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MLB Seeks to Hit a Home Run in the Metaverse With New NFT Deal – The Motley Fool

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by Katie Clinebell | Published on May 13, 2022
Image source: Getty Images
Who will make it onto your perfect MLB roster in the Metaverse?
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Major League Baseball has signed a deal with Sorare, a start-up based in Paris to operate a fantasy game built around collectible NFTs featuring major players. The tokens that players can acquire will have different values based on their rarity, and will gain points as the players featured on them perform well in games. With this next step further into the Metaverse, MLB seems to be committing to this brave new frontier in a big way, and MLB, Sorare, and baseball fans could all score from it.
Major League Baseball has made strides into the Metaverse before. Through its partnership with Candy Digital, MLB has begun producing non-fungible token baseball cards, a digital version of classic, physical sports collectibles that live on the blockchain. With this new fantasy game coming soon to the Metaverse, baseball fans are more incentivized than ever to get involved in the world of the Metaverse. Other major sports media associations, including the NBA and NFL, are taking advantage of the opportunities offered by the Metaverse. Sports fans of all kinds could find themselves getting the chance to make sports history inside the Metaverse as it grows to encompass a whole new world of sports fandom.
MLB is not the first sports league to begin investing in NFTs as the future of fantasy sports. Other popular fantasy sports enterprises have begun to incorporate NFTs in their lineups, including popular fantasy platform DraftKings, which is currently working to create a Metaverse fantasy football game of its own. With many NFT-based games already alive in the Metaverse, those who have never experienced the Metaverse’s offerings could be drawn to investigate now that their favorite pastimes are migrating to this new virtual world. Many Metaverse-centric games have seen success already, but with the inclusion of fan-favorite experiences like fantasy sports, a genre of games where players can win rewards with real-world value is likely to boom as sports fans flock to the next generation of fantasy.
With America’s favorite pastime leaning more heavily into the Metaverse, fans are given reason to follow. Only by engaging in the Metaverse can fans win NFT baseball cards, which could one day exceed the astronomical values of physical collectibles, while never deteriorating in value because they cannot deteriorate physically. This new endeavor into fantasy baseball has the potential to revolutionize fantasy sports and involve more users in the wide world of the Metaverse. Fans should choose their teams and players wisely, as the rewards could prove to be very valuable.
Looking to go all-in on NFTs but don’t have a place to keep them? Check out our guide to the best NFT wallets to start storing them today!

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Katie Clinebell is a freelance content creator and digital marketing strategist for FinTech, blockchain, and crypto brands. She has created award-winning campaigns for Snapple and Tai Pei Frozen Asian Food and received an Adobe Academic Achievement Award for content about Olympic athletes.
We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.
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Meta's losses show the metaverse's costly risk – Insider Intelligence

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Facebook parent Meta launches startup accelerator with India’s IT ministry in metaverse push – TechCrunch

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Meta Platforms is looking at India’s burgeoning startup ecosystem as it bolsters its bet on the metaverse. The social juggernaut has partnered with the Indian IT Ministry’s startup hub to launch an accelerator in the country to broaden innovation in emerging technologies, including augmented reality and virtual reality, officials said Tuesday.
MeitY Startup Hub and Meta’s effort, called XR Startup Program, will work with 40 early-stage startups and help them in research and development and developing workable products and services. Each startup will also receive a grant of over $25,000, the American giant said.
The program, supported by Meta’s $50 million XR Programs and Research Fund, will initially hand pick 80 startups to attend a bootcamp. It will also help startups with finding customers, inking relationships and raising funds, Meta said.
Rajeev Chandrasekhar, Minister of State for Electronics & Information Technology and Skill Development and Entrepreneurship, said the program is especially aimed at helping encourage technology innovation in smaller cities and towns.
The XR Startup Program is the latest of Meta’s growing participation in the South Asian market’s upskilling efforts. The firm, whose Facebook and WhatsApp services identify India as their largest market by users, partnered with Central Board of Secondary Education, a government body that oversees education in private and public schools in the country, to launch a certified curriculum on digital safety and online well-being, and augmented reality for students and educators in the country.
The program — to be implemented by four Indian institutions, including IIT Delhi — will also host a “grand challenge” for innovation in categories including education, healthcare, entertainment, agritech, climate action, sustainability and tourism, the American giant said.
“India will play a pivotal role in defining future technologies. Decisions and investments made here in India now shape global discussions on how technology can deliver more economic opportunity and better outcomes for people. It is critical that we help to create an ecosystem that will enable India’s tech startups and innovators to build the foundations of the metaverse,” said Joel Kaplan, VP of Global Policy at Meta, in a statement.
Meta’s interest with working with startups in India is also not newly found. The company has backed three startups in the country, including social commerce platform Meesho and online education group Unacademy.
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“India’s rapid tech adoption combined with a vast pool of tech talent puts the country in a vantage position for shaping the future of the internet,” said Ajit Mohan, VP and MD of Facebook India, in a statement.
“For this future to be equitable, it will require active participation from all stakeholders, including developers, businesses, creators, policymakers, and entrepreneurs. We are excited to collaborate with MeitY Startup Hub and hope that the XR Startup Program will act as a catalyst to unlock the use of immersive technology across sectors like education, healthcare, agritech and tourism, not only in India but across the globe.”

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WHAT IS QUILVIUS (QVUI)? LET'S EXPLORE THIS UPCOMING METAVERSE CRYPTO PROJECT – Asianet Newsable

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WHAT IS QUILVIUS (QVUI)? LET’S EXPLORE THIS UPCOMING METAVERSE CRYPTO PROJECT  Asianet Newsable
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