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Metaverse: UAE Ministry of Economy now has a new address

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The Middle East has repeatedly stated its interest in cutting-edge technology. Many have undoubtedly been drawn in by the Metaverse. Saudi Arabia, the United Arab Emirates (UAE), and other nations in the area have been making significant investments in the online world. But with its most recent declaration, the UAE made the decision to enter the virtual realm.

The brand-new headquarters of the UAE Ministry of Economy will be situated in the Metaverse, according to the ministry. Abdulla bin Touq Al Marri, Minister of Economy, stated during his speech at the Dubai Metaverse Assembly that this was the ministry’s third address and wasn’t just a proof-of-concept.

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Abdulla bin Touq Al Marri, UAE’s Minister of Economy

There are now two offices for the Ministry in the UAE. One is seated in Abu Dhabi, and the other is in Dubai. The metaverse office would be its third, as was previously announced.

On the first day alone, the Dubai Metaverse Assembly attracted nearly 20,000 attendees. The virtual headquarters was demonstrated live for attendees, who noticed that anyone in the world may go there.

The corporate headquarters was a tall structure. In order to enter the building, guests would need to purchase a ticket. Its numerous floors are expected to each have a specific function.

A sneak peak into the metaverse HQ

The avatar for the ministry in the metaverse, Khalifa Al Jaziri, emphasized that because the metaverse is a 3D environment, voice prompts would be used for interactions.

People no longer need to visit the ministry’s physical location because all of its services are provided in the virtual world. In the digital office, for instance, contracts could supposedly be signed. Jaziri further said,

“So, anyone around the world who has a transaction with the ministry no longer has to come to the UAE to sign an agreement.”

The UAE’s most recent action has undoubtedly helped the nation advance in the virtual world’s race. While other nations were still looking into the potential of the technology, the UAE has already begun to develop it.

Axie Infinity and Revolutux: Two Metaverse Compatible Projects With Well Developed NFT Marketplaces 

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The metaverse is one of the countless opportunities for crypto enthusiasts to make money while doing what they love. Axie Infinity (AXS) and Revolutux (RVLT) are metaverse compatible cryptocurrencies. 

Although Axie Infinity (AXS) and Revolutux (RVLT) have different features, they provide a platform for users to interact with the metaverse and earn massive rewards.

Axie Infinity (AXS) is a virtual gaming platform on which users can earn tokens and NFTs while playing the game. Revolutux (RVLT) allows its users to create and trade Non-fungible tokens. These are enriching opportunities that crypto enthusiasts can utilize to make money. 

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Axie Infinity and Revolutux: Two Metaverse Compatible Projects With Well Developed NFT Marketplaces  4

Shiba Inu (SHIB) is another crypto project that holds out high rewards for its users. Unlike Axie Infinity (AXS) and Revolutux (RVLT), it is a memecoin with unique features. This article will highlight the features of the Revolutux (RVLT) cryptocurrency while comparing it with Axie Infinity (AXS) and Shiba Inu (SHIB).

Features of the Revolutux (RVLT) 

Revolutux (RVLT) aims to develop a user-friendly, fast, and cheap platform for blockchain-based transactions. It utilizes the Binance Smart Chain network and its underlying infrastructure to accomplish this feature.

Revolutux (RVLT) is keen on transparency, decentralization, and long-term viability. The Revolutux (RVLT) ecosystem issues its community-managed deflationary cryptocurrency to guarantee this functionality.

The Revolutux (RVLT) native cryptocurrency “RVLT” has a total supply of 50 billion tokens. This volume will be decreased over time to create scarcity and increase its value. Burning within the Revolutux (RVLT) ecosystem takes place periodically. 20% of all transaction fees within the Revolutux (RVLT) ecosystem are burnt. 

Additionally, Revolutux (RVLT) token holders can participate in the governing process that determines the future of the Revolutux (RVLT) ecosystem. This member involvement makes them feel involved in the growth of the ecosystem. 

The Revolutux (RVLT) ecosystem has an active reward redistribution system for all its users. This redistribution occurs as 50% of all transaction fees are returned to the wallets of RVLT holders. 

Features Of The Axie Infinity (AXS) Ecosystem 

Axie Infinity (AXS) is an Ethereum blockchain-based metaverse project. Like the Revolutux (RVLT) ecosystem, it allows users to create, own, and trade Non-fungible tokens. 

