Metaverse News #7 - we read all the metaverse stories so you don't have to 💡

Welcome! Who's got time to read the avalanche of content about the metaverse? Not you, we bet!
Let us take the strain and sort the best of what brands are doing and can do in Web3 and the metaverse for you into concise, regular roundups. It's free!
You can see previous issues here.

Purpose to the forefront:

Decentraland kicked off Pride Month with a Metaverse Pride Parade, creating a welcoming space for the the LGBTQIA+ community, especially for those who come from places where Pride celebrations are not accessible
Mastercard partnered with Decentraland on the platform's Pride events and with also Meta's Horizon Worlds
L'Oréal 's NYX Cosmetics is the first brand to sign up a new DEI hub in The Sandbox called 'The Valley of Belonging', launched to coincide with Pride Month
Clinique is bringing attention to diversity and inclusion gaps in the metaverse with an NFT profile pics giveaway project 'Metaverse Like Us'
Meet Kami and learn how the world's first virtual influencer with Down syndrome was created

Meanwhile:

A perfume in the metaverse? High-end fragrance brand Byredo and RTFKT are betting on aura over aroma in this new collaboration
Snoop Dogg, unofficial Web3 king, is opening a Bored Ape NFT-themed dessert restaurant
Amazon launches virtual try-on for shoes
Gucci and Balenciaga owner, Kering, says crypto is "no longer niche," as the company sets its sights on being "Web3 pioneers." Chief client and digital officer, Grégory Boutté, lays out its Web3 strategy
Procter & Gamble execs discuss their approach to creating value in the metaverse
The Japanese Government has approved a policy to encourage the adoption of Web3
McKinsey predicts global spending related to the metaverse could reach $5 trillion by 2030

And finally, to touch on the ongoing crypto crisis:

Bitcoin's price continues to slide after crypto lender Celsius Network froze withdrawals
Coinbase, the US's biggest cryptocurrency exchange, has laid off 18 percent of its workforce
As the crisis unfolds, the floor or entry-level price for a Bored Ape Yacht Club NFT has fallen below $100,000 for the first time since August 2021 - down 78 percent since April

The Brandtech Group founder and CEO David Jones gave a keynote presentation, Unpacking the metahype, at the recent WFA Global Marketer Week in Athens.

"I personally think it will be the biggest technological revolution I see in my career - no one knows - but I think it has the potential to be that big, and because it has that potential, as marketers we have a responsibility to know about it and have a strategy,” he says.

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