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Polygon partners with ocean conservation NGO to advance ocean literacy

Participants can explore the RV Odyssey — one of the most advanced ocean research vessels around the globe — via the Metaverse.

Decentralized Ethereum scaling platform, Polygon, has announced a partnership with the Ocean Conservation Exploration and Education Foundation (OCEEF) to promote ocean literacy through new creative, entertaining, and engaging ways to give people exposure to deep underwater missions. 

Polygon shared that the aim of this collaboration is to offer interactive experiences via a governance platform where participants can help in making key decisions surrounding the RV Odyssey — one of the most advanced ocean research vessels around the globe. Participants will be able to explore the state-of-the-art research vessel via immersive and interactive experiences in the Metaverse.

The partnership intends to allow participants to play a key role in deciding the vessel's future itinerary, research, and even engage in the missions on board through the metaverse and other Web3 tools.

At the Green Blockchain Summit 2.0 hosted by Polygon, OCEEF Founder Alex Moukas said:

"Using our Polygon partnership and its carbon-neutral tech as a launchpad, we will be using technology to democratize access to the vessel through multiple Web3 platforms as well as provide participants with the ability to help decide the vessel's future itinerary and research.”

OCEEF will also allow groups of students to join their teams for different missions and dives. These opportunities will be made available through NFTs which would go towards funding the project.

Sandeep Nailwal, the co-founder of Polygon spoke on the subject, saying:

"Being able to facilitate a global endeavor such as the one that OCEEF is undertaking is very humbling. I know that our technology is up to the task of bringing these types of immersive, educational, and change-making experiences to people all over the globe."

In April, Polygon’s core team committed to becoming carbon negative by the end of the year and dedicated $20 million to climate-related projects. Since then, Polygon claimed to hav achieved carbon-neutral status, eliminating 104,794 tonnes of greenhouse gasses, more than the entirety of the network’s CO2 debt since inception.

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Nifty News: Zilliqa teases Web3 gaming console, Funko teams up with Warner Bros. and more…

Specifications on Zilliqa’s "user-friendly" console are yet to be revealed, but a prototype design resembling an Xbox console has been released.

Blockchain company Zilliqa is launching a Web3 focused console with a cryptocurrency wallet and mining capabilities, along with featuring gaming titles from the company.

On Sept. 23, prototype images were released showing an array of ports including HDMI, Ethernet and USB connections, although full hardware specifications and the price of the unit remain guarded. The console itself looks similar to something from Xbox, but has two green panels on the top.

Zilliqa has said the console is geared toward user-friendliness and similar to conventional gaming titles will incentivize users to complete gaming missions, quests and tasks to mine its native token ZIL as a reward.

Beta testing on the console starts in October, with units expected to be available for pre-order in the first quarter of 2023. Zilliqa is a layer-1 blockchain designed for creating smart contracts and decentralized applications (DApps), it has 15 gaming projects according to its website.

In July Web3 gaming startup Polium announced its similar console, “Polium One”, supporting gaming non-fungible tokens (NFT) across eight blockchains, although the Polium One isn’t set for release until Q3 2024.

Funko and Warner Bros. collab on Walmart exclusive NFTs

Pop culture brand Funko has partnered with entertainment company Warner Bros. to offer bundled physical and NFT collectables exclusively through American retail giant Walmart.

The bundle includes a physical comic book cover and Funko figurine for DC Comics “The Brave and the Bold,” known amongst fans for introducing the concept of the popular “Justice League” superhero team, along with a matching Funko “Digital Pop!” NFT.

Funko's "Brave and the Bold" physical bundle. Source.

The collection is limited to 30,000 units and will debut during Walmart’s Collector Con in October, the NFTs will mint on the WAX blockchain.

Funko has continued to expand the NFT counterpart of its flagship “Pop!” figurine line which started in Aug. 2021 with a Teenage Mutant Ninja Turtles collection. Funko CEO Andrew Perlmutter has stated the company is creating NFTs to meet demand from younger collectors who value digital goods and assets.