Axie Infinity (AXS) is a virtual gaming platform where users can purchase and own NFT-like in-game assets. These in-game assets can be land or Axies. 

Axies are monster-like creatures used to engage in battles within the Axie Infinity metaverse. They can be purchased, raised, or bred within the Axie Infinity (AXS) platform. Like NFTs, Axies are unique assets. Each Axie’s specifications determine its strength and power.

Axies are bred to create new NFT-based in-game assets. The new Axies share similar traits with their parents, determined by their dominant and recessive qualities.

Like the Revolutux (RVLT) ecosystem, Axie Infinity (AXS) has a native NFT marketplace where users can exchange axies for cryptocurrencies. The AXS cryptocurrency powers transactions within the Axie Infinite ecosystem. 

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Axie Infinity and Revolutux: Two Metaverse Compatible Projects With Well Developed NFT Marketplaces  5

Features of the Shiba Inu (SHIB) Ecosystem

The Shiba Inu cryptocurrency differs from the Revolutux (RVLT) and Axie Infinity cryptocurrencies. The Shiba Inu cryptocurrency was created as a meme coin in the crypto space. Meme coins are cryptocurrencies created based on a popular internet meme.

Since Dogecoin (DOGE), the first meme coin, became a success and gained acceptance within the crypto space, other meme coins like Shiba Inu (SHIB) have entered the coin market. The Shiba Inu cryptocurrency experienced a surge in price not shared by any other meme coin.

Additional Features Of The Revolutux (RVLT) Ecosystem

Revolutux (RVLT) is a new cryptocurrency in the coin market, which means it has a lot to offer its users. It is currently in its presale stage and provides additional reward opportunities for its participants.

Participating in stage one of the presale is rewarded with a 7% bonus. Participants earn a 6% bonus when they purchase USDT ERC-20 tokens in the presale. When referring others, both parties will receive $50 as a reward for participating in the presale when the referred individual purchases $200.

The Revolutux (RVLT) token is one of the best cryptocurrencies you can buy in 2022. It offers numerous reward opportunities due to its host blockchain. Revolutux (RVLT) stakeholders will play an active role in determining the ecosystem’s future. Participate in the ongoing presale to enjoy the next-generation ecosystem’s features. You can find more information here.

Tinder Is Backing Down From Its Metaverse and Web3 Plans

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The parent firm of the famous dating app Tinder, Match Group, has announced that it would reduce investment in Web3-related research and advancement in light of the business’s weak Q2 results and the departure of Tinder’s current CEO.

Match Group CEO Bernard Kim stated in a letter to investors on Tuesday that the company will be reducing its investments in the metaverse and abandoning plans to launch Tinder Coins, an in-app digital currency.

The move also coincides with Renate Nyborg, the first female CEO, quitting her position. Renate had originally outlined ambitions to launch the “Tinderverse” after purchasing the video-AI and augmented reality business Hyperconnect in 2021.

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Tinder Is Backing Down From Its Metaverse and Web3 Plans 7

Nyborg had envisioned Tinderverse

In order for Tinder customers to connect and communicate with each other in the future, Nyborg had envisioned Hyperconnect expanding its avatar-based “Single Town” experience.

While Kim did not specifically specify why Nyborg left, he did note that during the previous few quarters, the dating platform “has not been able to realize the monetization success that we generally provide.”

Kim stated in his letter that Match Group will keep an eye on the Metaverse but would rather wait till the “right time:”

Given uncertainty about the ultimate contours of the Metaverse and what will or won’t work. I’ve instructed the Hyperconnect team to iterate but not invest heavily in [the] Metaverse at this time.”

Tinder Coins, an in-app digital currency, had also been canceled, according to Kim, because of “mixed outcomes” from testing.

To guarantee that they can be a true engine for its next leg of development and help us uncover the platform’s latent power users, he continued, “We also aim to do more thinking on virtual products.”

“We’ll continue to carefully assess this market, and when the time is right and we have greater clarity on the entire potential and believe our service is well-positioned to succeed, we’ll think about going forward.”

Cardano’s Metaverse & Kevin Hart Tease A Brand New Collab

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The Cardano ecosystem is teeming with a lot of interesting activities. The latest of which is a celebrity collaboration in its metaverse project. Announcing the same via Twitter, Virtua has joined hands with American comedian and actor Kevin Hart to build metaverse on the platform.

