Things are moving fast in the metaverse and the wider world of Web3 as a whole. Depending on who you ask, this futuristic blockchain-based space is either the next big thing for marketing — and pretty much everything else — or an overrated fad. Here’s what you need to know from the past week:
Absolut Vodka brings Coachella into the metaverse
Absolut Vodka celebrates the long-awaited return of Coachella with the launch of “Absolut.Land”, a brand experience based on the metaverse that will mix Web3, festival culture, music and fashion. Hosted at Decentraland, the brand’s new virtual experience will also offer fans the chance to win tickets to a “VIP Experience” during the second weekend of the IRL festival. Absolut said in a statement that it was “paying homage to its Swedish single-source heritage” by teaming up with Coachella headliner Swedish House Mafia for the launch of Absolut.Land. The group’s latest album, “Paradise Again”, which will be released on April 15, “will be played on a personalized jukebox within Absolut.Land”. Absolut, which celebrates 10 years as the official vodka of Coachella this year, says virtual festival-goers will have access to a variety of experiences within Absolut.Land, including an “anti-gravity dance floor”, a “selfie room,” and the PRIDE tunnel (described as an “all-out rave paying homage to Absolut’s longstanding involvement with and support of the LGBTQ+ community”). The brand has also teamed up with handbag, jewelry and accessories brand Susan Alexandra, giving fans the chance to score virtual clothing from the “Susan Alexandra for Absolut Collection.”
Meta announces new creator fees and the NFT community is pissed
On Monday, Meta announced in a blog post that it would begin testing new programs aimed at allowing creators to earn money, through the sale of virtual goods such as NFTs, within its Horizon Worlds platform. VR. A few days later, it was revealed that the company – which has a history of invoking the wrath of some of the most dyed-in-the-wool Web3 types – plans to take almost half (47.5%) of all these benefits. . That’s considerably more than the 30% transaction fee Apple charges on its App Store, a rate that Zuckerberg himself criticized. Many in the NFT community are understandably annoyed. Twitter was inflamed with outrage. An NFT collector wrote on April 13, “The ‘quite competitive’ 47.5% referral fee for the #NFT platform planned by @Meta is perhaps the best example of being completely and utterly disconnected from something I’ve never witnessed.” The general feeling seems to be: choose a path, Meta. Are you here to empower creators – which, after all, is one of the central goals of the Web3 movement – or are you here to exploit them?
MoonPay attracts Justin Bieber, Drake, Gwenyth Paltrow and other A-List investors
MoonPay, a startup that lets users buy crypto using mainstream digital payment services like Apple Pay, is backed by multiple A-listers. The list includes Justin Bieber, Ashton Kutcher, Gwenyth Paltrow, Eva Longoria, Drake, Paris Hilton and Matthew McConaughey, according to CNBC. The company, which launched in 2019 and was recently valued at $3.4 billion, sums up its core mission in three words: “increase cryptocurrency adoption.” Crypto and NFT markets can be extremely profitable, but they also tend to be quite volatile. This volatility, coupled with the fact that many people perceive crypto and NFTs to be too technologically complex to be worthwhile, clearly present rich opportunities for a company like MoonPay looking to make these markets more accessible to the public. average investor.
Pampers and LL Cool J’s company Rock The Bells Announce Collaboration for Black Maternal Health
Pampers has teamed up with rapper LL Cool J’s company, Rock the Bells, to launch a new NFT series in support of Black Mammas Matter Alliance (BMMA), a nonprofit organization aimed at raising awareness for black maternal health. The campaign, hosted on the NFT Curio platform, was organized in conjunction with Black Maternal Health Week, which was founded by BMMA. “Maternal mortality rates in the United States are among the highest in the developed world and the highest among black women,” Pampers, a P&G-owned brand, said in a statement. “In fact, black mothers are 3 times more likely to die or suffer complications during pregnancy and postpartum than white women, and 60% of all maternal deaths are preventable. Pampers thinks the time is right to change outcomes for black mothers. that’s why the brand is proud to sponsor the fifth annual Black Maternal Health Week, founded and led by the Black Mamas Matter Alliance (BMMA), and to partner with Rock The Bells to create a collection of non-fungible tokens ( NFT) limited edition with proceeds going to BMMA to advance care for more black moms. The company notes that its NFT drop will include “a unique motion-designed NFT,” priced at $60,000, which will come with two VIP tickets to the Rock The Bells festival, which kicks off August 6 in New York City.
Epic Games Gets Financial Support From Sony To Boost Metaverse Development Efforts
Epic Games, the video game developer behind Fortnite – a platform that has blurred the lines between video gaming and virtual reality social hub – recently received a significant financial boost in its latest round of funding. The capital comes from consumer electronics giant Sony and Kirkbi, the investment company that owns the LEGO Group – each party would invest $1 billion in Epic. (Epic and LEGO also recently announced a partnership to build a more kid-friendly metaverse.) In an April 11 blog post, Epic said its newly acquired $2 billion would go to “[advancing] the company’s vision for building the metaverse and supporting its continued growth. According to Epic’s chief executive, Tim Sweeney, this latest round of funding will help the company solidify its efforts as a major player in the burgeoning metaverse. “As we reimagine the future of entertainment and gaming, we need partners who share our vision. We have found that in our partnership with Sony and KIRKBI,” Sweeney said in a statement. “This investment will accelerate our work to build the metaverse and create spaces where gamers can have fun with friends, brands can create creative and immersive experiences, and creators can build community and thrive.”