South Korean metaverse and crypto gaming projects could get a massive boost in the weeks ahead – if the results of the next general election go their way, and provided politicians make good on their promises.
As reported, South Korean gaming giants have been all but frozen out of the play-to-earn (P2E) market due to the government’s restrictive stance on crypto and non-fungible tokens (NFTs). Titles like Axie Infinity cannot easily be accessed in the country, and the gaming regulator recently stated that it would be asking app marketplaces to remove P2E titles.
In many cases, this has forced South Korean gaming firms into overseas markets with their blockchain releases – at the expense of the local gaming industry.
But in what may turn out to be a key development, Lee Jae-myung, the Democratic Party nominee in the nation’s presidential elections, has launched a “gaming and metaverse” unit ahead of March’s vote. Lee has previously positioned himself as a crypto-friendly candidate, leading a parliamentary movement that successfully delayed the introduction of a tax on trading profits until 2023.
He has since gone further, speaking of the need to position South Korea at the forefront of crypto innovation in East Asia. Many have accused Lee of desperately trying to curry favor among younger voters, a growing number of whom are keen crypto investors.
Regardless, Lee now appears to have successfully positioned himself as the pro-business and industry 4.0-savvy candidate in what is essentially a two-horse race between himself and the People’s Power Party candidate Yoon Suk-yeol.
The early evidence is that this stance has proved somewhat successful: Despite trailing Yoon in opinion polls late last year, a Realmeter opinion poll last week showed that Lee is now the frontrunner by a narrow margin, and is now winning the support of younger voters. Lee polled at almost 41% with Yoon on just over 39%. Lee also polled ahead of Yoon in every age group except the 60+ demographic, the firm reported.
At an event marking the launch of the Democratic Party’s “Gaming and Metaverse Special Task Force,” Lee was quoted as stating:
“Blockchain, the metaverse and NFTs are new technologies that many people are not familiar with yet, but their ripple effect will be greater if they converge with games. The more powerful the new technology, the more we need to pay attention to the shadows that it casts. Everyone should be able to use technology without discrimination. However, the problem now is that the lower people’s income is, the less accessible the technology is.”
Lee also spoke in “positive” terms about metaverse, NFT, and gaming industry developments and noted that the domestic gaming industry was forecasted to grow to the USD 16.7bn mark in the year ahead, reported Hanguk Jungkyung Shinmun.
Although Lee refrained from making broader promises about regulatory change, the membership of the “task force” is significant – as was the event. A number of key figures from the gaming industry were in attendance, and spoke to the media in glowing terms about the future of P2E gaming.
While they also spoke about creating “a surveillance mechanism” for P2E titles, they also explained there was a need to “approach gaming as a future industry,” and noted that “P2E should be approached as a business model for gaming companies.”
Meanwhile, Donga reported that the value of “South Korean” real estate in the metaverse project Earth 2 is starting to rocket on both domestic and international platforms.
LOS ANGELES–(BUSINESS WIRE)–Dreamium Labs, the world’s leading open metaverse platform developer, announced today it added Lou Kerner to its advisory board.
Mr. Kerner will bring his deep experience in crypto, venture capital and business operations as well as his extensive network to support Dreamium Labs’ hyper scale growth of their open metaverse platform.
“The metaverse is the biggest thing to happen in the history of humanity,” said Mr. Kerner. “I believe the metaverse needs to be open, allowing for decentralized ownership and creation of identities and content by all participants. Dreamium Labs’ Dreamscape Open Metaverse is well positioned to play a leading role in enabling this world changing technology.”
“We couldn’t be more thrilled to add Lou to our team,” stated Mike Rubin, Founder and CEO of Dreamium Labs. “Lou is a brilliant thought leader that joins us in recognizing the importance of breaking out of the restrictive ‘siloverse’ mindset currently adopted by some of the better known platforms. Lou will provide tremendous value through his network and crypto platform to create awareness about the significance of the simplicity in our on-boarding, self-sovereignty of intelligent, immersive identities as well as interconnected virtual worlds and economies.”
About Dreamium Labs
Dreamium Labs (Dreamium) is the world’s leading and sole “layer zero” open metaverse platform that simplifies interconnecting virtual worlds, people and economies. To date, the company has successfully launched the Dreamscape Open Metaverse, the miniiworld iOS app and the Mutants of the Metaverse NFT project. The company has assembled a team of leading developers, engineers and technical artists from a cross-section of the blockchain, gaming and entertainment landscapes.
Explaining his involvement in the immersive experience, Sasha said that it was very important to give each section of the show its own sonic identity, but also make sure the show had a sound that worked as a whole, according to the official website.
“In the end, I was essentially given free rein to move between genres, instruments, sounds and textures to write a score that hopefully respects da Vinci’s mind-bending, time-travelling, visionary genius,” Sasha added.
