Decentraland and Lumiere have been hired by Versus Entertainment to develop NFT and metaverse-focused perspectives for the upcoming film “Infinite Machine,” which will star Ethereum co-founder Vitalik Buterin.

“Infinite Machine,” based on Camilla Russo’s book of the same name, will be produced by Versus in collaboration with famed filmmaker Ridley Scott’s production business, Scott Free. The film will explore Buterin’s life and the world’s second largest digital asset, seeking the help of Decentraland and Lumiere to create crypto and NFT-based narratives.

Decentraland is a virtual world driven by open-source technology that allows other members to contribute to the planet’s expansion. Lumiere, an entertainment company located in Hong Kong and Singapore, is also assisting the project by creating and integrating the film’s experience into the Decentraland metaverse.

The film, which has a budget of $16 million, is anticipated to go through its third round of NFT issues in the coming months, making it the first ever NFT-financed film. According to reports, the collection has 10,499 NFTs created by 36 emerging artists, including pieces by Lucas Riberiro, Marella Gonzalez, and Eduardo Calegari.

“We think Ethereum is creating a future where users and audiences are now owners and participants,” Russo said. “We feel ‘The Infinite Machine’ film should be part of that movement and enable the Ethereum community to contribute in the making of a film about the platform.”

The 36 artists (22.5 percent), Infinite Machine DAO (10 percent), and the total movie budget will share the proceeds from NFT sales (67.5 percent ).

Decentraland brings up new possibilities for viewers.

Francisco Gordillo, the film’s executive producer, said the project “will showcase Ethereum’s ecosystem potential to mainstream audiences.”

“We’re really honored that a business like Lumiere, and a film as important as ‘The Infinite Machine,’ picked Decentraland to construct their experience and communicate with its community fan base,” said Decentraland’s Alejandro De Grazia. “There is already a relationship between movies, their communities, and the metaverse.”

Lumiere CEO Patrice Poujol told Variety, “This is a case that has the potential to alter how the entire business creates and markets its material to its followers and consumers.” Versus and Decentraland have reached an agreement that will aid in the development of the NFT collection and its integration into Decentraland.

The metaverse and business culture collide.

The business world is starting to embrace the metaverse, acquiring NFTs of virtual tracts of land on the blockchain to build up virtual infrastructures in Decentraland for its current brands.

JPMorgan

For example, JPMorgan’s “Onyx Lounge” allows the Wall Street behemoth to manage a virtual bank within the metaverse. JPMorgan accepted the notion of virtual gaming in the global economy in a recent research.

Virtual worlds reflect many facets of the global economy, focusing on parameters such as population, gross domestic product (GDP), in-game money, and digital assets, which, according to JPMorgan, feeds directly into the bank’s core strengths.

Other factors to consider are cross-border payments, foreign exchange financial asset creation, trading, and safeguarding, as well as the capacity to service consumers at scale, which JPMorgan believes will transfer well to the virtual world.

Forever 21

For retailers like Forever 21, the metaverse represents a potential to boost ecommerce and, as a result, generate new income streams.

Forever 21 entered the metaverse in December when it created a virtual store on Roblox, a popular digital gaming platform among kids. Users visit the retailer’s multi-level digital store, where they may purchase furniture, clothing, and accessories for their avatars.

Forever 21 was one of the businesses, along with Estee Lauder, who created a virtual store, renting 450,000 square feet of virtual property within Decentraland, during Metaverse Fashion Week in March. Users may interact with sales employees and even buy NFTs in Forever 21’s virtual store.

In an interview with The Wall Street Journal, Winnie Park, the fashion retailer’s chief executive, remarked, “We have embraced the rise of the Metaverse as it continues to clash with culture.”

Metis Prager

Prager Metis, a renowned worldwide advising and accounting company with offices in New Jersey, became the first CPA firm to purchase a three-story building in Decentraland in December, making it the first CPA firm to open its headquarters inside the metaverse. Prager Metis’ metaverse office now offers real world services that are important to the metaverse environment through a joint venture with Banquet LLC.

Prager Metis’ opinion that the metaverse will be the future and that technology will continue to affect how the world runs is reflected in the creation of a metaverse office, according to Glenn Friedman, CEO of Prager Metis.

“Our new Metaverse headquarters will act as a link between the traditional and digital worlds, providing the metaverse with valuable real-world financial services.” Our participation in the metaverse demonstrates how serious we are about our future vision and reinforces our opinion that financial skills and resources are in high demand in the emerging digital world.”

The first level of the building features an open-plan design to exhibit customers’ NFTs, while the second and third floors provide meeting spaces, conference facilities, and rooftop space for live events, according to the firm’s news statement.

PwC

In January, PricewaterhouseCoopers (PwC) purchased a plot of property within The Sandbox.

The Sandbox is a sandbox game for mobile phones and Microsoft Windows that was developed by Pixowl and published in 2012. It was then bought by Animoca Brands in 2018.

Since then, Animoca has repurposed the “Sandbox” brand for a new blockchain-based open-world game that sold NFTs that represent plots of virtual real estate, earning over $2.5 million for the project’s development.

PwC’s Hong Kong division did not provide an explanation for the acquisition at the time, but comments made by PwC’s crypto leader Henri Arslanian in July 2021 suggested that the business would utilize its digital assets to access and invest in smaller, but potential crypto firms.

According to a recent Citigroup estimate, the metaverse economy might be worth $8 trillion to $13 trillion by 2030.

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