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Meta has reportedlyto reduce its budget for Reality Labs, the company’s division for metaverse hardware and software development. While the 20% reduction is expected to yield about $3 billion, analysts asserted that the amount could be utilized for Meta’s AI initiatives.

According to a Strategy and PwC , the metaverse industry will inject $15 billion into GCC (Gulf Cooperation Council) countries by 2030. The report noted existing metaverse initiatives in Saudi Arabia and the United Arab Emirates that could extend to the rest of the region. Strategy and PwC noted the GCC aims to explore the “enormous possible impact” of the metaverse in energizing and transforming various sectors in their economies.

Yat Siu, the chairman of Animoca Games, a prominent player in the Web3 game landscape, has predicted that 2024 will be a pivotal year for crypto games and the Metaverse. This prediction follows that of the 2,817 Web3 games introduced in the past five years, 2,127 have ceased to exist, making a failure rate exceeding 75%.

The has introduced a new governance framework aimed at ensuring the ethical growth of the metaverse.

Metaverse platform METAV.RS has comprehensive statistics and insights into the Metaverse market for 2023. The report sheds light on the emerging technology’s rapid growth and transformative potential.

In a recent TechWire , Renz Chong, the CEO of NFT startup BreederDAO, explained why he believes AI technologies like Midjourney have the potential to revolutionize the creative process in metaverse projects.

As the gradually edges away from its downturn, several cryptocurrencies have picked up pace. In the past 24 hours, the global cryptocurrency market cap has seen an increase of 0.35% to sit at $1.05 trillion, according to data from CoinMarketCap. Furthermore, the trade volume also saw a 7.98% increase in the same period.

Meta CEO Mark Zuckerberg recently conveyed the company’s steadfast commitment to its metaverse vision and artificial intelligence (AI) during a second-quarter earnings call reflecting a $37 billion loss in Reality Labs.

and artificial intelligence startup Futureverse recently concluded its Series A round where it raised a whopping $54 million at an undisclosed valuation. The funding round was led by crypto investment firm 10T Holdings and drew investment from crypto giant Labs as well. Futureverse boasts a suite of proprietary AI content generation tools designed to enhance the metaverse.

Apple has made a significant splash in the world of immersive digital technology with the release of its highly anticipated Vision Pro mixed reality headset.

and GameFi will be crucial in the next bull cycle, says crypto and NFT investor Crypto Tony. In a recent tweet, Tony told his followers his focus is on APE, MANA, PYR, SAND, AXS, ILV, ALICE, and RLB.

, a relatively new player in the blockchain space, focused on creating a unique metaverse experience with the help of its native token, SHIBA, has made a recent move. The project has launched its Twitter account, where it will be sharing updates on its development progress and other relevant news.

The platform Degentraland shared a Twitter thread on March 23, commenting on the necessity and immediacy of developing on-chain reputation scores for NFT projects.

Tech company announced a purchase of $2.5 million worth of tokens from , a leading industry blockchain market maker. This investment will help to develop Sensorium Galaxy metaverse beyond its influential role in the VR metaverse landscape and into the vast Web3 space.

Republic, the third-largest equity crowdfunding portal in the United States, has backtracked its steps on a $75 million Metaverse investment due to recent regulatory actions from the .

Despite a worldwide slump in the crypto market that has eroded investors’ confidence in this industry, the Web3 space seems to be faring well amid the crypto winter. The evidence lies in South Korea’s decision to go all in on Metaverse in 2023.

Meta has reportedlyto reduce its budget for Reality Labs, the company’s division for metaverse hardware and software development. While the 20% reduction is expected to yield about $3 billion, analysts asserted that the amount could be utilized for Meta’s AI initiatives.

According to a Strategy and PwC , the metaverse industry will inject $15 billion into GCC (Gulf Cooperation Council) countries by 2030. The report noted existing metaverse initiatives in Saudi Arabia and the United Arab Emirates that could extend to the rest of the region. Strategy and PwC noted the GCC aims to explore the “enormous possible impact” of the metaverse in energizing and transforming various sectors in their economies.

Yat Siu, the chairman of Animoca Games, a prominent player in the Web3 game landscape, has predicted that 2024 will be a pivotal year for crypto games and the Metaverse. This prediction follows that of the 2,817 Web3 games introduced in the past five years, 2,127 have ceased to exist, making a failure rate exceeding 75%.

The has introduced a new governance framework aimed at ensuring the ethical growth of the metaverse.