“We’re really excited to be working with the main man himself, Kevin Hart to bring his metaverse vision to life,” the tweet read. Adding a gif of one of Hart’s iconic memes, “It’s About To Go Down!”

While the specifics had not been shared at the time of this post, Hart too confirmed the announcement.

Prior to this, the star comic partnered with virtual entertainment firm Virtua and web3 platform Moonwalk to launch “Confessions From the Hart” NFTs on his 43rd birthday.

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Cardano's Metaverse & Kevin Hart Tease A Brand New Collab 10

With the latest collaboration, Kevin Hart has joined the ranks of other American celebrities, like Martin Lawrence and Snoop Dogg, who have also launched NFTs on Cardano.

Earlier in April, Snoop Dogg and Cardano founder Charles Hoskinson met in an epic Twitter space to discuss music and NFTs.

Later, one of its native NFT projects Clay Nation launched its official collaboration with Snoop Dogg and Champ Medici, thus bringing iconic clay animations, land pitches, and unlockable music content to Cardano.

Cardano and Terra Virtua- Where It All Began

On April 25, Hoskinson and Jawad Ashraf, Terra Virtua CEO, were in discussions about the duo’s collaboration and future plans. IOHK, its parent firm also put out a reminder by sharing Terra Virtua’s post on Twitter and noting the date of the event.

The Virtua NFT marketplace was the result of a collaboration with Cardano Island serving as a representation of its Metaverse.

Terra Virtua which has been constructing NFT and metaverses since 2018, continues to broaden its reach by incorporating cell gadgets, AR and VR.

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Cardano's Metaverse & Kevin Hart Tease A Brand New Collab 11

Its newly developed NFT market on the Cardano blockchain in an attempt to revamp the house of digital collectibles by means of gamification, discovering new methods to interact with customers and advertise larger sustainability.

Additionally, it has its very own token: Terra Virtua Kolect [TVK]. 

Another Cardano-based Metaverse Cardalonia has recently integrated Adahandle and is set to release the first Play To Earn game trailer. Built on the Cardano network, Cardalonia is powered by the LONIA utility token.

Sandbox and Time partner to create “Time Square” in the metaverse

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Time and Sandbox have joined forces to create “Time Square” in the metaverse, which is modelled after the Times Square neighbourhood in New York.

TIME Square will be built on TIME’s property in The Sandbox as a hub for gathering, art, and commerce, inspired by the aesthetic energy of New York’s Times Square.

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TIME’s president, Keith A. Grossman, made the announcement at the Sandbox event held at NFT.NYC. A chance for architects to create TIME Square was also mentioned in the announcement. TIME is also looking for suggestions from the metaverse community and its devotees in order to find a creative architect who can create a graphic representation of the TIME Square. He further added,

“We are thrilled to now tap into that community as we seek to find the architect to design TIME Square in the metaverse, as we create an immersive experience with The Sandbox.”

Virtual Manhattan, Sandbox to help create the core of Metaverse

According to Time’s president, Grossman, their objective is to develop a location that will serve as the metaverse’s hub. Time is concentrated on building a community on Web3 that will gain from the tremendous 100-year legacy and access TIME has developed since launching TIMEPieces in September 2021.

The owners of TIMEPiece NFTs will also receive exclusive advantages and experiences from TIME Square. For the TIMEPieces community, the website will offer virtual access to discussions, events, screenings of TIME Studios productions, and educational opportunities.

Sebastien Borget, COO and Co-Founder of The Sandbox, said,

“The Sandbox is often viewed as a ‘virtual Manhattan’, a vibrant space alive with culture, entertainment, and brands, where anyone can discover, learn, work, meet new people, play, dance, and find amazing new opportunities.

According to Sebastien Borget, the partnership will make TIMEPieces the beating heart and soul of the digital Manhattan. The location will serve as a meeting point for companies and creators to collaborate.

Meta Announces New Metaverse & Web3-Aligned Online Creator Tools

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Meta unveiled a host of features for online content creators that it claims would increase the scope for revenue generation, allow creative expression, and enhance user engagement.

Announcing the same, CEO Mark Zuckerberg also said it is expanding some of its current monetization tools to attract more creators.

First, creators would not be charged for online events, fan subscriptions, or badges, until 2024. which was previously kept till 2023.

Besides that, Meta is testing a marketplace on Instagram to bring creators and brands together for future collaboration via a partnership messaging folder within Instagram DMs.

