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Nifty News: Chinese firms to offer World Cup metaverse viewings, X2Y2 backtracks on royalties, and more

In early November the Chinese government made an ambitious plan to boost the nation’s VR industry, now it seems local tech companies are using the World Cup to test-run their…

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New York Fed and 9 Major Banks to Test ‘Interoperable Network of Central Bank Wholesale Digital Money’

Nine major financial institutions and the Federal Reserve Bank of New York have started to experiment with a digital dollar proof of concept to see if distributed ledger technology can…

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Metaverse of Entertainment Expected to Grow to Almost $29 Billion Driven by Consumer Spending by 2026, Study Says

A study from Technavio, a market research firm, has predicted that the area of the metaverse dedicated to entertainment, including virtual concerts, video games, and movies, will grow to $28.92…

Continue ReadingMetaverse of Entertainment Expected to Grow to Almost $29 Billion Driven by Consumer Spending by 2026, Study Says

State-Run Chinese Newspaper Economic Daily Warns Against ‘Betting Big’ on the Metaverse

Economic Daily, an economic newspaper run by the Chinese state, has published an article noting problems with investing in the metaverse. The article says that metaverse investments might not be…

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Chinese Government Releases VR Research Plan Including Metaverse and Odor Simulation

The Chinese government has presented a plan of action regarding the inclusion of virtual reality (VR) and augmented reality (AR) in the lives of the Chinese people. The plan contemplates…

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