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Sandbox and Time partner to create “Time Square” in the metaverse

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Time and Sandbox have joined forces to create “Time Square” in the metaverse, which is modelled after the Times Square neighbourhood in New York.

TIME Square will be built on TIME’s property in The Sandbox as a hub for gathering, art, and commerce, inspired by the aesthetic energy of New York’s Times Square.

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TIME’s president, Keith A. Grossman, made the announcement at the Sandbox event held at NFT.NYC. A chance for architects to create TIME Square was also mentioned in the announcement. TIME is also looking for suggestions from the metaverse community and its devotees in order to find a creative architect who can create a graphic representation of the TIME Square. He further added,

“We are thrilled to now tap into that community as we seek to find the architect to design TIME Square in the metaverse, as we create an immersive experience with The Sandbox.”

Virtual Manhattan, Sandbox to help create the core of Metaverse

According to Time’s president, Grossman, their objective is to develop a location that will serve as the metaverse’s hub. Time is concentrated on building a community on Web3 that will gain from the tremendous 100-year legacy and access TIME has developed since launching TIMEPieces in September 2021.

The owners of TIMEPiece NFTs will also receive exclusive advantages and experiences from TIME Square. For the TIMEPieces community, the website will offer virtual access to discussions, events, screenings of TIME Studios productions, and educational opportunities.

Sebastien Borget, COO and Co-Founder of The Sandbox, said,

“The Sandbox is often viewed as a ‘virtual Manhattan’, a vibrant space alive with culture, entertainment, and brands, where anyone can discover, learn, work, meet new people, play, dance, and find amazing new opportunities.

According to Sebastien Borget, the partnership will make TIMEPieces the beating heart and soul of the digital Manhattan. The location will serve as a meeting point for companies and creators to collaborate.

Meta Set To Unveil A Full-Fledged Metaverse Academy In France

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Meta Platforms, formerly Facebook, has teamed up with a French digital training firm to launch a “metaverse academy” in France for the new academic year, as per a Sunday announcement.

Metaverse which is widely viewed as the next iteration of the internet technically refers to an immersive digital world consisting of augmented or virtual reality and transforms the web from 2D to 3D.

As per the press release, the initial goal for the school would be to train for free around 100 students in two roles, specialist immersive technology developers and support and assistance technicians, Meta’s vice president for southern Europe Laurent Solly told AFP.

The teaching would be imparted in-person and revolve around projects, with a focus on the 3D world and interactions in the virtual universes, said Frederic Bardeau, co-founder and boss of Simplon, the Partner French firm

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Sandbox and Time partner to create "Time Square" in the metaverse 3

Located in the capital Paris and other cities including Lyon, Marseille, and Nice, the new academy will train 20 students per city each year.

Diversity would also be given particular attention. Solly said 30% of the first batch would be reserved for women.

Meta To Soon Launch Crypto Exchange

Back in October 2021, the tech firm said it intended to create 10,000 jobs in Europe in five years’ time to build the virtual world the US technology giant’s new strategic priority.

Till May 2022, it has filed five trademark applications in the U.S. for its newly rebranded payments product, Meta Pay. The applications indicate that the company may have plans to launch a slew of crypto-related products and services, including a crypto exchange and a wallet.

A week earlier, fintech head Stephane Kasriel said that the new payment projet wants to provide a cross-platform “single wallet experience.”

The trademarks, filed on May 13 with the United States Patent and Trademark Office, aim to protect Meta’s newly acquired brand name “Meta Pay” as well as its associated logos and symbols related to a variety of crypto-related products and services, including a crypto wallet, a trading service, and an online social networking service for investors.

The trademark applications also suggest that platform is looking to enter into crypto lending, card, and investment services.

Metaverse Welcomes a Dentistry for the First Time

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The Dental Design Studio is the first company to establish a claim in the metaverse for dentistry. The British dental firm has 15 physical facilities in the United Kingdom, as well as one in the Sandbox.

The dentistry firm intends to construct interactive mirror versions of its surgeries on the property. Patients can sit in a dentist’s chair, have a consultation, get virtual treatments, talk to the staff, and study oral hygiene videos in the dental metaverse.

