Samsung’s investments in crypto

Samsung's investments in the crypto world

Samsung’s investments in the crypto world followed the announcement that it has invested in the crypto company Startale Labs, which is working on Sony-owned Ethereum Layer 2. 

It’s happening! Large ‘traditional’ technology companies are entering the crypto world with a ‘leg up’, as demonstrated by Sony’s announcement last week. The entertainment giant presented Soneium, an Ethereum Layer 2 developed in collaboration with blockchain company Startale Labs, to the public, which also attracted the interest and capital of Samsung.

Unlike Sony, however, South Korea has been exploring the world of cryptocurrencies for several years through its venture capital fund, Samsung Next. This is why it may be curious to analyse Samsung’s investments in the crypto world. How does the company finance the start-ups? If you follow the sector with interest, you will know some of them!

  • Axie Infinity

SamsungNext believed in one of the most popular Web3 games in the crypto world and participated in the $152 million (Series B) funding round by Sky Mavis, the software house behind the game’s development.

Buy AXS!

Axie Infinity and its development team raised around $315 million in investments in six rounds.

  • Sui (SUI)

The blockchain created by Meta’s team of former employees certainly attracted a lot of attention in its early months. The depth of its early employees and the technological premise have enabled this blockchain company to raise large amounts of capital and re-enter the crypto companies in which Samsung has invested.

Buy SUI!

The technology giant acquired shares in Sui in December 2021, during the blockchain company’s first funding round (series A).

  • Alchemy

Alchemy is one of the most popular developer platforms in the crypto world, as it offers developers everything they need to develop decentralised applications (dapp). It is not as popular as the projects mentioned above precisely because it is dedicated to the so-called builders, those who are in charge of building the blockchain protocols we use.

The investments attracted by this crypto company, in which Samsung also participated, show that Alchemy is a Web3 institution. It has raised a total of approximately USD 560 million and is valued at more than USD 10 billion. The top names that have participated in several rounds also include Andreessen Horowitz (a16z), Coinbase Venture, and Pantera Capital.

  • Yuga Labs

The Web3 company that released the NFT collection ‘Bored Ape Yacht Club’ (BAYC) has also received capital from Samsung, perhaps because the South Korean company wants to keep up and aims to fit into entertainment 3.0. Samsung contributed to this NFT company in March 2022, during Yuga Labs’ only funding round, through which it raised USD 450 million.

At that time, the Bored Apes of BAYC were at the height of their success. The minimum price for a single non-fungible token was around 100 Ethereum, more than $300,000. Today, however, the collection and the entire NFT market have shrunk dramatically, and it is possible to buy a Bored Apes for about 10 ETH, less than $30,000 at today’s price.

  • The Sandbox

Even though this segment of the crypto world has not been doing well lately, the world’s most popular metaverse has attracted more than $100 million in investments in the past year. 

See the SAND chart!

At the height of its success (November 2021), The Sandbox closed a USD 93 million funding round in which SamsungNext and LG Technology Ventures, the fund owned by one of the Korean company’s main competitors, also participated. 

These are just a small part of Samsung’s investments in the crypto world. Also worth mentioning are LayerZero, a leading blockchain interoperability protocol; SuperRare, an NFT marketplace dedicated to digital art; and Messari, a widely used database and intelligence network for the crypto world. Now, after its commitment to Startale Labs, Samsung’s Web3 investment season is starting up again. Keep following us so you don’t miss the next one!

Metaverse Fashion Week 2023: all the brands and things to know

Metaverse Fashion Week 2023: all you need to know

Metaverse Fashion Week 2023 is coming. Which haute couture brands will parade in Decentraland? 

Decentraland’s Metaverse Fashion Week 2023 is just around the corner! According to a study by Gartner dated 7 February 2022, in 2026 25% of the global population will spend at least one hour a day in the Metaverse “for work, shopping, education, social interactions and entertainment”. Considering that 2026 is only three years away, it is safe to say that this virtual world will soon be part of our everyday life. The fashion industry seems to be the most advanced as far as this new technology is concerned and the second Metaverse Fashion Week in history will take place from 28 to 31 March 2023. 

The Metaverse chosen for the occasion is once again Decentraland (MANA), which has already hosted the 2022 edition. This year’s theme mixes tradition and innovation through collaborations between new generation designers and historically established fashion brands. Find out all about the event and the brands that will be guests at Metaverse Fashion Week 2023!

Metaverse Fashion Week 2023: how to access

Metaverse Fashion Week was created to let the public experience fashion from different perspectives and to make it accessible to everyone, not just insiders. To enter Decentraland’s metaverse and thus participate in the events of this fashion week, you simply have to connect your crypto wallet or visit the virtual world in guest mode. Decentraland has already provided the coordinates of all the areas where the events will take place and with a simple click (‘jump in’) you can reach afterparties, digital shops, fashion shows and conferences organised by many brands. 

The Metaverse Fashion Week 2023 calendar

Below you can find a selection of events from the eagerly awaited Decentraland virtual fashion week 

28 March 

  • 00:00 UTC, Fashion District: Metaverse Fashion Week 2023 opening event – DJ Set by ‘KDS’ and discussion on the future of fashion in the metaverse;
  • 14:14 UTC, Genesis Plaza: “CRISTÓBAL BALENCIAGA: NEW CODE” – Haute couture evening dresses inspired by the designs of Cristòbal Balenciaga;
  • 14:14 UTC, Decentraland South, Neo Plaza: ” META FASHION HOUSE IN THE NEO PLAZA FEATURING 3DMETADRESS” – The augmented reality presentation of the digital clothing that will be physically produced for NFT Week New York 2023;
  • 18:18 UTC, Genesis Plaza: “HAUS OF FUEGO FASHION SHOW!” – The Nikki Fuego avatar fashion show, inspired by cyberpunk and high tech culture.

