This Week In The Metaverse: Degree Is Hosting A Virtual Marathon, Bored Ape Yacht Club’s Instagram Hacked

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 the past week:

The degree hosts the “Metathon” aimed at promoting inclusivity in the metaverse

Deodorant company Degree recently hosted the first-ever virtual marathon, hosted on popular metaverse platform Decentraland. Dubbed the “Metathon,” the event was designed to promote inclusivity within the Metaverse. Positioning itself as a brand committed to working towards “a more inclusive world where everyone has the confidence to move more,” Degree conducted a survey of Decentraland virtual landowners and found that 98% of respondents “support the movement in Decentraland more accessible and inclusive for people with disabilities. The brand worked with “disability experts” Paralympian Blake Leeper and rapper Fat Joe – known for his “advocacy for representation”, according to the brand – to create a virtual race aimed at ensuring that people of all levels of physical ability feel welcome. Working with Decentraland, the brand has developed avatar apparel that reflects the reality of many members of the disability community, including prosthetics, a wheelchair, and running blades. According to Degree, these wearable devices “provide better representation of people with disabilities and allow participants to create avatars that represent their unique identity. The brand says it won’t stop at the Metathon; it will continue to promote a more inclusive and diverse metaverse in future efforts, which will include “adding audio description for those with visual impairments, implementing a non-binary experience when creating an avatar, building a variety of body shapes and sizes, and more.”

Hackers break into Bored Ape Yacht Club’s Instagram and steal nearly $3 million worth of NFTs

The official Bored Ape Yacht Club (BAYC) Instagram account – one of the most popular NFT series in the world – was hacked earlier this week resulting in the theft of millions of NFT dollars. The company tweeted just before 10 a.m. ET on Monday: “There is no mint going today. It looks like BAYC Instagram has been hacked. Don’t hit anything, click on links, or link your wallet to anything. The hackers, after breaking into BAYC’s Instagram account, posted a malicious link announcing a fake airdrop (crypto-language for an NFT distribution). According to CoinDesk, those unlucky souls who clicked on the link gave hackers control of their wallets. “The approximate estimated losses due to the scam are 4 Bored Apes, 6 Mutant Apes and 3 BAKC, as well as various other NFTs estimated to have a total value of approximately $3 million,” a spokesperson said. BAYC to CoinDesk. “We are actively working to establish contact with affected users.” The hack highlights the fact that cryptocurrency, even when protected on a secure blockchain, can be made vulnerable via other technological flaws – in this case, a crypto company’s social media account. Last month, hackers hacked into Axie Infinity and seized over $600 million worth of crypto. As of this writing, hackers from the recent BAYC scam are still at large.

Disney eyes metaverse for ‘next-gen storytelling’

The Walt Disney Company has begun developing a strategy for entering the Metaverse, according to the Los Angeles Times. The company is reportedly calling its plans for the metaverse “next-gen storytelling” and will seek to blend elements of its existing business model — including both physical infrastructure like theme parks and Disney+, its streaming platform — with new virtual experiences. “[I]This is going to take all the great things we have as a media company with Disney+ and use that as a platform for the metaverse,” Disney CEO Bob Chapek told the LA Times. “But at the same time, we have something that nobody else has, and that’s the physical world, a world of our parks. And so, if the metaverse is the blending of the physical and the digital in one environment, who can do it better than Disney? While the details of Disney’s plans are still unclear, this is the latest news from a major media company seeking to claim its position in the burgeoning metaverse and its associated blockchain-based technologies. . Major movie studios, including Lionsgate and Warner Bros., for example, have recently created their own NFTs. Disney also launched its “Golden Moments” NFT series last year.

Zuckerberg changes his mind about his company’s metaverse spending

Since changing the name of his company from Facebook to Meta last year, Mark Zuckerberg has been adamant about the need to invest huge sums of money in the company’s development of the Metaverse – which Zuck seems to believe with conviction that the future of the Internet will be. But after a period of huge financial losses earlier this year and in the face of anxious investors, he is now getting more frugal. During a first-quarter earnings call on Wednesday, Meta’s CEO told investors that given the company’s “current levels of growth,” the company “will slow the pace of some of the [its] investments. He also emphasized his confidence that Meta’s long-term commitment to building the Metaverse, which proved extremely costly in the short term, would eventually pay off. “In the laboratories of reality [Meta’s tech R&D arm], we are making significant investments to deliver the next platform that I believe will be extremely important to both our mission and our business – comparable in value to today’s leading mobile platforms,” said Zuckerberg told investors on the call. “I recognize that it’s expensive to build this – it’s something that’s never been built before and it’s a new paradigm for computing and social connection.” In addition to the metaverse, Zuckerberg said the company will focus more on Reels – including “short video [and] advancing AI recommendations driving more of our feeds” – and ads. Later in the call, Meta CFO Dave Wehner announced that Reality Labs’ operating loss for the first quarter of 2022 was $3 billion.

Model Gisele Bündchen and FTX Want to Tell the World Why They’re “Into” Crypto

Crypto trading platform FTX has launched its first-ever print campaign, titled “In on,” in partnership with model and philanthropist Gisele Bündchen. The campaign kicked off yesterday at the SALT Crypto Bahamas conference with a conversation between Bündchen and FTX Founder Sam Bankman-Fried, focusing on the company’s “deep-rooted commitment to effective altruism and providing the most great global impact for good,” according to a statement from FTX. The conversation will also focus on why Bündchen and Bankman-Fried are “into crypto with FTX,” according to the brand. The “In on” theme is a slight modification of the “You in?” theme. a theme the company played on in its recent Super Bowl commercial, which featured Bündchen and her husband Tom Brady — both of whom entered into a “long-term partnership” with FTX last year. Founded in 2019, FTX has become one of the leading companies in the crypto exchange industry – which as a whole has been plagued with controversy due to the massive environmental impact of cryptocurrency. . With this latest campaign, FTX appears to be aiming to position itself as an eco-friendly pioneer for the industry, squarely aiming to not only reduce its carbon footprint, but also give back in many other ways. FTX says it has partnered with Bündchen to donate up to $1 billion in 2021(?) “to charitable causes” through the FTX Foundation, the company’s philanthropic fund. The FTX community – defined as “a project of the FTX Foundation” – will continue its efforts “to reduce global poverty, save lives and prevent animal suffering,” the company said in a statement. Last year, the company became completely carbon neutral.

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This Week In The Metaverse: Degree Is Hosting A Virtual Marathon, Bored Ape Yacht Club’s Instagram Hacked


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