Sotheby’s and Ledger have officially announced a partnership .
The partnership includes two main components, a co-branded Ledger Nano X that will be exclusively presented to buyers of premier digital art auction lots via Sotheby’s, as well as co-branded and curated educational content that will be developed through Ledger Academy and published to Sotheby’s Metaverse.
The partnership includes two main components, a co-branded Ledger Nano X that will be exclusively presented to buyers of premier digital art auction lots via Sotheby’s, as well as co-branded and curated educational content that will be developed through Ledger Academy and published to Sotheby’s Metaverse.
💰 Bitcoin Ordinals Growing Despite NFT Market Downturn: Report
Bitcoin’s growth shows no signs of slowing down, according to data. This week, Galaxy Research and Mining published a second report in their series on Bitcoin Inscriptions and Ordinals. Galaxy Research and Mining is a digital asset and blockchain firm that has been developing a comprehensive financial platform since 2018. Its platform offers services like trading, lending, investment solutions, bitcoin mining, and more. The most recent report delves into the advancements and changes in this domain since that time. According to the report, in the first 200 days of Bitcoin Ordinals, 1.14 million image-based inscriptions were created. This growth is faster than the first 200 days of NFTs on Ethereum, Solana, and Polygon combined. This report does not include volume from BRC-20 tokens. However, even without BRC-20 token inclusion, Bitcoin remains as the third most popular chain for digital collectible activity. It’s important to note that despite this upward trend, overall NFT trading volumes across all chains have been on the decline. According to data from Cryptoslam, NFT sales dropped 8.7%, from 4.2 billion in September 2021 to $3.8 billion in October 2023.
Bitcoin’s growth shows no signs of slowing down, according to data. This week, Galaxy Research and Mining published a second report in their series on Bitcoin Inscriptions and Ordinals. Galaxy Research and Mining is a digital asset and blockchain firm that has been developing a comprehensive financial platform since 2018. Its platform offers services like trading, lending, investment solutions, bitcoin mining, and more. The most recent report delves into the advancements and changes in this domain since that time. According to the report, in the first 200 days of Bitcoin Ordinals, 1.14 million image-based inscriptions were created. This growth is faster than the first 200 days of NFTs on Ethereum, Solana, and Polygon combined. This report does not include volume from BRC-20 tokens. However, even without BRC-20 token inclusion, Bitcoin remains as the third most popular chain for digital collectible activity. It’s important to note that despite this upward trend, overall NFT trading volumes across all chains have been on the decline. According to data from Cryptoslam, NFT sales dropped 8.7%, from 4.2 billion in September 2021 to $3.8 billion in October 2023.
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Nifty Gateway’s recent decision has sparked significant debate within the artist community.
On Sept. 27, the leading NFT marketplace platform sent its Publishers an email outlining a significant policy change.
The platform, which launched its Publisher feature in Sept. 2022 to foster a broader spectrum of creators, has now decided to raise the bar to entry.
Its new criteria to evaluate Publishers now has a threshold set at an average Gross Merchandise Value (GMV) of $750 per drop. Publishers who do not meet this standard have been informed they can no longer release new drops on the platform.
However, numerous artists, curators, and collectors who once championed the Publishers tool have voiced their concerns and dissatisfaction following the policy shift.
On Sept. 27, the leading NFT marketplace platform sent its Publishers an email outlining a significant policy change.
The platform, which launched its Publisher feature in Sept. 2022 to foster a broader spectrum of creators, has now decided to raise the bar to entry.
Its new criteria to evaluate Publishers now has a threshold set at an average Gross Merchandise Value (GMV) of $750 per drop. Publishers who do not meet this standard have been informed they can no longer release new drops on the platform.
However, numerous artists, curators, and collectors who once championed the Publishers tool have voiced their concerns and dissatisfaction following the policy shift.
