Introduction from our CEO, Jawad Ashraf
Hello and welcome to our monthly news blog, which is my chance to give our community an insight into what we’ve been working on, and share my opinion on some of the big topics in our industry.
Last month I was asked about Axie Infinity and play-to-earn gaming by the popular mainstream UK newspaper The Sun, and you can read the article by clicking the button below. It was fascinating to explore the topic, given how instrumental play-to-earn will be in changing the games industry.
I personally think it’ll be a huge positive, presenting gamers with more long-term value in their gaming investments, and even empowering people with new employment opportunities in some parts of the world.
Play-to-earn has also given rise to gaming guilds, another phenomenon that we will only see more of in the future, and which will form huge communities in the metaverse.
We’re soon to launch our own metaverse, and play-to-earn games like Axie Infinity and Nitro League will be granted their own real estate in the space.
And finally, I’d like to give a big shout-out to our Chairman Gary Bracey, who attended last month’s Pocket Gamer Connects London conference. Gary took part in a track to discuss our vision for NFTs, blockchain, and the metaverse. It’s great to get back to physical meetups, and we look forward to seeing you all at future events throughout 2022.
Terra Virtua News: Bag Yourself a Small Piece of History!
Terra Virtua caused a stir on prime-time US television by releasing a limited run of special NFTs of TV presenter Stephen Colbert, with all proceeds going to charity.
The host of The Late Show with Stephen Colbert had previously attempted to explain NFTs to his audience, by reading handwritten notes from the back of his brown paper lunch bag — which he referred to as an “AFT” (or “Actual ******* Thing”)! The bag was subsequently auctioned, raising $33,333 for the charity DonorsChoose, which provides educational materials for teachers and students in American public schools – and now, Terra Virtua has immortalised Colbert and his brown paper bag as a collectible 3D-animated VFLECT NFT robot.
These brand-new pieces of NFT history are officially available to buy on the Terra Virtua Marketplace, with all proceeds going to DonorsChoose.
Industry News: 1 in 4 People Will Spend an Hour a Day in the Metaverse by 2026
On February 7, Gartner released a report predicting that by 2026, 25% of people will spend at least one hour a day in the metaverse for work, shopping, education, social and entertainment purposes.
The story received widespread industry interest, including in Cointelegraph, where Terra Virtua CEO Jawad Ashraf highlighted current research indicating that the metaverse will change the way in which users interact with virtual environments, and predicting that it will become a destination for social occasions, work meetings, gaming events, music concerts and more.
In Cointelegraph’s article, Jawad also said: “It may be too early to predict exactly what the metaverse will become, but what we do know is it will open up completely new experiences and enhance our lives.”
Industry News: J.P. Morgan Opens Bank Branch in the Metaverse
J.P. Morgan, the largest bank in the US, claims to have become the first lender with a presence in the metaverse. CoinDesk reported that the Wall Street institution has opened its Onyx lounge in Decentraland, a virtual world based on blockchain technology, where electronics giant Samsung unveiled a version of its New York store last month.
J.P. Morgan also released a paper exploring new business opportunities created by the metaverse, assessing “metanomics”, and attempting to distinguish between metaverse hype and reality.
“We believe the existing virtual gaming landscape (each virtual world with its own population, GDP, in-game currency and digital assets) has elements that parallel the existing global economy,” states the report, observing that the average price of a virtual land parcel in four major Web3 metaverse sites doubled in the second half of 2021.
Terra Virtua News: Trailblazing Digital Artist Presents First-Ever NFT Collection
Acclaimed Hollywood artist John Taylor Dismukes brought his iconic Death Merchant to Terra Virtua as a unique NFT collection in February. Throughout his extensive career, Dismukes has always been a pioneer. He began focusing on digital art over 30 years ago (long before many of his peers), and started his career as an illustrator in Hollywood, working for clients in the music and entertainment industries.
Dismukes’ original airbrush paintings have graced album covers and merchandise for rock legends including Steppenwolf, The Grateful Dead, Megadeth, and Foreigner. Working alongside Hollywood’s biggest studios, John has created logos, posters, and merchandise for blockbuster movies including Mad Max, Transformers, Jurassic Park, the original Terminator trailer, and Star Trek.
Now, John Taylor Dismukes is taking even greater leaps into the future of art. His move into the NFT space demonstrates a passion for art’s next evolutionary stage, and shows how artists in 2022 can give their fans a whole new way to own a piece of their favourite creator’s work.
Industry News: The Metaverse Puts on a Show at New York Fashion Week
This year’s New York Fashion Week confirms that the future of fashion lies in the metaverse, according to Vogue Business.
High-profile designer Jonathan Simkhai chose to forego the catwalk entirely, and presented his collection in Second Life to an audience of avatars belonging to editors and invited guests. The concept of the virtual show has apparently taken on a new meaning, as metaverse elements such as interactivity, immersion, and co-creation muscle in on long-established runway traditions. A number of fashion houses embraced virtual shows and augmented reality in New York, while some opted to issue NFT gifts to their guests.
Industry News: Coachella to Sell Lifetime Festival Passes as NFTs
The California-based Coachella music festival is selling lifetime passes for the first time – and they’ll be NFTs, according to a recent report by The Verge. The Coachella Keys Collection (a set of 10 NFTs that will entitle holders to a festival pass every year for life, as well as unlimited access to Coachella virtual events and exclusive additional perks) will be auctioned off through an NFT marketplace.
Terra Virtua News: Epic New Godzilla vs. Kong NFTs
Last month, Godzilla vs. Kong fans were treated to a sensational new drop on Terra Virtua, with a number of newly-minted NFTs arriving from the MonsterVerse.
On YouTube, our very own Jaka and Em hosted the big event with a live drop countdown, unveiling the latest additions to the collection.
Excited fans were also given the chance to win a trip to Tokyo in an exclusive Terra Virtua competition, simply by declaring their allegiance to either Team Kong or Team Godzilla on social media.
And finally, we are relieved to confirm that no Wigan Athletic players were harmed during Kong’s impromptu pitch invasion during the team’s warm-up, thanks to the augmented reality viewer on Terra Virtua’s mobile app!
In March, we’ll continue to work on our brand-new metaverse, bringing our iPhone app to Apple’s App Store, and a number of exciting partnership initiatives, including the launch of The Wrong Man — the world’s first NFT musical, created and performed by multi-platinum artist Ross Golan.
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