Versus Entertainment tapped Decentraland and Lumiere to develop an NFT and Metaverse-focused angle for the upcoming film “Infinite Machines,” which will focus on Ethereum founder Vitalik Buterin.
Adapted from Camilla Russo’s book of the same title, “The Infinite Machine” will be produced by Versace with acclaimed director Ridley Scott’s production company, Scott Free. The film will dive into the story of Buterin and the world’s second largest digital asset, enlisting virtual land worlds Decentraland and Lumiere to develop crypto and NFT-based plots.
Decentraland, a virtual world powered by open-source technology, which allows other member users to expand their worlds. Hong Kong and Singapore-based entertainment specialist Lumire is also supporting the project by developing and integrating the film experience into the Decentraland metaverse.
With a budget of $16 million, the film is expected to undergo its third round of NFT issues in the coming months, making the project the first ever NFT-financed film. There are reportedly 10,499 uniquely designed NFTs in the collection of 36 nascent artists, including works by Lucas Ribeiro, Marella Gonzalez and Eduardo Callegari.
“We believe that Ethereum is enabling a world where users and viewers are now owners and participants, and therefore the film ‘The Infinite Machine’ itself should be part of that movement and give the Ethereum community a film about the platform. should enable us to participate in the creation of it.” Rousseau said.
Decentraland opens new doors for viewers
The film’s executive producer, Francisco Gordillo, described the project as one that “will broadcast the ecosystem potential of Ethereum to a mainstream audience.”
Decentraland’s Alejandro De Grazia said, “We are really proud that a company like Lumiere and a significant film like ‘The Infinite Machine’ has chosen to take their experience to interact with their community fan base.” “The link between movies, their communities, and the metaverse is already happening.”
“This is a case that could change how the entire industry evolves and promotes its content to its fans and audiences,” said Patrice Poujol, Lumiere CEO. Diversity, The agreement between Versus and Decentraland will help develop the NFT archive and integrate it into Decentraland.
The corporate world has begun to embrace the metaverse by purchasing NFTs of virtual tracts of land on the blockchain, where they can build virtual infrastructure for their existing brands in Decentland.
J. P. Morgan
JPMorgan’s “Onyx Lounge,” for example, enables the Wall Street giant to run a virtual bank inside the metaverse. one in recent reportJPMorgan embraced the idea of virtual gaming in the global economy.
Many aspects of the virtual world reflect the global economy, with a focus on factors including population, gross domestic product (GDP), in-game currency and digital assets, which, according to the bank, directly contribute to JPMorgan’s core competencies. feeds.
There are other considerations, including cross-border payments, forex financial asset creation, trading and safekeeping, as well as the ability to serve clients at a large scale, which JPMorgan believes will be good when taken to the virtual world. translation will be done.
For retail fashion chains, including Forever 21, the metaverse is an opportunity to drive new revenue streams into e-commerce and, later, new revenue streams.
In December, Forever 21 entered the metaverse when it opened a virtual store on Roblox, a digital gaming platform that’s hugely popular with kids. Users flock to the retailer’s multi-level digital store where their avatars are able to purchase furniture, clothing and accessories.
During Metaverse Fashion Week in March, Forever was one of 21 brands, in addition to Estée Lauder, to open a virtual store that rented 450,000 square feet of virtual land inside Decentraland. Forever 21’s virtual store enabled users to interact with sales associates and even buy NFTs.
“We have embraced the evolution of the metaverse as it continues to clash with culture,” Vinnie Park, chief executive of the fashion retailer, said in an interview. wall street journal,
In December, Prager Metis, a leading international consulting and accounting firm with New Jersey offices, became the first CPA firm to officially open its headquarters inside the Metaverse, having purchased a three-story building inside Decentraland. Through a joint venture with Banquet LLC, the Metaverse office of Prager Metis currently provides real-world services that are critical to the Metaverse world.
Prager-Metis International LLC, a New York-based accounting firm, opened a virtual building in Decentraland, announced on January 7, 2022. The company purchased the three-story building in partnership with Banquet LLC on December 28, 2021. Metaverse accounting and financial advisory services help them navigate the virtual financial landscape.
The opening of the Metaverse office reflects Prager Metis’ belief that the Metaverse will be the future and that technology will continue to influence the way the world operates. Glen FriedmanCEO of Prager Metis.
“Our new Metaverse headquarters will serve as a bridge between the traditional and the digital and provide the Metaverse with valuable real-world financial services. Our presence at Metaverse shows how serious we are about our vision for the future and our belief in this. Support that financial expertise and resources are urgently needed in an evolving digital world.
According to the firm’s press release, the first floor of the building features an open-plan design for displaying customers’ NFTs, while the second and third floors provide meeting rooms, conference facilities and rooftop space for live events.
PricewaterhouseCoopers (PwC) also acquired a piece of land inside The Sandbox in January.
Developed by game studio Pixaul and originally released in 2012, The Sandbox is a sandbox game for mobile phones and Microsoft Windows, which was eventually acquired by Animoca Brands in 2018.
Animoca has since used the name “Sandbox” for a new blockchain-based open-world game that sells NFTs that represent plots of virtual real estate, with over $2.5 million for project development. raises money.
PwC’s Hong Kong division did not explain at the time why the purchase was made, but comments by PwC’s crypto chief Henri Arslanian in July 2021 suggested indicated The firm can use its digital assets to reach out to and invest in small, but promising crypto startups.
A recent report by Citigroup showed that the metaverse economy could reach between $8 trillion and $13 trillion by 2030.
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