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 plummets 33 per cent in a week despite metaverse land sale

ApeCoin has plummeted by 33 per cent over the past seven days despite the metaverse land sale.

Yuga Labs, the startup behind the Bored Ape Yacht Club, launched the Otherside metaverse land mint last Saturday.

The sale raised $561 million for Yuga Labs and led to fees on Ethereum to skyrocket as buyers rushed to purchase a piece of land.

As speculation around the land sale increased throughout April, so did the price of ApeCoin, mainly because of rumours the NFT launch would be a Dutch auction.

This has become a common minting method in recent months and investors who hoped to purchase Otherdeed NFTs positioned themselves with as much ApeCoin as possible.

In a Dutch auction, the price of an item depends on its demand, with prices potentially soaring as the interest increases.

But late on Thursday, April 28, Yuga Labs announced the mint would cost a flat 305 ApeCoin, reducing the need for investors to hoard tokens.

There was also a limit to the number of NFTs that could be purchased per wallet, starting with two NFTs for the first wave.

That announcement led to a steady drop in the token’s price.

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Qualcomm CEO says the metaverse is ‘going to be a very big opportunity’

Qualcomm CEO Cristiano Amon has said the best is yet to come for metaverse adoption and investment.

“It’s real, it’s going to be a very big opportunity,” Amon said.

“We started investing in fundamental technologies that allow the merger of physical and digital spaces over a decade ago.

“It’s no secret that because of those early investments, for the over 40 virtual reality and augmented reality devices that exist in the world, they are all powered by Qualcomm.”

Spotify becomes first music streaming service to enter the metaverse

Spotify has become the first streaming music service to enter the metaverse, launching a new virtual island on Roblox.

The island allows users to meet their favorite artists, explore quests, collect virtual merchandise and listen to music.

Read more HERE

Decentraland home on sale as part of $9.4million Hollywood property listing

A mansion in Hollywood is up for sale for $9.4million and buyers can also buy the virtual replica.

607 North Arden Drive in Beverly Hills comes with five bedrooms, a one bedroom guest house, and a pool as part of its 14,100-square-foot lot.

To buy the house in the virtual world Decentraland, millionaires will need to pay an extra $100,000.

Read more HERE

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Sony partners with Theta Labs to launch 3D NFTs

Sony has partnered with Theta Labs – the creators of the Theta blockchain – to launch 3D NFTs.

The Japanese electronics giant plans to issued ten “Tiki Guy” NFTs, and the firm is issuing two-dimensional versions as well.

The NFTs are created for the Sony Spatial Reality Display (SRD), a tablet which leverages technologies like augmented reality and 3D enhancements.

Sony said: “Our legacies of cutting-edge visual and spatial realities combine in an incredible 3D optical experience where detailed texture, high contrast, and luminous brightness come together to create a portal to another world.”

SRD plans to incorporate NFTs and metaverse ideas into the device’s offerings and Sony’s VP of business development, Nick Colsey, believes NFTs will help the experience.

Colsey said: “Immersive, three-dimensional NFTs are a great way to showcase the potential of Sony’s Spatial Reality Display for metaverse enthusiasts and collectors.”

Dubai’s virtual assets regulator open HQ in The Sandbox

The Dubai virtual assets regulator, the Virtual Assets Regulatory Authority (VARA), has opened a metaverse headquarters in The Sandbox.

By establishing a presence in the metaverse, the regulator said it hopes to make itself accessible to all stakeholders.

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai, said: “Dubai maintains a leading position at the forefront of technological transformation.

“We have exceeded the role of an early adopter to become an innovator and participant in shaping the future of this technology.

“VARA joins the metaverse to become Dubai’s – and the metaverse’s – first government authority, ushering in a new era in which the Dubai government utilises modern innovations to extend its services and regulatory power to audiences in an open technological expanse, without constraints or borders.”

Read more HERE

Vatican to enter the metaverse with NFT gallery

The Vatican is entering the metaverse in partnership with Sensorium and will develop the first-ever VR and NFT gallery hosting Vatican art.

Manuscripts, masterpieces, and academic initiatives in the Vatican Museum will be available virtually to people across the world.

The Vatican Museum’s collection – founded in the 16th century – consists of nearly 800 artworks by 250 international artists, including Michelangelo, Vincent van Gogh, and Picasso.

It is expected the NFT gallery will be launched at some point this year.

Illuvium releases details of its June virtual land sale

Illuvium’s NFT land sale will happen on June 2 at 9am UTC.

A total of 20,000 NFT land parcels will be up for grabs in a Dutch auction.

The minting will take place on Immutable X, a zero-fee L2 scaling solution on Ethereum.

Holders of the land NFT can earn up to 5 per cent of Illuvium’s total in-game revenue.

To reduce gas fees, the Illuvium NFT land sale will happen in stages.

Every hour, 278 new plots will go on sale for 2 hours.

The price will be reduced by 2.5 per cent every minute until someone buys them.

The entire sale will last 3 days.

There are 5 levels of land with different starting prices.

Level 1 to 4 can be purchased with ETH or sILV2, while level 5 can only be purchased with ETH.

Serie A broadcasts first league match in the metaverse

AC Milan versus Fiorentina became the first football match to be streamed live on the Nemesis metaverse platform.

Metaverse users were able to enjoy the immersive experience inside the Lega Serie A room.

AC Milan’s chief revenue officer Casper Stylsvig said: “We are proud to have been the protagonist of the first official league match broadcast in the metaverse, thanks to the pioneering initiative of the Lega Serie A and the partners involved.”

Shiba Inu’s SHIB token can now be used to purchase virtual land in SHIB: The Metaverse

Holders of Shiba Inu (SHIB) will now be able to use the cryptocurrency to purchase land in the Shiba metaverse.

Read more HERE