💰 Bitcoin Ordinals Growing Despite NFT Market Downturn: Report
Bitcoin’s growth shows no signs of slowing down, according to data. This week, Galaxy Research and Mining published a second report in their series on Bitcoin Inscriptions and Ordinals. Galaxy Research and Mining is a digital asset and blockchain firm that has been developing a comprehensive financial platform since 2018. Its platform offers services like trading, lending, investment solutions, bitcoin mining, and more. The most recent report delves into the advancements and changes in this domain since that time. According to the report, in the first 200 days of Bitcoin Ordinals, 1.14 million image-based inscriptions were created. This growth is faster than the first 200 days of NFTs on Ethereum, Solana, and Polygon combined. This report does not include volume from BRC-20 tokens. However, even without BRC-20 token inclusion, Bitcoin remains as the third most popular chain for digital collectible activity. It’s important to note that despite this upward trend, overall NFT trading volumes across all chains have been on the decline. According to data from Cryptoslam, NFT sales dropped 8.7%, from 4.2 billion in September 2021 to $3.8 billion in October 2023.
Bitcoin’s growth shows no signs of slowing down, according to data. This week, Galaxy Research and Mining published a second report in their series on Bitcoin Inscriptions and Ordinals. Galaxy Research and Mining is a digital asset and blockchain firm that has been developing a comprehensive financial platform since 2018. Its platform offers services like trading, lending, investment solutions, bitcoin mining, and more. The most recent report delves into the advancements and changes in this domain since that time. According to the report, in the first 200 days of Bitcoin Ordinals, 1.14 million image-based inscriptions were created. This growth is faster than the first 200 days of NFTs on Ethereum, Solana, and Polygon combined. This report does not include volume from BRC-20 tokens. However, even without BRC-20 token inclusion, Bitcoin remains as the third most popular chain for digital collectible activity. It’s important to note that despite this upward trend, overall NFT trading volumes across all chains have been on the decline. According to data from Cryptoslam, NFT sales dropped 8.7%, from 4.2 billion in September 2021 to $3.8 billion in October 2023.
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Refikanadol presented his latest work, "Machine Simulations: Life and Dreams," allowing the public to experience his artistry.
The work was initiated by Archie Ravishankar and Mikolajsekutowicz, and commissioned by Impact One Initiative in collaboration with Therme Art Program for Hanwha Lifeplus.
According to Therme Art Program, the piece represents "Korean urban life" as well as "LIFEPLUS themes of physical, mental, financial, and inspirational wellness."
The work was initiated by Archie Ravishankar and Mikolajsekutowicz, and commissioned by Impact One Initiative in collaboration with Therme Art Program for Hanwha Lifeplus.
According to Therme Art Program, the piece represents "Korean urban life" as well as "LIFEPLUS themes of physical, mental, financial, and inspirational wellness."
🔫 Epic Games lays off 800 employees and announces financial restructuring
Epic Games, known for its hit game Fortnite and the Unreal Engine, shocked the market by laying off more than 800 employees in a drastic financial restructuring. Tim Sweeney, the company’s CEO, broke his silence and explained the reasons behind this sudden decision. According to Sweeney, the financial difficulties that led to this action were only seen about ten weeks ago. He revealed that the issue came to his desk in July, and the company realized it needed to act quickly to avoid financial collapse. “We realized that we are facing a financial problem that needs to be solved immediately. This is really a process of reconciling our business model with the reality that will eventually come to all companies. We got away from that for a while with Fortnite and got it back – but we got to a scale of almost 4,000 people working as we got less and less money. And we’re desperate now that we have to act differently to make sure we don’t go back to these types of conditions,” Sweeney said. The CEO also admitted that Epic Games was at fault for overspending. “We’ve spent more money than we’ve made, investing in the next step of the company and the growing ecosystem inspired by Metaverse for Fortnite creators. I’m very optimistic that I think we can make this whole transition without layoffs, but in retrospect I wasn’t realistic enough,” Sweeney admitted.
