New research suggests that during the height of COVID-19, the number of people searching for a furry friend to keep them company hit new highs – not only physically but also in the Metaverse. The question is, are tokenized pets here to stay, or are they a pandemic fad? The Metaverse is widely regarded as the next iteration of the internet as a virtual world or web 3.0, facilitated by virtual and augmented reality. There are a number of ways to purchase or adopt a pet in the Metaverse, and they each have varying utilities. In the virtual open-world platform …

Solana-based augmented reality and NFT platform Dropp GG is developing geographical-based NFT minting and “mixed reality events” tied to the Metaverse. The firm was founded in early 2021 and is progressively rolling out several initiatives over this year including partnered NFT drops, geo-minting events, virtual land plots with AR support, and a metaverse platform that maps to the physical world. Dropp recently closed an $8 million funding round that was backed by top crypto and NFT firms such as Animoca Brands, Alameda Research DeFiance Capital and Three Arrows Capital. The funding will go towards IP accumulation, partnerships and metaverse/AR tech …

This week’s Crypto Biz explores Microsoft’s Activision purchase, the new partnership between Coinbase and Mastercard and the latest funding news from the world of crypto. For a comprehensive breakdown of business developments over the last week, register for the full newsletter below. Microsoft enters the metaverse with Activision purchase It’s no secret that Microsoft has been eyeing its entry into the metaverse ever since Zuckerberg rebranded Facebook to Meta. The company found its perfect entry this week by acquiring gaming giant Activision Blizzard for $68.7 billion. Satya Nadella, who has served as Microsoft’s CEO since 2014, described video games as …

Multinational tech conglomerate Meta is reportedly diving into nonfungible tokens (NFTs) by integrating a feature that will let users show off their NFTs on their Facebook and Instagram profiles. According to the report, Meta is currently working on prototypes that will allow users to mint collectible tokens. Meta is also discussing potentially launching a marketplace that allows the buying and selling of NFTs. However, while the news may excite millions of NFT enthusiasts that use social media, all of the projects are within the earliest stages and may still change accordingly. The discussions follow a push to onboard more staff …

Nonfungible tokens have proven to be successful across a number of industries. From gaming to high-end luxury fashion, NFT use cases have demonstrated the importance of creating lasting connections between a company or a brand and its users/customers. As such, it shouldn’t come as a surprise that the billion-dollar event-ticketing industry is on its way to being disrupted by nonfungible tokens. Specifically, the online event-ticketing sector — which is expected to reach $60 billion by 2026 — will likely see an increase in NFT ticket platforms and marketplaces that issue virtual tickets across a blockchain network. Colby Mort, head of …

Ak Party, Turkey’s governing party, held its first metaverse meeting on Monday wherein it discussed upcoming crypto regulation. The Grand National Assembly of Turkey (TBMM) hosted its first meeting in the metaverse, Cointelegraph Turkey reported. Attending the virtual meeting were TBMM group deputy chairmen Mahir Ünal and Mustafa Elitaş along with Ömer İleri, the vice president of Ak Party responsible for information and communication technologies. Physically, Elitaş attended the meeting from the parliament building while Ünal and İleri were at the Ak Party (AKP) headquarters. Crypto regulation was the highlight of the meeting, Ünal told state-run news agency AA, adding …

Cryptocurrency and video games quickly collide into an entirely new world of “play-to-earn” games as a part of a larger Web3 movement. The result is that a whole new generation of gaming experiences are being developed, one in which players are being incentivized to continue spending time in the gaming ecosystem. The result is that this trend has already overtaken traditional business models in the gaming industry. With the DeFi gaming market showing no signs of slowing down, many are looking for opportunities to join in, effectively taking part in this new movement. The decision then becomes which game holds …

Microsoft Crop. is acquiring gaming giant Activision Blizzard Inc. for $69 billion as part of a move to ramp up its gaming and Metaverse plans. Activision Blizzard is home to a long list of iconic gaming franchises such as Call of Duty, Overwatch, Candy Crush, World of Warcraft and Tony Hawk’s Pro-Skater. Following the deal, its games are set to be added to Microsoft Xbox’s Game Pass service that has 25 million subscribers. According to a Jan. 18 announcement from Microsoft, the firm will acquire Activision Blizzard for $95.00 per share at a valuation of $68.7 billion. The deal is …

Cardano (ADA) traded within striking distance of its three-week high this at the start of this week, leading some investors to suggest that a trend reversal was in order. In reality, the bullish momentum is primarily connected to anticipation of the upcoming decentralized exchange (DEX) called SundaeSwap. ADA price rose by nearly 12% on Jan.17 to reach an intraday high of $1.60, a day after SundaeSwap announced the launch of its "fully-functional beta decentralized exchange (DEX)." Nonetheless, the upside swing also came as a part of a wider rebound trend wherein ADA jumped by almost 50% in just seven days. …

Nonfungible token (NFT) marketplace Metaplex has concluded a $46 million investment round to support its strategic pivot into metaverse applications — offering further evidence that existing blockchain networks were looking to capitalize on advances in Web3 technology. The investment round was co-led by venture firms Multicoin Capital and Jump Crypto, with additional participation from Solana Ventures, Alameda Research and Animoca Brands. Over 90 individual investors also participated in the raise, including NBA legends Michael Jordan and Allen Iverson. The funding round will allow the Metaplex Foundation, which oversees the development of the Metaplex protocol, to expand its support for metaverse …

Hong Kong-based software and venture firm Animoca Brands has secured $358.8 million in capital investments to fuel new acquisitions in the nonfungible token (NFT), gaming and metaverse sectors, further cementing crypto’s biggest trends in 2022. The funding round was led by Liberty City Ventures and had participation from some of blockchain’s biggest venture funds, including 10T Holdings, Gemini Frontier Fund, ParaFi Capital, Provident, Sequoia China, and Winklevoss Capital, among several others. Animoca said the capital injection will go towards financing strategic acquisitions and investments, product development, and license acquisition for intellectual properties. The company said its vision is to create …

Tennis Australia has partnered with Decentraland to host the Australian Open (AO), which will be the first official tennis grand slam in the Metaverse. A virtual recreation of key areas in Melbourne Park, including the Rod Laver Arena and Grand Slam Park, will be open for the duration of the Australian Open tournament, which will run for a fortnight beginning on Jan. 17. The event will include exclusive content for virtual visitors, including behind-the-scenes footage from over 300 cameras around Melbourne Park, including the exclusive player arrivals area and the practice village. As well as broadcasting live footage and AO …