COMING to you every Sunday, 24/7 Crypto will help you keep track of every single important news story that happened this week in the metaverse.
Japan looking to appoint a minister for the metaverse
Japan is looking at appointing a politician to specialise on the metaverse, NFTs and cryptocurrency so the country can “drive innovation in the Web 3.0 era”.
The move would be unprecedented around the globe, with no other country having such a role.
Recommendations were unveiled in a report commissioned by the government.
Read more HERE
HSBC launches metaverse investment fund
HSBC has launched an investment fund to capitalise on opportunities in the metaverse.
In a statement HSBC, one of the world’s largest banks, said its Metaverse Discretionary Strategy portfolio, managed by its asset management arm, will focus on investing within the metaverse across five areas – virtualisation, computing, infrastructure, experience and discovery, and interface.
HSBC said the portfolio is designed for its high net worth and ultra-high net worth investors in Hong Kong and Singapore.
Read more HERE
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Mark Zuckerberg creating digital coin known as ‘Zuck Bucks’ for his metaverse
Despite Meta giving up on its plans to create the Diem stablecoin, Facebook’s parent company is still interested in creating tokens for use within the metaverse.
Meta is exploring a centralised in-app token similar to ROBUX for Roblox.
Unlike a cryptocurrency, it is thought the digital tokens will have a price fixed by Meta and will not be openly traded on exchanges.
Read more HERE
Ledger buys land in The Sandbox as part of push to educate crypto users
One of the largest providers of hardware cryptocurrency wallets, Ledger, has announced a partnership with The Sandbox.
The partnership will focus on educating users on security in the metaverse and managing the self-custody of their digital assets.
Ledger plans to provide custom Ledger Nanos to the owners of SAND as part of the deal.
The Sandbox tweeted: “We’re partnering with Ledger to secure the metaverse and increase security, education & support for users.
“They will be building a hub on their LAND, providing users with support alongside learning and gamified experiences inside TheSandbox.”
Starbucks will enter the metaverse in 2022
Starbucks is set to enter the metaverse.
Starbucks’ CEO Howard Schultz said the company plans to jump on the rising hype around NFTs and the metaverse to build a name for their brand in the virtual world.
Schultz said: “If you look at the companies, the brands, the celebrities, the influencers that are trying to create a digital NFT platform and business, I can’t find one of them that has the treasure trove of assets that Starbucks has from collectibles to the entire heritage of the company.”
Schultz also said Starbucks is equipped with the resources and knowledge necessary to establish itself in the virtual ecosystem.
Adidas is launching a platform to create metaverse avatars for fans
Adidas is launching a new platform that will enable fans to develop customised avatars that will have “interoperability” – meaning they’ll be able to enter and explore “over 1,500 different metaverse apps and games.”
The new platform will also use AI to tailor each avatar to the personality of their creators.
Chipotle enters the metaverse… AGAIN
Chipotle has entered the metaverse again.
The burrito chain launched the Chipotle Burrito Builder on gaming platform Roblox.
Players can earn Burrito Bucks by rolling burritos.
On National Burrito Day (April 7), the first 100,000 Roblox players to successfully roll a burrito could exchange the virtual currency for a real-life Chipotle entree via the chain’s app or website.
Chipotle said it’s the first time a brand has let Roblox players earn in-game currency that can be exchanged for real-world products.
Chipotle CMO Chris Brandt said: “We’ve tapped into play-to-earn, an emerging engagement model in the metaverse, to launch our newest experience on Roblox that celebrates the iconic Chipotle burrito.
“We’re blending the metaverse and real-world elements of our brand to take the Chipotle fan experience to a whole new level.”
This comes after last October, Chipotle debuted its Boorito Maze on Roblox. Players who made it through the maze nabbed a digital code for a free burrito, leading to Chipotle’s highest digital sales day in its history.
Meta cancels 2022 developers conference so it can focus on building the metaverse
Meta has cancelled its 2022 developers conference so it can prioritise its time and energy on building the metaverse.
This is the second time in three years the company has cancelled the annual event.
