Home Blog Page 5

Financial Companies joined the Metaverse Race

In the era of digital transformation, traditional financial institutions are not only adapting but also innovating to stay relevant. This article explores how global entities like HSBC, JPMorgan, and others are venturing into the burgeoning metaverse – a virtual reality space where users can interact with a computer-generated environment and other users.

These companies have announced partnerships and plans to engage with their customers in unique ways, from hosting events in virtual stadiums to launching virtual versions of real-world locations. Additionally, crypto companies are also joining the race, leveraging the metaverse to enrich user experiences and expand their digital presence.

HSBC

HSBC announced a partnership with The Sandbox, in which the financial institution will have a stadium that will be used for engaging with sports, esports and gaming fans.

Furthermore, the bank plans to bring the World Rugby Sevens Series into its metaverse experiment, as the bank is the official sponsor of the event.

JPMorgan

JPMorgan has also joined the metaverse race but decided to open a lounge in Decentraland, the other top player in the metaverse sector.

The bank launched its blockchain unit, Onyx, which offers institutions and businesses an opportunity to enter the metaverse. JPMorgan’s lounge is located in the Metaiuku District, a virtual version of Tokyo’s Harajuku shopping district, where users can watch experts talk about the crypto and finance markets.

Corporate Marketing in the Metaverse

Launching metaverse-related initiatives in the financial sector has grown around the world, with institutions in other regions, such as Asia and Latin America, also entering this race.

The Industrial Bank of Korea (IBK) announced its plan to launch a virtual realm on the social media platform Cyworld Z, one of the most popular social media platforms in South Korea. The Company aims to set up an IBK Dotori Bank in the metaverse, which will launch financial products tailored for Cyworld Z (IBK’s platform) users.

NH NongHyup Bank also announced the launch of “NH Dokdo-verse,” a metaverse replica of Dokdo Island, a beautiful destination that is difficult to travel to in real life. It’s expected that users will be able to interact with one another by playing fishing games and buying land. This move came after the active promotion of the real island by the bank.

Interbank: In December 2022, the company was the first Peruvian bank to enter the metaverse. The company’s headquarters (the Interbank Tower), which is located on an important highway in Lima, arrived in Decentraland. The bank plans to engage more closely with its customers, expand its digital presence and interact with the bank’s content.

Crypto companies in the metaverse “race”

The metaverse race has also attracted the interest of different crypto companies trying to build their presence in this virtual realm with partnership announcements with leading The Sandbox, Decentraland or Bloktopia. The moves were an attempt to bring users to their virtual spaces and enrich their experiences. 

Binance: One of the leading crypto companies acquired 4,012 LAND NFTs in The Sandbox world. A total of 1,859 land plots adjacent to Binance’s estates were sold to Binance users. The further development and use cases of the acquired land are still unknown.

Kraken: The U.S. exchange has partnered with Decentraland, with the company hosting virtual events, such as a Metaverse Music Festival. The event, which started in 2021, is a collaborative music festival that features over 500 artists in different virtual realms and stages in Decentraland. Although the event is open to the public, Kraken sends early-bird invitations to its user base, which can interact, listen to the lineups and collect NFT wearables.

Other companies: KuCoin, CoinMarketCap, Cointelegraph, and blockchain projects such as Solana, Chilliz, Chainlink and Polygon have partnered with Bloktopia, a Polygon-based metaverse. In those spaces, the companies and protocols are tenants of the virtual space, with some of them utilizing it as a virtual office or as a virtual branch of the company.

In summary, the financial sector is actively embracing the metaverse as a new frontier for customer engagement and marketing. Whether it’s HSBC’s stadium in The Sandbox or JPMorgan’s lounge in Decentraland, these initiatives demonstrate the sector’s commitment to innovation and customer-centricity. Moreover, the involvement of crypto companies like Binance and Kraken further validates the potential of the metaverse. As more institutions continue to explore this virtual realm, we can anticipate a paradigm shift in how businesses and customers interact, offering exciting opportunities and challenges alike. The future of finance, it seems, is not just digital, but also virtual.

Fashion in the Metaverse

In an era where technology permeates every aspect of our lives, leading brands like Adidas, Gucci, and Nike are exploring new territories in the digital realm. The concept of Web3 and the metaverse has piqued the interest of these global giants, prompting them to venture into this uncharted territory. Nike, a pioneer in its field, has already established a strong presence in the metaverse, while Adidas and Gucci are not far behind. With their respective strategies, these brands are redefining the intersection of fashion, technology, and customer engagement.

Nike has been particularly enthusiastic about the possibilities that the metaverse offers, filing patents for virtual apparel and footwear, and even launching a Roblox-based universe called Nikeland. Adidas, on the other hand, has collaborated with Bored Ape Yacht Club (BAYC) for its first NFT collection, “Into the Metaverse,” and has acquired virtual land in The Sandbox metaverse. Gucci, a luxury fashion brand known for its innovation, has opened “Gucci Town” in Roblox and established partnerships with Zepeto and Superplastic.

Nike

Nike has been really supportive and enthusiastic about Web3 and the metaverse. Apart from filing several patents regarding plans of selling virtual apparel and footwear, Nike has already established a strong presence in the metaverse by: 

