This week’s Metaversal Badge celebrates the iconic generative art collection “Fidenza” by Tyler Hobbs. Collecting a Badge could unlock an unexpected prize, invites to unique real-world events, or access to exclusive merch. So grab one now while you still can!

DYOR 🔬

This week the world’s most valuable technology company, Apple, unveiled its first new piece of hardware since the Apple Watch debuted in 2015. Dubbed the Vision Pro, Apple’s calling it a “spatial computer,” but for all intents and purposes, it’s a mixed-reality headset in the same vein as Microsoft’s Hololens… albeit with the sort of design finesse that’s uniquely Apple.

The headset uses a combination of high-resolution displays, camera lenses, motion sensors, and a new operating system called visionOS to overlay digital information and apps over a view of the real world. A dial-like crown adjusts how much of the real world is seen versus the digital overlay — the level of “immersion” — and another physical button allows the wearer to capture images or video with the headset.

There were two noticeable omissions from Apple’s presentation of the new device during its World Wide Developer Conference on Monday. First, no Apple execs were shown wearing the device, and second, the word “metaverse” was nowhere to be found in the presentation or press materials.

The first of these anomalies can be attributed to the inherent dorkiness of AR/VR/XR headsets. There’s just no way to make them look cool, even if you’re Apple. The hardware on its own looks cool, sure, but no one looks good actually wearing it. Until it’s possible to shrink the hardware to the footprint of a pair of glasses, that will be unavoidable.

The second is a little less clear. Apple clearly wants to distance itself from rival Meta and its Quest VR headsets, and the company is going to great lengths to position the Vision Pro as far more than a mere gaming device. That, despite the fact well-heeled gamers will inevitably be some of the most enthusiastic purchasers of the $3,499 Vision Pro when it goes on sale in 2024.

Apple can shun the word “metaverse” all it likes, but the Vision Pro is inescapably a metaverse play. And regardless of the price point — which many have balked at — people will buy it. But the real question remains: Can Apple create the killer app or experience that makes its headset desirable for more than just rich gamers and (equally loaded) Apple fanboys?

The use cases Apple demonstrated on Monday suggest the answer is “not yet.” But it attracts some of the most enthusiastic and talented developers, so by the time the Vision Pro hits shelves next year, perhaps that will have changed. Apps made the iPhone; they’ll make or break the Vision Pro, too. And Apple entering the metaverse can only be good for the sector as a whole.

Probably nothing 👀

Fidenza season 🎨

It’s been a good week for generative art pioneer Tyler Hobbs. Two pieces from Hobbs’ iconic “Fidenza” collection (#545 and #725) sold for more than $1 million each, a bullish signal in a market still struggling to find momentum this year. While the pair of sales is great news, less pleasing is the suggestion that one of the collectors appears to have sidestepped paying royalties.

To our mind, royalties shouldn’t be discretionary. Royalties aren’t about making purchases more expensive; they’re about divvying up the proceeds in a way that benefits and sustains creators, rather than merely benefitting traders. Paying royalties is also simply the right thing to do. Ensuring artists reap the benefits of their labor after the initial sale is one of the core tenets of Web3, which is why we always respect royalties… and struggle to respect those collectors who choose not to.

Louis Louis 🧳

Luxury brand Louis Vuitton has announced the VIA Treasure Trunk, a $39,000 digital trunk granting owners access to unique digital and physical drops. Interested parties can sign up for the waitlist and will be informed next week whether or not they’ve been selected — but be warned, there are some pretty specific eligibility criteria.

To be eligible, a connected wallet must either contain NFTs worth more than $200,000, or a combination of NFTs and cryptocurrency worth more than $1 million, along with a selection of as-yet-undefined “blue chip NFTs” or NFTs from other luxury brands. The digital trunks are soul-bound tokens, so buyers won’t be able to trade or sell them.

To the moon 🌙

• Cryptocurrency exchange Coinbase came out fighting after the SEC filed complaints against it and rival Binance this week:

• Swarovski and Kellogg’s filed trademark applications for metaverse-related offerings, including digital tokens and other virtual items related to their respective wares.

• CTRL, which last month revealed it had created the first inscription on a Rare Satoshi, teased more about its forthcoming collection of 404 Ordinals, to be inscribed on 404 Uncommon Satoshis:

• Next week, Pillz will open its early bird orders for its $199 wearable that lets owners display their NFTs using a wristband, pendant, or carabiner.

• Noel Gallagher’s High Flying Birds has released a “digital pressing” of its latest album, Council Skies, priced at £20 (~$25) that gives holders access to the album as uncompressed .WAV files, a making-of docuseries, and other digital assets.

• NFT collection Gutter Cat Gang has partnered with sportswear brand Puma and rising NBA star LaMelo Ball on a phygital sneaker, the “GutterMelo MB.03.” Collectors can buy a digital version for $175 and, in July, will be able to redeem it for a physical iteration:

• Cryptocurrency exchange Kraken has announced its NFT marketplace is coming out of beta. The exchange promises zero gas fees (for on-platform transactions) and supports more than 250 collections on three blockchains.

• NFT marketplace Foundation revealed a new dynamic pricing model that supports rebate-style Dutch auctions. Users can drop collections, set a price range for buyers, and reimburse early backers when the price settles.

Connect for more 🔌

You can find Metaversal on Twitter, LinkedIn, Instagram, and TikTok.

Metaversal’s content director, Craig Wilson, compiled this week’s edition.

Kathryn McCawley designed this week’s wondrously wiggly Badge.

Until next time, see you in the metaverse!

This week’s Metaversal Badge celebrates the iconic generative art collection “Fidenza” by Tyler Hobbs. Collecting a Badge could unlock an unexpected prize, invites to unique real-world events, or access to exclusive merch. So grab one now while you still can!