Metaverse

‘AI Tools Will Provide Very Interesting Enhancements for the Metaverse’ — Upland Co-Founder

April 1, 2023 Bitcoin.com

Disney Reportedly Axing Metaverse Division Amidst Company Restructuring

April 1, 2023 Bitcoin.com

AI makes the metaverse safer and more inclusive: The Sandbox co-founder

March 30, 2023 Coin Telegraph

AI continues to be more pervasive in emerging technologies, and according to a co-founder of The Sandbox, it will make digital spaces more inclusive places.

Artificial intelligence (AI) is the new buzzword in the emerging tech scene after the release of OpenAI’s chatbot ChatGPT-4. However, opinions on this groundbreaking technology are mixed, with some claiming it is something to be feared.

Speaking to Cointelegraph reporter Jesse Coghlan at the WOW Summit Hong Kong 2023, Sebastien Borget, co-founder and chief operating officer of The Sandbox and president of the Blockchain Game Alliance, said he is excited about “the possibilities that AI offers for creators.”

Rather than fearing AI, Borget said essentially it is here to help creators create even faster.

“With this tool, generative AI, [creators] can show and materialize ideas in seconds. It’s fantastic. The speed at which ideas can come to life has been accelerated so much.”

Borget continued by saying this will help bring more life into the metaverse, moreover, more “diverse and inclusive” avatars for users.

*The Sandbox co-founder Sebastien Borget and Cointelegraph reporter Jesse Coghlan at WOW Summit Hong Kong 2023. Source: Cointelegraph*

He signaled to a company developing an AI application that allows users to upload videos from a smartphone, take emotions directly from the live feed, and add them to an avatar. According to The Sandbox co-founder, this AI use case allows “more expression and feeling” in content creation.

“AI also helped to make the metaverse safer because it can moderate text in chats to reduce toxicity, for example, in a more automated manner.”

This is not the first time AI has been mentioned as a way to improve safety in the Web3 space. AI-based tools are said to be able to bring security and transparency to nonfungible token markets.

Others have echoed Borget’s sentiment of AI being used to make the metaverse more interactive. It can help in more accurate representations of physical-world social experiences that are yet to be possible in the metaverse available today.

Nonetheless, AI skeptics are still sounding alarms over the potential negative effects stemming from the technology. On March 22, over 2,600 leaders and researchers in the tech industry, including Elon Musk, signed an open letter stressing the need for a pause on further AI development.

The letter cites “profound risks to society and humanity” with the current speed of developments.

Magazine: All rise for the robot judge: AI and blockchain could transform the courtroom

To be or not to be: Ethics, democracy and morality in the nascent metaverse

March 27, 2023 Coin Telegraph

Coin Telegraph

If human interactions in digital reality should mimic those of real life, this raises questions as to what and who will dictate important moral judgements and ethical standards.

The metaverse has the potential to be the next frontier of human interaction, as evidenced by the amount of activity that continues to pour into the space.

It’s not just game developers pushing digital worlds but entire countries are setting up metaverse development funds. Major automotive firms, such as Nissan, are conducting trial sales in the metaverse, and even court cases are being moved to digital reality.

According to data compiled by licensed trademark attorney Mike Kondoudis in November 2022, trademarks filed for nonfungible tokens (NFTs), cryptocurrencies and the metaverse hit new levels at the end of the year.

However, if countries and court cases are entering the metaverse and human activity increases in digital reality, it’s only a matter of time before major ethical questions come into play.

What are the moral codes of a society that is a digital conglomerate of many societies in physical reality? Or, given the fact the metaverse is in theory open to anyone around the world, how do local and metaverse laws interfere and interact with one another?

These are new concepts that have sprung from emerging technologies, but they have roots in some of the major ethical questions with which humans have struggled throughout history.

A moral metaverse

With new technology, there are always questions raised about the morality and ethics of its capabilities. This has certainly been the case with artificial intelligence (AI) and invasive wearable technology.