Users can design their own avatars and even alter their appearance, right down to their teeth. While people are unable to receive dental treatment, the company recognizes the commercial potential of establishing a presence online.

Dental education possibilities in the metaverse

All of this appears to be a waste of time rather than a useful application of the metaverse. However, there is a unique educational opportunity here.

Dental courses and lectures, according to the dental chain, can be offered online. Regional surgery can now reach an international audience with this new initiative.

“At The Dental Design Studio, we have always been interested in technology and have tried to innovate in any area that will benefit our patients. As people are increasingly starting to use the metaverse as a form of social interaction, we got the idea to create a group of dental practices in the metaverse – giving patients the chance to experience the dentist in a different way. ”

Dr Jeff Sherer

Dentists, according to Dr. Sherer, can benefit from having their surgeries in the digital world. Meanwhile, a startup called Immersive Touch is utilizing virtual reality to help dentists rehearse procedures before doing them in real life.

Yuga Labs Keeps up the Promise: Failed ‘Otherdeed’ Transaction Users Receive Gas Fees

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Yuga Labs reported in a Wednesday Twitter thread that everyone who failed to mint an “Otherdeed” non-fungible token (NFT) before April 30 had received their gas fees back.

Yuga Labs stated in the thread, “We have reimbursed gas prices to everyone who performed a transaction that failed due to network constraints created by the mint.” “The fees were refunded to the wallets that were used for the initial transaction.”

According to statistics from Etherscan, Yuga Labs spent a total of 90.57 ETH (approximately US$265,000) on 640 refunds. The most significant individual return was 2.6 ETH (about $7,500), and the company spent 0.26 ETH (around $783) in gas expenses to send out all of the reimbursements.

Yuga Labs faced the repercussions of the failed mint

Yuga Labs, which owns Bored Ape Yacht Club, one of the most costly collections of nonfungible tokens (NFTs), started selling its latest digital products on April 30.

The costs were just too exorbitant for many consumers. Some people paid transaction fees that were more than five times the amount of the item they bought.

The auction was part of Yuga Labs’ ambition to develop Otherside, a crypto-based metaverse featuring the Bored Ape characters.

Like other crypto-based platforms such as Decentraland and Upland, Otherside will partition the geography into patches of virtual land called Otherdeeds, which will be sold to players as NFTs.

While the auction raised $253 million, the increased demand overloaded the Ethereum network, causing transaction costs known as gas fees to rise. Many consumers who spent less than $10 for an NFT were forced to pay tens of thousands of dollars in petrol costs. An unknown buyer paid $45,000 in transaction costs for a $5,800 NFT.

Yuga had announced the refund days in advance and cautioned consumers about possible phishing schemes imitating the company, which had been common in recent days.

Yuga used MultiSender to disperse the payments to decrease the possibility of fraud on the refund’s back end. Before receiving money, MultiSender does not need wallets to engage with or confirm a contract.

Stay Hydrated as Gatorade Is Coming to the Metaverse

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Stokely-Van Camp, the beverage business that has the rights to sell and manufacture Gatorade, might be looking at launching virtual sports beverages in the metaverse.

Stokely-Van Camp filed two applications for the word Gatorade and the sports drink’s “G”-shaped orange, black, and white logo to be used in connection with “virtual beverage products” and nonfungible tokens, or NFTs, according to records submitted to the United States Patent and Trademark Office, or USPTO, on Wednesday.

According to the documents, Gatorade is prepared to launch its branded items in the metaverse.

Now you got Gatorade in the metaverse

Gatorade’s name and symbol might also be utilized in digital media artwork, text, music, and video, according to Stokely-Van Camp. According to the USPTO’s current status, the application review process might take up to six months.

Gatorade is a popular sports drink that is consumed in more than 80 countries. It is now owned by PepsiCo, a global food conglomerate. In 2021, the corporation allegedly sold $2.6 billion worth of goods in convenience shops across the United States and dominated 46% of the global sports drink industry.