  • Launching a Roblox-based universe called Nikeland intended to be a free immersive sports space where users can interact with one another and participate in free sporting events. The company launched this initiative in November 2021 with the intention to help users turn sports and gaming into a lifestyle. So far, it has received 7 million visits. In this world,  buildings, fields and courts are inspired by the Nike headquarters and are also equipped with detailed scenarios where the skills of Roblox users are put to the test in mini-games. Furthermore, it’s expected that users will be able to purchase branded clothes for their avatars.
  • Acquiring RTFKT. Nike acquired RTFKT, a leading brand and NFT studio in December 2021. Founded in 2020, RTFKT is pioneering and innovating brand-building in the boundaries of physical and digital economies.
  • Nike launched its first collection of NFT sneakers created in a collaboration with RTFKT Studios, “CryotoKicks Dunk Genesis,” a collection of 13,570 items that has generated over 7,600 Ether (ETH) of traded volume. An interesting feature is that users can customize each pair using “skin vials.” These vials can be created by different designers, adding special effects and patterns to the base sneakers.
  • Furthermore, Nike has continued releasing drops (with RTFKT), including a complete NFT collectiondrop called CloneX (an NFT profile picture collection from RTFKT). With this collection, the company has also included a merch drop by airdroping Nike Air Force 1 with designs based on specific Clonex NFT traits. This collection, called RTFKT CloneX Forging SZN 1, has raised a total of 3,500 ETH as total traded volume. 
  • Nike has demonstrated its ability and willingness to interact and experiment with Web3 and metaverse technology, and it seems to be paying off. According to on-chain analytics, Nike has outperformed every other brand that has interacted with Web3 and NFTs when considering the revenue its initiatives have generated. In this case, Nike, thanks to RTFKT, has generated over $180 million in revenues (primary and royalties), while Adidas, another sports apparel company, has only generated 10% of that amount.

Adidas

Adidas has also made big moves when it comes to its Web3 and metaverse strategy.

  • NFT drop in collaboration with Bored Ape Yacht Club (BAYC), Adidas sold its first NFT collection, “Into the Metaverse,” back in December 2021.
  • The NFTs were sold for 0.2 ETH each, and each unlocks a digital and physical wearable (hoodie, tracksuit and Gmoney’s signature orange beanie). Furthermore, the digital version will be used in The Sandbox metaverse. As part of this initiative, Adidas purchased its first NFT, BAYC #8774, for its “Into the Metaverse” campaign.
  • Participation in The Sandbox metaverse. Adidas acquired virtual land in The Sandbox metaverse, with plans to build a virtual world with exclusive content and experiences.

Gucci

Gucci is another brand that has made significant and courageous moves in metaverse by:

  • Opening “Gucci Town” in Roblox. On May 22, Gucci started a short-term presence in Roblox with a garden space called “Art Garden.” This space, conceived as a virtual representation of an installation called Gucci Garden Archetypes in Florence, was available for Roblox Users for two weeks. 
  • Making the place look like a central garden (with the classic Gucci logo) and having connections to different stages where users can perform different activities, such as playing mini-games and visiting a store, where it’s possible to purchase Gucci merchandise for Roblox’s avatars. According to the company, over 20 million players have visited the garden.
  • Establishing a partnership with Zepeto. In February 2021, Gucci partnered with Zepeto, a leading app and social platform that personalizes avatars and creates virtual worlds. With the collaboration, Zepeto users are able to purchase and dress their avatars with pieces from Gucci House’s latest collections and explore the Gucci Villa world. 
  • Collaborating with Superplastic for an NFT series. The vinyl toy brand partnered with Gucci to launch a unique NFT collection featuring Gucci-styled Superplastic characters. The complete set is designed by Gucci head of design Alessandro Michele and will come with a physical ceramic representation, which will be handmade by Italian artisans.
    • At the time of this writing, the collection’s floor price is 0.82 ETH ($1,300) and has a total trading volume of 6,00 ETH.
  • Launching a virtual experience in The Sandbox. This space is based on the Gucci Vault platform and will offer immersive experiences, including an experimental store with Gucci vintage pieces.

Other Fashion brands

  • Other brands have started experimenting with metaverse technology. Most of them joined Decentraland in the first metaverse fashion week event. Brands like Estée Lauder, Tommy Hilfiger and Dolce & Gabbana understand that this virtual realm has the potential to convert the e-commerce shopping experience from 2D product images into a 3D immersive shopping experience.
  • In this event, there was a virtual fashion exhibition and the opening of the Fashion District, where 15+ brands, including Tommy Hilfiger and Hogan, have flagship virtual stores.

The innovative steps taken by Nike, Adidas, and Gucci towards embracing the metaverse and Web3 technology have set the stage for a new era in the fashion industry. Their experiences provide valuable insights for other fashion brands that are yet to venture into this space. For instance, brands like Estée Lauder, Tommy Hilfiger, and Dolce & Gabbana have begun experimenting with the metaverse through participation in the first metaverse fashion week event in Decentraland.

In conclusion, it’s evident that the metaverse is more than just a passing fad; it’s a revolutionary platform that’s transforming how we interact with brands and consume products. As Adidas, Gucci, and Nike continue to innovate and expand their presence in the metaverse, they’re setting a standard for other brands to follow. The success of these brands in the metaverse also underscores the importance of adapting to technological advancements and customer expectations in today’s digital age. Indeed, the future of fashion lies in the metaverse, and brands that embrace this will likely lead the pack in the years to come.

Corporates in the Metaverse

In the era of digital transformation, the metaverse has become the new frontier for technology companies. As a virtual reality space where users can interact with a computer-generated environment and other users, the metaverse is breaking boundaries and opening up endless possibilities for businesses and consumers alike.

This article delves into the strategic moves and plans of four major companies – Apple, Spotify, Tinder, and Shopify – as they navigate their paths in this burgeoning space.

Apple

  • Unlike the other tech giants, Apple has neither released nor joined the “metaverse race” publicly; however, it is building a strong footprint on the infrastructure by working on an advanced high-end AR/VR headset that could be ready in 2023, according to Bloomberg. 
  • This bet reflects Apple CEO Tim Cook’s ideas:

“I think AR is a profound technology that will affect everything. Imagine suddenly being able to teach with AR and demonstrate things that way. Or medically, and so on. Like I said, we are really going to look back and think about how we once lived without AR.”

Tim Cook, CEO Apple

Spotify

  • In May 2022, the music streaming company announced its entry into the virtual world with a partnership with Roblox and launched “Spotify Island.” In this world, users (both artists and fans) can hang out and explore a “wonderland of sounds, quests” and obtain exclusive merch for their Roblox avatars.
  • With this move, Spotify is the first music-streaming company to have a presence in the Roblox game and start exploring innovative methods, in which their users can interact and establish new relationships with artists and creators.
  • The visuals of this virtual world are based on green areas, with different icons (such as “Like” icons for redeeming free virtual merch) and interactive quests. Related to merch, the company explains that a portion of sales will go to the artists (but has not revealed what specific share). 
  • It’s expected that users will be able to go to different themed islands, each of which has related content, activities and quests. The first one will be “K-Park,” a perfect place for all K-Pop culture. 

