Tag: Metaverse

Epic Games and LEGO Group Partner to Build Family-Friendly Metaverse

by Blockchain News

Epic Games, the creator of the Unreal Engine and Fortnite, has announced a long-term partnership with the LEGO Group to build a “family-friendly” Metaverse. The announcement comes just weeks after Epic Games’ $2 billion funding round aimed at accelerating the company’s plans for the Metaverse.

The partnership between Epic Games and LEGO Group is expected to combine Epic’s expertise in virtual world technology with LEGO’s iconic brand and family-friendly reputation. While neither company has revealed any concrete details about the collaboration, LEGO Group CEO Niels Christiansen told the Financial Times earlier this year that the company was looking to announce more details soon.

The move towards a “family-friendly” Metaverse is significant given the concerns over the potential negative impact of virtual worlds on young people. Critics have raised concerns over the potential for addiction, cyberbullying, and exposure to inappropriate content.

Epic Games’ decision to partner with LEGO Group could be seen as a way to address these concerns and make the Metaverse more accessible to families with children. By leveraging LEGO’s brand and expertise in creating family-friendly content, Epic Games could help to create a virtual world that is both entertaining and safe for all ages.

The partnership between Epic Games and LEGO Group is just the latest indication of the growing interest in the Metaverse. With major players like Facebook, Roblox, and Decentraland also investing in virtual world technology, it’s clear that the concept of the Metaverse is here to stay.

As the Metaverse continues to evolve, it will be interesting to see how companies like Epic Games and LEGO Group approach the challenges of creating a virtual world that is both engaging and safe for all ages. With billions of dollars being invested in the technology, the future of the Metaverse looks bright, but there are sure to be bumps along the way as the technology continues to develop.

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Epic Games CEO Defends Metaverse

by Blockchain News

In a recent tweet, Epic Games CEO Tim Sweeney pushed back against a recent article from Business Insider that claimed the Metaverse was “dead.” The article, written by PR firm CEO Ed Zitron, argued that virtual worlds had been abandoned by the business world, citing Meta’s Horizon Worlds, Decentraland, and Yuga Labs’ Otherside as examples of metaverses that had failed to live up to their hype.

Sweeney, however, was quick to point out that there are currently 600 million users across virtual world platforms like Fortnite, Minecraft, Roblox, The Sandbox, and VR Chat. In his tweet, Sweeney sarcastically suggested that the Metaverse was dead and that it was time to organize an online wake for the 600 million monthly active users across these platforms to mourn its passing.

This isn’t the first time that Sweeney has spoken out in defense of the Metaverse. In April 2022, Epic Games announced a $2 billion funding round aimed at accelerating the company’s plans for the Metaverse. The investment included a $1 billion investment from Sony Group and KIRKBI, the holding company behind the LEGO Group.

Shortly after the funding round, Epic Games and LEGO Group announced a long-term partnership to build a “family-friendly” Metaverse. While neither company has revealed any concrete details about the collaboration, LEGO Group CEO Niels Christiansen told the Financial Times earlier this year that the company was looking to announce more details soon.

Sweeney’s defense of the Metaverse is understandable, given that Epic Games is heavily invested in the technology. As the creator of the Unreal Engine and Fortnite, two major players in the virtual world space, Epic Games is well-positioned to take advantage of the growing interest in the Metaverse.

It remains to be seen whether the Metaverse will live up to its hype, but with major players like Epic Games and LEGO Group investing billions of dollars in the technology, it’s clear that the concept is not going away anytime soon. As more and more people turn to virtual worlds for work, play, and socializing, it’s possible that the Metaverse will become an integral part of our daily lives.

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Jack Grealish and Oliver Heldens Debut Musical Collaboration with Exclusive DJ Set in OKX Collective Metaverse

by Blockchain News

MANCHESTER, UK, May 4th, 2023, Chainwire

  • Future house pioneer Oliver Heldens performs alongside Manchester City player Jack Grealish in first-of-its-kind ‘Mixing in the Metaverse’ DJ set

  • Exclusive musical performance includes new track created by Grealish and Heldens 

OKX, one of the world’s leading Web3 technology companies, today hosted an exclusive DJ set performed by Manchester City star Jack Grealish and legendary DJ Oliver Heldens in its OKX Collective metaverse. 

The ‘Mixing in the Metaverse’ experience includes a 15-minute set performed by metahuman avatars of Grealish and Heldens, who has been coaching Grealish on the turntables. The concert-like experience sees Grealish and Heldens debut a new, exclusive collaboration track and takes place in a futuristic stadium built in the Everdome metaverse. 

