Nissan drives into metaverse with new trademark filings

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1/ Nissan files 4 new Web3 trademarks, trials sales in the metaverse

Japanese automotive brand Nissan drives into the web3 world by filling four new web3-related trademarks in the United States - covering its Infiniti, Nismo, and Nissan brands - while its Japan unit fiddles with auto sales in the metaverse.

The filings reveal plans to:

• Create virtual clothes, cars, headgear, trading cards, toys, tickets, and an NFT marketplace

• Metaverse advertising services and other “entertainment services” covering online video, images, artwork, tickets, audio, sounds, music and trading cards

• A website with information about Nissan’s proposed NFTs and how they will work

• Intent toward a “non-downloadable computer software for use as a digital wallet”

Amid the ongoing crypto bear market, auto makers appear to be in a race to enter NFTs and the metaverse. General Motors has also been actively filing NFT-related trademarks (the latest made on February 16 to cover its Chevrolet and Cadillac brands), while Ford filed 19 trademark applications in September 2022.

2/ Draft of crypto’s most hopeful regulatory bill to be released in April

Uncertainty still surrounds cryptocurrency regulation in the US, mostly attributed to the SEC’s approach of regulation by enforcement, along with a general lack of classification around emerging assets.

First introduced in June 2022, the bipartisan Lummis-Gillibrand regulatory bill aims to offer clarity and designate a leading authority in crypto. What we know so far:

• The 69-page bill outlines everything from establishing definitions in crypto to guidelines around taxing digital assets.

• The proposed taxation guidelines include transactions under $200 being tax-free.

• Senator Gillibrand says the bill’s updated draft will become publicly available in mid-April.

As the regulatory framework is hoped to encourage financial innovation, flexibility, transparency, and consumer protections around digital assets, many wait with bated breath as to how it plays out - and how it will look like in its final form.

3/ Circle’s $3.3B USDC reserve at SVB purportedly free of risk

The collapse of Silicon Valley Bank (SVB) marks a major setback for the blockchain industry and its associated ecosystems.

One exposure in the field is the collapsed bank holding $3.3B in Circle's USDC reserves, with many more startups and jobs likely to be impacted by the failure leading to a significant economic fallout.

As far as Circle is concerned:

• CEO Jeremy Allaire has been quick to reassure, tweeting that “Circle’s USDC operations will open for business on Monday morning, including with new automated settlement via our new partnership with Cross River Bank.”

• The stablecoin is declared free of risk from SVB’s collapse due to a joint decision by the US Treasury, Federal Reserve, and FDIC to make depositors to SVB whole.

• Circle would cover any risk and that the token would be redeemable at its usual 1:1 ratio with the USD come Monday morning.

While a crisis appears to be averted, the domino effect of the collapse on the banking system and tech industry is yet to be witnessed.

4/ Home Depot uses metaverse Roblox to try to appeal to young customers

Home improvement giant Home Depot is leveraging Roblox to create a unique virtual experience for children with its Virtual Kids Workshop.

Once inside the virtual Home Depot store, kids can interact with tools and materials and participate in interactive building activities, all while learning about projects they can tackle at home.

Insider gets inside the new virtual space launched in Radcliffe City on Roblox, a virtual Home Depot deemed a “brilliant advertisement” for the tiny tots though found “extremely bizarre” but the writer, who found virtual supplies and built virtual items like a bird house and 2-seat car.

Will this new metaverse for kids stand the test of time, or disappear like many other ventures made to test the proverbial waters?

🏃‍♂️ Quick Hits

🎮 Gaming

• Pokémon’s newly opened Corporate Development Principal role is eyeing someone to bring “deep knowledge and understanding of web3, including blockchain technologies and NFT, and/or metaverse.” Hmmm. (Link)

• “We’re working very hard to create that feeling of getting into the Lego brand universe also digitally,” notes Lego amid reports of its metaverse collaboration with Fortnite creator Epic Games. (Link)

• The metaverse stands to significantly benefit Africa’s gaming and entertainment amid rising internet use and smartphone penetration. (Link)

• Persona 5, a JRPG set in the metaverse, is one of the 8 games to play if you love cel-shaded art. (Link)

🕶 Fashion

• Themed “Future Heritage,” Metaverse Fashion Week 2023 is set to rock Decentraland and offer all things interoperability and digital fashion. (Link)

