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10 Months ago
Egyptian Actor Ahmed El Sakka Releases 1st NFT Collection on UPYO

Well-Known Egyptian actor Ahmed El Sakka became the first Egyptian and Arab actor who released his first NFT collection exclusively on UPYO, marking his first presence in the Web3 world.

The NFT collection will be released on the UPYO NFT marketplace, the largest of its kind in the Middle East, in cooperation with Arab Utopia Institution in a move to document Egyptian and Arab art with the latest technologies like metaverse and NFTs.

Named Al-Fares, the NFT collection consists of 5,555 digital collectibles, which are divided into four tiers (Bronze, Silver, Gold, and Diamond).

The NFT tickets work as a membership card for Sakka’s virtual world and grant access to exclusive features, which include, meeting Sakka virtually and in real life, experiencing interactive comics and games with the consumers’ avatars, and attending movie premieres.

Sakka’s first NFT collection comes within a framework of his keenness to document Egyptian and Arab art with the latest technologies like metaverse and NFTs.

Through this partnership, Sakka will attempt to document his art career through several activities in the virtual space, topped by releasing his first NFT collection, which was released on Tuesday.

The Egyptian actor will release more than five Arab action virtual games in which his cinematic characters will be shown, in addition to a virtual museum that will include his history in cinema and television, his personal belongings, and interviews in addition to belongings that appeared in his movies and series. His fans will be able to take part in his virtual games with their avatars to play with him in the metaverse.

In this regard, Sakka expressed his enthusiasm to join the Web3 world, looking forward that his fans would actively participate in the virtual games with him.

The move aims to document and turn Sakka’s long art history, which started in the 90s, into digital art. Through all these activities, El Gezira star will be the first Egyptian and Arab actor to join the metaverse and NFT worlds.

To mint an NFT or more of Al-Fares collection: https://upyo.com/en/nft/collection/al-fares/drop

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1 Days ago
Reddit Invests in BTC, ETH Since 2022
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Social media giant Reddit has been investing some of its surplus cash in Bitcoin (BTC) and Ethereum (ETH) since 2022.

In a recent filing with the United States Securities and Exchange Commission, Reddit stated that it believes crypto and blockchain have significant potential. As of December 31, 2023, Bitcoin and Ethereum were the only cryptocurrencies in Reddit’s treasury.

However, the amounts held are considered immaterial. While experimenting with blockchain technology, Reddit has been buying Ether and Polygon (MATIC) as a form of payment for certain virtual goods’ sales.

The recent S-1 registration filed by Reddit reveals that the company received Ether and Polygon cryptocurrencies, which it deemed to be “not material” across 2022 and 2023. However, Reddit may consider using these cryptocurrencies as a payment method in the future.

In addition, Reddit’s product and engineering team holds cryptocurrencies for specific purposes, but the company did not specify which ones or the amount. Reddit also believes that blockchain-related technologies have significant potential, but it is uncertain whether consumers and businesses will continue to adopt cryptocurrencies and blockchain technology in the long term.

According to the S-1 registration, Reddit recorded $90.8 million in net losses in 2023, but its revenue increased by 20.6% to $804 million year-on-year. After its funding round in 2021, Reddit was valued at $10 billion, but a Bloomberg report from January 28 suggests that it may now only be worth half of that.

Finally, in October, Reddit shut down its blockchain-based rewards service, “Community Points,” which rewarded users with points for positive engagement in certain subreddits, citing scalability concerns as the primary reason for the shutdown.

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Hack VC
2 Days ago
VC Hack Raises $150 Mln for Web3 Innovation
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Hack VC, a venture capital firm focused on Web3, has successfully closed its first fund at $150 million.

This is an expansion of its earlier $200 million seed round, which brings the total amount raised by Hack VC to $350 million. The founders of the firm have been investing in cryptocurrency since 2014.

Although this is the first time Hack VC is announcing its fund, it has already made significant investments in early-stage Web3 infrastructure, protocols, next-gen DeFi, and tokenization of real-world assets. According to a website announcement, the firm now has total assets under control of $425 million.

The company’s main objective is to support the hackers creating the internet’s future as soon as possible. To achieve this goal, the company has developed a full-stack platform that helps founders reach a wider audience and bring their products to market.

