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Virtual Real Estate Crashes, $100m Fund Launches & Nvidia Go All In - Issue #4

AIXR Weekly Brief
AIXR Weekly Brief
Good morning Metaverse Business Brief readers. Delve into insights from the Metaverse world for the week. Welcome to our weekly roundup.

Top Stories
At the SIGGRAPH 2022 conference, Nvidia revealed their latest set of software innovations for computer graphics and a series of technology innovations that will bring the metaverse and AI closer together than ever before. Nvidia also announced their Omniverse Avatar Cloud Engine designed to create AI-powered virtual assistants.
The virtual real estate market is crashing despite a McKinsey report predicting a $5 trillion market by 2030. All thanks to massive declines in the prices of virtual lands in 2022, led by user interests waning and a crypto bear market. Metaverse projects built on the Ethereum blockchain, including the Sandbox and Decentraland, have witnessed substantial declines too.
Lenovo teased a ‘Legion VR700’ headset in a poster shared on social media in China. The poster shows a headset with a halo strap and at least two cameras on the top corners of the front for tracking likely, No cable is visible, suggesting it could be a standalone headset.
In Funding
FundamentalVR has raised $20 million in a round of funding to accelerate skill transfer and surgical proficiency through virtual reality and mixed reality applications.
Africa’s first Metaverse venue SodaWorld has secured initial global investment from a prestigious Swiss venture capital firm: CV VC. The technology start-up enables artists to earn much-needed revenue from within the Metaverse.
Singapore’s LongHash Ventures has launched a new fund worth $100 million after the Asian Web3 VC received strong support from global investors. The LongHash Ventures Fund II is backed by several Web3 VCs, single-family offices, and Web3 founders
Everdome a Dubai Metaverse company secures $10 million funding. The investment will be made through a structured token agreement, and comes during a period of heightened activity for Everdome as it looks to auction land plots in the metaverse.
Keep an eye on
Augmented reality helmets were developed for training Fighter Pilots. Air Force pilots will use augmented reality helmets to train.
XRA Commended the CHIPS and Science Act. President Joe Biden signed the H.R.7178 Act after lawmakers on Capitol Hill passed the landmark bill.
The Taiwanese Ministry of Digital Affairs is looking to implement decentralized technology into its web portal to fight against cyberattacks.
£2 million funding has been secured to build a cutting-edge extended reality lab in Bury St Edmunds for students across Suffolk.
The Edit Ldn is entering the metaverse with a premium store within Bloktopia’s crypto paradise. The Edit Ldn are a High-end global marketplace for sneakers.
Events to be at
Our best wishes for a productive day. Please send any news, comments, and flowers to team@aixr.org.
August 15 2022 Edition
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AIXR Weekly Brief
AIXR Weekly Brief @AIXRorg

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