Metaverse Bank Heists, Trump NFT biz Prefers Crypto to Cash, and More

Stick them! Bank Robbery Exercises in the Metaverse

Bank of America is mixing a metaverse of virtual reality and artificial intelligence to train new employees on everything from handling angry customers to bank robberies.

Bloomberg reported on July 13 that the bank’s 2,000 new hires are undergoing a week-long training program that includes donning a VR headset to practice responding to a variety of simulated situations.

VR modules include mundane situations like helping an upset customer or interrogating a customer who is asking for a large sum of money, and extreme situations, like a full-fledged bank robbery.

Newcomers can also simply relax in virtual reality by riding a unicorn or sitting on an island.

An upset virtual client that new BoA staff need to calm down. Source: Bloomberg

AI is also deployed in training, new recruits practice conversing with a bot acting as a client and are helped through the conversation by another AI bot.

Currently, more than 200,000 BoA employees worldwide have been aware of the virtual training. The bank’s call centers also have an AI coaching bot to help deepen conversations with customers. Managers can also handball additional staff training to bots.

The BoA Academy’s head of innovation and design, Mike Wynn, told Bloomberg that the training is beneficial because these scenarios are “difficult to teach traditionally.”

“Virtual reality creates anxiety, it makes your heart beat faster. It makes you nervous,” he added.

Its metaverse is also being considered for use at job fairs with the aim of attracting a younger audience for an exciting career in banking by having them virtually experience the buzz of a bank associate. .

Donald Trump’s NFT Business Opts To Hold On-Chain Funds

Former US President Donald Trump’s non-fungible token (NFT) licensing business apparently chooses to keep its funds on Ethereum, with recently updated disclosures showing almost nothing in its bank account.

Updated disclosures Trump filed with the Office of Government Ethics released on July 13 provided more details about his finances and business dealings – a legal requirement as he bids for the presidency again. .

CIC Digital, the company that derives revenue from licensing fees for NFT collections that use Trump’s likeness, has a US bank account with a balance of less than $1,000.

Meanwhile, the company’s Ethereum wallet contains between $250,000 and $500,000.

In a previous April disclosure, Trump said he earned between $500,000 and $1 million from his NFT licensing deals.

Trump’s new run for president legally requires him to file a “personal financial disclosure” which may be broad in nature, but it’s unclear why he updated his financial information to be more specific.

Two sets of NFT collections have been released featuring Trump, the latest of which, released in April, sold out on day one.

The $560,000 Siemens Campus will be built in the Metaverse first

German tech conglomerate Siemens has pledged to build a new $560,000 (500 million) tech campus near Nuremberg, Germany, but will appear digitally first in the Metaverse.

On July 13, Siemens announced that it was spending $1.1 billion (€1 billion) in investment to create a “master plan for the industrial metaverse” in the country. Half of that amount is going to campus with the goal of making it a hub for what he calls the Industrial Metaverse — a digital recreation of locations used for troubleshooting and analysis.

The campus will be built just north of Nuremberg and before construction begins, the buildings will be planned and simulated in the metaverse and then copied in the real world, according to Siemens.

The digital replica will optimize and adjust the layout before any ground is broken. The campus will be set up next to its existing factory which manufactures electronic components.

The funding is part of the company’s $2.2 billion (€2 billion) investment plan announced last month, which aims to build new education centers and regional centers.

Puma NFT sneakers let you listen to tracks, while being on track

Athletic shoe company Puma, NFT Company Legitimate and rapper Jay-Z’s entertainment agency Roc Nation have teamed up for a collection of NFT-integrated sneakers.

The collection dubbed “The Evolution of the Mixtape” was released on July 14 and includes three sneaker designs called “Disc”, “Cassette Tape” and “Playlist”.

The left shoe tongue features an NFC chip that can be used with a phone to grant access to an exclusive portal featuring unreleased music from Roc Nation artists, video content and a documentary.

Related: ZachXBT research cited in Canadian NFT rug pull class action

The shoes are priced at $130 a pair and legitimate retailers can link their NFC tags to an NFT that authenticates the actual product.

Such “phygital” streetwear has proven popular, in June French luxury brand Dior launched a new line of sneakers with a pair coming with a “digital twin” – an NFT.

More exciting news:

NFT Dapper Labs experienced its third round of layoffs in nine months on July 13 with 51 full-time employees and contractors laid off, or about 12% of the company’s workforce. In November last year and February 2023, it cut its workforce by 22% and 20% respectively.

An NFT collector explained how he secured a $35,000 decentralized finance (DeFi) loan by posting a luxury Patek Phillipe watch as collateral, which was then turned into an NFT granting ownership of the watch for secure the transaction.

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