The metaverse is becoming increasingly popular among governments around the world, with Saudi Arabia being the latest to take an interest in this technological innovation. This and more news in this handy daily roundup so that you are always informed with the latest events happening within the crypto world.
Saudi Arabia has plans for the metaverse
📍The country located in the Arabian Peninsula has entered into a partnership with The Sandbox, one of the fastest-growing blockchain metaverses in the crypto industry. Sebastien Borget, COO of The Sandbox, reported on the memorandum of understanding reached between the metaverse platform and the country’s digital government authority during a ceremony at the global technology event LEAP 2023.
According to Borget, Saudi Arabia wants to explore the potential and opportunities offered by the Metaverse, a goal to which The Sandbox will contribute. “We look forward to exploring, advising and supporting each other in the activations of the Metaverse,” Borget said in reference to the partnership reached with Saudi Arabia.
Two universities collaborate on a metaverse project
📍The University of Murcia and Stanford University collaborated with Meta in the development of its metaverse. Both universities participated in a project to analyze human behavior in the metaverse led by Deliberative Democracy Lab, in which they spoke with thousands of users about the management of virtual spaces within the virtual world.
In a release, the University of Murcia highlighted its role in the development of new advanced technologies such as the metaverse.
Tesla continues to hold Bitcoin
📍Elon Musk's electric car company still owns around 10.700 BTC. After investing $1.500 billion in Bitcoin in 2021, Tesla sold 75% of its holdings in July last year, signaling its need to improve its cash flow in the face of the economic slowdown that a new outbreak of the Covid pandemic had caused in China at the time.
However, since these massive sales of bitcoins, Elon Musk's company continues to hold the rest of the bitcoins acquired with its initial investment in 2021. It is estimated that Tesla owns about 10.725 BTC, according to data from the Buy Bitcoin Worldwide platform.
With this amount, Tesla remains the fourth public company with the largest Bitcoin holdings, after MicroStrategy, Galaxy Digital and Voyager Digital. At the time of writing, the bitcoins held by Tesla are valued at $243 million.
The UK vision: A mixed economy of digital assets
📍Stablecoins have a place in the UK's plans to transform its financial system. In a Valid identity document In a consultation published by the Bank of England and the UK Treasury, both financial authorities highlighted the possibility of privately issued stablecoins coexisting with the digital pound, the central bank digital currency (CBDC) being developed by the country, to create a mixed payment economy that integrates digital assets.
Continue reading: Kazakhstan approves law “On digital assets” and recognizes crypto mining in its territory
IMPORTANT: The content of this article is for informational purposes only and, in no case, what is written here should be taken as investment advice or recommendations. Bit2Me News reminds you that before making any investment you should educate yourself and know where you invest your money, as well as the pros and cons of the system. We separate ourselves from the actions and consequences that ignorance may entail. If you decide to invest in this or another asset class, you are solely responsible for the consequences that your decisions and actions may have.
