Metaverse Magic Ep-25 ; Global Updates
By Vishakha Thakur
Metaverse became a buzzword since Facebook rebranded to meta and now, Meta’s Reality Labs division has lost $4 bn in Q1 2023. On the other hand, Indian business executives are keen to integrate the metaverse in organisational activities according to a report by PwC. Also, Web3, Metaverse, Cryptocurrency, Gaming, and DeFi have taken a Center Stage at Upcoming Innovation Startups Exhibition & Summit in Dubai. With all this happening in the world of metaverse, it is gaining traction day by day.
So let’s listen in to what Mr. Utsav Mathur, Founder and CEO of GMetriX has to say about it.
And now, let’s take a look at the important events that made headlines.
In the first quarter of 2023, Meta’s Reality Labs division lost $4 billion. The company’s metaverse division lost more than $13.7 billion in 2022. Several cost-cutting initiatives, including repeated rounds of layoffs, have been implemented by the corporation. CEO Mark Zuckerberg has already stated that 2023 will be a year of efficiency.
And now, an interesting update about metaverse as it is being made more secure.
To improve secure integration for its clients, The Sandbox has teamed with Ledger Enterprise. The agreement will enable partners to convert their nonfungible token collections to the Ledger wallet, improving digital asset security.
Recently, L’Oréal Professionnel has released the first avatar hairstyles on various metaverse platforms. The Gravitas collection, which is available on Ready Player Me, Roblox, and Zepeto, includes five new branded styles from L’Oréal Professionnel, giving gamers a wider range of ways to express themselves.
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