Recently, the release of ChatGPT-4, an advanced AI chatbot application, raised major ethical questions as it was able to ace the bar exam and SATs. In an effort to dictate morality around this technology, Cambridge University released its first official policy regarding the ethics of artificial intelligence.

.@CambridgeUP has launched its first ever AI research ethics policy to help researchers use generative AI tools while "upholding academic standards around transparency, plagiarism, accuracy and originality".

Read here: https://t.co/VYL6JxIGXl pic.twitter.com/lMi96wwA2i
— The Bookseller (@thebookseller) March 14, 2023

As the metaverse expands, it, too, is becoming a topic both users and developers will continue to face from a moral and ethical perspective.

For Yat Siu, CEO and co-founder of Animoca Brands, the “framework in the physical world” is still something to fall back on in this early stage of digital reality development.

“It’s certainly an ongoing process,” he told Cointelegraph. “Some jurisdictions are looking at incorporating digital assets within local law frameworks.”

Siu’s comment regarding jurisdiction refers to the fact that the metaverse is theoretically accessible to users from all over the world, but it’s also being developed intentionally and in specific ways in certain countries.

For example, Saudi Arabia recently announced a partnership with The Sandbox for future metaverse development, while in Colombia, a local legal jurisdiction held a trial in the metaverse.

Therefore, in instances involving specific physical geographical locations, local perspectives of ethics and morality will come into play.

Metaverse crime and punishment

The aforementioned court case in Colombia created a buzz in the online legal community as to what is legally possible in virtual worlds and, more importantly, what is ethical for all those involved.

The Colombian court case was a civil case involving a traffic violation that took place outside of the metaverse. However, the situation becomes more complex when dealing with punishment for behavior deemed unethical that has taken place within the metaverse. On this, Siu commented:

“At the moment, the immediate measures against criminals in the open metaverse are often enacted by the community itself and are technologically based, such as blacklisting the offenders’ wallets and sanctioning them.”

Another way to tackle metaverse crimes, according to Siu, would be to reverse transactions by securing a general consensus on the blockchains where the crimes took place.

He said this way is “more controversial” and still a “degree of law enforcement in the physical world is required.”

Decentralized democracy

John Kobs, CEO and founder of digital artist residency Wildxyz, echoed Siu, telling Cointelegraph that the ethics and morality of the metaverse are currently being created, and developers should be creating this new ethical standard with integrity and trust for its users.

“Ensuring these new online spaces are filled with respect and inclusivity and held to a high ethical standard is the bar we are holding ourselves accountable to.”

Civilizations in physical reality have been wrestling with moral and ethical codes for centuries. One of the world’s most recognizable and ethical societal systems, democracy, was created in Greece in 5 B.C.

However, the various cultures and societies that have tried to take on democracy have influenced this moral system. The democracy that exists today in many countries around the world still is not exactly how the ancients first envisioned it.

Therefore, as humans create a new digital world, the cultural code of morals and ethics will most likely be shaped by the digital environments around it.

Kobs said that at Wildxyz, “We believe the culture and structures we create will play a huge role in defining a safe space for all who want to participate.”

On digital, decentralized democracy, Siu commented that “justice” is an important value of the open metaverse although it is “more subjective.”

“The metaverse offers us the opportunity to create new digital lives that are less affected by unfair factors that might plague us in the real world like disease, disability or poverty.”

Before our societies took the shape they’re currently in, “physical world societies began in a fairly decentralized manner and eventually grew into monarchy systems, which are not at all democratic or decentralized,” said Siu.

He continued by pointing out that despite this oscillation between decentralized and centralized ways of building societies, today, almost all those systems have been “replaced by democratic ones.”

“In terms of democratic potential, the open metaverse actually has some advantages over the physical world because participation is already codified by the framework itself, making it harder to be illegitimately disenfranchised, cheated, ostracized, etc.”

On the radar

Increased use of the metaverse is expected to change many areas of life as it is known in physical reality. In fact, 69% of users believe that metaverse activities will reshape social life.

