Vision Pro first impressions arrive, OpenAI rivals take $270 million, and Tamagotchi enter Metaverse.

Also this week...the UK government announce first ever AI global safety summit, HYPE Sports Innovation and CBS plan to reinvent sports broadcasting, and IKEA postpone 19-foot AR bag statue launch!

Good morning Metaverse Business Brief readers. Let’s jump into the most relevant news from the immersive world in our weekly roundup.

Top Stories

Apple reveal ‘Vision Pro’ headset at WWDC 2023. As the world’s media gazed at the WWDC 2023 keynote from Apple, the technology giant finally announced their much anticipated headset, dubbed the Apple Vision Pro. The $3500 device is set to arrive in early 2024, with Apple deliberately avoiding the use of accepted industry terminology like VR/AR/MR in favour of the phrase ‘Spatial Computing’ to describe the device.

Hardware spec leaks proven (mostly) correct. The presentation didn’t reveal too much in hardware terms, however leaks previously shared turned out to be largely accurate. The device will notably feature two Micro-OLED HDR capable displays with a resolution of more than 4k per eye, and be powered by a specialised R1 chip alongside the M2 processor that is found in Apple’s range of laptops.

Zuckerberg shares first impressions. The launch of the device sparked much debate and discussion in the immersive tech community. In response to the unveiling, Mark Zuckerberg reportedly told Meta employees that the device didn’t present major breakthroughs that Meta hadn’t “already explored” while insisting that the Quest 2 would be much cheaper and therefore available to a wider user base.

Hands on impressions have been mixed. TechCrunch’s Matt Panzarino praised his initial 30 minute experience, claiming “Apple has delivered nothing less than a genuine leapfrog in capability and execution of XR”. Road to VR’s Ben Lang criticised the price, a lack of controllers and support for top VR games, however he praised the overall hardware, displays, and the ability to capture volumetric memories using onboard cameras. More reports are expected as reviewers get a true hands on experience.

UK government to host first global AI summit. UK Prime Minister Rishi Sunak has announced the first global summit into AI safety, with leaders from key nations, tech companies, and researchers set to come together to agree safety measures to prevent the greatest risks posed by AI technology. The announcement came amidst a meeting between the UK PM and US President Joe Biden on the 7th of June, wherein a new UK-US tech leadership programme was agreed via the Fullbright university scholarship scheme which is set to grow the industry in both nations.

HYPE Sports Innovation announce CBS Sports collab. HYPE Sports Innovation of Tel Aviv, Israel, announced what is being considered a ‘strategic collaboration’ set to revolutionise the field of sports broadcasting, with a shared responsibility for the production of new technology and innovations in the fields of AI, AR and VR agreed between both parties. A call to startups in the space has also been issued by both organisations, as they look to encourage collaboration in order to bring sports fans closer to their respective experiences.

In Funding

AI Startup Cohere raise $270 million. The AI foundation model company raised the funds with notable investment from big names like Nvidia and Oracle. Cohere are in direct competition with the Microsoft backed OpenAI, and confirmation of long time funding rumours for the Toronto startup have now led to valuations is the region of $2.2 billion.

HyperPlay take $12 million. The web3-native game launcher closed a series A funding round co-led by Griffin Gaming Partners and Bitkraft Ventures. The HyperPlay product, established in November 2022, tackles the issue of web3 gaming interoperability and includes the integration of an in-game wallet overlay into it’s launcher, so users don’t need to leave their game and use separate websites for NFT transactions.

Orygen Digital claim share of Wellcome fund. The Australian group aim to provide VR technology in the treatment of youth mental health, and have been awarded a share of a pooled £16.8 million fund from the ‘Wellcome Mental Health Award’. The company aim to use the funding to enable a new trial across multiple Australian states of a tailored VR therapy targeted at improving social cognition in youths with early psychosis.

Keep an eye on

IKEA AR 19-foot bag statue launch postponed. In a move devised to promote the brand’s new platform “The Giving Bag”, IKEA planned to debut a 10-foot statue of the iconic ‘Frakta bag’ in NYC’s Madison Square Park on June 10. The statue, adorned with QR codes for an AR experience, is an early adopter of Adobe’s new Aero Geospatial software. It is now set to debut in Chicago’s Millennium Park on June 17 amidst the ongoing air pollution situation in New York City.

Muhammad Ali VR experience comes to UK. The event, called ‘LockerRoom’, will use archive images and audio to allow users to step into the ‘Rumble in the Jungle’ locker rooms and get a taste of the atmosphere from the moments before Ali and George Foreman’s famous 1974 fight began. ‘LockerRoom’ will debut in over 150 VR headsets across UK ‘cultural venues’ as a promotion for a forthcoming “multi-sensory” experience called the ‘Rumble in the Jungle Rematch’, which comes to London’s Dock X on September 14.

Apple purchase AR headset Startup Mira. A day after the reveal of the aforementioned Vision Pro, the Mira CEO shared news of their acquisition by Apple. Mira are an LA AR startup that manufactures headsets for groups including the US military. Mira’s headsets have also been seen in locations like Nintendo World, where the devices are used on the Mario Kart rides at their Japanese theme park and LA’s Universal Studios. Apple are said to have taken on at least 11 Mira employees as part of the acquisition, but didn’t disclose plans or a purpose for the purchase.

Bandai Namco launch a Metaverse Tamagotchi. The Tamagotchi Uni will be the first to arrive with Wi-fi capabilities, and Bandai Namco have created an accompanying ‘Tamaverse’ in which players can connect online and play competitive mini-games while showing off fashions and collecting special items. The Tamaverse will reimagine a previous online push that produced the TamaTown virtual world, with users being given the ability to access the Tamaverse directly on device. The Uni will land on July 15 in the US for $59.99 before a later global launch.

Events to be at

• June 12 Stuttgart | XR Expo

• June 13 Online | Insights Live: Metaverse vs Web3: A Convergence?

• June 28 Tokyo | XR Fair Tokyo Summer

• July 11 Online | Insights Live: The Importance of Inclusivity and Diversity within the Metaverse

• August 08 Online | Insights Live: How the Metaverse would Transform Education

• October 24-26 Houston | The 10th Augmented Enterprise Summit

• November 30 Rotterdam | The 7th International VR Awards

>>> View the full directory

Our best wishes for a productive day. Please send any news and comments to team@aixr.org.

June 12 2023 Edition - Issue 23