29 March

  • 00:00 UTC, Adjacent District: “THE TRAVELER PARKA” CO-CREATION @SAKOASKO AND @KAFTANCREADOR” – The second day of Metaverse Fashion Week 2023 will open with an event dedicated to Latin American artists from the metaverse;
  • 21:21 UTC, Binary Code Building: ‘FASHION SPACES: MERCURY DASHA X RENOVI STUDIOS’ – The fashion show of the ‘urban-luxe’ collection resulting from the collaboration between the two brands (Mercury Dasha and Renovi Studio);
  • 22:22 UTC, Valhalla: ‘METAVERSE FASHION WEEK BY DECENTRALAND (MVFW) AFTER PARTY’ – A concert featuring various musicians from the Decentraland community.

30 March

  • UTC, Uniquely.io Land: ‘METAVERSE FASHION WEEK MEETING BY UNIQLY.IO & PUNKSCLUB’ – Debate on the relationship between fashion and NFT followed by a DJ Set;
  • 16:16 UTC, The Crypto Valley “NTR1-META” – A party in the metaverse organised by the digital sneakers brand of the same name;

31 March

  • 21:21 UTC, Dlan Holding 004: “DKNY.3 X MVFW23 CLOSING NIGHT PARTY” – The closing party of Metaverse Fashion Week 2023

This calendar is generic and does not present the events organised by the most famous brands, these have their own customised LANDs where their respective programmes will be staged. But which of these big brands have decided to participate?

Dolce and Gabbana

Among the brands that have already shown in Decentraland during Metaverse Fashion Week 2022 is Dolce and Gabbana. D&G’s journey into the Metaverse began in 2021 and after several NFT collections that expanded the brand’s artistic and craftsmanship potential, it organised its own fashion show in Decentraland. During the 2023 edition, the historic Italian brand will present a selection of the winning entries of the Future Reward competition. The designs were chosen by Domenico Dolce and Stefano Gabbana themselves and are all digital wearables.

Tommy Hilfiger

Tommy Hilfiger opened its digital shop in the Boson Portal District during 2022 and is making its second appearance at Metaverse Fashion Week. Last year, users were able to buy some limited edition products from the Spring 2022 collection in NFT format and have them worn by their avatars. For the 2023 event, new digital garments designed by artificial intelligence will be released every day and a challenge will be held among the community of aspiring designers attending the event. The winner will be selected by Tommy Hilfiger himself!

Adidas

At Metaverse Fashion Week 2023 Adidas will present the ‘adidas virtual gear‘ collection, a collection of cyberpunk and high-tech inspired garments that will be produced in both physical and digital versions. These include a personal flotation device, a life jacket built for space.

Clarks

The British footwear brand will be present at Metaverse Fashion Week 2023 with its own dedicated area called ‘Clarks Arcade’ – part amusement park and part disco. Within this space, people will be able to try out Clarks-themed video games and compete with others at dance competitions. This is not the first experience in the Metaverse for the shoe brand, which had already landed on Roblox in May 2022 to present its trainer for kids, ‘Cica’.

Decentraland Fashion Week 2022

Metaverse Fashion Week 2023, which will be held from 28 to 31 March, is the second edition ever; the first was last year and was very well received by the community and brands. Among the main events of the past year, besides those already mentioned by Dolce and Gabbana and Tommy Hilfiger, was Philipp Plein. The German brand presented its space on Decentraland, the Plein Plaza, in which it exhibited works from the NFT Museum of the Arts (M.O.N.A).

Etro‘s event was also a success. The ‘liquid paisley’ motif reinterpreted by the brand in a contemporary way and presented at Metaverse Fashion Week 2022 was also back in fashion in the real world. Hogan‘s event, on the other hand, featured guest Bob Sinclar who played at the after party.

Why a Fashion Week in the Metaverse?

The brands that participated last year and will participate in Metaverse Fashion Week 2023, presenting their collections online, have made a significant choice that falls primarily on the fashion house’s own perception of innovation. The potential of events in the virtual world lies in the contact with younger consumers, Gen Z or the even more budding Gen Alpha, who are increasingly interested in buying digital goods. 

Secondly, participating in events in the Metaverse is a way for brands to experiment, test trends and give value to their products, which are protected by blockchain. 

However, as Sam Hamilton, creative director of the Decentraland Foundation and co-organiser of Metaverse Fashion Week 2023 reiterated: ‘fashion and high fashion are not new to the Metaverse. Decentraland has been at the forefront of digital fashion, in demand since the launch of wearables (tokens) in 2020. Since then, creators have been working on the technical and stylistic limits of these digital wearables and have created a booming economy’.

The top 5 cryptocurrencies in the Metaverse

The top metaverse crypto project

The Metaverse cryptos regulate the internal economy of decentralised virtual worlds. Which ones are the most popular on the market?

What are the top Metaverse crypto projects? The latter combines the immersive environments of virtual (VR) and augmented reality (AR), the engagement of video games and the social interaction of social networks; but a crypto Metaverse also includes an economic component that is managed and regulated through cryptocurrencies. 

The crypto metaverse and its economy

Before discussing Metaverse cryptos, it is necessary to make a few clarifications. The term Metaverse refers to an immersive virtual world shared between users who, through avatars, can interact, participate in experiences and build digital objects. Among the many things you can do within it, there is certainly participation in the most varied events: parties, weddings, art exhibitions, fashion shows, university lectures, business meetings. This is not a new concept, many video games such as massive-multiplayer online games have always proposed this kind of scenario. What is changing in the Metaverse emerging in recent months is the use of blockchain as a core technology

The blockchain determines the functioning of the Metaverse in at least two senses. Firstly, it allows these virtual worlds to possess a real internal economy, managed with cryptocurrencies. The digital objects that the crypto Metaverse offers are in NFT format, i.e. non-fungible tokens, and cryptocurrencies are used to buy them. This means that the objects you buy are your property, indelibly and immutably guaranteed by the blockchain. Without this technology, should a video game be withdrawn from the market, you would lose all the digital objects you own in it. The first aspect that distinguishes any crypto metaverse is therefore the traceability of the ownership of objects and their economic value in the real world

Secondly, using blockchain technology means giving a Metaverse a decentralised structure, this implies that the management of the project is not in the hands of a company or corporation but is given to the users. Owning a certain number of the cryptos in the Metaverse gives the right to participate in governance and vote on decisions and choices about the future of the project. Many virtual worlds in fact rely on DAOs, decentralised autonomous organisations set up by the community. But which are the most popular and capitalised Metaverse crypto projects?