Epic Games, known for its hit game Fortnite and the Unreal Engine, shocked the market by laying off more than 800 employees in a drastic financial restructuring. Tim Sweeney, the company’s CEO, broke his silence and explained the reasons behind this sudden decision. According to Sweeney, the financial difficulties that led to this action were only seen about ten weeks ago. He revealed that the issue came to his desk in July, and the company realized it needed to act quickly to avoid financial collapse. “We realized that we are facing a financial problem that needs to be solved immediately. This is really a process of reconciling our business model with the reality that will eventually come to all companies. We got away from that for a while with Fortnite and got it back – but we got to a scale of almost 4,000 people working as we got less and less money. And we’re desperate now that we have to act differently to make sure we don’t go back to these types of conditions,” Sweeney said. The CEO also admitted that Epic Games was at fault for overspending. “We’ve spent more money than we’ve made, investing in the next step of the company and the growing ecosystem inspired by Metaverse for Fortnite creators. I’m very optimistic that I think we can make this whole transition without layoffs, but in retrospect I wasn’t realistic enough,” Sweeney admitted.
Wellness NFT YogaPetz Sells Out In Less Than 45 Minutes With A Value Close To $3 Million
Yogapetz is thrilled to announce the remarkable success of their latest release, the Wellness NFT YogaPetz collection, which experienced an astounding 130% over-subscription rate. Within a mere 45 minutes, the entire 10,000-piece collection was completely sold out, generating an impressive sum of 1,761 ETH, equivalent to approximately USD 3 million in sales. This groundbreaking achievement occurred on August 31, 2023, despite the challenging market environment for NFTs during the prevailing winter season.
Yogapetz is thrilled to announce the remarkable success of their latest release, the Wellness NFT YogaPetz collection, which experienced an astounding 130% over-subscription rate. Within a mere 45 minutes, the entire 10,000-piece collection was completely sold out, generating an impressive sum of 1,761 ETH, equivalent to approximately USD 3 million in sales. This groundbreaking achievement occurred on August 31, 2023, despite the challenging market environment for NFTs during the prevailing winter season.
🖼 Clay Nation launches Cardano-Polygon NFT bridge in The Sandbox
Clay Nation, a project of 10,000 non-fungible tokens (NFTs), announced the launch of a new blockchain bridge for Cardano and Polygon networks in The Sandbox metaverse. The new bridge, launched in partnership with Hong Kong-based metaverse firm The Sandbox, enables Clay Nation holders to use their Cardano-based NFTs as avatars in The Sandbox game on Polygon, while still keeping the NFTs on Cardano. The NFT market has seen its sales dropping in recent weeks with the Forkast 500 NFT index, a proxy measure for the performance of the top 500 NFTs across various blockchains. The new bridge, launched in partnership with Hong Kong-based metaverse firm The Sandbox, enables Clay Nation holders to use their Cardano-based NFTs as avatars in The Sandbox game on Polygon, while still keeping the NFTs on Cardano. The NFT market has seen its sales dropping in recent weeks with the Forkast 500 NFT index, a proxy measure for the performance of the top 500 NFTs across various blockchains, reaching a new all-time low of 1,871.98 points on Saturday. Clay Nation’s daily sales rose 129% to US$5,685 in the 24 hours leading up to 07:55 p.m. in Hong Kong, according to CryptoSlam data. The Forkast CAR NFT Composite reached a new all-time low of 880.26 points on Sept. 28 and is down 31% year-to-date. The Forkast POL NFT Composite is down 11.15% year-to-date after it fell to a new all-time low of 645.99 points on Monday.
Clay Nation, a project of 10,000 non-fungible tokens (NFTs), announced the launch of a new blockchain bridge for Cardano and Polygon networks in The Sandbox metaverse. The new bridge, launched in partnership with Hong Kong-based metaverse firm The Sandbox, enables Clay Nation holders to use their Cardano-based NFTs as avatars in The Sandbox game on Polygon, while still keeping the NFTs on Cardano. The NFT market has seen its sales dropping in recent weeks with the Forkast 500 NFT index, a proxy measure for the performance of the top 500 NFTs across various blockchains. The new bridge, launched in partnership with Hong Kong-based metaverse firm The Sandbox, enables Clay Nation holders to use their Cardano-based NFTs as avatars in The Sandbox game on Polygon, while still keeping the NFTs on Cardano. The NFT market has seen its sales dropping in recent weeks with the Forkast 500 NFT index, a proxy measure for the performance of the top 500 NFTs across various blockchains, reaching a new all-time low of 1,871.98 points on Saturday. Clay Nation’s daily sales rose 129% to US$5,685 in the 24 hours leading up to 07:55 p.m. in Hong Kong, according to CryptoSlam data. The Forkast CAR NFT Composite reached a new all-time low of 880.26 points on Sept. 28 and is down 31% year-to-date. The Forkast POL NFT Composite is down 11.15% year-to-date after it fell to a new all-time low of 645.99 points on Monday.
