Since late last year, the Metaverse continues to draw plenty of interest from mainstream players from across the world.
Big Names Enter the Metaverse in 2022
Last month, Warner Music Group (WMG) announced that it had gone Metaverse with a Sandbox (SAND) theme park. Following WMG’s entry into the Metaverse, U.S fast-food chain McDonalds partnered with Humberto Leon to roll out a Zodiac collection within the Metaverse. The collaboration was in recognition of the Lunar New Year and the Year of the Tiger. From 1st February to 15th February, fans can enter AltspaceVR and Spatial, virtual reality platforms. Here, fans can view the Zodiac collection and more. Humberto Leon is the co-founder of fashion brand Opening Ceremony, with retail stores across the world.
Not all the news has been positive, however, with news of Metaverse sexual harassment forcing the Korean government to take action. While regulators have taken a closer look at NFTs, the Metaverse had drawn less interest. China central bank, the People’s Bank of China, had been among the first to raise concerns over the Metaverse.
In spite of concerns over the Metaverse being a pathway for illegal activities, the number of events in the Metaverse continues to rise.
First Metaverse Wedding Takes Place in Decentraland
On Friday, a wedding took place in Decentraland (MANA). According to the news, a couple wed with their digital identities. Rose Law Group formalized the marriage in what was claimed to be the first ever U.S Metaverse wedding.
Rose Law Group hosted the wedding on its very own Decentraland estate. The law firm also went on to place the marriage on the blockchain as an NFT. Guests were also able to get a rare NFT party favor that represented the historic event.
There has been some debate over the legality of the wedding, however, despite the involvement of Rose Law Group. According to the American Marriage Ministries (AMM), all states that allow virtual online weddings require officiants and couples to use video-conferencing technology that allows them to see and hear each other in real-time, without anything that distorts their appearance. Therefore, Metaverse weddings won’t be legally binding until there is a law change.
Metaverse Linked Price Predictions for 2022
According to a report published late last year, SAND and MANA are two leading projects in the Metaverse space. Both tokens were amongst the best performers last year. The markets are expecting more of the same as interest in the Metaverse grows. Morgan Stanley analysts reportedly see the Metaverse potentially growing to an $8tn market.
This article was originally posted on FX Empire
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