This week in the Metaverse: HODLase Coinbase groups, a hole opens on Roblox

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 fad. Here’s what you need to know from last week:

Despite the recent Crypto crash, Coinbase launches new ads and in-app features

Au milieu d’un crash historique sur le marché de la cryptographie, Coinbase – l’une des plus grandes plates-formes d’échange de crypto-monnaie – semble diffuser un seul message au monde de la cryptographie: HODL (accrochez-vous pour life). This morning, the company aired its second national television advertisement to celebrate its tenth anniversary. (Its first ad aired during the recent Super Bowl.) The ad, titled “Long Live Crypto,” ridicules early praise of the cryptocurrency that was spread online by those skeptical of cryptocurrency’s longevity. The message in the new 30-second announcement appears to be: Cryptocurrency has weathered storms in the past – and will weather those it is currently involved in. In addition to its new announcement, the company announced earlier this week that it is launching new in-app features for some of its users. In a blog post on Monday, Coinbase Director of Product Management Rishi Dean said it was a “small batch” of whether its users would now be able to access decentralized applications (DApps) – such as the popular NFT Marketplace OpenSea – on the Ethereum network, creating an ecosystem A more robust and standardized cryptocurrency trading environment. Eligible users will now also be able to access Decentralized Exchanges (DEX) and interact with a number of Decentralized Finance (DeFi) platforms, according to the blog. This news comes on the heels of the recent downturn in the cryptocurrency market, which wiped out billions of dollars in value from the major currencies and caused a huge drop in Coinbase shares.

Gap opens a flagship store in the Metaverse

Fashion retailer Gap is doubling down on its Metaverse strategy by announcing a new no-purchase virtual experience in Roblox, the popular children’s video game that has evolved into a major shopping mall in the Metaverse. The “Club Roblox Store,” as activation calls it, is created in partnership with SuperAwesome, a technology company that works with “hundreds of brands and content owners to enable secure digital engagement for users.” company. Website. The virtual space is modeled after the company’s flagship store in Times Square. This isn’t Gap’s first project in the expanding world of Web3. In January, the retailer unveiled its first-ever NFT collection, which it had developed in partnership with artist Brandon Sainz, creator of the iconic Frank Abbey character. The upcoming virtual Gap store, set to launch on Friday, follows a series of similar revitalizations from youth apparel brands — such as PacSun and American Eagle — that have been built into Roblox and aim to foster engagement with younger, more knowledgeable fans. .

The US Army adopts the Metaverse for training exercises

The big equation seems to be running through the minds of some senior Pentagon officials. According to a new report from Wired, the US military has invested in emerging technologies that blend the virtual and physical worlds in an effort to improve training methods. Red 6 — the company that is working to “revolutionize augmented reality (AR) for military training applications,” according to its website — is said to be developing “a combination of augmented reality, artificial intelligence, and video game graphics.” This would theoretically allow “American combat pilots to train in air combat against hypothetical enemies, including Chinese and Russian warplanes, while firing multiple Gs,” according to WIRED magazine. Daniel Robinson, founder and CEO of Red 6, told WIRED magazine that his company is building a “military metaverse…like a multiplayer video game in the sky.” Simulating battles in virtual worlds for military training purposes is nothing new. In the 1980s, the US Army partnered with the Defense Advanced Research Projects Agency (DARPA) to launch SIMNET (short for “Simulated Networks”), a program to build a “large-scale network of interactive combat,” according to the Department of Defense Technical. Information center. Video games have long been used for recruitment purposes: In 2002, a first-person shooter video game called “America’s Army” was released to “support US Army recruitment,” according to the game. (The video game was discontinued earlier this month.)

Cannes Film Festival prepares for its inaugural NFT conference

For 75 years, the Cannes Film Festival has represented the very best in creative storytelling. Today, the world-famous festival also wants to play a leading role in the growing conversation about the intersection between entertainment and Web3. On May 23, the first NFTCannes Summit will take place at the Hôtel du Cap-Eden-Roc in Antibes, France. “The inaugural annual event is designed to connect the leading minds from the traditional media and entertainment spaces with Web3’s biggest innovators, innovators and investors, marking a paradigm shift and building meaningful bridges with the burgeoning metaverse,” said event organizers. in a report. Reflecting the rapid adoption of Web 3 by mainstream culture, the invite-only event will also aim to explore “themes spanning the future of current NFT applications in entertainment… fan- and community-building opportunities, live events and experiences, as well as recasting the metaverse as an integration of digital and physical life.”

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