Nike's "Dot Swoosh" platform lands Footwear and apparel giant Nike has unveiled its latest foray into the non-fungible token (NFT) and Metaverse space with the launch of an NFT marketplace named “.Swoosh” While .Swoosh is still in the beta phase, Nike announced that its “first digital collection” is set to launch on the eb3 platform in 2023, with the rest of 2022 devoted to growing the platform and user base. ✅ About .SWOOSH ‍♂️ .SWOOSH is a platform for @Nike's virtual creations, for them to be more accessible and to onboard the next millions into the wonderful world of web3 …

Technology giant Apple appears to be working towards the development of a metaverse-sounding “3D mixed-reality world,” according to related patent filings and recent job postings. Since Nov. 1, over 30 jobs have been listed on Apple’s careers page related to augmented and virtual reality (AR/VR) with the Big Tech player seeking a mix of software and hardware engineers to be mostly based in its Technology Development Group (TDG). TDG is a secretive team within Apple that may reportedly stem as far back as 2017, which is understood to be working on developing AR and VR technology. Apple has never officially …

Web3 is uprooting traditional entertainment industries with a new way of creating and engaging with digital content. The industry has already seen nonfungible tokens (NFTs) display the potential to transform how television scheduled programming can be created. Increased metaverse activity began challenging artists with new possibilities for performances and connectivity with their fans. All the use cases of Web3 technology upgrading the future of digital entertainment include one key component: ownership. Ownership is one of the defining characteristics that distinguishes Web3 activity from its predecessor. According to professionals in the industry it will also be a defining characteristic not only …

Metaverse definitions are widely disputed. So it’s not surprising that most of the world is confused. Is there just one digital world or are there many? Will the metaverse supplement the real world or will it be the physical world supplementing the digital one? Unfortunately, despite so many questions circulating about the metaverse, looking at the current landscape of projects going live will provide few answers. At present, many projects are looking at metaverse hype, in general, as an opportunity to attract users into their online community with short-term incentives like money-making opportunities and flashy digital collectibles. Therefore, despite users …

The Facebook parent company Meta announced that about 13% of its current workforce has been cut in the first mass layoff in the company’s history. In a letter to his employees, Meta CEO Mark Zuckerberg announced the layoffs and also reiterated that the hiring freeze, which began earlier this year, will be extended into the first fiscal quarter of next year. According to the statement published through Meta’s newsroom, the layoffs terminated 11,000 jobs. The initial rumors of layoffs emerged over the weekend on Nov. 6 via Wall Street Journal report from inside sources. Zuckerberg says he takes full responsibility …

The Chinese city of Wuhan had reportedly shelved its aspirational nonfungible tokens (NFTs) plans amid growing regulatory uncertainty around the crypto and Web3 technologies in the country. Wuhan first announced its plans to support metaverse and NFTs in the aftermath of the coronavirus breakout as a measure to boost its economy ruined by the pandemic. The city was the epicenter of the COVID-19 breakout. The Wuhan government’s draft industrial plan for the city’s metaverse economy development included a line about NFTs. However, that part has now been omitted from the latest version, according to a report by South China Morning …

Social media and tech giant Meta is reportedly gearing up for “large-scale layoffs” this week amid rising costs and a recent collapse of its share price. According to Wall Street Journal (WSJ) report on Nov. 6 citing people familiar with the matter, the planned layoffs could impact thousands of employees in a broad range of divisions across Meta’s 87,000-strong workforce. It is not currently understood whether the firm's Reality Labs division, which registered a $3.7 billion loss in the third quarter, would see staff cuts. Last week, Meta CEO Mark Zuckerberg said that the company would be focusing its investment …

The GameFi industry is set to unleash its massive potential within the next six years. According to Absolute Reports data, its estimated value will grow to $2.8 billion by 2028, with a compound annual growth rate of 20.4% in the same period.It’s a quieter perhaps less scandalous branch compared to the more newsworthy centralized finance (CeFi) and decentralized finance (DeFi) spaces, but this hasn’t impacted its force nor its promise. Even in the depth of crypto winter — read: a bear crypto market — blockchain-based games have continued to register a steady uptick in daily active users and transactions month …

The blockchain technology developer Elrond announced it will redefine itself as a new brand with a focus on the metaverse. Formerly known as Elrond, the company will move forward under the new name MultiversX with the introduction of three new metaverse-forward products. xFabric, xPortal and xWorlds are the three new tools behind the rebrand, all of which aim to help metaverse creators and users. The tools include a metaverse portal, digital assets holder, creator utilities and a deployable blockchain module. Beniamin Mincu, the CEO of Elrond, commented to Cointelegraph saying that the new rebanding will benefit both digital and physical …

Welcome back to day three of the Web Summit, one of the world’s leading tech conferences, with over 71,000 attendees on the third day. Stationed in Lisbon, Portugal, Cointelegraph's ground team is ready to bring the most exclusive insights on Web3, crypto and blockchain from the event. The first two days of the summit saw some of the leading Web3 founders share their views on the future of finance, metaverse and gaming. WAX CEO William Quigley told Cointelegraph that traditional firms likely won’t be leading the charge in the next generation of Web3 games. Sandbox co-founder said that the future …

The building of the metaverse is an ongoing process. Sebastien Borget, the co-founder of The Sandbox metaverse, even called the future of the metaverse evolving. Speaking to Cointelegraph's Gareth Jenkinson at the Web Summit tech conference in Portugal on Nov. 3, Borget said that what we see today in the Sandbox is “the natural evolution of things” after almost a decade of work. The evolution of the metaverse, particularly the way brands engage with users, has accelerated at rapid speed. It’s this fast-paced development that has investors pouring billions of dollars into metaverse projects across the space. “We're now seeing …

National Basketball League (NBA) megastar Steph Curry looks set to introduce his own version of the Metaverse to NBA’s 650 million fans — filing a “Curryverse” trademark application on Oct. 26. If approved, the United States-based trademark application, filed by SC30 Inc. will grant the four-time NBA champion exclusive rights for “entertainment services, namely, personal and virtual and metaversal appearances.” According to the filing, the “Curryverse” will also provide “online gaming services in the nature of virtual worlds,” where players will be able to earn both fungible and nonfungible tokens (NFTs), which will be able to be bought or sold …