McDonald’s Goes Metaverse for the Year of the Tiger

It’s been a busy start to the year for the NFT marketplace and for the Metaverse. Just last week, news had hit the wires of Warner Music Group going Metaverse with a Sandbox (SAND) theme park.

While demand for land in the Metaverse has been on the rise, a number of regulators hold a negative view on the Metaverse and virtual assets in general.

Current Metaverse Regulatory Landscape

At present, Metaverse regulatory oversight is on the lighter side, with growth in the space yet to draw the interest of regulators globally. The Metaverse has caught the eye of a number of regulators, however.

China’s central bank, the People’s Bank of China (PBoC) has been one regulator that has voiced concerns over NFTs and the Metaverse. Late last year, we reported of a surge in China company applications for Metaverse trademarks. Firms including Huawei Technologies and Tencent have applied for trademarks in spite of warnings from the PBoC The PBoC’s AML unit has reportedly claimed that the Metaverse represents threats by providing a pathway for illegal activities.

While the PBoC has raised concerns, at the turn of the year there were reports of Cities in China going Metaverse. Last month, news hit the wires of China’s 9^th most populous city, Wuhan City, proceeding to integrate with the Metaverse and blockchain.

While regulatory scrutiny is unlikely to abate any time soon, mainstream companies will likely continue to enter the Metaverse. Unlike the adoption of blockchain technology and digital assets, firms appear to more actively exploring the Metaverse and NFTs.

McDonald’s Enters the Metaverse

Overnight, news hit the wires of U.S fast-food chain McDonald’s partnering with Humberto Leon to rolling out a Zodiac collection within the Metaverse. The collaboration is in recognition of the Lunar New Year and the Year of the Tiger.

From 1^st February to 15^th February, fans can enter AltspaceVR and Spatial, virtual reality platforms, to view the Zodiac collection. Horoscope readings are also on offer for fans who explore the collection. Fans can also relax in the McDonald’s lounge. The lounge features a lantern display and fans can light their own lanterns to release into the sky. In the tradition of giving hongbao, fans can even share virtual red packets with other fans.

Humberto Leon is the co-founder of fashion brand Opening Ceremony, with retail stores across the world.

Metaverse Linked Price Predictions for 2022

According to a report published late last year, SAND and MANA are two leading projects in the Metaverse space. Both tokens were amongst the best performers last year. The markets are expecting more of the same as interest in the Metaverse grows. Morgan Stanley analysts reportedly see the Metaverse potentially growing to an $8tn market.