudonymous NFT collector speedphrase, this is one of the highest prices since February 2022 when Punk #8522 was bought for 8,000 ETH, equivalent to $24 million at that time, the highest so far for a punk. In March 2022, Yuga Labs, the creator of Bored Apes Yacht Club (BYAC) and Mutant Apes Yacht Club (MAYC) NFT collections, bought the intellectual properties of CryptoPunks from Larva Labs. As a consequence, the floor price of Bored Ape Yacht Club NFTs recorded a whopping 25% rise in the 24 hours since the announcement on March 12.

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2022-09-30 08:12:02 Leading cannabis testing facility in the U.S. hops on the metaverse train

One of the companies hopping on the metaverse train is ACS Laboratory, the largest hemp and cannabis testing facility in the eastern United States, which is planning to enter the metaverse in Decentraland (MANA), the company said in a press release shared with Finbold on September 28.

In the lab, visitors will be able to learn what is included in creating unique cannabis strains. In contrast, the Cannabis Quest will offer activities such as pop quizzes and winning virtual prizes. According to the company, other activities will include “treasure hunts, influencer podcasts, live-streaming music events, health and wellness company interactions, and digital brand activations.”

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2022-09-29 21:13:02 Christie’s Goes Fully On-Chain With New Ethereum NFT Marketplace

Christie’s has already made a big splash in the NFT space, most notably auctioning Beeple’s "Everydays: The First 5,000 Days" artwork for $69.3 million in March 2021. The storied auction house is now fully embracing Web3’s decentralized ethos by launching a new marketplace.

The new Christie’s platform was created in collaboration with Manifold, a startup focused on smart contracts, or the code that powers NFTs and other decentralized apps. Christie’s has also partnered with blockchain analytics firm Chainalysis and metaverse platform Spatial to enable additional functionality for its marketplace. Christie’s 3.0 reshapes that approach with on-chain transactions more akin.

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2022-09-29 15:08:02 1 MORE DAY TO @AffynOfficial BIG UNVEILS!!! This is one of the most severely undervalued projects that I believe will become the Number 1 blockchain Metaverse in the entire industry.

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2022-09-29 06:13:02 Someone Borrowed $1.3M in Ethereum Using Mutant Ape NFTs as Collateral

DeFi lending was already big business, but a quickly growing niche is borrowing against valuable NFTs and using them as collateral for loans. Fragment, the holder of a pair of Mutant Ape Yacht Club NFTs, borrowed 1,000 ETH—around $1.3 million—using the star-studded JPEGs as collateral today.

Prices have stabilized some, and volatility has dropped, so lenders seem more willing to underwrite larger loans,” Frank explained. “At the same time, the mega mutants are incredibly rare assets. The lenders on the other end of Fragment's Mutant Ape loan are Nexo and Meta4 NFT Lending. According to Arcade, the loan repayment terms are 1,044 ETH in 90 days at an 18% APY.

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2022-09-28 20:41:02 South Korea’s industrial city to reinvent itself in the metaverse

Changwon, a South Korean coastal city on the southeast end of the peninsula, plans to recreate its industrial complex in the metaverse in an effort to promote the businesses and products. Changwon’s metaverse industrial complex will also be used to test out and predict future advancements in technology and environment.

The mid-sized industrial city with a population of a little over a million boasts 2,871 businesses as tenants in the industrial complex, which in total employs 122,625 people, according to the city’s official website. The city will spend 13 billion Korean won (about US$9.07 million) to build the industrial complex in the metaverse under the supervision of the Korea Land and Geospatial Informatix Corporation, which is under the Ministry of Land, Infrastructure and Transport. Changwon’s metaverse project isn’t the first major case in South Korea.

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2022-09-26 22:14:02 Neal Stephenson’s Lamina1 drops white paper on building the open metaverse

Neal Stephenson‘s Lamina1 blockchain technology startup dropped a white paper today on building the open metaverse. It’s quite the manifesto. In the document, the company said its mission is to deliver a Layer 1 blockchain, interoperating tools and decentralized services optimized for the open metaverse.

The effort includes some new original content: Under active early-stage development, Neal Stephenson’s THEEE METAVERSE promises a richly-imagined interactive virtual world with an unforgettable origin story, the paper said. Built on the Lamina1 chain, creators will come to experience Neal’s vision and stay to develop their own. Stay tuned for more details, the paper said. Lamina1 said the metaverse represents the evolution of our lives online –– graduation to rich 2D and 3D worlds in which we fluidly create, explore, socialize and transact.

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2022-09-26 15:14:02 disguise Launches Metaverse Labs for End-to-End Metaverse Experience Enablement

disguise announces the launch of its Metaverse Labs – a global network of creative and technical labs filled with experts that will empower brands, creatives and technologists that want to deliver experiences in the metaverse. As part of disguise’s Metaverse Solutions division.

Its established partnerships with metaverse and virtual production experts Zerospace, Nowhere, Improbable, Film Soho, Super Bonfire, XR Studios, All of it Now, Zoan, Boum and Shape will give rise to new proof of concepts and new workflows. With this, disguise Metaverse Labs aims to democratize and share insight, develop the skills and talent for tomorrow as well as advise, consult and create future-facing experiences so creatives have everything they need to bring their next big idea to life.

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2022-09-25 22:01:54 Asian fashion brand set to sell clothing on Color Star's metaverse

US’ entertainment technology company Color Star Technology Co Ltd has announced that Asian fashion brand Unbounded Human will officially begin selling its clothing on its ColorWorld Metaverse platform. Color World is a metaverse platform featuring artificial intelligence and celebrity entertainment.

Focused on the oriental style, Unbounded Human not only aspires to expand globally but also has its eyes on the future developments of Color World. The fashion brand will become the first of its kind on the platform. As the brand continues to mature, its focus is now on the metaverse commerce era. To businesses, this means that Color World will bring its own traffic to them. Meanwhile, Color World will assist by promoting brands on the platform and by creating a big space in the market for brands and enterprises.

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