Jack Grealish said: “I love music and I’ve wanted to try my hand at DJing for a long time. What I couldn’t have expected was that my DJing debut would come in the metaverse! The OKX Collective metaverse is unique and I’m honoured to share this special collab alongside a DJing legend like Oliver with fans from all over the world.”

Haider Rafique, Global Chief Marketing Officer at OKX, said: “For our third metaverse experience with Manchester City, we step into the virtual world to watch Jack try his hand on the decks alongside a legend of the future house genre. This fan experience is a great example of the one-of-a-kind immersive experiences we are building for fans. These opportunities are special in that they bring people intimately close to the players they love and their passions.”

Fans visiting the OKX Collective metaverse will be able to revisit the metaverse training experience OKX has launched with defender Ruben Dias and the tactical masterclass given by Manchester City Captain Ilkay Gundogan. Within the metaverse, fans can also enter competitions to win prizes, including passes to team trainings, match tickets and much more.

To enter the OKX Collective metaverse, fans simply need to click this link.

OKX is the official training kit partner of Manchester City for the 2022/23 season.  

About OKX

OKX is the second-largest global crypto exchange by trading volume and a leading web3 technology company. Trusted by more than 50 million global users, OKX is known for being the fastest and most reliable crypto trading app for investors and professional traders everywhere.

As a top partner of English Premier League champions Manchester City FC, McLaren Formula 1, golfer Ian Poulter, Olympian Scotty James, and F1 driver Daniel Ricciardo, OKX aims to supercharge the fan experience with new financial and engagement opportunities. OKX is also the top partner of the Tribeca Festival as part of an initiative to bring more creators into web3.

Beyond OKX’s exchange, the OKX Wallet is the platform’s latest offering for people looking to explore the world of NFTs and the metaverse while trading GameFi and DeFi tokens.

To learn more about OKX, download our app or visit: okx.com

Disclaimer

THIS ANNOUNCEMENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY. IT IS NOT INTENDED TO PROVIDE ANY INVESTMENT, TAX, OR LEGAL ADVICE, NOR SHOULD IT BE CONSIDERED AN OFFER TO PURCHASE, SELL, OR HOLD DIGITAL ASSETS. DIGITAL ASSETS, INCLUDING STABLECOINS, INVOLVE A HIGH DEGREE OF RISK, CAN FLUCTUATE GREATLY, AND CAN EVEN BECOME WORTHLESS. OKX IS NOT REGULATED BY THE FCA, THUS, PROTECTIONS SUCH AS THE FINANCIAL OMBUDSMAN SERVICE OR FINANCIAL SERVICES COMPENSATION SCHEME WILL NOT BE AVAILABLE. YOU SHOULD CONSIDER WHETHER YOU UNDERSTAND HOW CRYPTO WORKS AND WHETHER TRADING OR HOLDING DIGITAL ASSETS IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. THE VALUE OF YOUR DIGITAL ASSETS, INCLUDING STABLECOINS, CAN INCREASE OR DECREASE AND PROFITS MAY BE SUBJECT TO CAPITAL GAINS TAX. PAST PERFORMANCE DOES NOT INDICATE FUTURE RESULTS. PLEASE CONSULT YOUR LEGAL/TAX/INVESTMENT PROFESSIONAL FOR QUESTIONS ABOUT YOUR SPECIFIC CIRCUMSTANCES.

Contact

OKX
media@okx.com
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The Sandbox partners with Ledger Enterprise for NFT security integration.

by Blockchain News

In its latest move to bolster security and enhance its partners’ experiences, The Sandbox has partnered with Ledger Enterprise to develop security integration. This partnership will enable The Sandbox’s partners to migrate their nonfungible token collections to the Ledger wallet, ensuring the highest level of security for these assets.

The collaboration will also see The Sandbox appear as a decentralized application (DApp) on Ledger Enterprise, and a specific widget will be integrated into the Ledger Live desktop application. This will allow for the transfer of all NFTs in The Sandbox collection wallet to the Ledger Enterprise wallet, thereby ensuring their security.

As part of the partnership, The Sandbox will recommend Ledger Enterprise to its LAND owner ecosystem, while Ledger will promote The Sandbox metaverse to its clients. The initiative extends the recently established partnership between The Sandbox and Ledger to promote crypto education in the metaverse.

This partnership follows a successful collaboration between The Sandbox and Ledger in 2022, which saw the two companies promote crypto security education through a game called School of Block in The Sandbox’s metaverse. According to the VP of Communications at The Sandbox, Ariel Wengroff, the company was thrilled with this experience.

