Meta Platforms announced a 30 % reduction in its investment in the metaverse, in addition to a 10 % global spending cut.

The announcement has raised concerns among employees, as these actions could translate into layoffs as early as January.

It is estimated that the unit most affected by this reduction in metaverse investment is the virtual reality development unit.

For now, there’s no definitive answer from Mark Zuckerberg regarding this rethink, although it’s almost certain to happen as part of the company’s budget adjustments for 2026.

M.Pino

Source: eleconomista

(Reference image source: Dima Solomin on Unsplash)

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La entrada Meta Platforms to cut Investment in the metaverse by 30 % apareció primero en Bitfinance.

Walt Disney Co. announced the acquisition of a $1.5 billion equity stake in Epic Games, intended to create what the company describes as a “persistent universe”. This project, which is subject to regulatory approval, promises to be a revolutionary gaming experience that will integrate with Epic’s popular game, Fortnite.

According to a statement issued on February 7, Disney plans to develop a “universe of games and entertainment” that will allow users to interact with Disney’s iconic content, characters and stories. Epic Games founder and CEO Tim Sweeney expressed his enthusiasm for the partnership, highlighting the building of a persistent and open ecosystem. For his part, Bob Iger, CEO of Disney, described this initiative as the company’s biggest step in the world of games.

The project, backed by Epic’s powerful Unreal Engine, aims to give gamers the ability to create their own stories and experiences within the digital universe. However, details on the launch date of this ambitious metaverse project have not been revealed.

Disney’s strategic move comes less than a year after closing its metaverse division in an attempt to cut operating costs, demonstrating a significant shift in its focus toward gaming and digital entertainment.

Tim Sweeney maintained an optimistic stance on the potential of metaverse, challenging claims about its decline and citing the large number of monthly active users on various metaverses.

This partnership between Disney and Epic Games also coincides with Disney’s fiscal first quarter 2024 report, in which the company surpassed Wall Street revenue estimates, generating $23.6 billion in revenue. Despite this success, revenue growth remained stable compared to the same period of the previous year.

In addition, Disney announced a 50 % increase in the dividend per share and experienced a 7 % increase in the price of its shares in off-hours operations.

This strategic partnership between two entertainment giants promises to redefine the gaming and digital entertainment landscape, offering users an immersive and exciting experience within an ever-changing digital universe.

K. Tovar

Source: Walt Disney Company

(Reference image source: Travis Gergen at Unsplash)

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La entrada Disney to make a major investment in Epic Games apareció primero en Bitfinance.

With the aim of positioning itself on the digital stage, Reebok established an alliance with the technology startup Futureverse for the launch of games in the metaverse in 2024, relying on artificial intelligence and blockchain technology.

The company, dedicated to the sports products sector, will make the leap to the metaverse with new games that promise an incomparable digital experience.

In this sense, it was learned that in 2024 they will launch “Reebok Impact”, in alliance with Futureverse, which highlights an “amazing and mind-blowing digital footwear experience”, incorporating “artificial intelligence and digital wearable devices on the blockchain.”

“With this collaboration, the firm seeks to extend its presence to virtual environments and revolutionize fashion in the digital world,” according to the company on its social networks.

The globally recognized brand works on “immersive virtual gaming experiences, in which digital versions of its shoes, in non-fungible token (NFT) formats, have real utility.”

Excited to partner with @futureverse to launch @ReebokImpact in 2024, a mind and heart-bending digital shoe experience that will allow our community and beyond to dive into AI and digital wearables. https://t.co/uH4CgAiYQn

— Reebok (@Reebok) December 7, 2023

M.Pino

Source: morocotacoin

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La entrada Reebok will enter the metaverse with games based on blockchain and AI apareció primero en Bitfinance.

Recent research from Grand View Research reveals that the NFT market has reached an impressive figure of over $200 billion in the near future, transforming our perception of value and ownership in the digital and physical worlds.

During the year 2022, the NFT market had already reached a staggering value of $20.44 billion, accounting for more than 72 % of the global digital asset market revenue, according to the study.

Projections indicate a compound growth of 34.2 % from 2023 to 2030 in the NFT market, demonstrating an exponential increase in the value of digital assets. This growth is attributed to the growing interest in digital ownership and the search for unique digital identities.

