In the rapidly evolving landscape of the Metaverse, a realm teeming with boundless opportunities and uncharted potential, companies across industries are fervently vying for a foothold in this digital frontier. Among these trailblazers, Adidas has emerged as a notable protagonist, deftly orchestrating a consumer-centric, product-based strategy that ingeniously navigates the contours of the Metaverse to foster a virtual connection with its global audience. 

As the Metaverse phenomenon continues to gather momentum, [Adidas](https://www.adidas.com/metaverse) is poised to capitalise on this burgeoning landscape, and at the epicentre of its digital endeavour lies the introduction of groundbreaking NFTs, widely known as "Adidas Metaverse". 

## The Adidas Metaverse journey 

This transformative journey for Adidas commenced in February 2021, a watershed moment that heralded the brand's initial entry into the Metaverse. Since its first steps, Adidas has charted an impressive trajectory, marked by progressive milestones and innovative ventures illuminating the brand's commitment to digital exploration. 

A pivotal chapter unfolded with the much-anticipated release of the first-ever Adidas NFT collection, a collaboration that seamlessly united the creative forces of esteemed entities, including the illustrious Bored Ape Yacht Club, the visionary Gmoney, and the ingenious PUNKS comic team. 

The culmination of this collaboration yielded an NFT drop of monumental proportions, titled "Into the Metaverse". This visionary collection debuted on December 17, 2021, attracting attention from enthusiasts and collectors. Owners of these coveted NFTs gained coveted access to an array of Adidas Originals events, exclusive merchandise releases, and an immersive tapestry of experiences meticulously curated to satiate the appetite of Metaverse aficionados. 

## Digital keys 

Yet, the allure of the Adidas Metaverse extends far beyond the realm of mere exclusivity. It pivots on the conceptualisation of NFTs as digital keys, each unlocking a gateway to a multidimensional realm rife with novel encounters and bespoke advantages. At the heart of this digital domain lies an intricate tapestry of collaborative products, seamlessly fusing cutting-edge technology with artistic ingenuity. 

Virtual wearables tailored to grace avatars within the virtual expanse are among the array of enticements offered, each meticulously crafted to resonate with the tastes of Metaverse denizens. 

The tangible manifestations range from the comfort of stylish sweatshirts and trendy tracksuits to the emblematic orange beanie synonymous with Gmoney's signature aesthetic. These artifacts bear the indelible insignias of the three innovative partners, underscoring the synergy that underpins this landmark collaboration. 

## NFT success 

The resounding success of the Adidas Metaverse collaboration reverberated across the digital landscape, culminating in a staggering financial triumph that saw Adidas amass $22 million in revenue. A testament to the brand's unwavering dedication to the Metaverse narrative, Adidas further fortified its digital stake by acquiring a prized Bored Ape NFT, christened Indigo Hertz, which subsequently assumed a central role in the brand's high-profile promotional campaigns surrounding the FIFA World Cup. 

This strategic move served as a poignant reminder of Adidas' astute comprehension of the pivotal role NFTs occupy within the Metaverse. 

## Adidas Metaverse story continues 

The Adidas Metaverse journey continues. The introduction of a curated collection of virtual wearables underscored the brand's resolute commitment to the digital avatar setting, each item meticulously designed to resonate within the evolving Metaverse. 

This collection, which took centre stage at [Decentraland's prestigious Metaverse Fashion Week](/news/article/metaverse-fashion-week), invited enthusiasts to partake in an immersive experience, complete with 3D digital twins that transcend the confines of the virtual realm, bridging the gap between imagination and reality. 

The Adidas Metaverse serves as a microcosm of a broader corporate landscape in the throes of digital transformation. The chronicles of the Adidas Metaverse expedition commenced with the unveiling of a maiden NFT collection, a collaboration that harmoniously melded the creative tapestries of [BAYC](https://boredapeyachtclub.com/#/), Gmoney, and Punks. 

This watershed moment offered just a glimpse into the Adidas Metaverse plan, a vision that extends beyond virtual wearables, encompassing strategic investments within the Sandbox Metaverse, and myriad avenues that collectively manifest a robust blueprint for long-term Metaverse ascendancy. 

At the helm of the Adidas Metaverse voyage was a dedicated team diligently entrusted with sculpting pioneering Metaverse narratives. Erika Wykes-Sneyd, Adidas Originals' Vice President of Global Marketing and Communications, steered the brand toward uncharted digital horizons. 

Amid the Metaverse evolution, Adidas has staked its claim within the[ Sandbox Metaverse](/news/article/how-to-buy-land-in-metaverse-worlds), christening its virtual enclave "adiVerse". The landscapes of this digital domain conjure tantalising visions of interactive showcases, immersive games, and a veritable pantheon of exclusive Adidas digital creations poised to transcend the boundaries of imagination. 

## More than a concept 

The Adidas Metaverse odyssey extends beyond the realms of mere concept, materialising in the form of virtual wearables. It fuses cutting-edge technology and sartorial elegance, seamlessly traversing the realm of physicality into the digital avatar cosmos. The inclusion of this innovative collection within Decentraland's Metaverse Fashion Week augmented the brand's position in the convergence of fashion and technology. 

As the Metaverse continues its expansion, a panorama of possibilities unfurls, beckoning corporations and visionaries to forge partnerships in the digital realm. The Adidas Metaverse narrative serves as an emblematic testament to innovation, adaptation, and evolution that underpins the ethos of global enterprises as they embrace the Metaverse. 

Adidas Metaverse Explained 

As the race to advance artificial intelligence technology intensifies, industry titans have sounded the alarm about the potential perils of unchecked development and access. In stark contrast to this cautionary chorus, Meta has taken an audacious step in its [AI strategy](https://ai.meta.com/about/). 

[Mark Zuckerberg](/news/tag/markzuckerberg), the Meta Chief Executive, made waves in July by unveiling an unorthodox plan: granting developers and software enthusiasts open access to the foundational code of its state-of-the-art AI technology, free of charge. 

This contrasts with the restraint called for by many other tech businesses. However, this unconventional path may carry the potential to reshape the competitive landscape by reining in rivals like Google and Microsoft. These industry behemoths have been swift in integrating generative artificial intelligence, the bedrock of innovations like OpenAI's renowned ChatGPT chatbot, into their offerings. 

## Meta AI February giveaway 

The company set a precedent in February by introducing the initial iteration of LLaMA (Large Language Model Meta AI). This preliminary release was primarily targeted at academic institutions, government researchers, and other inquisitive minds. 

The novel twist lay in the accessibility offered to download LLaMA, post-training on colossal troves of digital text. This was no mean feat, considering the substantial computational and financial investments required to process and refine such copious data sets. 

However, Meta's gambit did not escape controversy. After the limited dissemination of Meta AI technology among a select group of academics, a leak ensued, eventually exposing the technology to the public domain and sparking vigorous debate. 

## The latest Meta AI 

Unveiled in July, the latest Meta AI builds upon its predecessor, wielding a staggering 40% increase in data utilisation. Meta not only released its advanced AI iteration, but also provided a comprehensive roadmap showing developers how to harness and optimise the vast repository of accumulated data. 

Meta AI tech is "open source", facilitating unfettered access to the core code. Termed LLaMA 2, this technology encapsulates the essential building blocks required to construct online chatbots akin to the illustrious [ChatGPT](https://chat.openai.com/auth/login). What distinguishes this development is Meta's decision to release LLaMA 2 in a way that empowers developers to harness the potential of Meta AI for entrepreneurial ventures for free. 

As AI capabilities expand, so do concerns about misuse. There is a palpable apprehension among researchers that generative AI could serve as an accelerant for disinformation and spam. Despite this, Meta remains steadfast that promoting diversity and inclusivity in the experimentation process yields the most favourable outcomes. 

While this perspective has been widely upheld by AI researchers, a paradigm shift has been brewing over the past year. Industry giants like Google and [Microsoft](/news/article/microsoft-crypto-mining-ban-cloud-services) have restricted access to cutting-edge AI technology. Critics argue that such measures may also inadvertently stifle potential competition. In direct contrast, Meta argues that disseminating its ongoing work contributes to a broader collective good. 

