Weekly Wrap: What's Happening in the Metaverse This Week? [Jan. 19, 2022] | CoinMarketCap

CoinMarketCap takes a look at some of the latest happenings in the metaverse — from possibly shopping on Walmart in the metaverse, to the first tennis grand slam on Decentraland.

Metaverse

1/20/2022 7:13:00 PM

Alexandria by CoinMarketCap (CMCAlexandria) takes a look at some of the latest happenings in the metaverse — from possibly shopping at Walmart in the metaverse, to the first tennis grand slam — the AOmetaverse, on decentraland.

CoinMarketCap takes a look at some of the latest happenings in the metaverse — from possibly shopping on Walmart in the metaverse, to the first tennis grand slam on Decentraland.

talked about “financial services, namely, providing a virtual currency for use by members of an online community” for the “exchange” and “issuance” of a “virtual currency in the field of non-fungible tokens (NFTs).”"Walmart is continuously exploring how emerging technologies may shape future shopping experiences. We don't have anything further to share today, but it's worth noting we routinely file trademark applications as part of the innovation process."

Activision Blizzard has rolled out a long list of iconic gaming franchises, including Call of Duty, Candy Crush, Overwatch, Tony Hawk’s Pro-Skater and World of Warcraft. Following the acquisition, these games will be added to Microsoft Xbox’s Game Pass service, which has more than 25 million subscribers.

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by CoinMarketCap’s Connor Sephton, it was created by Mutual Mobile to wow attendees at the South by Southwest Festival back in 2017. Another patent application talked about “financial services, namely, providing a virtual currency for use by members of an online community” for the “exchange” and “issuance” of a “virtual currency in the field of non-fungible tokens (NFTs).” Putting meaning to this, it suggests that Walmart might be looking to build a platform that would allow them to mint their own digital collectibles, as well as facilitate NFT trades through an integrated wallet. For clarity, a trademark application is not a guarantee that Walmart will eventually enter into the metaverse or launch NFTs. Nevertheless, it does provide some insight into the company’s trajectory and future plans. While remaining tight-lipped in a statement, a spokesperson for the company reportedly said: "Walmart is continuously exploring how emerging technologies may shape future shopping experiences. We don't have anything further to share today, but it's worth noting we routinely file trademark applications as part of the innovation process." Microsoft Acquires Activision for $69B in Massive Metaverse Move Microsoft has shown that it is not in the metaverse race to play. The multinational tech company is set to acquire gaming giant Activision Blizzard Inc. for a whopping $69 billion, as part of its efforts to ramp up its metaverse and gaming plans. Microsoft CEO and chairman Satya Nadella noted that gaming “will play a key role in the development of metaverse platforms.” Activision Blizzard has rolled out a long list of iconic gaming franchises, including Call of Duty, Candy Crush, Overwatch, Tony Hawk’s Pro-Skater and World of Warcraft. Following the acquisition, these games will be added to Microsoft Xbox’s Game Pass service, which has more than 25 million subscribers. According to a Tuesday announcement from Microsoft, Activision is being bought at $95 per share at a valuation of $68.7 billion. The deal is set to close in the 2023 fiscal year. However, it has been approved by the board of directors of both companies. The deal will position Microsoft as the third-largest gaming company in terms of revenue behind Tencent and Sony. Microsoft explained that the acquisition will support its growth across multiple platforms, such as mobile, PC, console and cloud gaming while providing the “building blocks for the Metaverse.” “Gaming is the most dynamic and exciting category in entertainment across all platforms today and will play a key role in the development of metaverse platforms.” As per the announcement, Activision Blizzard CEO Bobby Kotick will retain his position until the deal closes, upon which the reins will be handed over to Phil Spencer, CEO, Microsoft Gaming. Spencer expressed his excitement over the deal in an Xbox blog post . He said that Microsoft was working to make cloud gaming accessible. He was, however, careful not to mention the metaverse or NFTs. “The fantastic franchises across Activision Blizzard will also accelerate our plans for Cloud Gaming, allowing more people in more places around the world to participate in the Xbox community using phones, tablets, laptops and other devices you already own.” Metarex Is Gunning for a ‘Jurassic Park’ Themed Metaverse, CEO Says While dinosaurs may be mere fragments of the planet's past, scientists claim that these animals emerged between 240 million and 230 million years ago. If there is one thing the metaverse can be used for, it is to recreate living in a Jurassic Park kind of world. Interestingly, there is already a project exploring this option. Metarex touts itself as the first collection of NFTs representing real tokenized T-REX bones. Speaking to online news media Nairametrics , the CEO of the company Jeff Jaffrey explained how he got caught up in the whole NFT frenzy. According to him, a dinosaur enthusiast and private collector of dinosaur fossils for about 15 years contacted him after he saw Christie’s auction of the first T rex fossil ever for $32 million in October 2020. They saw a huge gap between billionaires who pay high amounts for these items and academic institutions who need them for research. “As the first steppingstone, we are taking one of the oldest assets in the world, marrying it with the latest technology of today, blockchain technology. We are bringing the first apex predator onto the blockchain.” Commenting on the uniqueness of his project, Jaffrey said: “Our NFTs aren’t just images. We have got a certain number of bones that we are acquiring as part of the fossil and we have taken each bone and turned it into a 3D image that rotates. It is also linked through a certificate of authenticity. In terms of utility, for example, when the fossil is in the museum, there will be a QR code next to the fossil. When you scan that QR code, your phone will automatically show you what part of the fossil your NFT is tied to.” In the future, token holders will be able to receive a 3D printed version of their bones, as well as enter an online learning metaverse about T rex. Members of the ecosystem will also be able to vote on proposals that should receive funding from the foundation. The initial NFT launch has been scheduled for Jan. 24, 2021. “We are changing it slightly because we are announcing some partnerships with some DAO’s and museums over the next week or so. We are now doing our initial launch on the 24th of January and it is going to be approximately 40,000 NFTs up for grabs.” This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap. I'm a firm supporter of blockchain technology. Related Articles