Meta to close Echo VR this summer. (Echo Games)

Meta to Close Echo VR While Spending Nearly $1 Billion per Month on the Metaverse

Our eye on the charts, the Biden Administration’s most recent publication on crypto, Echo VR to close this summer, an insight into Meta’s Metaverse investments, and news in brief from PSVR, HTC, Somnium Space, Crayta, The XR Advisory Council, and … Sega?

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The year in review and why Meta still believes in the future. (Meta)

The Year in Review

Our eye on the charts, the Fed’s movement in crypto and potentially in the XR hardware space. News briefs from the VR Awards, Ori Inbar and the Augmented World Expo, Conquest VR, Yuga Labs, VIVE, Ready Player Me, and Meta. Year-in-review content from Rooom, Virtualwear, Niantic, Meta, Ashley Huffman, and XR news outlet Mixed.

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FTX Founder Sam Bankman-Fried Arrested in the Bahamas on fraud charges. (Photo: Eva Marie Uzcategui/Bloomberg via Getty Images)

FTX Founder Sam Bankman-Fried Arrested on Fraud Charges

Our eye on the charts, FTX Founder Sam Bankman-Fried arrested on fraud charges, a peak at XR Safety Week, the premiere of a metaverse documentary, AR performances by The Gorillaz, new virtual fashions on Ready Player Me, NFT trading cards from a former president, and a roundup of XR Gaming news including Niantic, Among Us VR, Gorilla Tag, and Population: One.

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Fifth annual Snap Lens Fest kicked off this week for its global AR community. (Snap)

Fifth Annual Snap Lens Fest and New Launches From Ready Player Me and Blippar

Our eye on crypto charts, continued fallout from the FTX collapse, the U.K. exploring crypto regulation, and news briefs from Lynx, Ready Player Me, the XR Association, Snap Lens Fest, adidas, Blippar, Meta, and the Augmented World Expo.

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Macy’s launches parade metaverse experience with five NFT projects. (Business Wire)

Macy’s Parade Metaverse Experience and Varjo Teams up With Unity and Unreal

Our eye on crypto prices, a look at how institutional investors and crypto natives approach market instability, an innovative company working on “life subtitled,” major software integrations for XR headset maker Varjo, and XR experiences from Hot Wheels, Activision Blizzard and Disney and Macy’s Parade Metaverse experience round out this Thanksgiving week in Web3.

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Tom Brady, Gisele Bündchen and Steph Curry sued following the FTX collapse. (Getty)

Fallout From FTX Collapse and Nike Launches Home for Virtual Creations

This week crypto markets continue to reckon with the fallout of the FTX collapse and the Fed steps in while also exploring a digital dollar. Nike launches a home for virtual creations and continues exploring blockchain and Sony may be as well. Also, a number of fashion companies are teaming up on virtual try-on, and Nreal Air offers support for major gaming consoles.

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