As per sources, the proposed creator’s marketplace would compete with TikTok’s similar marketplace, which is the video app’s in-house influencer marketing platform, in a bid to woo more creators to its platform.

In terms of the firm’s existing monetization tools, the chief exec announced enhancing current offerings like the Facebook Reels Play Bonus program to onboard more creators and also let creators cross-post their Instagram Reels to Facebook and monetize them there as well.

The Reels Play Bonus program is a part of Meta’s larger $1 billion creator fund and will go live next week.

Meta’s NFT Display Now On Facebook

After Meta’s pilot testing of NFT display options on Instagram back in May, the firm is now expanding the test pool, bringing the digital collectibles feature to Facebook, ‘starting with a small group of US creators’.

For U.S.-based influencers, one is eligible to apply for the Facebook Reels Play bonus program if they have created more than five Reels and have a total of a minimum of 100k views in the past 30 days.

Not only that, the firm is planning to extend a virtual platform called Facebook Stars to all eligible creators from now on. Here fans can offer support for their favorite creators and buy merchandise.

“Beginning this week, creators who have at least 1,000 followers over the last 60 days will be eligible to onboard. Creators must be in a region where Stars are available and must also meet Meta’s Partner Monetization Policies and Content Monetization Policies”, the report read.

Meta Set To Unveil A Full-Fledged Metaverse Academy In France

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Meta Platforms, formerly Facebook, has teamed up with a French digital training firm to launch a “metaverse academy” in France for the new academic year, as per a Sunday announcement.

Metaverse which is widely viewed as the next iteration of the internet technically refers to an immersive digital world consisting of augmented or virtual reality and transforms the web from 2D to 3D.

As per the press release, the initial goal for the school would be to train for free around 100 students in two roles, specialist immersive technology developers and support and assistance technicians, Meta’s vice president for southern Europe Laurent Solly told AFP.

The teaching would be imparted in-person and revolve around projects, with a focus on the 3D world and interactions in the virtual universes, said Frederic Bardeau, co-founder and boss of Simplon, the Partner French firm

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Meta Set To Unveil A Full-Fledged Metaverse Academy In France 14

Located in the capital Paris and other cities including Lyon, Marseille, and Nice, the new academy will train 20 students per city each year.

Diversity would also be given particular attention. Solly said 30% of the first batch would be reserved for women.

Meta To Soon Launch Crypto Exchange

Back in October 2021, the tech firm said it intended to create 10,000 jobs in Europe in five years’ time to build the virtual world the US technology giant’s new strategic priority.

Till May 2022, it has filed five trademark applications in the U.S. for its newly rebranded payments product, Meta Pay. The applications indicate that the company may have plans to launch a slew of crypto-related products and services, including a crypto exchange and a wallet.

A week earlier, fintech head Stephane Kasriel said that the new payment projet wants to provide a cross-platform “single wallet experience.”

The trademarks, filed on May 13 with the United States Patent and Trademark Office, aim to protect Meta’s newly acquired brand name “Meta Pay” as well as its associated logos and symbols related to a variety of crypto-related products and services, including a crypto wallet, a trading service, and an online social networking service for investors.

The trademark applications also suggest that platform is looking to enter into crypto lending, card, and investment services.

Metaverse Welcomes a Dentistry for the First Time

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The Dental Design Studio is the first company to establish a claim in the metaverse for dentistry. The British dental firm has 15 physical facilities in the United Kingdom, as well as one in the Sandbox.

The dentistry firm intends to construct interactive mirror versions of its surgeries on the property. Patients can sit in a dentist’s chair, have a consultation, get virtual treatments, talk to the staff, and study oral hygiene videos in the dental metaverse.

Users can design their own avatars and even alter their appearance, right down to their teeth. While people are unable to receive dental treatment, the company recognizes the commercial potential of establishing a presence online.

Dental education possibilities in the metaverse

All of this appears to be a waste of time rather than a useful application of the metaverse. However, there is a unique educational opportunity here.

Dental courses and lectures, according to the dental chain, can be offered online. Regional surgery can now reach an international audience with this new initiative.

“At The Dental Design Studio, we have always been interested in technology and have tried to innovate in any area that will benefit our patients. As people are increasingly starting to use the metaverse as a form of social interaction, we got the idea to create a group of dental practices in the metaverse – giving patients the chance to experience the dentist in a different way. ”

Dr Jeff Sherer

Dentists, according to Dr. Sherer, can benefit from having their surgeries in the digital world. Meanwhile, a startup called Immersive Touch is utilizing virtual reality to help dentists rehearse procedures before doing them in real life.

