A metaverse is an area of the Internet that contains a shared virtual universe or shared reality. Everything is connected. A metaverse is a mix of Augmented Reality (AR), Virtual Reality (VR), and other social media. It's a place where avatars can interact, play, and work with one another. There are multiple metaverse project are live and running now. Do browse Cryptoknowmics to get the <a href="https://www.cryptoknowmics.com/news/metaverse" target="_blank" rel="noopener">latest metaverse news</a>.

The Bank of America&#8217;s metaverse trains staff on settling client debates or assists them with unwinding by riding a virtual unicorn. The Bank of America is blending a computer generated experience with metaverse and man-made reasoning to prepare new workers on all that from dealing with furious clients to bank burglaries. According to a report &hellip; 
<a href="https://www.cryptoknowmics.com/news/a-new-bank-robbery-in-the-metaverse/" class="more-link">Continue reading &#8220;A New Bank Robbery In The Metaverse, Trump&#8217;s NFT Business Prefers Crypto Over Cash, And More!&#8221;</a>

The Bank of America's metaverse trains staff on settling client debates or assists them with unwinding by riding a virtual unicorn. The Bank of America is blending a computer generated experience with metaverse and man-made reasoning to prepare new workers on all that from dealing with furious clients to bank burglaries. According to a report from <a href="https://www.bloomberg.com/news/articles/2023-07-13/bank-of-america-is-using-the-metaverse-ai-to-train-its-hires?srnd=technology-vp#xj4y7vzkg" target="_blank" rel="nofollow noopener">Bloomberg</a>, the bank's 2,000 new hires participate in a week-long training program that includes putting on a virtual reality (VR) headset to practice responding to a variety of simulated scenarios.The VR modules incorporate unremarkable circumstances like aiding a furious client or testing one which requests an enormous area of money, and outrageous ones, similar to an all out bank burglary. The novices can likewise relax in VR by riding a unicorn or sitting on an island. In addition, AI is used in the training, where new hires practice conversing with a bot posing as a customer and receiving assistance from another AI bot. Over 200,000 BoA employees worldwide currently have access to the virtual training. A coaching AI bot is also available in the bank's call centers to help with in-depth conversations with customers. Managers can also give the bots additional staff training.<h2>Banks train bankers in the metaverse as part of new business model</h2>[embed]https://twitter.com/BuschRo/status/1679554515496738821[/embed]Mike Wynn, the BoA's Academy's innovation and design executive, told Bloomberg that the training is beneficial because these scenarios are "hard to teach traditionally." Utilization of its metaverse is likewise being reflected for use at work fairs in a bid to captivate a more youthful crowd for an exciting profession in banking by having them practically experience the murmur drum of a bank partner. The <a href="https://www.cryptoknowmics.com/news/non-fungible-token-research-instrument-nft-inspect-is-shutting-down/" target="_blank" rel="noopener">non-fungible token</a> (NFT) licensing company owned by Donald Trump, the former president of the United States, appears to be choosing to hold its funds on Ethereum, as its most recent disclosures reveal that there is virtually no money in its bank account.Trump's update disclosures, which were made public on July 13 and filed with the Office of Government Ethics, provided additional information about his finances and business dealings, which is a legal requirement because he is running for president again. Trump disclosed in April that his NFT licensing deals earned him anywhere from $500,000 to $1 million. It is unclear why Trump updated his financial disclosures to be more specific, but Trump is legally required to file a "Personal Financial Disclosure" for his renewed presidential bid. This disclosure can be broad in nature. Trump-themed NFT collections have been released twice, the most recent of which sold out on its first day of release in April.<h2>Siemens building $560,000 tech grounds in Germany for the metaverse'</h2>German tech combination Siemens has focused on building a $560,000 (500 million euros) new tech grounds close to Nuremberg, Germany, however will show up first carefully in the metaverse. Siemens said it's burning through $1.1 billion (1 billion euros) speculation to make a "plan for the modern metaverse" in the country. A portion of that sum is going to the grounds fully intent on making it a centre point for what it calls the modern metaverse — a computerised entertainment of areas utilized for investigating and examination.The grounds will be fabricated only north of Nuremberg and before development starts the structures will be arranged out and reenacted in the metaverse, then duplicated into this present reality, as per Siemens. Before any ground is broken, the layout can be optimized and adjusted using the digital replica. The grounds will sit close to an existing plant that makes electronic parts. The subsidizing is important for the association's $2.2 billion (2 billion euro) money growth strategy declared last month which expects to assemble the organization new schooling places and provincial center points. Puma, a company that makes sports shoes, Legitimate, a company that makes NFTs, and Roc Nation, Jay-Z's entertainment agency, have collaborated on a sneaker collection that includes NFTs. The assortment named "The Development of the Mixtape" was delivered and included three shoe models called "Circle," "Tape" and "Playlist.<h2>NFT firm Neat Labs slashes workforce as part of broader corporate shakeup</h2>An NFC chip on the tongue of the left shoe can be tapped with a phone to access an exclusive portal with video content, a documentary, and previously unreleased music from Roc Nation artists. The shoes are estimated at $130 a couple and Genuine promotes their NFC labels that can be connected with a NFT that verifies the genuine item. This kind of "phygital" streetwear has proven to be popular; in June, the French luxury brand Dior released a new line of sneakers, one of which had a "digital twin," or NFT, attached to it. NFT firm Neat Labs had its third round of cutbacks in nine months on July 13 with 51 full-time staff and project workers let go, which was around 12% of the organization's staff. It reduced its workforce by 22% in November of last year and by 20% in February of 2023, respectively. An NFT collector talked about how they got a $35,000 decentralized finance (DeFi) loan by using a luxury Patek Phillipe watch as collateral. The watch was turned into an NFT that gave them ownership of the watch to make the deal secure.

