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It’s not just a game. It’s not just an escape. This is real commerce | ticker VIEWS

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Vans’ collaboration with Roblox highlights the endless commercial possibilities of the metaverse

The Virtual experience inside the video game creation platform Roblox will allow people to create a custom avatar and visit a Vans store, where they can purchase virtual items.

Players will be able to purchase virtual items with in game currency – Roblox – and skate around in virtual recreations of famous skate parks.

The move is an example of commercial businesses exploring the metaverse, which combines virtual and augmented reality.

Mat Cole, from ACT Capital Partners, told Ticker News the experience was another step towards commerce embracing the metaverse.

“The metaverse is essentially a convergence between your physical world and the digital world where you can actually sort of simultaneously in real time connect with people through avatars or shared experiences.” he said.

Cole believes the experience will allow Vans the ability to reach a new audience, through giving people the ability to engage with the brand through the metaverse.

“It allows people to build a really emotional attachment to the Vans brand inside the inside the metaverse.”

According to Cole the metaverse can create an inclusive experience for customers to engage with the world’s biggest brands.

“If I speak French, Italian, German Mandarin, I can log on in my own portal and have a metaverse experience and talk to someone inside the Nike flagship store in my own language and purchase something that is then sent to my house,” Cole said.

“So we know we’ve got this frictionless E-commerce now, where things are delivered in 24 hours, 48 hours.”

Cole does however highlight the potential ethical issues in marketing through a platform geared towards children in Roblox.

“The challenge with Roblox is because it’s got a younger audience. How do you how do you monetize it?” he said.

“It’s an ethical issue of how you start monetizing and getting kids to pay for consumers and consumer goods.”

The metaverse term was first coined by writer Neal Stephenson in his 1993 sci-fi novel Snow Crash. In the book, the metaverse was the successor to the internet, and was used as an escape by people from the dystopian earth.

People in the metaverse would express their status through the appearance of their digital avatars. In recent years payable skins have become common in video games.

Non Fungible Tokens (NFT) have allowed people to have ownership of digital assets in recent times, and can contribute to the E-commerce that is beginning to boom within the digital world.



Tech

Twitter Files: Jack Dorsey urges Elon Musk to ‘release everything without filter’

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The fallout continues as Elon Musk keeps pursuing transparency

Ex-Twitter boss Jack Dorsey is calling on the new CEO Elon Musk to make all the ‘Twitter files’ public.

The move comes after the company’s former deputy general counsel James Baker was fired for his role in suppressing the Hunter Biden laptop story.

Baker is accused of being part of a ‘deep state’ at the social media platform and sabotaging or obstructing the recent efforts by Musk in releasing information to the public.

Twitter’s former deputy general counsel James Baker is also former counsel to FBI director James Comey.

The situation allegedly came to Musk’s attention on Tuesday after revelations that Baker was delaying the release of files showing government collusion with Twitter to journalists Matt Taibbi and Bari Weiss.

In a Tuesday thread Taibbi wrote, “On Friday, the first installment of the Twitter files was published here. We expected to publish more over the weekend. Many wondered why there was a delay.”

“We can now tell you part of the reason why. On Tuesday, Twitter Deputy General Counsel (and former FBI General Counsel) Jim Baker was fired. Among the reasons? Vetting the first batch of ‘Twitter Files’ — without knowledge of new management.”

Ohio Republican Congressman Jim Jordan promised investigations into this and other Big Tech firms colluding with government officials to suppress information.

“I am very concerned about the government influencing big tech in this collusion we now see big tech, big media, big government all working to keep information from with the people,” Jordan said.

When asked about this story during the White House daily press briefing, press secretary Karine Jean-Pierre said she will not comment of things that happened during U.S. President Joe Biden’s presidential election.

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How did Musk lose his title as the world’s richest person?

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Elon Musk has briefly lost his title as the world’s richest person

This is all following a steep drop in the value of his stake in Tesla and his $44 billion purchase of Twitter.

Bernard Arnault, the CEO of LVMH, which includes luxury brands such as Louis Vuitton, briefly took over the title, with a personal wealth of $185 billion.

Musk has held the top position since late 2021, but has seen his wealth drop, as Tesla investors are worried that he is focused more on Twitter than the electric vehicle company.

Tesla has lost nearly half of its market value and Musk’s value has fallen approximately $70 billion since he made a bid for Twitter back in April.

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Tech

Musk slams investigation of bedrooms at Twitter HQ

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It’s every office worker’s dream, turning headquarters into a snooze zone… but Elon Musk has slammed concerns

Elon Musk has criticised San Francisco Mayor over an investigation into offices turned into bedrooms at Twitter’s headquarters.

Musk accused the city of attacking companies providing bedrooms for “tired employees”.

The new Twitter boss recently demanded staff committed to long hours or left.

San Fran authorities are investigating potential violations of the building code

A Department of Building Inspection official told local media ‘We need to make sure the building is being used as intended.”

It follows this tweet from the director of product management, attracting thousands of eyeballs for her hashtag ‘sleep where you work’ post.

In May 2020, prior to Musk’s takeover, Twitter told employees they could work from home “forever” if they wished too.

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