Stay Hydrated as Gatorade Is Coming to the Metaverse

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Stokely-Van Camp, the beverage business that has the rights to sell and manufacture Gatorade, might be looking at launching virtual sports beverages in the metaverse.

Stokely-Van Camp filed two applications for the word Gatorade and the sports drink’s “G”-shaped orange, black, and white logo to be used in connection with “virtual beverage products” and nonfungible tokens, or NFTs, according to records submitted to the United States Patent and Trademark Office, or USPTO, on Wednesday.

According to the documents, Gatorade is prepared to launch its branded items in the metaverse.

Now you got Gatorade in the metaverse

Gatorade’s name and symbol might also be utilized in digital media artwork, text, music, and video, according to Stokely-Van Camp. According to the USPTO’s current status, the application review process might take up to six months.

Gatorade is a popular sports drink that is consumed in more than 80 countries. It is now owned by PepsiCo, a global food conglomerate. In 2021, the corporation allegedly sold $2.6 billion worth of goods in convenience shops across the United States and dominated 46% of the global sports drink industry.

If Gatorade enters the metaverse, it will join several other large food and beverage companies, including Coca-Cola, McDonald’s, and Anheuser-Busch.

How To Make Money With The Metaverse As A Beginner In 2022
Stay Hydrated as Gatorade Is Coming to the Metaverse 16

Gatorade is a sports drink with a massive global market, with over 80 million people drinking it every day. They sold $2.1 billion worth of items at convenience shops across the United States in 2021.

They also have a 46 percent market share in the global sports drink industry. As businesses come to terms with the impact on their income, the metaverse is developing exponentially.

According to a recent Accenture poll, 71 percent of respondents believe the metaverse would have a beneficial influence on organizations.

In addition, 42% believe it will be transformative or groundbreaking for firms. The metaverse is still in its infancy, according to Accenture’s Chief Executive Officer Julie Sweet and Chief Technology Officer Paul Daugherty. As a result, businesses must take action.

Mark Zuckerberg is the founder and CEO of Facebook. He recently said that he intends to spend $10 billion on virtual reality software and hardware.

He feels that since the internet’s inception, the virtual reality world has presented the greatest potential for modern enterprises.

Spotify: Gamers Can Now Bob Their Heads To Music-Themed Islands In Roblox Metaverse

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Popular streaming music provider Spotify has stepped into the metaverse of gaming platform Roblox with the launch of Spotify Island.

Through this collaboration, the Swedish streaming giant has joined major labels in the Roblox metaverse which aims to build an interactive presence. Apart from that, it has become the first music streamer to enter the gaming platform.

As per a statement released, Spotify Island will enable fans to create new sounds together, hang out in digital spaces and gain access to exclusive merch.

“Roblox users can mingle with artists, complete interactive quests, and unlock exclusive content,” it read. “Players can also enjoy an immersive audio experience by creating music and exploring sounds at the virtual beat-maker stations powered by Soundtrap.”

From the main Spotify Island, gamers will be able to connect to themed islands that will come to life throughout the year. It will also provide exclusive content, artist interactions, and themed ‘mini-quests’.

Spotify enters the Roblox metaverse

“Through the Island, we’re creating an easy opportunity for artists to connect with fans and to partner with Spotify on the creation of in-game virtual merchandise,” said the statement.

“Spotify’s portion of those sales will go directly back to the artists themselves. We’ll work with artists to create more opportunities like this in the months ahead,” it added.

Will Spotify propel Music to become the next breakout NFT application?

In March, Spotify announced plans to add blockchain innovation and non-fungible tokens to its web-based feature.

Of late, the already crowded NFT market has shown signs of deceleration, several in the crypto business have tipped music as a breakout new application for NFTs this year.

That opens up a whole new range of opportunities like selling advanced collections or utilizing NFTs to open advantages at gigs, from product to behind-the-stage passes.

For example, Musicians, such as rapper Snoop Dogg and DJ Steve Aoki have effectively become noticeable NFT authorities, while Kings of Leon and Grimes have sold NFTs of their music.

Even Warner and Universal have several NFT projects in their kitty, including a virtual band highlighting characters from the Bored Ape Yacht Club.