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After the Metaverse concept failed in 2022, AI took over the spot to become the ‘next big thing’ in technology. Multinational corporations spent billions to build the Metaverse, only to see their projects fail remarkably. Mark Zuckerberg had to fire 11,000 employees after spending more than $10 billion on the failed Metaverse project. Now Artificial Intelligence (AI) is following a similar path, as only 25% of all AI initiatives have generated profits, while 75% of all projects have delivered losses on investments. Also Read: Top Crypto to Buy Now as Ripple Eyes Circle Acquisition The latest report from IBM highlights that just 25% of all AI initiatives have delivered profits as return on investment (ROI). In the report, IBM surveyed around 2,000 CEOs during the first quarter of 2025. According to the majority of the CEOs, the return on investment in AI technology has been disappointing. Billions of dollars are being spent to develop the technology with little to no profits ...

Immersive Web3 gaming platform Upland has announced an extension of its collaboration with the NFL Players Association (NFLPA) for the fourth season. The collaboration, which also includes OneTeam Partners (OneTeam), will focus on creating new avenues of engagement and rewards to the existing ones for the upcoming NFL season, Upland said in a press release shared with Finbold on September 13. “We’re thrilled to continue our partnership with the NFLPA and OneTeam for the 4th year in a row.<..> Being named NFLPA’s Licensee of the Year in 2022 was a significant achievement, and it inspires us to keep innovating in this coming season,”,” said Idan Zuckerman, Co-Founder of Upland. Picks for you OpenAI’s o1 predicts Bitcoin (BTC) price for the end of 2024 2 hours ago ...

Beijing is seeking a way to put regulatory burden on the yet-to-be-developed next internet iteration. China is set to form a working group to develop standards for the metaverse as the country sees a big future for the technology. According to a report by Reuters, China’s Ministry of Industry and Information Technology (MIIT) has released a draft proposal to establish a working group for the metaverse, putting the technology among emerging tech sectors vital for China. The MIIT claims the metaverse still “faces many challenges,” so the government should keep “healthy and orderly development of the metaverse industry through standardization and guidance.” Although the ministry admitted that the metaverse represents “an integrated innovation combining various cutting-edge technologies,” it also pointed out the concept of virtual reality still suffers from a lack of clear definitions, allowing capitalists and companies to speculate in th...

Puma launches Black Station, a 3D metaverse experience allowing Puma Pass NFT holders access to exclusive products. In this week’s newsletter, read about footwear giant Puma’s new metaverse experience for Puma Pass nonfungible token (NFT) holders. Check out Meta CEO Mark Zuckerberg’s comments on the new Apple Vision Pro headset, and how NFT platform Enjin has launched a new blockchain. In other news, GameStop terminated the executive responsible for its NFT push, and don’t forget this week’s Nifty News, featuring Kraken’s NFT marketplace and Coinbase’s Stand With Crypto NFTs. Footwear conglomerate Puma launches 3D Web3 experience Footwear company Puma has launch ed a 3D metaverse experience called Black Station. According to its creators, it’s an experiment to provide Puma Pass NFT holders access to various product drops. Despite this, the company highlighted that the experience is open to everybody, but those with special tokens airdropped to Puma Pass holders will have perks like...

Author Neal Stephenson said that many Web3 problems come from projects wanting to financialize everything very quickly. Bestselling author Neal Stephenson spoke with Cointelegraph at the Paris Blockchain Week 2023, discussing various topics, including problems within the current Web3 ecosystem and the metaverse — a term Stephenson coined in his 1992 book titled Snow Crash.  According to Stephenson, many of the current problems within the space come from people wanting to "financialize everything too fast." Stephenson pointed out that many see the goal of getting lots of money and are eager to get to it. This leads to skipping over important steps that are necessary. The writer explained that:  “You know, financial institutions emerged slowly over time out of existing markets, and businesses that were functional, and they were making money for people. And then, over time, people constructed banks and stock markets and so on.” According to the author, this approach skips a ve...