## The Meta AI source 

The operational essence of these models revolves around the acquisition of skills through the ingestion of prodigious volumes of digital text, spanning domains from scholarly encyclopaedias to dynamic online discourse. By discerning intricate patterns within the textual tapestry, these models attain the ability to autonomously generate text across diverse domains, encompassing everything from scholarly papers to lyrical poetry. They can even hold coherent conversations, blurring the lines between human and AI interaction. 

Meta's journey into open-source AI is marked by collaboration, not isolation. In a notable partnership, Meta aligns with Microsoft to actualise the open-source potential of LLaMA 2. Microsoft's Azure cloud services provide the foundation, fostering a spirit of communal innovation. Furthermore, accessibility to LLaMA 2 is not confined to Microsoft's sphere alone; it extends to other providers like Amazon Web Services and the innovative HuggingFace. 

## Open-source AI 

Meta is not the sole torchbearer of the open-source AI movement. The Technology Innovation Institute, for instance, has unveiled Falcon LLM, a manifestation of the open-source ethos, by offering unrestricted access to its codebase this year. Mosaic ML, another protagonist in this landscape, contributes to the open-source ecosystem by provisioning software tailored for training large language models. 

While Meta's approach is founded upon a robust belief in the positive potential of open access, the company exercises prudence in its implementation. The release of LLaMA 2 underwent meticulous scrutiny through "Red Team" assessments, a practice aimed at unveiling potential misuse and instituting safeguards against such occurrences. 

A responsible-use guide outlining best practices and guidelines for developers navigating the AI realm accompanies the release. 

## Getting the balance right 

The company will also release a responsible-use guide containing best practices and guidelines for developers who wish to build programs using the code. 

But these tests and guidelines apply to only one of the models that Meta is releasing, which will be trained and fine-tuned in a way that contains guardrails and inhibits misuse. Developers can also use the code to create chatbots and programs without guardrails, a move that sceptics see as a risk. 

Meta's decision to provide unfettered access to its AI technology at no cost could reshape the AI landscape. This unorthodox move could drive innovation while raising concerns about the potential for misuse. As the trajectory unfolds, Meta navigates a nuanced balance between openness and responsible stewardship. 

Meta AI for free – a good idea? 

It may still be in its infancy, but the[ Metaverse](/news/article/metaverse-vr-project-guide) is emerging as the new frontier for any industry, including clothing, interested in connecting with its customers in new ways. A recent [McKinsey study](https://www.mckinsey.com/~/media/mckinsey/business%20functions/marketing%20and%20sales/our%20insights/value%20creation%20in%20the%20metaverse/Value-creation-in-the-metaverse.pdf) indicated that 59% of consumers were excited about exploring the transition of everyday activities to the Metaverse. 

Brands in the fashion industry have joined others in exploring technological boundaries to offer consumers a virtual shopping experience where they immerse themselves in never-seen-before shopping experiences.  

## The emerging virtual retail experience 

As the younger generations adopt Augmented Reality (AR) and its offer of utilities and use cases beyond work, play, and entertainment, fashion brands are responding with Metaverse clothing. The emerging Metaverse offers a platform for brands to connect with customers through personalized shopping experiences or hosted virtual events. 

High-end retailers are using the virtual world as a chance to display limited-edition fashion products users can't find in the physical world besides transporting viewers into the designers' world. 

## Target demographic for Metaverse clothing 

In integrating metaverse clothing, the fashion industry targets a generation that thrives on time spent online, using avatars in virtual worlds where they can express themselves fully. 

Studies have shown that members of Generation Z, aka Gen Z, spend an average of [eight hours online](https://99firms.com/blog/generation-z-statistics/#gref) daily, twice as much as socializing in real life. Personal expression, the ability to freely express thoughts and opinions, is essential to Gen Z, and fashion is one of the ways they express themselves. Since this desire carries over into digital life, fashion brands are establishing their presence in the Metaverse, where users can use a virtual product to self-express in a virtual world using a virtual persona.   

## Users' experience of Metaverse fashion 

Modern mid to high-end smartphones have an optical feature featuring high-definition optics integrating 3D scanning, allowing them to reproduce pictures as avatars digitally. 

While the feature is still under development and can't yet allow an overlap between real and virtual bodies, it can identify issues like tightness and show how a garnet fits when it's worn. 

3D virtual clothing technology enables users to overlap dresses they buy digitally over their pictures. You can buy a Ralph Lauren dress for $10 – a mind-blowing price compared to the actual real-world prices of Ralph Laurens. Moreover, Metaverse clothing can be grander than reality since people wear more than clothes in the Metaverse; they wear their imagination.  

Having realized the massive potential of the leverage between Metaverse and fashion, various industry giants have already made the intelligent move, where they're testing, exploring, and harnessing the potential impact of Metaverse fashion. Among the brands already leveraging the Metaverse opportunities are Burberry, Gucci, [Louis Vuitton](/news/article/louis-vuitton-nft-review), Balenciaga, Ralph Lauren, Dolce & Gabbana, and Zara. 

## How Metaverse clothing is transforming fashion 

Integrating Metaverse and fashion is revolutionizing how we experience fashion by introducing new ways brands showcase products, engage with customers and generate revenue. The following are three new ways Metaverse clothing is impacting the fashion industry:  

### 1.   Virtual fashion shows 

Brands now use virtual fashion shows to create 3D immersive experiences to engage with their customers. The Metaverse-based shows are more inclusive as they allow virtual customers from anywhere worldwide to experience the events in real time. The brands incur lower costs hosting high-end fashion events since they no longer have to hire out expensive venues, while attendees don't have to incur travel and accommodation expenses.  

### 2.   NFTs in fashion 

Non-fungible tokens (NFTs) are digital collectibles that have become a new revenue stream for leading fashion brands. By introducing NFTs in fashion, developers have introduced authentic and unique digital creations users can own, trade, and sell like physical collectibles. 

The creation of limited-edition NFTs tied to physical fashion items enables customers to relate with their favorite brands. Designers and brands are thus shifting the way admirers experience fashion. In some instances, they make millions of dollars selling some of these digital assets.  

### 3.   Virtual dressing rooms 

Virtual dressing rooms are the future of Metaverse clothing as they enable potential customers to fit new clothes in an immersive virtual environment, thereby introducing a 3D interactive shopping experience. 

Virtual dressing rooms promote metaverse e-commerce by reducing the risk of any returns since the potential buyer will see precisely how clothing fits before purchasing. Moreover, virtual dressing rooms are more sustainable than brick-and-mortar dressing rooms by reducing the waste associated with the fashion industry. The Metaverse enables users to test[ NFT](/news/article/are-nfts-dead-investigation) wearables using their avatars, engaging them via an immersive and gamified experience.   

## The future of fashion 

The merge between Metaverse and fashion is already having a massive impact on the fashion industry as Metaverse clothing skyrockets the fashion world into new levels of reality that eliminate the bands of physical limitations. Integrating augmented reality and artificial intelligence has produced endless potential for fashion brands that want to leverage the virtual world. 

The emerging technology facilitates 360-degree views of virtual avatar models walking on [3D virtual fashion runways](https://fashionunited.com/news/fashion/the-future-is-here-the-3d-virtual-fashion-show/2020060433845) to showcase their seasonal collections through online showrooms. The Metaverse clothing journey began, and there's a bright future ahead. However, the technology must become accessible to everyone, or it will remain a distant dream within the fashion industry. 

How Metaverse clothing is revolutionizing fashion 

The raving AI boom of 2023 has capped the hype for Metaverse tech. Many critics even [wrote obituaries](https://www.businessinsider.com/metaverse-dead-obituary-facebook-mark-zuckerberg-tech-fad-ai-chatgpt-2023-5) for Mark Zuckerberg’s idea of a virtual world. Amid this, you might wonder whether Metaverse is dead, and if not, then who are leading the Metaverse companies? 

So to clear your doubts, here we have curated a list of seven leading Metaverse companies. The list has some big tech names that suggest the concept behind the virtual world isn't going anywhere anytime soon. So, let's get you started! 

## 7 Metaverse companies you must know about 

Here are the seven Metaverse companies you need to know about. 