💁6 months before the Bitcoin halving – are you ready for the bull market?
Look at the screenshot from 2019. Anyone could have bought BNB or MATIC and turned $100 into $10,000. No one knew what is BNB or MATIC back then.Now is 2023. Do you know what LayerZero or Venom is?
Follow AltLex to not miss the bull run profits – https://t.me/+L-DumrqRKgE4N2Fl
Look at the screenshot from 2019. Anyone could have bought BNB or MATIC and turned $100 into $10,000. No one knew what is BNB or MATIC back then.Now is 2023. Do you know what LayerZero or Venom is?
Follow AltLex to not miss the bull run profits – https://t.me/+L-DumrqRKgE4N2Fl
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Donald Trump’s Second NFT Sales Soar 350% Amidst Speculation of Ex-President Assuming House Speaker Role
The spike in sales can be attributed to the recent removal of Rep. Kevin McCarthy (R-Calif.) as the Speaker of the House of Representatives, a significant event in American political history. Following this development, speculation has arisen among members of the House regarding the possibility of former President Donald Trump assuming the position of Speaker of the House. Trump addressed this matter in a press statement delivered in New York on Wednesday, acknowledging that he has received numerous inquiries about the speaker role.
The popularity of Trump NFTs has been evident since the launch of the first collection by the company behind Trump Digital Trading Cards. Remarkably, the initial collection achieved the impressive feat of selling 45,000 trading cards within a span of under 12 hours.
The spike in sales can be attributed to the recent removal of Rep. Kevin McCarthy (R-Calif.) as the Speaker of the House of Representatives, a significant event in American political history. Following this development, speculation has arisen among members of the House regarding the possibility of former President Donald Trump assuming the position of Speaker of the House. Trump addressed this matter in a press statement delivered in New York on Wednesday, acknowledging that he has received numerous inquiries about the speaker role.
The popularity of Trump NFTs has been evident since the launch of the first collection by the company behind Trump Digital Trading Cards. Remarkably, the initial collection achieved the impressive feat of selling 45,000 trading cards within a span of under 12 hours.
🖼 Ben Armstrong’s Decision to Sell His Bored Ape NFT Sparks Controversy and Criticism
The Bored Ape Yacht Club, created by Yuga Labs, has gained significant popularity within the NFT space. Each Bored Ape NFT represents a unique and distinct digital collectible, featuring various combinations of ape characters with different traits and accessories. Owners of these NFTs gain access to exclusive benefits and perks within the Bored Ape community. In a recent blog post, Ben Armstrong surprised the crypto community by revealing his decision to auction his Bored Ape Yacht Club NFT. The specific NFT up for sale is the highly desirable Bored Ape Yacht Club #8424. To sweeten the deal, Ben Armstrong has also offered a physical statue valued at approximately $10,000 and an accompanying painting worth $2,500. These additional physical pieces add an extra layer of exclusivity and value to the overall package. Born in 1982, Ben Armstrong has made a name for himself in the world of alt-finance and cryptocurrency. As an American YouTuber, he has garnered a substantial following through his engaging podcasts on the BitBoy Crypto YouTube channel and his informative website. With over 1.5 million YouTube subscribers and 1 million Twitter followers, Ben has become a prominent figure in the crypto community. BitBoy Crypto, Ben Armstrong’s platform, has flourished through strategic investments in cryptocurrencies and collaborations with prominent projects, exchanges, and funds.
