Monday, Jun 05, 2023

Latest Crypto News: German Online Bank To Increase Crypto Trading, Seoul Launches First Metaverse Project

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Latest Crypto News: German Online Bank To Increase Crypto Trading, Seoul Launches First Metaverse Project

Here are some of the major developments from the world of crypto over the last few days

German online bank N26 announced on January 17, 2023 that it would add Switzerland and Germany to the list of nations where its clients can trade in cryptocurrency, Reuters reported.

N26 also added that it would offer the service to clients in Ireland, Portugal, and Belgium as well.

As part of its initial entry into the crypto asset class, N26 started providing crypto trading to a select group of consumers in Austria last year.

Over the past year, the prices of popular cryptocurrencies, such as Bitcoin and Ethereum have plummeted drastically, following a wider downturn in global markets, which forced investors to sell the risky assets, and also in the wake of the FTX crypto exchange collapse.

In the coming weeks, N26 will gradually introduce increased trade, it announced.

Official Launch of Seoul’s First Metaverse Project

The year 2022 was not the best for the growth and adoption of the metaverse. Many even still believe that the buzz around metaverse has practically died.

Now, as the Seoul metropolitan government starts its first open-to-the-public metaverse initiative in 2023, the metaverse community is looking forward to good news. At its height of popularity, leading businesses from diverse ecosystems started applying for metaverse trademarks.

Now, the first public launch of the Seoul metaverse project will be followed by beta testing, according to information from the press release issued on January 16, 2023 by the Seoul metropolitan government.

Seoul’s residents will be able to virtually visit any tourist spot, obtain government papers, lodge grievances, and get clarification on municipal tax filings.

According to the latest reports, the metaverse project’s initial phase cost close to $1.6 million.

The second stage of this initiative will concentrate on the senior individuals who have trouble commuting back and forth for various office needs.

The Sandbox, mm2 Collaborate To Provide Metaverse Content

The Sandbox and Metaviva, a Web 3.0 business and fully-owned subsidiary of mm2 Entertainment, are collaborating to create a virtual playground in The Sandbox’s gaming metaverse.

The development and creation of content for mm2’s entertainment brands will be the primary emphasis of this virtual playground.

In accordance with the agreement, Metaviva and mm2 will acquire a 6x6 plot of land in The Sandbox to provide gamers with interactive experiences that extend real-world media, such as movies, drama series, sports, and music. Landowners in The Sandbox have the option to organise competitions and events.

There are about 166,464 parcels of land in The Sandbox metaverse.

Players will be able to join a virtual film set and contribute towards creating stories using the intellectual property already owned by mm2.