Meta Faces Tough Market Response as AI Investments Surge and Metaverse Losses Continue

Meta’s shares dropped 15% in after-hours trading following announcements in April of plans for significant investment in AI, alongside a weaker revenue outlook and continued losses in its metaverse division, Reality Labs. The company anticipates its expenses will soar to between $96 billion and $99 billion for the fiscal year, attributing the increase to higher … Read more

Crypto Exchange Okx Partners With Manchester City to Launch Football Shirts Mintable as Digital Collectibles

Okx and the English football club Manchester City have partnered to launch commemorative football shirts that can be minted as non-fungible tokens (NFTs). Fans of Manchester City, the reigning English football champions, will be able to mint the “Unseen City Shirts” digital collectible from April 22-25. Authentic Fan Engagement The cryptocurrency exchange Okx and the … Read more

Stepn Partners With Adidas to Issue Genesis Sneakers NFTs

Stepn, a lifestyle and move-to-earn application, partnered with Germany-based apparel company Adidas to issue the Genesis Sneakers NFT collection. The collection, which marks the start of a one-year collaboration between these organizations, comprises 1,000 NFTs inspired by Adidas’ “most iconic” running silhouettes and cobranded by the two companies. Stepn Teams With Adidas to Issue Co-Branded … Read more

Starbucks Discontinues NFT Program to ‘Prepare for What Comes Next’

Starbucks has said it will discontinue its Odyssey non-fungible token beta program and members “have until March 25, 2024, to complete any remaining journeys.” Starbucks stated on its FAQ page that it will keep its NFT community in mind and is working to find a place for its members to connect in the future. Starbucks … Read more

Upland Introduces Token Reward System With ‘Share and Build’ Airdrop Series

Upland, a popular Web3 metaverse and crypto game, unveiled the inaugural chapter of its “Share and Build” airdrop series on Friday. This initiative is designed to reward players with tokens for their participation. Upland’s Airdrop Series Rewards Community Participation At its essence, Upland is a Web3 metaverse platform dedicated to virtual land ownership and fostering … Read more

Sony Files ‘Super-Fungible Token’ NFT Patent

Sony, the Japanese electronics behemoth, has filed a patent involving the use of non-fungible tokens (NFTs) as part of in-game mechanics. Sony’s patent describes the usage of a “Super-Fungible Token,” an amalgamation of a set of gaming assets, allowing the selection of only one of them per time in the gaming implementation. Sony Files Patent … Read more

Ebay’s Web3 Division Reportedly Lays off 30% of Its Employees

Recently, Ebay, the e-commerce behemoth, implemented significant changes within its Web3 division. These changes resulted in a 30% reduction in the division’s workforce and the departure of a pivotal employee. Among those affected by this restructuring is David Moore, the founder of Knownorigin, a marketplace for non-fungible tokens (NFTs), whose post is redundant. Ebay’s Dedication … Read more