New England Patriots get Web3 partner in Chain

Web3 software company Chain has become the official blockchain and Web3 sponsor of the National Football League (NFL) team New England Patriots, professional soccer team New England Revolution and both team's home ground, Gillette Stadium.

Related: NFTs ‘biggest on-ramp’ to crypto in Central, Southern Asia and Oceania: Report

Chain has partnered in a multi-year deal with Kraft Sports + Entertainment, the owner of both professional teams and the stadium, to develop what it calls “state-of-the-art Web3 experiences” using Chain’s product suite, but didn’t provide exact details on its plans.

Chain CEO Deepak Thapliyal did state however that the company is aiming to “build cutting edge experiences for stadium visitors” as part of Chain’s product lineup includes support for NFTs.

Christina Aguilera files for NFT and Metaverse trademarks

Filings shared by trademark attorney Mike Kondoudis show singer Christina Aguilera has filed trademark applications with the United States Patent and Trademark Office for multiple NFT, Metaverse and crypto related products.

The filings reveal plans for the star to create audio, video and music files “authenticated by NFTs” along with “blockchain based non-fungible assets” such as virtual avatars, clothing, beauty products, other virtual merchandise and “crypto collectibles.”

Part of the application also mentions Aguilera providing musical performances, concerts and games “in the Metaverse and other virtual environments.”

More Nifty News:

NFT marketplace OpenSea announced the implementation of OpenRarity on Sept. 22, a protocol that provides verifiable rarity calculations for NFTs within its platform. The protocol uses a transparent mathematical approach to calculating rarity.

Web3 tech firm nameless is set to launch an NFT software product that enables developers to test their NFT smart contracts on fully private test nets.

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Hardware wallet Trezor enables direct crypto purchases with MoonPay

The new integration with MoonPay and SatoshiLabs-founded Invity platform provides buy, sell and exchange features directly in the Trezor wallet.

Hardware walletcompany Trezor is moving to enable direct crypto purchases with a new partnership with the crypto fintech startup MoonPay.

Trezor, Czech Republic-based hardware wallet provider, has partnered with MoonPay to allow its customers to buy crypto directly in their hardware wallet, according to an announcement on Wednesday.

Backed by major industry investors including Tiger Global and Coatue, MoonPay is a crypto payment service that allows users to buy and sell cryptocurrencies and nonfungible tokens (NFTs) using debit cards, credit cards and other payment methods. In April 2022, the firm raised $87 million from investors like Justin Bieber and Snoop Dogg to focus on NFTs and Web3.

The collaboration with MoonPay builds on Trezor’s previous partnership with Invity, a crypto exchange comparison tool integrated directly into the wallet.

Like Trezor, Invity is a startup operating under the parent firm, SatoshiLabs. The platform connects clients with trusted partner exchanges to provide direct-to-custody trades with various payment methods. Combined, the three platforms provide buy, sell and exchange features directly in the Trezor wallet.

The new integration allows customers to buy and sell a wide number of cryptocurrencies through a noncustodial crypto wallet, helping users to better protect their funds. At the time of writing, Trezor supports more than 1,000 cryptocurrencies, including Bitcoin (BTC), Ether (ETH), Tether (USDT), BNB, Cardano (ADA) and others.

Related: MoonPay to make Web3 payments with Unstoppable Domains partnership

The latest news is yet another milestone for crypto purchases on Trezor, as the hardware wallet has been previously supporting crypto buys on its native app Trezor Suite via an in-app Trade feature. The option has been available through the crypto exchange comparison tool created by Invity since at least late 2020, Trezor said in one of its blog posts.

“By allowing Trezor owners to buy crypto directly from their wallet, we’re tapping into a committed cohort of cryptocurrency users who take security very seriously,” MoonPay senior business development manager Antonio Talledo said. “Through this partnership with MoonPay, we’re taking the lead to bring secure, borderless and easy financial freedom to billions" 

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DeFi market has room for growth in Korea: 1inch co-founder — KBW 2022

1inch plans to expand into a largely untapped Asian market, but a lack of DeFi knowledge is preventing mass adoption

Decentralized-finance (DeFi) aggregator 1inch Network has revealed plans to expand its reach in Asia.

