Metaverse
Facebook to Stop Hiring New Employees
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Shiba Inu has a new use case — Buying land in SHIB: The Metaverse
Holders of the popular memecoin Shiba Inu (SHIB), will now be able to use the cryptocurrency to purchase land in the Shiba metaverse. On Wednesday, the Shiba Inu team took to Twitter to reveal that the SHIB token could now be used to mint parcels of land in the recently unveiled virtual reality project “SHIB: The Metaverse.” New minting option has been released on https://t.co/f2oLn05qWk! Mint lands with $SHIB! Minting with $SHIB Details:0.2 ETH equivalents in $SHIB0.3 ETH equivalents in $SHIB0.5 ETH equivalents in $SHIB1 ETH equivalents in $SHIB#ShibTheMetaverse #ShibMV pic.twitter.com/mOrpwDSkDK — SHIB: The Metaverse (@ShibTheMV) May 4, 2022 There are 100,595 different pieces of land on offer in the SHIB: The Metaverse. Initially it was only possible to purchase land using ETH. Now...
Ethereum burning spikes to new high on Yuga Labs’ NFT hype
The burning rate of Ethereum has spiked to new all-time high (ATH) levels following the heavily anticipated sale of tokenized land plots in Yuga Labs’ upcoming Metaverse project the “Otherside.” Yuga Labs, the creators of the Bored Ape Yacht Club (BAYC), sold 55,000 virtual land nonfungible tokens (NFTs) dubbed “Otherdeeds” on Sunday. The overwhelming demand for the tokens saw Ethereum gas fees shoot up so high that a handful of users paid as high as 2.6 Ether (ETH), or $7,400 at the time of writing, to 5 ETH, or $14,270, just to get their transactions through. A base fee of ETH is burned during each transaction on the network following the implementation of the London hard fork, or EIP-1559 upgrade, last year. According to data compiled from Glassnode and Data Always, nearly 70,000 E...
ApeCoin slides 40% in three days despite Otherside metaverse land sale — here’s why
ApeCoin (APE) caught its bulls off-guard with APE price losing nearly 40% in just three days. No dutch auction APE’s price reached its second-highest level, hitting $27.57 on April 28, up more than 2,650% from its mid-March debut. Nonetheless, traders started unwinding their positions after Yuga Labs, the Bored Ape Yacht Club (BAYC) NFT collection’s creator, released the details of the mint of its Otherside Metaverse lands, dubbed “Otherdeed.” Yuga Labs revealed that the NFT mint would cost a flat 305 APE (~$5,250 at today’s price), in contrast to expectations that the company would sell the metaverse land parcels in a dutch auction manner. Thus, the disclosure may have reduced the need for people to hoard more ApeCoin tokens, leading to a drop in demand. APE ...
ETH gas price surges as Yuga Labs cashes in $300M selling Otherside NFTs
While the community was witness to the largest NFT mint yet, Ethereum (ETH) gas prices rose to unprecedented levels, in addition to users experiencing failed transactions due to blockchain bottlenecks. Bored Ape Yacht Club creator Yuga Labs launched a sale of Otherdeed non-fungible tokens (NFTs) that represents digital land deeds on their new venture, the Otherside metaverse. With each piece of land selling at 305 ApeCoin (APE) or nearly $5,800 at the time of the sale, Yuga Labs made $319 million after 55,000 NFTs sold out almost instantly. The Otherdeed NFT mint is sold out – we are awestruck at the demand shown tonight. Apes and Mutants, the opening of the 21-day claim period is being delayed until the price of gas drops to reasonable levels. We’ll tweet when the claim opens. https...
Is Web3 like playing Minecraft?
Web3 puts major companies like Meta out of business and gives every user rights to develop the next big thing together. Decentralization and the combination of humans and machines will be the heart of the Web3 projects. There is a reason for users’ passive participation: We’re still busy trying to get the biggest part of the pie. But now, Web3 is in the pipeline. This is going to change radically. In the upcoming years, there’s going to be a shift from tech giants who are “the boss” to individuals who are taking the lead. When the development of Web3 is concluded and if you’re working within IT, blockchain or crypto space, you’re working on it too, we’re all going to be the boss. Data is going to be stored in a...
