nChain Invests $4 Million in Metaverse Platform Transmira
nChain, a world leader in Web3 and Blockchain technologies, today announces that it is investing $4 million and taking a 20% equity stake in Transmira, a revolutionary metaverse platform. nChain's investment offer follows the announcement of a strategic partnership reported in February.
OKX’s Ex-CEO Jay Hao joins Sensorium Advisory Board to advance Web3 development
Sensorium, a leading metaverse development company pushing the boundaries in the Web3 space, has revealed that Jay Hao, former CEO of OKX — one of the world’s largest cryptocurrency exchanges — has joined their Advisory Board. This development is considered a major victory for Sensorium, as Hao leverages his extensive experience from his prominent career in the blockchain industry.
Crypto Evening Briefing: Kraken Asks San Francisco Court to Intervene Against IRS Demands
Kraken has joined Coinbase in an effort to push back against the growing regulatory scrutiny by United States regulators.
Reality Labs’ $4B Loss Contributes to Meta’s Ongoing Metaverse-Related Struggles
Meta's Reality Labs division recorded a loss of $4 billion in Q1 2023, following an annual loss of over $13 billion in 2022. Despite this, Meta remains committed to the metaverse, though its ambitions have been scaled back, and the company has carried out cost-cutting measures, including layoffs. The total revenue generated from the company’s metaverse was $339 million, which pales in comparison to other revenue streams like ad revenue. Meta's stock value has picked up over the past few weeks but tanked in 2022. The company has turned its attention to AI, with CEO Mark Zuckerberg stating that Meta wants to "introduce AI agents to billions of people." In February, Meta established a new team focusing on creating AI solutions for Instagram and WhatsApp.
Metaverse Division’s $4B Loss Drags On Positive First Quarter for Meta
Meta suffered a nearly $4 billion loss from its metaverse unit with Reality Labs in what was otherwise a solid first quarter for the Mark Zuckerberg-led social media empire which posted a final profit of $5.7 billion.
Meta Profits Slump 23% as Metaverse Bet Continues to Cost the Company Billions
Facebook parent Meta reported profits fell 23% during its first quarter compared to last year on Wednesday, as Mark Zuckerberg’s social media empire tries to find its footing amid a weaker economy.
Meta Says 40% of Instagram Content Is AI-Recommended; Retains Metaverse Focus
Meta CEO Mark Zuckerberg said that AI already drives content discovery. He noted that, on Facebook and Instagram, 20% of user feed content is suggested by AI and comes from accounts that the user does not follow. He said that this makes up 40% of the content seen on Instagram.
London Real Ventures Invests in Vatom, Accelerating Growth in the Metaverse and Digital Asset Management
London Real Ventures (LRV) is excited to announce its recent investment in Vatom, an innovative Web3 SaaS engagement platform, enabling companies to connect better to their customers, employees, and stakeholders while streamlining processes and improving profitability.
Web3 and the Future of Jobs: Exploring the Emerging Job Market of the Metaverse
The Web3 economy is creating a new paradigm for work and employment. With the convergence of blockchain technology, the metaverse, and digital assets, new types of jobs are emerging that promise to be more open, decentralized, and inclusive than ever before.
Crypto Morning Briefing: Binance.US Backs Out of Voyager Asset Purchase Deal
Meta's Q1 Profits Plunge 30%, Pivots to AI for Metaverse Growth Amid TikTok Pressure; Coinbase Goes Offensive Against The SEC With Lawsuit Targeted At Regulatory Clarity; Venom Foundation Announces the Release of its Public Testnet; TerraCVita Plans to Relaunch Terraport on Terra Classic After Certik Audit
