56.8% of metaverse-related tweets from Vietnam were positive sentiments that support the concept. A recent analysis of more than a million tweets showed a list of countries that love and hate the metaverse, with Vietnam showing the most love for the concept and Ireland topping the opposite side of the spectrum. Crypto data website CoinKickoff…
A major Ukrainian chain of pharmacies has started accepting cryptocurrency through Binance Pay. The new payment method will be available online, according to the company, which operates hundreds of drugstores across the war-torn Eastern European nation. Pharmacy Offers Ukrainians Option to Pay With Crypto Using Binance Pay Customers of the Ukrainian pharmacy chain ANC can […]
A Ukrainian living in the U.S. has reportedly hacked a major drug market on the Russian dark web, diverting some of its crypto proceeds. The man says he donated the digital cash stolen from the illicit website to an organization delivering humanitarian aid across his war-torn homeland. Wisconsin Resident With Ukrainian Roots Hacks Russian Dark […]
The roadmap proposes the launch of a regulatory sandbox and the creation of a national blockchain-backed realty register.
Blockchain4Ukraine — a group of pro-crypto Ukrainian lawmakers — and the citizen group Virtual Assets of Ukraine (VAU) revealed a joint roadmap for promoting and developing Web3 in the country. The document was signed by its co-authors on Nov. 14, according to regional media.
The roadmap proposes a set of measures for promoting Web3, such as the launch of a regulatory sandbox for blockchain and Web3 projects, creation of a national blockchain-backed land and realty register, preparation of a “blockchain plan” to rebuild the country after the war, and integration of Ukraine into the European blockchain community.
VAU and Blockchain4Ukraine also intend to work on a self-sovereign identity pilot project and to seek ways of implementing blockchain into Ukraine’s healthcare and education systems.
The list of potential partners of the roadmap includes civil society and nongovernment organizations as well as business and scientific communities. The group working on the roadmap will prepare a set of bills to promote its initiatives on the legal level.
In June, Ukraine became the third country outside of the European Union to join the European Blockchain Partnership, an initiative derived by the EU’s 27 member states to deliver cross-border public services. Back then, VAU CEO Konstantin Ermolenko revealed Ukraine’s interest in running test-node of the European Blockchain Services Infrastructure and pilot use cases of the cross-border public services based on blockchain technology.
In March 2022, Ukrainian President Volodymyr Zelensky signed the country’s first major cryptocurrency-related legislation, the bill “On Virtual Assets.” The bill establishes the National Securities and Stock Market Commission of Ukraine and the National Bank of Ukraine as two major regulators of the crypto market.
Since the beginning of the Russian invasion in February 2022, Ukraine has managed to gather over $100 million in cryptocurrency donations through its government-curated Crypto Fund of Ukraine.
An array of crypto-related services have been targeted in the latest round of sanctions on Russia approved by the EU. The measures are part of an expected tightening of the economic and financial restrictions in response to Moscow’s decision to annex Ukrainian territories. EU Council Adopts Full Ban on Crypto Wallet and Custody Services for […]
Web3 users will soon be able to experience Africa, Costa Rica and Ukraine in the Metaverse, as organizations recreate virtual environments with a purpose.
The Metaverse is quickly becoming one of the most important places for companies and individuals looking to expand their reach. New findings from research firm MarketsandMarkets predict that the Metaverse market size will grow from $61.8 billion in 2022 to $426.9 billion by 2027.
Given this potential, a number of regions across the globe have started to establish a virtual presence. For example, the emirate of Dubai announced the launch of the Dubai Metaverse Strategy in July this year. As Cointelegraph previously reported, the Dubai Metaverse Strategy aims to attract companies and projects from abroad while also providing support in metaverse education aimed at developers, content creators and users of digital platforms.
While the concept may sound futuristic, industry experts believe that this is a logical progression. Hrish Lotlikar, co-founder and CEO of Superworld — an augmented reality content platform — told Cointelegraph that as Web3 technology becomes integrated into everyday lives, future-forward regions, governments and organizations will capitalize on communication, gamification and monetization opportunities in the Metaverse.
Organizations bring regions to the Metaverse for a purpose
This appears to be the case, as many organizations are focused on establishing geographical territories within Metaverse ecosystems. For example, Africa can be accessed virtually in Ubuntuland, a Metaverse platform that houses a land called Africarare.
Mic Mann, co-founder and CEO of Africarare, told Cointelegraph that Africarare connects Africa to the global digital economy:
“Africa is one of the fastest growing populations in the world, and by 2050, it’s predicted that it will be one of the biggest populations. Therefore, we thought this was the perfect time to upskill Africa’s youth for this new world. Africarare aims to create the future of work for Africans and organizations who wish to connect with people across this continent.”