However, the metaverse is still in its infant stage, and so are many aspects of its usability, including those with regard to ethical procedures. For now, there is not one blanket set of ethics and moral codes that dictate digital reality, just as there is not even a singular “metaverse” at present.

Nonetheless, the way humans will interact with each other morally and ethically in a digital replication of reality is definitely on the mind of developers and scholars.

Numerous academic articles are beginning to surface on the subject. A talk on the topic was even held at the mainstream South by Southwest festival called, “Good, Evil and Avatars: Ethics in the Metaverse.”

More attention is shifting to the digital world and what it takes to make it a sustainable reality. As Siu concluded on the topic, “a new culture is emerging.”

How blockchain can help reimagine a new state in Africa

March 23, 2023 Coin Telegraph

Africa

Eche Emole, the co-founder of Afropolitan, explains how the nation-state experiment has failed, especially in Africa, and how blockchain can be used to reimagine a new state.

On episode 12 of Cointelegraph’s Hashing It Out podcast, Eche Emole, co-founder of Afropolitan, explains what it means to build a country on the blockchain.

From an event and media company, Afropolitan has transitioned to a blockchain-based state of Africans on the continent and in the diaspora. Emole, an African in the diaspora with a political science, philosophy and law background, believes the nation-state experiment has failed in Africa. According to him, the existing state structures have stifled the development of people on the continent.

“We truly believe that the nation-state experiment has failed for Africans globally. It has yielded nothing but poverty, weakness, corruption, and it very stifling.“

The co-founder of Afropolitan explains that the inspiration to build a network state comes from an article titled “How To Start a New Country,” written by former Coinbase chief technology officer Balaji Srinivasan, who has recently been in the news for a $2 million bet on Bitcoin reaching $1 million in 90 days. Another piece of literature that inspired the creation of Afropolitan is the first of the federalist papers, published by Alexander Hamilton.

According to Emole, the plan to build Afropolitan will occur in four phases: building a community, offering governance as a service, becoming a minimum viable state and securing land for the real-life version of the state, featuring a Chinatown and an embassy.

Emole believes that another reason why Afropolitan is necessary is the lack of opportunities that exist for Africans. Emole explains that the issue is a two-part problem beginning from the point where most Africans are not in the rooms where major decisions are being made. Moreover, the lack of cross-industry communication prevents collaborations between Africans in a way that solves problems.

Elisha (GhCryptoGuy) and Emole also discuss the hurdles of creating a nation on the blockchain, the future of crypto in Africa and Vitalik Buterin’s visit to the continent.

Listen to Hashing It Out Episode 12 on Spotify, Apple Podcasts, Google Podcasts or TuneIn. You can also check out Cointelegraph’s full catalog of informative podcasts on the Cointelegraph Podcasts page.

German Government Invests $1.2 Million in Metaverse Startup Flying Sheep Studios

March 23, 2023 Bitcoin.com

Deloitte dives into immersive experiences as more industries turn to Web3

March 22, 2023 Coin Telegraph

Coin Telegraph

The Big Four accounting firm is betting on immersive experiences and other Web3 solutions to address various corporate needs.

Immersive experiences are already popular in the entertainment, gaming and fashion industries, but they can also be a tool to address various other corporate needs, like simulating manufacturing operations and training managers to have sensitive conversations.

Deloitte made this bet in late February when it announced a partnership with virtual spaces company Vatom to offer immersive experiences for various industries, from companies seeking to boost culture with virtual reality to brands focused on building community engagement. Together, the companies claim to deliver the ability to host thousands of people simultaneously in the same virtual space at the same time, along with a cross-chain wallet and access to a collection of digital assets and tokens of their metaverse experiences.

*Training Underground - Virtual Reality. Source: Deloitte*

The hidden goal, however, is to provide companies with underlying data about users. “One of the key trends impacting companies across all industries is the decreased accessibility of third-party data,” Khusro Khalid, managing director at Deloitte Digital, told Cointelegraph.

