Latest In Metaverse, Web3, and NFTs

Hello, again, and welcome to the most recent edition of Latest in Metaverse, Web3, and NFTs. 

Let’s dive right in!

The Dubai Metaverse Strategy

Last Monday, the leaders of Dubai launched the Dubai Metaverse Strategy, a plan that aims to turn Dubai into one of the world's top 10 Metaverse economies, as well as a global hub for the Metaverse community. The strategy is said to attract more than 1,000 blockchain and metaverse companies to the most populated city of the UAE, as well as create and support more than 40,00 virtual jobs by the year 2030.

The creation of this strategy is expected to boost the UAE’s efforts to provide innovative solutions that will positively impact people’s lives and turn the city into one of the smartest hubs in the world.

Ethereum Merge

Ethereum, the second-largest crypto per market capitalization, is set to transition on September 19 from a proof-of-work to a more environmentally friendly proof-of-stake protocol. Experts are speculating that this Merge, as it’s being called, is driving a positive sentiment in the market… which, let’s be honest, hasn’t been looking that great these past months.

Ether (ETH) has gone up 45% this past week after the Ethereum developer, Tim Beiko announced the proposed date of the Merge.

Yuga Labs’ Warning

On 19 July, Yuga Labs, the team behind the well-known NFT project, Bored Ape Yacht Club, tweeted that their security team has been behind a persistent threat targeting the NFT community and that they believe will be soon launching a coordinated attack on different communities through compromised social media accounts. They exhort the community to remain vigilant and keep their accounts safe!