Mann added that Africarare has secured a 12×12 village, or 144 plots, of virtual real estate in Ubuntuland to establish its visibility. He explained that users are defined by digital avatars, which can enter Africarare’s “central hub” land to partake in custom experiences. “These range from art to education and include experiences like galleries, live performances, stand-up comedy, video content channels, film festivals, safaris and more.”
Although Mann believes that Africarare will enable a sense of virtual tourism, he pointed out that the project is meant to create improved work and educational opportunities for the African population. “We believe that the Metaverse is the world’s greatest equalizer. Through Africarare, we can allow Africans to partake in this new space and thrive,” he said.
In order to ensure this, Mann explained that the World Data Lab — a data enterprise based in Austria — recently acquired a 6×6 village in Ubuntuland to develop their presence and connect to other organizations within this part of the Metaverse.
According to Mann, World Data Lab plans to use this collaboration to raise awareness of key-impact topics through virtual initiatives. “This includes developing a data science “metaversity,” to better understand Africa’s growing population.” Mann further commented that companies establishing a digital presence in Ubuntuland will seek to recruit a digital workforce from the platform’s user base.
Mann noted that users in Ubuntuland will use the UBUNTU token as its currency, which is built on the Ethereum blockchain and will be made available later this year. In the meantime, Mann remarked that art galleries across Africarare have already been established and are dedicated to showcasing Africa’s prolific creativity.
“Over 15,000 users visited the platform during an alpha launch we did in October 2021 with our Mila Gallery,” he said. Based on this success, Mann noted that the Mila gallery, which means “tradition” in Swahili, will continue to host curated collections by some of Africa’s foremost artists. He also shared that Africarar’s Inuka gallery — Swahili for “rise” — will feature works by emerging African artists. “Both galleries will stage various exhibitions on an ongoing basis with art pieces being sold as NFTs,” he said.
While Ubuntuland is focused on Africa’s metaverse, a project known as Alóki will allow users to virtually experience the Central American country of Costa Rica. Bartek Lechowski, chief operating officer of Alóki, told Cointelegraph that the platform reconnects people to nature through blockchain technology. “This play-to-own metaverse will enable users to do good for the planet and help build a sustainable future for society at large,” he said.
To accomplish this, Lechowski explained that Alóki offers its users the chance to virtually explore Costa Rica’s rainforests while participating in sustainable development. This will be accomplished through the project’s blockchain-based game in which digital actions mirror those in the real world via NFT ownership. Lechowski said:
“Alóki aims to make people pay attention to the climate change problem and be interested in contributing to something useful. For example, planting a tree in the Alóki metaverse can result in a real tree being planted in the Alóki Sanctuary of Costa Rica.”
Lechowski — who is also an owner of the Alóki Sanctuary, which is a 750-acre patch of rainforest in Costa Rica — said that thei project aims to plant more than 10,000 trees through its Metaverse initiative.
“We currently have a 10-person team of sustainable farmers and are in the process of hiring even more. We’re working hard to create harmonious heaven — we’ve already planted a whopping 11,000 fruit trees,” he added.
In addition to ensuring sustainability, Lechowski remarked that the project aims to create communal buildings that will house coworking spaces and social spaces. “Our online users will eventually be able to come and enjoy Alóki Sanctuary as a reward for their sustainable actions,” he said.
Although Alóki has yet to launch, Lechowski explained that the project will take a simplified metaverse-like model approach that will gradually be developed overtime. “We plan to launch Alóki for our community as soon as there is a common Metaverse standard implemented to work across different platforms,” he remarked. Fortunately, work being done by the Open Metaverse Alliance is currently focused on implementing such standards.
It’s also notable to mention that a nonprofit organization known as The Heritage Hub will soon allow users to experience Ukrainian history within the Metaverse. Brittany Kaiser, co-founder of the Heritage Hub, told Cointelegraph that the organization uses digital scanning, 3D modeling, and NFT tokenization to preserve local heritage to be shared globally in a metaverse museum. She said:
“The problems it solves are three fold: Firstly to have a digital archive of all heritage and cultural sites, artifacts, art and other items of importance to a nation’s history and identity. Secondly, it allows all items to be encrypted on the blockchain for tracking and traceability in case of destruction or disappearance. Lastly, it allows us to use Web3 business models to fund the historic preservation of these sites and items.”
Kaiser explained that the first Metaverse being built is for Ukraine to ensure that anyone in the world will have a chance to experience the important cultural heritage of the country. Taras Gorbul, co-founder of the Heritage Hub, added that people will also be able to contribute to digital tourism revenue that will help the country rebuild after the war:
“Users will be able to visit sites that are still standing, but that are difficult to visit. Eventually, through an avatar, users will also be able visit sites that have been destroyed in the war but have been rebuilt digitally.”
