Oswaldo Royett

  Meta Platforms Inc (FB.O) is readying plans to introduce virtual tokens and cryptocurrencies to its family of apps with an aim to use such virtual tokens for rewarding creators and lending and other financial services, the Financial Times reported on Wednesday. The move, which is reported to be in its early stages, comes as Meta grows its focus on services centered around the metaverse, a virtual environment where people interact, work and play. If implemented, it could also give Meta a new revenue channel and control over transactions in its suite of apps and services, which include Facebook, Instagram, WhatsApp and the Meta Quest virtual reality platform. Meta's cryptocurrencies, internally dubbed "Zuck Bucks", are intended for the metaverse and may not be based on blockchain, the FT report said, citing people familiar with the matter. Meta could introduce in-app tokens that would be centrally controlled by the company, the report said, and such tokens could be used t...

Sales of real estate in the metaverse topped $500 million last year and could double this year, according to investors and analytics firms. “There are big risks, but potentially big rewards,” said Janine Yorio, CEO of Republic Realm, a metaverse real estate investor and advisory firm. So far, real estate sales have been concentrated on the “Big Four” — Sandbox, Decentraland, Cryptovoxels and Somnium. Sales of real estate in the metaverse topped $500 million last year and could double this year, according to investors and analytics firms. Real estate sales on the four major metaverse platforms reached $501 million in 2021, according to MetaMetric Solutions. Sales in January topped $85 million, the metaverse data provider said. It projects that at this pace sales could reach nearly $1 billion in 2022. The recent surge in sales was sparked by Facebook’s Oct. 28 announcement that it was rebranding as Meta to focus on the metaverse. Real estate sales surged nearly ninefold, to $133 million,...

Apple CEO Tim Cook said that the company sees a lot of potential in the metaverse, which he related to the company's current AR/VR endeavors, and added that the company is investing in the space. Leaks and rumors point to Apple taking on a major role in the virtual reality future dubbed "metaverse" by some. During an Apple earnings call, Apple's CEO Tim Cook confirmed that the company is interested in this development and is already invested with a commitment to augmented reality. Specifically, Cook said that "we're a company in the business of innovation," and "we have over 14,000 AR apps in the App Store" when asked about the metaverse. This response has been the general go-to for the CEO when pressed about AR/VR or other items in that realm. However, Cook added that Apple sees "a lot of potential" in the space and is "investing accordingly." Notably, cook never said the word "metaverse" in his answer. The metave...