According to Khalid, firms that rely on knowing and connecting with customers are looking to replace third-party data and cut customer acquisition costs. “Given the customizable nature of the product, companies can leverage a host of Web3 tools, including virtual spaces, Programmable Digital Objects, a cross-chain universal Wallet, POS redemption, token gating and loyalty points, among other features, for a diversity of business applications,” he said.

Deloitte envisions a variety of metaverse tools for companies. Virtual spaces offer companies a way to “not only gather global team members together for events and meetings but also provide gamified tools that enable more engaging and interactive employee training,” Khalid noted.

*3D Asset Generation - Omniverse. Source: Deloitte*

Other examples include digital twins for real estate, providing prospective buyers with an immersive tour of a property without ever leaving their homes. “In each of these instances, virtual spaces not only create a direct channel for engagement but also a simple way to gain valuable first- and zero-party data from those engaging in the virtual spaces — helping to inform future efforts and strategies,” explained Khalil.

Virtual reality experiences are attracting billions of dollars in investments from companies around the world. The market size of global immersive technology was valued at $21.6 billion in 2021 and is expected to reach approximately $134.18 billion by 2030, according to Precedence Research.

Tech giants such as Nvidia, Qualcomm, Google, Facebook-owner Meta and Microsoft have already disclosed metaverse-related initiatives, while decentralized and blockchain-based platforms operating in metaverse businesses include Decentraland, The Sandbox, Axie Infinity, Metahero and Star Atlas, to name a few.

Eric Pulier, founder and CEO of Vatom, believes the metaverse is the internet of tomorrow and, as such, no businesses will be untouched by immersive experiences:

“Web3 represents the next iteration of the internet. In the same way that there is no company or industry that does not use the internet as a tool of engagement, there is no sector of business that cannot benefit from more effectively engaging their target audiences at scale with Web3.”

‘Get comfortable with discomfort’ for Web3 success: PBW 2023

March 22, 2023 Coin Telegraph

Coin Telegraph

A group of professionals in Web3 took the Venus de Milo stage at Paris Blockchain Week 2023 to discuss the dos and don’ts of metaverse regulation.

The metaverse continues to be a hot topic in the Web3 space, as a group of industry professionals took to the Venus de Milo stage at Paris Blockchain Week 2023 to discuss the future of digital reality.

In the panel “Metaverse Regulation: Dos and Don’ts,” the group discussed how regulators around the world might interpret what goes on in the metaverse, along with how businesses should navigate their entrance into digital reality.

*PBW venue, Paris, France. Source: Cointelegraph*

Lawyer and founder of Jacob Avocats Julie Jacob said she sees privacy, regulation, and ethical standards as having “different cultures in different countries.” According to Jacobs, the new challenge is creating regulations that can be applied worldwide:

“There is no standard. It's really a fantastic opportunity, in my opinion, to now create rules all together and also to create ethical standards.”

Arnaud Pelletier, the innovation director for IBM Consulting France, said regulation is key to ensuring “fairness, competition and protection of individuals,” especially as more businesses enter the metaverse.

However, Pelletier stressed that too much regulation would have “drawbacks” such as limited innovation, too much interpretation and stunted adoption.

In the United States, this has already started to happen, according to Andy Albertson, partner and co-lead at Fenwick. He said it's pushing "good, hard-working entrepreneurs" out of the country into others that are more receptive:

“It also creates an opportunity for countries that want to lean into this innovation and provide an appropriate level of regulation.”

For enterprises ready to jump into the space, Albertson said they need to “get comfortable with discomfort” to succeed in Web3. As the industry continues to grow, there are still a lot of "grey areas" to work with, he said, adding:

“You have to be comfortable with the strategic risk. I'm not talking about being reckless. I'm talking about marrying up the business opportunity with the risk that you couldn't eliminate.”

Recently, Margrethe Vestager, the executive vice president of the European Commission, said that current legislation lags behind the technology. She also said that the Commission wants to ensure "healthy competition" in the metaverse in its jurisdiction.

