Metaverse Web-3.0 update — April 2022
Web-3.0 has continued to make headlines with some exciting developments having been announced recently. From one of largest Metaverses being named as one of Time Magazines, ‘Top 100 companies’ to the US State of Florida exploring the possibility of accepting Cryptocurrency as a form of payment for tax.
In this article we will take a look at some of the biggest headlines relating to Web 3.0 from the past 2 weeks.
What is Web-3.0?
Some of the key features of Web 3.0 are the Metaverse, Non-Fungible Tokens and Decentralised Autonomous Organizations (DAOs).
For more information on these topics, please check out our articles on the following topics.
Web 3.0 is constantly evolving and there is always some exciting news and developments occurring. In this article we will take a look at some of the biggest developments to have happened over the past 2 weeks.
The Sandbox named in Time Magazines ‘100 Most Influential Companies of 2022’
Leading Metaverse provider, The Sandbox has been named as one of the ‘100 most influential companies of 2022’ by leading magazine, Time.
The Sandbox has sold at least $2 billion worth of digital plots of “land” and has attracted many big brands and celebs who are creating different interactive experiences for users to enjoy.
The US State of Florida is considering accepting taxes in Crypto for local businesses
Florida Governor Ron DeSantis, recently confirmed that the US state of Florida is open to accepting payment for taxes in Cryptocurrencies. However, this policy will only apply to businesses operating in Florida.
PUBG developer partners with Solana Labs
Krafton, the developers of the hugely popular game, PUBG, have announced a partnership with Solana Labs. This partnership is expected to bring non-fungible tokens (NFTs) to the game. PUBG is reported to have approximately 696,000 active users playing concurrently in 2022.
Spotify is looking include Blockchain in its service
Reports have emerged which suggest that the leading music streaming service, Spotify plans to add NFTs and blockchain tech into its service. The announcement has been welcomed by artists as it will provide an extra source of royalties earned from using the platform.
Bored Ape Yacht Club has raised $450 million to build an NFT Metaverse
Yuga Labs, the creators of the Bored Ape Yacht Club, has successfully raised $450 million in funding. Yuga Labs is planning to use the money to create its own games and metaverse projects. The proposed Metaverse project known as, Otherside, will be an MMORPG connecting its users to the broader NFT universe.
In order to bring Otherside to reality, Yuga Labs will partner with a few different game studios.
Snoop Dogg has released a new music video filmed entirely in the Metaverse
The music video for Snoop Doggs latest single, “House I Built” from the album “BODR ” was filmed entirely in the Sandbox. Snoop Dogg describes “The ‘House I Built’ as drawing a parallel between how he built his life and career and how he plans to build his Snoopverse virtual world in The Sandbox.
Snoop Dogg will also hold a Metaverse concert in The Sandbox later in the year as well.
In conclusion
The Metaverse is again showing its vast appeal with a whole host of celebrities and brands looking to get involved. Each week there are more and more virtual announcements about partnerships and new experiences opening in the Metaverse.
If you are interested in learning more about how your business could get involved with the Metaverse, why not book a Consultation with one of our Blockchain experts here
Please note that this article is for information purposes only and does not constitute legal advice.
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