Following the announcement that Facebook's parent visitor would exist rebranding in a shift towards the Metaverse, many projects have started similar initiatives entering the virtual space, from buying property to testing the limits of what this universe has to offering.

Virtual ball driblet on NYE

The Ethereum-based virtual reality world Decentraland announced on Wednesday that a New Twelvemonth's Eve celebration would be taking place in the Metaverse. Grayscale owner Digital Currency Grouping has partnered with real estate firm Jamestown to create a virtual Ane Times Square — the iconic New York City location where a giant ball descends on a flagpole, stopping at midnight to mark the get-go of the new year's day. The virtual event starting at 11:00 pm EST will feature a live feed of the existent Times Foursquare likewise as crypto art galleries, games and virtual gatherings.

"The metaverse is quickly evolving to bring together the most interesting and alluring parts of our favorite physical places around the world," said Simon Koster, the Digital Currency Grouping's head of existent manor. "This event highlights how virtual events can cohesively integrate with real ones in an effort to bring once-in-a-lifetime experiences to so many that would take never been able to participate otherwise."

Times Square in the Metaverse. Source: Decentraland

Celebrity capitalizes on the space

Reality Television set star Paris Hilton has her own New Yr's Eve party plans involving the Metaverse — and these are (about) far away from the hustle and bustle of Times Square. Gaming platform Roblox is abode to a virtual isle called Paris World where the socialite will be playing an electronic set for virtual patrons on Dec. 31. Hilton, who commands a following of millions on social media, may depict quite the virtual crowd.

It'south unclear how many people volition be attending Metaverse events as opposed to jubilant the new year in person due to the rising in COVID-19 cases in the United States and worldwide. Last week, New York Metropolis Mayor Pecker de Blasio announced the New Year's Eve events in Times Square would be limited to 15,000 people — there are usually 58,000 in attendance — with everyone required to article of clothing masks and bear witness proof of vaccination.

Exchange-traded funds going meta

At least iii companies in the United States and Canada have launched or program to launch substitution-traded products with exposure to metaverse-related firms.

In Nov, Evolve Funds Group and Horizons ETFs Management listed their metaverse substitution-traded funds (ETFs) on the Toronto Stock Exchange, with the latter tracking the functioning of the Solactive Metaverse Theme Index (SOMETAV). The index includes tech companies Apple and Nvidia, as well equally social media giant Meta. Shares of the offering have fallen roughly five% and 3%, respectively, since launching on November. 29.

Related: Baidu metaverse app would take 6 years for a full launch, VP says

In the United States, however, the outset visitor to successfully launch an ETF with exposure to Bitcoin (BTC) futures has begun delving into the metaverse. A Tuesday filing from the Securities and Exchange Commission shows ProShares plans to launch a metaverse-focused ETF tracking SOMETAV. The SEC has yet to approve the offering.