Let’s start with the well-known fact: the crypto-winter is still in session. While traditional game developers are slowly and ungracefully rolling towards an interest in cryptocurrency games, those who develop “playable” variations are still playing around with various crypto schemes.

Blockchain Games: Playing and Profiting in a New Era of Online Entertainment

The Sims and Spore creator Will Wright is back in the game business with the new metaverse project VoxVerse promising “a unique and immersive” cross-game experience. Let us see what his team is preparing for gamers and whether it will astound the well-nourished Web3 game industry.

Meta’s VP of product policy and strategy met with South Korea’s official media regulator to work on safety and privacy regulations for the metaverse space, fueled by users’ concerns.

UAE government pursues to secure a place in the metaverse space with its ambitious upcoming project Dubaiverse developed on the Sandbox platform.

Sygnum is the first Swiss bank to have its own metaverse residency. The crypto company and virtual asset manager has announced the opening of a digital hub in Decentraland. It will feature an NFT gallery and space for virtual conferences.

Chinese tech giant Tencent has participated in a £15 million ($18.3 million) funding round for Hadean, a British startup building virtual worlds and its own metaverse platform. Other investors include a CIA-backed fund and the British government.

Many believe that the metaverse is the future, and Vitalik Buterin is no exception. However, the Ethereum creator is skeptical that big tech companies will be able to build the one.

Dubai-based blockchain companies already contribute $500 million to the national economy. Now the Emirates plans to invest more in the metaverse and create 40,000 virtual jobs under a new strategy.

Shanghai’s government has announced it plans to establish a $1.5 billion fund dedicated to metaverse development. The initiative is supposed to accelerate China’s economic recovery through supporting companies working in this area.

Mona has raised $14.6 million for its metaverse platform for digital creators. It is designed to help people build virtual worlds and sell them as NFTs, while also offering its own infrastructure and editor.

Neal Stephenson is known for defining the term “Metaverse” in his cyberpunk novel “Snow Crash” back in the early 90s. The writer has now decided to bring his own vision of this concept to life by announcing a new project titled LAMINA1 aimed at helping creators realize their ideas.

Metaverse has become the buzzword for tech companies and startups across the globe over the last year. Despite the skepticism around this sector remaining high, some analysts think that it might turn into a $13 trillion industry by the end of this decade.

Krafton has joined a list of game companies stepping into the NFT space. The PUBG developer will create NFT avatars that players will supposedly find “fun and engaging.”