The Sandbox (SAND)

The crypto of The Sandbox metaverse is SAND, an ERC-20 type token based on the Ethereum standard. SAND is one of the main cryptocurrencies in the virtual world and handles most of the transactions and interactions in The Sandbox. It is used to buy accessories and tools to customise avatars, to manage LAND rentals and is distributed as rewards to users who win challenges and achieve goals. Metaverses are virtual worlds and like the real world they are also divided into territories, LANDs, in the form of NFTs. And like in the real world, they are not infinite; for instance on The Sandbox there are 166,464. During the first year of The Sandbox itself, these virtual land plots could be purchased through the metaverse’s crypto, SAND. 

The digital plots of land that exist to date are all sold out and the only way to own one is to buy it with ETH on an NFT marketplace, such as Opensea

The LANDs of The Sandbox host various brands and celebrities, some examples? Snoop Dogg, Gucci and Adidas! This Metaverse has also been selected by TIME for the list of the “100 Most Influential Companies” of 2022, under the category “pioneers”.

Decentraland (MANA)

Decentraland’s crypto metaverse is also built on Ethereum, its token is called MANA and can be used to purchase all digital objects in the virtual world, including land. This is a community-driven space where users create digital experiences, content and services and then exchange them with each other. Decentraland is not only developed by its users but is also managed by them, in fact its governance is totally entrusted to its DAO (Decentralised Autonomous Organisation), an organisation in which MANA owners can participate by proposing and voting on initiatives. The crypto of the Decentraland metaverse thus plays a dual role within the virtual world, it is the main exchange token in this economy and also functions as a governance token. With MANA, you can purchase LAND, clothes and accessories for avatars and generally all the assets of Decentraland. These virtual assets also include Decentraland Names, ERC-721s tokens integrated with the Ethereum Name Service that appear as ‘jane.dcl.eth’. They are unique names to give to your avatar but also function as wallet addresses to receive your cryptocurrencies there directly. Why is MANA considered one of the top Metaverse crypto projects? Decentraland is increasingly often the venue for innovative and international events such as Metaverse Fashion Week, an annual event attended by famous fashion brands such as Dolce and Gabbana, Etro, Tommy Hilfiger and many others. 

Axie Infinity (AXS)

Axie Infinity is a cryptocurrency metaverse that revolves around a specific type of digital objects, the Axies, NFT pets that users can collect, care for, and race. On Axie Infinity, users have the opportunity to earn cryptocurrencies in the metaverse by playing, completing quests, and reaching goals. The virtual world of Axie Infinity is made up of many different mini-games, in fact, compared to The Sandbox and Decentraland, it is more focused on gaming rather than entertainment or exploration. Its economy relies on AXS, another ERC-20 token. AXS is used for two purposes: for crypto payments in the metaverse and for voting on governance proposals in the DAO. In addition, Axie Infinity’s cryptocurrency can be staked on the official dapp (decentralised application). 

Otherside (APE)

Yuga Labs, the Web3 company of the Bored Ape Yacht Club, is also building its own metaverse, Otherside. This virtual world was supposed to come out in April 2022, but has not yet been released. For now, all that is known is that it will be an MMORPG (massively multiplayer online role-playing game) on blockchain, and the key will be NFTs. Although the virtual world of Bored Ape does not yet exist, the crypto of their metaverse is already on the market. ApeCoin (APE) will be the token of Otherside and to date is used by the ApeCoin DAO, a decentralised autonomous organisation of which Bored Ape owners are members, where initiatives are proposed for the development of the entire Bored Ape ecosystem. APE, the cryptocurrency of the Otherside Metaverse and the ApeCoin DAO, was released on 17 March 2022 and as of today occupies the 34th position among the most capitalised cryptos on the market. 

Enjin (ENJ)

The Metaverse’s fifth major crypto is not a virtual world, but a platform for creating video games and NFTs on blockchain. We are talking about Enjin and its ENJ token! The project was born in 2009 to make life easier for gaming workers, and over the years it has grown closer and closer to the crypto Metaverses. Currently, Enjin offers a set of tools for developers, enthusiasts or companies to create and monetise any kind of digital content in NFT format. The ENJ token is the medium of exchange for all goods, tools and services offered by the platform; in particular, it is used by users to buy NFTs and by game developers to buy the tools needed to integrate blockchain technology into their products.
Now that you have discovered which Metaverse crypto projects are the most popular on the market, you just have to enter these virtual worlds and start using them. Only in this way can you fully understand how they work and their usefulness in the field of cryptocurrencies and beyond.

How to access the main Metaverses

Metaverse: how to enter? All the steps to enter

How to access the Metaverse? All you need to know and the guided steps to join the most popular virtual worlds

Are you wondering how to access the Metaverse but thinking that it is something complicated and expensive? Actually, to explore these virtual worlds you don’t need sophisticated visors or special computers. Just follow a few simple steps. Read this article with instructions on how to enter the three most popular metaverses: The Sandbox, Decentraland and Roblox!

How to access the metaverse of The Sandbox

The Sandbox is a metaverse based on the Ethereum blockchain. It is a community-driven platform, i.e. it evolves according to the creativity of its users. Accessing the world’s most popular decentralised metaverse is very easy! 

The first things to do are:

  • register on the official website, you can also log in with Google or Facebook;
  • create your own personal avatar;
  • connect your crypto wallet (this is not required to access the Metaverse but is required to sell or purchase in-game items); 

After registering, download Game Maker. This is the programme for creating the objects in Voxel Art and the mini-games that populate the virtual world. To download it, go to the ‘Create’ version of the site and start the download; it is available for both Windows and Mac OS. On Game Maker you can also try out the game experiences created by other users, there are tens of thousands of them! Once downloaded, open it, log in, and… congratulations, you have just entered the metaverse of The Sandbox. 

If the single player mode bores you and you want to interact with other users, you can participate in the endless offers and events of The Sandbox. To access the current ones, go to the ‘Play’ section of the official website, choose the one that suits you and click on the ‘Play’ button. Now that you know how to access The Sandbox metaverse, all you have to do is start exploring it!

