Dear XR Insiders, The much-anticipated video for our "Understanding the Metaverse" event is now available. We had countless emails and messages from people asking for a recording of the event. I sincerely want to thank each one of you for your ongoing support and also Superworld for making this event happen! So, without further ado, here are the recordings of each session. Close to 15,000 registered for this event, and I look forward to seeing you again at another metaverse/XR event! Have a safe and enjoyable weekend.  
| |  Gia | |
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 Nike is suing over sneaker NFTs. The company filed a lawsuit against StockX in a New York federal court this week over trademark infringement and the sale of unauthorized tokens. StockX, an online reseller worth $3.8B, has not yet taken down the sneaker NFTs from its website. More: - The dispute filed by Nike claims that StockX is minting, marketing, and selling unauthorized Nike sneaker NFTs that bear Nike trademarks at "heavily inflated prices."
- Nike seeks to block the sale of the sneaker NFTs and demands an undisclosed amount in damages, claiming the tokens will confuse consumers.
- The shoemaker accuses StockX of selling 500 Nike-branded NFTs with very "murky terms of purchase and ownership," which it claims has affected its reputation and legitimacy.
- StockX started selling the tokens in January.
- The collection is called "The Vault," consisting of nine premium Nike sneakers and offering buyers the physical version of the shoe "in the near future."
- Nike had acquired RTFKT in December plans to release its own sneaker NFTs later this month.
Zoom out: - NFTs are becoming popular, and we are likely to see more legal battles in the near future.
- Other lawsuits in this space include Miramax suing Quentin Tarantino for selling NFTS of the handwritten script to his 1994 movie Pulp Fiction, claiming copyright infringement.
Reuters 
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 Decentraland, a metaverse play-to-earn platform, has earned $7.5M in revenue and 6,000 daily users in three months on Decentral Games' casino. Decentraland is a decentralized virtual world that allows users to buy and sell land using cryptocurrency. More: - Decentraland is a virtual game that allows players to buy and sell digital real estate, create digital art, and play casino games while interacting with other users in the virtual world.
- Founder Miles Anthony said: "At any given time, we have over 1,000 players playing poker."
- These numbers are still considered fairly small, but when you consider open metaverses, the number of users is pretty substantial.
- Opensea has over 50,000 users per day, and the NFT marketplace was valued at $13.3B.
- Decentraland is built on the Ethereum blockchain, and when it first launched in 2017, a plot of land was being sold for $20. In Nov. 2021, the Metaverse group bought a parcel of digital land for $2.43M.
- MANA is the currency in the game. It sold for $0.02 in its early days, and now it can be seen in the range of $2.79 -$6.
Coindesk
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 Ferrari NV is entering the metaverse as the luxury automaker looks to bring brand awareness to an audience in the virtual world. Ferarri is also looking to include blockchain and NFT tokens in its future offerings. More: - The company is exploring digital services that blend virtual reality, gaming, and social media that are aligned with marketing and advertising efforts.
- CEO Benedetto Vigna said: "It's important to look into new technologies that could help our brand."
- Digital entertainment is not a new concept for Ferrari — last year, the company made its 296 GTB model available in the Fortnite gaming platform.
Bloomberg
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 Nextech AR announced the launch of ARitize. This beta metaverse app is an "all-in-one metaverse creation studio" that helps users to spatially map their location within minutes and more. More: - ARtize Maps will be available for Android and iOS users and will allow users to map their location, create 3D objects, navigate, text, and utilize the app's other features.
- Use cases include augmented physical spaces. Conference attendees can use the app to find a booth location, and presenters can showcase their work in 3D using the app.
- The team behind ARtize believes that this app will create new 3D/AR solutions for new markets.
- The app will also come with preloaded 3D objects, but creators can also upload their own OBJ files with augmented reality content.
- Users can share their locations with others and publish their mapped spaces.
- You can download the beta version of the app now at no cost, and there is no requirement for in-app purchases; however, once the full product is released, there will be a monthly subscription fee.
