The metaverse is thriving in Asia, with Hong Kong, Korea, and Japan being the top markets, according to Sebastien Borget, co-founder of The Sandbox; he also highlights the introduction of dynamic NFTs and Apple's Augmented Reality Vision Pro headset as major advancements for the industry.
Google will allow games featuring nonfungible tokens (NFTs) to advertise on its platform, a developer stole $1 million from the Milady NFT collection, CNA Insurance excludes NFT coverage from a $20-million policy, the metaverse is popular in Asian markets, and Binance ends support for Polygon-based NFTs.
Meta Platforms (META) has leveraged the metaverse and the AI boom to secure a spot on the IBD 50 and IBD Leaderboard, joining other AI companies like Nvidia, Microsoft, Alphabet, and Amazon.com. Meta Platforms has released Code Llama, a large language model aimed at innovating in generative AI and making workflows faster for developers, further solidifying its partnership with Microsoft.
South Korean game studio Krafton has announced its upcoming NFT-driven metaverse game, Overdare, which will allow users to create and play their own shooter games and RPGs, and will feature a "create-to-earn" game economy where players can buy and sell in-game assets as NFTs.
Crypto gaming and metaverse investment company Animoca Brands plans to launch a metaverse ecosystem token on Bitcoin through its subsidiary Darewise Entertainment, aiming to create a comprehensive metaverse ecosystem centered around Bitcoin Ordinals, a protocol that allows users to inscribe NFT-like assets to the blockchain and create BRC-20 tokens on Bitcoin. The project will include gaming, brand integrations, real-world experiences, and more, with Life Beyond Studios' upcoming metaverse game being the first to implement the Bitcoin-based metaverse token for in-game assets and virtual lands.
Meta Platforms (META) is set to detail its metaverse and artificial intelligence efforts at its Connect conference, with analysts expecting a positive impact on the stock as it forms a cup-with-handle base and offers an early entry point above its September 20 high of 308.06.
Meta Platforms (META) stock has a strong setup, with two buy points in reach, ahead of this week's Connect conference where the parent company of Facebook and Instagram is set to unveil its new virtual-reality headset, generative AI tools, and more.
Minecraft's Bitcoin-friendly server, Satlantis, has been asked by Mojang to remove its play-to-earn features, disappointing the server's community, but the team is exploring alternative platforms; Co-founder of blockchain-based gaming hub Ultra Arena, Nicolas Gilot, believes that blockchain can improve the profitability of eSports by involving more stakeholders and streamlining processes; The recently launched Apple iPhone 15 Pro offers enhanced gaming capabilities, including native support for demanding game titles and hardware-accelerated ray tracing; Formula is returning to the Web3 gaming space with Formula E: High Voltage, a new game focusing on the Formula E motorsport championship; Trading card game Gods Unchained has introduced a new permanent game mode called Sealed Mode, where players build decks from a randomized pool of cards to compete against each other.
Meta Platforms, Inc. (NASDAQ:META) is expected to benefit from the AI wave and the personal AI assistant category, presenting a potentially large market opportunity for the company through advertising or subscriptions. Despite the continued spending on the Metaverse and the potential for AR/VR devices to be sold at a loss, Meta remains cheap compared to other tech giants, and the stock is poised for growth.
The Microsoft deal to acquire Activision Blizzard may have more potential for the future of cryptocurrency than the metaverse, despite initial emphasis on the metaverse in Microsoft's announcement, as leaked documents suggest plans to integrate crypto wallets into Xbox.
The Open Metaverse Alliance for Web3 (OMA3) has formed a working group, including prominent crypto brands such as Yuga Labs and Magic Eden, to establish standards and ensure the survival of creator royalties on NFT marketplaces, in response to the threat posed by the elimination of creator fees by certain platforms and the prioritization of short-term financial interests over long-term online well-being.
