Category: Metaverse

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Crypto News Metaverse NFTs

Monster Energy Files Metaverse and NFT Trademark Applications

According to the US Patent and Trademark Office (USPTO), the beverage manufacturer Monster Energy has filed a total of four applications to date, including for a variety of metaverse and NFT-related trademarks.

Although this is not the first time Monster has entered the crypto space, it does mark its debut appearance in the metaverse and NFT space. In a similar vein, the New York Stock Exchange (NYSE) last week filed applications with the USPTO and is hinting at an NFT marketplace. Fast-food behemoth McDonald’s has also set out plans for a virtual restaurant within the metaverse after submitting 10 trademark applications to build a “virtual restaurant featuring actual and virtual goods”.

Monster Goes Big on Food, Beverage and Apparel NFTs

According to a tweet from Mike Kondoudis, a USPTO licensed attorney, Monster Energy has filed applications relating to “NFTs, downloadable virtual food, drink and clothing, stores featuring NFTs and virtual assets, and a marketplace for virtual goods and NFTs”.

The first trademark application relates to downloadable virtual goods comprising, but not limited to, beverages, food, supplements, sports, gaming, music and apparel. According to this filing, these goods will be “authenticated by NFTs”. The application extends to computer programs facilitating blockchain data interactions.

Monster Marketplace Also in the Works

The second filing includes retail and online stores services authenticated by NFTs, as well as an “online marketplace for buyers and sellers of virtual goods”. The third application details entertainment services related to virtual apparel. Finally, the fourth application consists of providing online software to facilitate the transmission of digital assets between users powered by blockchain.

If Monster’s applications were to be approved, it would mark its second foray into the crypto space, after partnering with SmartFi last month. Under the terms of the agreement, SmartFi would become the official cryptocurrency platform for the Monster Energy AMA Supercross – a popular American motorcycle racing series.

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Crypto News Metaverse NFTs Sports

Puma Enters Web3: Renamed Puma.eth on Twitter and Partners with Cat-Themed NFTs

Having bought a decentralised .eth URL from the Ethereum Name Service (ENS), Puma has duly followed rival sports brands Nike and Adidas into the metaverse. As a full signal of intent, it has even renamed itself puma.eth on Twitter.

Puma’s new Twitter profile

Puma Partners With Gutter Cat Gang … More to Come?

Fuelling rumours of associated partnerships, Puma has also purchased a catalogue of cat-related NFTs, which include Cool Cat #32 (bought for 14 ETH, roughly US$36,000 at the time of writing); a Gutter Cat worth about US$20,000; a pair of pudgy pussies from the CatBlox Genesis collection, and a Lazy Lion.

As for the German multinational’s move into the metaverse, the company is looking to hire a “Digital Culture Manager” and an associate creative director, both positions listing knowledge of the metaverse as a prerequisite. As the ad on Puma’s website specifies, candidates are required to have an “understanding of web3 including NFTs, gaming, metaverse, cryptocurrencies, and DAOs”.

Puma Debuts at #13 on the .ETH Leaderboard

At the time of writing, Puma ranks 13th on the .eth Leaderboard, which lists the most followed Twitter accounts with .eth names. Leading the pack are parishilton.eth and shaq.eth, owned by socialite heiress Paris Hilton and former NBA star Shaquille O’Neal, respectively.

Besides Puma, another major corporation sporting an .eth domain is beer brand Budweiser, which bought the Beer.eth domain name for 30 ETH (around US$100,000 at the time) in August last year.

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Metaverse Sports

Man City Football Club to Build Etihad Stadium in the Metaverse

English Premier League champions Manchester City has partnered with Sony to bring its home ground, Etihad Stadium, to the metaverse. The project has begun construction and will allow the football club to offer new digital experiences to fans through the “cutting-edge” virtual venture.

Etihad Stadium, home to Man City FC since 2003, has begun its virtual recreation. The replica will be the team’s central hub and the first football stadium to move into the metaverse.

To complete the project, Man City has signed a three-year contract with Sony Group Corporation. Image analysis and skeletal tracking technology will assist specialists in the stadium’s construction. The first-of-its-kind venture will remove geographic barriers for fans outside England who wish to fully experience a live-recorded match.

Metaverse Stadium to Show Action From All Angles 

The goal of the metaverse stadium is to allow fans to watch games live and to see all the action from multiple perspectives. The project seeks to demonstrate the club’s commitment to the sports entertainment business.  

