COMING to you every Sunday, 24/7 Crypto will help you keep track of every important news story that happened this week in the metaverse.
ApeCoin has fallen 65% in value over the past 30 days
ApeCoin (APE) set a new all-time low of $3.10 this week and has lost more value than other metaverse gaming tokens during the ongoing crypto market crash.
Over the past 30 days, the token has lost 65 per cent of its value.
If you compare that to other metaverse tokens, SAND has dropped 42 per cent while Decentraland’s MANA token has fallen by 39 per cent.
The Bored Ape Yacht Club NFTs have also shed a huge amount of value.
The floor price (price for the cheapest available NFT on the secondary market) of a Bored Ape is down more than 54 per cent over the past 30 days to $91,781 (76 ETH).
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Metaverse could be worth $5 trillion by 2030
Spending in the metaverse could reach $5 trillion by 2030, according to a new report from McKinsey & Company.
The 77-page report titled “Value Creation in the Metaverse” looked at current adoption trends and took insight from two global surveys: one gathered data from 3,104 consumers across 11 countries and the other polled a range of executives from 448 companies across 15 industries in 10 countries.
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Yahoo is launching metaverse events
Yahoo announced several metaverse and NFT events in Hong Kong a day after Meta – formerly FB – announced its own metaverse plans for the region.
Yahoo will host a series of virtual events and concerts for Hong Kong residents in Decentraland.
Lorraine Cheung, head of audience for Yahoo Hong Kong, said the company sees the metaverse as an alternative for Hong Kong residents looking to socialise while Covid-19 restrictions remain in force.
On June 9, Hong Kong introduced regulation that a negative COVID-19 test must be provided to enter all public venues such as bars and restaurants.
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People will spend their free time developing their own narratives in the metaverse
Chris Laurent, the founder of the popular-digital horse racing game ZED RUN, sees a future where people will spend their free time developing their own narratives within the metaverse.
The virtual world will contain a mix of gaming, entertainment and social experiences underneath an overarching storyline.
He said: “My perception of the metaverse isn’t just a meeting of people, it’s coming home after work and not turning on Netflix but seeing what happens to yourself and your friends in some type of storyline that is flexible.”
Arizona State University planning classes in the metaverse
One of the largest public universities in the US by enrollment could be planning to launch virtual classes in the metaverse.
According to records submitted to the United States Patent and Trademark Office Arizona State University filed seven trademark applications for variations of its name — ASU, Arizona State, Arizona State University — as well as its football team, the Sun Devils, to be used in a virtual environment.
