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Once a key player in the metaverse realm, Roblox anticipates a challenging 2024 as its investors voice concerns regarding the company’s ability to achieve sustainable profitability. Roblox, previously touted as a metaverse hub within the gaming platform space, is gearing up for a tough year ahead as its financial health continues to deteriorate, as per Sahil Alvi, the founder of Neuron Partners, an early backer of Roblox. In an interview with Fortune, Alvi did not hide his frustrations, noting that Roblox’s shares are still far from its IPO price achieved in Q1 2021. “We’ve been watching the stock languish for the better part of two years. It doesn’t seem the leadership team has gotten the memo that times have changed and markets no longer reward growth for growth’s sake.” Sahil Alvi You might also like: ‘Metaverse technology is still immature, but in 30 years, everyone will use it’ While Alvi did not detail his firm’s st...

Hoping to reignite interest in the virtual world, The Sandbox metaverse is launching a new virtual neighborhood called Cinerama. With Cinerama, users can sign up to buy and turn their digital properties into opportunities to collaborate, share ideas, and transform movies into immersive, interactive entertainment. There are over 400 digital land plots available in Cinerama. In total, the platform has sold 70% of over 165,000 LAND NFTs. LIGHTS, CAMERA, ACTION! The CINERAMA LAND Sale! The perfect place to build your own cinematic dreamworld. Raffle Sign Up OPEN https://t.co/UvVPNkfgIs pic.twitter.com/aF6M3vtlCw — The Sandbox (@TheSandboxGame) November 9, 2023 The new area will host famous American films, including The Walking Dead, Black Mirror, Peaky Blinders, and Cheech and Chong. The Sandbox also partners with production companies such as Skydance, producers of Top Gun and Terminator, and Lionsgate. You might also like: Paris Hilton taps the Sandbox for Parislan...

The restaurant was being built alongside a private members lounge that was only open to people who bought NFTs, but rising construction costs ultimately stopped the project from coming to fruition. Bold plans for a non-fungible token linked restaurant and private members lounge in San Francisco have come to an abrupt end, after the company behind the project halted construction due to challenging macroeconomic factors. The two venues were being built on Salesforce Park, and were going to be dubbed the “Sho Restaurant” and “Sho Club Sky Lounge.” The latter was only going to be accessible to holders of the Sho Club NFTs, which cost anywhere from $7,500 to $300,000, and offered access to other future Sho Group hospitality offerings. Speaking with San Francisco-focused news website SFGATE on Sept. 7, Sho Group CEO Joshua Sigel stated that it was no longer possible to build the project, and confirmed that the company ended its lease agreement in July. Early rendition of the restaurant an...

Dubai gets two physical NFT shops where visitors can utilize various tools to bring their art into the real world.   Source: https://thebittimes.com/turning-collections-into-merchandise-at-physical-stores-tbt36752.html?utm_source=blogger_source&utm_medium=blogger_medium&utm_campaign=blogger_cam Category: NFT News Post by: TheBitTimes.com

Kieran Warwick, co-founder of blockchain role-playing game Illuvium believes Yuga Labs latest hire will be a boon for GameFi. The appointment of one of Activision Blizzard's highest-ranking executives to a leadership position at Bored Ape Yacht Club (BAYC) parent Yuga Labs has been seen as a boon for its metaverse efforts and another sign of validation of the crypto industry. On Dec. 19, Yuga Labs confirmed it has appointed Daniel Alegre, the current president and chief operating officer of Activision Blizzard as its new CEO, who will take the helm of the company in the first half of 2023, succeeding the current CEO Nicole Muniz.  Activision Blizzard, a gaming giant with a market cap of around $60 billion, according to Yahoo Finance, is responsible for popular gaming franchises such as Call of Duty, World of Warcraft, Diablo and Overwatch. Alegre has held the role since 2020. Kieran Warwick, co-founder of Blockchain role-playing game Illuvium said in a Dec. 19 post that Yuga Lab...