China proposes to bring its social credit system to the metaverse: Report


Proposals to a United Nations group reportedly show China wants digital IDs and real-world punishments for actions that occur in the Metaverse. China is reportedly looking to implement a system akin to its social credit system in the metaverse and other online virtual worlds.POLITICO reported on Aug. 20 that state-owned telco China Mobile hasproposed a

Former Activision Blizzard executive joins Yuga Labs as CEO


With Daniel Alegre on board, Yuga Labs is expected to ramp up its metaverse efforts. Previously, he held leadership positions at Google, Activision Blizzard, and Bertelsmann. Yuga Labs, the company behind the Bored Ape Yacht Club (BAYC) and CryptoPunks NFT collections, has a new CEO: Daniel Alegra. The executive resigned as president and chief operating

Animoca Brands is the most funded metaverse developer in 2022: Nasdaq


New data from Nasdaq research revealed that over the last investors were keener to back late-stage industry leaders such as Animoca Brands compared to early-stage startups. The crypto bear market has also been called a builder’s market by many leading figures and companies in the industry.New data from Nasdaq reveals that investors had this mindset

Firefox dev Mozilla goes all-in on metaverse, acquires Active Replica


The legacy web developer and internet browser Mozilla announced its acquisition of Active Replica as part of its Hubs creator ecosystem to enhance digital experiences. The web developer Mozilla, mainly known for its internet browser Firefox, has joined the rush of legacy internet platforms jumping into the Web3 and metaverse development space.In a blog post

Trademark applications for crypto, NFTs, and metaverse surge in 2022: Report


Data from March reportedly showed the largest number of U.S. trademark filings in 2022, with 1,078 for NFTs, 604 for cryptocurrencies, and 759 for the metaverse. The number of U.S. trademarks filed related to cryptocurrencies, nonfungible tokens, Web3, and the metaverse since January have reportedly passed those in 2021.According to data compiled by intellectual property

Metaverse could be worth $5 trillion by 2030: McKinsey report


A new report from global consulting firm McKinsey found that the metaverse could be worth $5 trillion by 2030. Global spending in the metaverse could reach $5 trillion by 2030, according to a new report from international consulting firm McKinsey & Company. Published yesterday, the 77-page report titled “Value Creation in the Metaverse” analyzed current adoption…

Is Web3 like playing Minecraft?


Web3 is coming. Are you ready for it? Use the newest version of the internet and expand your whole online experience. How to use Minecraft to understand Web3?Minecraft makes the transition from analog block building to an immersive gaming experience rather easy and playful.Users can turn the Minecraft experience into whatever they want it to…

Turkish president orders ruling party to organize metaverse forum


Turkish officials have recently identified the metaverse as a priority area for policy development. Turkish President Recep Tayyip Erdoğan and ruling Ak Party officials met earlier this week to discuss the metaverse, with the president calling for comprehensive research on the subject.Erdoğan has reportedly urged the Ak Party to study the metaverse, cryptocurrencies, and how…

NFT-focused Animoca Brands valued at $5B following $358M raise


The Hong Kong-based game software and venture capital firm will deepen its exposure to NFTs, gaming and metaverse projects. Hong Kong-based software and venture firm Animoca Brands has secured $358.8 million in capital investments to fuel new acquisitions in the nonfungible token (NFT), gaming and metaverse sectors, further cementing crypto’s biggest trends in 2022. The funding…

Enjin wants to decentralize metaverse with new $100M fund


The Efinity Metaverse Fund will focus on seed equity investments for projects building Efinity. Blockchain gaming platform Enjin is establishing a new fund to support the development of the metaverse ecosystem and make it more decentralized.Enjin, a startup behind the nonfungible token (NFT)-focused blockchain Efinity, has formed a $100 million fund to support ​​Efinity adopters…

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