Following in the Footsteps of United

The Manchester football scene has been diving headfirst into the world of crypto and the metaverse, with City’s crosstown rivals Manchester United making some big moves this year. Man U announced a US$27 million partnership with Tezos earlier this month, allowing the blockchain company centre placement on the team’s training kit.

A group of former United legends has also come together to launch a sports-focused DAO. Paul Scholes, Ryan Giggs and Gary Neville are working to allow fans to invest in professional football via their decentralised autonomous organisation (DAO). The project will honour the Red Devils’ class of ’92.

By Lauren Claxton, Crypto News Guest Author

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Crypto News Metaverse NFTs

‘Webbland’ Metaverse Sales Soar 126% Amid Flurry of Apartment Sales

Webbland, an “interoperable pixel metaverse”, has seen its NFT sales soar by 126 percent this week after two pixelated penthouses sold for six-figure sums – taking out two places in this week’s top 15 NFT sales:

Webbland Records $3.6m Profit in a Week

Over the past seven days, Webbland has recorded over US$3.6 million in profit thanks to the heavily piqued interest of users.

Penthouse #9051 edged into 14th position on the top 15 NFT sales list for the week, with the apartment selling for 50 ETH – approximately US$139,848 at the time of purchase. Penthouse #9056 took 15th place, going for 48 ETH (US$131,830).

Penthouse #9056 sold for 48 ETH. Source: Opensea

It appears unlikely that metaverse sales, both within Webbland and among the wider industry, will let up. Much of the chatter on social networks surrounding the Webbland sales was about finding humour in the situation. Currently, Webbland’s floor price is 3 ETH:

Big Names Moving into the Metaverse

The metaverse is rapidly growing in popularity with several big corporate names getting involved. Warner Brothers entered a partnership with The Sandbox at the end of January 2022, with a goal to develop the first music-themed metaverse. The project is set to host several popular artists, including Coldplay and Madonna.

It also appears that Walmart is making quiet moves to cash in on the metaverse hype. The American multinational retail corporation has been spotted placing new trademark applications that appear to indicate metaverse-related plans.

By Lauren Claxton, Crypto News Guest Author

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Crypto News Metaverse NFTs

Snoop Dogg Set to Make ‘Death Row Records’ the First NFT Music Label

American rapper Snoop Dogg recently acquired Death Row Records – the most famous hip-hop record label in history – and is planning to turn it into a world-first NFT (non-fungible token) music label.

Snoop Dogg announced his decision of taking Death Row into the metaverse on an audio recording on social media channel Clubhouse, saying:

Death Row will be an NFT label, we will be putting out artists through the metaverse and a whole ‘nother chain of music. Just like we broke the industry when we was the first independent [label] to be major, I want to be the first major in the metaverse.

Snoop Dogg (Clubhouse)

The rapper acquired Death Row Records on February 10, shortly before performing at the Super Bowl Halftime Show, which saw the participation of his peers in the hip-hop scene including Eminem, Dr Dre and Kendrick Lamar.

Snoop Dogg Making Waves With NFTs

Dogg has been one of the most active crypto advocates on social media. On September 20, the rapper revealed he’s behind the Twitter handle Cozomo De’ Medici, who owns a US$17 million NFT collection:

Late last year, Dogg dropped his own NFT collection, Decentral Eyes Dogg, which comprises a composite portrait of the US rapper with distinct facial traits:

The purple area is a nod to his hiphop royalty. The halftone and grunge effect on his left eye speaks to his being an OG in the game, and the Doggystyle references are a nod to his epic first release. Snoop recorded new audio exclusively for this artwork to add that swagger and put the signature Snoop touch on top.

Snoop Dogg
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Crypto News Metaverse

JPMorgan Dives into the Metaverse with its Decentraland Metaverse Lounge

American investment bank JPMorgan has entered the metaverse with a virtual Decentraland Lounge, citing “immense economic opportunities”.

First Investment Bank to Enter the Metaverse

The bank announced on February 15 that it will be opening a lounge at a mall in Decentraland. As per the report, the metaverse has a US$1 trillion market opportunity in yearly revenue, and has the capacity to “expand access to the marketplace for consumers from emerging and frontier economies”.

Supply and demand dynamics are driving more people into the meta-economy. In turn, this will require the development of new skills and will also generate new way[s] of making money. After all, people will have to develop and build the products that are consumed in the virtual world – establishing huge opportunities for the creator economy.