The Bored Ape Yacht Club, created by Yuga Labs, has gained significant popularity within the NFT space. Each Bored Ape NFT represents a unique and distinct digital collectible, featuring various combinations of ape characters with different traits and accessories. Owners of these NFTs gain access to exclusive benefits and perks within the Bored Ape community. In a recent blog post, Ben Armstrong surprised the crypto community by revealing his decision to auction his Bored Ape Yacht Club NFT. The specific NFT up for sale is the highly desirable Bored Ape Yacht Club #8424. To sweeten the deal, Ben Armstrong has also offered a physical statue valued at approximately $10,000 and an accompanying painting worth $2,500. These additional physical pieces add an extra layer of exclusivity and value to the overall package. Born in 1982, Ben Armstrong has made a name for himself in the world of alt-finance and cryptocurrency. As an American YouTuber, he has garnered a substantial following through his engaging podcasts on the BitBoy Crypto YouTube channel and his informative website. With over 1.5 million YouTube subscribers and 1 million Twitter followers, Ben has become a prominent figure in the crypto community. BitBoy Crypto, Ben Armstrong’s platform, has flourished through strategic investments in cryptocurrencies and collaborations with prominent projects, exchanges, and funds.
Art Token launches Hangeul-based NFT art
Online non-fungible token art trading platform Art Token on Monday released NFT works based on Hangeul calligraphy, in commemoration of Hangeul Day that celebrates the invention of the Korean alphabet. Byung-chul and converted into 3D digital art. NFT art is entirely digital artwork that is tokenized to be stored on the blockchain. “Shoot Shoot Shoot Goal Goal Goal” and other works were created by calligrapher Park Park's NFT works were released on 2R2, an online global art trading platform run by Art Token.
Park is a renowned calligrapher in South Korea and an art director for company called Hangeul Planet that has held Hangeul calligraphy events across the world since 2015.
Online non-fungible token art trading platform Art Token on Monday released NFT works based on Hangeul calligraphy, in commemoration of Hangeul Day that celebrates the invention of the Korean alphabet. Byung-chul and converted into 3D digital art. NFT art is entirely digital artwork that is tokenized to be stored on the blockchain. “Shoot Shoot Shoot Goal Goal Goal” and other works were created by calligrapher Park Park's NFT works were released on 2R2, an online global art trading platform run by Art Token.
Park is a renowned calligrapher in South Korea and an art director for company called Hangeul Planet that has held Hangeul calligraphy events across the world since 2015.
🇬🇧 U.K. Group Calls for NFT Copyright Infringement Safeguards and Code of Conduct
A U.K. committee that consists of members from different political parties wants the nation’s government to work with non-fungible token marketplaces to address copyright infringement and introduce a code of conduct to better protect creators, according to a report released Wednesday. Copyright infringement can occur when an NFT is created from a creative work without permission from the creators and owners. There have been several legal disputes in the U.K. and U.S. “Artists are at risk of seeing the fruits of their hard work pinched and promoted without permission while fraudulent and misleading adverts add an extra layer of jeopardy for investors involved in what is already an inherently risky business,” Dame Caroline Dinenage MP, chair of the Culture, Media and Sport Committee, said in an accompanying press release. Some U.K. football clubs have been releasing tokens that give members access to membership perks like voting on club decisions, merchandise and unique experiences. “We are also concerned that clubs may present fan tokens as an appropriate form of fan engagement in the future, despite their price volatility and reservations among fan groups,” the report said.
A U.K. committee that consists of members from different political parties wants the nation’s government to work with non-fungible token marketplaces to address copyright infringement and introduce a code of conduct to better protect creators, according to a report released Wednesday. Copyright infringement can occur when an NFT is created from a creative work without permission from the creators and owners. There have been several legal disputes in the U.K. and U.S. “Artists are at risk of seeing the fruits of their hard work pinched and promoted without permission while fraudulent and misleading adverts add an extra layer of jeopardy for investors involved in what is already an inherently risky business,” Dame Caroline Dinenage MP, chair of the Culture, Media and Sport Committee, said in an accompanying press release. Some U.K. football clubs have been releasing tokens that give members access to membership perks like voting on club decisions, merchandise and unique experiences. “We are also concerned that clubs may present fan tokens as an appropriate form of fan engagement in the future, despite their price volatility and reservations among fan groups,” the report said.
Web3 game developer Immutable announced its partnership with Amazon Web Services, joining Amazon’s ISV Accelerate Program.
The co-sell program enables organizations that provide software solutions to work with Immutable to leverage expert AWS resources, including offering Immutable customers AWS cloud credits.