Tinder

  • Back in December 2021, Match Group, the holding company of Tinder, announced its plans to enter the metaverse race with its so-called Tinderverse virtual world; with this, the company also announced plans to launch its own in-app currency, Tinder Coins, which was intended to reward customers who were active on the app and be accepted as payment for premium Tinder features. 
  • To make a more aggressive bet, Tinder acquired the AI and AR firm Hyperconnect, a well-known social discovery and video technology firm that launched two flagship apps: Azar (live video and audio chat) and Hakuna Live (a social live streaming app). Match Group expects the acquisition will help it to expand online dating and social features on its apps.
  • However, last August, Bernard Kim, the company’s CEO, instructed the Hyperconnect team to scale back and “not invest heavily in the metaverse at this time,” citing uncertainty about how the whole metaverse will look and a more challenging operating environment. This happened after the resignation of Tinder CEO Renate Nyborg and disappointing Q2 earnings. On Dec. 22, the company decided to delist Match Group’s stock.

Shopify

  • Similar to Apple, the biggest e-commerce platform is betting on incorporating AR into its business in the e-commerce segment. Currently, Shopify — thanks to a partnership with Poplar Studio — has been allowing merchants to launch a 3D and AR version of products on their respective sites.
  • According to Poplar Studio, “Once the brand has built the 3D model of its catalog, it can create the AR visualization experience, helping seeing the products in more detail, overlying the 3D models onto the real world from the app/web.” 
  • Furthermore, the company has announced a partnership with Novel, a no-code Web3 e-commerce platform. Thanks to this partnership, the startup launched an app on Shopify Store to equip existing merchants on Shopify with easy-to-use tools to experiment with Web3 without any technical knowledge. The core features allow for the creation (minting) and distribution of NFTs to be bought in the Shopify merchant front end.
  • The movement and interest in the metaverse have also attracted “legacy” or “traditional” fashion brands to the space. The move here appears to have strengthened its product offering and created a virtual immersive store where brands can interact with the worldwide public and sell virtual items. 

As we’ve explored, Apple, Spotify, Tinder, and Shopify are all making their mark on the metaverse in unique ways. From Apple’s advanced AR/VR headset to Spotify’s musical wonderland on Roblox, Tinder’s virtual world and in-app currency to Shopify’s AR-enhanced e-commerce experience, these companies are leveraging technology to create immersive and interactive environments for their users.

While the future of the metaverse remains uncertain, one thing is clear: these tech giants are leading the charge and shaping the future of this exciting new digital realm.

ChainGPT is Launching Solidus AI Tech, the Web3 Infrastructure as a Service Provider 

A new generation of blockchain-based projects have begun to ascend into the crypto industry, ChainGPT is there to provide them with the necessary support and tooling to help them succeed.

ChainGPT, the leading AI Infrastructure provider for the crypto, blockchain, and Web3 industry is bringing one of its most promising incubation projects to the public. After months of careful planning, diligent development, and community building, Solidus AI Tech will be taking its next step into Web3 and launching its $AITech IDO on the ChainGPT Pad.

With their world-class team, mesmerizing website, incredible network of connections, and rock-solid plan of action, Solidus AI Tech is ready to bring its products to market and become an active player in the digital economy!

What is Solidus AI Tech?

Based in Europe, Solidus AI Tech is an IaaS (infrastructure as a service) company that is solving some of the most prevalent, fundamental issues plaguing the digital economy; namely the demand for computational infrastructure. Building out their own 8,000-square-foot facility to house hardware that has been wired with their proprietary algorithms that improve computational costs and efficiencies. In tandem to the physical infrastructure, they are tapping into their resources to provide a full stack of cutting-edge Web3 infrastructural software solutions including Artificial-Intelligence-as-a-service (AIaaS), Blockchain-as-a-Service (BaaS), High-Performance Computing power (HPC), and an Artificial Intelligence marketplace.

What does AI Tech Provide?

As an infrastructure services company, Solidus AI Tech is providing a suite of four core services that can be used by companies, institutions, and even governments as a foundation to build sustainable digital systems. From metaverse to CBDC to gaming and beyond this is what AI Tech is providing:

AIaaS Artificial-Intelligence-as-a-service
Artificial intelligence is the frontier of mankind’s intellectual flourishing. Considered to be just as, if not more important a technological revolution as was the steam engine, AI has become the building block for new technologies promising to improve the lives of people around the world. Solidus AI Tech has neatly wrapped up a turnkey solution to jumpstart the integrations and implementations of AI into a broad range of applications.

BaaS Blockchain-as-a-service
Building blockchains from scratch is an extremely tedious, long, and resource-intensive (labor and capital) process. Building quality blockchains that can satisfy the security and operational demands of sensitive, high-value operations if even more arduous. Solidus AI Tech is extending its intelligent blockchain designs for any imaginable use case.

HPC – High-Performance Computation
The demand for computation continues to grow alongside the world’s population that is coming online and new energy-dependent solutions are introduced into society. Solidus AI Tech provides computation for the most intensive use cases across a multitude of industries.

AI Marketplace
The exchange of automated intelligent processes unlocks an entirely new machine economy that contributes to a potentially entirely new and untapped market segment. Solidus AI Tech will be providing a venue where industrial and individual AI commerce can take place.

What are some of AI Tech’s Unique Features?

Apart from the four key products that Solidus AI tech provides, there is a mixture of sophisticated novel developments at the design, code, and principle layers of the project that make it stand out from the crowd and supersede all existing solutions attempting to spearhead the enormous, evergreen market segment of Computational Infrastructure.

Some of these features include:

High-Performance Computing Costs reduction
Notorious for its insatiable energy demands, HPC is a problem that is looking for solutions beyond just the linear increase of hardware. Solidus AI Tech has developed proprietary algorithms that improve hardware efficiencies by 40% above the benchmark rate of existing industry standards; driving down costs, while increasing efficiency.

