Big Week For The Metaverse and AI Technology
In a week that brought forth Massive European adoption of the Metaverse and more exciting news for AI, we take a look at the top talking points.
European Commission Announces Plan to Spearhead WEB 4.0 and Metaverse Revolution
The European commission has announced its plan to champion the next generation of the internet and Metaverse, dubbed WEB 4.0.
In a tweet, the commission marked out its plan to harness the power of Extended reality, a term that encompasses Virtual reality, Augmented reality and mixed reality. The European power house plans to use this integrated approach to create as many as 860,000 jobs in Europe by 2025.
Notorious B.I.G. Photo Up for Auction AS NFT
A famous photo of the late rapper; The Notorious B.I.G. is currently being auctioned off as part of a series of NFTs, with the physical photo tied to an Ethereum NFT as well.
The photo was originally taken in 1997 by photographer Barron Claiborne and dubbed “The King Of New York.” The photo was taken three days before the rapper was killed in a drive-by shooting. The auction launched earlier today via the Kairos platform and will last for 30 days. Bids start at 50 ETH ($93,500).
Elon Musk Announces the Formation of New AI Company
Billionaire Elon Musk has announced the formation of a new AI company, xAI via his twitter handle on Wednesday, 12th July. The spaceX And Twitter owner delves into the world of Artificial intelligence after acquiring twitter last year in a stunning $44b deal.
Musk establishes his own AI company after parting ways with OpenAI a few years ago, with the primary goal of ‘understanding the true nature of the universe’ According to the new company’s website.
South Korea Implements New Crypto Accounting Rules
Starting in 2024, the Financial Services Commission (FSC) in South Korea will introduce new regulations to promote transparency in the cryptocurrency industry.
Companies that issue or possess cryptocurrencies will be required to provide detailed information about their crypto holdings and transactions in their financial statements.
Mark Zuckerberg Trains with UFC Champions Israel Adesanya and Alexander Volkanovski
Mark Zuckerberg has commenced intense training with UFC middle weight Champion Israel Adesanya and UFC Featherweight Champion Alexander Volkanovski, weeks after the Meta CEO agreed to a “cage match” with Elon Musk.
Israel Adesanya Revealed this in a Twitter post on Wednesday, 12th July, as the Fight between Zuckerberg and Musk draws closer.
Microsoft Wins Court Case in Deal to Acquire Activision
Microsoft has won the court case, permitting the multibillion-dollar tech company to acquire Activision Blizzard Inc. in what would become the largest gaming deal ever.
Defeating the efforts by the US Federal Trade commission to block the deal, Microsoft can now close a deal with Activision before the July 18 deadline. The Federal Trade Commission can still appeal the order denying a preliminary injunction and continue a case before its in-house judge in a trial set to start August.
Goldman Sachs Tips India to Become World Power
India Set to Soar! Goldman Sachs has predicted that by 2075, India will become the world’s second-largest economy, outpacing Japan, Germany, and the US. The report mentioned India’s favorable demographics, emphasizing the need to boost labor force participation and provide skill development opportunities.
The country’s progress in innovation and technology was also praised. Capital investment, rising incomes, and digitization are expected to fuel India’s growth.
