Issue #06

MoonPay Expands Further into NFTs Despite Crypto Slump

Crypto payments company MoonPay is partnering with major entertainment brands such as Fox Corp., Universal Pictures, Creative Artists Agency, and Death Row Records to create NFT collections using MoonPay’s platform HyperMint. Despite the current crypto crisis, MoonPay is optimistic that HyperMint can help NFT technology find better real-world uses and help develop the technology further.Read more

Racism could ruin the metaverse if tech doesn’t improve diversity now, CTO warns: ‘It absolutely is a problem’

The lack of diversity in the tech industry could have a serious effect on the metaverse. Online users already experience harassment on social media platforms built primarily by white and male developers, and concerns have been raised that these issues could be transferred to the metaverse. In this article Jeff Nelson, the co-founder and CTO of Blavity, discusses racism in the metaverse and suggests possible strategies to increase diversity and representation in the tech industry.Read more

Meta’s new digital fashion marketplace will sell Prada, Balenciaga and Thom Browne

Meta recently introduced a new marketplace offering outfits for avatars in Instagram, Facebook and Messenger. Prada, Balenciaga and Thom Browne are among the first brands to collaborate with Meta to offer designer clothing options ranging from $2.99 to $8.99. This is just the latest example of the fashion industry embracing the metaverse and recognising the increasing importance of virtual spaces.Read more

VivaTech 2022: Luxury group LVMH and beauty giant L’Oréal on embracing metaverse and new tech

The VivaTech conference in Paris offered leading names in the beauty and fashion industry a prime opportunity to showcase how they will incorporate tech and Web3 into their business models. LVMH, representing luxury goods such as Louis Vuitton and Dior, has released a new NFT smartwatch with its brand Tag Heuer and opened a virtual shopping world for its beauty brand Sephora. NYX, a subsidiary of beauty giant L’Oréal, has also partnered with The Sandbox to offer a special avatar collection. Even Yves Saint Lauren has utilised neurotechnology to enable consumers to find the perfect perfume to match their mood.Read more

Facebook Begins Testing Ethereum and Polygon NFTs on Profiles 

Meta has launched a “digital collectables” feature on Facebook which allows users to showcase their NFTs and connect their cryptocurrency wallets to their profiles. This development comes after Meta gradually rolled out NFTs for selected creators on Instagram earlier this year. These features will be free of charge and also include to ability to share NFTs as augmented reality stickers.Read more

The retailers setting up shop in the metaverse

A growing number of retailers are setting up shop in the metaverse. Firms such as Adidas, Burberry, Gucci, Tommy Hilfiger, Nike, Samsung, Louis Vuitton and HSBC have begun expanding into the metaverse and are being faced with the difficult decision of deciding where to locate in the virtual world. There are currently over 50 different providers of virtual worlds. However, it is still unclear, which of these platforms will end up being successful in the long run.   Read more