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Saturday, 29 October 2022
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Partner
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There has been a massive surge in the number of companies and international firms bracing up for the supposed next iteration of the internet. From football clubs to music stars, everyone is now ‘entering the metaverse’.
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Gucci, an international fashion brand, is not willing to be left behind in this regard. It has launched its metaverse named Gucci Vault Land in The Sandbox, the digital real estate platform.
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Here is our weekly newsletter roundup. Now get a bucket of popcorn and follow through. First, a brief summary….
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Summary of the news
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- Binance to help Elon Musk integrate crypto to Twitter
- El Salvador and Lugano enters partnership
- Telegram launches marketplace
- Gucci enters the Metaverse
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Binance to help Elon Musk integrate crypto to Twitter
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Binance is now a confirmed equity investor in Elon Musk’s $44 billion high-profile Twitter buyout deal. The world’s largest exchange is also exploring ways to help Twitter fight spam bots using crypto.
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Binance founder and CEO Changpeng Zhao said in a statement:
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“We’re excited to be able to help Elon realize a new vision for Twitter. We aim to play a role in bringing social media and web3 together in order to broaden the use and adoption of crypto and blockchain technology,”
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According to a Friday report from Reuters, Binance is creating an internal team to focus on how crypto and blockchain could be integrated into Twitter. The team would reportedly address various issues, such as how to eliminate bots and inauthentic accounts from the platform.
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El Salvador and Lugano enters partnership
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Yesterday, Michele Foletti, Mayor of Lugano, and Milena Mayorga, El Salvador’s Ambassador to the United States, announced that the City of Lugano and the Republic of El Salvador have signed a Memorandum of Understanding on economic cooperation.
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The announcement was made during the inaugural Plan B Forum, an event that brought together the top international experts of the Bitcoin/Blockchain world. Mayor Michele Foletti said:
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“Thanks to Bitcoin and the pioneering path undertaken by both your Government and the City of Lugano, it was possible to build this collaboration, which resulted in the Memorandum of Understanding of economic cooperation between the City of Lugano and the Government of the Republic of El Salvador.
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It is our common interest to promote cooperation and the development of synergies in the context of Lugano Plan B, in support of the institutions and companies of our territories. We are interested in El Salvador’s experiences adopting bitcoin as a legal tender. We want to continue proposing initiatives in collaboration with educational and research institutions and private and public partners to create knowledge and skills in our territory and support its competitiveness”.
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The Memorandum of Understanding provides for the physical presence of a representation of the Government of El Salvador on the territory of Lugano, which will foster cooperation with educational and research institutions, encouraging the development of initiatives related to blockchain technology.
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Telegram launches marketplace
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The popular messaging app Telegram announced on Wednesday the official launch of its new marketplace built on the Telegram Open Network (TON) blockchain. The marketplace will serve as an auction platform on which rare Telegram handles will be up for grabs.
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Telegram will start with auctions of four- and five-letter handles, with this being the first time shorter handles will be made available to all users. The auction will last a week, with a price minimum for a four-character handle likely to be set at 10,000 Toncoin, the native token of the TON blockchain.
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Individual Telegram users will also have the ability to auction off their own usernames. According to the announcement, the owners of a particular handle will have the option to move and resell their purchase across several marketplaces as desired.
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Andrew Rogozov, founding member of the TON Foundation, believes this development will help accelerate blockchain adoption.
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“For the first time, social media users will be able to transparently prove that they own their handles.”
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A word from our sponsor!
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For an exclusive 8-week mentorship program for you to take the next step in your Web3 Development Journey, register for the Polygon Bootcamp Africa Class of 2022 which will continue this October.
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For more details and registration, click here .
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Gucci enters the Metaverse
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Gucci’s metaverse is named Gucci Vault Land and will be open until 9 November. This establishes Gucci as the first brand in the fashion world to have its own space on the platform.
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The brand’s intent states:
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“Gucci’s virtual reality was created to realize the vision of an experience that offers enthusiasts the opportunity to meet real and imaginary worlds, past, present and future that coincide and a parallel multiverse of light and shadow.”
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Designed to be Gucci’s metaverse and Web3 space, the world will host a selection of NFT artworks, the brand’s past NFT works, and its community. The Gucci metaverse will also present its garden concept: the “Jardín de curiosities,” through which users will access the space. There will also be vintage pieces from the brand, displayed but not for sale.
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In addition to a fashion-focused metaverse space, Gucci will also offer fashion items for players of The Sandbox to buy and wear in the game’s virtual reality. In search of precious wonders, Gucci Vault Land will feature a selection of digital collectibles. From hats to skate ramps and even a car, each piece is designed as a valuable collectible that players can display in their land.
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Other stories we are following
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