Speaking to Cointelegraph during Korean Blockchain Week (KBW) 2022 on Aug. 8, co-founder Sergej Kunz said that despite the DeFi market being relatively small in Korea and Asia, there are a number of Asia-based Web3 companies that 1inch is looking to partner with.

However, Kunz also added that the biggest barrier to entry appears to be a lack of understanding about DeFi and how to use crypto wallets:

“As soon as people understand that they can [yield] farm, they can swap, they can exchange and get easy access to cryptocurrencies on Ethereum with a few simple EVM-compatible networks, the market will grow a lot.”

However, Kunz also added that the popularity of blockchain-based gaming in Asia could bring more individuals into the DeFi market.

“Here, there are a lot of people who like gaming and a lot of things like that, so I think the DeFi market can grow a lot in South Korea.”

1inch’s plan to expand into the Asian market comes as they told Cointelegraph at KBW that they’re currently working on a partnership with metaverse-focused blockchain Klaytn.

The 1inch Network’s main use case is a decentralized exchange (DEX) aggregator which scans DEXs to find pools with the largest liquidity, lowest slippage, and cheapest cryptocurrency exchange rates. 1inch also provides users with a mobile wallet that can be used for DeFi purposes.

Transactions on the network are powered by the 1INCH token, which is priced at $0.83 at the time of writing.

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F1 Monaco GP: Bybit’s Red Bull Racing NFTs, crypto-F1 partnerships, more

From NFTs and fan tokens to multi-year partnerships, the crypto community continues to support the F1 landscape in numerous ways.

Crypto has taken over the world, and Formula One was no exception to the disruption. From NFTs and fan tokens to multi-year partnerships, the crypto community continues to support the F1 landscape in numerous ways.

Monaco Grand Prix 2022 saw F1’s fastest pit crew, Oracle Red Bull Racing (ORBR), partner with crypto exchange Bybit to launch ORBR’s 2022 NFT collection — minted over the Tezos blockchain. The limited-edition NFT collection is made available via an auction, wherein bidders get to collect digital collectibles representing various aspects of Red Bull’s past, present and future.

Speaking to Cointelegraph editor-in-chief Kristina Cornèr, Bybit co-founder and CEO Ben Zhou said that F1 has a symbiotic relationship with crypto as the partnerships between the two industry pulls in young investors into the F1 fan base:

"Formula 1 is the challenger of the norm, and that really goes well with crypto. [...] It's a really huge synergy we see."
Max Verstappen's F1 car sporting the Bybit logo. Source: Cointelegraph

Parallelly, Bybit premiered “The Search for the Next Level,” a film starring Red Bull drivers Max Verstappen and Sergio “Checo” Pérez — (spoiler alert) circled around the launch of the new RB18 car.

Aston Martin F1, too, signed a multi-year partnership deal with crypto exchange Crypto.com for exploring fan engagement and investment initiatives. Crypto.com NFT marketplace continues to be the go-to place for Aston Martin NFT airdrops and limited-edition collectibles.

This year crypto giant Binance partnered with Alpine F1 Team to issue NFT airdrops and collectibles. Taking fan engagement to the next level, Binance conducted an event on May 20, allowing one fan to experience the life of an Alpine F1 mechanic.

Cointelegraph previously reported on the overall crypto-F1 partnerships as of March 2022.

A few prominent collaborations active during the Monaco Grand Prix 2022 are Ferrari and blockchain firm Velas, Mercedes and crypto exchange FTX, and Alfa Romeo and Shiba Inu (SHIB) inspired meme token Floki.

Related: Blockchain, crypto set to take sports industry beyond NFT collectibles

A recent study conducted by fintech giant Deloitte concluded uncovered the potential of blockchain and cryptocurrencies to open up new markets and revenue opportunities for the sports industry:

“A nexus will form around sports collectibles, ticketing, betting, and gaming. We are just beginning to see its [cryptocurrency’s] potential, as well as the new markets it could lead to.”

The study also highlighted the possibility of new markets that allow “fractional ownership of season tickets and suites and a reinvention of the ticket resale process.”

