It’s no secret that over the last few years, many physical events have now digital iterations or have even been completely digitized into virtual reality. Recently, in Colombia, a local judge decided to bring a court hearing into the metaverse as an experiment with the technology. It was a civil case involving a traffic incident, which will progress further “partially” in the metaverse. While many believe that the metaverse will reshape our social lives, it begs the question if digital reality can best serve important societal moments such as court cases where an individual’s future may be at stake. Cointelegraph …

The future of Web3 gaming The future of Web3 gaming is exciting and promising, as it offers new opportunities for players to truly own their in-game assets and currencies, as well as new revenue streams for developers. Incorporating blockchain into gaming has changed the industry, democratizing it by removing centralized parties and creating new ways of monetization with more social and community-oriented gaming experiences — all of which further enhance the social and entertainment aspects of gaming. However, it is unlikely that Web3 games will completely replace traditional games, as they offer different experiences and target different audiences. However, Web3 …

The original manuscript of Neil Stephenson’s Snow Crash — the book which coined the term “Metaverse,” — will be auctioned by Sotheby’s, according to a page on Sotheby’s official website. The auction is part of a Feb. 23 series called “Infocalypse” that includes six physical and six digital items related to the famous book. The original manuscript is in Lot 2 of the series. It is “wrapped in original Xerox 4200 Paper,” secured with masking tape and contains “corrections and notations throughout in Neal Stephenson's hand in blue ink.” It also has the title of the book written on the …

The concept of virtual worlds and the Metaverse has been growing in popularity over recent years, with the introduction of AI and NFTs offering new opportunities for immersive experiences. However, there are still many challenges that lie ahead for these technologies to be adopted by the masses. According to RFOX VALT co-founder and CEO Ben Fairbank, there is a lot of untapped potential for AI and NFTs in the space. However, the challenges developers face in the journey toward mainstream adoption of the Metaverse and virtual reality are also numerous. RFOX VALT is an up-and-coming virtual reality and Metaverse platform …

Science fiction’s sub-genre, known as cyberpunk, imagines a dystopian future in which advanced technology has overtaken society and divided it into classes for the haves and the have-nots. The genre frequently examines virtual reality, hacking, artificial intelligence and how technology affects people. Cyberpunk is distinguished by its emphasis on a future society in which governments and corporations have amassed enormous power and control over people, frequently at the expense of their freedom and privacy. The genre is renowned for its grim and gloomy depictions of a world where technology has gone beyond human control and produced new kinds of exploitation …

Meta CEO Mark Zuckerberg says the company has no plans to change its long-term strategy for the Metaverse, despite operating losses for its Reality Labs business peaking in 2022. Meta’s Q4 earnings released on Feb. 1 show Reality Labs lost $13.7 billion in 2022 — the largest ever yearly losses recorded for its metaverse-building division. The fourth quarter was particularly costly, with the division losing nearly $4.3 billion, which was also the largest quarterly loss within the department since financials for the business were first published. On a Feb. 1 earnings call, Meta founder and CEO Mark Zuckerberg was steadfast …

The potential behind the metaverse is becoming greater as virtual and physical worlds converge. Market intelligence firm Contrive Datum Insights recently found that the global metaverse market is estimated to surpass $1.3 trillion by 2030. According to the study, this growth will be driven by newly adopted virtual economy trends, combined with the rise of both crypto and online games. Additionally, a recent survey conducted by CoinWire highlighted that the metaverse would likely reshape social lifestyles. CoinWire found that 69% of respondents believe that the metaverse will eventually modify social lifestyles due to new approaches taken for entertainment and activities. …

Entrepreneurs are betting on the future of the metaverse and cannabis industries. In the last decade, developments in government legislation have led to the legalization or decriminalization of cannabis in a number of countries, municipalities and U.S. states, allowing users to fully appreciate the sacred plant in both recreational and medicinal settings. While cannabis remains classified as a Schedule 1 drug by the United States federal government, decades of protests, scientific research and political lobbying have significantly reduced its stigma and opened the cannabis market for commercialization efforts. Technologically, the rise of the metaverse has reinvigorated the impact of having …

The metaverse hype that began in 2021 dissolved almost entirely by the end of 2022 as the top projects in the space, Decentraland, and The Sandbox, lost 95% of their market capitalization. The most prominent reason for the fall was lack of usage growth. Still, the metaverse narrative is far from dead and will grow in the future. Reportedly, Apple will launch its VR gear sometime in spring 2023. The announcement was a positive catalyst for MANA and SAND, causing a double-digit price surge. While there’s evidence of positive buying volume supporting the pump, the weak fundamentals of metaverse platforms …

Trump NFTs daily sales surge by 800% Former United States President Donald Trump’s nonfungible token (NFT) trading card collection has witnessed a massive resurgence in daily sales volume in recent days. Compared to Jan. 17 sales volumes, Jan 18. and Jan. 19 saw spikes of 800% and 600% respectively, according to market metrics aggregator Cryptoslam. Some pundits believe the renewed interest could be due to his imminent return to social media networks, following reports that the former president was seeking to rejoin Facebook and Twitter ahead of the 2024 presidential election campaign. NFT Watch: Trump Digital Trading Cards see 88% …

The sense of smell has been added to the virtual reality (VR) experience as showcased by metaverse-focused companies at the Consumer Electronics Show (CES) 2023. A recent report from consulting firm McKinsey & Company predicted that the metaverse could potentially generate $5 trillion in value by 2030. However, the report noted that metaverse success would need a more developed human aspect that delivers positive experiences to its users. One of these catalysts may be the integration of the sense of smell and touch into VR experiences which were showcased at the recent CES. As reported by Fortune, one of the …

While the 2022 bear market grazed off the excitement around the budding crypto sub-ecosystems such as nonfungible tokens (NFTs), the Metaverse remains well-positioned for long-term disruption. Considering the myriad consumer and business-centric use cases the metaverse could cater to, a McKinsey & Company report highlights the technology’s potential to generate up to $5 trillion in value by 2030. For the Metaverse to reach its full potential, the report highlighted the need for four technology enablers — devices (AR/VR, sensors, haptics, and peripherals), interoperability and open standards, facilitating platforms and development tools. However, the success of Metaverse is weighed by a …