Eco-Friendly Computation IP (Intellectual Property)
Going hand-in-hand with its HPC reductions costs, a byproduct of Solidus AI Tech’s focus on optimization has resulted in the creation of innovations granting them intellectual property in the form of algorithmic systems that is much friendly for the environment with its efficient (lowered) consumption of energy and heightened computational capacity.


Custom Data Center
Solidus AI Tech has been able to secure a location with some of the lowest-cost energy and highest internet speed internet in all of Europe. With the presence of an in-house data center, Solidus AI Tech is in control of the computational supply chain and has full sovereignty in optimizing its service across every vertical of supply and demand. Built in Bucharest, the facility spans some 8,000 square feet and operates under ISO 14001:2015.

Vulnerability Monitoring
Security, monitoring, and specifically designed firewalls, Solidus AI tech provides a full spectrum of proactive protective measures to ensure the reliability of its systems. Leveraging novel structures of network devices existing without IP or MAC addresses alongside its protocol of automatic vulnerability detection satisfies the most stringent institutional security requirements.

Government Enterprise Blockchain Solutions
Utilizing a combination of its software and hardware solutions, Solidus AI Tech is able to service the most demanding use cases while adhering to NATO quality assurance standard. From voting, taxation, land registration, and supply chain traceability to Healthcare and Identity management; the security, flexibility and expertise Solidus AI Tech provides caters to every grade of entity.

Solidus AITECH Tokenomics

In tune with the forward-looking innovations that are coming out of Solidus AI Tech’s ecosystems, their vision of a decentralized, digital future is underscored with its elegant tokenomics that complement and underpin their system processes. Empowering users of all types with equal access to high quality infrastructure the $AITECH token adheres to inclusive, cost-efficient ideologies. From a payment vehicle for their product licenses, an incentive for creating and publishing quality AI tooling, and membership to the DAO, $AITECH is worth taking a look at:

Token Name: AI Tech
Token Symbol: $AITECH
Token Standard: BEP-20
Issuing Network: Binance Smart Chain
Total Supply: 2,000,000,000

Moreover, the $AITECH token has adopted the leading practices in deflationary economics by implementing a variable burn program that takes 5%-10% of every transaction used for acquiring platform serves and systematically removes them from circulation; thereby exerting constant pressure on the open market dynamics of the asset.

$AITECH IDO on ChainGPT Pad Details

Solidus AI Tech has dedicated a portion of its supply for the ChainGPT Pad IDO as follows:

IDO Date: 08/21/2023
Token Price” $0.012
Supply Allocation: 13,333,333.33 $AITECH tokens
Max Allocation: $160,000
Listing on Exchanges: August 28th, at 10 AM (UTC)

More information about the IDO specifications are available in their official listing here.

* ChainGPT implements a unique protection mechanism for all IDO participants in the form of a refund policy. After an IDO has been completed, if for any reason participants feel as though they would rather revise their contributions, they have up to 7 days to do so (unless they claim their allocations). For a more in-depth explanation of the ChainGPT Pad refund policy refer to their official article discussing it here.

About ChainGPT

ChainGPT is the leading provider of AI-powered Infrastructure for the crypto, blockchain, and Web3 industry. The one-stop-shop Crypto AI hub. From automated smart contract generation and auditing, to autonomous community management, advanced Web3 AI chatbot, AI-powered news aggregation, and NFT generation, ChainGPT is the most sophisticated, end-to-end AI solution on the market.

General Resources:
Website | V1 App | ChainGPT Pad | Whitepaper
DAO | NFT Generator | Staking | | Blog

Community and Social Media:
Twitter | Telegram | Discord | Instagram | LinkedIn | Youtube | TikTok

Launchpad BD

Contact Person(s): Gintare Kairyte / Amid Yazdi
Contact Email(s): [email protected] / [email protected]

General BD

Contact Person(s): Jake Wallace / Cameron French / Ilan Rakhmanov
Contact Email(s): [email protected] / [email protected] / [email protected]

—> To learn more about ChainGPT visit the official ChainGPT.org website

—> For all inquiries, please contact [email protected]

2021 as the Year of the Metaverse

The metaverse as a future virtual reality has been explored for a long time, with projects like Decentraland launching its first beta in 2017; however, 2021 changed everything.

The concept of the metaverse, a collective virtual shared space created by the convergence of virtually enhanced physical reality and physically persistent virtual reality, has been around for quite some time. However, it was in 2021 when interest in this futuristic realm skyrocketed, thanks largely to Facebook’s rebranding to Meta and its ambitious pledge to “bring the metaverse to life.” This article delves into various companies’ ventures into the metaverse, with a particular focus on Meta’s extensive efforts and investments, despite significant financial challenges.

Facebook announced its rebranding to Meta in October 2021. The company announced a complete company pivot and a new focus of the entire company to “bring the metaverse to life and help people connect, find communities and grow businesses.” After that, the amount of interest for “the metaverse” reached all-time highs: Companies around the world had started making announcements about their entries to the metaverse as they started working and building. According to market research company Newzoo, this number grew from 200 back in July 2021 to more than 500.

Are these moves and announcements part of a long-term strategic shift or only marketing buzz? 

In this part of the report, we will focus on discovering those companies, exploring what and where they are trying to build their metaverse presence. 

Facebook

The company Facebook has extremely lofty ambitions for the future of the internet and the metaverse, making the metaverse its biggest priority. Apart from the name change, the company is building its own metaverse platform, investing billions in the industry, and acquiring or developing different parts of the infrastructure.

Oculus/Meta Quest: The ex-startup was acquired by Facebook for $2 billion in mid-2014. It’s currently the most popular VR headset, with the second version (Meta Quest 2) selling over 14.8 million units since its launch in 2020, according to International Data Corporation.

Horizon Worlds: Meta’s first virtual world, it launched in December 2021 and is currently live for users in the United State and Canada. This virtual world serves as a free app, where users can hang out with friends, meet new people, play games and attend different virtual events. According to the platform, there are +10,000 worlds available right now.