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WEMIX gains 200%+ after stablecoin and boosted staking rewards announcement

New partnerships, a mainnet upgrade and plans to launch a stablecoin appear to have triggered a 200% rally in WEMIX price.

Blockchain-based gaming, also known as GameFi, is an up-and-coming sector that could potentially be one of the primary catalysts for kickstarting the mass adoption of blockchain technology.

WEMIX, a gaming protocol that operates on the Klaytn network, aims to get in on the GameFi revolution and this week, the project's native token (WEMIX) rallied even as the wider market continued to sell-off.

Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $1.27 on May 12, WEMIX price climbed 269% to hit a daily high at $4.70 on May 25 as its 24-hour trading volume increased to $652 million.

WEMIX/USDT 1-day chart. Source: TradingView

Three reasons for the price reversal for WEMIX are the upcoming launch of WEMIX 3.0, a series of project launches and partnership agreements, and the introduction of lockup staking for token holders.

WEMIX 3.0

The main development attracting attention to WEMIX is the protocol's planned mainnet launch, which is scheduled to take place on June 15.

WEMIX 3.0 will be an Ethereum virtual machine (EVM) compatible public chain that will utilize a stake-based proof-of-authority (SPoA) consensus algorithm.

As part of the mainnet launch, WEMIX will also be introducing the WEMIX Dollar (WEMIX) as the native stablecoin of the ecosystem.

WEMIX will be a 100% collateralized stablecoin, backed by USD Coin (USDC) and off-chain assets like fiat currencies.

New partnerships boost excitement

May has been a busy month for the WEMIX protocol after multiple games launched or announced their upcoming launch dates on the network. New additions include Crypto Ball Z, Four Gods and Every Farm, as well as the onboarding of the SpoLive sports prediction game.

Along with protocol launches, WEMIX announced several strategic investments including being the lead investor in the Old Fashion Research (OFR) crypto fund as well as an investment in an U.S.-based augmented reality metaverse startup called Jadu.

On May 17, the team behind WEMIX also signed a memorandum of understanding with the Vietnam Blockchain Association.

Related: Former Binance executives launch $100 million venture fund

Increased staking rewards

WEMIX also launched Stake360, an incentive that offers WEMIX holders boosted staking rewards for committing to an extended lockup period.

In addition to the standard 7% staking reward available to all token holders, investors who agree to a 90 to 360 day lockup can earn from 9% to 20.28%.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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Global private bank LGT to open Bitcoin and Ether trading

LGT Bank has partnered with the Swiss crypto bank Seba to offer custody and trading services for Bitcoin and Ether.

LGT Group, a top family-owned private banking and asset management group, is moving into cryptocurrency by launching Bitcoin (BTC) and Ether (ETH) investments at LGT Bank in Liechtenstein.

Managing over $292 billion of assets, LGT Bank is preparing to debut digital asset custody and trading services in cooperation with Swiss cryptocurrency bank Seba, according to a joint announcement released on Wednesday.

LGT Bank will initially offer custody and trading services for BTC and ETH, while Seba supports more than 14 cryptocurrencies, including altcoins like Litecoin (LTC), Polkadot (DOT), Tezos (XTZ), the Tether (USDT) stablecoin and others.

According to the announcement, LGT’s crypto services will be fully integrated with traditional assets, enabling clients to easily exchange assets in their existing portfolios. The new offering will be initially available to selected client groups of LGT Bank. In order to access the new services, clients must be based in Liechtenstein or Switzerland and be classified as professional clients or be managed by an external asset manager.

Headquartered in Vaduz, Liechtenstein, LGT is one of the world's largest wealth managers and investment companies. The banking giant traces its history back to 1920 and has a key presence in Switzerland in addition to more than 20 offices around the globe.

LGT Bank’s entrance into crypto aligns with the firm’s commitment to meet the increasing demand for investment opportunities, Liechtenstein’s LGT Bank CEO Roland Matt said. He added:

“The demand for cryptocurrencies has also increased among our clients in recent years. When developing our new offering, we paid particular attention to security while focusing on clear, reliable processes and procedures. They are central for dealing with this dynamic and still quite young asset class.”