If Gatorade enters the metaverse, it will join several other large food and beverage companies, including Coca-Cola, McDonald’s, and Anheuser-Busch.

How To Make Money With The Metaverse As A Beginner In 2022
Sandbox and Time partner to create "Time Square" in the metaverse 5

Gatorade is a sports drink with a massive global market, with over 80 million people drinking it every day. They sold $2.1 billion worth of items at convenience shops across the United States in 2021.

They also have a 46 percent market share in the global sports drink industry. As businesses come to terms with the impact on their income, the metaverse is developing exponentially.

According to a recent Accenture poll, 71 percent of respondents believe the metaverse would have a beneficial influence on organizations.

In addition, 42% believe it will be transformative or groundbreaking for firms. The metaverse is still in its infancy, according to Accenture’s Chief Executive Officer Julie Sweet and Chief Technology Officer Paul Daugherty. As a result, businesses must take action.

Mark Zuckerberg is the founder and CEO of Facebook. He recently said that he intends to spend $10 billion on virtual reality software and hardware.

He feels that since the internet’s inception, the virtual reality world has presented the greatest potential for modern enterprises.

Spotify: Gamers Can Now Bob Their Heads To Music-Themed Islands In Roblox Metaverse

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Popular streaming music provider Spotify has stepped into the metaverse of gaming platform Roblox with the launch of Spotify Island.

Through this collaboration, the Swedish streaming giant has joined major labels in the Roblox metaverse which aims to build an interactive presence. Apart from that, it has become the first music streamer to enter the gaming platform.

As per a statement released, Spotify Island will enable fans to create new sounds together, hang out in digital spaces and gain access to exclusive merch.

“Roblox users can mingle with artists, complete interactive quests, and unlock exclusive content,” it read. “Players can also enjoy an immersive audio experience by creating music and exploring sounds at the virtual beat-maker stations powered by Soundtrap.”

From the main Spotify Island, gamers will be able to connect to themed islands that will come to life throughout the year. It will also provide exclusive content, artist interactions, and themed ‘mini-quests’.

Spotify enters the Roblox metaverse

“Through the Island, we’re creating an easy opportunity for artists to connect with fans and to partner with Spotify on the creation of in-game virtual merchandise,” said the statement.

“Spotify’s portion of those sales will go directly back to the artists themselves. We’ll work with artists to create more opportunities like this in the months ahead,” it added.

Will Spotify propel Music to become the next breakout NFT application?

In March, Spotify announced plans to add blockchain innovation and non-fungible tokens to its web-based feature.

Of late, the already crowded NFT market has shown signs of deceleration, several in the crypto business have tipped music as a breakout new application for NFTs this year.

That opens up a whole new range of opportunities like selling advanced collections or utilizing NFTs to open advantages at gigs, from product to behind-the-stage passes.

For example, Musicians, such as rapper Snoop Dogg and DJ Steve Aoki have effectively become noticeable NFT authorities, while Kings of Leon and Grimes have sold NFTs of their music.

Even Warner and Universal have several NFT projects in their kitty, including a virtual band highlighting characters from the Bored Ape Yacht Club.

Metaverse Gets First-Of-Its-Kind Monastery Built By NFT Guru Founder

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Metaverse now has its own monastery, thanks to the efforts of NFT Guru, a project conceived by the founders of the popular Instagram platform- The Trillionaire Life. One of the founders named Vaibhav Sharma aka Tullu spoke at length about the new venture.

The Indian entrepreneur started his career in the United Nations HQ on a gender equality campaign in New York. Sharma implemented data-driven campaigns, managing 5 Billion impressions with over 250 million people engaged.

Briefing on his current firm, he said, NFT Gurus is a high utility digital art NFT collection that has 7777 unique NFTs stored as ERC-721 tokens and hosted on IPFS [ a peer-to-peer storage network]. Each Guru gives numerous benefits to holders, he claimed.

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Perhaps his affinity for maximum user engagement has led the young business consultant to dip his toe in the metaverse realm.