Decentraland

If, on the other hand, you are wondering how to access the Decentraland metaverse, know that you can enter it directly from the browser you use on a daily basis. The team recommends downloading the desktop programme for smoother gaming experiences

The first steps to be completed are: 

  • register on the official website (also with Google or Facebook); 
  • connect your crypto wallet (otherwise, you can only log in in ‘guest’ mode); 
  • create your own avatar, if it does not fully reflect you, don’t worry, you can change it as many times as you wish. 

Once you have created your virtual alter ego, within moments you will find yourself in the middle of Genesis Plaza, the main square of Decentraland. From this place, 8 roads lead to 8 plazas, forming the distinctive skeleton of the virtual world. After logging in, explore the world of Decentraland and participate in game experiences on the most popular virtual lands, such as the Luxury Fashion District that hosted the first Metaverse Fashion Week. You can move between the various scenarios of Decentraland with a single click on the ‘Jump in’ button.

How to access Roblox?

Roblox is the world’s most popular virtual world, thanks to the 150 million monthly users who frequent it. But how to access this metaverse? The steps to enter Roblox are very similar to those we have already seen. First you have to create an account on the official website. Then you need to download the game client, which unlike the previous metaverse is available for both desktop and mobile, for practically all devices (Windows, Mac OS, iOS and Android).

Once you have downloaded the game programme, created your avatar and logged in, you can start exploring this infinite Metaverse. Inside there are thousands of virtual worlds to discover, each with its own setting. If you’re thinking of logging into Roblox, know that you can also create mini-games and worlds from scratch and sell them for official game coins. 

The latter have no value outside of Roblox. Those of Decentraland (MANA) and The Sandbox (SAND), on the other hand, are real cryptocurrencies that can be exchanged with others on the market, such as Ethereum or Bitcoin, or sold for fiat currency. Moreover, these decentralised virtual worlds are based on blockchain technology and NFTs, which guarantee and certify the ownership of all objects that users buy or create in the Metaverse. To fully exploit the potential of these metaverses, it is advisable to own a non-custodial crypto wallet, e.g. Metamask


So here’s how to access the metaverse free and easy; all you have to do is register and, at most, download a programme to your computer. What are you waiting for? Hurry up and log in to try out the Metaverse that inspires you the most!

What can you do in the Metaverse today? 5 real use cases

5 Things You Can Do in the Metaverse

What are the most interesting use cases of the virtual world? Discover 5 things you can do in the Metaverse!

Since October 2021, when Facebook with Meta drew attention to this technology, there are those who promise that the Metaverse will be the future. But what can you do in the Metaverse today? Will it be a virtual world populated by cutting-edge social networks and video games? Or is it just a lucrative marketing opportunity for brands? In short, the decisive question is: will it be useful in our daily lives? The activities it will host will be of a varied nature, at the moment developers, brands and crypto companies are experimenting and proposing events of all kinds, from book presentations to weddings.

General trials of the Metaverse are underway and there is no shortage of difficulties, especially at the technical level. It is clear that to establish itself as the technology of the future, the use cases will have to be accessible and widespread, as well as the equipment to access them. We can only speculate about the future, but let’s return to the present and see 5 things you can do in the Metaverse today!

1.    Attending a concert

One of the things you can do in the Metaverse is to attend concerts! These kinds of events started as a temporary solution to the interruption of live performances due to the COVID19 pandemic. But even now that in-person activities have resumed, concerts in the Metaverse have not been sidelined. The virtue of this mode of entertainment is interactivity, as participants’ avatars can interact from anywhere in the world and win prizes in the form of NFTs.

The most famous concerts so far have been: that of BLACKPINK, a K-pop group from South Korea, in the July 2022 battle royale video game PUBG. And those of Charlie XCX, Justin Bieber and Twenty One Pilots in the Roblox metaverse. These musical events in the Metaverse were celebrated and ‘nominated’ by MTV, which created an ad hoc award for virtual performances at the MTV Video Music Awards 2022.

Record companies are also planning to enter the Metaverse; Warner Music, for example, has decided to open a concert area on a LAND in The Sandbox.

2.    Organising a business meeting

Those wondering what can be done in the Metaverse should not lose sight of all the implications for professional activities. This reality could be a useful resource for all those companies that rely on remote working. By organising these meetings, human relations and ‘office communication’ could be recovered. Remote working is becoming more and more common and is transforming the way people manage their lives and the way they understand space and cities. It is likely, for example, that in the future it will not be so essential to take a home near the workplace.

Some platforms that perform this service are Horizon Workrooms, Meta’s app, and Gather.town. The slogan of the latter is ‘remote working should not isolate – build the office of your dreams’. Hundreds of teams have already moved into their virtual office, Gather also hosts academic conferences and job fairs. Moreover, this is an effective alternative to expensive and logistically complex business trips for companies.

But how does a meeting take place within the Metaverse? Sammy King, a Meta employee, described how a virtual meeting takes place inside a Metaverse. Unlike in a traditional video conference, where only one person can speak at a time, thanks to a technology called spatial audio, participants can talk to each other as if they were in a real office. This feature, together with the high degree of immersiveness provided by virtual reality visors, makes the meetings completely different from those on Zoom or Google Meet. “For the past couple of years we have become accustomed to talking to people through screens, but now suddenly you have the feeling of being close to your colleagues even if you are working in different places. It’s a real breakthrough,” said King, commenting on his first meeting in the Metaverse.

3.    Video games on another level

Among the things you can do in the Metaverse, however, is not just work! As can be gleaned from its etymology, this reality aims to be an extension of the real world, which in the field of video games takes the form of a realistic gaming experience. The prototypes of fully immersive video games that we know today are in the primordial stages of their development and consequently cannot yet convey the sensations that we might experience when playing in the future.

The technology that seems to have the potential to revolutionise the entire sector is virtual reality, for realistic video games. Haptic garments, on the other hand, aim to make users experience ‘on their skin’ (on a tactile level) what happens to their avatar inside the virtual world, a bit like in Steven Spielberg‘s film ‘Ready player one’. The Metaverse will also help video games develop their own economy. Play-to-earn games such as Axie Infinity, Star Atlas or even Metaverse games such as The Sandbox and Decentraland already have an internal economy that functions thanks to cryptocurrencies and tokens.