All About The Show Technology
The Genius Immersive Experience is a revision of Leonardo’s work, and is next generation, touchable and playable, a form of edutainment, and a music experience.
The show is ahead of time, just as Leonardo da Vinci was, the website said.
The show can make people experience what it is like inside one of the brightest minds that ever existed, it said. Spectators can interact and feel the power of human creativity, the light-bulb moment of invention, and the inner workings of a genius – da Vinci.
People can also explore Leonardo’s inventions and ideas with the help of state-of-the-art technology, the website said.
It asks people to subscribe and immerse into ‘da Vinci’s live metaverse’ and says people can use this moment to slow down, focus on the now, and let their thoughts and feelings flow.
Interactive images and “captivating music” accompany the show, within a 360-degree soundscape, with around 80 million pixels, 50 kilometres of cabling, and more than 350,000 projected human lumens coming together, the website said.
Leonardo da Vinci Explored The World Through Science, Art, & Intuition
Leonardo da Vinci explored the world around him through science, art, and Intuition. He realised that humankind was not created just to mark time, but also to invent, create, and aspire to achieve knowledge.
The artist was fascinated with the stars, and with the zodiac. This was his inspiration behind the masterpiece, The Last Supper, in which 12 apostles represent the 12 signs of the zodiac.
Leonardo da Vinci famously said: “There are three classes of people: those who see, those who see when they are shown, those who do not see.“
Another famous quote of the artist is: “All our knowledge has its origins in our perceptions”.
The Genius Immersive Experience presents what the vision of Leonardo might have been today, the website said, adding that the revision of his work presents how he would have perceived our attitudes towards ecology, nature, science, space exploration, and modern art.
The Genius Immersive Experience is produced by Borealis Interactive Group (BIG).
Famous Art Works Previously Brought To Life
Vincent van Gogh’s life is the focus of an immersive experience at L’Atellier des Lumieres in Paris. The Paris venue of the experience, called the “Immersive Van Gogh”, opened in April 2018 and more than 1.2 million people attended the first exhibit.
Last year, producers of the “Immersive Van Gogh Exhibit” officially announced a venue and opening date for the experience in Los Angeles (LA), United States. The show premiered on July 31, 2021.
According to the official website of the Los Angeles Exhibit, people can experience art like they never did before, and lose themselves in 300,000 cubic feet of flawless projections animating Vincent Van Gogh’s oeuvre.The installation included Vincent’s famous works such as Managers de pommes de terre (The Potato Eaters, 1885), the Nuit étoilée (Starry Night, 1889), Les Tournesols (Sunflowers, 1888), and La Chamber à voucher (The Bedroom, 1889), according to the website.
London, UK, Jan. 25, 2022 (GLOBE NEWSWIRE) — According to Brandessence market research, the Metaverse Real Estate Market size is Expected to grow at 31.2% CAGR during 2022-2028. Soaring popularity of metaverse real estate across the globe and rising inclination towards NFTs in the metaverse environment are some of the major factors driving the growth of Global Metaverse Real Estate Market.
A sudden popularity of metaverse in real-estate market is skyrocketing and various investors are willing to pay millions. The market is expected to witness an attractive growth in the coming few years. Metaverse is a step in the direction of the digitalization of the real world. It is referred to as a decentralized computing platform and virtual reality experience contained various diverse digital realms. Over the past few months, the term “Metaverse” has been rising in popularity owing to the business opportunities that arose. Players can purchase land, build stores, and art galleries in this metaverse real estate platform. Metaverse real estate is one of the platforms where one can do anything they want to do in a virtual world. The price of virtual real estate is based upon most of the same factors as one has to determine the value of a piece of actual real estates such as location, lot size, existing structures, and demand all play a huge role in valuation.
Metaverse Real Estate Market Key Players: Linden Lab, Metaverse Group, Decentraland Marketplace, Zillow, many more.
Global Metaverse Real Estate Market Dynamics:
Increasing investment in metaverse real estate market and growing popularity among the population are some of the major factors driving the market growth. Metaverse real estate is the latest buzzworthy investment right now which is hugely gaining popularity all over the world. Number of players fully intend to generate spaces like virtual malls and other rentable properties. The concept of metaverse real estate captured the hearts and minds of nearly 70% of Americans. As, the masses of metaverse real estate platforms, like Decentraland, Sandbox and many others are available nearby the world. For example; Metaverse Group, one of the first companies to get into the digital real estate business operated a virtual world called Decentraland. Token.com announced that on average 116 parcel estates were sold for the equivalent of about USD 2.5 million. As well as, on December 8th, 2021, The Sandbox platform trading in virtual real estate has about 2,182 sales in a week. Further, Decentraland has approximately 339 total sales of metaverse real estate. Real estate in the metaverse is an amazingly speculative investment and hence gaining huge opportunities in this digital realm. Consequently, this factor is intensively flourishing the growth of the market for metaverse real estate across the globe.
