News – METAVERSE
The Metaverse and Web 3.0 update – September 27th
Web 3.0 is continuing to redefine the way we engage with brands and celebrities. With each passing week, more and more brands are turning to Web 3.0. We are seeing household names such as the NBA and Walmart creating experiences in the metaverse, or exploring NFTs.
In this article we will take a look at both of these developments plus more of the biggest headlines relating to Web 3.0 from the past 2 weeks.
What is Web 3.0?
Walmart enters the metaverse with Roblox experiences
Walmart is entering the metaverse with two Web 3.0 experiences on Roblox. These experiences will be called Walmart Land and Walmart’s Universe of Play.
Walmart is using these experiences as an experiment to explore new ways to reach their customers. These experiences will include things such as shoppable recipes, live streaming events and an augmented reality feature for furniture.
Armani Beauty releases a game in Fortnite, called “Rewrite the Code”
Armani’s new game, ‘Rewrite the code’ which will be playable within Fortnite is inspired by the brand’s new scent for men, Armani Code Parfum.
Armani hopes this game will reshape the rules of engagement with gamers as a core target.
As part of the game, players collect code numbers to unlock a certain ingredient used to make the Parfum. Each attempt is its own mini game, which features a different setting and ingredient found in the Armani Code Parfum, such as iris, cedarwood and sage.
“Rewrite the Code” launched on Sept. 26 and was backed by livestream campaigns with gamers on YouTube, TikTok and Twitch in the U.S., U.K., France, Spain and Germany.
Apple will allow developers to sell NFTs in their games & apps
Apple will allow developers to sell NFTs in their games & apps, however, sales will be subject to the same 30% cut as Apple usually takes from sales.
The reaction to this news has been mixed, with some arguing that this is a positive things as it could introduce over 1 billion Apple users to crypto. However, others, like Epic Games’ CEO Tim Sweeney, think it could crush nascent Web3 technology.
Universal studios to include NFTs in their theme parks
The Universal Studios theme parks in California and Florida will start to add NFTs to their list of attractions.
Until October 31st, park visitors will be able to participate in a Halloween-themed scavenger hunt that could result in the minting of approximately 7 million NFTs.
There will be Seven QR codes hidden throughout each park, and each will mint an NFT when scanned. Visitors who find and scan all seven will receive a special NFT, which Moonpay, who’s partnering with Universal on the project, said will unlock additional perks.
Boxing championship fight streamed in Decentraland
The Championship Boxing fight between Canelo vs. GGG was streamed live on leading metaverse, Decentraland.
Fight promoters, DAZN were selling Canelo PFPs (NFT tokens) with varied utilities being attached to them. One such utility was being granted access to watching the fight live in Decentraland, at the virtual stadium specially created for the event.
Faze Clan to create their own virtual world
Leading e-sports team, Faze Clan, has announced plans to develop and host a virtual world that will be the gaming company’s home in the metaverse. The planned metaverse will be known as “Faze World,” and will be built on the metaverse platform, Sandbox. Faze World will feature a variety of digital goods and experiences to connect FaZe Clan creators and fans together.
Faze World is expected to launch in 2023.
Starbucks announces their Web 3.0 based rewards program
Starbucks has officially introduced Starbucks Odyssey, which will be launched later this year and will be their first foray into Web 3.0.
Starbucks Odyssey will combine the company’s successful Starbucks Rewards loyalty program with an NFT platform, allowing its customers to both earn and purchase digital assets that unlock exclusive experiences and rewards.
Furthermore, they’ll be able to engage with special activities, which Starbucks called “journeys”. These journeys will be like playing interactive games or taking on challenges designed to deepen their knowledge of the Starbucks brand or coffee in general. By completing these journeys, members will be able to collect digital collectibles in the form of NFTs.
NBA to release a new NFT game with SoRare
The NBA, in partnership with SoRare, has announced an official NFT fantasy basketball game, which will launch this Fall.
SoRare have a lot of experience in creating sport NFT games with a very successful football/soccer game already in operation.
The NBAs first NFT related game, TopShot, was a huge success that helped spark mainstream interest into NFTs.
The Metaverse and Web 3.0 have once again managed to attract a whole host of celebrities and brands to join the Web 3.0 revolution. Numerous well known and established brands have announced exciting projects aimed at taking full advantage of the metaverse. Each week, more and more announcements about partnerships and new experiences opening in the metaverse are made.
If you are interested in learning more about how your business could get involved with the Metaverse, why not talk to one of our experts now.
For a full list of our blockchain services, please click here.
Please note that this article is for information purposes only and does not constitute legal advice.
Our consultations last for a period of 1 hour and are conducted by our Blockchain experts Lawyers who are fluent in English, French and Thai.
Consultations can be hosted via WhatsApp or Video Conferencing software for your convenience. A consultation with one of our Blockchain experts is undoubtedly the best way to get all the information you need and answer any questions you may have about your new business or project.
Online payment (Paypal or Credit card)
Legal consultation can be conducted in English, French or Thai
Legal consultations are handled by Blockchain expert lawyers.
Frequently asked questions
Do you pay tax on crypto in Thailand?
The transfer of cryptocurrencies or digital tokens via a registered exchange in Thailand are now exempt from VAT (7%). This new legislation has been retroactively enforced from April 1st 2022, and will last until December 31st 2023.
Which country is tax free for cryptocurrency?
Examples include, Germany, Belarus, El Salvador, Portugal, Singapore, Malaysia. and Malta.
Is cryptocurrency legal in Thailand?
Yes Cryptocurrency is legal in Thailand. The Thai Government has been enacting and releasing legislation which is designed to create a legal framework for Cryptocurrencies in Thailand.
Is Binance legal in Thailand?
Binance has not been issued with the required licence from Thailands Security and Exchange Commission.
Does Thailand have capital gains tax?
Yes, Thailand has Capital Gains Tax and is set at a rate of 15%.
How do you buy metaverse land?
- Selecting a Metaverse platform of your choice.
- Create an NFT or crypto wallet.
- Link the wallet that you have created to to Decentraland.
- Purchase ETH via Binance or any other trading plateform then moving it to your crypto wallet.
- Choosing Your First land of Virtual Real Estate in the metaverse
How much is a land in metaverse?
The average price of properties on the four major platforms has doubled to $ 12,000 in six months over the past year, according to a report from Republic Realm, which tracks projects related to the Metaverse. As in the real world, location on the map can have a significant impact on Metaverse real estate prices
To our newsletter for all the latest legal news
in South East Asia, Belaws updates and
special promotions on our services.
To our newsletter today for all the latest legal news in South East Asia,
Belaws updates and special promotions on our services.
We are open: Monday – Friday
9 am – 6 pm (UTC+7)