The news further reaffirms the ongoing trend on global banks and asset managers increasingly adopting investment services for Bitcoin and other cryptocurrencies. On Monday, Argentina’s largest and second-largest private banks, Banco Galicia and Brubank, announced plans to enable crypto purchases for clients.

Related: German banking giant Commerzbank applies for crypto license

As previously reported by Cointelegraph, some of the world’s most prominent banks made major moves into Bitcoin in 2021, with Bank of New York Mellon announcing plans to hold and transfer BTC as an asset manager on behalf of its clients in February. Other global banks like Argentina’s BBVA and U.S. Bank subsequently announced the launch of similar crypto investment services.

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Gemini crypto exchange launches credit card in United States

Users can get their cashback reward in over 60 different cryptocurrencies supported by Gemini.

Gemini, a major cryptocurrency exchange founded by the Winklevoss twins, has launched its crypto credit card.

The company officially announced Thursday that its Gemini Credit Card is available in the United States across all 50 states.

The new card is issued by the state-chartered industrial bank WebBank and features Mastercard as the exclusive card network.

The card’s rollout comes more than a year after Gemini initially announced the project in 2021, aiming to reward users for using crypto for everyday transactions. Since launching the Gemini Credit Card waitlist last year, more than 500,000 users have signed up for the product, the firm said.

The Gemini Credit Card supports more than 60 cryptocurrencies for rewards, including Bitcoin (BTC), Ether (ETH), Dogecoin (DOGE) and others. Cardholders are able to earn up to 3% crypto back on dining, 2% on groceries, and 1% on all other purchases.

When a cardholder makes a purchase, Gemini automatically converts the United States dollar-denominated value of the reward into the selected digital asset and deposits it into the cardholder’s Gemini account. Cardholders can change their selected crypto reward as often as they wish, which enables customers to earn not just one cryptocurrency.

Mastercard’s executive VP of digital partnerships Sherri Haymond noted that the payment company shares Gemini’s belief that providing relevant crypto rewards experiences will “not only empower consumers, but also unlock access to the digital currencies ecosystem.” 

Gemini chief technology officer Pravjit Tiwana said that the new credit card reaffirms the company’s commitment to remove barriers of entry for consumers who want to get into cryptocurrencies like Bitcoin. Tiwana mentioned that the crypto industry had a breakout moment in 2021, with 44% of crypto owners in the U.S. reported making their first crypto purchases last year.

Related: New crypto card by Nexo allows users to pay without selling Bitcoin

As previously reported by Cointelegraph, the concept of crypto cashback cards has been taking off recently, with companies like BlockFi and Venmo launching crypto reward cards last year. According to the crypto loan startup BlockFi, Bitcoin rewards were responsible for some extent of the shopping frenzy for cardholders last year, with cardholders earning more than 124 BTC in rewards collectively just in the first three months since the cashback program’s launch.

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UK-based loan provider lets investors tokenize their fund with Securitize partnership

The bridge financing fund becomes the first UK-based company to establish such partnership with a U.S. platform.

Whitehall Capital, a London-based loan provider, struck a deal with an American digital asset securities marketplace Securitize to enable its investors to hold their units as blockchain tokens.

According to an April 11 announcement, Whitehall investors will be able to use buy and sell units in the Whitehall fund via Securitize platform. After registering on Securitize, an investor will see their assets as a number of tokenized units, with the performance markers, investment reports and other valuable information included. They could also trade the units with other investors by posting a bid to buy or sell a certain quantity.

According to Anthony Bodenstein, managing partner at Whitehall Capital, the blockchain tokens, backed by loans that are secured by property assets, will deliver an 8-10% income annually:

“As there is currently no secondary market for investments in Whitehall Capital, we anticipate investors will quickly take to the benefits of working with this easy-to-use and interactive platform and holding units in this way.”

Securitize will be responsible for issuing tokenized shares, delivering them to shareholders and tracking transaction activity on the blockchain.

Related: Old but gold: Can digital assets become part of Americans’ retirement plans?