Metaverse brings new problems and opportunities to music licensing

March 22, 2023 Coin Telegraph

Coin Telegraph

With the rising popularity of Web3 and the metaverse, songwriters and musicians are wondering what music licensing will look like in this new space.

The term “metaverse” is becoming increasingly common, but while many people have likely heard it used, they often don’t know what it means.

It can be difficult to explain the term to someone outside the Web3 space, as the metaverse is still relatively new and evolving. The most important thing to know is that it has the potential to revolutionize the internet and how people live, work and play.

The metaverse is a new frontier of innovation and creativity, centered a great deal around media, which should come as no surprise since many Web2 apps are as well, especially music.

There are entire social media platforms dedicated to sharing music, and those that aren’t have incorporated music in other ways. While this has increased awareness about music licensing in digital spaces, it has also highlighted that some systems in place are outdated and struggling to keep up with the breakneck pace of new technology.

With new possibilities for music in the metaverse, the current licensing system may need to be revamped, given the changing ways music is created and consumed, especially with Web3 innovations like nonfungible tokens (NFTs).

Music in the metaverse has had great success. Many top-name artists have performed concerts in the space, and many artists have seen the appeal of releasing music as NFTs.

Despite the uncertainties and the evolving landscape of Web3, licensing music in the metaverse has massive potential.

Current licensing challenges

Technology is rapidly advancing in the Web3 space, and given how new it all is, there are many kinks to work out. Presently, the metaverse is all about experimentation, so if something fails organically, it will serve as a lesson to others.

Despite much experimentation in the metaverse, licensing remains undeveloped. For Web2 social media platforms, there is a known standard on licensing, and what can and cannot be done. This does not currently exist in the metaverse. The mixture of set standards and laws surrounding copyright and licensing isn’t as concrete as needed for a solid licensing landscape.

Spottie Wifi, a musician and Web3 proponent, sat down with Cointelegraph to discuss the current state of licensing in the metaverse.

“There is a difference between traditional licensing for music and licensing music in the metaverse. The main difference I have seen is that a music license for the metaverse needs to clearly include the metaverse as a distribution channel listed within the scope of the license, or the scope of the license should be so broad that the metaverse would naturally be included,” he said.

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This would undoubtedly be a simple solution to what is often seen as a nuanced issue. Still, compared with Web2, there are complications around music licensing in Web3 — thanks to NFTs.

.@SpottieWiFi is the best (only) @cryptopunksnfts rapper alive.

He disrupted the music industry in August 2021 by selling 2000 NFT albums and generating $192K in revenue in under 60 seconds as an independent artist. pic.twitter.com/iTVrNpvDzl
— NFT MELBOURNE | 23.03.23 | Tickets on Sale Now! (@NFT_MELBOURNE) March 21, 2023

“I recorded a concept album in 2021 about life in the metaverse, and I sold the album as an NFT collection, which grants the NFT holders a license to use and commercialize the music however they like while I still retain ownership of my masters and publishing,” added Spottie Wifi.

“There are NFT collectors that use music in this way in the content they develop, including metaverse experiences, video games, podcasts, films and advertisements.”

Musicians want to avoid exploitation and ensure that their music is used appropriately. This requires properly enforcing intellectual property (IP) rights, which is a complicated process in the metaverse.

“For now, the most effective means of enforcing IP rights as a songwriter in the metaverse is probably to simply enforce those IP rights on Web2 platforms like YouTube, Instagram, etc., through what is known as Content ID. Content ID is an automated system that removes content from those platforms if that content infringes someone’s music copyright,” Spottie Wifi explained. “This can help enforce copyright in the metaverse because a lot of content that is broadcast in the metaverse still comes from those Web2 platforms.”

This brings to light another issue surrounding copyright. If users can create their own virtual spaces or events within the metaverse, they will likely want to include copyrighted music as a part of their creation, just like on social media platforms. This could raise issues around obtaining the necessary licenses to use the music, and monitoring and enforcing those licenses.

