This Week In The Metaverse: The Degree Hosts Virtual Marathon, Bored Ape Yacht Club Instagram Hacked

Things are moving fast in the metaverse and the wider world of Web3 as a whole. Depending on who you ask, this futuristic blockchain-based space is either the next big thing for marketing – and pretty much everything else – or an overrated fashion. Here’s what you need to know from the past week:

The degree hosts “Metathon”, which aims to promote inclusivity in the meta-verse

The deodorant company Degree recently hosted the first virtual marathon ever held on the popular metaverse platform Decentraland. The event, called “Metathon”, was designed to promote inclusivity in Metaverse. By positioning itself as a brand committed to working towards “a more inclusive world where everyone has the confidence to move more,” Degree conducted a survey of virtual landowners in Decentraland and found that 98 % of respondents “support the movement in Decentraland more accessible and inclusive for people with disabilities. The brand worked with” disability experts “the Paralympic Blake Leeper and rapper Fat Joe – known for his” advocacy for representation “, according to the brand – to create a virtual race designed to make people at all levels of physical fitness feel welcome.In collaboration with Decentraland, the brand has developed avatar clothing that reflects the reality of many members of the disability community, including prostheses, a wheelchair and running magazines. According to Degree, these portable devices “provide better representation of people with disabilities and allow participants to create avatars that represent their unique identity. The brand says it does not stop at Metathon; it will continue to promote a more inclusive and diverse metavers in future endeavors, which will include “adding audio description for the visually impaired, implementing a non-binary experience when creating an avatar, building a variety of body shapes and sizes and more .”

Hackers break into Bored Ape Yacht Club’s Instagram and steal nearly $ 3 million worth of NFTs

The official Bored Ape Yacht Club (BAYC) Instagram account – one of the most popular NFT series in the world – was hacked earlier this week, resulting in the theft of millions of NFT dollars. The company tweeted just before 10 a.m. ET Monday: “There is no mint going on today. It looks like BAYC Instagram has been hacked. Do not click on anything, click on links or link your wallet to anything. The hackers, after breaking into BAYC’s Instagram account, posted a malicious link announcing a fake airdrop (crypto language of an NFT distribution). According to CoinDesk, the unfortunate souls who clicked on the link gave hackers control over their wallets. ” approximate estimated losses due to the scam are 4 Bored Apes, 6 Mutant Apes and 3 BAKC, as well as various other NFTs estimated to have a total value of approximately $ 3 million, “a BAYC spokesman told CoinDesk.” We are working active in establishing contact with affected users. “The hack highlights the fact that cryptocurrency, even when protected on a secure blockchain, can be made vulnerable via other technological flaws – in this case a crypto company’s account on social media. Last month hackers in d in Axie Infinity and seized crypto for over $ 600 million. At the time of writing, hackers from the latest BAYC scam are still at large.

Disney sees metavers for ‘next-gen storytelling’

The Walt Disney Company has begun developing a strategy to get into Metaverse, according to the Los Angeles Times. The company reportedly calls its plans metaverse “next-gen storytelling” and will seek to mix elements of its existing business model – including both physical infrastructure such as theme parks and Disney +, its streaming platform – with new virtual experiences. “[I]This is going to take all the amazing stuff we have as a media company with Disney +, and use it as a platform for the meta-verse, Disney CEO Bob Chapek tells the LA Times. “But at the same time, we have something that no one else has, and that is the physical world, a world of our parks. And so, if the meta-verse is the mixture of the physical and the digital in one environment, then who can do it better than Disney? While the details of Disney’s plans are still unclear, this is the latest news from a major media company seeking to assert its position in the burgeoning metavers and its associated blockchain-based technologies. . Major film studios, including Lionsgate and Warner Bros., for example, have recently created their own NFTs. Disney also launched its “Golden Moments” NFT series last year.

Zuckerberg changes his mind about his company’s metaverse expenses

Since changing the name of his company from Facebook to Meta last year, Mark Zuckerberg has stuck to the need to invest huge sums in the company’s development of Metaverse – which Zuck seems to believe with conviction that the future of the Internet will be. But after a period of huge financial losses earlier in the year and facing anxious investors, he is now becoming more frugal. During an earnings call in the first quarter on Wednesday, Meta’s CEO told investors that given the company’s “current growth levels”, the company will “slow down in some of the [its] investments. He also stressed that Meta’s long-term commitment to build Metaverse, which proved extremely expensive in the short term, would ultimately pay off. “In the laboratories of reality [Meta’s tech R&D arm]”We are making significant investments to deliver the next platform that I believe will be extremely important to both our mission and our business – comparable in value to today’s leading mobile platforms,” ​​Zuckerberg told investors during the call. “I recognize that it’s expensive to build this – it’s something that has never been built before, and it’s a new paradigm for computers and social connectivity.” In addition to the meta-verse, Zuckerberg said the company will focus more on Reels – including “short video [and] advanced AI recommendations that drive more of our feeds ”- and ads. Later in the call, Meta CFO Dave Wehner announced that Reality Labs’ operating loss for the first quarter of 2022 was $ 3 billion.

Model Gisele Bündchen and FTX will tell the world why they are “for” Crypto

The crypto-trading platform FTX has launched its first print campaign ever, entitled “In on”, in collaboration with model and philanthropist Gisele Bündchen. The campaign launched yesterday at the SALT Crypto Bahamas conference with a conversation between Bündchen and FTX founder Sam Bankman-Fried, focusing on the company’s “deep-rooted commitment to effective altruism and providing the greatest global impact,” according to a statement from FTX. The conversation will also focus on why Bündchen and Bankman-Fried are “into crypto with FTX,” according to the brand. The “In on” theme is a small change from the “You in?” Theme. a theme the company played on in its latest Super Bowl commercial, which featured Bündchen and her husband Tom Brady – both of whom entered into a “long-term partnership” with FTX last year. Founded in 2019, FTX has become one of the leading companies in the cryptocurrency exchange industry – which as a whole has been plagued by controversy due to the cryptocurrency’s massive environmental impact. . With this latest campaign, it seems that FTX aims to position itself as an environmentally friendly pioneer for the industry, which aims to not only reduce its CO2 footprint, but also give back in many other ways. FTX says it has partnered with Bündchen to donate up to $ 1 billion in 2021 (?) “To charity” through the FTX Foundation, the company’s philanthropic foundation. The FTX community – defined as “a project of the FTX Foundation” – will continue its efforts “to reduce global poverty, save lives and prevent animal suffering,” the company said in a statement. Last year, the company became completely CO2-neutral.

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