To evaluate the various protocols and products in which it invests, the company has assembled a team of professionals, including researchers, quant traders, and engineers. In addition to establishing a partner network that works closely with selected projects, it also organizes summits and workshops for incubated businesses.

Hack is investing in the convergence of Web3 and AI, as it believes it is an area with great potential. The company recently announced plans to invest in “generative AI infrastructure that can power new types of decentralized experiences” and “blockchain infrastructure that can support generative AI applications,” according to a blog post.

Hack has previously invested in generative AI copilot Jasper AI and AI coprocessor Ritual, both of which are designed for use with blockchain technology. With its new fund, the company is demonstrating its continued belief in Web3 technology despite the sector’s ups and downs over the past two years.

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Mumbai in Metaverse
3 Days ago
Mumbai Introduces Metaverse To Showcase Infrastructure Developments
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Mumbai, the financial capital of India, has launched an exciting new initiative called the Mumbai Metropolis Metaverse.

The project aims to preview and showcase the city’s infrastructure developments through 3D and virtual reality experiences. The Mumbai Metropolis Metaverse is designed to offer a virtual tour of the city’s infrastructural advancements.

This includes newly opened roads that span the Arabian Sea, which will alleviate traffic congestion, enhance connectivity, and promote cleaner air. The project is also set to offer underground and undersea tunnels that will facilitate intra-city travel. This initiative will allow people to explore and experience the city’s ongoing and future projects in and around one of India’s most populous cities. It is a significant step towards making Mumbai’s infrastructure more accessible and promoting its advancements to a broader audience.

Deputy Chief Minister of Maharashtra, Devendra Fadnavis, introduced the metaverse project. The project is available through its website and downloadable Google and Apple app stores apps. It aims to invite global users to explore Mumbai’s transformation and allow residents to virtually track the progress of significant megaprojects that affect their daily lives. Fadnavis aims to elevate Mumbai’s transport efficiency beyond that of cities like Bengaluru, Delhi, and Chennai over the next five years. He wished to enable city-wide travel within 60 minutes.

The metaverse app introduced by Mumbai aims to present these advancements to its users engagingly and interactively. The metaverse will spotlight 12 key projects, including the Mumbai-Ahmedabad Bullet Train Corridor and the Mumbai Metro. This signifies a pivotal shift towards redefining Mumbai’s urban landscape.

India is no stranger to the metaverse landscape, with private sector innovations pushing the boundaries of virtual engagement. Maruti Suzuki India Limited has unveiled ArenaVerse, a metaverse platform designed for its Arena showroom network. This platform allows users to interact with Maruti Suzuki vehicles in a virtual environment, offering a more dynamic and immersive customer experience.

Additionally, Taki, a Web3 token-powered social platform, has entered its beta phase. The platform promises to reward content creators and users for their engagement with the platform through $TAKI tokens.

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4 Days ago
Forbes Announces Its Presence on Metaverse
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Forbes, a business magazine founded in 1917, has created a permanent and distinguished online presence on the Sandbox Metaverse.

The new Forbes experience is now available to the public within the virtual world, located to the west of “Dracula’s Castle” and a few plots north of “HODL Island.”

According to a press release by Forbes, visitors to the virtual world will be immersed in a space that pays attention to details. The crafted space has a luxurious pool, an elegant bar, and a comprehensive gallery celebrating the 2024 Under 30 recipients. Every design element has been thoughtfully curated to provide an engaging and visually stimulating environment that encourages exploration and interaction.

In addition, visitors can also participate in a scavenger hunt to uncover exclusive content by scanning QR codes that are sprinkled throughout the experience.

The Sandbox recently unlocked $90 million worth of vested asset tokens, totaling 209 million tokens. These funds were allocated for reserves, teams, and advisers. This release comes simultaneously as several others from Avalanche, Aptos, Optimism, and Sui, which add up to a total of $900 million.

As Sandbox enters a more competitive space, big tech companies such as Meta and Apple compete for the top spot in metaverse hardware. Meanwhile, companies like Surreal Events and Somnium Space have expanded on the ideas that were originally conceived in pre-metaverse apps like Second Life and the MOO/MUX/MUSH servers of the past.

Today, metaverse real estate has become increasingly attractive to corporations and brands, with even the likes of the Atlanta Braves, Ford Motor Company, and Forbes taking up space in Web3’s digital worlds.

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