A New Bank Robbery In The Metaverse, Trump's NFT Business Prefers Crypto Over Cash, And More!

Prices of virtual lands on some of the top metaverse have declined significantly from their peak prices of 2022, with most depreciating around 90% in value. Popular metaverse properties, such as Otherdeeds, The Sandbox, Decentraland, Somnium and Voxels, have all depreciated in value. Voxels&#8217; cash-strapped business misses despite Apple&#8217;s VR headset The cheapest land in &hellip; 
<a href="https://www.cryptoknowmics.com/news/massive-losses-are-suffered-by-top-metaverse-property-investments/" class="more-link">Continue reading &#8220;Massive Losses Are Suffered By Top Metaverse Property Investments&#8221;</a>

Prices of virtual lands on some of the <a href="https://www.cryptoknowmics.com/news/top-metaverse-coins-by-market-capitalization/" target="_blank" rel="noopener">top metaverse</a> have declined significantly from their peak prices of 2022, with most depreciating around 90% in value. Popular metaverse properties, such as Otherdeeds, The Sandbox, Decentraland, Somnium and Voxels, have all depreciated in value.<h2>Voxels' cash-strapped business misses despite Apple's VR headset</h2>[embed]https://twitter.com/udiWertheimer/status/1658205805743579146[/embed]The cheapest land in the metaverse could be found in <a href="https://www.coingecko.com/research/publications/metaverse-land-prices#:~:text=How%20much%20does%20metaverse%20land,with%20prices%20varying%20across%20projects." target="_blank" rel="nofollow noopener">Voxels</a>, which sells for 0.16 ETH. Voxels’ virtual properties faced a 93.8% loss, as did Somnium. Despite the massive drop in prices, Voxels remains optimistic about a comeback. Tech giants and major economies continue to test the ultimate potential of the metaverse through various investments and initiatives.eToro market analyst Josh Gilbert said the new headset could set the markets ablaze, considering Apple’s proven record of delivering high-quality, market-shifting products.

Massive Losses Are Suffered By Top Metaverse Property Investments

Yuga Labs, the creators of Bored Ape Yacht Club (BAYC), has won a crucial court case against Ryder Ripps, co-creator of RR/BAYC, a copycat NFT project. Yuga Labs at first recorded a grievance against Ryder Ripps and prime supporter Jeremy Cahen back, claiming that the team had participated in brand name encroachment, deliberate deception, and &hellip; 
<a href="https://www.cryptoknowmics.com/news/yuga-labs-wins-court-battle-mandala-metaverse-drops-on-polkadot/" class="more-link">Continue reading &#8220;Yuga Labs Wins Court Battle, Mandala Metaverse Drops On Polkadot&#8221;</a>