4.    Attending a fashion show

Among the answers to the question “what can you do in the Metaverse?” There is also: “attend a fashion show”. The Metaverse Fashion Week in Decentraland 2022 was the first international fashion event in the virtual world and the second edition will take place from 28 to 31 March 2023. Last year, fashion houses of the calibre of Dolce & Gabbana, Tommy Hilfiger and Etro participated and the main objective was to involve as many people as possible in an environment that is often reserved for the few.

But there have been plenty more fashion shows in this reality! For example the Meta Festival in Dept in the Metapolis metaverse attended by Coca Cola, Calvin Klein, H&M and Netflix. Or the Digital Fashion Week in New York, an event where fashion companies were able to showcase their latest work and debate stimulated by films and speeches about the future of the industry.

5.    Teleporting to the other side of the world

Let’s end this list of 5 things you can do in the Metaverse on a high note, that is: holidays!

Would you like to go skiing in the Dolomites or snorkelling along the coast of Bali while exploring locations in the Metaverse? Travel companies are already gearing up to allow their customers to experience excursions to the places they intend to visit. Thanks to virtual and augmented reality, you can get a taste of sunsets in the Moroccan desert or the Norwegian aurora borealis and thus decide whether they are really for you before booking your trip. Not only travel agencies, but also hotels and restaurants can use the Metaverse to their advantage. How many times have you ended up in a hovel that according to the booking ad was supposed to look like the Palace of Versailles? Or to end up in a dive bar while expecting to dine in a luxurious restaurant?

The Metaverse became popular after the COVID-19 pandemic, an event that showed us that our lives can change radically and suddenly. With the return to normalcy, however, this technology has not disappeared, but has continued its evolution. In some areas it has already been used and proved useful, while in others it still has some way to go. Despite this, however, the answers to the question ‘what can be done in the Metaverse’ are becoming more and more numerous, a sign that the development around this concept has never stopped. From virtual parades to play-to-earn video games to ‘a taste’ of your future holiday.

How do concerts work in the Metaverse?

Concerts dans le Metaverse : comment fonctionnent-ils ?

More and more artists are choosing to perform virtually and bring their audiences into the digital world. But how do concerts in the Metaverse work? 

Concerts in the Metaverse were born during the pandemic, as a ‘creative’ response to all the bans and curfews. Does that period also seem very far away to you? It was the year 2020. All live events were forbidden and curfew was at ten o’clock. Not only bad memories, at that time thanks to technology we reinvented entertainment! 

All thanks to motion capture!

The technology that makes concerts in the Metaverse possible is motion capture. The movements of live performers are captured with suits and sensors and projected to their digital avatars. Just to name a few, this is the case of Lil Nas X and his concert in front of 33 million users in the Roblox metaverse, Ariana Grande‘s performance on Fortnite and BTS‘s performance on Minecraft. 21 Pilots also performed in 2022 on Roblox. The members of the American duo said they were able to convey their energy to the viewers, thanks to the motion capture technology provided by Xsens. Being both musicians, they not only sang but also played their virtual instruments. In short, the challenge was even tougher, but the motion capture lived up to expectations.

How much do concerts cost in the Metaverse? Where do they take place?

These gigs take place on video games and specialised platforms or on decentralised metaverses such as The Sandbox and Decentraland. The latter has hosted several world famous artists in the last period, including Ozzy Osbourne and Soulja Boy. There are also events that take place in theatres with the addition of virtual elements. In some cases it is necessary to buy a ticket as in a normal concert, in most cases attendance is free. In addition, seats are unlimited, one of the advantages of the Metaverse is that there are no space problems. 

What happens at a concert in the Metaverse? 

Every concert is unique and so as not to generalise, we prefer to tell you about some of them! 

The best concert in the Metaverse according to MTV

At the MTV Video Music Awards 2022, an ad hoc award was created for performances in the Metaverse, won by BLACKPINK, a Korean K-Pop group. The performance, which took place within the video game PUBG, featured stunning graphics and a surreal set design that eventually turned into a mini-game involving the audience. The skins (costumes) of the four singers were available for purchase on the video game store in the days leading up to the event.

ABBA

ABBA, the Swedish pop group, staged a hybrid event in 2022. Hybrid because they performed from a London location and at the same time, thanks to motion capture, the artists appeared on stage as if they were performing straight out of the 1970s. Mood, costumes, sets and all! 

Ariana Grande’s Rift Tour

Among the most famous concerts in the Metaverse, how can we not mention the one by Ariana Grande that took place on Fortnite on 7 August 2021 and is considered one of the best ever. In the first part, each user came face to face with the singer, a situation that seemed almost real thanks to the video game’s graphics. The moving rendition of Raindrops was followed by some dance and trap tracks in which the audience went wild. The performance ended in a temple in the clouds, where the artist opened a ‘time-space’ tunnel to allow Fortnite players to return to the set where the game is usually set.

Pre-tour event for Justin Bieber

To launch his 2022 world tour, Justin Bieber did a free show on the Wave platform on 18 November 2021. Viewers of this concert in the Metaverse were able to interact directly with the singer during the performance, chat with fans from all over the world and at certain times, express preferences on how the event should continue. 

Limits and potential of concerts in the Metaverse

Most of the concerts in the Metaverse are still in hybrid form and not fully digital. This is due to the fact that the servers hosting these events are still to be upgraded. For example, the ability to host an unlimited number of users without crashing could be improved. To eliminate the problem of sold-out tickets once and for all. 

Beyond the technical limitations, concerts in the Metaverse seem to bring great possibilities. Both for spectators and performers, who have the opportunity to experiment with special effects and settings that are difficult to reproduce on a real stage. 

If you have always dreamed of being able to teleport to the other side of the world to hear your favourite American artist who hasn’t come to Europe since 1492, concerts in the Metaverse could be for you. The sensations are different from those of a live concert, but no less ‘real’.

