A ‘very ambitious’ $100M Metaverse R&D hub is being built in Melbourne

Thailand based metaverse startup Translucia Global Innovation has partnered with the Australian software development firm Two Bulls and set aside an initial budget of $100 million to build a Metaverse Research and Development Center (MRDC) in Melbourne. Translucia is a subsidiary of art and entertainment company T&B Media Global which in October 2021 launched its … Read more

Colombian Financial Superintendence Prepares Norms for Crypto Transactions – Regulation Bitcoin News

The Colombian Financial Superintendence, the securities and financial watchdog of the country, is working on a document to regulate the transactions and operations made using cryptocurrency assets in the country. The organization announced that it will present the document in the coming weeks, which will issue norms for the treatment of these assets in the … Read more

Metaverse could be worth $5 trillion by 2030: McKinsey report

Global spending in the metaverse could reach $5 trillion by 2030, according to a new report from international consulting firm McKinsey & Company.  Published yesterday, the 77-page report titled “Value Creation in the Metaverse” analyzed current adoption trends and drew additional insight from two global surveys; one gathered data from 3,104 consumers across 11 countries, … Read more

Russia Developing Sandbox for Cross-border Crypto Payments – Bitcoin News

An institute facilitating Russian exports is now working on the establishment of a sandbox for international crypto payments, local media reported. The goal is to identify potential regulatory and technological challenges for settlements with digital assets. Russia Prepares to Test Crypto Payments for Exports in Dedicated Sandbox The Russian Export Center (REC), which is a … Read more

Pride in the Metaverse: Blockchain tech creates new opportunities for LGBTQ+ people

A number of social gatherings have started to take place in the Metaverse as companies across the globe begin to understand the value that virtual interactive environments can have for consumers. It shouldn’t come as a surprise then that Pride Month — a month-long celebration held in June to commemorate the 1969 Stonewall Riots — … Read more

Digital identity in the Metaverse will be represented by avatars with utility

The Metaverse is poised to become tech’s next trillion-dollar opportunity, as an increasing number of companies are showing interest in immersive virtual spaces that will allow consumers to go beyond what’s possible in real life. This was highlighted in a recent report from CB Insights, which found that the Metaverse will disrupt at least 13 … Read more