Speaking on the ambitious project, Sharma said for building the world’s first monastery in the metaverse. the firm has acquired land on both the major metaverse platforms like Decentraland and Sandbox

Metaverse goes global

While the 3D virtual world has opened up the gates for many individual artists and smaller firms to expand their footprint. Legacy firms have finally woken up from their deep slumber and have jumped aboard to reap the benefits of the digital world.

A few months ago, JP Morgan became the world’s first bank to have launched sites in the Metaverse. And Meta Bank DeFi too announced it has entered the fray. The photorealistic crypto project says it is the world’s first decentralized 360 solution bank in the virtual world.

In the same time period, MetaBlaze set off its journey as The World’s First Blockchain-Gaming Metaverse Offering Lifetime Passive Yields. Here it offers gamers a place to immerse themselves in a high-level, 3D, P2E [play-to-earn] RPG, [role-playing-game] encompassing exclusive content, superior graphics, and hyper engaging gameplay.

The first-of-its-kind Metaverse Fashion Week also introduced shows and digital experiences through a four-day event from March 24-to 28. The event hosted on the virtual platform Decentraland saw the participation of several top designers and fashion powerhouses such as Dolce and Gabbana, Roberto Cavalli, and Tommy Hilfiger among others.

Yuga Labs Otherside Metaverse Sales Cause a Surge in ETH Gas Fees

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While the Yuga Labs and BAYC community saw the world’s largest nonfungible token (NFT) mint, Ethereum gas costs skyrocketed, and users experienced failed transactions owing to network delays.

Yuga Labs, the company behind the Bored Ape Yacht Club, has begun selling Otherdeed nonfungible tokens, which represent digital land titles, on its latest initiative, the Otherside metaverse.

Yuga Labs made $319 million when 55,000 NFTs sold out almost instantaneously, with each piece of land selling for 305 ApeCoin (APE), or roughly $5,800 at the time of the sale.

While Otherdeed NFTs were exclusively available in APE, they did require Ether (ETH) for gas costs.

Yuga Labs’ minting mechanics envisaged the selling of NFTs in stages, anticipating a brief increase in gas costs, which would subsequently slow down the number of people minting the NFTs:

“This pattern of mint → bump limit → mint → bump limit will continue until NFT supply is exhausted. This approach is expected to prevent an apocalyptic gas war, while also encouraging as broad a distribution as possible.”

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Sandbox and Time partner to create "Time Square" in the metaverse 10

Yuga Labs witnessed a gas unlike never before

Users witnessed gas fees unlike ever before which also affected their ETH holdings in the surge to own a plot of Otherside Metaverse. According to Etherscan statistics, several users paid gas fees ranging from 2.6 ETH ($6500) to 5 ETH ($14000).

Yuga Labs noted, citing some of the challenges with using Ether during its NFT launch:

“We’re sorry for turning off the lights on Ethereum for a while. It seems abundantly clear that ApeCoin will need to migrate to its own chain in order to properly scale.”

Yuga Labs has offered to return the gas value to customers who have lost their ETH holdings in gas owing to unsuccessful transactions.

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Sandbox and Time partner to create "Time Square" in the metaverse 11

Due to the inflow of ecosystems hosted on the blockchain, particularly NFTs, Ethereum’s famed gas costs have been a long-standing source of anxiety within the community.

To reduce the overall transaction call data gas cost across the ETH network, Ethereum co-founder Vitalik Buterin suggested a new block-wide restriction on total transaction call data in November 2021.

While the community accepted the idea, implementing EIP-4488 on Geth’s Ethereum-sidechain testnet took almost four months. Qi Zhou, a member of the community, verified the news on Wednesday.

ApeCoin Is Trading at an All-Time High Ahead of the Metaverse Launch

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ApeCoin, developed by Yuga Labs, is trading at all-time highs ahead of Saturday’s Otherside NFT auction. The NFTs are thought to represent land parcels for the Otherside Metaverse.

The subsequent major development in the universe of the Bored Ape Yacht Club is just around the corner.