### Meta Platforms Inc. 

[Meta Platforms Inc](https://investor.fb.com/home/default.aspx). became a global leader in the Metaverse industry when it rebranded itself in 2021. The name 'Meta' symbolises the company's focus on building a 3D virtual world. Meta's CEO, Mark Zukerberg's announcement of this shift spurred global hype for the idea of virtual worlds, and many businesses and tech giants started exploring it. 

Meanwhile, the company has invested more than [$36 billion](https://www.businessinsider.com/charts-meta-metaverse-spending-losses-reality-labs-vr-mark-zuckerberg-2022-10) into Metaverse-related projects. It focuses on developing advanced devices for augmented reality (AR) and virtual reality [(VR](/news/article/metaverse-vr-project-guide)). Also, Meta is creating a supporting environment for developers to experiment with new ideas.  

The most impactful development towards creating immersive experiences is its AR/VR products like Meta Quest 2 and Meta Quest Pro. Plus, it has also introduced the Meta Horizon Worlds for 3D games.  

### Alphabet Inc. 

Another leading name among Metaverse companies is [Alphabet Inc](https://abc.xyz/)., one of the largest tech businesses. It is Google's parent company, which began investing in AR/VR tech in 2014 with its Google Glass project. However, due to the lack of awareness about Metaverse back then, the project was not a success. 

Nevertheless, Alphabet Inc. again started to invest heavily in related tech after the concept of Metaverse gained traction in 2021. According to some sources, Google has infused around $39.5 million to acquire numerous related projects. For instance, it acquired North, a smart glasses company, and Raxium, a microLED startup. 

Alphabet has also started working on its Google Metaverse. Although it is unclear what this 3D world will be like, various projects in the pipeline hint at what it will feature. These projects include Project Iris, Starline, [ARCore](https://developers.google.com/ar), and the integration of AR in various of its offerings. 

### Roblox Corporation 

[Roblox](https://www.roblox.com/) is a leading online gaming platform where anyone can design their own games. The platform allows you to create your own virtual spaces and [Metaverse games](/news/article/metaverse-games). You can also monetise your games by allowing others to play them and buy in-game accessories. Due to these features, Roblox makes an ideal platform for immersive experiences. 

The gaming platform currently has more than 50 million daily active users. Besides, a community of around 9.5 million developers supports it, creating new experiences and shaping an immersive realm. That's why Roblox is a veteran among Metaverse companies. 

## Nvidia 

Nvidia is another tech giant that recently made headlines as it crossed the $1 trillion mark. The firm is renowned for designing the fastest chips that support artificial intelligence (AI) computing systems. However, Nvidia has a strong foothold in the Metaverse industry, too.  

In September 2022, the firm launched its unique infrastructure as a service called [NVIDIA Omniverse Cloud](https://www.nvidia.com/en-us/omniverse/). It is a cloud services suite for developers and creators that allows them to create 3D simulations. Many leading firms like PepsiCo, Siemens, Amazon, WPP, and others developed their own experiences using Omniverse.  

## Microsoft Corporation 

[Microsoft Corporation](https://www.microsoft.com/en-pk) is yet another big contender among Metaverse companies. The firm is strategically working on building both AR/VR devices and immersive environments. Meanwhile, it has also acquired the gaming firm Activision Blizzard via a $70 billion deal which may allow it to develop 3D gaming experiences.  

One of Microsoft’s breakthrough hardware is its [Hololens ](https://www.microsoft.com/en-us/hololens)series, which are Windows-based mixed-reality glasses. The company claims these glasses can enhance workers' productivity in many industries, including education, healthcare, manufacturing, and others. 

Microsoft Mesh is another project that is another step towards developing interactive 3D simulations. It is blended with Microsoft Teams and allows for more engaging collaborations. It shows that the Microsoft Metaverse will specifically focus on designing a virtual world that offers interactive workspaces.  

Microsoft Corporation also [partnered up](https://blogs.microsoft.com/blog/2022/10/11/microsoft-and-meta-partner-to-deliver-immersive-experiences-for-the-future-of-work-and-play/) with Meta Platforms in 2022. This partnership may lead to the introduction of [Mesh](https://www.microsoft.com/en-us/mesh) into Meta Quest devices. 

## Epic Games  

The American video game giant, [Epic Games](/news/article/epic-games-nft), is also looking to advance its Metaverse initiatives. The firm is renowned for its Fortnite game and Unreal Engine, which offers an infrastructure for game developers.  

Epic Games invested more than $31.5 million in its 3D virtual world in 2022. The firms like Kirkbi, Sony Group Corporations, and others helped Epic Games raise this fund. According to its CEO Tim Sweeney, the firm plans to use it to create interactive spaces for players and offer developers a platform where they can be creative.  

## Apple 

[Apple Inc](/news/article/apple-crypto-and-nft-rules). needs no introduction as it is the largest tech company in the world, with a net worth of around $3 trillion. In the last couple of years, the company started to explore Metaverse by throwing its weight behind VR headset tech.  

Interestingly, the company has even launched its VR goggles called Vision Pro at a time when the Metaverse hype has faded. Although Vision Pro has yet to be received well in the market, VR tech designed by Apple puts weightage behind this emerging tech.   

## Final thoughts 

Metaverse may not be as big a trend as in 2021, but it is gradually taking shape. Many Metaverse companies are investing heavily directly or indirectly in various related projects. These companies involve some of the big techs like Meta, Google, Apple, and Microsoft. 

Various [video gaming platforms](/news/article/what-is-gamefi) like Epic Games and Roblox are also interested in creating 3D spaces. All these facts mean we are moving towards a world with both physical and digital realities. 

person using a VR headset to use metaverse

7 Metaverse companies you should keep an eye on 

The fashion industry is among the earliest endorsers of [Metaverse tech](/news/article/what-is-the-metaverse), embracing its related technologies in various ways in recent years, including Metaverse Fashion Week. It allows fashion brands to interact with their customers in a more engaging manner. They can now introduce Web3 games, clothing NFTs, immersive shopping, and more to increase customer engagement. 

Metaverse also paved the way for [virtual fashion shows](/news/article/queens-of-the-metaverse). One such event was organised by Decentraland is the [Metaverse Fashion Week](https://mvfw.org/). Let's explore what it was all about and how brands participated. 

## What is Metaverse Fashion Week (MVFW)? 

One of the leading decentralised Metaverse platforms, [Decentraland](https://decentraland.org/), introduced a unique fashion event in 2022. It is an annual event that celebrates creativity in the fashion industry by showcasing digital wearables in virtual spaces. Famous designers and brands from the global fashion scene take part in it and exhibit their unique collections in their virtual stores.  

MVFW is a one-of-a-kind immersive show that connects multiple Metaverses so that a wider audience can enjoy it. The event extends over four days that includes various fun activities for fashionistas. Aside from the runway shows, the MVFW covers informative panel discussions, shopping in 3D virtual stores, immersive games, afterparties, and more.  

The inaugural MVFW took place from 24 to 27 March 2022. The show returned this year and was held from 28 to 31 March.  

## Metaverse Fashion Week 2023 (MVFW23) 

This year the MVFW event was primarily hosted by Decentraland. But since the organisers focused on interoperability, it also featured on two other Metaverses; Spatial and Over. The first one is a Metaverse platform specifically built for brands, where they can sell their products in a creative way. The second is an innovative decentralised Metaverse layer. It allows you to work with augmented reality to display objects in the physical world. 

The fashion week featured all the renowned brands like Coach, Tommy Hilfiger, Adidas, Dolce & Gabbana, Balenciaga, and others. The four days were packed with various runway shows, parties, and panel discussions. Aside from that, there were other fun events like theatres, guided tours, yoga sessions, fashion operas, exhibitions, and whatnot. According to Decentraland, there were more than 120 events in the week.  

The map of the event featured a new architecture named Neo Plaza, from where you could begin exploring different events in MVFW. It included virtual stores of all the brands that participated in the event. All the catwalk shows took place in the Luxury District. 

## Highlights from the MVFW23  

Here are some of the major highlights from Decentraland's virtual fashion show: 

- Metaverse interoperability was a first at the event, showing how multiple Metaverses can offer similar experiences simultaneously. However, it did not allow the users to go from one platform to another with the same avatar.  