Research and development: Meta has committed millions of dollars to research new technologies that could unlock the metaverse’s full potential, including VR, AR, AI, blockchain and crypto economies, and artificial vision, among others. Furthermore, the platform has launched a $50-million fund to invest in global research and program partners to help build the metaverse collaboratively.

Despite these efforts, Meta was one of the most impacted Big Tech companies from a turbulent macro environment and general market crackdown: Meta had to lay off over 11,000 employees and saw a sharp decline in its own stock, which lost 70%+ of its value from its peak of $300 per share down to $90 per share. Furthermore, in its Q4 2022 earnings call, the company announced that its metaverse unit (Reality Labs) recorded a $4.28-billion operating loss, bringing its total for 2022 to $13.72 billion. Although the unit only accounts for less than 2% of Meta’s revenue, it’s losing six times the amount of money it generated as revenue.

Despite this, the company continues to support its new vision, saying, “Reality Labs’ losses will increase in 2023 as they will continue to invest meaningfully in this area given the significant long-term opportunities that we see.”

Microsoft

The company has also been working on its own virtual realm; however, Microsoft’s strategy is different from Meta’s, as the Bill Gates-founded company is aiming to build a more work-focused metaverse, currently called “Microsoft Mesh.” 

In its strategy, its “metaverse” is expected to be connected with Microsoft’s product offering and allows teams and people in different physical locations to send chats, join virtual meetings, collaborate on shared documents, etc. and will include different ways to share content, including “Presenter Mode” and “Together Mode.” These modes are already live on the platform.

Apart from this, the company has developed its tech in-house: It owns augmented and mixed reality lenses called HoloLens. This hardware is currently used by several big enterprise clients, including Audi, Toyota, Airbus, Goodyear and the United States Army.

Furthermore, the company is well-positioned to grow and interact with gaming-related metaverses, which is supported by Satya Nadella, CEO of Microsoft, who believes “gaming will play a key role in the development of metaverse platforms.” The company currently has a strong footprint in that vertical:

  • Activision Blizzard acquisition. In early 2022, Microsoft acquired Activision Blizzard, a leading game developer studio, for $68 billion, making it the most expensive gaming acquisition of all time. This acquisition gives Microsoft the intellectual property of top-tier games, including Guitar Hero, World of Warcraft and CandyCrush, among others.
  • Owning Mojang Studios. Microsoft owns the creators of one of the most popular virtual world games, Minecraft, which has over 141 million active users and has sold 200 million copies since its launch. It’s important to highlight that Minecraft is often cited as an example of an existing, early-stage, closed version of a virtual world with metaverse characteristics. However, the company has banned NFT-related tech use cases.

Google

The company is focused on the tech stack and has already invested millions of dollars in Big Tech trends: VR, AR, XR and 3D cloud storage content. 

  • The company also launched Google Labs, committing strong efforts to R&D for projects such as Area 120 (Google’s in-house incubator) and ARCore, among others. 
  • Furthermore, Google relaunched its AR Google Glass and has secured a European trademark for the new version. According to company’s announcement, it will test the prototype in a public setting when available. 

Despite the turbulent macro environment and substantial financial losses, Meta remains undeterred, continuing to invest heavily in the metaverse. The company views this sector as a long-term opportunity with significant potential. Despite the skepticism and the financial hurdles ahead, Meta’s commitment to the metaverse signals a shift in how we perceive and interact with digital spaces. As we move forward, it will be intriguing to see how this bold vision shapes the future of the internet and whether other companies will follow suit in this brave new digital world.

Unveiling the Future of Blockchain Beyond 2023

We have all heard about blockchain in conjunction with the cryptocurrency landscape, which heavily relies on blockchain mechanisms to keep track of financial transactions. Moreover, we cannot oversee the history of crypto crashes that dramatically dropped its value. Yet, that doesn’t mean that blockchain technology, with its concepts and applications, is worthless, but a question still lingers – What is the future of blockchain?

We can all agree that blockchain’s future lies between communication network technologies and the security of subsequent network-based applications. Also, this immersive technology could grow the global economy by US$1.76 trillion by 2030 by raising tracking, tracing, and trust levels, a PwC report advises us.

As blockchain technology is already building secure digital environments to underpin Web3 and the Metaverse, today we will debate blockchain and its future implications. So read further, stay caught up, and discover if blockchain is the future beyond 2023.

The Future Blockchain’s Role in Digital Transformation

We all know by now that blockchain can significantly and disruptively impact many business models due to its core key elements, such as encryption, immutability, tokenization, decentralization, and distribution.

Just imagine that a simple business transaction can be done in just a matter of minutes, between 2 sole parties, without needing to use intermediaries, as seen up until now for any transaction.

As blockchain has the potential to identify business participants, ensure the security of transactions, validate them, offer faster transaction times, and execute the ecosystem rules, the future of blockchain lies at the intersection of three domains – technology, finance, and governance in any industry, where innovative solutions and transformative applications will emerge.

Blockchain’s Impact on Diverse Industries

Blockchain keeps evolving and integrating cutting-edge technologies, shaping new business models, redefining the traditional financial system, and paving the way for a new form of governance. The journey ahead will undoubtedly present challenges, but the potential rewards for those who navigate this intersection skillfully are immense.

1. Blockchain Could Turn Banking on Its Head

To sum up, the state of banking alongside blockchain tech is expected to grow exponentially to approximately 22.5 billion U.S. dollars in 2026. Moreover, blockchain tech can potentially decrease instances of human error and fraud.

2. Corporate Governance, DAOs, and Blockchain Technology

If traditional corporate governance is based on centralized concepts, blockchain can disrupt this conventional approach by increasing transparency and using smart contracts. The central aspect of corporate governance is that it is susceptible to human errors, self-interests, and many others that erupt from having authority over others.

Given this, DAOs could be a new business model based on modern technologies like blockchain that can bring innovative solutions to this classical problem.

3. Blockchain Rocking the Human Resources Landscape

Blockchain already has the advantage of a distributed database that allows for secure, transparent, and tamper-proof transactions, which could revolutionize the HR landscape.

