Transmissions from the Metaverse #3
The metaverse is proving time and again that its expansion is unstoppable and unrelenting. Each new week brings us new projects, mainstream stakeholders joining the crowd, as well as countless innovations and changes within the sphere itself. This week, the metaverse was buzzing about a credit card giant, a social network, a DJ, a football star, and a project’s blockchain switcheroo.
The metaverse can’t be owned, it’s shared. No company can claim that they have their own metaverse, but instead they can be a part of it. The metaverse is a shared virtual space where people share information and value, while having ownership over digital assets and a digital identity. In this update we look at the latest developments from the metaverse. What’s new to be excited about?
Visa purchases its first NFT
Without much pomp, digital payments giant Visa has taken baby steps into the metaverse by purchasing its first NFT. The unique piece of digital art is worth $150,000 and is called CryptoPunk #7610. It is one of the 10,000 algorithmically generated 24×24 pixel images from the CryptoPunks collection. The artwork in question is an avatar of a female character with big green eyes, red lipstick, and a mohawk.
This purchase was facilitated by the newly licensed bank Anchorage, making it the first US bank to custody an NFT. Commenting on this, Visa’s head of crypto Cuy Sheffield expressed the company’s belief in the NFTs’ crucial role in the future of retail, social media, entertainment, and commerce. This is why the company wanted to get familiar with the experience of acquiring, custodying, and interacting with an NFT.
Facebook serious about metaverse: Horizon Workrooms
Many were skeptical when Mark Zuckerberg first announced his determination to push his social networking platform into the metaverse and with it, the new era. However, the man’s already taken action. Namely, Facebook has recently held a beta test of the new virtual reality (VR) app for users of the Oculus Quest 2 VR headset.
Through this app, called Horizon Workrooms, users can have avatar versions of themselves holding and participating in meetings. In Horizon Workrooms, you get your own virtual desk and you can use your laptop as you watch your virtualized hands type away. The purpose of this concept is to connect people in hybrid-work and remote-work environments.
DJ Steve Aoki Making NFT TV Show
After the stellar success of his NFT sale earlier this month, DJ Steve Aoki has more in store for the metaverse project that made it all happen. Namely, his stop-motion short Dominion X has secured financing for a “proper pilot” episode of his collaboration with Seth Green production company Stoopid Buddy Stoodios. In the initial sale, the project sold 500 NFTs (splices of the “level 1” episode) on Nifty Gateway in just 30 seconds, emboldening Aoki to pursue the pilot funding.
As large networks like Fox begin taking interest in NFTs, projects such as this one might help bridge the gap between television and the metaverse. Aoki himself believes NFTs will certainly become part of our culture in the next five years.
Lionel Messi Has NFT Collection Messiverse
NFTs in sports is no longer a new thing, as more and more stars jump on the bandwagon. The newest is football superstar Lionel Messi. The 34-year-old Argentinian player is featured on a collection of NFTs called Messiverse containing images of him as a superhero, a Greek Titan, and a king – just to name a few. The artwork is hosted on Ethernity Chain and was created by Australian digital artist BossLogic, who has also worked with Marvel and Disney. One of the NFTs sold for more than $1 million!
This event coincides with another turning point for Messi, who recently finished his 20-year term in FC Barcelona and switched to French club Paris Saint-Germain. Thanks to this move, the price of the French club’s PSG fan token increased 100% within only four days after the news broke out. Messi has also received a large number of PSG tokens as part of his welcome package.
Terra Virtua from Ethereum to Polygon
Existing metaverse projects are making headlines too, with changes in their established modus operandi. Specifically, immersive digital collectibles platform Terra Virtua has announced its relocation from the Ethereum blockchain to Polygon. You can read more about Polygon in our guide.
The platform has reportedly carried out the switch in an effort to reduce the energy used to create its NFTs by more than 99% and thus limit the impact on the environment. This way, it aims to help in addressing the issue that has long plagued the metaverse community – the sheer amount of energy involved in creating a single NFT, which is enough to publish 83 paperback books. Now, this energy level is reduced to one required to send only two emails.
To be continued
And there you have it – another week has gone by, teeming with exciting goings-on in the metaverse sphere. It has not only gotten richer by more exciting content, but its existing projects have also undergone some overhauls. We’re excited to see what the following weeks and months have in store for us, and we’re willing to bet you are too.