- Around 26,000 users attended the MVFW23 event, as per Decentraland. The firm also claimed that around 50% of these users entered its Metaverse for the first time. 

- Neo Plaza was a new addition to this year's event, and users could enjoy a guided tour of the Plaza to explore the virtual spaces and experiences from different brands. 

- You can shop digital assets from the DCL Marketplace through your debit/credit card via Tansak.  

- More than 60 global brands participated in the MVFW23 and created numerous interactive experiences for their customers. 

- Decentraland also claimed that during the span of the event, around 72,000 sessions were logged in.  

- The virtual fashion week featured the first opera show in a 3D virtual world. 

## Decentraland users’ lack of interest in the MVFW23 

Even though the event was quite successful for the brands as they created innovative spaces, games, and experiences to engage with their customers. However, the number of users who joined the event was much lower compared to last year.  

A Metaverse analytical firm, GEEIQ, studied that the number of users dropped massively this year by 92%. According to the firm, only 9,000 unique users entered Decentraland's MVFW23. However, in 2022 a total of 108,000 users explored the events. One of the prominent reasons behind it is the declining hype for Metaverse.  

In March 2022, more people were intrigued by Meta’s idea of a digital world. But now the dynamics are different as Meta and other Metaverse companies have not had any significant breakthroughs. Besides, a new tech trend, AI, has stolen the limelight from Metaverse in 2023. Therefore, the masses are not as involved in 3D worlds as before. 

## Final thoughts 

Decentraland’s MVFW is an innovative annual festival for global fashionistas. It offers leading brands a platform to showcase their digital assets in an intriguing way. It also allows them to enhance customer experiences by offering immersive shopping stores and many fun activities.  

In 2023, Metaverse Fashion Week introduced unique features like interoperability, distinctive architectures, and special events. These features can be the stepping stones for the future of Metaverses and the fashion industry. 

Pink metaverse fashion week website and model

Exploring the Metaverse Fashion Week 2023 

The fashion industry has embraced the virtual world with remarkable success in the modern era. Before the Queens of the Metaverse event, renowned brands such as Gucci, [Louis Vuitton](/news/article/louis-vuitton-nft-review), Balenciaga, Dolce & Gabbana, and others had demonstrated how fashion can flourish in the digital realm. The convergence of technology and fashion is opening up new avenues for innovation and creativity. 

Meta (previously known as Facebook) organized a unique virtual drag show in London last year. This article aims to delve into the details of this event, exploring what it entailed and whether Mark Zuckerberg's vision of[ the Metaverse](/news/article/what-is-the-metaverse) lived up to its considerable hype. 

## Queens of the Metaverse - What is it? 

![screenshot from Queens Of The Metaverse competition](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_07_06_at_16_16_20_b7c1aa4a9f.png)

[Queens of the Metaverse](https://about.fb.com/news/2022/09/queens-of-the-metaverse-the-first-ever-mixed-reality-drag-show/) was the first drag show in the Metaverse using mixed reality. The virtual drag show was powered by Meta and held on 8 September, 2022, in London. It featured emerging digital fashion designers who used virtual reality (VR) and augmented reality (AR) to design garments. The show also aimed to promote queer creativity. 

The show aimed to showcase how VR and AR can help create immersive and interactive experiences. For this reason, the designers opted for tools such as digital avatars, virtual design technology, Horizon Workrooms, and others. They came up with three costume designs and then turned them into physical outfits.  

Three creative fashion designers were part of this virtual show. Nwora Emenike, Christie Lau, and Sal Mohammed were the designers, and they represented the LGBTQ+ community. Three drag artists wore their Metaverse-inspired outfits and walked on the ramp.  

## Drag queens on the virtual drag show 

The drag queens for Meta's show include three renowned names in fashion. They are:  

- Blu Hydrangea - They are the prizewinner of the "RuPaul's Drag Race: UK vs. The World" show and wore the costume designed by Nwora Emenike.  

- Tia Kofi - They are known for their pop music and appearance in season 2 of “RuPaul’s Drag Race: UK vs The World” show. 

- Adam All - A non-binary British drag king. They wore an outfit designed by Christie Lau. The outfit was a classic two-piece that depicted hyper-masculine features. 

Overall, the costumes of the drag queens on the show portrayed the themes of gender identity and expression. According to the designers, their experiences as members of queer community inspired these designs. Also, they noted that the [AR/VR tech ](/news/article/metaverse-vr-project-guide)and Metaverse provided them with a platform to experiment with their designs. 

## Meta’s Metaverse isn’t fully developed yet 

Although Meta's mixed reality drag show has created a new genre, Metaverse still has [a long way to go](https://www.independent.co.uk/voices/tia-kofi-queens-of-the-metaverse-drag-race-b2161623.html#comments-area). Meta shared a two-minute video clip of the show, which showed artists and designers expressing their opinions and experiences.  

Unfortunately, the video seemed too basic and did not depict how Metaverse tech is actually being used for the drag show. Besides, the use of AR and VR was far from what one would expect from a virtual world.  

The Independent published a piece by Tia Kofi where they wrote, “While it’s clear that the metaverse is in its early stages, I’ve been amazed by how prominent queer talent, creatives, designers, and technicians are in bringing their star power to its development.”  

So, even though the creativity of the drag acts and designers was notable, Meta’s Metaverse itself failed to leave a mark.     

## Final thoughts 

In today's digital age, the fashion industry is harnessing the power of new technologies to drive innovation. A notable example of this is Meta's mixed reality drag show in the Metaverse, which provided a platform for artists and designers from the LGBTQ+ community to showcase their creativity and self-expression. This event highlights the growing role of the Metaverse as a medium for fostering artistic expression and pushing the boundaries of creativity. 

purple image of drag queens in the metaverse

Queens of the Metaverse Explored 

The[ Gala app ](https://app.gala.games/)is a revolutionary mobile application designed to enhance your gaming experience while offering numerous benefits and rewards. This article will explore the app's features, advantages, and user feedback, ensuring you have the information you need to see if this app is right for you.

![gala app image with blue filter](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_06_06_at_11_16_16_e8cf3fbc5d.png)

## The Gala app: A hub of gaming and NFTs 

As you enter the app, you enter a dynamic realm where gaming and NFTs collide. This platform presents users with various captivating games, ranging from a Wild West battle royale to poker, fantasy RPGs, simulations, and puzzles. 

Each game is meticulously crafted to provide an engaging and immersive experience, catering to various preferences. 

## NFTs and limited edition collectibles 

One of the highlights of the app is its collection of limited-edition NFTs. These digital assets hold immense value and can be acquired within the app's marketplace. 

From rare land deeds to unique skins, the [Gala app ](/news/article/gala-crypto)offers a diverse selection of NFT game items, each with its rarity level. Owning these exclusive collectables allows users to showcase their individuality and stand out in the gaming community. 

## Features 

The app offers a plethora of features aimed at providing an engaging and rewarding gaming experience: 

- Wide Range of Games: The app offers games across different genres, catering to gamers with diverse preferences. 

- Player-Owned Assets: Users can buy, sell, and trade in-game assets, giving them complete control over their gaming experience. 

- Rewards and Incentives: Players can earn rewards, such as Gala tokens, by participating in games and completing specific tasks. 

- Community Building: The app fosters a strong community of gamers, allowing users to connect with others, form teams, and compete in events. 

- Secure and Transparent Environment: Using blockchain technology ensures the transparency of the gaming ecosystem and security of transactions. 

## Benefits and advantages of the Gala app 

The Gala app provides several benefits that set it apart from traditional gaming platforms: 

- Ownership: Players have complete ownership of their in-game assets. These can be traded or sold on the platform's marketplace. 

- Rewards: The app's reward system encourages users to engage more with the platform, offering tangible incentives for participation. 

- Decentralization: The app's decentralized nature ensures that no single entity controls the platform, promoting fairness and transparency in the gaming ecosystem. 

- Community Focus: The app emphasizes community building, allowing users to connect with like-minded gamers and participate in collaborative events. 

## Conclusion 

In conclusion, the Gala app offers a unique and engaging gaming experience that rewards players and empowers them with ownership of their in-game assets. 

Its decentralized nature and strong community focus set it apart from traditional gaming platforms. 

The Gala app might be the perfect fit if you're looking for a new gaming platform that provides more control and rewards. 