From managing employees’ data and providing them with more control to enhancing compliance with regulations, reducing costs associated with recruiting and hiring, and increasing overall transparency, blockchain could simply address these using smart contracts.

However, before delving into investments related to blockchain stocks, cryptocurrencies, and other blockchain-driven ventures, it is crucial to thoroughly explore and comprehend the emerging trends, potential challenges, and intricate ethical considerations that accompany this transformative landscape.

A comprehensive understanding of these factors will empower you to make informed and strategic decisions in the dynamic world of blockchain investments.

Blockchain Marvels: Emerging Trends and Innovations

As blockchain technology gains traction and global recognition due to cryptocurrencies, many organizations are exploring ways to harness its potential for various applications. It’s no wonder that blockchain could add value through a vast database tool that could beneficially impact the global economy by $1.76 trillion by 2030.

Then, is blockchain the future? The simple answer is yes.

Blockchain tech could have many implications and benefit society and the economy, as many businesses are getting closer and closer to the Web3 and Metaverse environment, thanks to its security and privacy-enhancing abilities.

Moreover, in years to come, blockchain will emerge in the following:

  • Supply Chain by providing instant access to the status or authenticity of a product;
  • International Trading by using smart contracts, thus reducing the overall costs, and eliminating intermediaries;
  • DeFi (Decentralized Finance) uses smart contracts instead of paying a specific charge or fee for using the bank’s services;
  • Cryptocurrencies and payment systems benefit from storing transactional data in peer-to-peer networks, eliminating the involvement of centralized authorities. However, it also enhances security by creating a greater demand for high-performance systems with faster transaction times.

On the other hand, understanding the crypto market and its role in shaping the blockchain landscape highlights the interconnectedness between digital assets’ valuation and the broader evolution of decentralized technologies.

The Road to Blockchain Adoption

Undoubtedly, blockchain technology is a decentralized and distributed digital ledger that’s slowly and surely changing the digital economy. As it could impact the various sectors, it also opposes a new set of regulatory challenges. Thus, it is crucial for businesses, enterprises, and individuals looking to leverage this technology.

On the other hand, in the past year, we have witnessed many of SEC’s implications within the crypto domain, which could also extend to the blockchain sector. One thing we must know, it the blockchain regulatory landscape could be complex, reflecting the technology’s diverse applications.

For example, the Securities and Exchange Commission (SEC) oversees blockchain-based tokens and Initial Coin Offerings (ICOs) in the United States. At the same time, the Commodity Futures Trading Commission (CFTC) regulates cryptocurrencies as commodities.

Also, the European Commission launched a regulatory sandbox for innovative use cases involving Distributed Ledger Technologies (DLT) in February to enhance legal clarity for innovative blockchain solutions.

As these regulations give us hope for future adoption, blockchain technology has a bigger purpose of raising the bar for many industries.

Future of Blockchain: Social and Ethical Considerations

By now, we’ve learned that blockchain is the future, potentially revolutionizing how we interact by offering a decentralized and transparent platform or application.

Many industry experts and analysts are projecting a CAGR (Compound Annual Growth Rate) of 87.1% from 2022 to 2030, reaching a staggering market size of USD 1,593.8 billion. If blockchain weren’t the future, it wouldn’t be so praised and raised, right? Thus, the exponential growth reflects the vast potential of this innovative technology to revolutionize industries and transform global economies.

Nevertheless, blockchain’s disruptive essence also raises several ethical and social implications that require responsible and sustainable use. To mention a few, we have:

  • Privacy and data security in financial transactions;
  • Cybersecurity and hacking – as blockchain could be used for disreputable purposes;
  • Fairness and accessibility – as the technical equipment comes at a higher cost;
  • The impact on traditional institutions and industries – as blockchain enables transparency and accountability;
  • Decentralization and democratization of power – because it enables users to engage in direct, peer-to-peer transactions without intermediaries.

These are just a few changes that the future of blockchain technology will bring to the surface in the years to come. However, it is essential to comprehend that all these aspects need to be treated from a cautious perspective, as the evolution of blockchain technology promises to be fascinating and could shape the future of industries and institutions.

Is Blockchain the Future? Final Thoughts

Since we have reached the end of this comprehensive journey within the realm of blockchain’s potential and stand on the cusp of a new era, we hope we have answered one of the most asked questions – What’s the future of blockchain?

One thing is for sure: among the many emerging technologies of tomorrow, blockchain stands out as a promising force, carrying the power to bring significant changes.

Entertainment in the Metaverse

The metaverse is reshaping industries including fashion, music, cryptocurrency, and adult entertainment. With augmented reality, virtual fashion, cryptocurrency integration, virtual concerts, and immersive adult content, the line between the digital and physical world is blurring.

As we delve deeper into the digital age, the metaverse is proving to be a game-changer. The fashion industry is witnessing a new trend with virtual haute couture by brands like Gucci and Dolce&Gabana, enabling shoppers to virtually try on outfits before making a purchase. Meanwhile, artists such as Travis Scott and Post Malone are redefining the music experience with concerts in video games, reaching millions of viewers globally. In the realm of cryptocurrency, platforms like Reddit are leveraging distributed ledger technology to launch “collectible avatars.” Even the adult entertainment industry is tapping into the potential of the metaverse, offering immersive experiences and advocating for fairer working conditions.

Fashion

Trying on clothes meant going into sterile shopping malls and spending time in cramped change booths, until now. Augmented reality allows shoppers to see exactly how outfits would look before purchasing any items while in the comfort of their own homes.

Virtual fashion is another huge trend. We have seen Gucci, Dolce&Gabana and others offer virtual haute couture, while startups like The Fabricant push the boundaries of how virtual fashion is created, collected and traded.

Crypto

While cryptocurrencies and distributed ledger technology will form the basis for a lot of the decentralized metaverse, we expect it to be available and partly instrumental in the centralized metaverse, too. We’ve already seen Reddit launch “collectible avatars” that are NFTs without the “baggage,” if you will. 

