Meta ‘powering through’ metaverse plans: Nifty Newsletter, Nov. 30–Dec. 6
In this week’s newsletter, read about how the word “metaverse” placed second in Oxford’s Word of the Year. Check out how Meta is pushing forward its metaverse plans amid doubts and how the nonfungible token (NFT) marketplace Magic Eden announced a tool to enforce royalties. In other news, find out how the Opera Crypto Browser is integrating NFT minting. And, don’t forget this week’s Nifty News featuring a new all-time high for Reddit avatar minting.
The term “metaverse” have gotten second place in Oxford University’s Word of the Year 2022, coming after “goblin mode,” which depicted the mood of people who did not like the idea of coming back to normal life after the pandemic lockdowns.
According to Oxford’s data, the use of the word metaverse increased by four times in 2022, mostly due to Facebook’s rebrand to Meta in October 2021. Oxford highlighted that the word gained traction because of the crypto community.
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Mark Zuckerberg, the CEO of Meta, remains hopeful when it comes to the company's metaverse project, even though it costs the company billions of dollars. In an interview at the DealBook Summit, the Meta CEO highlighted that things will look different in a ten-year time horizon compared to just a few years coming ahead.
Zuckerberg believes that communicating in the 2030s will be vastly different from the way people communicate now. The Meta CEO highlighted that “someone has to build” and invest in it.
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Solana-based NFT marketplace Magic Eden has announced that it will be allowing creators to enforce royalties on their collections. This follows OpenSea's announcement of a similar tool back in November.
Jack Lu, the CEO of Magic Eden, previously floated the idea of enforcing royalties
Read more on cointelegraph.com