In El Salvador, the Ministry of Education started an exciting pilot program in collaboration with local Bitcoin projects such as Bitcoin Beach and My First Bitcoin. The program aims to train at least 150 public school teachers on Bitcoin and cryptocurrencies, teaching them how to make simple transactions through virtual wallets before returning to their local classrooms.

K. Tovar

Source: Criptotendencia

(Referential image source: Andrey Metelev, Unsplash)

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La entrada Nft market could grow to $200 billion apareció primero en Bitfinance.

A third of non-fungible token (NFT) buyers currently don’t know what to do with them, reflecting the decline in popularity of this digital asset after peaking a couple of years ago.

The NFT market suffered a drop of more than 90% in 2022, mainly due to the collapse of some cryptocurrencies such as Luna or FTX. OpenSea, the largest sales platform for these crypto assets, went from selling $3 billion in September 2021 to $350 million in September 2022.

The fall in its value has questioned the viability of the future of NFTs and, in this sense, according to the Hiscox Online Art Report 2023, 36 % of those who own assets of this type affirm that their intention is to sell part of their collections and 6 % would donate them to charitable causes.

By contrast, 43 % of buyers say they will keep their NFTs for personal enjoyment, 28% would like to display them in the metaverse, and 19 % in a physical museum or gallery. However, the report highlights that there is “a third” of the owners of these assets who do not know what to do with them.

Source: dpa

(Reference image source: Andrey Metelev, Unsplash)

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FC Barcelona announced on Monday the launch of ‘Barça Vision’, the platform under which it wants to group all the initiatives associated with ‘Web3’, ‘NFT’s’ and the metaverse that until now were under the trademark ‘Bridgeburg Invest’, a subsidiary of ‘Barca Studios’.

According to the Barça team, ‘Barça Vision’ “will be a fundamental part of the club’s strategy to build the ‘Espai Barça Digital’ and bring together the digital community of fans of FC Barcelona from all over the world, with a focus on ‘Gen alpha’, ‘Gen Z’ and ‘Millennials'”. FC Barcelona will make a public presentation of its new platform this Wednesday June 21 at the ‘Museu Immersiu’.

In addition, the club chaired by Joan Laporta also presented its own ‘WhatsApp Channel’ this Monday, the new functionality of the platform that allows notifications to be sent directly to the members who follow it.

“This is a simple, secure and private way to receive news from the club, directly in ‘WhatsApp’ and it is a functionality that is already available in Singapore and Colombia, although in the coming weeks it will be extended to other territories until it is available for all parts of the world”, indicated the FC Barcelona.

He recalled that it was one of the few sports entities that collaborated with ‘WhatsApp’ for the launch of ‘WhatsApp Channels’ and the only football club that appeared in the presentation video blog and in the different communications to the media launched by the platform. “This is just one example of FC Barcelona’s leadership in each of its profiles on the social networks where it is present and its community is constantly growing”, he stressed.

The ‘WhatsApp Channel’ is a one-way transmission tool for administrators to send text, photos, videos, stickers and surveys. The channels will appear in a new tab called ‘Updates’, where the statuses and channels that the user wants to follow will be, separated from the rest of the chats with family, friends and communities.

Source: dpa

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La entrada FC Barcelona launches Barça Vision, a platform for Web3, NFT’s and metaverse apareció primero en Bitfinance.

The first edition of Meta World Congress will hold its first edition on March 31 and April 1 in Madrid, with the intention of becoming one of the leading events in the world of technology and innovation, with its focus on the metaverse, web 3.0, virtual reality and augmented reality.

This congress is organized by Metaverso.pro and will open its doors on March 31 and can be followed in a more traditional way at La Nave in Madrid, where it hopes to bring together more than 5,000 people per day, and simultaneously in the Uttopion metaverses, Legendaryum, Xave World, Evveland, Parqueland and Hospiland.

This is the first edition of an event “designed to connect and generate business, promoting the creation of useful connections between suppliers, companies and investors with the aim of boosting projects in development and promoting future initiatives”, as explained by the organization.

To this end, La Nave will have an area dedicated to exhibitors and immersive activities, with more than 6,000m2, to experience first-hand the potential of virtual reality and augmented reality. Brands such as Outer Ring, Crypto Plaza, Belobaba, Bitlab or Auren will be present.