Aside from full blown decentralized virtual worlds, we’ve seen Cointelegraph, Crypto.com, KuCoin and many others pursue strategies to further their vision of what the metaverse is going to be. Some will use decentralized ledger technologies without even advertising it and simply enjoy the fruits of development there. In a sense, users are already familiar with that when using Apple OS X, which inherits a lot of its basic plumbing from Free BSD, an open-source UNIX variant.

Music

During Covid, some singers innovated by doing concerts inside of games such as Fortnight and Roblox. Travis Scott’s April 2020 performance had over 28 million listeners. For people born before 1995, an online concert may seem strange and undesirable, but new generations of youngsters seem to be keen on the idea. Post Malone’s performance for the 25th year anniversary of Pokemon inside of Horizon World has over 5 million views on YouTube.

Rapper Snoop Dogg released an exclusive metaverse music video of his song “House I Built” from thealbum B.O.D.R on The Sandbox in April 2022. Snoop Dogg fans can also buy an NFT that gives them special access to exclusive Metaverse parties.  

Adult Entertainment

Sex workers have complained for a long time that their relationship with promotion platforms such as Instagram and Twitter are fraught with unjustified bans, jeopardizing their livelihood. Even industry leader OnlyFans banned some sexually explicit accounts last October, scaring thousands of models in the process. 

The open metaverse offers the possibility for fans to immerse themselves in the experience far deeper than ever before (pun intended), while it could cement creator royalties into the very backbone of protocols ensuring fair working conditions for this marginalized community. 

Multiple protocols, such as Dolz.io or Metapleasure.us have already sprung up to make use of first mover advantages and capture as much of the market as early as possible.

Virtual reality porn already started rolling out in 2014, and interactive applications have so far remained 2D and non-immersive, mainly in the form of live cam sites.

According to industry sites the Adult Cam, the industry has about $1 billion in revenue. While no match for the gaming industry, the metaverse could replace part of the pornography industry as well. How big this opportunity exactly is remains elusive as estimates of the total size range between $6 billion and $96 billion. Whatever the correct number might be, this is a hot market.

In conclusion, the metaverse is providing a platform for innovation and disruption across multiple industries, from fashion to adult entertainment. Through augmented reality and virtual fashion, the shopping experience is evolving to become more convenient and personalized. Cryptocurrencies are playing an instrumental role in shaping the infrastructure of the metaverse. Music artists are leveraging the metaverse to connect with fans on a global scale, and the adult entertainment industry sees an opportunity for improved work conditions and immersive experiences. As the metaverse continues to evolve, these sectors are likely to witness further transformations, creating a future where digital and physical realities seamlessly intertwine.

Professional Use Cases for the Metaverse

The emerging metaverse is revolutionizing industries, including real estate, tourism, and architecture. Virtual tours are transforming how real estate developers showcase properties, providing potential buyers with immersive experiences before visiting the physical location.

In the tourism sector, metaverse technology is enhancing customer experiences by enabling virtual visits to resorts and hotels, and augmenting city tours with rich, contextual information.

The realm of architecture is also benefitting from this digital shift, with metaverse technology facilitating visualization of finished buildings before construction, and even enabling the exploration of architecturally impossible structures.

Real Estate

Virtual tours of real estate offerings would offer developers the possibility to showcase buildings before the first stone is laid and would offer buyers to get a decent first impression before having to go to the physical location, saving time and effort for both sellers and buyers.

We have already seen real estate agents offer 360° walkthroughs of buildings on platforms such as Zillow or German ImmobilienScout24. As VR headsets become more commonplace, sellers have stronger incentives to create these, so only the most promising buyers book on-premise tours.

Matterport, a company from Sunnyvale, California, is developing a technology called “Digital Twins,” which is already used by Fortune 500 companies, such as WeWork and Waldorf Astoria. The company claims its special VR cameras are able to transport actual buildings into virtual reality.

Tourism

Ever booked a resort or a hotel, and the actual accommodation was not at all how it looked in the pictures? Metaverse tourism offers a way for potential customers to get a taste of the experience before booking. 

Even when guests have arrived, resorts or tour operators could use augmented reality to radically transform their guests’ experience by going on a tour or a ride. City tours could display a plethora of information on AR headsets, while the tour guide explains the most salient points.

Full metaverse tourism, where travel only takes place in virtual worlds, seems further out, as extended immersion is not a pleasant experience for most users. We expect virtual theme parks to offer short, intense and rapidly evolving experiences to adventurous users however.

“The Flyover Zone” already allows users to experience virtual flyovers of cultural heritage sites worldwide.

Finance

The metaverse will come fully into its own once it starts to enable commerce of digital and maybe also non-digital items. Finance will play a large role in enabling payments and securing marketplaces, but it has to compete with or build upon blockchain technology to succeed. We’ve seen HSBC, JPMorgan and Interbank move into this space tentatively for now.

Architecture

Seeing a finished house before its construction is complete in location and in as much detail as possible is a dream come true for architects, home builders and developers alike. Metaverse technology would enable much tighter feedback loops between architects and their customers and lead to greater satisfaction.

Apart from making potential real buildings visible, the metaverse can allow physically impossible architectural feats to be experienced. Game developers are already dreaming up whole worlds.

In conclusion, the integration of metaverse technology into the fields of real estate, tourism, and architecture is ushering in a new era of innovation. The ability to virtually tour properties and destinations before committing to them is reshaping customer expectations and experiences. Similarly, architects can now offer clients a glimpse into the future, showcasing finished constructions before they’ve even broken ground. As this technology continues to evolve, we can expect to see even more extraordinary advancements and opportunities in these sectors.

Games, Health & Education as Use Cases of the Metaverse

In the rapidly evolving digital realm, the concept of a metaverse, powered by blockchain technology, is taking center stage. The metaverse promises an immersive, interactive virtual environment where individuals can work, learn, play, and socialize in real-time. But beyond this broad definition, what practical applications does the metaverse offer? This article delves into the diverse uses of the metaverse, from gaming and education to health, and explores the progress made so far in these fields.

Games

Computer games have already overtaken movies in both production cost and revenue, which is expected to hit $180 billion in 2022. Top-tier games have embraced immersive technologies as fast as they emerged and now feature surround sound technologies like Dolby Atmos on a regular basis. Some games like Resident Evil 4 have full-blown virtual reality versions that users can experience with popular VR headsets.

