Virtual avatar company Hologram has raised 6.5 million dollars in seed funding led by Polychain Capital.
Hologram, founded by Tong Pow and Hongzhi Mao in 2021, partners with online communities to foster self-expression and digital identity in the metaverse.
Metaverse-focused companies look to adapt and generate revenue. Also, help desirable projects along the way.
Metaverse is a term coined by novelist Neal Stephenson. He coined the term Metaverse in the science-fiction book Snow Crash.
A metaverse is a place beyond the universe. People interact with each other in the metaverse by creating an avatar of themselves.
Facebook has rebranded the company’s name as META to focus on creating a metaverse.
Facebook CEO recently stated the company would be focusing on developing a metaverse. And it should mean as existing on the internet rather than seeing it.
Metaverse is present on the blockchain. Metaverse is present as different realms now like Decentraland, TheSandBox, CryptoVoxels, etc.
Soon there would be bridges connecting them. So, users in one realm can take their assets and move to another realm. The Metaverse will have its separate economy.
All property, and pets, in the metaverse are owned as NFTS in the user’s wallet. Thus, making all your assets in the metaverse secure, transferable, and private.
Science fiction novels and movies aim to create this metaverse without any flaws. Games like Fortnight and Roblox explore this on their premise.
Many companies in the financial sector also have invested in metaverse elements like NFT.
Mainstream adoption of the metaverse is also being driven by interest from massive brands like Adidas and Nike.
German sportswear manufacturer Adidas announced entering the metaverse. After partnering with nonfungible token (NFT) companies. Including Bored Ape Yacht Club, Gmoney NFT, and Punks Comic.
Designer clothing brand Gucci has bought virtual land on The Sandbox. Gucci will create themed experiences on The Sandbox inspired by its Gucci Vault platform. It would list items like Gucci-themed NFTs and vintage bags.
Gucci also will be releasing fashion items for Sandbox players to buy and wear in the game.
Yahoo has announced a series of Metaverse and nonfungible token- (NFT)-related activities in Hong Kong.
The largest bank in the United States, JPMorgan, has opened a virtual lounge in the popular blockchain-based world Decentraland after it labeled the sector as a 1-trillion opportunity.
The Wall Street giant also published a report outlining the potential growth opportunities in the metaverse, which they intended to capitalize on by building a presence in the virtual world.
JPMorgan has already opened a virtual lounge in the popular blockchain-based world Decentraland after labeling the sector a 1-trillion opportunity.
Visitors to the lounge, situated in Decentraland’s Metajuku Mall, are greeted by a roaring tiger and a digital portrait of Jamie Dimon, CEO of JPMorgan. If players walk upstairs, they can watch an executive’s presentation on the economics of cryptocurrency.
JPMorgan has identified a rush of individual creators utilizing Web3 to monetize their work in new ways as a driving force behind the new economy being built in the metaverse.
The round also saw participation from Nascent, Inflection, The Operating Group, Quantstamp, Neon DAO, Foothill Ventures, South Park Commons, and several angel investors including Linkin Park’s Mike Shinoda.