A metaverse with purpose to drive adoption
Although it’s innovative for organizations to recreate various regions in the Metaverse, it remains questionable if users will want to engage with these platforms. For instance, market research firm Ipsos recently conducted a survey for the World Economic Forum that found half of adults across 29 countries are familiar with the Metaverse. While notable, the study also found that excitement for metaverse adoption is significantly higher in emerging countries in comparison to most high-income countries. The report noted:
“More than two-thirds of people in China, India, Peru, Saudi Arabia and Colombia say they feel positive about engaging with extended reality, compared to fewer than a third in Japan, Great Britain, Belgium, Canada, France and Germany.”
This in mind, Mann believes that education is still needed in order to drive adoption. “Education and access is needed to up skill and empower Africans and the general population about these new technologies and how they can create equal opportunity,” he said.
Echoing this sentiment, Lotlikar noted that regions like Dubai that are looking to enter the Metaverse also require education that extends beyond the hype of NFTs and blockchain technology. “The vast majority of people need to understand how they can benefit from this technology in the real world,” he remarked.
In addition, Lechowski pointed out that a Metaverse with purpose will be essential moving forward. “Simply redirecting daily activities into the Metaverse is not going to drive massive adoption. We believe that providing custom experiences might do just that.” For instance, even if a Metaverse is only capable of providing an imitation of reality, Lechowski believes that Alóki has the potential to democratize access to nature in the long term.
Kaiser further noted that as more culturally important parts of Ukraine are added to the Heritage Hub’s digital museum, the initiative will be able to roll out tools for more teams wanting to add items to the museum themselves. “In the future, other countries will be able to use the Heritage Hub tech stack to create digital tourism revenue and to open source access to their heritage for education and recreation.”
The law enforcement and counter-intelligence agency of Ukraine has managed to seize the funds in a cryptocurrency wallet used to finance the Russian military campaign in the country. Officials in Kyiv claim that money collected through the wallet has been spent on military equipment for the pro-Russian separatist forces in the east. Ukraine Seizes Crypto […]
The crypto donations have played a “significant role in Ukraine’s defense,” a Ukrainian government official wrote.
The crypto community has poured in an impressive $54 million worth of crypto funds through “Aid For Ukraine,” aimed at supporting the country’s military efforts against Russia, the Ukrainian Deputy Prime Minister has revealed.
The $54 million has been funneled in through the Ukrainian government-run initiative ‘Aid For Ukraine’, according to Ukraine’s Deputy Prime Minister Mykhailo Fedorov’s Twitter post on Thursday, who thanked the crypto community for their support:
“Every helmet, bulletproof vest, and night vision device save the lives of Ukrainian soldiers. Thus, we must continue to support our defenders. Thanks so much to everyone from the crypto community for supporting Ukraine!”
According to the Ministry of Digital Transformation of Ukraine, Aid For Ukraine’s $54 million has mostly come in the form of 10,190 Ether (ETH), worth $18.7 million, 595 Bitcoin (BTC), worth $13.9 million, Tether (USDT) worth $10.4 million and USD Coin (USDC), worth $2.2 million.
The crypto payments have gone towards military equipment, hardware, and munitions, including $11.8 million worth of unmanned aerial vehicles (UAVs), which are typically used to spot enemy troops and direct attacks.
A significant sum of the donations was also spent on armor vests at $6.9 million, along with $3.8 million on field rations, $5.2 million on anti-war media campaigns, and $5.0 million on “weapons of the [Ukraine] Ministry of Defense request”, among other military and medical accessories.
With $54 M raised by @_AidForUkraine, we’ve supplied our defenders with military equipment, armor clothes, medicines and even vehicles. Thanks to the crypto community for support since the start of the full-scale invasion! Donation by donation to the big victory. Report below. pic.twitter.com/lifHAP8R4f
“Crypto is playing a significant role in Ukraine’s defense”, said Deputy Minister of Digital Transformation of Ukraine Alex Bornyakov on the government-tied donatiowebsite.
Founder of Ukrainian-based crypto exchange KUNA Mike Chobanian added that the contributions from the crypto community have shown the impact that blockchain technology can have on nation-states, stating that it can serve as a “backbone of global security” in times of need.
Aid For Ukraine works by transferring crypto into the crypto exchange FTX, which converts crypto into fiat, and is then withdrawn and transferred to the National Bank of Ukraine.
But Aid For Ukraine isn’t the only organization taking in funds to assist Ukrainian defense efforts. Reserve Fund of Ukraine, Come Back Alive, UkraineDAO and Unchain Fund have also contributed funds in the seven-figure range, although the amount of crypto-based funds they’ve taken in hasn’t been disclosed since March.