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Mainstream adoption of the metaverse will require more than a dead-eyed avatar and high-quality graphics. The world met the first metaverse in 1992 when Neal Stephenson’s Snow Crash depicted an online world that users could only access via virtual reality (VR) goggles. Stephenson described this universe as a place where users could receive computer-generated bodies, hang out with friends and attend events like concerts. The 2018 film Ready Player One revisited this theme, emphasizing that the metaverse would overtake the real world and become the place where people spend most of their time. Currently, however, the metaverse and VR experiences are a far cry from how they were imagined in science-fiction media. Today’s graphics on metaverse and VR platforms don’t provide the realism that many would expect from a digital immersion experience. According to an article in Fast Company, the dead eyes of Mark Zuckerberg’s metaverse avatar in Meta’s latest release suggest a graphical qua...

The virtual asset manager and lending platform suspended withdrawals following challenges at Haru Invest, a similar entity. Delio, a virtual asset manager and lending platform based in South Korea, has announced the temporary suspension of customer withdrawals “in order to safely protect the assets of customers currently in custody.” The company made the decision in response to the recent suspension of digital asset deposits and withdrawals at Haru Invest, which has led to heightened market volatility and increased confusion among investors within the region. According to Delio, the suspension will remain in effect until “the situation and its aftermath are resolved.” A translation of the announcement read: “In order to safely protect the assets of customers currently in custody, Delio will inevitably suspend withdrawals temporarily as of June 14, 2023, 18:30." Delio has reassured its clients that it will do its best to protect their assets “while quickly grasping the facts ...

According to Polygon Labs, Polygon 2.0 will enable users to create, exchange, and program value on the internet. On June 12, Polygon Labs announced “Polygon 2.0,” a set of upgrades that seeks to establish the "Value Layer" of the internet , which the company says will allow users “to create, exchange, and program value.” 1/ Our vision for Polygon is simple: to build the Value Layer of the Internet. The Internet allows anyone to create and exchange information. The Value Layer allows anyone to create, exchange, and program value. Enter Polygon 2.0: a blueprint to build the ultimate Value Layer. pic.twitter.com/9eYSr3H1L5 — Polygon (Labs) (@0xPolygonLabs) June 12, 2023 According to an announcement shared on Twitter, “Polygon 2.0 is a set of upgrades that radically reimagine almost every aspect of Polygon, from protocol architecture to tokenomics to governance. It is a roadmap for how Polygon will become the Value Layer, offering unlimited scalability and unified liquidity...

Up-and-coming NFT racing game sold out all its collectibles and launched a demo version while integrating various other NFT IPs. Bridging the gap between the NFT and blockchain gaming spaces has been a persistent challenge for crypto enthusiasts and developers alike. Major NFT collections try to integrate utility and bring benefits to their holders. However, building a full-fledged game often lies outside of the budget capabilities for such projects. On the other hand, collectibles from gaming projects rarely reach the popularity and valuation that blue chip NFTs have. So the question remains: How can NFT collectors use their digital assets in other Web3 projects, specifically, active gaming platforms? One project has found the solution and is already attracting a solid user base. NFT collections get into the race PetaRush is an ambitious racing game project that uses NFTs to represent the playable characters on the platform. The project has already successfully sold out both its whit...

While Twitter users may be more crypto-native, that doesn’t mean they’re going to win in the NFT arena. The nonfungible token (NFT) industry has experienced some market turbulence over the past few months, but this hasn’t stopped both Twitter and Instagram from making moves into an industry that some estimate could be worth $231 billion by 2030.  This comes off the back of Twitter having recently announced NFT Tweet Tiles and Instagram releasing an array of different NFT-related tools, and many NFT enthusiasts are naturally starting to deliberate which one will come out on top as the go-to social media platform for NFTs. Going by their unique value proposition and recent events, it is evident that Instagram currently has more in its favor than Twitter when it comes to NFT integration. The value of integrating on Instagram One of the key determining factors for upholding Instagram as having more NFT potential than Twitter is its unique value proposition. When looking at Twitter’s core ...

The crypto trading firm sees NFTs becoming more intertwined with brand IP, while Web3 apps with "real world utility" gain traction. Despite an eventful year fraught with crypto collapses and price drops, Steven Goulden, a senior research analyst at crypto trading firm Cumberland has pointed to several “green shoots” to break the surface in crypto in 2023. In a 14-page “Year in Review” report released on Dec. 24, Goulden said he saw four “ emerging narratives ” in 2023 that will lead to “significant progress” for crypto over the next six to 24 months. These include non-fungible tokens (NFTs) becoming a “go-to method” of tokenizing a brand's intellectual property (IP), Web3 apps and games becoming “genuinely popular,” while Bitcoin (BTC) and Ether (ETH) could become more commonly used as a nation’s reserve asset. In 2023, we anticipate that we’ll see meaningful green shoots break the surface in several key areas, which will pave the way for significant progress in the...