Tourism in the Metaverse: stop in Italy with Monuverse

The Monuverse metaverse: tourism and heritage with NFTs

The Monuverse metaverse promises to enhance cultural heritage through NFTs. How can the blockchain benefit tourism?

It has been a year since Facebook turned into Meta and brought the word ‘metaverse’ into the limelight. Since then, all centralised projects, such as Roblox, or decentralised projects (the most popular being Decentraland and The Sandbox) that virtually connect people from all parts of the world have gained popularity. This is particularly welcome in light of what was experienced during the COVID-19 pandemic. But what can be done in the metaverse today? The different platforms offer services and experiences of all kinds, from play-to-earn video games to concerts, fashion shows and art exhibitions. Many projects, such as the Italian Monuverse initiative, have shown that the metaverse lends itself to enhancing the arts and tourism sector.

Blockchain for tourism and cultural heritage: use cases

The crypto metaverse, with its blockchain-based technology, promises to improve many aspects of our daily lives. If we consider tourism and the art world, NFTs and the metaverse are already being used on various levels. Non-fungible tokens, for instance, are being used as a format to sell tickets for events and exhibitions. The metaverse also allows people to visit museums and archaeological sites directly from their homes. Crypto metaverses in the style of Decentraland host reconstructions of monuments and digital art exhibitions as in the case of Decentraland Art Week. In general, the blockchain is used by tourism operators to build platforms for booking crypto holidays, tracking data and organising loyalty programmes. NFT artwork is also used as a tool to finance the reconstruction or preservation of historical monuments, as in the case of the Ukrainian Meta History Museum of War or the Monuverse metaverse,

In the Metaverse, art and monuments are boundless

From the point of view of the public, tourists, art lovers and collectors, the metaverse has arrived to enhance their experience by making it borderless. Digital museums are truly for everyone. Reconstructing a monument in the metaverse means making works of art more accessible both economically and geographically, as it should always be according to the concept of public goods. The experience in the metaverse, without replacing a trip to the real world, can be an opportunity to experience a work of art from an unusual point of view. As well as being free, accessible from home and environmentally sustainable. With the blockchain, tourism becomes unconditional and limitless because sites of interest are always available at any time. Digital tourists can discover the world with their own eyes, from wherever they are. The digital experience can only complement that of offline tourism.

The Monuverse metaverse: close to culture with NFTs

Monuverse, the crypto art project supported by Reasoned Art, fits into this landscape. Monuverse is building a virtual reality (accessible with Oculus) to host all the world’s most important monuments in NFT format, thus making them visitable by anyone. The Monuverse metaverse will become a central environment for digital tourists, artists, creators and brands by hosting cultural promotion events. The monuments in this metaverse will then be transformed into collectable NFTs. Regarding Italian monuments, Monuverse has an agreement with the Italian Ministry of Cultural Heritage to donate a percentage of royalties on NFT sales to institutions that restore works. The first monument chosen by Monuverse is the Arch of Peace in Milan, built in 1807 under Napoleon’s rule as an entrance to the main road that connected the Lombard capital with Paris.  In this case, Monuverse entered into an agreement to donate a percentage of NFT sales to the Milan Superintendence of Cultural Heritage for the conservation and restoration of the monument itself. 

The Peace Arch NFTs are examples of the generative art style and will be minted (in crypto jargon, created and registered on blockchain) on the 11th of November in 7,777 copies with different rarities.The owners of these NFTs, with their purchase, will directly contribute to the preservation of the Peace Arch and will be able to decide what the next work in the metaverse will be.

Roblox: what is it and how does its metaverse work?

What is the Roblox metaverse and how does it work?

Find out what Roblox, the metaverse with the most active users in the world, is and how it really works!

Do you know what Roblox is and how it works? It is a centralised Metaverse that, unlike The Sandbox or Decentraland, is not based on blockchain. Roblox is a platform that contains over 40 million free games but also a virtual world in which to interact with other gamers. On Roblox, users have a lot of expressive space and can create their own games and experiences. But let’s see what Roblox is and how it works.

What is Roblox? Birth of the metaverse and relation to gaming

To best clarify what Roblox is and how this metaverse works, we must start at the beginning of its history. This virtual world was created by David Baszucki and Eric Cassel, two Californian guys with a passion for computers. The two computer wizards started their entrepreneurial career by creating a small company called Knowledge Revolution. Knowledge Revolution’s embryonic product was called Interactive Physics, a platform that used two-dimensional models to study virtual physics. In 2004, after Knowledge Revolution was sold to MSC Software Corporation for $20 million, Roblox was born. 

Over time, the company has expanded and evolved to become an institution in the gaming world, especially for younger people, as there is no minimum age to join the platform. In 2020, the Roblox metaverse achieved an incredible popularity that allowed it to go public. To date, its market capitalisation is around $25 million. But how many people are there in this virtual world? Active users during 2022 were more than 50 million, and earlier this year, the Roblox metaverse managed to break the record for the number of simultaneously connected gamers on one platform, 9.3 million on 4 February 2023.

Now, however, we need to point out that its metaverse is different from decentralised metaverses such as The Sandbox or Decentraland. It is in fact a completely centralised and managed platform, similar to a classic video game. Roblox also does not use blockchain technology and does not guarantee digital ownership of virtual worlds and objects through NFTs or tokens. Although this platform is not related to the Web3 universe, it is nevertheless one of the realities that is contributing to the development and spread of the Metaverse in popular culture. 

Join the Roblox metaverse and create your own virtual world!

In the Roblox metaverse you can really play anything! Among the 40 million games available, there is plenty of choice. You can become a professional puppy breeder by playing the popular game Adopt Me! You can fight against your friends in a DragonBall-inspired fighting game called DBZ Final Stand and you can sculpt your avatar’s physique in the gyms of the virtual world of Training Simulator. The first Roblox game was Rocket Arena, which was released on the platform in January 2006 and is still available in its first version, which is now called ‘Classic Rocket Arena’. 

As anticipated, this is not only a platform on which to play different video games for free, but also an ecosystem that allows users to create their own 3D worlds. Thanks to Roblox Studio, a programme that uses the company’s proprietary graphics engine and the Lua Script programming language, users can express their creativity and share their creations with the other inhabitants of the Metaverse.

