Newsletter n°22
Metaverse: Virtual fashion is a Success
Roblox says it has millions of users designing virtual clothing and accessories for its virtual worlds, and millions more willing to pay for these items to dress their avatars, according to a new survey released Wednesday by the company and Parsons School of Design.
?Roblox says over half of the surveyed users said they change their avatars’ clothing at least every week, based on factors ranging from their mood to impulse-driven purchases, and where they are headed to in the metaverse at any given time. A majority of respondents had spent $5 to $10 on a single clothing or accessory item. A quarter of users owned over 50 things their avatars can wear.
Much of the virtual clothing for sale on Roblox was created by users, rather than established fashion brands. That’s starting to change, as labels release Roblox-specific gear.
But the platform faces challenges such as the difficulty of making virtual clothing look as good as its physical counterparts, or building long-term interest from consumers when there are millions of items dropping. Roblox isn’t alone in confronting these challenges — Meta had positioned itself as the metaverse’s biggest champion but has struggled to convince its billions of users of its appeal.?
Metaverse is still something to be understood.
Actually, only young people and gaming fans have got the strong possibilities it offers.
Will they find a solution that works for all?
NFT: Meta’s Instagram Plans NFT Minting,
Instagram is developing an NFT minting and sale feature through its app, parent company Meta announced Wednesday. The upcoming “end-to-end toolkit” for NFTs will allow users to create and launch their own NFTs for sale through Instagram.
“A small group of creators will soon be able to create digital collectibles (NFTs) and sell them right on Instagram,” said Meta’s Head of Commerce and Fintech Stephane Kasriel in a statement.
At launch, Instagram will use the Polygon blockchain for NFT minting. The app will also pull NFT metadata from OpenSea so that collection names and descriptions can be viewed on Instagram.
"Creators on Instagram having the opportunity to engage with fans and monetize through Polygon-powered digital collectables is a watershed moment for both the creator economy and web3," Polygon Studios CEO Ryan Wyatt
Why the big NFT push? Meta says it believes in the vision of Web3—and wants creators to leverage NFTs to better monetize their content.
“Our strategy for Web3 technologies—including blockchain—is focused on helping creators make a living,” Kasriel said.
“We believe Web3 tech, like blockchain, will positively enhance the economic model for creators by giving them the ability to create new types of digital assets to monetize.”
Luxury: France to Auction Rolex Watches, High-End Handbags Seized as Contraband
France is auctioning off a trove of seized luxury goods including high-end handbags and a pair of Rolex watches that could raise a total of at least €700,000 ($691,460).?
The items, seized by French customs officials as contraband, are to be auctioned Friday in Paris and include a white gold Rolex Sky-Dweller estimated to fetch between €15,000 and €25,000, according to the auction website.?
The auction estimate for the watch, which enables the wearer to track different time zones, is €4,000 to €6,000 which is again significantly below average resale market prices.
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Overall about 350 lots will be offered by French auction house Drouot including cars, sneakers, platinum bars, and a Hermes’ Birkin bag size 40 in Clemence taurillon leather with white stitching, silver plated metal fasteners, and clasp, with a starting price of €4,500.
“The goal of this sale aims to show that if anybody breaks the law, the sanctions can be severe,” Caumeil said.
Web3: Mastercard Welcomes 7 Crypto, Blockchain Startups to Fintech Innovation Program
Credit card giant Mastercard today announces that it’s welcoming seven new startups into its global startup engagement program, Mastercard Start Path.?
Since its inception in 2014, Mastercard Start Path has fielded applications from over 1,500 startups every year and the program has helped more than 350 businesses attract well over $3.5 billion in funding.?
This year’s cohort welcomes seven companies from five different countries into the fold. From the United States, there’s Web3 payments company Loot Bolt, a crypto privacy and compliance firm called Quadrata, and Uptop, which uses blockchain tech to help brands personalize their consumer experience.?
By bringing together various firms from different fields within crypto, Mastercard’s Start Path aims to catalyze innovation in the space and accelerate the hybridization of Web3 and emerging fintech systems with traditional finance.?
Mobility: All-electric aircraft 'Alice' makes its first test flight in a milestone for zero-carbon aviation
According to Atmosfair, a German climate protection NGO, a passenger on a short return trip between London and Rome has a carbon footprint of 234 kg of CO2.
Israeli start-up Eviation is looking to change this by devising an all-electric plane that can be used on similar short-hop flights.
Its battery-powered prototype aircraft "Alice" successfully completed its first test flight in Washington state, the US, this week.
"It was a wonderful experience for everyone who was here. We were able to witness history in the making," Gregory Davis, CEO of Eviation.
The company is now aiming to develop a battery that can be charged in about 35 minutes for short-haul trips of between 1 and 2 hours.
"We're looking at developing an airplane that will fly 1 to 2 hours, which is typical for that segment. So, 150 to 250 nautical miles with reserves. And that's what we're targeting for our initial entry at the surface," said Davis.
Fashion: Burberry partners with Minecraft as it goes deeper into gaming
Burberry is partnering with Minecraft as the British luxury house expands its metaverse presence and pushes deeper into the world of gaming.
Launching today, Burberry’s in-game Minecraft adventure, Burberry: Freedom to Go Beyond, encompasses a host of immersive experiences as well as a physical capsule collection that’s available online and in seven global stores: New York, Shenzhen, London, Tokyo, Seoul, Taiwan, and Bangkok. The game, which consists of four rounds, takes place in a fantastical rendering of London, with pixelated Burberry motifs throughout. While exploring the space, players will encounter brand classics rendered for the gamified experience, such as an Equestrian Knight character, a Thomas Burberry Monogram maze and underwater reefs, chequered balloons, and characters from the Burberry animal kingdom.
It’s Burberry’s “marquee moment” to go big in the gaming sphere, says director of channel innovation Phillip Hennche.
Burberry’s virtual world, created in partnership with Minecraft developer Blockception, is accessible via the Minecraft Marketplace. In stores where the physical collection is available, screens displaying scenes from the game will line the walls and floors, creating immersive retail experiences for a collection that wants to bridge the gap between digital and physical.