On Aug. 1, Meta will increase the cost of its Quest 2 headsets by $100. The 128GB HMD will jump from $299 to $399, and the 256GB HMD's price will soon increase from $399 to $499. More: - Meta claims the price increase reflects slowdowns in the supply chain and rising inflation rates.
- To offset a portion of the cost, Meta will include its successful VR game Beat Saber for free.
- Meta purchased Beat Games in 2019.
- The price of refurbished Quest 2s is also increasing.
- Refurbished 128GB headsets will soon cost $349, and the 256GB HMD will cost $429.
- The Quest 2 headset debuted in 2019 for $299.
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 Sony announced that its forthcoming PSVR2 headset will allow users to live-stream, watch content in "cinematic mode," and view their surroundings with pass-through vision. The company did not disclose the device's cost, showcase its user interface, or list compatible gaming titles. More: - PSVR2 users will be able to live-stream their activities using a PS5 camera.
- The device's "cinematic mode" will project a 1080p screen with a 120Hz refresh rate.
- The virtual screen displays whatever is playing on the PS5, including games or movies.
- The PSVR2's "see-through mode" lets users briefly view their surroundings and designate a play area.
- The headset will use cameras to scan the player's surroundings.
- Once in view, the user can customize their play area.
- The HMD will notify users if they venture outside the designated area.
- Sony previously announced that the PSVR2 will include eye-tracking, 4K HDR, a 110-degree FOV, and a panel resolution of 2000 x 2040/eye.
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Earlier today, Apple secured new body-tracking patents for future XR devices. The patents include new methods for "detecting skin-to-skin contact" without cameras. More: - The company patented a "sense circuitry" technology to track hand movements and skin-to-skin contact.
- The program would measure users' movements while donning wearables like watches, rings, or gloves.
- The technology would inform AR/VR applications of particular movements measured via electrode-tracking and sense circuitry technologies.
- The patent includes measurements for two- and one-handed gestures.
- Apple has also patented a VR glove that tracks the forcefulness of gestures.
- The U.S. Patent and Trademark Office granted Apple the patents.
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Metaverse real estate sales are expected to grow to $5B by 2026 at a compound annual growth of 61.74%. Virtual real estate valuations will be based on the location of the digital property and how many users visit the location in the metaverse. More: - Key industry players, including Nike, Meta, and Microsoft, will likely expand marketing opportunities in the virtual real estate segment.
- 41% of the growth will come from U.S and Canada as brands look to expand into the virtual world to promote and advertise their products.
- The value of virtual land is based on the location of the online store. CEO Winston Robson of WeWata explains that the virtual real estate market is infinite, and the valuation is based not on their physical properties but on how many users visit the location in the metaverse.
- Digital land is evaluated based on the location, the constraints of the building, and amenities.
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ByteDance acquired PoliQ, a Chinese virtual social platform that allows users to create their avatars. The deal was finalized last week as TikTok explores virtual reality applications. More: - ByteDance, the owner of TikTok and its Chinese version of the app called Douyin, acquired PoliQ for "tens of millions of yuan," but the exact amount remains undisclosed.
- PoliQ developed a virtual social platform called Vyou that allows users to create their avatars and interact with other users in VR.
- The founder of PoliQ, Ma Jiesi, will take the role of the head of the social department located in Pico.
Zoom out: - Other potential acquisitions in the metaverse include:
- Meta Platforms is rumored to be nearing a purchase of a VR eye-tracking company. AdHawk Microsystems is reportedly working with Moelis & Co in hopes of gaining investment from Meta and other buyers.
- AdHawk is a Canadian-based company that developed the MindLink smart glass technology.
- The company integrated an eye tracking system based on a microelectromechanical system that monitors the user's movement, neurological health, and behavior. The system replaces the need for cameras.
- Microelectromechanical systems allow for better energy efficiency. The Gaze Solution captures the user's movements with one degree of accuracy at 500Hz.
- The cost of these smart glasses is $10,000 for each unit. They're used mostly in R&D practices. Meta will likely use the technology to integrate it within its mixed reality solutions. There are no confirmed dates or final offers made to the firm.
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The metaverse will likely increase the adoption of virtual reality in the coming years. Virtual reality adoption has declined over time. However, the technology will have space to grow in the upcoming metaverse. More: - Meta is introducing Meta accounts that enable users to access the metaverse using Oculus VR headsets.
- CEEK founder and CEO Mary Spio believes that users will need to fully embrace VR hardware to realize the true potential of the metaverse.
- Virtual reality is believed to create full immersion, which includes elements of human nature such as emotion, memories and a sense of presence.
- CEEK is a metaverse platform that enables content creators and fans to connect in VR, and accessibility is required for mass adoption.
- Janine Yorio, CEO of Everyrealm, believes that the metaverse will only include a small element of VR and changes are unlikely to happen in terms of mass adoption.
- Yorio explained that "People trypically game or engage with technology while they are doing something else. That is impossible when using VR headsets, which effectively blocks out the rest of the world and makes the user vulnerable."
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- ImagineAR Inc. is partnering with the NFL's Baltimore Ravens. During the two-year contract, ImagineAR will develop bespoke AR and metaverse campaigns for the NFL team.
- HBO released a House of the "Dragon: DracARys" game in anticipation of the forthcoming "Game of Thrones" prequel "House of Dragons." After downloading, players can hatch and grow a unique AR dragon.
- Pinfinity has partnered with Fandom to create a custom AR experience for ComicCon attendees. Visitors to the annual convention can collect a lanyard and Pinfinity pin that grants owners access to exclusive AR content.
- A SkyQuest Technology survey found that 24% of respondents use AR, and another 26% are considering using the technology.
- Super Coffee, the No. 3 ranked bottled coffee brand in the U.S. behind Starbucks and Dunkin', is replacing the negatives with only positive ingredients.*
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 |  | Courtney Rawlings is an Inside Research Analyst living in Los Angeles, California. She has returned to her hometown of LA after spending several years working at Emory University in Atlanta, Georgia, where she is completing a Ph.D. in Art and Architectural History. While working toward her Ph.D., Courtney has developed an interest in the language and history of the tech industry, especially regarding metaverse technologies, streaming, and podcasting. In fact, she hosted her own podcast Low Culture Boil! You can find her on Twitter: @ckayerawlings Email: courtney@inside.com |  | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford. | |
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