Having understood what Roblox is, the only question remains: how does it really work? Using the platform and playing the games on it is totally free. The only paid items within the Roblox metaverse are the skins and the infinite number of virtual objects with which to customise avatars and environments. These ‘digital goods’ can be created and sold by anyone; the exchange takes place thanks to the game’s currency called Robux. The in-game currency works like the more classic coins of traditional video games, so it has no real value outside the game and can be purchased from the store through fiat currency payments.

The most exciting concerts on Roblox

Roblox is one of the virtual worlds with the most concerts, so much so that it was chosen by MTV as the location for its award ceremony dedicated to the Metaverse. The TV channel included the “Best Metaverse Performance” award in the “Video Music Awards 2022” (VMA) in August 2022. The VMAs were also broadcast, on Monday 29 August 2022, in Roblox’s MTV world ‘The VMA Experience’. 

Among the most exciting events in this Metaverse, Justin Bieber, Twenty One Pilots and Charli XCX in 2021, all three nominated for the MTV ‘Best Metaverse Performance’ award. The most important concert of 2023 was, so far, the one organised to celebrate the Super Bowl, the final of the world’s most important American football championship, the NFL. Instead of Rihanna, who performed at half-time of the game that was played, real world, in Glendale, Arizona; taking the virtual stage at Roblox was Saweetie, a rapper who is very famous in the States. The event took place from 10 to 12 February, inside ‘Warner Music Group’s Rhythm City’, the virtual world owned by the record label, and was also an opportunity to promote the official NFL (National Football League) game, Super NFL Tycoon available to users of the metaverse from 4 February. 

Some famous brands that have chosen Roblox

Attentive brands that tend to ride new trends are becoming more and more inclined to use new technologies in order to promote their products to new generations. Gucci and Nike, for example, know what Roblox is and how its metaverse works! Gucci debuted there in October 2021 with its dedicated world called Gucci Town. It is a lush and colourful mansion that offers those who visit it the opportunity to earn GG gems, create collectible clothes and accessories, and purchase limited edition virtual items. A virtual Gucci handbag sold for around $4,000 in the Roblox metaverse. 

Another example of brands that have chosen this virtual world? Nike, with the virtual city Nikeland! Nike‘s objective is to test new prototypes of shoes and clothing, to capture the tastes and preferences of young users in order to develop increasingly popular products. Kellog’s, Tommy Hilfiger, Givenchy and many other iconic brands have also found a home on Roblox!
Now that you know what Roblox is and how its metaverse works, find out how to get into it! You’ll be able to play more than 40 million games, interact with many famous users and brands, and attend concerts like never before!

What happened at Decentraland’s Metaverse Art Week exhibition 2022

What happened at Decentraland’s Metaverse Art Week 2022

From the 24th to the 28th of August, the most famous digital artists and projects gathered in Decentraland. Find out what happened at Metaverse Art Week 2022!

Decentraland, the virtual world on Ethereum, hosted the third edition of Metaverse Art Week from the 24th to the 28th of August. After the first metaverse Fashion Week this March, Decentraland dedicated five days to contemporary art on the blockchain. In the metaverse’s art districts such as Soho Plaza or the Voltaire Art District, events, exhibitions and panel discussions dedicated to digital art on blockchain took place. The theme and title of Metaverse Art Week in Decentraland was ‘The World is Made of Code‘. Reality can be considered as a set of codes, patterns and formulas that shape both the natural and especially the virtual world. The initiative therefore welcomed artworks and immersive experiences inspired by the drawings and mathematical patterns found in nature. Top artists from the NFT scene and beyond participated in Metaverse Art Week. Find out about the art projects in Decentraland and what happened at Metaverse Art Week 2022!

The theme of the Metaverse Art Week: the relationship between mankind and technology

The immersive art installations, performances and conceptual art exhibitions of the Metaverse Art Week opened a debate on the topic of the relationship between individuals and technology and how the latter shape reality. This theme is inspired by the guiding questions of the Art Biennale in Venice opening in April 2022. The artists currently exhibiting in Venice have questioned the changing definition of mankind in relation to technology, as well as its pervasive and transformative presence. Decentraland’s Metaverse Art Week explored ‘code’ as a factor that brings virtual worlds to life, and how ““the human spirit is hardwired to elicit an emotional response when presented with art inspired by the mathematical designs present in nature”  . The Decentraland initiative was a moment of alignment between the reflections of the contemporary art world and the new frontier that is Web3.

An audio-guided tour and Artnet debates

One of the novelties of the Metaverse Art Week was an art walk with an audio guide made possible by Audio Art Tour. Once you successfully landed in the welcome area with your avatar, you could request a pair of virtual headphones with which to listen to the guide along the entire route of the exhibitions in Decentraland. Just like in a museum, the voice of a guide explained the works in detail and presented the projects. During the five days of the event, Artnet, one of the largest online art communities, organised artistic performances, live-poetry sessions and the creation of pieces of art with artificial intelligence in connection with the theme of the Art Week.

Frida Kahlo’s artistic legacy on show at Decentraland

Frida Kahlo‘s family, in collaboration with Ezel (a platform offering services to create Web3 experiences, opened a permanent installation called Frida Kahlo Family Red House in Decentraland. It tells the story of the first half of the artist’s life and displays some never-before-seen works. For the occasion, unpublished artwork, artefacts and family histories of the Mexican painter were digitised. The founders of Ezel claimed to have collected almost 800 unique pieces that belonged to the artist, including sketches, original artwork and other objects used in Kahlo’s daily life.

Each piece of content was scanned using high-resolution image capture tools, requiring at least 30 different images and videos. Decentraland users will be able to visit the works within the installation that replicates the Red House owned by the family in Mexico. Pedro Quinzaños Cancino, the founder of Ezel and a friend of the Kahlo family, said in an interview that when he suggested the project to Frida’s heirs, he was met with some resistance and scepticism. Later, the Kahlo family chose to rely on emerging technologies such as the metaverse to tell stories that would otherwise have disappeared.

