NFT company Yuga Labs is set to acquire a metaverse-building startup to advance its Otherside metaverse project.
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In this week’s newsletter, read about why the food and beverage nonfungible token (NFT) market is set to exceed $2 billion by 2032, check out the Bruce Lee avatar that has made its way into the metaverse, and how the British Museum uses the virtual universe to teach world history. In other news, find out how NFT-styled debit cards can be the future of Web3, and don’t forget this week’s Nifty News, featuring Yuga Labs acquiring a metaverse studio.
A report by Research and Market predicted that the global food and beverage NFT market will exceed $2 billion by 2032. According to the report, key supporting factors for the growth include blockchain adoption and the demand for NFT transparency and traceability within the food industry.
Within the industry, various brands like Pizza Hut and Papa John’s have already started dipping their toes into the space after releasing NFT collections.
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Metaverse platform The Sandbox has partnered with The British Museum to create user experiences to dive into world history. The partnership will allow the museum to generate digital collectibles that reflect various collections inside it.
According to The Sandbox’s co-founder Sebastien Borget, this is an opportunity for players to learn about human history, art and culture through the British Museum.
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An avatar of popular actor and martial artist Bruce Lee will teach martial arts in the metaverse through a tribute event. The metaverse platform Byte Dance hosts the event in partnership with Bruce Lee’s daughter Shannon Lee.
Users who minted avatars on Ethereum and Polygon can use their playable characters within the Byte City metaverse to interact with the Bruce Lee avatar. The game can be played on desktop and mobile devices.
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In an interview with Cointelegraph, Animoca Brands co-founder Yat Siu expressed confidence in the potential of customizable NFT-styled crypto debit cards. According to Siu, this is an example of the shift toward personalization, where Web3 can let users express themselves in new ways.
Siu’s investment firm has also earmarked $30 million for the neobank platform called Hi. The platform’s crypto-friendly debit card lets users personalize their physical cards with their NFT avatars.
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NFT company Yuga Labs is set to acquire Roar Studios, a metaverse-building startup, as it aims to further its Otherside metaverse. Meanwhile, Etihad Airways, one of the two national airlines of the United Arab Emirates, has announced an NFT staking loyalty program called Horizon Club.
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