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US Metaverse News

Bank of America is reportedly using the technologies of the <a href="https://upyo.com/en/news/metaverse" target="_blank" rel="noreferrer noopener">metaverse</a> and AI in its staff onboarding process.



According to a report by Bloomberg, Bank of America used AI technology with more than 200,000 employees, including new and old staff. Bank of America&#8217;s move aims to create a simulation for specific situations in the virtual world, such as handling possible security threats and responding to customer complaints.



The bank equipped its staff with virtual reality gadgets to stimulate these situations using metaverse and AI.



In this regard, Head of The Academy at Bank of America John Jordan said: &#8220;These simulations act like practice reps. It makes a new employee experienced, even if they’re brand new.&#8221;



Meanwhile, Mike Wynn, an executive at Bank of America, lauded the idea, saying the process lets the staff know the appropriate responses in the simulated situations in virtual reality.



Also, Chairman and CEO of Bank of America Brian Moynihan admitted the captivating uses of AI and <a href="https://upyo.com/en/news/tags/us-metaverse">metaverse technologies in US</a>, however, he asserted the importance of proper understanding of the technology.



Bank of America is one of the organizations which adopted the use of metaverse and AI technologies in their operations.



In October, INTERPOL unveiled the first-ever Metaverse specifically designed for law enforcement worldwide. The INTERPOL Metaverse allows registered users to tour a virtual facsimile of the INTERPOL General Secretariat headquarters in Lyon without any geographical or physical boundaries, interact with other officers via their avatars, and even take immersive training courses in forensic investigation and other policing capabilities.



Also, its Secretary-General Jurgen Stock said the global police body is discussing how to probe a crime occurring in the metaverse.

Bank of America

Metaverse

Bank of America Uses Metaverse, AI in Hiring New Employees

Famous American fashion brands head for the metaverse to celebrate the 60th anniversary of the Council of Fashion Designers of America (CFDA).



CFDA will launch its first-its-kind digital exhibition in the virtual space in The Sandbox metaverse, a leading decentralized metaverse and a subsidiary of Animoca Brands, <a href="https://dailycoin.com/cfda-makes-web-3-0-debut-celebrates-60th-anniversary-in-the-sandbox/" target="_blank" rel="noreferrer noopener">according to Daily Coin</a>.



Titled “Fashioning the Shades of American Design,” CFDA&#8217;s virtual exhibition will feature 60 American fashion looks from the past 60 years, selected by fashion historian and Cleveland Museum of Art assistant curator of fashion Darnell-Jamal Lisby. It will take place on December 19.



The American fashion association collaborated with seven fashion brands to mint seven 1/1 NFTs. These brands are Tommy Hilfiger, Michael Kors, Carolina Herrera, Willy Chavarria, Vivienne Tam, and von Furstenberg. The NFT collection, titled &#8220;Lighting the Path of American Fashion will be released on December 12.



The NFTs, whose bids start from $25,000 for auction, vary between shirts, gowns, dresses, and suits.



In this regard, CEO of the CFDA Steven Kolb said the association is keen on educating and empowering the business community centered around the influence of American fashion through working with The Sandbox and Polygon Studios.



Meanwhile, Co-Founder and COO of The Sandbox Arthur Madrid shared, “The CFDA is the foremost authority in American Fashion, and we are honored to be partnering with them on their foray into the metaverse. We believe the metaverse is the new frontier of expression, where avatars will be an extension of our digital identity. We are excited to offer new creative tools for fashion designers to create NFT collections with digital ownership and scarcity that will be playable in the metaverse!&#8221;



Meantime, CEO of Polygon Studios Ryan highlighted the CFDA&#8217;s transition to the virtual space to take a step toward the future of American fashion and culture, expressing his pride that Polygon take part in this transition.



CFDA attempts to make use of the event by attracting the coming generation of fashion enthusiasts to the metaverse to expand the fashion trend to the digital world.

CFDA NFTs

American Fashion Brands Join Metaverse, Launch NFTs This Month

Companies based in the United States and South Korea filed more than 75% of the global patents related to the metaverse, augmented reality (AR), and virtual reality (VR).



