Yuga Labs layoffs coincide with EU’s optimism on metaverse health, while blockchain integration and digital collectibles partnerships gain traction.
Nonfungible token (NFT) firm Yuga Labs has cast off employees, and the European Union believes the metaverse can improve the health of children, according to this week’s newsletter.
Examine the viewpoints of industry experts regarding integrating blockchain technology into metaverses and examine the 360-degree treadmill showcased by tech YouTuber Marques Brownlee at Disney. Additionally, Manchester City has announced the formation of a new digital collectibles development partnership.
“Lost” Yuga Labs restructures again, with layoffs
CEO Greg Solano of Yuga Labs declared on X that the NFT company is reorganizing and will terminate personnel. Solano emphasized to the personnel that complex organizational procedures obscured the organization’s innovative drive.
The executive stated that the company’s excessive planning had delegated distribution to committees and groups. Nonetheless, the CEO of Yuga stated that he had a strategy and disclosed specific steps for reorganization.
In a letter, an EU government think tank outlined the challenges and opportunities that children will encounter in the metaverse.
According to a policy analyst from the European Parliamentary Research Service (EPRS), Maria Niestadt, the metaverse can enhance children’s creativity and facilitate their recovery from illnesses.
According to the EPRS, virtual world technology can be used to diagnose and treat mental and physical health disorders. Additionally, the think tank stated that immersive exercises could be implemented to promote physical health using the technology.
While enthusiasm for the metaverse may not be as intense as in 2021, industry experts remain optimistic about its future potential.
Clement Chia, co-founder of Imaginary Ones, stated that the metaverse offers significant brand opportunities to incorporate physical products into a virtual environment. The executive noted that blockchain technology provides the metaverse with limitless possibilities.
Landvault, meanwhile, saw numerous metaverse applications in the tourism, real estate, and sports industries, according to CEO Samuel Huber.