From the organization they indicate that on the first day, the presentations and round tables of the event will be addressed to a more professional public, being focused on issues such as the creation of new productive sectors, investments, the digital economy, legislative and legal challenges and challenges. or cross-sectoral adaptation to new technologies.

On Saturday, April 1, Meta World Congress will focus more on the final consumer, with tables and presentations on eSports, gaming, training to work in the sector, fashion, influencers, cinema, entertainment, fitness or new trends and devices.

Source: dpa

(Reference image source: file)

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La entrada Meta World Congress will be focused on the metaverse and web3 technologies apareció primero en Bitfinance.

Danish iconic toy and collectible figures company, Lego Group, is ready for its official entry into the metaverse. According to a report published by the Financial Times and disseminated by other means, Lego will join forces with Epic Games, the video game producer behind Fortnite, to develop a virtual world that allows them to reach new markets.

Lego CEO Niels Christiansen stated that the idea is to create a space for the brand in the metaverse so that it is also recognized in these new spaces.

The collaboration between Lego and Epic Games is not new, as both companies funded the creators of Fortnite in 2021 to create a safe and secure platform for children.

Lego has been hiring staff to develop software and digital experiences. With their extensive experience and recognition in popular culture, video games, movies, and figure making, they may be able to create a more immersive and engaging experience for the metaverse.

Although the metaverse is very attractive, it still does not show a level of development that is attractive to potential users. This initiative could refresh the idea of the metaverse and make it more attractive to everyone.

K. Tovar

Source: Diariobitcoin

(Reference image source: Daniel K Cheung, Unsplash)

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La entrada Lego teams up with Epic Games to enter the metaverse apareció primero en Bitfinance.

Payments on the Web3, with cryptocurrencies, in the real world and the metaverse, are made possible by a partnership between Mastercard and Immersve.

Mastercard reported that the new product constitutes the most decentralized digital payment card to date. It will allow users to spend with their cryptocurrencies through a new “web3/metaverse multi-chain payment protocol.”

The system can interact on Web3 with the infrastructure of Web2. Regarding the payments, they will be made using the USCD stablecoin, which Circle has developed.

In this sense, Jerome Faury, CEO of the Immersve platform, indicated that the joint work with Mastercard allows them to move towards Web3 and strengthen digital payments, both in the real world and in the metaverse.

M.Pino

Source: observatorioblockchain

(Reference image source: Patrick Tomasso, Unsplash)

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La entrada Mastercard launches Web3 card for cryptocurrency payments apareció primero en Bitfinance.

Meta would be preparing a new round of job cuts, according to Financial Times, which points out the delay of the multinational in the preparation of budgets for various teams in this context.

According to two Meta employees familiar with the situation, a lack of clarity about future budgets or headcount would have prevented planning for upcoming workloads, adding that projects and decisions that normally take days to approve now take around a month in some cases, including in priority areas, such as the metaverse and advertising.

In this way, according to three employees consulted by the British newspaper, despite the workforce adjustment last November, more cuts are expected around March, since the company is currently undergoing staff performance reviews.

Marck Zuckerberg, CEO of the company, defined the multinational’s efforts to control its costs during the current year as “the year of efficiency”, after the slowdown in the economy weighed down Meta’s results in 2022.

At the beginning of February, Meta reported that it obtained a net profit of 23,200 million dollars (21,725 ​​million euros) in 2022, which represented a drop of 41 % compared to the result recorded a year earlier, while its annual income added a total of 116,609 million dollars (109,197 million euros), 1.1 percent less than in 2021, which represents the first annual drop in the company’s turnover.

Meta’s chief financial officer, Susan Li, expressed confidence that total revenue for the first quarter of 2023 will be in the range of $26-28.5 billion, while she estimates that total expenses for the full year will be in the range of $89-28.5 billion. 95,000 million dollars (81,609 and 87,110 million euros), compared to the previous perspective of between 94,000 and 100,000 million dollars (86,194 and 91,695 million euros).

Source: dpa

(Reference image source: Dima Solomin, Unsplash)

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La entrada Meta plans a new round of layoffs apareció primero en Bitfinance.