Yuga Labs CEO Greg Solano announced the company is restructuring and laying off employees, citing complex corporate processes as a hindrance to creativity. The European Union's think tank published a letter highlighting the metaverse's potential to enhance children's health by fostering creativity and aiding in the diagnosis and treatment of mental and physical health disorders. Professionals in the metaverse space remain optimistic about its future applications in various sectors, including tourism, real estate, and sports. Technology YouTuber Marques Brownlee demonstrated a 360-degree treadmill prototype, the HoloTile, which could revolutionize physical interaction within virtual environments. Manchester City Football Club has entered a partnership with Quidd to launch digital collectibles, offering fans unique real-world experiences.

In this week’s newsletter, nonfungible token (NFT) company Yuga Labs has laid off employees, and the European Union believes the metaverse can help children’s health. Find out how professionals feel about blockchain integration on metaverses and look into Disney’s 360-degree treadmill, demonstrated by tech YouTuber Marques Brownlee. In other news, Manchester City enters a new partnership to develop digital collectibles. Yuga Labs CEO Greg Solano announced on X that the NFT company is restructuring and laying off employees. Solano highlighted to the staff that the firm’s creative spirit was “muddied by labyrinthine corporate processes.” The executive said the company had been planning more than they were shipping, ending up in groups and committees. However, the Yuga CEO said he has a plan, revealing some steps in the reorganization process. Continue reading A government think tank for the EU published a letter laying down opportunities and challenges for kids in the metaverse. Maria Niestadt, a policy analyst from the European Parliamentary Research Service (EPRS), wrote that the metaverse can boost children’s creativity and help them heal from diseases. The EPRS wrote that virtual world tech can be used to diagnose and treat mental and physical health disorders. The think tank added that the technology can also be used to promote physical health using immersive exercises. Continue reading While metaverse hype may not be as high as in 2021, professionals working in the space remain positive about its potential for the future. Imaginary Ones co-founder Clement Chia said the metaverse presents opportunities for major brands to integrate real-world products in a virtual world. The executive said that blockchain opens up endless possibilities in the metaverse. Meanwhile, Landvault CEO Samuel Huber said their firm saw many metaverse applications in tourism, real estate and sports. Continue reading Technology YouTuber Marques “MKBHD” Brownlee tested a 360-degree treadmill prototype that could turn a metaverse into a physical playground. The device is called The Holotile, a plastic mat with hundreds of smaller pieces arranged in a geometric pattern. The device can move objects in a manner similar to that of fictional characters from Star Wars. In addition, MKBHD also tested the treadmill, allowing him to walk around in a metaverse environment. Continue reading Manchester City Football Club signed a multiyear partnership with Quidd — an Animoca Brands subsidiary — to launch digital collectibles. Quidd will develop and launch “special edition” collectibles that allow fans to unlock real-world experiences with the football club. The first product will be 200 digital player cards available on May 2. Continue reading Thanks for reading this digest of the week’s most notable developments in the NFT space. Come again next Wednesday for more reports and insights into this actively evolving space. 

Yuga Labs Restructures, EU Highlights Metaverse Health Benefits, and More NFT News