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Flipkart, the Indian commerce giant, will allow customers to buy items in the metaverse

Flipkart, the Walmart-backed Indian e-commerce giant, has launched a pilot program to let its customers experience shopping in a metaverse environment. The company announced the launch of its own metaverse, called Flipverse, in which different brands will be able to offer their own shopping experiences.

Flipkart to Launch Flipverse: A Shopping Metaverse

Flipkart, one of the largest e-commerce companies based in India, has announced that it will test its own shopping experience in the metaverse. Called Flipverse, this metaverse will allow customers to experience shopping as if they were physically present in an online store through their smartphone.

According to the company, the experience wants to bring gamification and loyalty points to the shopping experience, allowing customers to accumulate supercoins and digital collectibles from different brands that are already accredited to be part of this pilot program.

To create the new platform, Flipkart partnered with eDAO, a company incubated by Polygon, to prepare the metaverse experience for launch this month. The company has already signed up several key partners, including Puma, Noise, Nivea, Lavie, Tokyo Talkies, Campus, VIP, Ajmal Perfumes, and Himalaya, who will be able to offer their own custom booths and experiences in the Flipkart metaverse.

A Flipkart executive stated:

The idea is to get millions of users to experience Flipverse and open the door to the future of shopping. Fifteen years ago, we were the first Indian company to launch Web 2.0-based commerce. And I feel that today we are the first company to launch Web 3.0 commerce.

Retail and the metaverse

While metaverse retail experiences have been fairly limited so far, with video from 2017 resurfacing this year showing an example of how shopping would be done in a hypothetical Walmart-themed metaverse, Flipkart and Polygon believe there is a great opportunity in the future for that. type of virtual shopping experience.

Sandeep Narwal, co-founder of Polygon, stated:

While we're just beginning to scratch the surface of what's possible in the metaverse, we see e-commerce as one of the defining use cases. Combining top brands with Flipkart's eCommerce expertise in a virtual environment revolutionizes online retail as we know it.

Walmart, which owns 72% of Flipkart, already made its first metaverse move into the Roblox universe in September, launching two experiences called “Walmart Land” and “Walmart’s Universe of Play.”

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Spanish Football League Laliga partners with Globant to support new Web3 and Metaverse initiatives

Laliga, the top soccer league in Spain, announced a partnership with Globant, an Argentine software giant, to bring Web3 and metaverse experiences to its fans. The association will combine Globant’s technological resources with Laliga’s technology division to create products that expand the organization’s reach in the digital world.

Laliga asks Globant to help him build his metaverse stack

Large sports organizations are approaching the digital world as a way to reach new fans and offer new interaction possibilities for their users. Laliga, the main football league in Spain, recently announced a partnership that will serve to expand the company’s digital reach. The organization has partnered with Globant, a software giant based in Buenos Aires, to create metaverse and Web3 experiences for current fans and new users.

These new additions would complement the current digital offer of Laliga’s technology division, which currently includes fantasy games, web design and development, among other areas. The press release outlining the deal hints at possible game development using these new technologies. However, no specific products were announced directly as a result of the partnership.

Oscar Mayo, CEO of Laliga, stated:

LaLiga Tech was created to help sports and entertainment accelerate their digital transformation, and the increase in demand we have seen shows that it remains a core priority for the industry. Partnering with Globant will allow us to continue this growth on a global scale while creating the most immersive and valuable technologies for our customers.

Laliga metaverse movements

Laliga is one of the sports league organizations that has been making several moves to digitize part of its operations. This month, the company partnered with Ethereum-based metaverse platform Decentraland to offer licensed IP experiences in one of the packages available in its metaverse. In addition, the organization recently launched its own application, called MAS, which includes blockchain technology to protect the identity of its followers.

Additionally, the company is entering the traditional game asset market by offering licensed products in Mojang’s Minecraft block game. In the game, users will be able to purchase a pack of skins to equip any character with jerseys from the different teams present in the Laliga squad.

Laliga has also featured NFT-based projects before. In 2021, it partnered with Dapper Labs, makers of NBA Top Shots and Cryptokitties, to issue NFTs depicting the greatest moments in league history.

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Fidelity Launches Multi-Level Learning Center in Metaverse

Fidelity Investments, a leading financial services company with $11.3 trillion in assets under management, entered the metaverse with the opening of an eight-story learning center and the launch of a metaverse exchange-traded fund (ETF). Fidelity Stack features “a multi-level layout complete with a lobby, dance floor, and rooftop garden for users to explore on foot, or even by teleportation.”

Fidelity enters the metaverse

Fidelity Investments on Thursday announced the grand opening of “The Fidelity Stack,” which the exchange described as its “first immersive metaverse experience designed to offer a new way to learn the basics of investing.” Fidelity is one of the largest financial services companies; it currently has $11.3 trillion in assets under management.

Fidelity Stack is an eight-story building in the metaverse where visitors can learn about different ways to invest. An entire floor is dedicated to providing information on the Fidelity Metaverse ETF (FMET), the company’s new exchange-traded fund focused on metaverse investments. Fidelity explained:

Built in Decentraland, the Fidelity Stack features a multi-level layout complete with a lobby, dance floor, and rooftop garden for users to explore on foot, or even by teleportation.

“In Invest Quest on The Fidelity Stack, users are challenged to walk the building learning the basics of ETF investing while collecting ‘orbs’ along the way,” the ad continues.

Decentraland is an Ethereum-based metaverse open to the public in January 2020. In February, global investment bank JPMorgan chose Decentraland as the metaverse platform to open its lounge.