Ledger recently raised $109 million (100 million euros) in a Series C funding round extension, placing its valuation at $1.4 billion (1.3 billion euros). The capital, provided by investors such as VaynerFund, Cité Gestion SPV, True Global Ventures, and Digital Finance Group, will be used to expand the company’s distribution network, increase production, and develop new products.

The Sandbox is actively broadening its partnerships network and signed a memorandum of understanding with the government of Saudi Arabia in February to explore, advise and support each other in metaverse development. The Sandbox has also previously partnered with some of the biggest names both inside and outside of the Web3 space, including Snoop Dogg, Gucci, Tim, Atari, HSBC, and Warner Music Group.

In conclusion, The Sandbox’s partnership with Ledger Enterprise is a significant step in ensuring the security and safety of nonfungible token collections on its platform. The collaboration will enable The Sandbox’s partners to enjoy the highest level of security and enhance their overall experience on the platform. With its growing list of partnerships, The Sandbox continues to position itself as a leading decentralized metaverse platform in the Web3 space.

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Safety Groups Urge Meta to Halt Minors from Joining Metaverse

by Blockchain News

Meta, formerly known as Facebook, has faced backlash from safety groups and advocates for its plans to allow minors into its metaverse app, Horizon Worlds. In a letter addressed to CEO Mark Zuckerberg, safety groups including Airplay, the Center for Countering Digital Hate, and Common Sense Media, among others, urged the company to scrap its plans until potential risks have been assessed.

The letter cited concerns over the safety and privacy of minors who may face harassment and privacy violations on the virtual reality app. According to a report by Bloomberg, the letter highlighted the need for Meta to wait for more peer-reviewed research on the potential risks of the metaverse before allowing children and teens to join.

The Center for Countering Digital Hate released a report in March that found users under the age of 18 have already been facing harassment from adults on the app. During 100 visits to the most popular worlds within Horizon Universe, the study documented 19 episodes of abuse directed at minors, including sexual harassment. These incidents further reinforce the concerns expressed by safety groups and experts.

Meta’s decision to allow minors into the metaverse raises questions about online safety and privacy. While the company has stated that it plans to impose safety measures to protect young users, safety groups argue that more needs to be done. The letter called for a more in-depth assessment of the risks involved and the implementation of stricter safety measures before allowing minors into the virtual reality app.

The debate around online safety and privacy for children and teenagers is not new. Over the years, social media companies have faced scrutiny for their handling of online safety for minors. The addition of virtual reality apps like Meta’s Horizon Worlds adds another layer of complexity to the issue. While virtual reality apps offer a unique experience, they also pose unique risks that must be addressed.

In conclusion, the call by safety groups and advocates for Meta to halt its plans to allow minors into the metaverse app, Horizon Worlds, highlights the importance of online safety and privacy for young users. While the company has promised to implement safety measures to protect minors, further assessment of potential risks and stricter measures are necessary to ensure the safety and well-being of young users.

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Meta’s Virtual Reality Programmers Earn $1 Million

by Blockchain News

In recent years, Meta, the parent corporation of Facebook, Instagram, and WhatsApp, has indicated interest in expanding into the metaverse. This interest comes as a result of the rapid growth of all three of these platforms. Even though the company’s section responsible for developing the metaverse, Reality Labs, is projected to incur enormous losses of $13.7 billion over the period of 2022, Facebook’s chief executive officer, Mark Zuckerberg, is unwavering in his dedication to the company’s long-term ambition.

In spite of the company’s financial woes, a recent article published in The Wall Street Journal revealed that total remuneration for Meta’s virtual reality programmers may reach up to one million dollars. According to the claim, which cites unnamed persons with knowledge of the situation as its source, salary packages for metaverse developers at Meta vary from around $600,000 to roughly one million dollars annually.

The intentions that Meta has for the metaverse have been greeted with opposition from several parties, including the Federal Trade Commission, which has filed a lawsuit against Meta in an effort to prevent the latter from acquiring a virtual reality firm. Because of the “serious risks” involved and the potential for damage, two senators from the United States have also asked Zuckerberg not to provide teens access to the metaverse platform Horizon Worlds.

In spite of the difficulties, Meta is carrying out its ambitions in the same manner as before. A court in the United States gave the business in question permission to go through with the purchase in February of 2023. Additionally, on March 13, the head of commerce and finance technologies at Meta made an announcement that the company will be discontinuing its support for nonfungible tokens on Facebook and Instagram for the time being. This decision was made in order for the company to concentrate on finding alternative methods to promote artists, individuals, and companies.

