Yuga Labs Makes Waves in the Metaverse
In a bold move to expand its horizons, Yuga Labs announced on July 31 that it will acquire Roar Studios, a startup dedicated to building immersive experiences in the metaverse. The acquisition is seen as a strategic step towards enhancing the Otherside metaverse, a project that has intrigued many since its early demos.
Meet the New General Manager: Eric Reid
Stepping into the limelight is Eric Reid, founder and CEO of Roar Studios, who will take the reins as the general manager of Otherside. With his extensive background in entertainment, Reid is tasked with not just keeping the ship afloat, but steering it toward uncharted waters of virtual engagement.
A Talented Team Joins the Ranks
It’s not just Eric who’s making the leap—Yuga Labs is also scooping up Roar’s 14-member team of experts in audio, gaming, and artificial intelligence. Talk about an upgrade! This new talent could be the secret sauce Yuga needs to spice up its metaverse offerings.
Otherside: What We Know So Far
As it stands, the Otherside project has been somewhat enigmatic, with only a handful of early access demonstrations available since it opened up in August 2022. Despite the air of mystery, Yuga’s Daniel Alegre recently emphasized the importance of patience, claiming the project’s audacious nature requires time, much like waiting for your sourdough starter to rise.
Etihad Takes Flight with NFT Loyalty Program
In a world where frequent flyers are treated like royalty, Etihad Airways is introducing “Horizon Club,” an NFT-based loyalty program that offers perks such as priority check-ins and access to exclusive lounges. Scheduled to launch in Q3 2023, this program allows users to stake Ethereum-based NFTs for flight miles—a clever move that combines travel with the tech-savvy NFT universe.
New NFTs for Miles
The upcoming drop includes special designs featuring an Etihad aircraft branded with the latest Mission: Impossible film. Finally, air travel meets blockbuster excitement; would it be wrong to show off such an NFT at a dinner party?
NFT Now Faces Reality Check
The ever-changing blockchain landscape is not without its challenges. NFT Now has confirmed staff reductions due to over-hiring during the crypto boom. Alejandro Navia, the company president, made a candid announcement on social media, stating that rapid growth necessitated adjustments—providing a dose of realism to the otherwise glamorous NFT world.
Adapting to the New Normal
Navia’s candid recognition of the hiring misstep echoes a larger industry trend—one that highlights the volatile nature of the crypto market. As the dust settles, companies will need to rethink their approaches if they wish to thrive long-term.
Sorare Opens the Gates for Fiat Transactions
Meanwhile, Sorare is broadening its appeal by adding support for fiat currencies. Beginning August 1, sports enthusiasts can now purchase NFT trading cards with cash rather than through cryptocurrency. This strategic move is likely to decrease entry barriers and attract a broader, more diverse audience to the NFT sports gaming arena.
Cash Wallet: The New Way to Play
Sorare’s upcoming “Cash Wallet” feature is designed to make purchasing and trading user-friendly, allowing players to rack up those collectible cards without diving into the complex world of ETH.
Groundbreaking Innovations in the NFT Space
As the industry evolves, other noteworthy developments are making headlines. Juggling everything from regulatory challenges posed by lawmakers regarding app store practices to the introduction of Web3 solutions for verifying cultural artifacts, the NFT sphere remains full of surprises. Who said NFTs were just a fad?
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