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Sandbox co-founder Sebastien Borget emphasizes the booming metaverse market in Asia, despite seeming decline in the West. He is set to launch Lion City, a virtual neighborhood in the Sandbox metaverse, hinting potential geographical shift in metaverse utilization. This article also introduces the dynamic NFTs developed by Apple, possibly tipping the metaverse industry balance.

Researchers at Humboldt-Universität zu Berlin have developed an AI model, ‘OpinionGPT’, trained on Reddit data to reflect bias from certain demographic groups. However, the model encounters criticism for its questionable accuracy in representing real-world biases, indicating a representation of Reddit stereotypes rather than wider demographic sentiment.

“Hong Kong is advancing on the second phase of technical testing for China’s digital yuan, focusing on the digital wallet’s top-up functionality via the Faster Payment System. Concomitantly, the city grapples with challenges balancing financial innovation and consumer protection in the fast-paced digital currency landscape.”

Web3 fantasy-sports platform, Sorare, has introduced support for mainstream currencies to make its blockchain-based digital trading cards more accessible. Despite easing the use of the platform, cards remain as NFTs, and all transactions continue on the blockchain. This move balances improving access with promoting digital assets in mainstream tech.

Palm Foundation, with support from Polygon Labs and Consensys, is developing a Polygon Zero Knowledge Supernet to simplify onboarding and expand its NFT infrastructure. The plan includes addressing governance through Decentralized Autonomous Organizations and enhancing transaction speed while maintaining low gas fees. The initiative, targeting broader Web3 user-base, will complete its migration to a ZK Supernet by 2024.

The city of Shaoxing is set to roll out an Asian Games-themed digital yuan giveaway to demonstrate China’s progress in central bank digital currency (CBDC). Supermarkets, hospitals, and transport providers in the city are embracing digital yuan payment functions, highlighting the adaptability and acceptance of this payment method. Additionally, the central People’s Bank of China is trying to make the digital yuan integral to metro payments.

A highlight from the article: McDonald’s Hong Kong is stepping into the metaverse through ‘The Sandbox’, an Ethereum blockchain-based VR platform, to engage users and promote brand loyalty. Through this partnership, users can participate in a digital tour of the brand’s history and interact with virtual McDonald’s elements, earning tokens redeemable for virtual goods. This move signals a growing trend of leveraging blockchain technology for unique customer engagement strategies.

“In an innovative blend of fast food and blockchain, McDonald’s announced the McNuggets Land in The Sandbox, a metaverse platform. This immersive experience offers treasure hunts and prizes, but faces skepticism about the tangible value of such marketing strategies in a sensory-limited digital realm.”

Non-fungible token (NFT) ticketing company Get Protocol has secured $4.5 million in new funding, amid dwindling fundraising climate subsequent to the fall of the FTX exchange. The funds contributed by Flow Ventures and other notable Web3 companies aim to create an alternative to dominant entities such as Ticketmaster.

Digital collectibles giant, Candy Digital, and Web3 company, Palm NFT Studio, have unveiled a collaborative merger aimed to enhance digital interactions across varied fields such as sports and entertainment. The merging of these companies hopes to improve fan engagement through the creation of NFTs, providing an expanded platform for brands to connect with fans.

In the 9dcc x Stapleverse collaboration, 250 limited-edition baseball caps exemplify connected fashion bridging physical and digital realms via embedded NFC chips and Ethereum ERC-6551 technology. This blockchain-powered approach redefines luxury, focusing on community, experience, and unparalleled craftsmanship while promoting active participation in challenges, storytelling, and memory creation.

During Paris Fashion Week, Jeff Staple and gmoney introduced NFT-based autographs for limited edition 9dcc x Stapleverse baseball caps. This innovative crossover between Web3 technology and fashion highlights the possibilities of blockchain-based projects. However, a slow shift towards a crypto-enabled fashion world may require a decade, with regulatory politics being the main roadblock.

Disco, a metaverse company, aims to empower users to regain control of their data by moving it from isolated, company-owned platforms to digital wallets owned by individuals. By utilizing verifiable credentials, users can protect sensitive information while blockchain technology is essential in defining a user-owned identity.

The Apple VisionPro, a mixed reality headset, has garnered attention from the crypto community for its potential impact on the metaverse. Though it doesn’t compete directly with Meta’s QuestPro, the device facilitates broader discovery and pushes metaverse boundaries, driving immersion and technological innovation.

Aave secures $15 million to develop Lens, an NFT-powered protocol for decentralized social media platforms, enabling users to tokenize social data and transfer it between platforms. Built on Ethereum scaling solution Polygon, Lens aims to consolidate users’ online presence and promote growth across networks.

Apple’s Vision Pro headset announcement excites Web3 and open metaverse proponents, who believe better hardware is essential for an interoperable virtual world based on blockchain technology. However, concerns arise over Apple’s potential control over decentralization and guidelines within the metaverse.

The digital yuan is becoming a predominant form of payment in China, with venue cities for the Asian Games incorporating central bank digital currency (CBDC) transport solutions. The updated digital yuan app’s “ride code” function lets users scan their devices on the Hangzhou Metro, allowing for fast and efficient public transportation payments.

MakerDAO’s DAI stablecoin has reduced its USDC backing from 50% to 23.6%, increasing diversification in its backing assets. As dependency on USDC decreases, DAI’s backing now includes more significant real-world assets, such as U.S. government bonds and stablecoins like GUSD and USDP.

In a recent interview, entrepreneur and crypto enthusiast Gary Vaynerchuk discussed the current state of the NFT market, comparing it to collectible sports cards and stuffed animals. Despite concerns like market oversaturation and regulatory uncertainty, Vaynerchuk remains optimistic about the future of NFTs, as the technology’s application extends to art, sports, and entertainment industries.

The blockchain-powered Web3 music NFT marketplaces, such as AnotherBlock and Royal, enable fans to acquire tokenized music rights and earn royalties alongside artists. With high-profile backing and increasing interest, this intersection of blockchain and music presents a new frontier for creators, fans, and the industry.

The growing number of digital natives investing in cryptocurrencies and NFTs has led to the proposition of recognizing digital assets as legitimate property. Co-founder of The Sandbox, Sebastien Borget, believes governments should treat the digital economy as a “real economy” and acknowledge the value digital natives attribute to these assets while addressing concerns such as volatility, regulation, and environmental impact.

Epic Games CEO Tim Sweeney humorously defended the Metaverse’s future, countering an article claiming its decline. Noting the vast active user base across platforms and major corporations’ development and investment within the Metaverse, Sweeney’s optimism stands firm.