<a href="https://asia.nikkei.com/Business/Technology/LG-Samsung-Huawei-build-trove-of-metaverse-patents-survey" target="_blank" rel="noreferrer noopener">In a joint survey</a>, Nikkei Asia and research firm Cyber Creative Institute listed the top 20 metaverse patent applicants in the world, calculating 7,760 applications filed in markets like Japan, the US, and Europe since 2016.



The companies based in the US accounted for 57% of the applicants, while South Korea came in second place with 19%. The Chinese companies in the survey came third with 12%, followed by Japanese companies at 8%.



US-based tech giants like Meta, Microsoft, Intel, and Apple are included in the list of the top 20 metaverse patent applicants.



LG Electronics, representing South Korea, came in the first place because it filed the most metaverse patent applications since 2016, jumping from 11th for the survey of 2010-2015. While its rival Samsung came in second place. Earlier this year, LG Electronics and Samsung started to incorporate NFTs into their TVs. LG decided to launch its NFT marketplace called LG Art Lab.



Meta, which came in third place, Microsoft, in fifth place, in addition to Apple and Intel were among the top 10 metaverse applicants in the survey. China&#8217;s Huwaei entered the survey for the first time, coming in fourth place, while Sony of Japan came in sixth place.



A metaverse is a network of three-dimensional virtual environments focusing on social interaction. It may be characterized as a digitally simulated world. It utilizes blockchain, augmented reality, and virtual reality (VR), combined with social media principles, to develop venues for extensive user communication that imitate the real world.



The metaverse is an encompassing word for technologies that aid in creating a whole digital world similar to the real one. This universe can be incredibly comprehensive and encompass a broad range of various planets, sometimes referred to as virtual environments.

US, South Korea-Based Companies Represents over 75% of World’s Metaverse Patents

Morehouse College in the United States is the first university to offer classes in the metaverse, a historical and distinguished step toward the latest technology worldwide.&nbsp;



Students, who are interested in the virtual space, will get their lectures into their classrooms by putting on headsets, Afrotech reported. They can also enjoy the past using the college’s metaverse program.&nbsp;



According to the college, students will experience unlimited levels of academic and social engagement.&nbsp;



<figure class="wp-block-image size-full is-resized"><img decoding="async" loading="lazy" src="http://adminblog.upyo.io/wp-content/uploads/2022/11/Students-in-Morehouses-University.jpg" alt="Students in Morehouse's University" class="wp-image-2481" width="726" height="408" srcset="https://3.111.63.208/wp-content/uploads/2022/11/Students-in-Morehouses-University.jpg 1024w, https://3.111.63.208/wp-content/uploads/2022/11/Students-in-Morehouses-University-300x169.jpg 300w, https://3.111.63.208/wp-content/uploads/2022/11/Students-in-Morehouses-University-768x432.jpg 768w" sizes="(max-width: 726px) 100vw, 726px" /><figcaption class="wp-element-caption">Students in Morehouse&#8217;s University</figcaption></figure>



Director of the Virtual Reality Project at Morehouse College Muhsinah Morris described the metaverse as the world’s largest playground, where several activities could be done, adding: &#8220;It is the next iteration of the web.&#8221;&nbsp;



Morris compared the difference between getting information from books and experiencing what is happening in real-time or the past in the metaverse.&nbsp;



&#8220;They can create. They can produce. They can market. They can create social events. They can create a place of belonging in the community,&#8221; Morris said.&nbsp;



Chair of Africana Studies and History Department at the historically black school Monique Earl Lewis said the university&#8217;s metaverse will have a role in showcasing the Blacks&#8217; contributions to the American fabric.&nbsp;



<figure class="wp-block-image size-full is-resized"><img decoding="async" loading="lazy" src="https://adminblog.upyo.io/wp-content/uploads/2022/11/Morehouse-College-Metaverse.png" alt="" class="wp-image-2482" width="712" height="456" srcset="https://3.111.63.208/wp-content/uploads/2022/11/Morehouse-College-Metaverse.png 1024w, https://3.111.63.208/wp-content/uploads/2022/11/Morehouse-College-Metaverse-300x192.png 300w, https://3.111.63.208/wp-content/uploads/2022/11/Morehouse-College-Metaverse-768x492.png 768w" sizes="(max-width: 712px) 100vw, 712px" /></figure>



Students of the Atlanta-based institution lauded the university&#8217;s move to the metaverse, saying it is a whole new experience, looking forward to experiencing everything directly.&nbsp;



In light of expectations that the metaverse industry would be worth $1 trillion by 2030, Morehouse College seeks to take advantage of the opportunities existing in this captivating technology.&nbsp;



According to a report released by Pew Research Center, 54% of technology experts believe the metaverse will be a regular part of daily life for half a billion people.



