CoinMarketCap and Nansen look at the latest happenings in the metaverse — from LEGO setting up a kid-friendly metaverse space to LawCity launching the first legal district in Decentraland.
Here are some top metaverse stories over the past week.
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Payments Giant Mastercard Files for Metaverse-Related Trademarks
Kondoudis also noted that Mastercard has plans to host metaverse events focused on cryptocurrency, finance, and digital collectibles. The trademark attorney added that the company expects to become a key player in the digital economy.
HSBC Debuts Metaverse Portfolio for Rich Customers in Asia
Administered by HSBC’s financial advisory unit, the Metaverse Discretionary Strategy portfolio will invest in five core segments in the metaverse ecosystem, namely, experience and discovery, computing, infrastructure, interface, and virtualization. Commenting on the new product, Lina Lim, HSBC's Asia Pacific regional director of funds and discretionary for investments and asset solutions, said:
"While still in its early stages, the metaverse ecosystem is fast expanding […] We see a lot of intriguing prospects in this market, as organizations of all sizes and backgrounds are rushing in."
In addition to accredited shareholder clients in both Hong Kong and Singapore, the discretionary portfolio targets high net worth and ultra-high net value clients of HSBC.
Portfolio manager at HSBC Asset Management in London, Nicholas Dowell, described the metaverse as the next stage in the development of the internet.
HBAR Foundation Launched a $250M Metaverse Fund to Boost Consumer Brand
As per reports, the foundation will be focusing its efforts across four sectors – the collectibles market, blockchain gaming, institutional metaverse products, and sporting experiences.
The first recipient of the fund is Sayl, an owner relationship management (ORM) platform offering solutions that strengthen the commercial interaction between brands and consumers through the integration of Web3 mechanics.
Sayl’s current customer relationship management (CRM) offering serves over 300 companies, including industry giants like L'oreal, Proctor and Gamble, and Brussels Airport.
Speaking to reporters, Alex Russman, the director of the metaverse fund at the HBAR Foundation, explained that his company sees “the potential of Web3, so are integrating NFTs and tokens into that offering, being that hand-hold service that allows a large enterprise to understand how tokens relate and fit into their business.”
LEGO Teams up With Epic Games on Kid-friendly Metaverse Initiative
“The LEGO Group has captivated the imagination of children and adults through creative play for nearly a century, and we are excited to come together to build a space in the metaverse that’s fun, entertaining, and made for kids and families.”
Both companies have agreed to three principles to guide their developments within the metaverse:
“Protect children’s right to play by making safety and wellbeing a priority, safeguard children’s privacy by putting their best interests first, empower children and adults with tools that give them control over their digital experience.”
CEO of The LEGO Group, Niels B Christiansen said:
“We believe there is huge potential for them to develop life-long skills such as creativity, collaboration and communication through digital experiences. But we have a responsibility to make them safe, inspiring and beneficial for all.”
LawCity.Com Unveils First Legal District in the Metaverse
Last week, LawCity.Com announced the launch of the first legal district in the metaverse, starting with the building of its first towers in LawCity.com, Decentraland.
The company, which aims to provide boundless access to legal help in the metaverse, is the brainchild of a community of pioneers in the legal industry. Richard Grungo, Jr., a founder of LawCity.com, said:
“LawCity.Com was created to provide access to the law through another channel of communication […] We realized we could create a ‘legal town square’ in the metaverse where law firms and law-related companies could establish their metaverse presence and where prospective clients could visit to learn about their legal issues and perhaps find assistance with those issues.”
Interestingly, LawCity has already constructed and leased portions of two towers – the Unitas Tower and the Veritas Tower. Plans are on the way for a third tower, known as the Caritas Tower. It will be donated to law-related legal aid and charity services. Grungo added:
“LawCity.com is focused on helping charitable organizations enter this new world, and to capitalize on this new avenue of exposure and fundraising so they can continue making a difference in the lives of people they serve.”
It appears the initiative is targeted at law firms looking to set up shop in the metaverse. Such companies can have their virtual offices built within 24 hours of joining the platform. That being said, there are currently two options for office space – a branded office or a prime anchor space. Both options will have access to LawCity events, listings in the company’s legal metaverse director, as well as event spaces for use.
“We believe LawCity.Com will increase the rate at which law-related companies establish their metaverse offices, and the rate at which prospective legal clients seek out services in the metaverse,” said William A. Colarulo, Jr., a founding partner at LawCity.Com. He added:
“By providing companies a turnkey solution for opening their metaverse offices, and creating what is essentially the first legal search engine in the metaverse, we believe LawCity.Com and its legal district concept will provide law-related companies boundless possibilities for building their presence in the metaverse—and will provide people in need of legal assistance with another avenue for finding help.”
Ledger Buys Land in The Sandbox, Intensifies Metaverse Push to Educate Crypto Newbies
Despite being a relatively old-school player in the crypto industry, the hardware wallet provider, Ledger, has decided to jump on the metaverse bandwagon. The company announced a partnership with The Sandbox at the Non-Fungible Conference in Lisbon, last Tuesday.
The deal will see the two companies work together on educational content for new users in the metaverse. A spokesperson for Ledger said:
“The partnership will empower The Sandbox’s 2.2 million registered users with essential security, support, and best practices, as well as engage Ledger’s millions of users in over 180 countries to secure their metaverse holdings.”
According to Ledger founder and Chief Experience Officer Ian Rogers, in addition to being useful, educating new crypto users is good business.
“If you really do your homework in crypto, then you start to learn about self custody, then you learn you need a hardware wallet, and once you learn that you choose Ledger because it’s the best,” he said. “So people get more educated, and—boom!—they become a Ledger customer.”
As for its metaverse land acquisition, Ledger purchased 36 tracts of LAND in The Sandbox. It will create several play-to-earn educational games in the virtual world.
Want a Virtual Drink? Well, Coca-Cola Is Now in the Metaverse
On Monday, Coca-Cola announced the launch of a gaming-inspire version of its fizzy pop virtually. The US drinks giant said that Coca-Cola Zero Sugar Byte will “bring the flavor of pixels to life.”
Meanwhile, Coca-Cola has teamed up with gaming company PWR to create Pixel Point, a custom island deployed in Fortnite Creative.
Users who enter Pixel Point can have a taste of the new drink’s flavor virtually, as well as try out coke-themed mini-games.
“Just as pixels power digital connection, Coca-Cola Zero Sugar Byte brings people together to share moments of Real Magic.”
The new flavor will be available in US stores in May, with no word yet on when a UK launch will happen.
As for the taste of the virtual soda, Coca-Cola describes it as “transcending the digital and physical worlds.” The company’s Oana Vlad said:
“We wanted to create an innovative taste inspired by the playfulness of pixels, rooted in the experiences that gaming makes possible.”