Metaverse Weekly Roundup #1

Week in Review


A Smartphone for the Metaverse

HTC has announced plans to develop a metaverse-compatible smartphone. This is reported by the German edition of WinFuture.

The gadget will be presented during the Mobile World Congress in 2022. The smartphone, according to HTC representatives, will have flagship qualities and will be targeted at consumers who are interested in new technologies and want easy access to virtual and augmented reality.

The features of the device were not revealed by the Taiwanese company. The device will be announced officially in April, according to the release. HTC also announced the launch of a new Viverse brand, under which all equipment designed to work with the metaverses will be released.

Hyundai Creates a Gas Station

In the Metaverse, Hyundai Oilbank has created a digital universal gas station that serves clients. This is a platform that allows users to view the 3D model of the site. The virtual multifunctional petrol station is here to promote other parts of the company’s operations as well as a wide selection of fuel alternatives for drivers.

The multi-service petrol station may be controlled through a personal computer or smart device. Customers may use the virtual station to fill their automobiles with electricity, fossil fuels, hydrogen and liquefied petroleum gas (LPG).

Pantera and Polychain Invest $10M in Metaverse

Space Runners has gathered funds to create a fashion-focused metaverse.

Space Runners, a startup aimed at growing the metaverse’s fashion business, has raised $10 million in its first round of funding. Pantera Capital and Polychain lead the financing round. Accel and Jump Crypto, as well as Animoca Brands Chairman Yat Siu and Twitch co-founder Justin Kahn, took part in the round.

Last December, Space Runners earned a reputation by releasing its first NBA Champions sneaker collection with former NBA champions Kyle Kuzma and Nick Young.

The company now intends to “play a role” in the virtual fashion industry.

China Plans To Stop Illegal NFT Gathering in the Metaverse

China’s Supreme People’s Procuratorate warned of “serious consequences” for financial crimes such as illegal fundraising and money laundering.

According to Zheng Xinjian, director of the Supreme People’s Procuratorate for Financial and Economic Crimes, China’s top prosecutor’s office noted the rise in financial crimes such as illegal fundraising disguised the metaverse, non-fungible tokens (NFTs), and cryptocurrency projects.

In an interview with local media, Zheng noted that to cope with such financial crimes, the legal system needed legislative measures and judicial interpretations.

In February, a court interpretation declared bitcoin to be unlawful fundraising.

Unlike crypto, NFTs and the metaverse are not prohibited in China, but official media have issued warnings about speculation and unlawful fundraising in these areas.

China, on the other hand, had great aspirations for the metaverse, as members of the two central political bodies proposed regulation and investment in the metaverse during the annual national plenary meetings.

Virtual Land Sale Has Moved $106M

Metaverse initiatives are generating millions of dollars every week in greater numbers than ever before.

Among them, an increasing number of businesses are purchasing virtual land and establishing their spot in this virtual world. To give you an indication, around $106 million was spent on virtual real estate just last week, including the purchase of digital property, luxury boats, and other non-financial assets.

Japan Opens First Virtual Train Station

As long as people buy and sell lands in Metaverse, Japan opens the first virtual station. This was reported on March 9 by Jiji Press news agency.

Akiba Virtual World is the name of the project (VAW). Akihabara is abbreviated as “Akiba.”

Users will be able to not only walk around the virtual station but also talk to each other, according to the “metaverse” idea. Jr East is planning a collaboration with the actual Akihabara Station, one of Tokyo’s 30 Yamanote Line stations.

Week in Review

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