The fact that Meta is so focused on the metaverse brings a variety of possibilities and difficulties to the table for the organization. The company’s high compensation for virtual reality programmers may raise doubts about the company’s spending priorities, given the enormous losses that have been incurred in the company’s metaverse-building section. Despite this, it seems that Meta is resolved to go through with its plans for the metaverse in spite of Zuckerberg’s unflinching commitment to the long-term vision.

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Meta offers lucrative pay packages for metaverse developers

by Blockchain News

Meta, the parent company of Facebook, Instagram, and WhatsApp, has been actively pursuing expansion into the metaverse, despite facing challenges and significant losses. The company’s metaverse-building division, Reality Labs, reportedly lost a staggering $13.7 billion in 2022, the largest yearly loss recorded for the division. Despite this setback, Meta has continued to offer lucrative pay packages to its metaverse developers, with compensation ranging from $600,000 to almost $1 million, according to anonymous sources familiar with the matter, as reported by The Wall Street Journal.

The move to attract top talent to work on its virtual reality suite comes at a time when Meta has been facing legal challenges. The company was served with a lawsuit from the Federal Trade Commission against Meta and CEO Mark Zuckerberg, in an attempt to block “its ultimate goal of owning the entire ‘metaverse.'” However, a judge in the United States approved Meta’s acquisition of a virtual reality company at the beginning of February 2023, indicating the company’s commitment to its long-term vision for the metaverse.

Despite concerns raised by U.S. senators in a letter addressed to Zuckerberg urging the Meta CEO not to allow teenagers access to the metaverse platform Horizon Worlds, citing “serious risks” and a “digital space rife with potential harms,” Zuckerberg has remained committed to the company’s vision for the metaverse.

Meta’s recent decision to slowly stop its support for non-fungible tokens (NFTs) on Facebook and Instagram was made to “focus on other ways to support creators, people, and businesses,” according to the head of commerce and financial technologies at Meta in a tweet on March 13. The move may be a signal that the company is exploring other ways to monetize its products and services, in addition to NFTs.

As Meta continues to invest in the development of the metaverse, the company’s ability to attract and retain top talent will be crucial to its success. With salaries ranging from $600,000 to almost $1 million, the company is offering its metaverse developers some of the most competitive compensation packages in the industry. Despite significant losses, Meta’s commitment to its vision for the metaverse remains steadfast, and it will be interesting to see how the company navigates the legal and regulatory challenges that lie ahead.

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OKX Launches Dias Metaverse Fan Experience

by Blockchain News

Cryptocurrency exchange and Web3 technology developer OKX has been making moves in the metaverse space over the past month, with its latest announcement showcasing its commitment to immersive experiences for fans. The company has launched its first immersive metaverse fan experience as part of its “OKX Collective.”

On April 3, OKX revealed its collaboration with Manchester City footballer Rúben Dias, called “Train Like Dias.” According to the announcement, fans can virtually experience Dias’ favorite training techniques and receive coaching and tips. The experience is open exclusively to fans within the OKX Collective metaverse.

Haider Rafique, the global chief marketing officer at OKX, believes that this new immersive experience will help connect fans and stated that “is another great example of what this technology allows. The possibilities that Web3 can offer are vast and only limited by our own imaginations.”

OKX and Manchester City officially became partners in July 2022, and the platform has hinted at future offerings of Web3-content from other players on the team, including Alex Greenwood, Ilkay Gündoğan, and Jack Grealish.

The metaverse continues to be the next frontier to explore connections between physical reality and Web3 applications, as seen with “Train Like Dias.” However, recent events surrounding metaverse development have been mixed after Disney reportedly scrapped its metaverse division. That came only a week after rumors began circulating that Animoca Brands, a prominent metaverse developer in the space, made cuts of around $200 million to its metaverse fund. Animoca promptly denied those claims.

On the other hand, South Korea launched a “Metaverse Fund” on March 12, intending to accelerate metaverse initiatives within the country. Automotive manufacturer Nissan has also recently filed multiple Web3 trademarks and trialed sales in the metaverse.

OKX’s “Train Like Dias” collaboration is a prime example of the opportunities that the metaverse can offer. It allows fans to connect with their favorite players in a virtual space and experience training techniques that may have previously been inaccessible. The potential for Web3 to create immersive experiences is vast, and OKX’s latest move in the space is a testament to the technology’s capabilities.

Since OKX’s partnership with Manchester City, the company has been working to establish a stronger presence in the metaverse space. The collaboration with Dias is just the first of many future offerings the platform has planned, and fans can expect to see more Web3-content from other players on the team.