The Sotheby’s and UXart Lab exhibition

During the event, UXart Lab exhibited the works of some Latin American artists from the 1960s such as Marta Minujín, Gyula Kosice and Eduardo MacEntyre who best represent kinetic and pop art, but also contemporary and digital artists such as Alberto Echegaray Guevara. These artists are currently exhibiting in real life at the Venice Biennale. Another art company that is no stranger to virtual galleries in Decentraland is the auction house Sotheby’s. Its vice-president Michael Bouhanna explained that their experience with Decentraland allowed them to experiment with cutting-edge exhibitions for digital works and transpositions of physical works. At the Metaverse Art Week, Sotheby’s reaffirmed its interest in NFT and blockchain art by presenting new pieces in the exhibition such as jewellery sculptures in collaboration with Metagolden. Decentraland’s Metaverse Art Week was also attended by a number of NFT marketplaces such as Rarible, OpenSea, SuperRare and Know Origin. The latter presented an installation entitled ‘Crypto Winter’, which mocks the volatility of cryptocurrencies.

The Ukrainian Museum of War History

At Metaverse Art Week, an exhibition space was also reserved for the works of the Meta History Museum of War: the NFT project that chronicles the war in Ukraine step by step since the beginning of the conflict. The aim of the digital museum, founded on the 25th of March 2022, is to document what is happening on the frontline through artistic expression and to raise funds for the reconstruction of the country’s artistic heritage. From the sale of these non-fungible tokens, more than $1 million has been raised.

Cash Labs’ gallery with Damien hirst and Estée Lauder’s POAPs

Cash Labs, a Web3 content creation platform, launched its first art gallery in Decentraland. Among the artists it presents are Damien Hirst, Laurel Charleston and Justin Aversano. The Cash Labs exhibition has been organised on four levels, the first group working under the theme ‘From Physical to Digital’, and it is the level where Hirst is exhibited. The second level is entitled ‘Art for the Metaverse. The third level of the Cash Labs exhibition is dedicated to the first NFT collection by Nick Knight, the British fashion photographer and founder of SHOWstudio.com. On the fourth and final floor, users who visited the entire exhibition received a free POAP by Estée Lauder as a certificate of participation.

These were the highlights of what happened at Metaverse Art Week 2022 in Decentraland, the public reception was good but there was no shortage of criticism. Some participants pointed out that the graphic layout of Decentraland’s metaverse was still primitive and unsuitable for conveying the complexity of contemporary art. For Decentraland, however, this can only be constructive criticism.

According to Vitalik Buterin, Meta, Facebook’s metaverse, is destined for failure

Vitalik Buterin: Facebook's metaverse has no future

According to Buterin, the Metaverse is on its way, but not as Meta intends it. Why is the founder of Ethereum so sceptical?

Vitalik Buterin doesn’t mince words! The founder of Ethereum stated on Twitter on the 31st of July 2022 that he does not believe in any of the attempts by established companies to build a metaverse. Buterin spoke out, responding to a tweet by Dean Eigenmann, a young developer of smart contracts on the blockchain. The statement concerns the concept of the metaverse. In fact, Eigenmann stated that he supports the abstract idea of the metaverse, but that in his opinion, he is convinced that the transition of people into the ‘virtual world’ will not happen through the way traditional companies are promoting it.

Vitalik Buterin agreed with the developer’s assertions, adding that already established tech companies that are now trying to create their own metaverse, such as Facebook with Meta, are not going anywhere! The Metaverse is generally described and imagined as a 3D online world centred on social sharing, which will be able to establish itself through the use of innovative technologies such as virtual and augmented reality. But according to Vitalik, it is so far impossible to imagine the use cases and predict the problems that the metaverse will have to solve. Paraphrasing Buterin’s thesis, any attempt to build a metaverse today is a step in the dark and pure experimentation, and as with anything new, the risk of failure is high.

Meta’s initiatives and the issue of decentralisation

Meta is going through one of the most difficult times since its founding. For the first time in its history, the company recorded a 36% drop in profits in the last year. It is nevertheless continuing to develop new software, with the aim of guaranteeing users a fully immersive experience. Meta Horizon World for example, is the first embryo of the Facebook metaverse. It currently takes the form of a virtual reality video game/social network in which users can create their own worlds. Meta is also working on a new physical product that will facilitate interaction with the Metaverse: the Meta smart glasses. With this new product, which should be released by 2024, it will be possible to record videos and interact with the virtual world through virtual and augmented reality technologies. Vitalik’s criticism, however, revolves around the issue of centralisation. According to the founder of Ethereum, it is precisely the very nature of companies such as Facebook and Microsoft that is at odds with the Metaverse concept. The strong centralisation of these companies does not fit at all with the basic ideas of these virtual worlds, and more generally of Web3, such as digital ownership and the total decentralisation of protocols. For Vitalik Buterin, the Facebook metaverse has no future precisely because it will not be on the blockchain.

An alliance for the decentralised Metaverse: OMA3 is born

In order to reflect on the decentralisation of the Metaverse, the Open Metaverse Alliance was created, a decentralised organisation composed of the major players in the field. The OMA3 is a DAO that operates as a consortium. The DAO is guided by principles of inclusiveness, transparency and decentralisation and is based on the important concept of real-time interoperability. Interoperability means the ability to interact with multiple protocols simultaneously and easily in a system where digital ownership is universally recognised. Let’s say we own, for instance, an avatar on The Sandbox; in a system where interoperability is guaranteed, we will own that avatar in whatever metaverse we are in.

Among the members of the organisation are established realities in the Web3 world such as: The Sandbox, Animoca Brands, Alien World and Decentraland. OMA3 is thus a body that verifies and promotes the decentralisation of metaverses, with the aim of creating a unified Web3 universe in which the ownership of digital assets (such as NFTs) is universally recognised and controlled by users. At the opposite end of this vision stands Meta, Facebook’s metaverse, with its centralisation of resources, data and platforms. The decentralisation-oriented work of OMA3 could avoid the failure of the ‘metaverse’ concept as envisaged by Vitalik Buterin. The future of the metaverse will play out on one feature: blockchain yes or no?