RIP Meta Quest 1, $1 Billion Crypto Fund & Bill Gates backs AI
This week...Will your workplace be in the Metaverse?, Support dropped for Meta Quest 1 headset and Roblox set to make Quest debut?
Good morning Metaverse Business Brief readers. Let’s jump into the most relevant news from the Immersive world in our weekly roundup.
More Apple mixed reality headset leaks. In this bloomberg piece, it is posed that the device will be the core focus for Apple in 2023, and likely to be unveiled in Spring ahead of the Worldwide Developers Conference. The device is said to already be shared with trusted devs, who are working on third party apps.
Updates to cease for original Meta Quest. In an update email shared by Meta,the company disclosed that the Quest 1 headset will not be served with updates and new features any longer. The device will remain supported with critical bug fixes and security patches until 2024, however many key social features will be lost after March 5th.
BBC provoke Metaverse workplace debate. In a BBC news report, writer Jane Wakefield discusses the potential for the Metaverse to serve as the workplace of the future. The piece poses the question to various thought leaders in the space, with the consensus being that we aren’t likely to see this shift for some time yet - despite significant moves by some organisations.
Roblox ready for Meta Quest?. According to sources, Roblox is scheduled to arrive on Quest in late 2023. The game is already accessible via many existing headsets, however an appearance on Quest is said to be a significant move for Roblox, Meta, and investors in both organisations.
Trezi raise $2 million in series a. The Indian metaverse platform allows for the sharing of architectural models to allow for the connection of architects, building construction engineers, and designers with product manufacturers.
Psychic VR Lab raise $780k. The funds raised by the Japanese arm of Animoca Brands, will be used to develop the Psychic VR Labs Styly product. Styly allows for the creation of VR and MR worlds that can be shared to supported devices.
‘Crypto Winter’ doesn’t halt funding. The blockchain firm Venom Foundation, and Abu Dhabi investment manager Iceberg Capital Ltd have announced a $1 billion crypto venture fund titled the Venom Ventures Fund (VVF). Their first investment is to lead a $20 million funding round for virtual world platform Nümi Metaverse.
Keep an eye on
Bill Gates backs AI, but wary of Metaverse. During a Reddit AMA, the cofounder of microsoft claimed that AI will be a more ‘revolutionary’ technological advance than Web3 or the Metaverse. In particular, the impact of generative AI like ChatGPT stood out to him.
L’Oréal back Digital Village. The organisation’s venture capital fund BOLD joined the British Fashion Council in a $4 million funding round in the French metaverse developer Digital Village. The organisation aim to provide immersive virtual experiences for brands, and the potential impacts on beauty industry retail are high.
Mojo Vision hit shift tech focus. Despite introducing readily tested prototypes, and targeting market readiness in 2025, Mojo Vision have dropped their focus on AR contact lenses in favour of commercialising the microLED technology contained in the lenses. The decision to shift was driven by a lack of investment interest.
Calvin Harris enters the Metaverse. The world renowned Scottish DJ launched ‘The Calvin Harris Experience‘, a virtual concert that took place on Friday 13th January. Backed by Pico and Tiktok, the event is just the latest in a long line of big immersive concerts to occur in the metaverse amidst growing music industry interest.
Events to be at
Jan 17 Online | Insights Live: The Great Debate: What is a Chief Metaverse Officer?
February 14 Online | Insights Live: Art and the Metaverse: From Creation to Market
March 14 Online | Insights Live: The Great Debate: Entertainment in the Metaverse – LBE vs Home Entertainment
Our best wishes for a productive day. Please send any news, comments, and your thoughts on metaverse workplaces to firstname.lastname@example.org.
January 16 2023 Edition - Issue 2
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