According to sources, Dubai Multi Commodity Center (DMCC) recently announced the signing of two memorandums of understanding with a South Korean Metaverse platform, planning to form a partnership to facilitate the expansion of the UAE’s global Web3 business.

Founded in 2002, DMCC is the largest free trade zone in the UAE; in 2021, the government launched the DMCC Encryption Center, a comprehensive ecosystem for enterprises in the encryption and blockchain fields.

The data shows that, of all MENA countries, the UAE is the most crypto-focused country.

South Korea’s Ministry of Science and Technology announced Wednesday that it will invest 27.7 billion won ($21 million) in local services utilizing Metaverse. The $21 million investment will support 13 new projects in areas such as healthcare, education and tourism that will leverage Metaverse innovative services to improve services to the public.

South Korea announced a 40 billion won ($30 million) fund on Tuesday that will encourage small players in the metaverse to aggressively seek mergers and acquisitions to expand their businesses into global markets.

The home building materials retail giant Home Depot has settled in the Roblox Metaverse and launched a virtual version of its children’s workshop. Children can go to the Roblox Redcliff city and visit the Home Depot Metaverse storefront and start a scavenger hunt in it, aiming to stimulate creativity and promote problem solving And encourage social interaction.

Home Depot senior vice president and chief marketing officer Molly Battin said the company is taking the Kids Workshops experience to a new level in the Metaverse.

Indigo Herz, the NFT project launched by Adidas, tweeted that Adidas will hold the Into the Metaverse (ITM) event in Berlin, Germany on March 25.

ITM NFT holders can start receiving free tickets from 1:00 pm EST on March 8th, and NFT holders participating in ITM Phase 1 and Phase 2 can receive tickets through Tokenproof.

According to a letter from U.S. senators to Meta CEO Mark Zuckerberg, Meta should stop plans to distribute its Metaverse virtual world social app, Horizon Worlds, to teens aged 13 to 17, given that your company has not With its record protecting children and teens, and the mounting evidence that young users in the Metaverse are at risk, we urge you to stop this program immediately.

A spokesman for Facebook parent company Meta did not respond to the letter. Earlier news, Facebook parent company Meta said in February this year that it would upgrade its metaverse virtual world social application Horizon Worlds, seeking to attract more teenagers and young users, and plans to open it to teenagers as soon as March.

On March 1, Sebastien Borget, chief operating officer and co-founder of The Sandbox, emphasized that other metaverse platforms such as Roblox and Fortnite do not allow users to freely move digital assets between different platforms.

Borget said it is critical that users have true digital ownership of this content, that they are the true owners of their avatars, their wearables, their gear, their land, their homes, and the content they create and earn By.

Creators should get 95% or 100% of the revenue they bring in because they contribute to development.

According to Yuga Labs metaverse project Otherside highlights 9 community projects and builders on social media.

They are: “Unofficial Otherside Wikipedia” Wikiotherside, Otherside data analysis builder Otherside_wiki, media project OtherSpaceFM, podcast project NFTeaShow, Otherside animation builder Rida, Koda animation artist KEEZi.ETH and another animator Takeshi Gitano, and Koda 3D rendering project Jepgkidz and Otherside music video project ApeRaveClub.

According to a report released by Web3 Studios in conjunction with Animoca Brands, ConsenSys, The Football Company, Apex Capital and other institutions.

The World Cup may be an “inflection point” in the sports metaverse, and the shift from “passive to active fan engagement” may be the ultimate catalyst for the emergence of web3 in global sports.

Some products and services, including memorabilia, trading cards, games, fan gear, fan tokens, and e-sports using web3 to store important moments, may drive the sports metaverse market to reach $80 billion by 2030.

ALTAVA Group, the Web3 luxury fashion Metaverse platform, announced a partnership with Netmarble F&C subsidiary Metaverse World.

ALTAVA Group will distribute 1,000 BAGC NFTs to MetaverseWorld and develop the ALTAVA x BAGC golf experience on its Metaverse.

In addition, when players purchase BAGC NFT on the FNCY platform of Metaverse World, the platform will give away BAGC clothing. Metaverse World will also provide tools for BAGC NFT versions, after which Altava will be able to build virtual spaces there.

The Sandbox issued an article stating that it has reached a cooperation with “Forbes” magazine. The latter will launch a metaverse developed in cooperation with Polygonal Mind Creative Studio on The Sandbox, where users can learn about the history of Forbes, founder Malcolm Forbes and learn about 30 Under 30 Gallery and other content.

When users purchase the Forbes-exclusive wearable device, they can get a unique accessory. The Metaverse will provide a total of 50,000 SAND rewards.