Bits and pieces from the Metaverse

Biden Administration Releases Framework for Crypto Regulation

The Biden administration has issued long-awaited framework for the potential regulation of cryptocurrencies. The recommendations are designed to bring stability to the growing industry and protect businesses and consumers from currency crashes and fraud, with focus being placed on the prevention of crimes involving cryptocurrencies such as money laundering.
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At NYFW, fashion struggles to figure out where Web3 fits

This year’s New York Fashion Week also hosted Web3 and metaverse players and influencers. Various events featured esport stars and other influencers, with some attendees even being able to claim a free NFT and other events being held exclusively in the metaverse. High-profile in-person events, however, seem to have overshadowed these new showcases of digital fashion and some attendees also lamented the quality and organisation of some events. > Read more

Digital Fashion Platform BNV Will Launch Its Own Metaverse

BNV, a digital fashion platform, is planning to launch BNV World, will be specifically tailored to showcasing complex and intricate digital fashion pieces for citizens of the metaverse. Some areas of the BNV World will supposedly be token-gated, offering NFT holders “different levels of accessibility and wearability”, however there will also be virtual spaces and stages designed for events and digital fashion collection launches. > Read more

South Korean ministry recommends enactment of special Metaverse laws

The Ministry of Science and ICT (MSIT) of South Korea has announced plans for new guidelines and laws for the metaverse. Until now, the metaverse has also been subject to traditional video gaming laws, however the MSIT has recognised that this serves as a deterrent to the growth of new ecosystems. This move comes after South Korea invested almost $200 million in the creation of its own metaverse ecosystem. > Read more

This AI company is reconstructing and mapping human faces to create more realistic metaverse avatars

Lumirithmic, a tech start-up based in London, as developed a low-cost 3D face capture technology using artificial intelligence (AI). This technology enables the creation of realistic avatars by using ultra-realistic 3D renderings of a person's face. The company focuses on consumers being able to project their real self and not their cartoon self in the metaverse. > Read more