Luxury Italian fashion house Gucci has launched ‘Gucci Vault Land’, its latest play-to-know game, in The Sandbox metaverse. With Gucci Vault, the fashion brand offers players the chance to complete objectives, earn rewards and educate themselves on the illustrious history of the company.
Meta continues to return losses from its biggest bet ever. In its Q3 earnings report, the company’s metaverse division reported a loss of $3.6 billion, its highest ever in a single quarter, bringing its grand total in losses this year to a staggering $10 billion.
Norway’s public registry center is collaborating with global accounting firm Ernst & Young (EY) to open an office in the metaverse. Through its virtual office, the government agency aims to educate the younger generation about tax laws, business development and cryptocurrencies.
Nokia believes that by 2030, smartphones will be replaced by the metaverse as the primary form of communication between people. The company says that as metaverse platforms add more use cases, there will be increased demand which will lead to more affordable AR and VR devices flooding the market.
The International Criminal Police Organization or INTERPOL has launched a metaverse designed for law enforcement agencies. The virtual reality platform allows registered users to take training courses in various areas of policing, and intends to make the metaverse a safer place.
Trademark filings reveal popular food brands In-N-Out Burger, Kraft Foods and Del Monte Foods are planning to enter the metaverse. The companies have patented goods and services like food, beverage, restaurants, NFTs, crypto exchanges and marketplaces for the virtual world.
Audius has purchased virtual concert hosting service SoundStage. The blockchain-based music streaming platform backed by Katy Perry and Sony Music plans to bolster its presence in the metaverse with the acquisition.
Mark Zuckerberg’s dream project is not picking up as expected. The company’s failing Metaverse division has lowered expectations and is backtracking on releasing new features for Horizon Worlds. The VR platform which lost users due to quality issues has been put on “quality lockdown” until the end of the year.
Meta is adding support for Microsoft applications on its latest Quest Pro and Quest 2 headsets. Collaboration between the tech giants is part of Mark Zuckerberg’s vision to build the ultimate metaverse platform for work and entertainment.