The Gala app: Revolutionizing gaming and NFTs 

Studying from a textbook and successfully grasping an abstract concept existing on the page is a tall order for most people. Concentrating and maintaining interest amid surrounding distractions is easier said than done. This article explores how immersive learning technologies that integrate Artificial Intelligence (AI), [Augmented Reality](/news/article/augmented-reality-tokens-explained) (AR), and [Virtual Reality ](/news/article/metaverse-vr-project-guide)(VR) are creating new learning experiences that can engage learners better and help them comprehend and retain knowledge better. 

## Beyond video games and virtual chat rooms 

You will likely have heard the term "metaverse", a buzzword in the tech industry that's heard investors and gamers scrambling to benefit from its potential. 

The metaverse has been popularized for significantly impacting the digital world, especially in commerce and entertainment. However, beyond the world of video games and virtual chat rooms, technology has the potential to revolutionize education in ways no one could have ever imagined. 

Metaverse learning leverages the power of augmented reality and virtual reality to “transport” teachers and students to virtual classrooms to unlock boundless immersive learning possibilities. The immersive 3D experience aims to close the widening gap in learning abilities in the typical learning environment by offering a more inclusive approach that enables all students to participate in a tailor-made virtual space. Research already shows the potential of immersive technologies in education, offering students and teachers new ways to succeed.   

## Potential benefits of Metaverse learning technologies 

### Enhanced student engagement 

The metaverse avails an immersive virtual experience through applications that make lessons tangible using 3D models of familiar physical-world settings. These experiences enable learning in a way that deepens the lessons in ways that stimulate students to become active participants. This hands-on approach takes the study beyond the brick-and-mortar walls and captivates students' attention while igniting curiosity. 

### Higher real-time experiences 

AR and VR technologies have matured rapidly and have supported applications in parties, concerts, and sporting events allowing attendees to participate from home. 

The metaverse is built on principles like decentralized audience interaction and real-time engagement, which is in sync. This engagement level is moving into educational platforms offering students and teachers a sense of physical engagement, enabling collaboration, and solving real-life problems virtually.  

### Better learning outcomes 

Educators are taking the cue from businesses and gaining on the positive aspects of VR-enabled training. According to a recent [PwC report](https://www.pwc.com/us/en/tech-effect/emerging-tech/virtual-reality-study.html), training via VR and AR can be four times faster, and learners are also four times more focused than when using the typical remote e-learning models. 

Moreover, the study found that VR learners were 275% more confident and emotionally connected to the training content than regular classroom learners. 

### More authentic academic achievements 

Metaverse leverages the full potential of [blockchain technology](/news/article/what-is-blockchain), the cog of the wheel of cryptocurrency systems, and the transparency it provides. Out of its many use cases, blockchain keeps time-stamped records of activities and transactions that cannot be altered. 

When applied to metaverse learning, blockchain will authenticate all certifications, leaving no opportunity for anyone to falsify academic achievements.     

## Conclusion 

Metaverse learning is no longer a pipe dream, and it's already opening new ways to learn and teach. The development of AR and VR technologies and their related applications are bridging an existing gap and creating more opportunities for learners and teachers beyond our imagination. 

purple image of people learning at school with person wearing a Vr headset

Transform Your Experience with Metaverse Learning 

Yuga Labs is a well-known NFT company that continues to dominate the non-fungible token space due to projects like Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC). 

The $4 billion-worth company made history in 2022 when it acquired Cryptopunks and Meebits from Larva Labs, cementing its position as the leading brand in the NFT space. It now has its eyes set on dominating the Metarverse. 

## The Metaverse 

Yuga Labs first ventured into the [Metaverse](/news/article/metaverse-coins-future) in March 2022 by launching Otherside, a 3D virtual world developed as an online multiplayer game. 

The Otherside, like many other Metaverse platforms, offers an immersive experience of a virtual world where users can build different experiences and interact with other users. 

The game features plots of land called Otherdeeds. They are dynamic NFTs that can change according to the activities of users. Users also interact with Kodas, unique beings that serve as the game's foundation. Their energy helps keep the universe from collapsing. Kodas are also non-fungible tokens. 

Users got to first experience the Otherside universe in July 2021. 4,500 players were ushered into the game and could interact with their characters, speak to each other using 3D audio, and hear all other players at once. 

In March 2023, 10,000 players again got a first-hand experience with the Otherside universe. According to players who participated in the first and second trips, the experience was the same. 

It is worth noting that when the company first tested its Metarverse ambitions in March 2022, it generated $320 million from selling 55,000 Otherdeeds NFTs. The secondary sale of the NFTs has so far generated more than $800 million. 

As of writing, the floor price of an Otherdeed NFT is 1.2849 ETH on [OpenSea](https://opensea.io/collection/otherdeed). They are available for purchase on the marketplace. 

## About the company 

It was founded in February 2021 by two friends who, for a while, were known by their pseudonyms of Gordon Goner and Gargamel. They were later revealed to be Greg Solano and Wylie Aronow. 

The two, together with other friends, worked to launch the [BAYC NFT ](/news/article/bayc-nft-suffered-from-ftx-crash)collection in April 2021. The non-fungible tokens entered the market with an initial floor price of 0.08ETH (about $240 at the time). As of writing, their current floor price is 52.3 ETH (more than $90k). 

On June 2021, they launched Bored Ape Kennel Club (BAKC). They then launched MAYC in August 2021. In 2022 they acquired the rights to Cryptopunks and Meebits, growing their NFT projects. 

In February, the company announced the launch of its first-ever Bitcoin-based NFT project, TwelveFold. The NFT collection, comprising 300 generative art pieces, went live in March and garnered $16.5 million. 

## Conclusion 

Considering the milestone Yuga Labs has made in the Metaverse realm, it might have the chance to dominate the space. However, it faces stiff competition from Facebook, Apple, Google, and Microsoft, companies working hard to build their own Metaverse. 

yuga labs logo on image of bayc bored ape nfts with pink filter

Yuga Labs is taking over the Metaverse 

Decentraland is a virtual reality platform built on Ethereum where users can create, experience, and monetize a variety of content and application. Its native currency is MANA. 

By offering a vibrant and expanding community of developers, creators, and users keen to explore the possibilities of the digital universe, this virtual world provides the opportunity to carve out your own corner and participate in the digital economy. 

[Decentraland ](/news/article/decentraland-crypto)came into existence in 2017 after an initial coin offering raised $24 million. After a series of closed Beta tests, the official public launch occurred in February 2020. Today, the platform remains a popular place for creatives to build online worlds that offer games, 3D environments, and a variety of interactive experiences. 

## Founders 

Decentraland was co-founded by blockchain entrepreneurs Ari Meilich and Esteban Ordano. Although neither founder is currently on the board of directors, they both continue to work alongside the project in an advisory capacity with the Decentraland Foundation. 

Both founders have long and varied careers in cryptocurrency development and continue to work, with Ordano responsible for both Smart Contract Solutions and Zeppelin Solutions. 

In addition to creating and building anything in a virtual world, Decentraland users have unbridled access to interactive applications, in-world payments, and peer-to-peer communications. This means that Decentraland can support various users, from entertainment to gamers to professional businesses and investors. 

Indeed, in early 2022 famed investment bank J.P. Morgan announced it was to open [a 'virtual lounge'](https://hypebeast.com/2022/2/jp-morgan-virtual-lounge-decentraland-first-bank-enter-metaverse) to capitalise on the anticipated $1 trillion worth of investment expected to come to the Metaverse in the next few years. 

## Governance 

This Metaverse is powered by two core components, LAND and Decentraland MANA, the native currency. 

LAND represents each parcel of cyber real estate and exists as an individual NFT. Decentraland MANA is primarily used to buy and sell virtual goods and services, and to vote on community governance. 

Decentraland MANA is an Ethereum-based ERC-20 token, which must be burned to obtain LAND ERC-721 NFT tokens. 

This unique environment is completely owned by its users, and, true to the blockchain ethos, the digital platform is governed by the Decentraland DAO (Decentralised Autonomous Organisation). This means that each community member has a say and influences the growth curve of the project. 