Kathryn Condon, director of marketing channels and emerging platforms at Fidelity, commented:

The way we relate to each other and our money is changing rapidly, whether it is due to the rise of blockchain technology or the development of a new digital universe. Our foray into the metaverse was designed with that in mind.

Last month, Citi predicted that the metaverse could be a $13 trillion opportunity with five billion users by 2030. Global investment banks Goldman Sachs and Morgan Stanley believe the metaverse is a $100,000.8 trillion opportunity.

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Fidelity Investments expands its offerings by focusing on the metaverse and ETFs

The international investment firm Fidelity Investments has decided to invest in companies from the metaverse. Fidelity Investments has now launched four new exchange-traded funds (ETFs) that would focus on two new products to take advantage of the nascent Web3 space.

ETFs will focus on three broad criteria, namely cryptocurrencies, metaverse and environment, society and governance (ESG).

The Fidelity Metaverse ETF (Ticker FMET) and the Fidelity Crypto Industry and Digital Payments (FDIG) ETF went live on Thursday, April 21.

The Fidelity Crypto Industry and Digital Payments ETF does not provide direct access to cryptocurrencies, but will invest in the companies that support the digital asset industry.

Fidelity Investments will be responsible for building and contributing to the “future state of the Internet”.

Competition in the already crowded metaverse?

Fidelity is entering an already saturated market, where a dozen ETFs are already trading on the market. In addition, there are many companies that have decided to launch “themed” funds for younger generations.

We continue to see demand, particularly from young investors, to access fast-growing industries in the digital ecosystem, and these two themed ETFs offer investors exposure in a family-friendly investment vehicle, said Greg Friedman, Managing Director and Chief ETF Strategy Officer at Fidelity. .

As mentioned above, younger generations have become increasingly familiar with the metaverse.

Along with that, a lot of awareness of where the metaverse could be headed has led the younger generation to explore further.

BlackRock Inc. is one of those companies that has focused on “themed” funds that cater to the younger population.

Fidelity may face stiff competition when it comes to the themed environment, with many companies already operating in the space. However, the size and scale of the company will likely give it an edge over its immediate competitors.

Bloomberg Senior ETF Analyst Eric Balchunas also mentions in his tweet that the investment firm reportedly entered the market at the lowest rate among the other four ETFs tracking the Metaverse.

Fidelity also recently released a Decentraland-based metaverse called the “Fidelity Stack”. This is intended to educate retail investors on the basics of investing.

Related Reading | How Crypto Company Circle Announces $400 Million Backed by Giants BlackRock and Fidelity

Fidelity also intended to launch a Bitcoin Spot ETF

Fidelity continued to push this revolutionary idea to democratize the investments that are ETFs. However, the Securities and Exchange Commission failed to comply.

The US financial regulator has yet to make a decision on this, which is now making the funds launch in other countries with much less difficulty.

For example, Fidelity has just successfully launched the ETF in Canada.

Australia would also receive two Bitcoin Spot ETFs that have been approved for launch in the country.

The asset manager continues to prepare to launch the Cosmos Purpose Bitcoin Access ETF, which refers to investing in the Canadian Purpose Bitcoin ETF.

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British Investment Bank HSBC joins Metaverse through Sandbox and Animoca Brands Partnership

British multinational investment banking and financial services holding company HSBC has revealed that it has partnered with blockchain virtual gaming platform The Sandbox. According to the platform’s parent company, Animoca Brands, HSBC is the first global financial services provider to enter the Sandbox metaverse.

HSBC takes a step into the metaverse

Over the past 12 months, Sandbox has attracted a number of companies and celebrities to the blockchain virtual gaming platform. For example, The Sandbox attracted Snoop Dogg, Deadmau5, Atari, The Care Bears, The Smurfs, Gucci, Warner Music Group, Adidas, PWC Hong Kong, Samsung, Square Enix, Ubisoft, and more.

On Wednesday, Animoca Brands and British bank HSBC announced that the companies have signed a partnership agreement and that the global financial services provider will engage with other financial providers and sports communities within the Sandbox metaverse.

“The innovative partnership between The Sandbox and HSBC will see the global financial services provider acquire a share of LAND, virtual real estate in The Sandbox metaverse, which will be developed to engage and connect with sports, esports and gaming enthusiasts.” , says the statement. Ads. in Wednesday’s notes.

The press release highlights a PWC report that estimates the metaverse market will grow from $45.4 billion to $1.5 trillion by 2030. Financial institution HSBC sees significant potential in the metaverse and Web3 in the future.

“The metaverse is how people will experience Web3, the next generation of the Internet, using immersive technologies such as augmented reality, virtual reality and extended reality,” said Suresh Balaji, chief marketing officer for HSBC Asia-Pacific, in a statement. The HSBC executive added:

At HSBC, we see great potential to create new experiences through emerging platforms, opening up a world of opportunity for our current and future customers and the communities we serve.

Native Token SAND hits 336% against the US Dollar in 12 months

The Sandbox blockchain metaverse has seen tremendous growth over the past year, and according to nonfungible.com’s NFT market tracker, Sandbox is the third largest project in the last seven days in terms of sales, with a weekly volume of 7,000. 6 million dollars. Additionally, the project’s native SAND token has gained 336.2% year-to-date, according to current market statistics.

At the time of writing, SAND’s $3.3 billion market capitalization represents 0.18% of the $1.86 trillion valuation of the crypto economy. Following Animoca Brands and HSBC’s partnership announcement, the SAND gained more than 9% against the dollar on Wednesday.