In addition, the enormous inclination towards NFTs in the metaverse real estate environment is another aspect that is augmenting the evolution of the market. For example; the data from the platform NonFungible.com indicated that there has been across USD 300 million in NFT sales in December 2021. Of that total, nearly a quarter has been for digital land in The Sandbox metaverse. Also, on January 4th, 2022, PwC bought virtual land NFT in the Sandbox’s metaverse. Apart from the aforementioned points, in 2020, throughout an online auction, there was a digital artwork that sold for on an average five hundred thousand USD. It was the first NFT digital house sold and was a landmark moment in NFT technology. This sale marked the start of the craze around virtual real estate NFTs. The metaverse is an immersive virtual reality experience of the internet that uses NFT technology to pay and own items online. As a result, NFT is playing a vital role in the real estate platform of the metaverse which is further pushing courtesy of millions of people towards it. Hence, soaring demand of NFTs in metaverse land is more expressively booming the market for global metaverse real estate.
However, high cost of metaverse real estate and lack of awareness especially in emerging countries which may hamper the market growth. As, Sandbox’s top seller, LAND #48766, was sold for around USD 57,171.00 or Decentraland’s top seller, EST #1965, for almost USD 758,250.00. This may pessimistically affect the metaverse real estate market all over the world. Despite this, technological advancements in terms of security in devices and improved user security & high confidence among users can provide massive opportunities for the further growth of the global metaverse real estate market.
Global Metaverse Real Estate Market Segmentation:
The Global Metaverse Real Estate Market is segmented on the basis of component, end-use, and region & country level. Based on component, the metaverse real estate market is divided into hardware and software. Based on end-use, the metaverse real estate market is divided into residential and commercial.
News: T&B Media Launched ‘Translucia’ Metaverse, a Virtual World, Partnering with MQDC in Property — a New World First
On September 30th, 2021; T&B Media Global (Thailand) planned to invest 10 billion baht to launch the Translucia metaverse, the first imaginative virtual world in Thailand, with property developer Magnolia Quality Development Corporation (MQDC). Translucia’s first partner is MQDC, which plans to develop projects in the metaverse. MQDC is the first property developer to use Translucia. It plans to develop a city in this virtual world as it prepares to create a new entity, MQDC Metaverse, responsible for urban development and virtual real estate projects.
Superworld & Tokens.com To Form Strategic Metaverse Partnership
On January 14th, 2022; The virtual world platform SuperWorld has partnered with Metaverse Group, a subsidiary of publicly traded company Tokens.com, who will bolster their metaverse presence by investing up to USD $1 million on SuperWorld’s virtual real estate platform. The partnership diversifies Metaverse Group’s eight figure portfolio, with investment focusing on virtual real estate that encompasses historically and culturally significant locations, along with landmarks and newsworthy sites where creative projects, entertainment and future events will be hosted by Metaverse Group.
Virtual Plot worth $4.3 Million Sold On Metaverse
On December 11th, 2021; the virtual land was acquired by a developer from the video game company Atari. The metaverse archived just to retain breaking themselves. A plot of virtual real estate was just sold for nearly USD 4.3 million in The Sandbox, creating it the most expensive metaverse property sale as of December 8, 2021. In accordance with the Wall Street Journal, the virtual land was attained by the developer from Atari, which is one of the leading video game companies.
On a geographic basis, North America is expected to capture the largest share of the global metaverse real estate market increasing investment in the metaverse real estate and presence of many players in this region. When it comes to innovations and technologies, the U.S. is always at the forefront across the world as it is one of the developed countries. Indeed, lots of major players have a huge presence in this region. The concept of investing millions on the non-existent property may sound ludicrous, but feverish estimates of a virtual reality future are forcing investors to bet giant on metaverse real estate. For example; in December 2021, New York-based Company Republic Realm announced that it had spent a record-breaking of around USD 4.3 million on digital land through The Sandbox, one of numerous “virtual world” websites where people can socialize, play games, and even join concerts. That came hot on the heels of about USD 2.4-million land purchased in November 2020 on a rival platform, Decentraland, by Canadian crypto company Tokens.com.
On Special Requirement Metaverse Real Estate Market Report is also available for below Regions and Country:
Anime Market Size, Share, Companies & Trends Analysis Report By Type (Movie, Video, Internet Distribution, Merchandising, Music, Pachinko, Live Entertainment) Based On Anime Industry Region, And Segment Forecasts, 2021 – 2027
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