Facebook announces $50M investment fund tasked with developing its virtual me...
Facebook has slated $50 million to be spent over the next two years through its XR Programs and Research fund. Facebook has announced it will allocate $50 million to a two-year fund tasked with beginning work on realizing the firm’s vision for a virtual metaverse. A Sept. 27 announcement articulates Facebook’s roadmap for building its metaverse, with the funding slated to back “global research and program partners” looking to build out the platform in addition to internal research.The metaverse won’t be built overnight by a single company. We’ll collaborate with policymakers, experts and....
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A few years ago the virtual world Second Life, created by Philip Rosedale and his team at Linden Lab, was a media darling that made headlines every day. One of the most widely covered aspects of Second Life was its in-world economy based on a virtual currency, the Linden dollar. Thousands of Second Life developers were able to earn a living, and in some cases become rich, by selling virtual objects (avatars, clothing, gadgets) and virtual land for Linden dollars. Second Life has fallen from media grace, but other virtual worlds and virtual reality massively multiuser videogames are....
Starting in the year 2022, donated or inherited virtual assets will be assessed and taxed accordingly, South Korea’s National Tax Service has said. Dunamu, Bithumb Korea, Korbit, and Coinone are the new virtual asset service providers (VASPs) tasked with evaluating digital assets for such tax purposes.
Virtual Asset Service Providers Tasked With Evaluating Crypto Gifts
South Korea’s National Tax Service (NTS) recently announced that starting in 2022, digital assets that are inherited or donated will be taxed, a report has said. It added that such digital assets....
Companies have an interest in virtual currencies for many reasons. It develops a store of value inside of an ecosystem; it ensures that goods will be purchased inside of their own worlds. Generally speaking, it keeps more value inside their own fiefdom once a virtual currency has been exchanged for cash money. In the end, it appears to be a major value proposition. This is especially true for technology companies that do most of their business in the digital realm. With that being said, the recent history of corporate-backed virtual currencies is spotty at best. Let's take a look at some....
Gemini is providing custody services to the first Bitcoin fund issued by a Brazilian investment bank. Gemini, the U.S.-based crypto exchange and custodian founded by Tyler and Cameron Winklevoss, has announced it will provide custody services for the forthcoming Bitcoin fund from Brazil’s top investment bank, BTG Pactual.An April 5 announcement indicates Gemini’s subsidiaries Gemini Custody and Gemini Fund Solutions will provide customized services for the fund. The post also notes a philosophical alignment between the two firms.Approved last month, BTG Pactual’s Bitcoin 20 Multi-Market....
This is sure turning out to be a good week in bitcoin investments! Just announced this morning is the news that Bitcoin Shop, Inc. has strategically invested $1.5 million (Series A) in GoCoin, a leading payment processor in the digital currency sector. Bitcoin Shop operates as a virtual currency marketplace, and the investment comes from the company's CEO Charles Allen, COO (and Chairman) Michal Handerhan, former Facebook COO Owen Van Natta, Crypto Currency Partners, and others. "Bitcoin Shop is an ecommerce platform that delivers a seamless digital currency shopping experience for its....