The Latest Breaking News from metaverse

Chinese tech giants like Tencent Holding Ltd (OTC:TCEHY) and TikTok parent ByteDance Ltd implemented fresh layoffs affecting thousands of employees in their latest round of cost-cutting, the Wall Street Journal reports. The job cuts added on to the tens of thousands of employees already axed by Chinese internet companies since late 2021 after the domestic regulatory crackdown crushed the…

The Ministry of Digital Economy and Society (DES) is pinning its hopes on Thailand becoming an early adopter of so-called metaverse technology and applying this for commercial use in order to reap the benefits.

What happened: Virtual land tokenized as an NFT just sold for $8,798, which is 2.80x the current floor price of 2.63 Ethereum (CRYPTO: ETH) ($8,798 USD). The collection consists of over 97,000 plots of land –– at the current moment each plot Land parcels are 16m x 16m, or 52…

What happened: Virtual land tokenized as an NFT just sold for $21,114, which is 6.72x the current floor price of 2.63 Ethereum (CRYPTO: ETH) ($21,114 USD). The collection consists of over 97,000 plots of land –– at the current moment each plot Land parcels are 16m x 16m, or 52…

Siemens has signed a partnership agreement with chip designer Nvidia Corp to create an industrial metaverse - an enhanced virtual reality for companies to reduce the costs of running their factories, buildings and speed up new product design. The deal is a cornerstone of Siemens Xcelerator, a new open digital…

Walmart Inc (NYSE: WMT) agreed to acquire Memomi, an augmented reality (AR) optical tech company. The financial terms of the transaction remain undisclosed. Memomi is a leading technology provider for enhancing virtual optical try-on experiences, helping customers virtually "try on" eyewear in real-time for a seamless, easy, and fun omnichannel experience. Since 2019, Memomi…

Meta Platforms, Inc (NASDAQ: META) faced the heat over its metaverse activity fees, the Financial Times

Tencent Holding Ltd (OTC:TCEHY) acknowledged setting up a unit focused on exploring the space to tap multiple opportunities in extended reality (XR) technologies in the next 4-5 years, Reuters reports. Gaming chief Steven Ma disclosed that Tencent had set up an XR business line to combine hardware and software, betting on most…

As the ABC's Innovation Lab hosts the first of a series of media industry symposiums in Sydney this week, Paul Donoughue gives an insight into how content, platforms and audience demands might change in the next decade.