METAVERSE
The metaverse refers to a virtual universe or digital realm where people can interact with each other and the environment in real time, typically through virtual reality (VR), augmented reality (AR), or a combination of both. It is an immersive and interconnected space that leverages blockchain technology and other innovative technologies to create a decentralized and secure environment. In the metaverse, a shared value is created between the virtual space and the real world, and it allows for the establishment of new monetary and financial systems based on blockchain technology. This enables the secure management and verification of digital assets, identities, and transactions within the metaverse. By integrating blockchain, the metaverse provides transparency, trust, and the potential for the development of unique economic ecosystems and digital economies. The metaverse is often envisioned as a vast and evolving network of interconnected virtual worlds, applications, and experiences that can be accessed and experienced by individuals through various devices and platforms.
Citi Sees the Metaverse to Reach $8 Trillion to $13 Trillion by 2030
Citi expects the metaverse to be worth between $8 trillion and $13 trillion by 2030, given that the exponential growth of NFTs has brought it to the limelight.
BTC, ETH Gain Ground & The Top 5 Metaverse Movers to Watch
After the short bearish trend amid the Russia-Ukraine tensions, the crypto market has started to gain ground again. Bitcoin and Ethereum rose by about 1% and 5% respectively during the last week. Many other cryptocurrencies have followed. The popularity and market capitalization of the Metaverse tokens also continues to grow.
Krafton Partners with Solana Labs to Develop blockchain-based Games
Game developer for PC and mobile devices Krafton partners with Solana Labs to develop blockchain-based games and services in the Metaverse world.
Binance Invests another $5m in Metaverse Startup Ultiverse
Binance is putting in a fresh $5 million investment in metaverse gaming startup Ultiverse, after leading a $4.5 million seed investment a week earlier for the firm.
Cypher Capital Rolls Out Worth $100m Blockchain and Digital Assets Fund
To expand the blockchain ecosystem, UAE-based venture capital firm Cypher Capital has launched a $100 million seed fund with a special interest in digital asset investments.
Qualcomm Announces $100m Metaverse Investment Fund
Qualcomm's fund will go to companies building the metaverse using augmented reality, mixed reality or virtual reality.
Samsung Plans to Develop Top-Notch Metaverse Devices to Foster Accessibility
Samsung Electronics has revealed plans to make the metaverse more accessible by developing innovative devices as it sees it as a new business model.
HSBC Enters Metaverse Space through Collaboration with the Sandbox
HSBC is leaping into the metaverse to engage with customers, increase sales, widen its social media reach, and demonstrate its relevance.
McLaren Enters the Metaverse through InfiniteWorld
McLaren Automotive, a British automotive manufacturer, has entered the metaverse by giving customers a new level of experience where they can mint and sell NFTs.
American Express Weighs Entry into Metaverse and NFTs Business, Trade Filing Shows
American Express could get into the field of metaverse and NFTs, which have become a key value driver within the financial industry.