Will the Metaverse need 6G?, LandVault raise $3 million, & Bored Ape wears Gucci.
Will the Metaverse need 6G?, LandVault raise $3 million, & Bored Ape wears Gucci.
This week...Experts predict Metaverse need for 6G, Metaverse Fashion Week reviews mixed, Nick Clegg insists Meta have Metaverse future, and Apple's Reality Pro is VR's 'last hope'.
Good morning Metaverse Business Brief readers. Let’s jump into the most relevant news from the immersive world in our weekly roundup.
Top Stories
Experts predict Metaverse need for 6G. Research firm GlobalData have conducted analysis into the necessary environmental factors that will lead to a mainstream metaverse. Research has suggested that a telecom infrastructure with extremely low latency and strong cybersecurity would be necessary to support the utopian vision of the Metaverse sold by organisations like Meta. This, it is suggested, will come with the rollout of 6G. However, it is also stated that telecom operators have a weak interest in pursuing 6G at this stage.
Metaverse Fashion Week reviews mixed. The second annual event, brought to us again by Decentraland, boasted more than 60 large brands - including premium names like Balenciaga and Adidas. However, despite increased organisational attention some users reported a lack of interaction and consumer interest, with a source from The Verge claiming the only time the experience felt alive was during the brand DKNY’s closing party event.
Nick Clegg insists Meta have Metaverse future. Former Deputy PM of the UK Clegg fulfils the role of head of global affairs for Meta. In an event attended by a handful of reporters, he stepped into Meta’s horizon workrooms to promise that the organisation will commit to the Metaverse as an integral component of the future of computing. Clegg however emphasised that the development of more user friendly experiences was “going to take a while”.
Apple Reality Pro is “last hope for VR”. Trusted Apple analyst Ming Chi-Kuo has issued a rather scathing overview of the predicted launch of Apple’s new AR/VR headset, which has been dubbed the ‘Reality Pro’. Criticism lodged at recent headset sales, including previously reported disappointments like the launch of the Playstation VR2 led Kou to suggest that Apple’s offering will be the last great hope for AR/VR technology as a mainstream consumer option.
In Funding
LandVault raise $3 million. The UK based startup secured the funding to go towards R&D for the Matera project. Landvault suggest their technology will provide a ‘WordPress moment’ that can help clients -currently in the gaming industry- build virtual experiences as easily as websites can be built today.
Cesium announce $1 million funding pool. The funds will be provided as grants for organisations pushing innovation in the 3D ecosystem. Cesium are committed to building an open metaverse, so submissions from a startup background that share this ethos could be subject to receipt of funds ranging from $5,000 to $50,000.
Polyhedra Network hit $15 million pre-Series A funding. The announcement comes hot on the heels of the close of a $10 million round just over a month ago. Polyhedra Network are a startup that provide Web3 Infrastructure, building systems focused on blockchain interoperability, scalability, and privacy.
Keep an eye on
Gucci plan “phygital” strategy for Yuga Labs. Continuing a long partnership between Gucci and Yuga Labs ‘Bored Ape Yacht Club’ brand, the latest release will see Gucci feature in the immersive “Otherside” virtual world and storyline, complete with NFTs. A physical Gucci branded pendant has also been announced, which will be sold for 450 APE, or around $1,800.
American teen masses reject VR. Analysts Piper Sandler unveiled the results of a new survey which looked to poll VR use in the US. Of a sample of 5,600 teens, 29% were found to own a VR device, however weekly use was logged at 14%, while daily use dropped to 4%. When quizzed about forthcoming headsets, 7% said they wished to purchase a headset while 52% claimed they were unsure or uninterested.
UK tech pioneer urges sensible AI conversation. Martha Lane Fox, co founder of lastminute.com, is a trusted voice in the UK tech space. While admitting that some anxieties around AI are genuine and that companies should ‘think carefully’ about how they use it, Lane Fox has stated that we should embrace AI opportunities with the correct frameworks in place.
Meta share new advanced AI model. The “Segment Anything” AI model can detect objects in pictures and videos, even if they weren’t a part of the original training set. This is a huge step for AI, which normally requires training on existing material to detect objects. While developers acknowledge the model is flawed at this stage, it does represent a show of much needed strength from Meta.
Events to be at
April 11 Online | Insights Live: Growth of Web3 and Retail
April 12 Laval & Online | Laval Virtual
May 09 Online | Insights Live: Human Progress and the Programmable World
June 13 Online | Insights Live: Metaverse vs Web3: A Convergence?
November 30 Rotterdam | The 7th International VR Awards
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Our best wishes for a productive day. Please send any news, comments and your thoughts on the need for 6G to team@aixr.org.
April 10 2023 Edition - Issue 14