Decentraland MANA must be wrapped and converted into wMANA before users can commit the cryptocurrency to a vote. One wMANA equals one vote. MANA is easily purchased on various leading cryptocurrency exchanges. It can also be obtained by selling digital items in this online universe. 

The LAND token is used to distinguish real estate ownership and exists as an NFT on the Ethereum network in its own right. As with MANA, LAND can be used to secure voting rights. However, LAND does not need to be submitted to the[ DAO](/news/article/daomaker-guide). As you might expect, LAND is a powerful token to hold, with each coin representing 2,000 voting rights. 

LAND and Decentraland MANA tokens play a big part in the use of the platform. As a virtual world, Decentraland users can spend their tokens in whichever way they like and use the in-game marketplace to transact and transfer items bought and sold. Every transaction is conducted, regulated, and recorded on the Ethereum blockchain. 

## Virtual worlds 

This project is creating a digital ecosystem featuring almost every aspect of our everyday lives. One of the platform's biggest attractions is the ability to get involved in daily commercial or governmental life without leaving the comfort of your own home. 

The early vision was to provide a virtual world to anyone interested. However, it is now generally accepted that due to the prices of Decentraland MANA and LAND, barriers to entry can appear high for the average user. 

Players have total control and are allowed to vote on all in-game and organisational policies. While the original aim of the platform was to develop a form of decentralised virtual reality, many players believe that in its current form, Decentraland has turned into one large NFT market. 

Decentraland has been built in a three-layer structure using Ethereum smart contracts. The base-level consensus layer determines, tracks, and manages LAND ownership. The second layer deals with the actual content of the virtual world. Finally, the third layer - the real-time layer - deals with user interaction. 

The total game world, or Metaverse, is divided into 90,601 individual parcels of LAND. Each parcel is represented by an ERC-721, Ethereum-hosted NFT. Each LAND represents a square of 16m x 16m and has a unique identifier that records its location in the Metaverse. 

Although LAND owners are free to develop their plot in any way they choose, most of the environment falls into one of 39 districts, each with a unique name, size, and theme. At the time of writing, the [Aetheria Cyber Punk district](https://nftplazas.com/decentraland-districts/) is the largest, closely followed by the gambling district of Vegas City. 

## Tokenomics 

At the time of writing, some 1.8 billion Decentraland MANA tokens are in current circulation, representing 82% of the total supply of 2.19 billion. With a current price of $0.679, this gives Decentraland a market capitalisation of $1.259 billion. 

At launch, there were 2.8 billion Decentraland MANA tokens minted. However, due to burning due to LAND auctions, that figure has reduced by 22% to the number we have today. The circulation of MANA is managed further by another 2.5% burn of all tokens involved in marketplace transactions. 

As far as we know, 40% of MANA's total supply was sold during the initial coin offering (ICO) in 2017. A further 20% has been reserved for community incentives, and another 20% was given to developers and early contributors. Decentraland itself holds the remaining 20%. 

## Conclusion 

Decentraland has been built specifically for content creators, businesses, and individuals looking for a new artistic medium, business opportunities, and sources of income. 

The platform provides a creative outlet and allows many users to monetise their LAND through leasing arrangements that enable users to generate income in the virtual economy. 

The project represents the intersection of real and virtual worlds and is the oldest and biggest platform to do so. Once considered niche, virtual worlds and the Metaverse are slowly becoming the place to conduct business, socialise and shop as work-from-home policies and sky-high rents force consumers to rethink their approach to everyday life. 

As we become more familiar with the idea of the Metaverse, we are beginning to see a flow of real-world artists who want to showcase their talent in the virtual world. In April, Decentraland hosted Nashville singer/songwriter Jhett Black, who performed his [first show in the Metaverse](https://decentraland.org/). 

Decentraland is poised to benefit from the expected growth of the Metaverse and virtual worlds. Figures differ, but it is generally agreed that there will be massive value in the Metaverse and related platforms by 2030. The [World Economic Forum](https://www.weforum.org/events/the-growth-summit-jobs-and-opportunity-for-all-2023) projects a market worth in the region of $3 trillion by the end of the decade. 

As long as the team behind the project can continue to scale and onboard customers at the same rate as the first five years, there is no reason why this innovative platform cannot secure a significant portion of the industry for itself. 

decentraland mana token on green background

Decentraland MANA: Can it Live Up to the Hype?

Web3 games and Metaverse projects have taken the industry by storm. Some of the games driving the rise of blockchain gaming include Axie Infinity, Splinterlands, Alien Worlds, Crazy Defense Heroes, Sky Mavis, and The Sandbox. Not only have these games enabled players all over the world to make money, but they have also introduced innovative mechanics and partnerships. 

Similarly, Metaverse projects have piqued people's interest by introducing ingenious ways for users to interact with one another in 3D space.

As per a report released by the data acquisition and analysis company DappRadar, Web3-based games and Metaverse projects have [raised $748 million](https://beat.10ztalk.com/2022/09/12/web3-games-and-metaverse-projects-raised-748-million-in-august-report/) since August 1, 2022. 

Axie Infinity, one of the most popular games in the field, has surpassed $4 billion in all-time NFT sales, with approximately 36,000 new daily players joining in the last three months.

Despite the ongoing market downturn, blockchain-based games continue to garner attention. According to DappRadar, companies in that field and Metaverse projects have raised approximately $748 million since the beginning of August. This is a 135% increase over July but a 16% decrease from June's figures.

Gabriel Leydon, the founder of Machine Zone, made one of the largest investments of $200 million in Web3 games.

Temasek, a Singaporean investment firm, led the latest $100 million funding round for Animoca Brands to increase the company's exposure in the sector. 

Xterio, a cross-platform publisher and developer of high-quality mobile and web3 games secured a $40 million fundraising round. 

Last year, the gaming space raised around $4 billion. This figure has already been surpassed in 2022, with investments totalling around $7 billion. If current trends continue, the figure is expected to reach $10.2 billion by 2022.

## DappRadar July report

At the end of July this year, the firm determined that blockchain games and Metaverse projects appear to be faring much better than other industry segments during the crypto winter. 

According to the report, unique active wallets (UAWs) decreased by 7% in Q2 compared to the previous quarter. This meant that people were still interacting with blockchain decentralised applications at nearly the same rate as before the [Terra collapse](/news/article/terra-luna-collapse).


Web3 games and Metaverse projects raised $748M

[Enter the Metaverse London](https://techcircus.io/en/events/enter-the-metaverse-london-2) was an event that aimed to introduce a new world of digital to its attendees.

The event featured thought leaders and inspirational designers leading the audience through a technological paradigm shift. The event took place on 28-29 November 2022 and explored exciting developments in VR, AR, and regulatory and legal movements. It delved into the future of e-commerce and gaming in the [Metaverse](/news/article/how-to-buy-land-in-metaverse-worlds) and decentralised commerce.

One of the event's primary focuses was gaming in the Metaverse. 

According to the presenters, wherever gaming goes, innovation follows. A lot of the original innovations in hardware and software were spurred by video games, and [Web3](/news/article/uquid-web3-integrates-with-polygon) is no different. When it is made entertaining and rewarding to engage with new technology, more users adopt it. The event discussed how blockchain empowered players and developers and some exciting models in the gaming world. The panel also discussed significant technological advancements in the gaming industry.

## Introduction to emerging technologies

The occasion introduced its attendees to the latest developments in emerging technologies. These technologies are rapidly gaining traction and are poised to be a major part of the future, like [Augmented Reality](/news/article/augmented-reality-tokens-explained) (AR) overlays digital elements in the real world, enhancing the users' experience. Extended Reality (XR) combines VR and AR, delivering a more immersive experience. The event also explored haptic feedback suits, which allow users to feel like they are in the game.

The Metaverse is an exciting development that aims to create a fully immersive virtual world. It is poised to be the next big thing in e-commerce, and the event delved into its future. It is a shared virtual space where users can interact together in a 3D world. It provides endless possibilities for businesses to engage with customers and deliver immersive experiences.