Through AWS Activate, Immutable is able to grant AWS cloud credits up to $100,000 in cloud services for Immutable’s customers.
At the heart of the partnership is a synthesis of cloud data with Ethereum, underscoring a promising blueprint for blockchain gaming.
Immutable, backed by AWS, is not just offering a platform; it’s laying the foundation for an integrated web3 gaming cosmos.
The co-sell program enables organizations that provide software solutions to work with Immutable to leverage expert AWS resources, including offering Immutable customers AWS cloud credits.
Through AWS Activate, Immutable is able to grant AWS cloud credits up to $100,000 in cloud services for Immutable’s customers.
At the heart of the partnership is a synthesis of cloud data with Ethereum, underscoring a promising blueprint for blockchain gaming.
Immutable, backed by AWS, is not just offering a platform; it’s laying the foundation for an integrated web3 gaming cosmos.
🇨🇳 China Daily to Launch NFT and Metaverse Platform
China Daily, the prominent English-language newspaper steered by the Publicity Department of the Chinese Communist Party, announced the launch of its own metaverse and NFT platform. According to the announcement and Tender Offer invitation, China Daily is awarding approximately $390,000 (2.813 Chinese yuan) to a third-party contractor (either a Chinese or foreign firm that specializes in blockchain) that can develop the Zhongbao Shuzang NFT issuance platform within three months. After both parties confirm the form of the digital collection, a single digital collection must be developed and launched for online distribution and promotion within one month. In addition, the mainnet of the blockchain firm that wins the contract must be capable of handling upwards of 10,000 transactions per second. China Daily emphasized four crucial elements underlying its metaverse project, described as the cornerstone of its broader initiative. This new venture will focus on refreshing both domestic and international NFT digital assets, with each NFT undergoing a one-month development phase before its online release. Concurrently, AR/VR creations are slated for promotion within two months. Furthermore, the newspaper has outlined a two-month window for finalizing the development and layout of its unique metaverse space.
China Daily, the prominent English-language newspaper steered by the Publicity Department of the Chinese Communist Party, announced the launch of its own metaverse and NFT platform. According to the announcement and Tender Offer invitation, China Daily is awarding approximately $390,000 (2.813 Chinese yuan) to a third-party contractor (either a Chinese or foreign firm that specializes in blockchain) that can develop the Zhongbao Shuzang NFT issuance platform within three months. After both parties confirm the form of the digital collection, a single digital collection must be developed and launched for online distribution and promotion within one month. In addition, the mainnet of the blockchain firm that wins the contract must be capable of handling upwards of 10,000 transactions per second. China Daily emphasized four crucial elements underlying its metaverse project, described as the cornerstone of its broader initiative. This new venture will focus on refreshing both domestic and international NFT digital assets, with each NFT undergoing a one-month development phase before its online release. Concurrently, AR/VR creations are slated for promotion within two months. Furthermore, the newspaper has outlined a two-month window for finalizing the development and layout of its unique metaverse space.
How do NFTs work?
At a very high level, most NFTs are part of the Ethereum blockchain. Ethereum is a cryptocurrency, like bitcoin or dogecoin, but its blockchain also supports these NFTs, which store extra information that makes them work differently from, say, an ETH coin. It is worth noting that other blockchains can implement their own versions of NFTs.
At a very high level, most NFTs are part of the Ethereum blockchain. Ethereum is a cryptocurrency, like bitcoin or dogecoin, but its blockchain also supports these NFTs, which store extra information that makes them work differently from, say, an ETH coin. It is worth noting that other blockchains can implement their own versions of NFTs.
🔫 Microsoft’s Activision buy may see more metaverse in the office and crypto in gaming
A lot was said about the metaverse when the Microsoft deal to acquire Activision Blizzard was announced in January 2022. The attention was mainly on business communications rather than gaming. If public statements and leaked documents are any guide, the Activision deal could promise more for the future of crypto than the metaverse. The metaverse had high visibility in Microsoft’s announcement of its deal for Activision in January 2002. Nadella’s emphasis on work is telling. He listed four things and referred to them as “all three” — apparently, “meetings and games” count as one. Microsoft’s metaverse platform, Mesh, which began previews this month, is positioned as a complement to its Teams business communications platform. Spencer questioned what the metaverse even is in an interview with Bloomberg in August. “My view on Metaverse is that gamers have been in the Metaverse for 30 years,” he said. He said little about the Web3 metaverse except that he was “cautious” about play-to-earn. He was later quoted as calling the metaverse “a poorly built videogame” and saying, “Building a metaverse that looks like a meeting room, I just find that’s not where I want to spend most of my time.”