As the metaverse is likely to be global, determining who monitors and enforces licenses could pose challenges because copyright law, performance rights, music licensing and regulation would be cross-jurisdictional. The global aspect also causes other issues outside of copyright, with questions about how to properly compensate musicians when their work does get used. As a standard for music licensing gets set for this space, royalty structures that differ from traditional music licensing models could be complex.

Licensing potential in the metaverse

Broadcasting music into the metaverse from Web2 platforms to protect artists might be the easiest thing to do now, but this method will become outdated when music licensing in the metaverse provides more protection.

According to Hendrik Hey, founder of media licensing firm Media Industry Licensing Content — a blockchain-based content licensing company — a new approach to licensing is on the horizon.

“There is a simple interface being developed where any musician can enter their license information. Licensing music in the metaverse works with the addition of blockchain technology. In a blockchain, anyone who knows what they are doing can create a hash in which they store all the information relevant to the license. The assets that someone would want to license are then found in the metaverse itself,” Hey told Cointelegraph.

While not entirely theft-proof, the blockchain hash is relatively safe and transparent, and could make the licensing process much easier.

“The blockchain hash will be automatically generated and would then serve as proof that the information of the license is correct. It is important to be able to prove that you are the true owner of a license and that the information is accurate, and the blockchain can clearly show who the real owner is in the event of a legal dispute,” Hay added.

The developments Hey discusses would simplify the process, as the places where the music is found would provide explicit information about what the licensor wants. The user could then decide if they want the license or not. This cuts out many steps, gets everyone to their destination quickly and can set standards currently missing in the space.

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From developmental and artistic perspectives, the future of the metaverse is bright, with massive potential for success and high earnings for content creators.

When Spottie Wifi sold his album as an NFT collection, he generated $192,000 in just 60 seconds. The revenue went directly to his wallet, and intermediaries were cut out. With NFT releases, the artists own their music and increase potential revenue.

The metaverse could become the new mainstream as its popularity increases. With people like Hey developing the space, and artists like Spottie Wifi experimenting with it, music licensing will become less complicated and no longer fold under the pressure of digital spaces.

Paris Blockchain Week 2023: Latest updates by Cointelegraph

March 20, 2023 Coin Telegraph

Coin Telegraph

Pre-summit events such as the Talent Fair, the Startup Competition as well as the Investors Day made up the day on March 20 at the Paris Blockchain Week.

Paris Blockchain Week 2023 (PBW) is about to kick off its ‍4th year as one of the world’s largest conferences tackling all things blockchain, crypto and Web3. The event hosts over 10,000 attendees and was sold out the previous year. The Cointelegraph team is stationed in Paris for the latest news from the ground.

This year’s edition of PBW has speakers from some of the industry’s biggest players, such as Consensys, Ledger, Animoca Brands, Alogrand, Reddit and more. The event consists of the main summit and Web3XP on all things Web3. The main themes of the summit and Web3XP include public policy, enterprise blockchain, open finance, Web3 art and investing in Web3 culture and entertainment, among others.

It also has a dedicated event for investors, a competition for startups, a hackathon and additional side events.

Cointelegraph editor-in-chief Kristina Lucrezia Cornèr, head of video Jackson DuMont and reporter Joseph Hall are deployed on the ground in Paris all week to deliver the most recent developments from Paris Blockchain Week.

*(From left to right) Jackson DuMont, Kristina Lucrezia Cornèr and Joseph Hall. Source: Cointelegraph*

On March 20, the investors' event kicked the week off by bringing together investors with interests in Web3, nonfungible tokens (NFTs), the metaverse and blockchain applications.

Stay tuned for continuous updates from the events, including key takeaways, highlights and behind-the-scenes footage.

Last year's event saw around 3,000 summit-goers with keynotes and fireside chats from some of the most prominent figures in the industry, such as Binance’s Changpeng “CZ” Zhao and Tether’s Paolo Ardoino, among many others.

A moral metaverse

Metaverse crime and punishment

Decentralized democracy

On the radar

Current licensing challenges

Licensing potential in the metaverse

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