However, recent events surrounding metaverse development have been a mixed bag. While South Korea has launched a “Metaverse Fund” to accelerate initiatives in the country, Disney reportedly scrapped its metaverse division, and Animoca Brands was rumored to have made cuts to its metaverse fund. Despite these setbacks, OKX remains committed to exploring the possibilities of Web3 and providing fans with immersive experiences.

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Animoca Brands Cuts Metaverse Fund Target to $800M

by Blockchain News

In recent news, Animoca Brands has reportedly reduced its target for its metaverse fund by a further 20% to $800 million, according to sources familiar with the matter. The company has scaled back on its billion-dollar goal due to the volatility in the crypto sector. Animoca Brands had previously announced in November 2022 that it was working on a new Animoca Capital fund with a target of $2 billion, but then halved that target to $1 billion in January 2023.

Two sources familiar with the matter disclosed that Animoca Brands’ market capitalization, which was previously valued at roughly $6 billion following a Temasek-led financing round in July 2022, has fallen to below $2 billion. The sources also shared that the company’s shares are trading at a considerably lower valuation in secondary markets. The decreased fundraising target and declining valuation signal a change in sentiment on the crypto industry, as excitement around such technologies has dwindled following scandals ranging from the collapse of FTX to the bankruptcy of several crypto lenders.

In 2022, Animoca Brands was named the most funded metaverse developer by Nasdaq, with Animoca having the most metaverse deals in 2022, closing 15 deals and receiving over $564 million in funding. As a prominent player in the metaverse industry, Animoca Brands holds a majority stake in The Sandbox, a leading metaverse platform. Apart from this investment, the company has actively participated in developing nonfungible tokens (NFTs) and GameFi.

Yat Siu, one of Animoca Brands’ co-founders, has stated that GameFi is expected to become one of the main gateways for the general public to access the metaverse. With the decreasing target for its metaverse fund and declining market capitalization, Animoca Brands’ focus may shift towards developing GameFi and other related projects.

It is worth noting that the metaverse has been a hot topic in the tech industry, with companies like Facebook and Roblox investing heavily in it. However, the hype around the metaverse has been tempered by concerns about its potential impact on privacy, security, and social inequality. As the metaverse industry evolves, it will be interesting to see how companies like Animoca Brands adapt and navigate the challenges and opportunities that lie ahead.

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Nissan Expands Web3 Efforts with Trademarks and Metaverse Auto Sales

by Blockchain News

Nissan has become the latest car manufacturer to increase its Web3 efforts by filing four new Web3-related trademarks in the United States. The trademarks, filed with the United States Patent and Trademark Office (USPTO) on March 7, cover its Infiniti, Nismo, and Nissan brands. The filings reveal Nissan’s plans to create virtual goods such as clothes, cars, headgear, trading cards, toys, tickets, and a nonfungible token (NFT) marketplace for trading and minting NFTs. Additionally, the company has outlined plans for metaverse advertising services and other “entertainment services” covering online video, images, artwork, tickets, audio, sounds, music, and trading cards. Nissan also plans to create a website with information about its proposed NFTs and how they will work, as well as “non-downloadable computer software for use as a digital wallet.”

In addition to its Web3-related trademark filings, Nissan Japan announced on March 8 that it is conducting a three-month “demonstration experiment” of its virtual store “Nissan Hype Lab.” The virtual store allows customers to “study, consult, test drive and purchase Nissan vehicles” while in the metaverse. Customers can visit the virtual storefront “24 hours a day” via a PC or smartphone and can create their own customized avatars. During certain hours, customers can even interact with virtual sales staff. According to the announcement, customers can order the car and finalize purchase contracts through this virtual sales office. Nissan Japan plans to examine the possibility of new sales methods for cars through this trial, which runs from March 8 to June 30.

Nissan’s recent moves are in line with other car manufacturers, including General Motors and Ford, who have also been actively filing trademark applications for Web3, crypto, NFTs, and the metaverse. General Motors filed trademark applications covering its Chevrolet and Cadillac brands on Feb. 16, while Ford Motor Company filed 19 trademark applications across its major car brands in September 2022. According to trademark attorney Mike Kondoudis, the car brands’ filings signaled plans for NFT-backed media, online NFT marketplaces, digital wallets, NFT minting, trading, and storing software.

Despite the ongoing crypto winter and bear market, multinational corporations are still pushing forward with trademark applications covering Web3, crypto, NFTs, and the metaverse. Kondoudis said there were record numbers of trademark applications for NFTs, metaverse, and crypto-related products in 2022. As companies like Nissan continue to invest in Web3 and the metaverse, it is clear that they see the potential for these technologies to revolutionize not just the automotive industry, but many other industries as well.

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