Early Web3 metaverses like Axie Infinity, Illuvium or The Sandbox have proven that the economic potential explodes once ownership and financial incentives for players are added. These early games had very limited gameplay, and some were basically frontends for DeFi protocols.

Major development studios showed some resistance to operate with open primitives and decentralized networks, opening the potential to score the first open metaverse video game smash hit for independent game makers.

Recently, games have shifted from play-to-earn to play-toown, focusing more on gameplay than pump and (mostly) dump tokenomics. The future will tell if on-chain characters will truly have meaning outside of the games they were created in, but in any case, having a bullet-proof “save file” is a distinct plus to many gamers.

Education

German car manufacturer BMW uses augmented reality to train factory workers on how to mount cables and other intricate parts of the assembly. Trainees see the virtual part being mounted and follow the procedure with the physical part in hand, making the process crystal clear and unambiguous. The car manufacturer also reports on using mixed reality applications in vehicle development.

Telecommunications equipment manufacturer Nokia operates a VR training room, where trainees learn how to install 5G equipment.

Apart from virtual or augmented reality hands-on training, we expect virtual classrooms to be able to reach children in remote locations. Universities, like University of California, San Diego, are already starting to offer classes or entire programs in the metaverse. The education market was estimated to have more than $106 billion in revenue in 2021. If just a small portion of that moves to the metaverse, it could power multiple unicorns.

Health

Augmented reality can power remote surgeries and vastly improve telehealth offerings, according to sources. Mount Sinai Health System, located in New York, in partnership with SphereGen and Microsoft’s HoloLens 2 utilized the technology to diagnose over 3,000 patients and successfully treat over 400 at the Kyabirwa Surgical Center in Uganda.

Doctors at the Marienkrankenhaus in Hamburg, Germany used HoloLens to overlay the patient with CT scans during complicated surgeries in an on-site mixed reality application that allowed the doctors to see relevant diagnostic information exactly where they needed it while performing the operation.

The metaverse helps on both ends of the spectrum here. Top-notch surgeries could use augmented reality to boost precision and display vitally important diagnostic information where they are needed most, and remote diagnostics and surgeries could help underserved communities get access to healthcare they would not be able to get otherwise.

The metaverse, in its varied applications, has the potential to revolutionize how we interact with the digital world. From providing new dimensions to gaming and offering innovative educational tools, to transforming healthcare services, its influence is far-reaching. While we’ve already witnessed impressive strides in these domains, the metaverse is still in its nascent stages. As technology continues to advance and more industries embrace the possibilities of the metaverse, we can anticipate a future where our virtual and physical realities are seamlessly intertwined.

The History of the Metaverse

The metaverse, a concept now at the forefront of tech innovation, has a rich history that spans several decades. This article explores the evolution of the metaverse, from its early conceptualization in science fiction to the technological advancements that have shaped its current form.

When drawing a timeline of the development of the metaverse, we need to reference our definition of what the metaverse is: “A virtual-reality space in which users can interact with a computer-generated environment and other users.”

According to Britannica, computer-based virtual reality was first invented by Jaron Lanier in 1987. Just two years later, between 1989 and 1991, Tim Berners-Lee invented the Hyper Text Transfer Protocol (HTTP), which gave rise to the World Wibe Web as we know it today after the first browsers outside of NeXTSTEP gained popularity in 1993 with NCSA Mosaic. HTTP hyperlinks would forever shape how users interact with virtual worlds.

The term “metaverse” was first coined by science fiction writer Neal Stephenson in 1992.

In 1993, console and games developer Sega announced Virtual Reality Glasses at the CES.

Meanwhile, in popular culture, William Gibson’s seminal book Neuromancer (1984) and movies such as The Lawnmower Man (1992) and The Matrix (1999) popularized the notion that adventures could be had and fortunes be made in purely virtual worlds.

Philip Rosedale released Second Life in 2003, marking the first all-virtual world, with a virtual economy that succeeded at scale. In 2006, a company called Roblox introduced software that lets users create and share games together online. Palmer Luckey, an 18-year-old inventor, created the prototype for the Oculus Rift VR headset in 2010, and the company got acquired by Facebook for $2 billion in 2014. Then, in 2013, Google started delivering its AR effort Google Glass to selected insiders but was met with public ridicule and pushback (“Glassholes”) and ultimately scrapped the effort in 2015.

The year 2016 saw Nintendo’s release Pokemon Go, which had droves of people swarm through parks in the hopes of finding one or more of the lovely critters hidden in a bush or on a tree. The same year, Microsoft launched its HoloLens platform. A year later, in 2017, Ikea launched the Places app, which lets users view furniture in place using augmented reality.

Fast forward to 2020 when Apple shipped LIDAR sensors with the iPhone 12 Pro, giving augmented reality developers a powerful boost. And finally, in 2021, Facebook rebranded to Meta.

On the decentralized side of the tracks, Bitcoin (BTC) launcheed in 2009, enabling a peer-to-peer electronic cash system. The Sandbox metaverse kicked off in 2011 but didn’t have a token until 2020. 2015 saw the launch of Ethereum and metaverse chain Decentraland.

CryptoKitties, the first hugely popular NFT game, congests the Ethereum blockchain for months in 2017. Sky Mavis launched Axie Infinity in 2018, but the game didn’t take off until the launch of its token in November 2020.

Here is an overview of who the top five players in the metaverse are and which layers they focus on.

Venture Capital has been very active in this space, especially since the Facebook rebrand. McKinsey reports that venture capital (VC), corporate and private equity financing has grown from $13 billion in 2021 to over $120 billion in 2022, including the $69bn acquisition of Activision by Microsoft.

The journey of the metaverse’s development is marked by significant milestones from both tech giants and startups alike. With venture capital funding soaring and major players like Meta leading the charge, the metaverse is poised for continued growth and transformation. This article provides a comprehensive look at the key players and developments shaping this exciting digital frontier.

202FansLike
446FollowersFollow
3,843FollowersFollow