Here at TerraZero, it’s part of our job to keep up with the latest news, trends, and updates for all things metaverse – from NFTs to what the fashion industry is doing in the virtual world. So, since we’re already watching all the biggest stories, we thought we’d put together a quick roundup of this week’s metaverse stories. Here’s what’s going on in the Web3 world right now.
Decentraland’s top destination right now? Casinos!
Brands like Nike and Gucci are building out virtual retail spaces – and TerraZero is developing event venues, metaverse conferences, and virtual real estate. At the same time, according to Bloomberg, about half of the denizens of the metaverse at any given time can be found in one of Decentraland’s casinos. Here, players buy swag and upgrade it with their winnings in poker and other games. And they can then use their poker chips to upgrade the items they bought on the way in, making them more valuable. But why pay for a virtual hat or a pair of sunglasses? Casino merch can be traded for crypto, and metaverse gamblers can spend their winnings on NFTs or other swag to add to their crypto wallets.
Marketers are exploring the metaverse
While a lot of metaverse-goers are playing poker in Decentraland’s casinos, The Wall Street Journal is reporting on the latest marketing Web3 campaigns. Molson Coors’ Miller Lite bar opened in Decentraland and has thus far reported around 600,000 users per month. And, while Paris Fashion Week kicks off in the physical world, we’re looking forward to the first ever Metaverse Fashion Week, hosted in Decentraland this month.
Zuck says the metaverse needs better cell networks
The news isn’t entirely sunshine and rainbows, though. With the move to change Facebook to Meta, it’s safe to say that Mark Zuckerberg and his team are committed to the move to the metaverse. But, just last week, Zuck stated that telecom tech needs to make major advancements to make it happen. And Meta VP of Connectivity Dan Rabinovitsj told CNBC, “If you really look at the pace of innovation in the telecom world, compared to other markets, it’s been harder to go faster in this space.” What’s the telecom industry saying? According to CNBC, AT&T’s Executive Vice President David Christopher has cited the accelerated pace of 5G deployment and the current low latency, high capacity, and consistent speeds offered by cell networks.
South Korea is putting $187M into its own metaverse
Finally, according to Blockworks, South Korea is including the metaverse in its “Digital New Deal.” Park Yungyu, head of communication and policy for South Korea’s Ministry of Science and Information and Communications Technology said, “It is important to create a world-class metaverse ecosystem as the starting point to intensively foster a new hyper-connected industry.”
While Zuck and the team at Meta may have fears over connectivity, the rest of the world is moving full-speed-ahead into the metaverse. Stay tuned for the latest news, updates, and insights!