OMA challenging Meta’s dominance | EY Entering the Metaverse | GenZ fueling Metaverse fashion & more

Here’s your weekly roundup of what’s happened this week in a simple, easily digestible email every Friday. Let’s get started.

“Magic is possible in the metaverse. It is a fictional world made of codes that computers understand.” - Neal Stephenson 

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The Open Metaverse Alliance declared that it will not let Meta define the future of the space. The association recently launched and already includes prominent Web3 projects such as The Sandbox, Decentraland, and NBA Top Shot. 

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The accounting giant EY is entering the Metaverse. The company which has over 300K employees in over 150 countries will integrate metaverse capabilities into the EY wavespace software. The aim is to increase the levels of interaction between different employees, by making virtual meetings more engaging and immersive. 

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Wemade, the South Korean video game developer, has secured $46 million in funding from Microsoft. This shows a positive sentiment from the tech giant backing a developer that has made aggressive bets on blockchain technology in recent years.

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A new survey by Roblox finds that Gen Z community members are fueling fashion and brands in the metaverse. The survey estimated that roughly 75% of the Gen Z community plan on spending money on digital fashion.

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Improbable’s CEO Herman Narula seems to have been won over by the rhetoric of Web3. Whilst speaking at the Web Summit, he stated that Web3 solutions are “the only means to efficiently monetize and share value in a metaverse.”

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Are Video Games Metaverses? Join Metalinq Co-Founder, Gaurang Torvekar, and Metaverse Liaison, Alexis Nicosia, as they discuss video games and whether they are metaverses in their own right.