Participants can take part in the first mint for Otherside, a new Metaverse being launched by Bored Ape Yacht Club founder Yuga Labs, can join today if they pre-registered on somethingisbrewing.xyz before April 1st. The NFTs represent Otherdeeds, 55k plots of land that will be available for sale.

The Otherside metaverse and apecoin

ApeCoin’s price has shown fluctuations ever since its debut on March 17th. It dropped to an all-time low of $6.21 shortly after its introduction but swiftly recovered. ApeCoin has marked new all-time highs since April 21 and is currently trading at $22.

ApeCoin has recently risen above rival Metaverse coins like Decentraland’s MANA and The Sandbox’s SAND. APE has a market capitalization of about $5.7 billion, making it the 28th most valuable cryptocurrency.

Yuga Labs NFTs are also selling at record values on OpenSea, in addition to ApeCoin’s new highs. The floor price of Bored Apes has risen by 40% in the last 30 days to approximately 140 ETH.

Mutant Apes has suffered a more severe price hike, with the most affordable specimens now costing 37.5 ETH, up 70% from a month ago.

The upcoming Otherside NFT mint is responsible for much of ApeCoin’s recent surge. There is talk that a special NFT marketplace will launch simultaneously as the NFT mint, allowing for exclusive trade of the new NFTs.

Some have claimed that requiring know-your-customer identification for individuals pre-registered for the NFT drop would only have been essential if users expected to benefit by selling NFTs directly through Yuga Labs’ platform.

The land known as the Otherdeeds will be for sale. For 305 APE per plot, each piece of land will be accessible. For customers who have completed KYC, a total of 55k land plots will be available for purchase.

Instead of going to the Dutch auction, the team chose to sell Otherdeeds for 305 ApeCoin. The researchers predicted that the Dutch auctions would fail to stop the gas wars in these hotly contested mints.

As a result, instead of Dutch auctions, sales will occur in waves. One KYC’d wallet may only mint 2 Otherdeeds in every wave. The crew will begin wave two once the gas price has stabilized.

India’s Crypto Exchange Bitbns Becomes First To Hosts Metaverse Token TRACE

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India’s crypto exchange Bitbns became the first among its peers in the country to list metaverse token ‘TRACE’ on its platform. The popular metaverse token is part of the Trace Network Labs, known for augmenting digital avatars.

One of the asset’s several use cases is its ability to grant network users governance control over the protocol. TRACE also provides better exposure to the world of non-fungible tokens in the ever-expanding metaverse universe.

Apart from that, TRACE also extends other utilities like rewarding network participants through various incentives, including staking and farming. The asset is the fuel of the network and ecosystem and is used for multiple transactions besides participation in protocol operations.

The metaverse token on its website claims to be a complete decentralized protocol that enables lifestyle for any multichain metaverse. It builds technologies aiming to transform the way people access any metaverse or metaverse assets.

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Sandbox and Time partner to create "Time Square" in the metaverse 13

Further, it allows users to become metaverse residents by creating their look-alike which it calls ‘Digital-Twins’, or ‘Digital Avatars’. These so-called digital replicas are then able to roam freely across multiple virtual worlds in different blockchain networks.

Trace Network Labs is backed by investors such as AU21 Capital, NGC Ventures, OKex Blockchain ventures, LD Capital, Moonrock Capital, Moonwhale, and DAO maker, among others.

Bitbns now supports 400+ cryptocurrencies

With this new addition, the crypto service provider has expanded its collection to support more than 400 cryptocurrencies. The latest inclusion comes after listing several other popular metaverse tokens, such as Alien World, RFOX, and DEAPcoin.

Speaking on the same, Gaurav Dahake, CEO, of Bitbns, says, that Bitbns have always strife to offer unique propositions to customers. Together with the seamless amalgamation of virtual reality [VR], AI, and augmented reality [AR], Dahake noted that the Metaverse is on its way to a roaring success, especially in terms of offering unlimited opportunities to its users.

With the addition of TRACE on Bitbns, we have broadened the metaverse offering on our platform. We are excited to allow our users to explore real-looking avatars and use them in another metaverse world. We are also exploring ways our users can mint their Avatars from within the platform.