MyTona is first Russian company to dive into the Metaverse

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MyTona has become the first com­pa­ny in Rus­sia to announce its plans in the Meta­verse sec­tor. The Yakut­sk-based game devel­op­er said in a release that the “Myton­a­verse” meta­verse will go live in mid-December. 

The release stated,

“The app brings com­mu­ni­ca­tions clos­er to real-life inter­ac­tions: in the cur­rent ver­sion users can hold vir­tu­al meet­ings, trav­el to dif­fer­ent social hubs (worlds), and throw meta­verse par­ties with friends from all over the world.”

MyTona co-founder Alex­ei Ush­nit­sky told Forbes that Myton­a­verse is a sep­a­rate enti­ty that is reg­is­tered in New Zealand.

Russia’s stance

It is note­wor­thy that last month, Vladimir Putin’s admin­is­tra­tion brought in a draft pol­i­cy for cryp­to exchanges under its anti-cor­rup­tion guide­lines. The pol­i­cy empow­ered fed­er­al employ­ees to imple­ment “audits in order to counter corruption.” 

With that, the coun­try has been con­duct­ing a crack­down to tar­get cryp­to-linked crimes. Despite that, the lat­est reports note Rus­sians as being one of the most active in invest­ing in cryptocurrencies. 

The Bank of Rus­sia point­ed out that cryp­to trans­ac­tions topped an annu­al vol­ume of 350 bil­lion rubles ($5 bil­lion). The coun­try also attracts a major seg­ment of Bit­coin min­ers, con­tribut­ing 11.23% of the aver­age month­ly hash rate. 

M is for Meta

On the Meta­verse front, the sec­tor is esti­mat­ed to become a tril­lion-dol­lar indus­try by 2022. And, Face­book isn’t the only tech giant rac­ing to lead the sec­tor. In this con­text, Bill Tai, Actai Glob­al Chair told CNBC, 

“I think they would like (if there was) only one Meta­verse, but I think that’s nev­er going to be the case. I think the meta­verse is a sub­jec­tive thing.”

 As per reports, Chi­na-based Ten­cent has made big moves in the space despite grow­ing gov­ern­ment scruti­ny.  Addi­tion­al­ly, Mor­gan Stan­ley is report­ed­ly includ­ing Meta Plat­forms and Roblox as poten­tial win­ners in the long term. In fact, with many more play­ers, it is clear that investors are con­sid­er­ing the meta­verse to be the next big oppor­tu­ni­ty. Mean­while, the Gov­ern­ment of Bar­ba­dos has also gone ahead to cre­ate the world’s first Meta­verse Embassy.

Fur­ther, it is worth men­tion­ing that play-to-earn gam­ing plat­forms like Axie Infin­i­ty have man­aged to make a mark in the seg­ment. With that, Decen­tra­land (MANA) and The Sand­box (SAND) are also now mapped in the top meta­verse mar­ket­places when it comes to mar­ket cap. 

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