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.
South Korea plan to invest $187M in national metaverse project
The South Korean Ministry of Science and ICT have allocated $186.7 million to create a metaverse as they look to develop digital content and corporate growth within the country.
The metaverse is called “Expanded Virtual World,” and the funding will be used to expand the virtual industrial growth of cities, education and media.
South Korea said they’ll host creative activities to drive interest, such as a metaverse developer contest and a hackathon.
Park Yungyu, head of communication and policy said: “It is important to create a world-class metaverse ecosystem as the starting point to intensively foster a new hyper-connected industry.”
OpenSea updates banned countries list
NFT marketplace OpenSea started banning Iranian users from its platform this week.
Iranian users took to Twitter on Thursday to say their accounts were being deactivated or deleted.
An OpenSea spokesperson said: “We have a zero-tolerance policy for the use of our services by sanctioned individuals or entities and people located in sanctioned countries. If we find individuals to be in violation of our sanctions policy, we take swift action to ban the associated accounts.”
The Sandbox metaverse hit 2 million users
The Sandbox metaverse game, owned by NFT investment giant Animoca Brands, surpassed 2 million registered users.
There are 200 quests that players can complete to earn a chance of getting an Alpha Pass NFT, which will reward the owners up to 1,000 SAND – worth around $3,000.
Dolly Parton enters the metaverse
Dolly Parton is launching an NFT collection and marketplace dubbed the ‘Dollyverse’.
Parton’s project consists of tokenised artwork and music as part of a promotion for her upcoming album Run, Rose, Run.
The album is also accompanied by a book that was co-authored by James Patterson.
The ‘Dollyverse’ was developed by Eluvio and will host the NFT sales along with a live-streamed musical performance on March 18.
The NFTs will be up for sale during and after the live performance.
Users who watch the performance will also receive free NFTs.
HTC announce plans to launch metaverse phone
HTC is set to launch a new smartphone designed for future metaverse use cases.
The phone will be able to handle AR (augmented reality) and VR (virtual reality) applications.
The first Insurance firm is setting up in the metaverse
US-based IMA Financial Group this week announced it was opening a metaverse insurance and risk management research and development facility.
Based in Decentraland, the company is setting up its IMA Web3Labs to explore market risk and insurance strategies specific to the metaverse.
The insurance broker is looking to assess what products and risk management services it can offer to clients who are investing in blockchain technology.
Read more HERE.
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