The occasion featured various presenters, including the Chief Medical Metaverse Officer of AIMEDIS, Professor Shafi Ahmed, Co-Founder of The Sandbox, Sebastien Borget, Director Of Business Development - EMEA of Niantic, Sarah Burslem, CEO of Singularity.net, Ben Goertzel, Sophia the AI, and Blockchain Product Marketing Manager of EX-SHOPIFY, Nicole Sandford. The occasion included various panels, including Web 3.0, the Metaverse, the Future of Gaming, and DeFi's Significance in Enabling Efficient Financial Transactions in the Metaverse.

## Conclusion

Enter the Metaverse London was an informative and exciting occasion that showcased the latest developments in emerging technologies. It left attendees with a deeper understanding of the possibilities and challenges of the digital world and the potential of emerging technologies to shape our future.


pink image of london and metaverse VR headset above

Enter the Metaverse London Explained 

Yuga Labs, the company behind Bored Ape Yacht Club, released new information regarding the second trial of its gamified Otherside [Metaverse](/news/article/metaverse-vr-project-guide) platform on Wednesday.

The "second trip" will [occur](https://news.yuga.com/otherside-2nd-trip) on 25 March and consist of a two-hour narrative adventure led by four team captains from Otherside.

This trip is exclusively available to holders of Otherdeed NFTs, representing land in the unreleased Otherside Metaverse. Each Otherdeed holder, known as a "voyager", can invite a companion to join them in the adventure. The live experience can accommodate up to 10,000 voyagers on a first-come, first-served basis. Non-holders can watch a live stream of the event on the company's YouTube channel.

## Yuga Labs' Otherside an intersection of the brand's umbrella projects

According to an [interview](https://www.coindesk.com/web3/2022/12/21/see-you-on-the-otherside-how-yuga-labs-is-bringing-its-billion-dollar-business-into-the-metaverse/) with CoinDesk in December, Wylie Aronow and Greg Solano see [Yuga Labs’](/news/article/yuga-labs-explained) Otherside as the nexus of all the company's brand portfolio projects. In April 2022, the company hinted at its Metaverse aspirations by introducing a platform where players could possess the land and transform their current NFTs into playable avatars. Yuga Labs launched 55,000 Otherdeed NFTs connected to virtual land ownership, generating approximately $320 million in prior sales.

In July 2022, the company held its inaugural event for more than 4,600 participants, causing significant congestion on the [Ethereum](/news/article/ethereum-pow-price-prediction) network. Those who joined the first trip and are voyagers on the second trip will have the chance to obtain a distinctive [Obelisk Piece](https://otherside.xyz/my-otherdeeds) connected to the broader Otherside storyline. As per OpenSea's data, the total sales of Otherdeed NFTs have amounted to 524,130 ETH, which is approximately $806 million. At the time of writing, the minimum price for an Otherdeed NFT is 1.9 ETH, equivalent to $2,920.

The Otherside ecosystem is built around digital communities and blockchain technology, presenting chances for individuals to own digital land and use the native currency, [ApeCoin](/news/article/ape-coin-price). This currency is critical in powering interactions and transactions within the Metaverse's economy. By possessing digital land through "Otherdeeds", users can curate their immersive events and experiences.


pink image of otherside metaverse trip by yuga labs

Yuga Labs' Otherside Sails Again 

A completely immersive 3D world has long been a popular concept in the sci-fi world. The seemingly unrealistic concept has finally taken shape in recent years. The entry of big names like Meta, Roblox, NVIDIA, Epic Games, and others has inspired many projects - the [Metaverse VR (MEVR) project](https://mevr.app/) is one such example.

It is a remarkable take on Metaverse technology, introducing a virtual gaming and socialising platform. The MEVR project aims to connect the digital world with the real one and promote its mass adoption.

Let's look at what the Metaverse VR ecosystem looks like and how its crypto powers it.

## What is the Metaverse VR project?

MEVR is yet another exciting project in the virtual world. It has created a digital space for 3D socialising on the [Binance Smart Chain (BSC)](https://www.binance.com/en/blog/ecosystem/introducing-bnb-chain-the-evolution-of-binance-smart-chain-421499824684903436). The platform offers various [play-to-earn (P2E) games],(/news/article/play-to-earn) NFT collections, and other software projects. 

With this platform, MEVR aims to shape a digital universe that makes immersive experiences more accessible. 

The platform claims to be unique as it focuses on real-world uses of [Metaverse technology](/news/article/metaverse-crypto). The P2E games and the digital collectables it offers try to bridge our routine life with virtual reality. It also offers its native token, MEVR, which supports all the DApps on the platform. You can invest in the project as it provides a transparent ecosystem.

## MEVR tokenomics

The MEVR token is built on the BSC network and follows the BEP-20 token standard. The coin is hard capped at 100 million and has a burning mechanism. The platform burns around 50,000,000 tokens; the rest are divided into several parts. 

Firstly, the largest portion of around 15% is allocated for sales that offer liquidity. Secondly, game development, project partnerships, and marketing departments claim 10% each. The founding team of the project gets around 5% of the tokens.

The liquidity in its ecosystem is locked for around a year. Also, the amount allocated for marketing and development teams cannot be directly accessed. Only the financial team is allowed to withdraw funds from the blockchain.
 
## What's the Metaverse VR price?

According to [CoinMarketCap](https://coinmarketcap.com/currencies/metaversevr/), the coin's current price is $0.038, and its market cap is $608,505. There are 18,000,000 tokens in circulation with a trading volume of $154,752 in the past 24 hours.

Currently, the coin has not gathered much attention in the market. It is ranked at #3,393, which may indicate that it has no potential. However, some predictions show steady growth in its value.

The data from PricePredictions.net suggest that the token will likely average $0.048 in the ongoing year. It could also hit the max value of $0.055. Moreover, in 2025, the price may reach the $0.10 mark and the max value of the token in the year might be $0.12.

Though it may not indicate huge gains, MEVR will potentially see an upward trend in the coming years. If the platform succeeds in creating more use cases for its NFTs and games, it will gain more attention in the market.

## Where can I buy a Metaverse VR coin?

The coin is a relatively new offering in the market. That's why it is not available on most of the popular exchanges. You have four options for purchasing it through the following exchanges:

•	[Pancakeswap](https://pancakeswap.finance/).

•	[Hotbit exchange](https://www.hotbit.io/).

•	[MEXC Global](https://www.mexc.com/).

•	[Bitmart](https://www.bitmart.com/).

## Bottom line

Metaverse VR project is a novel approach to the virtual world. It plans to bring software, NFT collections, and P2E games that are practical. It aims for mass adoption of the technology and bridging the gap between the physical and digital worlds.

The platform is built on the BSC chain and is certified by various third-party auditors. It gives the platform commendable security and transparency, which is why you can easily invest in the token.


Metaverse VR Project: A Guide 

Paradox crypto has been trending online in recent months due to the booming [Metaverse](/news/article/bloktopia-metaverse-guide) industry.

Unfortunately, many cryptocurrency traders and investors are not privy to the fact that the digital asset is part of a broader project encompassing blockchain gaming, play-to-earn (P2E), [Metaverse](/news/article/buy-sandbox-land-simple-guide), and [non-fungible tokens](/news/article/shopify-nft-merchants-get-more-tools) (NFTs). 

## What is Paradox crypto?

It is the native asset of the Paradox Metaverse, a project announced in April 2022 by [Paradox Studios](https://www.globenewswire.com/news-release/2022/04/21/2426122/0/en/The-Paradox-Metaverse-Announced-the-Launch-of-its-Own-NFT-Collection.html), a UK-based development team. The company is behind a new blockchain game employing the P2E format, which is forecast to grow from $755 million in 2022 to approximately [$3.6 billion](https://timesofindia.indiatimes.com/blogs/voices/play-to-earn-games-the-future-of-the-gaming-industry/) in 2028 at a compound annual growth rate (CAGR) of 21.3%. 

After opening at [$0.1123](https://coinmarketcap.com/currencies/paradox-metaverse/) on cryptocurrency exchanges on 17 November 2022, PARADOX maintained this value as its all-time high (ATH). It reached an all-time low of [$0.01377](https://coinmarketcap.com/currencies/paradox-metaverse/) on 8 February 2023.

PARADOX has 12.7 million tokens in circulation from a total and maximum supply of 1 billion. As of the late evening hours of 14 February, PARADOX was exchanging hands for $0.01483. With this, the token had plummeted by 86% in value since its opening day, and 57% year-to-date (YTD).
 