In September 2021, Securitize has already partnered with Arca Labs, the innovation arm of digital asset investment firm Arca, to provide a smart contract and issuance platform for the firm, starting with a tokenized fund named the “Arca U.S. Treasury Fund”. Arca Labs claimed it to be the first treasury fund registered under the Investment Company Act of 1940 to issue shares as digital assets via the blockchain.

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Museums in the metaverse: How Web3 technology can help historical sites

Historical-site metaverses may become a new business model for tourism, and they may rewrite history in the process.

Metaverse events at ancient and historical sites could soon shape up to be an alternate future for tourism.

Owners of physical castles and villas who have drafted up augmented reality blueprints of their properties think their ambitious plans to attract visitors in the metaverse will work, as virtual events can help them pay the hefty maintenance bills for their aging properties and also offer a chance to change historical narratives.

The metaverse tourism model was expedited by downturns in tourism brought about by COVID-19, but the industry may have already been heading that way. 

Currently, major metaverse platforms are clunky, difficult to use and waiting for more “real estate” development, but firms are concentrating on what could be. Brands seem to be entering the metaverse en masse just for PR bragging rights.

So, it seems the possibility of learning existing, new and revised histories through the metaverse is not so remote. 

Nonfungible castles, villas and chateaus

Michelle Choi, founder of 3.O Labs — a Web3 venture lab — turned to digital opportunities to finance the upkeep of physical paintings, such as selling nonfungible tokens, or NFTs, as fundraisers to preserve illiquid assets.

Choi was a product manager at Google when she noticed the downturn in museum tourism due to COVID-19, seeing it as an opportunity for future metaverses. She subsequently quit her job and started her own metaverse experiments.

She began by working with a team to launch Non-Fungible Castle, an NFT exhibition and auction at Lobkowicz Palace, a real-life castle in Prague, held in October 2021. The event saw NFTs displayed next to 500-year-old paintings and had the goal to “broaden accessibility to cultural heritage.”

The launch raised enough to cover the restoration of all urgent projects at the property. Motivated by this proof-of-concept, Choi and 3.O Labs are now busily curating metaverse tourism experiences globally.

With the broader mission of making Web3 accessible to all users, 3.O Labs is already incubating an array of Web3 projects ranging from NFTs to decentralized autonomous organizations, or DAOs. Within its metaverse vertical, the venture lab is already building a project in a castle in Germany, which will be followed by a villa in India and then possibly a museum in Ghana.

Lobkowicz Palace. Source: Prague Morning

 Choi told Cointelegraph about her long-term vision for metaverse travel:

“Travel will be augmented as a teaching tool. In the past, tourism meant visiting a place. Photos were 2D, but 3D travel then emerged with virtual headsets. 4D time experimentation is now possible. Now, we can mesh different time periods. There’s a teaching angle.”

This raises a series of questions regarding what new histories will be created in the metaverse.

Will history be rewritten in the metaverse?

For better or worse, tourism businesses, education platforms and museums could reimagine history in the metaverse.

Priyadarshini Raje Scindia’s family owns Jai Vilas Palace, a 200-year-old palace-turned-museum in Madhya Pradesh, India. She is planning an NFT collection produced by local artists to fund a metaverse experience. COVID-19 shut her museum for two years, allowing time for some needed — but expensive — restoration work. 

Scindia told Cointelegraph that NFTs should be embraced as art, as “Every generation has its art and the interpretation of it. This is a new medium and a new platform for hungry, emerging Indian artists.” She added that there “should be no barriers around art creation.”

Scindia is convinced that the metaverse is the future, as “A person usually visits a museum once,” but they can visit multiple times in the metaverse. She says that in India, especially, museums are not the first destination people think to go to for entertainment. Private museums in small towns can be taken for granted, especially when compared with shopping malls and cinemas. So, she is working with 3.O Labs to “create immersive experiences — for example, animations that allow you to put yourself in short history documentaries.” It’s about opening more doors for conversations and education.

Scindia also has a story to tell the world via the metaverse:

“I disagree with my family history. We have rooms of research documents in the palace. Now is the right time and the right platform to correct history.”

