Meta Digest #9
We are still in the early stages of the Web 3.0 shift
Joseph Lubin, one of the creators of Ethereum and founder of ConsenSys, spoke out about the development of Web 3.0 at the Blockchain conference. In his opinion, Web 3.0 will challenge business models around the world by redistributing profits and power to communities and content creators.
Lubin recalled Ethereum’s upcoming transition to Proof-of-Stake. He added that moving to a different consensus algorithm will strengthen its position as a key part of the emerging decentralized financial infrastructure.
Cheil Worldwide is about to become the first advertising company in the NFT market
Chosunbiz, a South Korean news outlet, reported the marketing agency of a South Korean technology conglomerate plans to enter the NFT market. Cheil Worldwide is not only going to produce NFTs, but also to open its own marketplace.
Cheil plans to promote music, art and game projects as NFTs. The agency is already recruiting specialists with blockchain development experience. According to CEO and president Jeongkeun Yoo, the company will dedicate 2022 to expanding its digital business. In addition to the development of NFT, the roadmap includes the production of content for the metaverse.
Abu Dhabi releases NFT trade guidelines document
The Abu Dhabi Global Market (ADGM) on Monday published a consultation paper titled “Proposals for enhancements to capital markets and virtual assets in ADGM.” The document contains preliminary recommendations that cover NFT trading, among other asset classes. The document proposes allowing companies licensed by the free zone financial regulator to facilitate NFT trading.
Financial Services Regulatory Authority (FSRA), describes NFTs as intellectual property rather than “certain investments or financial instruments.” It also proposes allowing multilateral trading facilities (MTFs) and Virtual Asset Custodians (VACs) to operate NFT markets.
Amazon enters the metaverse
Amazon has launched AWS Cloud Quest, a 3D web game that is essentially an educational course on how to use Amazon Web Services (AWS). In essence, it’s a virtual game world in the sense of the metaverse.
In Cloud Quest, players move through a virtual city, helping people solve real-world technical problems using cloud technology. The game has already been credited as Amazon’s first attempt at creating its own metaverse world.
Madonna purchases a BAYC collection token for 180 ETH
Madonna has entered the metaverse. The singer has announced the purchase of an NFT from the Bored Ape Yacht Club collection. The token was purchased for 180 ETH using MoonPay service.
According to OpenSea, the token was purchased by MoonPay in mid-March, and on March 23 it was transferred to the wallet where NFT remains at the moment. Over the past seven months, the price of the token has almost quadrupled, from 46.5 ETH to 180 ETH.
Virtual tour of India with NFT
Indian online travel company MakeMyTrip has released a limited NFT collection with some of the most famous travel destinations. For now, only Orissa, Meghalaya and Himachal remain. Six of the 9 originally available tours are already completely sold out.
NFTs run on the Polygon network and can be purchased on the Ngagen NFT marketplace. Each art is created with artificial intelligence and resembles a picture in a kaleidoscope.