Meta Platforms, the parent company of Facebook, saw the largest single-day slide in market value for a U.S. company ever with a 26% fall in share prices on Thursday after the tech giant revealed disappointing earnings and a decline in daily active users. Meta famously changed its name from Facebook in late 2021, to signal its plans to focus on the Metaverse, and its struggles have coincided with double-digit percentage gains for its decentralized competitors The Sandbox and Decentraland. Meta reported $33.67 billion worth of total revenue for Q4 2021, compared to $28 billion the year prior. However, its net …

After releasing its latest financial results report, Nintendo held a live Q&A where they reportedly expressed "interest" and "potential" in the Metaverse when it comes to introducing blockchain and NFT technology into their video games. According to the Twitter of David Gibson, Senior Analyst at MST Financial, he asked what the Japanese gaming giant thought about the Metaverse and NFTs, and they confirmed that they are not currently working on anything but are still defining what they could offer gamers. Q) How think about metaverse and NFT? A) We do have interest in this area, we feel the potential in …

Ethereum (ETH) started the nonfungible token (NFT) craze, but it turns out minting and trading NFTs while adopting the concept for larger projects or integrating it into metaverse and other ecosystems might not be feasible given the high gas fees, especially when there are several viable alternatives. OVR, a decentralized augmented reality (AR) project that relies on NFTs, has recently decided to move from Ethereum to Polygon (MATIC) – a layer-2 chain that ensures greater scalability and flexibility. Decentralized AR experience OVR started as an Ethereum-based open-source AR platform that lets users with a mobile device or smart glasses interact …

Google has started researching blockchain and how it may benefit Web 3.0 technology. According to a Tuesday statement from Sundar Pichai, the CEO of Alphabet — Google's parent company — the company is exploring integrating blockchain technologies into its flagship products and services. When asked how the firm views Web3, Pichai said there are several "areas of interest" for Alphabet, hinting at augmented reality and exploring how blockchain technology may be utilized to power computing and service layers like YouTube and Google Maps. He said: "Any time there is innovation, I find it exciting, and I think it is something …

Nonfungible tokens (NFTs), gaming protocols and the dawn of the Metaverse were all trending topics in 2021 and they are shaping up to be even bigger in 2022. NFTs and Metaverse-related projects are also bouncing back quickly from the market-wide downturn and Vulcan Forged (PYR) is one of the top movers this week. The project is a blockchain game studio and NFT marketplace that is in the process of developing out its VulcanVerse ecosystem. Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $6.59 on Jan. 24, the price of PYR has rallied 119% to …

The Crypto Open Patent Alliance (COPA) has welcomed Meta as a member, with the social media giants vowing to make its core crypto patents accessible to all. Meta, formerly Facebook, has joined the COPA, a group that advocates for public patents on crypto and blockchain-related technologies. On Monday, the organization published a statement announcing Meta and noting that Shayne O'Reilly would be its representative. By joining COPA, Meta will become one of 30 other businesses committed to not enforcing their "core cryptocurrency patents." The general manager of COPA, Max Sills, describes "core cryptocurrency patents" as any "technology that allows the …

Yield Guild Games (YGG) has raised $1.45 million to support people affected by December 16's Typhoon Odette in the Philippines, with nearly $1 million already dispersed to people in need. The funding was used to purchase essential goods like medicines, power generators, and canned food, which were turned over to the Philippine Army and Navy and non-profits to distribute among affected communities. There is still about $458,000 worth of crypto and tokens that have been donated to the relief fund but they have yet to be converted to fiat currency for deployment, according to a representative from YGG. Our Transparency …

Tusk Ventures CEO and founder Bradley Tusk says that the failure to regulate cryptocurrency and social media effectively in the United States is a “really good lesson for how we should handle the Metaverse.” In a Feb. 1 interview on CNBC’s “Closing Bell,” Tusk urged U.S. policymakers to “get ahead” of the Metaverse and implement regulations sooner rather than later. “Typically speaking, our policy has been that we wait for technology to be introduced to gain market fit and traction [before introducing regulation].” However, “It’s very hard to do that retrospectively,” he said. “We know the Metaverse is coming — …

Cryptocurrencies had a volatile week after Bitcoin's (BTC) sudden crash to $33,000 on Jan. 24. However, the sharp 9% drop fully recovered within 8 hours after BTC price regained the $36,000 support. On Jan. 26, Bitcoin rallied to $38,960 but it could not sustain the level and corrected by 8.8% in the following 8 hours. When factoring in the recent ups and downs, Bitcoin managed to only gain a meager 1.6% over the past seven days. Even with the considerable price swings, the aggregate futures contracts liquidations were relatively low. Longs (buyers) had $570 million futures terminated, while shorts (sellers) …

As the two-year anniversary of the global COVID-19 pandemic begins to hurtle toward us, we are no closer to knowing when our social lives will return to normal or what will the new normal be. The effect this has had on businesses like nightclubs, music venues and musicians have been immeasurable. With crowded in-person events either made impossible — or far more difficult and laborious — at many points over the last two years, changes to the industry that were already set in motion have been accelerated. Namely, the music industry’s adoption of digital instruments, among others and, increasingly, the …

Meta, the world’s biggest social media platform, has filed a trademark registration with the Brazilian authorities to design, develop and provision hardware and software for various Bitcoin (BTC) and crypto-related services. Meta recently rebranded from Facebook as a move to better align with the Metaverse developments despite regulatory hurdles faced during its numerous previous attempts to enter the crypto space. Accelerating this effort, Meta filed a trademark registration with the Brazilian National Institute of Industrial Property (INPI) for crypto products and services related to trading, wallets and exchanges platforms. Further investigations from Cointelegraph reveal a translated version of the specifications …

Cryptocurrencies and the food industry might not seem like the most intuitive pairing — one based in the digital realm and the other firmly rooted in the physical. But going back to the earliest days of crypto, the very first real-world use case for Bitcoin (BTC) was food-related. On May 22, 2010, Laszlo Hanyecz enacted the first documented commercial BTC transaction, buying two Papa John’s pizzas for the princely sum of 10,000 BTC. That day is now enshrined in the crypto calendar as Bitcoin Pizza Day. By itself, the event has ended up becoming an annual celebration with restaurant chains …