JPMorgan announcement

The move makes JPMorgan the first bank to enter the metaverse – a virtual reality world where users can interact with each other socially and economically. The irony is that JPMorgan and CEO Jamie Dimon have long been detractors of Bitcoin and the crypto market:

The Metaverse is the Next Big Investment Theme

JPMorgan was motivated by the large inflow of different companies entering the metaverse. Last week, Crypto News Australia reported that fast food giant McDonald’s is planning to enter the metaverse to build a “virtual restaurant featuring actual and virtual goods”.

We see companies of all shapes and sizes entering the metaverse in different ways, including household names like Walmart, Nike, Gap, Verizon, Hulu, PWC, Adidas, Atari and others.

JPMorgan announcement

The metaverse has been growing in popularity in the past few months as more companies, especially tech giants such as Meta (formerly Facebook) and Microsoft, are deciding to explore its foundational technology to expand their business opportunities.

Edward Stanley, an equity strategist at Morgan Stanley, noted in November that the metaverse has “big investment opportunities” for all kinds of businesses, including gaming, fashion, real estate, fast food chains, etc.

Newsflow around the metaverse concept has been high and companies are embracing it in growing numbers. Of any major theme, companies and analysts have greater interest in the metaverse than any other theme at present.

Edward Stanley, equity strategist, Morgan Stanley
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Fashion Metaverse NFTs The Sandbox Tokens

Gucci Moves into Sandbox Metaverse to ‘Host Immersive Experiences’

Gucci has announced plans to expand into The Sandbox metaverse. The luxury brand has bought an undisclosed quantity of lands within the virtual world in a project labelled Gucci Vault, and is seeking to appeal to Generation Z with the move.

Step Inside the Gucci Vault

The announcement accompanies a February 10 Twitter post introducing the Gucci Vault, which Gucci describes as an experimental space and is the brainchild of the company’s creative director, Alessandro Michele. Fans have already responded positively to Gucci’s corporate metaverse involvement:

In a blatant pitch to Gen Z, The Sandbox has stated that Gucci’s new endeavour is “inspired by childhood memories” and hopes to stimulate the conversation surrounding the metaverse and the designer fashion industry’s future. The company’s plans to enter the metaverse follow its mid-2021 release of a non-fungible token (NFT) collection.

The Gucci Vault Instagram account is up and running and while its posts remain cryptic, it is said that the project will also be a means for Gucci to sell vintage pieces alongside those from other notable designers. If you’d like to learn more about the Gucci Vault, the official Discord channel is now live.

Sandbox Moves from Strength to Strength

Gucci is not The Sandbox’s first partnership. The Ethereum-based game announced a collaboration last month with Warner Bros to launch the first music-themed metaverse. Purchasing lands within the game will allow the company to develop a musical theme park and concert venue.

https://www.sandbox.game/en/about/land/
The Sandbox lands description. Source: The Sandbox

The Sandbox token (SAND) skyrocketed at the end of 2021 as Facebook’s announcement of its rebranding to Meta had a butterfly effect on the industry. While the price of SAND is currently sitting at around A$6.25, further brand involvement could see it continue to rise.

By Lauren Claxton, Crypto News Guest Author

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Crypto News Metaverse NFTs Social media

YouTube Confirms Move into Web3, Says It Has ‘Incredible Potential’

YouTube has confirmed it’s stepping into Web3, flagging its “incredible potential” for content creators through the use of blockchain technology and NFTs (non-fungible tokens).

In a February 10 blog post, YouTube’s chief product officer, Neal Mohan, shared some of the company’s upcoming plans for products and services in 2022, including Web3 technology.

Mohan said that YouTube was working on strategies to integrate some of these technologies. Some of Mohan’s suggestions regarding blockchain and NFTs include giving users the ability to own unique videos, photos, art and more from their favourite content creators. This also allows creators to better engage with their audience and access new ways of making money.

A Careful Approach to Web3

The approach, according to Mohan, is being taken in a “responsible manner”, as many companies have faced harsh backlash due to the environmental impact of using blockchain-based technologies such as Ethereum and its Proof of Work (PoW) consensus, which consumes an enormous amount of processing power.

There’s a lot to consider in making sure we approach these new technologies responsibly, but we think there’s incredible potential as well.

Neal Mohan, chief product officer, YouTube

The other aspect is that the NFT sphere is full of scammers and other malicious actors, and YouTube has been vulnerable to hacking attacks before. Two weeks ago, Crypto News Australia reported how more than 30 crypto YouTube Channels had been hacked in a coordinated attack.