Yuga Labs, the creators of Bored Ape Yacht Club (BAYC), has won a crucial court case against Ryder Ripps, co-creator of RR/BAYC, a copycat NFT project. Yuga Labs at first recorded a grievance against Ryder Ripps and prime supporter Jeremy Cahen back, claiming that the team had participated in brand name encroachment, deliberate deception, and unreasonable rivalry, in addition to other things.<h2>BAYC sued Yuga Lab over their RR/BAYC NFT collection</h2>[embed]https://twitter.com/Polkadot/status/1649443200917032962[/embed]A U.S. district court in central California found that Ripps and Cahen had violated Yuga Lab's trademarks with their RR/BAYC NFT collection in a pre-trial summary judgment. The Court additionally decided that Yuga Labs is qualified for a directive and harms, the last option of which is not entirely set in stone at preliminary. The BAYC derivative NFT collection RR/BAYC was created by Ryder Ripps and Jeremy Cahen as a satire and protest against Yuga Labs. The venture basically utilizes all of a similar symbolism from the BAYC NFTsRipps specifically is behind a paranoid fear in which he charges that Yuga Labs deliberately planned the BAYC NFT artwork to convey bigoted personifications. Furthermore, Ripps likewise attests that the task's logo and marking have a few gestures to specific Nazi symbology and language.<h2>In Augmented Reality, Polkadot to host Mandala Metaverse</h2>The <a href="https://coinmarketcap.com/currencies/polkadot-new/">Polkadot</a> parachain Astar Network will host Mandala <a href="https://www.cryptoknowmics.com/news/the-metaverse-division-of-disney-has-been-scrapped/">Metaverse</a>, a forthcoming cross-chain augmented reality (AR) game. Mandala Metaverse is a project based on stories that include TV, graphic novels, gaming, augmented reality, and more. Epic Game's Triple-A-quality Unreal Engine was used to create its gaming elements. The drop is known as the "Cryptonauts" and the NFTs portray various symbols that will act as playable characters in the game.  The artwork was illustrated by comic artist Bruce Zick, who has worked on projects for giants such as Disney and Marvel.

Yuga Labs Wins Court Battle, Mandala Metaverse Drops On Polkadot

The Metaverse Division was created to find new ways to engage Disney’s audience. Entertainment giant Disney has pulled out of its metaverse division in which the company cut $5.5 billion in operating costs and laid off 7,000 staff. About 50 members of the Metaverse division will be laid off with no new employment contracts except for Michael White, who led the broader consumer products unit. It is believed that the division of the metaverse was made in an effort to find new ways for Disney audiences to engage with its stories. Disney also filed a patent for a “virtual-world simulator”

The Metaverse Division was created to find new ways to engage <a href="https://www.cryptoknowmics.com/news/disney-looking-to-hire-nft-experts-as-as-digital-collectibles-boom/" target="_blank" rel="noopener">Disney’s</a> audience. Entertainment giant Disney has pulled out of its metaverse division in which the company cut $5.5 billion in operating costs and laid off 7,000 staff. About 50 members of the Metaverse division will be laid off with no new employment contracts except for Michael White, who led the broader consumer products unit. It is believed that the division of the metaverse was made in an effort to find new ways for Disney audiences to engage with its stories. Disney also filed a patent for a “virtual-world simulator” with the intention of making it easier to use headset-free augmented reality (AR) attractions at Disney theme parks.<h2>Streaming firm Cements plans to cut costs as it ponders sports betting</h2>The firm also once considered how it could integrate metaverse technology into <a href="https://www.cryptoknowmics.com/news/tips-and-tricks-for-cricket-betting/" target="_blank" rel="noopener">sports betting</a>. However, no significant progress has been made. After consultation with McKinsey &amp; Company to identify cost-cutting opportunities, the company made the decision to reduce staffing and operating expenses. The main factors that led to the decision were unfavorable economic conditions and increased competition in the streaming sector.Both Disney’s former and current chief executives, Bob Chapek and Robert Iger once considered the Metaverse to be a very bullish investment opportunity. Chapek has referred to the Metaverse as "the next great storytelling frontier.

Metaverse

A New Bank Robbery In The Metaverse, Trump's NFT Business Prefers Crypto Over Ca ...

Massive Losses Are Suffered By Top Metaverse Property Investments

Yuga Labs Wins Court Battle, Mandala Metaverse Drops On Polkadot

The Metaverse Division Of Disney Has Been Scrapped