Announcements

Meta is bringing luxury fashion into the metaverse with the announcement of a digital fashion marketplace dedicated to its virtual avatars. Outfits of three high fashion brands – Balenciaga, Prada, and Thom Browne – could be worn across Meta-owned platforms, including Facebook, Instagram, and Messenger. Meta’s CEO Mark Zuckerberg and Instagram‘s director of fashion partnerships…

Huobi Group, the major global crypto exchange, announced Friday it obtained a DIFC Innovation License in Dubai, seeing its development as a significant milestone in the group’s compliant growth. Huobi also got registration on New Zealand’s Financial Services Provider Register. The DIFC Innovation License is a license for innovative technology companies in Dubai and provides…

The NFT and Web3 gaming-focused crypto startup Immutable announced Friday that it has launched a $500 million ecosystem development fund to accelerate the adoption of promising Web3 projects building on its Ethereum Layer 2 scaling platform, Immutable X. “The Immutable Developer and Venture Fund,” which is a mix of both cash and Immutable X’s native…

Crypto exchanges Binance and Kraken, reportedly along with layer-2 sidechain Polygon, are looking to add staff amid crashing crypto markets. While Coinbase, BlockFi, and Crypto.com are among the crypto-related companies announcing layoffs this week. The US-based crypto exchange Kraken revealed on June 15 that it has not altered its recruiting strategy and does not expect…

Bitcoin’s price fluctuated after the Federal Reserve announced further monetary tightening on June 15, falling to as low as $20,270 after the Fed’s statement. But an hour after the announcement, the cryptocurrency was traded at $21,444. As a long-awaited step, the Fed announced that it will raise the fed-funds rate, the interest rate at which…

Gulf News has announced that it will be hosting Web3 DeCode, a two-day exhibition at the Grand Hyatt in Dubai, on June 25 and 26. To raise awareness of Web3 technology, its ascension in emerging markets like the UAE plus its impact on innovation, and life, as we know it, Gulf News is hosting Web3…