In this week’s newsletter, read about why the food and beverage nonfungible token (NFT) market is set to exceed $2 billion by 2032, check out the Bruce Lee avatar that has made its way into the metaverse, and how the British Museum uses the virtual universe to teach world history. In other news, find out how NFT-styled debit cards can be the future of Web3, and don’t forget this week’s Nifty News, featuring Yuga Labs acquiring a metaverse studio.
Here’s how big food and beverage brands are using NFTs: Report
A report by Research and Market predicted that the global food and beverage NFT market will exceed $2 billion by 2032. According to the report, key supporting factors for the growth include blockchain adoption and the demand for NFT transparency and traceability within the food industry.
Within the industry, various brands like Pizza Hut and Papa John’s have already started dipping their toes into the space after releasing NFT collections.
The Sandbox and the British Museum bring art and history to the metaverse
Metaverse platform The Sandbox has partnered with The British Museum to create user experiences to dive into world history. The partnership will allow the museum to generate digital collectibles that reflect various collections inside it.
According to The Sandbox’s co-founder Sebastien Borget, this is an opportunity for players to learn about human history, art and culture through the British Museum.
Bruce Lee avatar to teach martial arts in the metaverse
An avatar of popular actor and martial artist Bruce Lee will teach martial arts in the metaverse through a tribute event. The metaverse platform Byte Dance hosts the event in partnership with Bruce Lee’s daughter Shannon Lee.
Users who minted avatars on Ethereum and Polygon can use their playable characters within the Byte City metaverse to interact with the Bruce Lee avatar. The game can be played on desktop and mobile devices.
NFT-styled debit cards the future of Web3 — Animoca founder…