• At MFW 2023, Dolce & Gabbana launches its digital wearable contest called Future Rewind Competition. (Link)

• In Dubai, UAE’s first ever Digital Fashion Week will also hit the runway and showcase phygital experiences. (Link)

• NFSHE, an accessories brand crafting physical products tied to digital tokens, talks about how tech is changing the fashion landscape. (Link)

• What could possibly be the problem with digital fashion? (Link)

• In Singapore, community-based lifestyle platform Meflex announces a new NFT marketplace and MEF token to transform how people buy and collect luxury goods. (Link)

🏀 Sports

• NASCAR joins the web3 race and launches the NASCAR Speed Hub on Roblox, promising car design thrills for players, exclusive virtual items, mini games, and more. (Link)

• How are blockchain and fintech transforming fan engagement and commercial partnerships? (Link)

• AR platform Quintar’s Jeff Jonas discusses how AR enhances the golf fan experience. (Link)

• Pickleball and paddle sports equipment brand Gearbox Sports launches virtual tournament Gearbox Playin Pickleball VR Open. (Link)

• Crypto firms like VeChain and Algorand are trying to gain more visibility and exposure through various sports partnerships. (Link)

🎥 Media & Entertainment

• Celebrity chef Gordon Ramsay is set to bring his famed Hell's Kitchen NFTs to The Sandbox. (Link)

• Meta is expanding its reach into decentralized social media by launching the new app P92. (Link)

• Dubai's first-ever metaverse mall offers shoppers concerts, movies, and more that IRL shopping could possibly offer - in the virtual space. (Link)

• Can the metaverse ever replace physical offices and revamp online socialization? (Link)

• Street performers use the metaverse to enhance busking, complete with mind-warping visual effects and immersive takes. (Link)

• A Chinese parliament member sounds the alarm on the impact of fraudulent NFT activities on youth and calls for regulation. (Link)

🖼 Art

• Speculation about Amazon's rumored foray in the crypto and NFT world has been heating up, causing a frenzy of worry in Sandbox, Decentraland, and Dogetti. (Link)

• Digital artists reimagine LACMA's permanent collection in a pioneering project to fuse traditional art with new tech. (Link)

• Family Style Fest in LA offers limited-edition NFTs by Azuki Beanz on its menu. (Link)

• Animoca Brands and Planet Hollywood Resort & Casino team up for an NFT-based member-only club featuring exclusive events and digital collectibles. (Link)

• Shytoshi Kusama teases the crypto community with the image of SHIB: The Metaverse project, set to showcase at 2023 SXSW with a virtual reality tour of the WAGMI Temple. (Link)

• Crypto exchange platform Coin's VR Avatar Studios empowers VR influencers in the Philippines to monetize their content. (Link)

🤖 AI

• In an “interview” with an AI chatbot, Bill Gates advises himself to take more time off, as he’s being overly intense and a non-believer of weekends or vacations. (Link)

• Lotte Duty Free is reshaping its marketing with AI and a Big Data-based personalization system. (Link)

• This Passover, an Israeli retail chain is taking its branding to the next level with AI ChatGPT and Midjourney. (Link)

• Third-party browser extensions can enhance a user's ChatGPT experience by offering chat exporting, improved prompts, and access to web searches. (Link)

• The Misalignment Museum in San Francisco blends hilarity and horror to illustrate the potential perils of AI. (Link)

• The Singaporean government is exploring how AI can help civil servants get the job done. (Link)

• How should content marketers deal with AI and AI-driven content? (Link)

💸 Funding & Partnerships

• The South Korean government invests 24B won ($18.1M) to create a fund of more than 40B won ($30.2M) toward metaverse development. (Link)

• Japan’s martial arts entertainment giant BreakingDown partners with XANA Metaverse for the web3 collaborative game where avatars fight in the virtual realm. (Link)

• Haircare brand Living Proof partners with experiential e-commerce platform ByondXR to launch its debut virtual store. (Link)

• The Van & Stuyvesant Companies ties up with cross-platform fashion marketplace MetaWear Fashion to produce NFTs and fashion shops. (Link)

• Vienna's WU and Tomorrow University launch an online master's program in sustainability, entrepreneurship, and technology in the metaverse. (Link)

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All content on this newsletter is for informational purposes only and does not aim to serve as or replace expert investment advice.

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