Will There Be NFTs on YouTube Anytime Soon?

While Mohan didn’t disclose if YouTube would integrate NFTs, the integration of Web3 features opens up many possibilities. For example, we might see an NFT minting feature on the platform, or one that allows NFT holders exclusive access to a creator’s content.

NFTs can help creators find new ways to make more money, and YouTube can take a cut out of that in transaction fees.

This isn’t the first time YouTube has flagged its intentions of integrating Web3 technologies. Just last month, CEO Susan Wojcicki hinted at a possible NFT integration.

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Axie Infinity Crypto News Gaming Metaverse Tokens

Metaverse Token SLP Up 300% in a Week Amid Big Changes to Axie Infinity

Just before the dawn of the release of Season 20 for the world’s most popular play-to-earn blockchain game, Axie Infinity, the in-game reward token Smooth Love Potion (SLP) shot sky-high. Before a slight pullback, the SLP token went 3X in just days.

SLP Price Chart. Source: CoinGecko.com

The SLP rally follows the announcement of a deflationary update to the game’s economy, removing user rewards for completing certain in-game missions, including Adventure Mode SLP and Daily Quest SLP, which “will be sunset (reduced to 0)”.

Season 20 is close and when it’s released, a variety of important economic balancing changes will be implemented.

axie.substack.com

How Axie Rewards Work

Once players have collected a team of Axies, they can collect SLP tokens by completing battles. Those tokens can be redeemed for new in-game features, including breeding new Axies. 

Among the changes coming in the new Season 20 update will be a 56 percent reduction in the daily supply of SLP tokens. Players will no longer be able to earn SLP from daily questing or playing in adventure mode, thus increasing the tokens’ scarcity. 

SLP Listed on Binance

Earlier this week, Binance added SLP/BNB as a trading pair, allowing traders to directly exchange BNB for SLP on the exchange. Whenever tokens get a listing on a major exchange such as Binance, it often results in a price pump as it makes the token more accessible for new investors.

While Axie Infinity’s SLP has enjoyed notable price pumps over the past few months, is still 9x away from previous highs. The SLP token was trading at US$0.39 only seven months ago. The game continues to adopt more players and attract recognition from investors. In November, Crypto News Australia reported that an Axie Infinity land plot NFT had sold for a record-breaking US$2.48 million.

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Crypto News Metaverse NFTs

McDonald’s Plans Move into the Metaverse with a Virtual Restaurant

Global fast food behemoth McDonald’s could be the next major company to enter the metaverse, having flagged the move with 10 new trademark applications to build a “virtual restaurant featuring actual and virtual goods”.

The Chicago-headquartered conglomerate filed the applications with the US Patent and Trademark Office on February 4, according to a tweet from prominent US trademarks lawyer Josh Gerben:

According to the filings, McDonald’s has applied for trademarks for its own virtual food and beverages, as well as “downloadable multimedia files containing artwork, text, audio and video files and non-fungible tokens [NFTs]”. It’s also applied to register its intellectual property covering “entertainment services”, specifically real-world and virtual concerts and events, though the primary filing is for “operating a virtual restaurant online featuring home delivery”.

McDonald’s Sees In Chinese New Year … in the Metaverse

The chain has over recent months shown interest in the crypto space with its own branded NFTs, including an exhibit last week honouring the Chinese Lunar New Year. As long ago as April 2021, McDonald’s France announced its intention to issue a limited series of digital artworks as NFTs.

McDonald’s celebrates Lunar New Year in the metaverse. Source: criptopato.com.br

Just last month, McDonald’s frivolously promoted a joke coin based on its fluffy purple McDonaldland character, Grimace. In a January 26 tweet replying to Elon Musk, the company proposed that if Tesla were to accept payments in Grimacecoin, then it would take Musk up on his offer to eat a Happy Meal on TV if McDonald’s accepted Dogecoin.

Not long after, several Grimacecoin-themed tokens were created across a handful of different blockchains by crypto opportunists wanting to cash in on the buying frenzy that followed.

Metaverse Market Could Be Worth $8 Trillion

McDonald’s isn’t the first multinational to show clear interest in the metaverse, with the likes of Adidas, Meta, Nike, Coca-Cola and Visa also climbing aboard the bandwagon in recent months.

After Facebook rebranded itself to Meta last November, Morgan Stanley analysts predicted that the metaverse market could ultimately be worth as much as US$8 trillion but also warned about high barriers to adoption.