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Mark Zuckerberg on his big metaverse bet: ‘I feel a responsibility to go for it.’ – Protocol

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Delta Reality Joins VR/AR Association

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Croatian mixed reality (MR) studio Delta Reality announced in a LinkedIn post last Tuesday that it would join the Virtual and Augmented Reality Association (VRARA) as a member of its board of global stakeholders.

Delta Reality is creating extended reality (XR) immersive experiences for global brands to accelerate virtual, augmented, and mixed reality (VR/AR/MR) adoption and assist firms in developing modern marketing strategies.

 

The Croatian firm offers customers a rich XR asset library worth thousands to improve audience engagement and currently works with global XR-backed firms and brands such as Disney, Microsoft, Samsung, T-Mobile and many more.

Additionally, Delta Reality has designed its robust XR ecosystem as hardware agonistic, providing strategic partners with heightened distribution abilities and flexibility for their XR projects.

Supported devices from firms include Meta’s Quest series, HTC VIVE, Microsoft HoloLens, Magic Leap, Nreal, and Pico Interactive. Furthermore, Delta Reality supports a selection of software development kits and real-time 3D engines such as Unity, Snap Studio, and ARCore.

Delta Reality listed its Museum of Digital Life (MoDaL) as a piece of NFT real estate worth roughly 8.88 ETH (approximately £14809) in September last year.

Delta Reality designed the MoDal NFT as a Metaverse gallery to explore the intersection of art, technology, engineering, and mathematics in digital environments supporting 2D and 3D art exhibitions.

The VRARA and Global Metaverse Markets

The news comes after the VRARA held its Metaverse 2.0 event this March, hosted by its Immerse Global Summit division. At the event, XR thought leaders explored Metaverse laws and best practices, as well as keynotes to explore cryptocurrency, blockchain, NFTs, and virtual real estate with attendees.

The VRARA also hosts events throughout the year, including its Global European Summit, VRARA Education Forum, and Immerse Global Summit events.

The VRARA’s board includes global industry figures representing advertising, retailers, brands, and XR component vendors. The association also hosts several yearly events to promote XR technology and adoption, including speakers from immersive firms such as Lenovo, Meta Platforms, HP, and Vuzix.

The news comes amid a spike in Metaverse real-estate transactions, which broke records in October last year after investors bought virtual plots of land on Decentraland and Axie Infinity for $2.43 million and $2.3 million, respectively.

 

 



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As Shiba Inu’s ‘The Metaverse’ sale tokens tank, here’s the full story

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“For what shall it profit a man, if he shall build a metaverse, but lose his investors?” This is what the developers of Shiba Inu are pondering.

With the promise to make its investors and other interested members of the public “landowners”, the Shiba Inu ecosystem last month launched its Shib Metaverse. The sale of lands on Shib: The Metaverse was in three phases; the Bid Event and the Holders event being the first two phases and the Public Sale being the third phase.

In the first two phases, LEASH and SHIBOSHI tokens were used to drive the land sale project as only the holders of these tokens were allowed to bid and purchase lands. During the Bid Event and the Holders Event, data from Etherscan revealed that investors spent 6280 ETH to acquire lands on the Shib Metaverse.

In April, the ecosystem kickstarted the public sales phase wherein anyone interested would be allowed with their LEASH tokens, to acquire the remaining lands on the Shib Metaverse.

However, it is interesting to note that since the last phase of the land sale commenced, the LEASH Token continually took on a downtrend and shed over 50%. What else did we spot in the last 23 days?

The red days

The public sale of land on the Shib Metaverse commenced on 23 April. Starting this journey at an index price of $999, the LEASH token within the time under review, declined by a whopping 52%.

Recording a measly increment of 0.3% in the last 24 hours, the token, despite being the primary token used to conduct the sale of land on the Shib Metaverse, its worth continued to suffer a decline. With an ATH of $4,528.43 recorded 11 months ago, the token declined by over 80% with a current price of $485.06.

Source: CoinMarketCap

Far from over

More troubling news for investors as a consideration of movement on price charts revealed significant bearish divergence during the period under review. Since 8 April, increased selling pressure was spotted on price charts.

Since the public sale commenced the RSI maintained a position below the 50 neutral position on a downward trend into oversold regions. At the time of press this stood at 39.

Similarly, the RSI for the LEASH Token toed a similar progression. Deep in the oversold position of 0.17 at the time of press, significant distribution of the LEASH token was ongoing. Since public sales began, it also retained a position below the 50 neutral region and went further downwards. 

In addition, the MACD movement was another indication of a bearish bias during the period under review. Intersecting with the trend line on a downward trend since 8 April, the LEASH Token seemed to have seen better days.

LEASH/USDT | Source: TradingView

For whom the bell tolls

Despite  being the primary token used to conduct the sale of lands on the SHIB Metaverse, no significant traction has been recorded so far. With current price movements, the token might be a long way from reclaiming its ATH of $4000.





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Metaverse ETFs are underperforming gaming ETFs; Cryptos return to the red

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Public interest continues to grow about the metaverse, but not as much in metaverse ETFs. Does crypto belong in everything?

Good morning. Here’s what’s happening:

Prices: Bitcoin and most other cryptos return to the red.

Insights: Metaverse ETFs are struggling to keep pace with gaming ETFs.

Technician’s take: BTC’s upside appears limited despite short-term support.

Prices

Bitcoin (BTC): $29,982 -3.4%

Ether (ETH): $2,030 -4.7%

Biggest Gainers

There are no gainers in CoinDesk 20 today.