STEPN move-to-earn tokens GMT, GST hit new highs after Coinbase listing announcement
The native tokens of move-to-earn lifestyle app STEPN swung higher on news that they would be available to trade on Coinbase, a U.S.-based crypto exchange. The price of STEPN’s governance token Green Metaverse Token (GMT) rallied by nearly 20% to reach over $4 in the past 24 hours, hitting as high as $4.50, its best level to date. GMT/USD four-hour price chart. Source: TradingView Similarly, the other STEPN token, called the Green Satoshi Token (GST), which players earn after walking, jogging and running outdoors with STEPN’s “NFT Sneakers,” gained 6.5% to about $6.25 on a 24-hour adjusted timeframe with a new record high of $7.20. STEPN ecosystem grows The intraday rallies in GMT and GST markets are part of a broader uptrend that started in early March 2...
Meta’s Reality Labs posts $2.9B loss: ‘I recognize it’s expensive’ says Zuck
Meta Platforms Inc., formerly known as Facebook Inc., posted its Q1 2022 earnings on Wednesday, with its Metaverse-focused Reality Labs division posting increased losses. The Reality Labs division — formerly known as Facebook’s Oculus division — has been spending increasing sums of capital on developing virtual reality and metaverse-related products, posting a $2.9 billion loss for Q1 2022. That’s 61% more than its $1.8 billion loss in Q1 2021. Overall Reality Labs revenue came in above expectations, seeing $695 million in revenue during the first quarter of this year from the sales of things like VR headsets and Meta Portal hardware. In a Wednesday earnings call, Meta CEO Mark Zuckerberg said losses in this division are to be expected, owing to the fact that Reality Labs is still la...
Meta’s Reality Labs posts $2.9B loss: ‘I recognize it’s expensive’ says Zuck
Meta Platforms Inc., formerly known as Facebook Inc., posted its Q1 2022 earnings on Wednesday, with its Metaverse-focused Reality Labs division posting increased losses. The Reality Labs division — formerly known as Facebook’s Oculus division — has been spending increasing sums of capital on developing virtual reality and metaverse-related products, posting a $2.9 billion loss for Q1 2022. That’s 61% more than its $1.8 billion loss in Q1 2021. Overall Reality Labs revenue came in above expectations, seeing $695 million in revenue during the first quarter of this year from the sales of things like VR headsets and Meta Portal hardware. In a Wednesday earnings call, Meta CEO Mark Zuckerberg said losses in this division are to be expected, owing to the fact that Reality Labs is still la...
Meta is Getting its First-Ever Physical Retail Store
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How to use Minecraft to understand the Metaverse and Web3
What is the Metaverse? The Metaverse is a term coined by Neal Stephenson in his 1992 science fiction novel Snow Crash to describe a future virtual reality-based online world. Some have gone as far as pronouncing Stephenson’s novel a prediction of the future. Before you agree that it’s some mystical peek into the future and invoke the rules of time travel, let’s first investigate what the Metaverse is through the lens of something much more accessible: Minecraft. But, more on this later. Unlike the internet or even virtual reality as we know it today, the Metaverse would be a fully immersive 3D environment where people could interact with each other and with digital objects as if they were real. The Metaverse is yet to be fully existent. However, some platforms have already created experien...
Altcoin Roundup: Crypto indexes offer broad access, but are they profitable in the long run?
The cryptocurrency market is known for its high volatility and the wild-west nature of the space is, in part, due to many of the assets having small market caps and the 24/7 operational hours of centralized and decentralized exchanges (DEXs). In addition to being high risk, crypto trading can also be a very time-intensive process. It can be an overwhelming task and a barrier to entry for most investors in determining which tokens to invest in. For these investors, index investing could be a profitable alternative for gaining exposure to some of the hottest sectors of the cryptocurrency market. Here’s a look at how crypto index products compare to individual tokens and which strategies have produced the biggest return. Index Cooperative Index Cooperative (INDEX) is a decentralized autonomou...
