Meta Platforms Inc. announced it raised $10B in its first-ever bond offering. The funds will help the cash-strapped company repurchase its stocks and invest in metaverse construction. More: - Unlike many prominent tech companies, Meta is not in debt.
- However, earlier this year, the company hemorrhaged $23.6B in cash.
- The bond will help lessen this blow.
- Notably, the company can use the funds to repurchase stocks at a much lower price.
- Meta stocks fell by more than 50% since September.
- In Q2, Meta repurchased $5.1B worth of its stocks.
- There is still $24.3B worth of available stock buybacks.
- The bond sale was overseen by Morgan Stanley, JPMorgan Chase & Co., Bank of America Corp., and Barclays Plc.
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NVIDIA unveiled a suite of new services, software updates, and AI applications to support the burgeoning metaverse. The company debuted its myriad products at this year's SIGGRAPH conference. More: - NVIDIA Avatar Cloud Engine (ACE): supports AI-powered avatars and assistants for enterprise.
- Two ACE sub-projects include NVIDIA's Project Maxine and Project Tokkio.
- Combining video and audio features, Project Maxine allows creatives to operate avatars during collaborative sessions.
- Interactive "Project Tokkio" avatars converse with clients to improve customer relationships.
- Universal Scene Description (USD): NVIDIA is working with Pixar, Adobe, Autodesk, Siemens, and others to improve USD to suit the metaverse better.
- They are working on adding new USD programs to support diverse industries such as architecture, engineering, and manufacturing.
- Omniverse Audio2Face: This AI tool alters an avatar's physical characteristics using audio-based instructions.
- Other announcements include two new SDKs, an updated NeuralVBD library, PhysX improvements, new OmniLive Workflows, Omniverse Machinima, and Omniverse DeepSearch.
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 Snap's Research Team presented a novel method for producing 3D assets for AR. The process allows users to combine different media to render a 3D version of some object. Users can then transform their selected object into an AR asset. The group presented their findings at SIGGRAPH 2022 in Vancouver. More: - The program has been called "Neural Object Capture" and "Rendering from Online Image Collections."
- Provided that the object or person has been photographed from different angles, Snap's latest innovation would allow you to take those images and create 3D assets for AR.
- The method eliminates laborious in-studio photography sessions typically required to create new assets.
- The research marks an essential step toward populating the future metaverse.
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 HTC announced that its virtual production solution, called VIVE Mars CamTrack, is now on sale. The technology is available for studios to purchase in the U.S, Canada, Europe, Japan, China, South Korea, and Taiwan. More: - The CamTrack enables professional studios to develop high-quality virtual production content faster, cheaper, and with more flexibility to enhance efficiency.
- The company also offers FreeD protocol for the virtual production community and AR applications to track data.
- Key technology features include:
- Plug-and-play, compact and lightweight unit,
- portable unit,
- professional-grade features,
- multi-cam tracking, easy-to-use calibration, and more.
- The benefit of using HTC's CamTrack is that it takes complicated workflow and shrinks it into a compact, plug-and-play, modular device that saves cost and improves production efficiency.
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Two Bank of England researchers recently published a blog post warning the public that crypto's widespread adoption in the metaverse could spur "balance sheet losses for households and corporates." In their article, "Cryptoassets, The Metaverse and Systemic Risk," Owen Lock and Teresa Cascino argue that a crypto-fueled metaverse could have real-world consequences. More: - The authors warn that crypto's instability could affect real people, their families, and corporations.
- Therefore, the duo is calling for "robust consumer protection."
- Cascino and Lock are especially wary of widespread crypto adoption in the metaverse.
- They write, "if an open and decentralized metaverse grows, existing risks from crypto-assets may scale to have systemic financial stability consequences."
- While neither claim to know what the metaverse will eventually look like, they are not willing to hedge bets on uncertainty.
- Instead, both believe the Bank of England ought to prepare for various scenarios to protect the nation's "financial stability."
Bloomberg 
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SoFi Technologies launched a Web3-based exchange-traded fund (ETF). The financial institution will utilize the ETF to track the Solactive ARTIS Web3 index for NFTs, metaverse, and AI. More: - The firm will feature projects from companies like Meta, Roblox, Amazon, and Hive.
- Metaverse-related ETFs enable investors to buy stocks traded by fund managers.
- Several ETFs are in the market, including Roundhill Ball, ProShares Metaverse, Subversive, and more.
- Other financial institutions entering this space include HBAR foundation, which recently launched a $250M metaverse fund.
- HSBC holdings also launched a metaverse portfolio for clients in Hong Kong and Singapore.
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- Microsoft unlocked its 3D emoji library to creators. 1,500 of the company's 3D emojis will soon be available on Github and Figma.
- After lobbying in support of the CHIPS Act, the XR Association's CEO lauded its passage, writing, "As the chip shortage continues, this law will support developers' ongoing projects and advance the industry."
- Mapstar Beta allows users to anchor AR assets atop within a traversable, real-world environment.
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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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