Meta's roadmap revealed, #SaveEcho campaign grows, and Republic cancels $75 million fund.
Meta's roadmap revealed, #SaveEcho campaign grows, and Republic cancels $75 million fund.
This week...Meta unveils future roadmap to employees, the 'Japanese Metaverse Economic Zone' is formed, and the return of the second Decentraland Metaverse Fashion Week is confirmed.
Good morning Metaverse Business Brief readers. Let’s jump into the most relevant news from the immersive world in our weekly roundup.
Top Stories
Meta’s AR/VR roadmap unveiled for next four years. An internal presentation to Meta staff highlighted plans for three brand new Quest headsets, alongside the promise of smart glasses glasses in 2025 and a special neural interfacing smartwatch. The plans highlight a desire to continue investing in consumer hardware despite cost cutting across the organisation.
Japanese ‘Metaverse Economic Zone’ formed. A collection of organisations based in Japan have agreed to form an open metaverse infrastructure called “Ryugukoko”. The content presented in the final experience will invite end users to engage in an RPG style journey using virtual avatars. By ensuring the infrastructure is open and secure, the group ensures that stability and safety for users is paramount.
Decentraland’s Metaverse fashion week returns. The much covered event, which debuted in 2022, will return for it’s second run from March 28th-31st. The theme for the event is said to be ‘future heritages’, and digital designer Tangpoko will become the first supermodel to walk a virtual runway as an avatar in digital wearables.
HTC “face gasket” causes stir at MWC. During the Mobile World Congress in Barcelona, HTC unveiled a new alternative forehead pad for the latest Vive XR Elite. The much discussed smaller forehead pad is said to allow users to maintain situational awareness in virtual worlds which using real world equipment, while improving overall comfort.
In Funding
Republic cancels $75 million fund. Republic are the third largest equity crowdfunding portal in the U.S, and the owners of Seedrs - the largest portal in the UK. The cancelling of the “Real Metaverse Real Estate” fund is said to be a result of the crypto collapse and increasing attention from the Securities and Exchange Commission (SEC).
Orange Comet raise $7 million. The firm, based in the market of Entertainment NFT’s, have created digital collectibles for actors, sports stars, and television shows. The funding is said to allow the organisation to push on with more “dynamic content”.
Pimax secure $30 million in series C1 funding. The VR hardware manufacturer confirmed the investment, which was led by Beijing based firm Tuanmu Capital. The funding will allow for the expansion of global business operations, improved R&D, and preparation for the growth in demand of the Pimax Crystal and Pimax Portal products.
Hexa raise $20.5 million series A funding. With involvement in the funding round from HTC, The 3D asset visualisation and management platform have confirmed that the funding will go towards product development and the expansion of ‘customer acquisition.
Keep an eye on
VR community rally to back Echo VR. Amidst the news that popular esports game Echo VR is to shut down on August 1st 2023, a group called “Fight for Echo” has thought back to support the game - even going so far as to purchase sky banners to fly above Meta HQ.
Edtech firm Near-Life prepare EU expansion. Near-life, one of the largest EdTech providers in the UK, have announced a new partnership with Spike Technology. The immersive training field is in high demand right now, and the agreement is set to push Near-Life into the Belgian and Dutch marketplaces.
VR Anne Frank House experience launched. Vertigo Games have created the experience in association with the Arizona Jewish Historical Society. The 25 minute long in-person interactive installation will allow visitors to see inside the house in which Anne Frank stayed and hid.
VR Football app scores an assist from global star. Martin Odegaard, captain of Arsenal Football Club, was brought on board to help with testing and problem solving for a popular football training app called “Be Your Best”. The VR software, already used by high profile clients, puts players into match scenarios in order to improve vision and decision making.
Events to be at
March 14 Online | Insights Live: The Great Debate: Entertainment in the Metaverse – LBE vs Home Entertainment
April 11 Online | Insights Live: Growth of Web3 and Retail
May 09 Online | Insights Live: Human Progress and the “Programmable World”
March 10 Austin | SXSW Conference
March 16 Paris | Virtuality Web3 Summit
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Our best wishes for a productive day. Please send any news, comments and your thoughts on meta’s future plans to team@aixr.org.
March 06 2023 Edition - Issue 9