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Weekly News Digest

May 24, 2022 — In addition to this week's NewsBreaks article and the monthly NewsLink Spotlight, Information Today, Inc. (ITI) offers Weekly News Digests that feature recent product news and company announcements. Watch for additional coverage to appear in the next print issue of Information Today.

CLICK HERE to view more Weekly News Digest items.

Dubai-Based Kaloscope Social Media Metaverse Gets Introduced

The Metaverse Blog shared “How Web-3 Decentralised, Social Media Metaverse Kaloscope Is Transforming Business & Using Technology to Shape Sustainability & Future,” which states the following:

Kaloscope, is the world’s first (1st) registered ‘social media metaverse’. It is defined as a Web-3, decentralised, social media metaverse, or a bridge between the physical and virtual world by developing mixed reality experiences and utilities within the Non-Fungible Tokens (NFTs) space. Kaloscope enables one to create [and] collect virtual spaces, as NFTs, and project an NFT collection in Augmented Reality (AR), Virtual Reality (VR), and Extended Reality (XR).

Kirck Allen, CEO, of [Kaloscope] says, ‘Think of us like a decentralised Facebook, but in 3-dimensional form, or a virtual world with a virtual space. You can have an NFT store within [an] NFT, and share it with your friends to make your web-3 more social[.]’

The innovation behind Kaloscope is the [platform’s] ability to transform business via ‘Utility’ & ‘Community’. Kaloscope has created utilities such as diamond and gold passes behind NFTs, in order for those who own them to not only get early and exclusive air drops, but ‘real world’ in ‘real time’ perks, such as access to [VIP] events, access to bars, [etc.] called or known as ‘perkabilities’. An example of projects with ‘perkabilities’ would be Kaloscope’s involvement, with investor ColossalBit[,] and their recent launch in Dubai of the Meta Terrace—a hybrid of a virtual & physical restaurant, [lounge] bar, where NFT holders can purchase or pay using crypto currency and enjoy exclusive access to food, drinks & VR/AR experiences. Understanding the short-comings of marketing to random groups, the platform allows specific feedback to loyal fans of brands/businesses or the community, hence, a more stable growth for businesses.  

For more information, read the blog post.

Send correspondence concerning the Weekly News Digest to NewsBreaks Editor Brandi Scardilli

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