Oscillating in Metaverse #8
Top metaverse news for this week (Sep 29 to Oct 6)
In this week’s Oscillating in Metaverse edition, we bring you news around, across, and in the metaverse.
The Fed is Coming After Metaverse
After Kim Kardashian was charged by the SEC for crypto promotion, NFT, and metaverse projects such as Axie Infinity and Bored Apes are on caution. It is expected that SEC is next coming after metaverse projects from these brands.
Though the metaverse is still at a nascent stage, it is been recognized for its potential in the next coming years. Companies like Meta, Google, Microsoft, Nvidia, and others have set apart plans for metaverse investments and projects. The tremendous scale of growth of early mover metaverse games has also been a good use case.
However, another side of the coin is the financialization of the metaverse. Metaverse real estate projects have been promoting questionable monetization schemes before opening up access to real experience for the users. Also, the game economies in the metaverse have seen million-dollar growth at a speed that requires setting up certain controls for monetary policies within the game as a security measure. This is inviting the attention of the regulatory authorities.
Setting up rules and regulations in the metaverse should be the first step for projects. Efforts need to be taken for ensuring user protection against financial and data loss.
Read more: CoinTelegraph.com
Nvidia Vs. Qualcomm: Battle Of The Metaverse Chipmakers
Reports suggest the metaverse will grow to $5 trillion by 2030. Semiconductors play a crucial role in enabling this growth by building the infrastructure including communication, graphics, and computation around it.
Two main semiconductor companies that can be crowned as metaverse chipmakers are Nvidia and Qualcomm. Both Nvidia and Qualcomm stocks are surging these days.
For Nvidia, it is due to its product launch announcements. While Qualcomm has put Apple in the back seat as the latter lost the bid for 5G patents against Qualcomm in the US Supreme Court.
Are you investing in any of these shares? This report compares the two companies based on their products, technology, growth outlook, and profitability in detail.
Read more: SeekingAlpha.com
Warner Music Group Looking for Director of Metaverse
US music conglomerate Warner Music Group is looking to expand its footprint in the web 3 world. The news for hiring a senior professional who can develop and manage web 3 projects comes a week after their partnership with OpenSea for artists and music NFT drops.
As per the LinkedIn post, the job lists creating metaverse marketing plans and finding new opportunities within metaverse, web3 gaming, AR, and VR, among other key responsibilities.
The group is a conglomerate of multiple music labels such as Atlantic, East West, and Warner Records. It is to be noted that Warner Music Group maintains over 1 million copyrights with its group of companies.
Read more: Coindesk.com
In the Metaverse
Featured article: The fast fashion brand Forever 21 hopped onto the metaverse bandwagon with an exclusive partnership with the Virtual Brand Group. With this business deal announcement, Forever 21 was instantly in the news in all major media reports. It also collaborated with digital artists and influencers to make the metaverse Forever 21 shop city, an instant hit. But is it a hit or a miss? Read here How Forever 21 does Marketing in the Metaverse.
Across the Metaverse
Tim Cook downplays metaverse; comments lack of understanding by ‘an average person’