A metaverse is a network of three-dimensional virtual environments focusing on social interaction. It may be characterized as a digitally simulated world. It utilizes blockchain, augmented reality, and virtual reality (VR), combined with social media principles, to develop venues for extensive user communication that imitate the real world.

Morehouse in The Metaverse

Morehouse College Becomes 1st University to Offer Classes in Metaverse

The metaverse and non-fungible tokens (NFTs) did not become limited to celebrities, stores, or government bodies, they also include food trademarks.



This is already happening when a number of food companies rushed to book seats in the Web 3.0 ecosystem by filing their trademark applications to be in the metaverse and as NFTs.



Kraft Foods Group applied to trademark its iconic hot-dog-shaped Wienermobile last week. The filing application showed the company&#8217;s intention to expand into NFTs, NFT marketplaces, digital tokens, virtual goods, food, drink, and restaurants, according to Licensed trademark attorney Mike Kondoudis.



The application also revealed that Kraft Foods plans to establish its virtual restaurant in the metaverse, featuring virtual goods to be delivered in the real and virtual worlds.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Kraft has applied to trademark the iconic Weinermobile! The October 12 filing claims plans for: 🌭NFTs + Digital Tokens 🌭NFT Marketplaces 🌭Virtual Foods + Drinks + Restaurants 🌭Online Stores for NFTs + Virtual Goods<a href="https://twitter.com/hashtag/NFT?src=hash&amp;ref_src=twsrc%5Etfw">#NFT</a> <a href="https://twitter.com/hashtag/NFTs?src=hash&amp;ref_src=twsrc%5Etfw">#NFTs</a> <a href="https://twitter.com/hashtag/Metaverse?src=hash&amp;ref_src=twsrc%5Etfw">#Metaverse</a> <a href="https://twitter.com/hashtag/Web3?src=hash&amp;ref_src=twsrc%5Etfw">#Web3</a> <a href="https://twitter.com/hashtag/Oscarmayer?src=hash&amp;ref_src=twsrc%5Etfw">#Oscarmayer</a> <a href="https://twitter.com/hashtag/Wienermobile?src=hash&amp;ref_src=twsrc%5Etfw">#Wienermobile</a> <a href="https://t.co/u5At9xxMIw">pic.twitter.com/u5At9xxMIw</a>&mdash; Mike Kondoudis (@KondoudisLaw) <a href="https://twitter.com/KondoudisLaw/status/1581975052488437760?ref_src=twsrc%5Etfw">October 17, 2022</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Earlier this month, In-N-Out Burger, the American regional chain of fast food restaurants, filed a similar trademark application to open an online retail store, which is supposed to sell virtual goods, including food, beverages, and merchandise linked with the brand to be used in the virtual world.



The trademark application mentioned that In-N-Out Burger plans to offer, &#8220;temporary use of online non-downloadable software for users to access, transmit, exchange and establish ownership of virtual goods, blockchain tokens, nonfungible tokens, digital media, digital files, and digital assets in the field of food, beverages, restaurants, and merchandise.&#8221;



Moreover, Del Monte Foods submitted eight trademark applications for its main brands; DEL MONTE and The Del Monte Shield to create NFTs, NFT-backed media, and virtual marketplaces, restaurants, stores, foods, and drinks.



The food company plans to set up software for managing, verifying, storing, and authenticating digital currency, crypto-collectibles, digital tokens and files, and virtual goods and services.



It is worth mentioning that in 2022, more than 5,800 trademark applications have been filed with the United States Patent and Trademark Office, for NFTs, while the number of submitted apps for NFTs was only 2,087 in 2021.



Also, over 3,600 trademark applications for cryptocurrencies and crypto-related services were filed with USPTO as of August 31.

US Metaverse News

Latest US Metaverse News