😐 📖 Meta's metaverse division reports $2.8 billion loss in Q2

😐 📖 Meta's metaverse division reports $2.8 billion loss in Q2 👮 Dubai Police to launch another NFT collection 🎮 GameFI to be worth around $3 billion in 2028

GM. vEmpions! Our Friday motto can’t be anything else than - “work hard and party harder” but for the moment, let’s take a look at the news:

😐 📖 Meta's metaverse division reports $2.8 billion loss in Q2👮 Dubai Police to launch another NFT collection🎮 GameFI to be worth around $3 billion in 2028

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Meta's metaverse division reports $2.8 billion loss in Q2

It looks like Meta's metaverse division is, well, losing its touch.

The tech giant reported a loss of $2.8 billion for its Reality Labs division in the second quarter of 2022, missing earnings and revenue expectations. Shares dropped as much as 5% in after-hours trading on Wednesday.

Reality Labs, which is focused on developing the company's metaverse platform, posted earnings of just $452 million for the quarter. This is down from $695 million in the first quarter, and a far cry from the $2.9 billion loss it posted in the first quarter of this year.

It seems like Meta's virtual world just isn't as popular as it was intended to be. Maybe people are tired of the idea of living in a simulated reality? Or maybe they're just not as impressed by the Meta's idea behind the metaverse as they were when it was first announced.

Either way, it looks like Reality Labs is in for a long, hard road ahead.

Dubai Police to launch another NFT collection

Dubai Police has announced that it will be launching its next collection of non-fungible tokens (NFTs) at the 2022 edition of The Gulf Information Technology Expo (GITEX). This is great news for people who missed out on the first collection, which saw nearly 23 million people show an interest in acquiring them.

The Dubai Police NFTs have been a huge hit with collectors and investors alike, and the upcoming collection is sure to be just as popular.

Now that Dubai Police has gotten into the NFT game, it's only a matter of time before other law enforcement agencies around the world follow suit. We can only imagine the kinds of NFTs they'll come up with. Perhaps we'll see an "I Got Caught Speeding" NFT, or an "I Got Arrested for Public Intoxication" NFT. And of course, don't forget the ever-popular "I Got Pulled Over for No Reason" NFT.

With Dubai Police leading the way, we can only imagine the creative possibilities that law enforcement agencies will come up with when it comes to NFTs.

GameFI to be worth around $3 billion in 2028

It's no surprise that the GameFi industry is forecasted to have massive growth in the next six years.After all, who doesn't want to earn money by playing games? And in the midst of a crypto bear market, it's definitely a breath of fresh air for those projects and industries that have some substance behind them.

The GameFi industry is about to explode in growth, with a recent report from Absolute Reports projecting massive growth in the next six years.The research has the play-to-earn nonfungible token (NFT) game industry growing to an estimated value of $2.8 billion within that time span,

With a compound annual growth rate of 20.4%. So if you're looking to get in on the ground floor of the next big thing, make sure you keep an eye on the new up-and-coming GameFi projects coming to market.