She told Cointelegraph that the historical narrative she would like to paint with her immersive experiences is “to tell the real story of my clan, the Maharatas. Retelling the story told by the British, which sounds like a Game of Thrones book — dark and barbaric. We fought for independence from all exterior forces, yet it was made out that we were fighting Indians in India. It is a historic fact that the Maharatas were the rulers of India, post the Mughals. And their narrative and value system are even more essential to study and understand today. I would like to use the platform to change the narrative through art, culture and history.”

“I disagree with the way Maratha history is portrayed. However, today there is a renewed interest, maybe because of the glamor of cinema, but there’s also a new world out there. People have a deep interest in history today and are rediscovering art and history. The metaverse may be the right platform to inform and educate people, to generate interest, so they may start their own journey of a deep dive into history, art and culture through this amazing world.” 
Jai Vilas Palace. Source: Mohitkjain123

DAOs for castles, villas and chateau restorations

Prince Heinrich Donatus of the Schaumburg-Lippe family owns Bueckeburg Castle, a castle in northern Germany, 45 minutes from Hannover. Schaumburg-Lippe was one of the 16 reigning families of the German Empire until 1918. Later, the British Army of the Rhine confiscated the castle to use as its headquarters from 1948 to 1953. It had previously been under American control following the end of World War II in 1945 until Germany’s occupation zones were established.

A bullet hole in the outhouse serves as a reminder of the castle’s recent history. Americans were the first to arrive at Bueckeburg during the war, and their tank shell that penetrated the dome is still viewable in the castle’s museum. The family exhibits the shell and has left the hole in the ceiling as a reminder of the war.

Donatus has the same idea as Scindia: a metaverse for historical preservation.

Bueckeberg Castle. Source: Trip Advisor

Donatus, who co-founded 3.O Labs with Choi, will soon operate an NFT exhibition and a DAO-focused hacker house at the castle. He told Cointelegraph that “The metaverse isn’t a virtual reality world. It is a new economy. For example, the incentivization to enter the metaverse could be to protect a castle.”

But why support noble families in 2022?

For illiquid assets like sprawling estates, the cost of maintenance can outweigh a family’s cash flow. The preservation of privately owned sites of historical significance is, therefore, a significant challenge for owners and a national or global public good. 

In 2001, Donatus’ grandfather sold a castle for 1 euro, and the new owner’s latest two attempts to sell the same castle for 1 euro failed to find a buyer. Donatus added:

“Foreigners who buy European castles give up after a year when they realize what is involved.”

“The Bueckeburg castle is not meant to be lived in anymore — it is primarily a cultural site,” Donatus said, “We have the sole responsibility to maintain this history working with limited resources, and suddenly resources can be vastly enhanced and crowd-sourced.”

“Virtual tours could be profitable, though metaverse ideas could take several years to pay back,” noted Choi. “But long term, there are no maintenance or air conditioning expenses for the metaverse.”

Donatus said he foresees a launching DAO treasury for renovations, akin to a “people’s UNESCO” — a reference to the United Nations agency tasked with protecting sites of cultural and historical significance.

DAOs are not constrained by borders, and this can create network effects for new models of tourism. “A sort of PleasrDAO for castles,” said Donatus. “They will include decentralized access/stewardship to castles, and castle hackathons — as castles are a cool place for meetups.”

Augmented 4D metaverse events 

Historical storytelling and experiences can also be augmented to create surreal and impossible scenarios.

“Under no circumstance do I want to experience things I can experience in the real world,” said Donatus. “The Metaverse can recreate and preserve the past.” He said one could create a “tennis match in a ballroom in the Palace of Versailles as a great tourist drawcard.”

Choi said, “In the metaverse, we can upload guns and recreate wars for historical teaching purposes.” Historical reenactments with reconstructed weapons happen all over the world, including in the United States, Germany, Russia, the United Kingdom and Italy, and there may be many future teachable moments in the metaverse.

If metaverses truly are the future, the planning for their rules and composition starts now. This is why, for example, a group of Indigenous Australians plan to set up an embassy in the metaverse. Mixing the ancient and the new is seemingly tenuous, but it all depends on how bullish one is about the significance of the cultural totems in the metaverses of the future.

As metaverses become new models for tourism, they may also rewrite history in the process.

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