## Paradox NFTs are also attached to the project 

The global NFT market sales have surpassed [$48 billion](https://www.cryptoslam.io/nftglobal) and the Paradox Metaverse Official Collection has contributed its quota to this milestone.

The digital collectibles are integral to the blockchain game, as potential players must buy an NFT character from the 8,878 collections before they can access P2E missions.

Upon completion of missions, gamers are rewarded with an in-game digital currency called ‘P-bucks’. The P-buck tokens can be swapped for PARADOX. 

In August 2022, the studio announced that it had enabled [Paradox NFT staking](https://metanews.com/the-paradox-metaverse-unveils-nft-staking/), which will help gamers earn passive income.

As of 14 February, the Paradox Metaverse Collection had more than 1,400 owners, commanded a floor price of 0.0397 ETH (about $61), and had seen a volume of 199 ETH (approximately $310,000) on the largest NFT marketplace across the globe [OpenSea](https://opensea.io/collection/the-paradox-meta). 

As of the same date, the token had a fully diluted market capitalization of $15 million and was supported by centralized cryptocurrency exchanges Huobi Global and BitMart.


Paradox Crypto Value Nosedives 

## Metakings Presale Metaverse: What’s in it for newbies? 

Want to learn more about the Metakings Metaverse presale? You've come to the right place. 

Metaverse, the shared space where users can interact virtually, mimicking the real world, will be the next big thing in tech. According to the [Global Metaverse Market Analysis Report 2022](https://www.businesswire.com/news/home/20230117005761/en/Global-Metaverse-Market-Analysis-Report-2022-Expected-Revenue-of-700-Billion-by-2030---ResearchAndMarkets.com#:~:text=The%20Global%20Metaverse%20Market%20is,momentum%20as%20it%20helps%20in), its market may reach a total revenue of $700 billion in the next seven years. It’s the reason even non-crypto natives are taking a keen interest in it.  

As a beginner, you may find it overwhelming if you want to join the bandwagon. To begin with, the already-established virtual platforms are quite expensive. In this regard, Metakings presale Metaverse can be worth exploring. 

## What is Metakings? 

Before we move on to the [Metakings](http://metakings.ai/) presale Metaverse, it’s crucial to get an idea about the platform. It is an artificial intelligence-based battle game. It has its own crypto, an MTK token, and its gameplay allows the players to earn rewards in its native token.  

Apart from fighting battles, it allows players to get in-game accessories, upgrade characters, and create kingdoms on its land. The blockchain game is built on the Binance Smart Chain (BSC). The project strives to become [the top-ranked game on BSC](/news/article/free-play-to-earn-games) regarding its active users.  

Though the platform is a P2E battle gameplay, it has proved impressive for virtual social interactions. You can buy real estate on the platform, create your virtual kingdom, and enjoy fun battle games with your friends in this digital realm.  

## Metakings presale Metaverse - An opportunity for beginners 

Metakings seeks to bring a new dimension to the Metaverse on BSC. The project is in its presale phase. This is an opportunity for individuals to purchase it at a discounted price. By playing Metakings, you can earn its native MTK tokens and in-game non-fungible tokens. These digital assets represent ownership of [a virtual piece of land](/news/article/nft-land) in its Metaverse. 

You can play to build your land and use it to generate a passive income. Suppose you participate in the presale - in that case, you can become an early adopter of the technology and have a chance to shape the future of this virtual world. It can help you get started with crypto and the virtual world if you are a beginner. 

## How to leverage Metakings presale of Metaverse? 

The presale provides an opportunity for crypto beginners to become part of Metakings’ Metaverse. Here’s how you can leverage it to earn rewards: 

1. One of the most common ways to earn rewards is its PvP combats. If you win these combats, you can push your rank on the leaderboard and earn MTK tokens.  
2. Secondly, you can breed MTK tokens and sell them in the market to earn a markup. . 
3. You can also collect rare Origins and Mystics. 
4. Lastly, you can produce the love potion used for breeding Metakings. 

## Closing thoughts 

Metakings is an imaginative blockchain game that is also introducing a Metaverse. Currently, the platform is running its presale, giving you a chance to purchase land in the [Metaverse](/news/article/how-to-buy-metaverse-land). Playing this interactive game, you can earn incentives in MTK tokens and its digital collectables. 

Metakings Presale Metaverse for Beginners

A revolutionary project in the Metaverse industry, RobotEra, is still offering its native token for presale. The TARO token of the virtual world is up for grabs at only 0.020 USDT.

The sale started in the last month of 2022 and will be completed in Q1 2023.

[RobotEra Metaverse](https://robotera.io/) is still in its initial phase, as it was launched in the last quarter of 2022. It’s a unique take on [GameFi](/news/article/what-is-gamefi) and Metaverse as it introduces an entirely decentralised ecosystem. 

## The RobotEra presale

Though the project is still in its developmental phase, it has gained traction from crypto investors and gamers alike. Since it is an ecosystem of various Web3 offerings, it shows signs of tremendous growth. This is why the TARO presale has received a phenomenal response from the community.

TARO launched in December 2022, and, so far, it has sold more than 46,382,380 tokens out of 90,000,000. The project has accumulated more than $927,647, while the team has set a target of $1.8 million.

## RobotEra - Metaverse, P2E gaming, and NFTs

The project protocol is deployed on the Ethereum blockchain, making it a secure platform for gamers. It is a complete Web3 ecosystem that involves its [virtual world](/news/article/how-to-buy-land-in-metaverse-worlds), blockchain game, and digital collectables.

So, whether you are a crypto enthusiast, gamer, or digital art collector, you will likely enjoy the project.

The blockchain game it offers has the [play-to-earn](/news/article/play-to-earn) (P2E) mechanism. You can earn rewards when you play its games and finish quests. The rewards are usually in the native token, TARO. But it can also offer you an NFT to upgrade your avatar or boost your powers. You can also cash out its crypto through exchanges or swap it with other crypto tokens.

The RobotEra platform works like [The Sandbox](/news/article/buy-sandbox-land-simple-guide), but is a multiverse for robots. You enter it as a robot and can create different experiences, socialise, play, and explore the virtual world.


RobotEra Metaverse Token Presale Update 

Polkacity is a multi-chain [Metaverse game](/news/article/farming-games-in-metaverse) that allows players to generate a passive income by simply holding NFTs. In the virtual world blockchain game, players can own virtual locations and have a steady passive income. It's native token, POLC, price could be linked to game development.

Each location within the world has actual value in the form of an NFT, which generates income in the form of a POLC token.

## How does it work?

The workings of Polkacity are quite simple. Once registered as a valid player or member of the Polkacity community, you can start buying and investing in assets.

The virtual world has a GTA-esque vibe and operates on the same principle; players can own assets in the form of taxis, gas stations, energy stations, services, and so much more.

Once players pick their preferred asset, they are provided with a contract address. From there, they have to make a deposit to the contract address shared with them. Once payment is made, players can expect to receive payments every week in their wallets.

If you invest in assets like the hotel in the game, you can make big money. Once the game is fully functional, you can expect to receive more than 13,000 POLC tokens in a week with bigger assets.

To elaborate, Polkacity is a hub for investors. The Polkacity price will only increase as the game picks up pace and functions at full capacity. The team at Polkacity uses resources available within the Metaverse, such as DeFi and NFTs, to make it easier for private investors to get the assets they want. In other words, every community member can make a passive income by investing in assets that work best for them.

## How to play Polkacity

Anyone interested in playing Polkacity and being a part of the growing community can access the game through a mobile application or desktop. The game is available to play on both PC and Mac.

The game remains in its beta phase, so new additions and improvements are made daily. As the team at Polkacity works hard to add better controls, new city-wide features, and improved graphics, Polkacity price is expected to go up. On the other hand, players in the Metaverse can already move freely by car, on foot, and by other modes of transportation.
 
The [Polkacity token, POLC, stands at £0.03111](https://coinmarketcap.com/currencies/polkacity/). The token at the time of writing has a circulating supply of 83,414,352 and its market cap is at £1,771,886.60.


pink image of polkacity logo on image of pink city

Polkacity Price Could Rise as Updates Arrive 