Auganix
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 Peloton reached an all-time peak in January of 2021, but as pandemic restrictions began to ease, the company saw a decline in interest from consumers. The company has an oversupply of its exercise equipment but less demand, and its stock price dropped by 24%. Blackwells Capital called for the removal of Paleton's founder and CEO, John Foley, but there may be some hope for the company in the metaverse. More: - VirZoom might have the answer. The startup creates VR experiences by integrating immersive technology with bikes and treadmills.
- The rise in popularity for the metaverse and Oculus Quest 2 has given VR new hope:
- In October, Meta announced Beat Saber, which allows users to perform calisthenic exercises in VR, had generated $100M in revenue on the Quest platform.
- Peloton can also benefit from VR technology through a partnership with VirZoom or an acquisition.
- VirZoom has 270,000 active users and Peloton has 5.9 million members. If the companies joined forces it could help save Peloton's declining demand.
- VirZoom is valued at $24M and Peloton has $1B cash at hand, which would make it a very easy purchase.
QZ
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 Companies like Pepsi Co and Crocs are looking to hire top gaming talent for the creation of virtual worlds. The metaverse hype has marketers scrambling to attract gaming experts. More: - It's a competitive hiring market, but it seems that for the first time, hiring managers are looking for people that have a passion for gaming and web3 more than education and industry experience.
- PepsiCo's Adam Harter said: "We need people who are comfortable being in a constant state of disruption, and we need world-class collaborators because to succeed in the metaverse, we know we need to bring together highly specialized experts across a plethora of disciplines to make big things happen."
- PepsiCo is offering a $92,000 salary to an analyst that will help market Mountain Dew to gamers. The company has been targeting gamers since a 2005 Xbox partnership.
- Major League Soccer is actively hiring a VP of emerging ventures for an NFT product.
- SoundCloud is seeking a Senior Manager for gaming and metaverse business development.
- Crocs are hiring a strategy manager for the metaverse.
Zoom out: - The metaverse is gaining in popularity in media, business, and tech, but it does come with a unique set of challenges that no one is addressing. Some of these include:
- Physical abuse, breach of biometric data, fraud and theft, and a lost sense of reality.
- It will be interesting to see how big tech addresses some of the challenges as they build the new digital reality.
Business insider
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QUICK HITS: - For Completeness of Vision and Ability to Execute, the Gartner Magic Quadrant named Adobe a Leader among 17 vendors — See why here.*
- Meta Platforms' start to the metaverse is not looking very good and also proving to be a very costly endeavor.
- A look inside Walmart's plan to enter the metaverse ecosystem.
- The metaverse could potentially revolutionize the retail sector, including augmented reality applications.
- SPACs' failed real-world results mean that they could be looking at a future in the virtual worlds.
- Codoxo, a healthcare AI solutions provider, closed a $20M oversubscribed Series B from QED Investors and others.
- Your money matters. Let's make more of it. Stocks are great, but there are many more options now. That's why we've been reading the Alts newsletter.*
*This is sponsored content.
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Upcoming Events: - February 08 - Venturing in VC - Episode #6 with Jeff Fluhr (Craft Ventures) (Register Here)
- February 09 - Interview with David King Lassman (GigXR) (Register Here)
- February 09 - A Twitter Spaces event with Bored Elon Musk (Register Here)
- February 10 - The Business of Wellness (Register Here)
- February 17 - Efficient Marketing Strategies in a Post iOS 14 World (Register Here)
- February 23 - Need to Know NoCoder: Derya Sousa (Kianda Technologies) (Register Here)
- February 24 - Alternative Investments (Register Here)
- March 10 - NoCode's Impact on the Gig Economy (Register Here)
- March 23 - Need to Know NoCoder: Nichole Bestman (Bubble) (Register Here)
- March 31 - How To Build In Web 3.0 (Register Here)
- April 14 - Shopping In The Metaverse (Register Here)
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 |  | Gia Mattu is based in Calgary, Alberta. She is an entrepreneur with experience in climate technology, drones, AI, machine learning, and blockchain technology. When she's not working, she loves to hike the Canadian Rockies, try new cuisine, and travel. | | | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford. | |
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