Companies are rushing to build for a metaverse — even as consumers are still trying to understand the concept.
Driving the news: Nike just acquired RTFKT, a developer of digital goods, including virtual sneakers and NFTs (non-fungible tokens). Meanwhile, Applebee’s is launching a new NFT every Monday this month, following White Castle’s move into crypto.
Course Hero, a Silicon Valley provider of online class study materials, has raised $380 million in Series C funding at a $3.6 billion valuation led by Wellington Management.
Why it matters: The company is becoming a major education industry acquirer, having recently bought CliffsNotes, LitCharts, QuillBot and Symbolab.
The Labor Department is investigating a complaint by former Apple employee Ashley Gjøvik that the company illegally retaliated against her after she reported workplace safety issues to federal authorities.
Why it matters: The move comes as Apple, like other large tech firms, is facing inquiries from a wide array of local and national regulators.
The newly announced merger between Vox Media and Group Nine Media will create "the fastest-growing company of scale in media," Vox Media CEO Jim Bankoff told Axios.
Why it matters: The deal "officially takes us out of startup mode," said Group Nine founder and CEO Ben Lerer, who will join the new company's board.
An Alphabet-backed company wants to rethink how 5G services are delivered to ensure communities don't fall into a wireless digital divide.
Why it matters: The internet has become necessary infrastructure during the pandemic, but ubiquitous 5G service has been slow to fully develop in the U.S.
Google has agreed to set up a privacy and online safety initiative for children in New Mexico, after being accused of violating U.S. law that governs children's privacy on the internet.
Driving the news: Google LLC and New Mexico Attorney General Hector Balderas announced a settlement Monday over allegations Google violated the Children's Online Privacy Protection Act (COPPA) and New Mexico state consumer protection laws.
Veteran game designersWill Wright (The Sims, Sim City) and Peter Molyneux (Black & White, Fable) announced plans to make new NFT-based games during a weekend showcase held by NFT gaming company Gala Games.
Why it matters: It’s part of an attempt to prove that NFT gaming is legit, trading on the reputations of two prominent men who haven’t made hits in many years.
Epic Games is using an impressive new demo set in the world of The Matrix to promote its business and argue that photorealistic video games are within reach.
Why it matters: Long before Fortnite made Epic the behemoth it is today, the company’s Unreal Engine game development tech greatly influenced how games were made and what they look like.
