Virtual Makrip anyone?
McDonald’s filed a trademark registration for a virtual fast food restaurant, as well as virtual goods and services, with the United States Patent and Trademark Office in February, jumping on the “metaverse” bandwagon.
The metaverse is viewed as an immersive online space where users can play games and interact with others as an avatar in a computer generated environment.
According to industry experts, people will be able to shop and attend virtual concerts as well as sporting events in the metaverse.
The fast-food giant’s franchise hopes to operate virtual restaurants that “offer real and virtual products” and “run a virtual restaurant online with home delivery,” according to the brands app.
On February 4, McDonald’s also submitted an application to the brand hoping to eventually offer entertainment services, “specifically, providing real and virtual online concerts and other virtual events,” the app states.
FILE – In this illustration, a silhouette of a woman holding a smartphone with the McDonald’s corporate logo projected onto the screen. (Rafael Henrique/SOPA Images/LightRocket via Getty Images)
The idea of buying an item you can’t touch or an event you don’t personally experience is fueling a frenzy among investors and artists looking to make money from the virtual market.
For example, non-fungible tokens, known as NFTs, inspire a bit of a “gold rush mentality,” said Larry Cheng, managing partner of Volition Capital, a London-based growth capital firm. Boston, for FOX Business during an interview in January. .
Cheng, who focuses on investment opportunities in Internet applications, e-commerce and consumer products, said Varney & C. that there has been a “massive explosion” of interest and investment in NFTs, “which are truly metaphysical fibres.”
“It’s what allows you to own real estate,” he explained, describing NFTs. “They are what allow you to have virtual goods in the metaverse etc and they are skyrocketing right now.”
Cheng pointed to data that highlighted NFT’s massive sales growth.
The total value of all NFT sales that occurred in 2021 was $23 billion, compared to less than $100 million in 2020, according to data published by DappRadar and noted by Cheng.
DappRadar noted in its 2021 Industry Report that “the NFT space has seen one of the most impressive expansions overall.”
The report notes that “the prospects for the virtual and virtual worlds are inextricably linked to the success of NFTs and blockchain gaming, and they are indeed promising.” “However, after the announcement of Facebook’s rebranding, expectations for metaverses rose positively.”
What is NFT?
In economic terms, a redeemable token is an asset that can be traded on a one-for-one basis. Think dollars or bitcoins – they all have exactly the same value and can be traded freely. On the other hand, something that cannot be exchanged has a distinct value of its own, such as an old house or a classic car.
Combine this idea with a cryptocurrency technology known as blockchain and you will have an NFT. These are actually digital certificates of authenticity that can be attached to digital art or, pretty much, anything in digital form – audio files, videos, animated posters, this article you’re reading.
File – The Bored Ape Yacht Club Non-Fungible Token (NFT) set at the OpenSea Marketplace on a computer located in Hastings-on-Hudson, New York, USA on Friday, April 8, 2022. (Tiffany Hagler Gerd/Bloomberg via Getty Images)
Who sells NFTs?
“Star Trek” famed William Shatner sold 90,000 virtual trading cards last year for $1 each. Electronic musician Grimes sold $6 million worth of his digital art last month, including a music video of a winged cherub floating in landscapes of pastel dreams that sold for $389,000. Videos of NBA star LeBron James Dunk sell for up to $225,000. Actress Lindsay Lohan has sold a picture of her face. You can also buy virtual land in video games and meme characters like Nyan Chat.
Digital artist Ann Spalater started out as an NFT skeptic but has now sold many artworks using tokens. The most recent was a video titled “Dark Castles” – mysteriously deformed castles created by artificial intelligence technology – that sold for $2,752.
“NFTs opened art to a whole group of people who would never have gone to a gallery in New York,” said Spalter, a pioneer of digital fine art classes at Brown University and the Rhode Island School of Design in the 1990s. They are investors, they are tech entrepreneurs, and they are in this world.”
What is Metaverse?
Think of it as the internet resurrected, or at least rendered in 3D. Mark Zuckerberg, CEO of Facebook, described it as a “virtual environment” that you can get into – rather than just staring at a screen. It is basically a world of endless interconnected virtual communities where people can meet, work and play, using virtual reality headsets, augmented reality glasses, smartphone apps or other devices.
It will also include other aspects of online life such as shopping and social media, according to Victoria Petrok, an analyst who tracks emerging technologies.
“It’s the next evolution of connectivity where all of these things begin to converge in a similar and similar world, so you live your virtual life the same way you live your physical life,” she said.
FILE – An attendee uses a virtual reality (VR) headset at the Metaverse Summit booth during the Paris NFT Day conference in Paris, France, Tuesday, April 12, 2022. (Benjamin Gerrit/Bloomberg via Getty Images)
More companies join the metaverse
In January, Walmart revealed plans to join other companies in offering cryptocurrency and NFTs.
The December 30, 2021 file, included in the retailer digital advertising business “Walmart Connect,” describes a financial transaction service that includes cryptocurrency, NFT, and blockchain technology that will be used by members of the online community over a global computer network.
“Walmart is constantly exploring how emerging technologies can shape future shopping experiences,” a spokesperson for FOX Business said.
The retailer also appears to be paving the way for its entry into the Metaverse.
Separate apps called “Verse to Store,” “Verse to Curb,” and “Verse to Home” reveal plans for home shopping and online ordering services, while another volume searches for Walmart name brands and the “fireworks” logo for health services and education In virtual and augmented reality.
In December 2021, it was revealed that Ralph Lauren was rushing to settle in Metaverse. The fashion brand opened its doors to the online world of Roblox, with 47 million daily active users, Forbes reported, noting that Ralph Lauren was stocking its virtual stores with “virtual puff jackets, plaid beanies and hats. Season, under $5.”
De plus en plus d’entreprises entrent dans l’espace, avec The Walt Disney Co. obtenant l’approbation d’un brevet pour projeter des images 3D sur des objets du monde réel dans des parcs à thème, a rapporté le Los Angeles Times in January.
After announcing plans to buy Activision Blizzard Inc. Microsoft, the creator of “Call of Duty” and “Candy Crush,” has indicated that a $68.7 billion deal has been sealed in part to extend to the metaverse.
“Gaming is the fastest growing and most exciting entertainment category on any platform today and will play a major role in the development of the metaverse platforms,” said Satya Nadella, CEO of Microsoft. “We are investing deeply in world-class content, community, and the cloud to usher in a new era of gaming that puts gamers and creators first and makes play safe, inclusive and accessible to all.”
The Associated Press and Fox Business contributed to this report. This story was reported in Los Angeles.