Weekly Metaverse News #2: Meta Raised $10B to Support Metaverse Projects

A Metaverse is a fantastic place for acting out scenarios in which avatars represent people in settings such as offices or other locations. The Metaverse is a virtual environment that people may enter through their mobile devices, laptops, personal computers, or tablet computers.

This game-changing technology was developed to provide both technically savvy and non-technical people an advantage in their personal and professional lives.

As Metaverse is taking everyone’s attention, we created weekly updates about it for everyone interested. The following is a rundown of the most important Metaverse news to have taken place in the Metaverse during last week.

It’s possible that in the near future, a virtual island in the Metaverse that houses all of the world’s most visited monuments would start charging tourists as little as €2.

The so-called “VR City” would have its headquarters in the Metaverse and unite famous sights from around the world, such as Niagara Falls and the Great Wall of China.

As the reach of the Metaverse continues to broaden, the concept of “cyber tourism” is the most recent addition to be introduced to it.

Lenovo remains crucial in constructing enterprise-level metaverse solutions that can drive digital transformations, link distant employees, streamline corporate processes for improved continuity, and fulfill sustainability standards.

Expanding access to crypto and blockchain investment for SoFi Technologies’ user base, which is mainly composed of members of Generation Z and millennials, the company recently announced the creation of a new themed exchange-traded fund that will concentrate on Web3.

The launch takes place during a difficult moment for the financial technology giant amid a widespread crypto rout that has resulted in a substantial amount of value being lost by cryptocurrencies and crypto-firms.

The FishVerse, a decentralized AAA-type mobile fish-to-earn (F2E) fishing game, has successfully launched its innovative fishing ecosystem inside the Metaverse to provide players with the opportunity to experience something comparable to actual fishing.

The developers of the fish-to-earn fishing game issued a press release on August 9 confirming the debut of their innovative fishing ecosystem in the virtual world. The announcement was made in connection with the game.

Players will be able to experience something that comes as near as it possibly can to the feeling of really going fishing, thanks to a new ecosystem that uses the play-to-earn (P2E) idea.

When he visited the Future Interfaces Group (FIG) at Carnegie Mellon University, NBC’s Gadi Schwartz was able to get an up-close look at some of the experiences that users are able to experience when interacting with virtual environments.

Chris Harrison, an associate professor in the Human-Computer Interaction Institute and the director of the FIG Lab, and his research team are employing airborne ultrasound waves to create sensations on the lips, teeth, and tongue in an effort to develop a truly immersive virtual reality experience.

According to Sam Seo, director of the blockchain-based Klaytn Foundation, widespread adoption of the Metaverse will be “easier” if Web2 businesses incorporate the technology with their products and services.

During an interview with Cointelegraph on Monday at the Korea Blockchain Week (KBW), Seo offered his opinion that Web3 metaverse projects, in general, struggle to attract a mainstream audience. According to Seo, this is because regular people are often hesitant to use new technology developed by companies that they have never heard of:

“If new ideas are combined with Web2 platforms like [social media app] Kakao, especially in South Korea, there’s accessibility to these new ideas for new services that could be easier than just starting from scratch.”

The massive online streaming service Netflix has established a presence in the Decentraland.

It is doing this for two reasons: the first is to advertise its upcoming action movie “The Gray Man,” which stars Ryan Gosling and Chris Evans, and the second is to investigate new interactive methods in which a brand may engage with its customers electronically.

The movie is a suspenseful spy thriller, and Netflix’s activation of 45 parcels in Decentraland is appropriately referred to as a “Metaverse Mission.” The terrain from the film has been reproduced in the form of a labyrinth, and to go through it, users must demonstrate their familiarity with the film’s storyline at several checkpoints.

The phrase “NFTs,” which offer users decentralized asset ownership and real property via blockchain technology, is already common parlance and is known by everyone. 

In a similar vein, NFT domains are trending with a similar approach to giving users ownership rights. The main difference, however, is that these NFT domains can be stored as an asset, used to host a decentralized website, or even change the addresses of heavy digital wallets to make them human-readable. 

Quik.com is making it easier for people to mint their first NFT domains by providing the necessary infrastructure.

When it launches in the Metaverse, Emirates Health Services (EHS) will be the first health authority anywhere in the world to do so. The authority will employ virtual reality and other technology to improve access to medical consultations online and provide more people with the opportunity to use health care services.

By the end of the year 2022, the EHS hopes to have launched and begun offering mental health consultations in addition to customer happiness services. Family health counseling is anticipated to be made available by the end of the first quarter of 2023.

This week at the SIGGRAPH 2022 conference, Nvidia is showcasing its newest software advancements for computer graphics. There is an increasing overlap between computer graphics, the metaverse, and AI, and that overlap is exactly what is on exhibit at this conference.

On Tuesday, Meta Platforms, the parent company of Facebook, made its debut on the bond market by successfully raising $10 billion in its first bond issue. 

The giant technology company plans to use the newly generated funds to restructure its operations and support share repurchases. The company owns Facebook, Instagram, and WhatsApp, among its many products and services. 

The company’s money from the sale of bonds is going toward funding some costly projects, such as the company’s virtual reality metaverse, among other things.

The East 3D Virtual Fashion Show is a one-of-a-kind 3D fashion show that was produced in collaboration between China Graduate Fashion Week, a worldwide artificial intelligence business called Heartdub, and other organizations. 

This one-of-a-kind presentation was titled “The Zen of Circulation.” It showcased a variety of technology and eastern-inspired aesthetic aspects through the use of apparel and accessories.

That is it for this week. Stay tuned for our future releases if you want to keep yourself updated and follow the latest Metaverse news.