Harry and Meghan could enter the metaverse
Duke and Duchess of Sussex could partner with metaverse firm Pax.World
Prince Harry and his wife Meghan, the Duke and Duchess of Sussex, are reportedly preparing to enter the metaverse with a virtual world potentially titled “The Meg-averse”.
A close source toldthe British tabloid newspaper The Mirror: “Both Meghan and Harry believe they will have an even greater ability to spread their message if they have a presence in the virtual world as well as the physical world.”
The source said: “They’ve spoken to a variety of experts and the view is ,this is the next stage to take their brand truly global."
The couple are thought to be in advanced discussions with the Zurich-based Pax.World, an open multi-purpose metaverse company that aims “to provide the widest possible user experience, maximizing opportunities to learn, socialize, play, discover and earn, and connecting communities around the world.”
The Duke and Duchess of Sussex have not yet confirmed that they will enter the metaverse.
Pax.World’s founder, Frank Fitzgerald, said: “If they are to pursue business and entertainment deals, position themselves as thought leaders, and progress their charity work, they must partner with a platform that shares their values.
“The metaverse is tailor-made for the progressive, tech-savvy, entrepreneurial audience with whom Harry and Meghan look to connect as they turn a new page, away from the Royal Family.”
After stepping away from royal duties in January 2020, the couple moved to Southern California and established Archewell Inc, a group that includes a nonprofit charitable foundation and a number of business divisions.
Metaverse momentum wanes
The concept of the metaverse has grown in the public consciousness since 2021 ,when Mark Zuckerberg rebranded Facebook as Meta Platforms, and pegged the technology giant’s future success on the mass adoption of virtual reality technology.
The momentum driving the growth of metaverses slowed in 2022, as investors moved out of more speculative investments in the face of runaway inflation and the potential start of a sustained global recession.
The market capitalisations of the leading metaverse cryptocurrency projects, The Sandbox and Decentraland, having started the year at $5.3bn (£4.4bn) and $6bn, stood at $867m and $844m on Wednesday.
Pax.World’s $PAXW cryptocurrency, at $0.029, has fallen by 22% since the $0.038 all-time high that it reached on November 3.