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.
At CES 2023, Touch And Scent Dominate The Metaverse
At CES 2023, metaverse-focused startups showed VR with scent. OVR Technology exhibited a headgear with eight odors that can be blended to create different fragrances. The metaverse might be worth $5 trillion by 2030, according to McKinsey & Company.
Three Metaverse Reference Rates From CME Group
CME Group and CF Benchmarks will launch reference rates for Axie Infinity Shards AXS, Chiliz (CHZ), and Decentraland's MANA. Sector-specific portfolios may be priced using reference rates and indices. CME Group introduced Bitcoin and Ether options last year.
Huawei Research Indicates Metaverse Infrastructure Isn't Ready
Abhinav Purohit, Huawei Middle East's Chief Business & Strategy Consulting Expert, made the remarks. A metaverse is a shared virtual realm that lets remote users have realistic, spatially aware experiences. As of August 2022, GSA data shows 501 operators in 153 countries and territories investing on 5G.
Affyn Unveils Singapore As First NEXUS World Metaverse City
In addition to its ongoing Flag sale, Affyn is advancing its NEXUS World metaverse, revealing Singapore as the inaugural metaverse city of Affyn’s NEXUS World. The first metaverse city features 2,000 plots of Freehold Land NFTs, with many more cities to be unveiled in the coming months.
Chinese corporations offer metaverse World Cup viewings, X2Y2 backtracks on royalties, and more.
China-based technology companies are reportedly working on tech that would give Chinese soccer fans the ability to watch the FIFA World Cup within the metaverse. Video streaming platform Migu is one of six Chinese firms that has secured the rights to show the World Cup. The efforts are part of a five-year plan released by the Chinese government in early November to boost the local virtual reality industry.
Meta Cuts 11,000 Jobs to Focus on Core Areas Including the Metaverse
Meta Platforms has cut 11,000 jobs but is still committed to its metaverse pursuits
Open Metaverse Alliance Starts Operations, Challenges Meta On the Future of Internet
OMA3 has established working groups to start developing standards between metaverse platforms
FTX CEO Breaks Down Zuckerberg's Intent To Invest $10B/Year Into Meta
FTX CEO Sam Bankman-Fried on Saturday took to Twitter to break down the reason behind Zuckerberg rebranding his company Facebook to Meta and his intent to pump $10 billion every year into Meta.
Visa Files Trademark Applications for Crypto Products, Including NFTs
Payment giant Visa has filed two trademark applications to the United States Patent and Trademark Office (USPTO) concerning cryptocurrency wallets, NFTs, and the Metaverse.
Global Automotive Metaverse Market to Have a CAGR of 31.4% by 2030 - Research
A new survey is projecting the market value of the global automotive market at $1.9B by 2030