Burberry unveils Minecraft collab, includes physical capsule collection

Burberry has announced a collaboration with Minecraft for an in-game adventure called Burberry: Freedom to Go Beyond. The game experience will also be partnered with a physical capsule collection as well as digital extensions and experiences. This is the first time Burberry has teamed up with this gaming franchise and comes as Burberry continues to branch out into the emerging metaverse. > Read more

Ralph Lauren redesigns Polo logo for first time ever in new digital collection with Fortnite

Ralph Lauren has resigned the iconic Polo logo for the first time ever for a digital fashion collection with Fortnite. While Fortnite is not built on the blockchain, this move still marks the beginning of Ralph Lauren’s venture into the virtual world and its embrace of a growing customer base that spends billions of dollars a year on games. Ralph Lauren is thus just one of the latest fashion brands to realise the potential for their brand by utilising technology and the digital realm. > Read more

Gucci Vault enters metaverse with virtual world in The Sandbox

Gucci has unveiled its virtual world in The Sandbox called Gucci Vault. The experimental concept space will allow players to enjoy a 360° experience which showcases curated NFT artworks, garden concepts and vintage pieces. This is the latest expansion by Gucci into the metaverse since launching Gucci Town on Roblox and accepting cryptocurrency as a payment option at selected US stores. > Read more

BAYC Owner Yuga Labs: Metaverse NFT Open Standards Coming ‘Very Soon’

Until now, interoperability between metaverse platforms has been limited. Yuga Labs, however, is planning to publish object standards for their characters to change this. Designers will therefore be able to create 3D models for metaverses outside of BAYC’s Otherside, thus achieving interoperability for BAYC characters throughout the emerging metaverse. This move also comes after the Open Metaverse Alliance (OMA3) launched earlier this month and founded a working group to develop interoperability standards. > Read more

Billions being spent in metaverse land grab

Research has shown that nearly $2bn has been spent on virtual land in the past year as companies and individuals race to get a foothold in the emerging metaverse. Platforms such as Voxels, The Sandbox and Decentraland are currently the main platforms and are also home to major brands such as Samsung, Ubisoft, Warner Music and Gucci. Despite the value of metaverse real estate being at a one-year low, more and more companies and individuals continue to purchase virtual land, especially in order to promote businesses and connect with potential customers. > Read more

Apple tightens its rules on crypto and NFTs in its App Store

Apple has updated its App Store rules stating that apps may facilitate “transactions or transmissions of cryptocurrency on an approved exchange.” Such apps can, however, only be offered in countries or regions where licensing and permission to operate a crypto exchange exists. Apple’s guidelines also specify that apps may use in-app purchases to sell NFTs and sell services related to them, such as minting, listing, and the transferring of these tokens, as long as the apps exclusively use Apple’s in-app payment mechanism. > Read more