Biggest Losers

AssetTickerReturnsDACS Sector
Internet ComputerICP−9.4%Computing
FilecoinFIL−8.3%Computing
CosmosATOM−7.7%Smart Contract Platform

Bitcoin and other cryptos falter

That didn’t last long.

A day after bitcoin broke a week-long losing streak, the largest cryptocurrency by market cap and other major cryptos were in the red again on Monday.

Bitcoin was recently down over 3% over the previous 24 hours and has fallen seven consecutive weeks. Still, it spent much of the day near or above the psychologically important $30,000 level. “As far as the last 24 hours, we’ve seen a consolidation from six to eight weeks of sell-off,” 3iQ Digital Asset’s Head of Research Mark Connors told CoinDesk.

Bitcoin and other cryptos’ performances dovetailed with equity markets, which dropped slightly on Monday and have been tumbling since last fall as inflation and supply chain issues continued to surge and investors became more risk averse. The tech-heavy Nasdaq dropped more than a percentage point on Monday.

Such growing cautiousness fanned last week by the collapse of the terraUSD stablecoin (UST), and the luna token that supports it, rocked altcoins particularly hard over the past week. On Monday, AXS and AVAX were recently down 12% and 8%, respectively. SOL declined more than 6%.

Ether, the second-largest crypto by market cap, fell over 4.6%, although it held fast above $2,000.

“In equities, you’ve taken almost a year of returns off so [there was] a rapid resetting as the Fed hiked [interest rates] in the first week of May,” Connors said. “You’ve seen digital assets, bitcoin, ether and the rest of the altcoins fall. What’s happened is there’s been a stabilization. What people are assessing is whether the interest rate hike has been taken out. In our opinion, it hasn’t.

Trading volume rose from the lower levels to which it hewed for the first few months of the year, a sign of a potential, and at least temporary upswing. But few analysts are predicting a more permanent departure from the the current bear market. The coming weeks may be particularly hard on stablecoins even as Terraform Labs CEO Do Kwon released a “revival plan” to save the Terra network. Kwon proposed forking Terra into a new chain without UST.

Connors said that investors would likely see three to nine months of “choppy markets,” and that prices would likely drop, possibly with support in the $20,000 to $24,000 range. In this environment, he sees investors focusing more on Bitcoin and Ethereum. “Bitcoin dominance should and will happen when markets sell off,” Connors said. “People go to quality, but it seems that Ethereium is now building up as a number two quality asset in the ecosystem.”

Markets

S&P 500: 4,008 -0.3%

DJIA: 32,223 +0.08%

Nasdaq: 11,662 -1.2%

Gold: $1,824 +0.6%

Insights

Metaverse ETFs are struggling to keep pace with gaming ETFs

Sometimes a fancy new investment vehicle, most recently the metaverse, doesn’t perform as well on the market as last year’s model.

Metaverse exchange-traded funds (ETF) arrived last year shortly after the term entered our lexicon and became a favorite of venture capitalists. Because the metaverse is simply a mashup of gaming and crypto, these metaverse ETFs look a lot like gaming or eSports ETFs (the two terms are synonymous), which launched a few years ago.

They look like them because the metaverse is an ambiguous term; the shared online experience that is envisioned in Neil Stephenson’s science fiction novel “Snow Crash” already exists on many multiplayer gaming platforms. Metaverse tokens don’t yet have listed proxies, so metaverse ETFs compensate for that by putting in publicly listed crypto companies like Galaxy (GLX.TO) or Block (SQ), the former Square. And that’s where the problem starts.

Roundhill Ball Metaverse ETF (TradingView)

That association with crypto means that METV, a metaverse ETF from Roundhill, is significantly underperforming ESPO, a gaming/eSports ETF from VanEck.

Gaming tech heavyweights, like GPU designer Nvidia (NVDS) or game engine developer Unity, are in both baskets and haven’t performed well on-year but the inclusion of the likes of Galaxy Digital – down over 60% year-to-date and planning a stock buyback  – really sinks the metaverse ETF.

Of course, this metaverse ETF is outperforming the metaverse tokens themselves: The Sandbox’s eponymous token (SAND) is down nearly 77% and Decentraland’s MANA is at 68% mainly because both have struggled to attract a player base that reflects their valuation.

There’s an irony here. The metaverse, which is a way to sell crypto-plus-gaming as a re-branded product, is doing better on the market than plain vanilla gaming itself.

Maybe crypto doesn’t belong in everything?

Technician’s take

Bitcoin daily chart shows support/resistance. (Damanick Dantes/CoinDesk, TradingView)

Bitcoin (BTC) is stabilizing around the $30,000 price level after last week’s sell-off. The cryptocurrency must remain above the $27,000-$30,000 support zone this week in order to generate a positive short-term momentum signal.

BTC was down by as much as 3% over the past 24 hours.

The relative strength index (RSI) on the daily chart is rising from oversold levels, which could keep buyers active at support. The RSI is also oversold on the weekly chart, although negative momentum could cap upside moves in price.

Immediate resistance is seen at $33,000 and $35,000, which is where a breakdown in price occurred earlier this month. That suggests a large number of sell orders could limit a relief rally over the next two weeks.

Further, the recent underperformance of alternative cryptos (altcoins) relative to bitcoin suggests a lower appetite for risk among crypto traders. Typically, alts decline by more than bitcoin during down markets because of their higher risk profile. The broader risk-off environment could keep BTC’s short-term downtrend intact.

Important events

Cosmos Gateway Conference

Permissionless DeFi Conference

9:30 a.m. HKT/SGT(1:30 a.m. UTC): Reserve Bank of Australia minutes

8:30 p.m. HKT/SGT(12:30 p.m. UTC): U.S. retail sales (MoM/April)



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