A lot was said about the metaverse when the Microsoft deal to acquire Activision Blizzard was announced in January 2022. The attention was mainly on business communications rather than gaming. If public statements and leaked documents are any guide, the Activision deal could promise more for the future of crypto than the metaverse. The metaverse had high visibility in Microsoft’s announcement of its deal for Activision in January 2002. Nadella’s emphasis on work is telling. He listed four things and referred to them as “all three” — apparently, “meetings and games” count as one. Microsoft’s metaverse platform, Mesh, which began previews this month, is positioned as a complement to its Teams business communications platform. Spencer questioned what the metaverse even is in an interview with Bloomberg in August. “My view on Metaverse is that gamers have been in the Metaverse for 30 years,” he said. He said little about the Web3 metaverse except that he was “cautious” about play-to-earn. He was later quoted as calling the metaverse “a poorly built videogame” and saying, “Building a metaverse that looks like a meeting room, I just find that’s not where I want to spend most of my time.”
NFTs of digital land is a growing market
Virtual worlds like Decentraland and The Sandbox are paving the way for digital real estate. Leveraging NFTs, these platforms allow users to not only inhabit and interact with virtual worlds but buy, sell, and own the land within it, developing on it as they see fit. With plot sales now reaching the $1 million mark, the market is set to explode.
Virtual worlds like Decentraland and The Sandbox are paving the way for digital real estate. Leveraging NFTs, these platforms allow users to not only inhabit and interact with virtual worlds but buy, sell, and own the land within it, developing on it as they see fit. With plot sales now reaching the $1 million mark, the market is set to explode.
📊 Metaverse In Automotive to Reach $27.18 billion, Globally, by 2032 at 29.9% CAGR: Allied Market Research
Allied Market Research published a report, titled, "Metaverse in Automotive Market by product (Hardware, Software), Technology (Virtual Reality, Augmented Reality, Mixed Reality), and Application (Simulation, Testing and Designing, Advertising, Online Car Purchasing): Global Opportunity Analysis and Industry Forecast, 2022-2032". According to the report, the global metaverse in automotive market generated $2.18 billion in 2022, and is anticipated to generate $27.18 billion by 2032, witnessing a CAGR of 29.9% from 2023 to 2032. Factors such as surge in focus on leveraging the metaverse for marketing campaigns, increase in demand for modern vehicle shopping experiences with immersive virtual showrooms, and growing demand for intuitive metaverse design for product development and manufacturing. However, car maintenance and repairs by metaverse, and incorporation of metaverse in automotive infotainment are anticipated to hinder market growth. On the other hand, cost associated with installing and maintaining premium components and issues related to cybersecurity and privacy provide a remarkable growth opportunity for the market players operating in the market.
Allied Market Research published a report, titled, "Metaverse in Automotive Market by product (Hardware, Software), Technology (Virtual Reality, Augmented Reality, Mixed Reality), and Application (Simulation, Testing and Designing, Advertising, Online Car Purchasing): Global Opportunity Analysis and Industry Forecast, 2022-2032". According to the report, the global metaverse in automotive market generated $2.18 billion in 2022, and is anticipated to generate $27.18 billion by 2032, witnessing a CAGR of 29.9% from 2023 to 2032. Factors such as surge in focus on leveraging the metaverse for marketing campaigns, increase in demand for modern vehicle shopping experiences with immersive virtual showrooms, and growing demand for intuitive metaverse design for product development and manufacturing. However, car maintenance and repairs by metaverse, and incorporation of metaverse in automotive infotainment are anticipated to hinder market growth. On the other hand, cost associated with installing and maintaining premium components and issues related to cybersecurity and privacy provide a remarkable growth opportunity for the market players operating in the market.
