Tag: Metaverse

The platform aims to consolidate the resources of academic institutions and enterprises in China, and bolster research efforts in areas related to the metaverse. On May 22, Nanjing, the capital city of China’s eastern Jiangsu province, inaugurated the China Metaverse Technology and Application Innovation Platform to advance metaverse research and development across the country. The…

Epic Games CEO Tim Sweeney made fun of a recent Business Insider article suggesting the metaverse had run its course. Epic Games CEO Tim Sweeney is just as optimistic about the metaverse as ever, after poking fun at a recent suggestion that online virtual worlds are “dead.” The now-billionaire video game entrepreneur — creator of…

Zuckerberg expects Reality Labs operating losses to increase year-over-year in 2023. Meta suffered a nearly $4 billion loss from its metaverse unit with Reality Labs in what was otherwise a solid first quarter for the Mark Zuckerberg-led social media empire, which posted a final profit of $5.7 billion. While the $4 billion loss follows a…

Known as state compression, the technology promises to drastically reduce the cost of on-chain storage. Layer-1 blockchain Solana has released a new solution aiming to drastically reduce the cost of on-chain storage. Called state compression, the technology promises to bring down the cost of minting 1 million nonfungible tokens (NFTs) on the network to nearly $110. “After numerous phases…

The metaverse has the potential to boost business success when engaging with customers. As the digital world continues to evolve, the concept of the metaverse has emerged as a promising new frontier for businesses looking to enhance communication and customer engagement. With its immersive and interactive nature, the metaverse offers unparalleled opportunities for companies to…

A letter from two U.S. senators cited reports of Instagram being behind many teenagers experiencing suicidal thoughts, and Meta’s failure to stop harmful ads aimed at young adults. Two United States senators have penned a letter asking Meta CEO Mark Zuckerberg to halt a plan to allow young adults to access the firm’s metaverse platform,…