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| 1 | | Apple invited XR media to its WWDC keynote, fueling anticipation for the company's entrance into the XR space. Apple has traditionally not invited XR media outlets to its events or commented on its XR research and development, which has been ongoing behind the scenes for years. More: - Road to VR and UploadVR, two XR media outlets, have received invitations to Apple's WWDC keynote on June 5.
- Apple's entrance into the XR space has long been rumored, and many industry observers believe it could have a significant impact due to its focus on usability.
- Usability has been a challenge for XR adoption.
- There has been much speculation about whether Apple's XR device will prioritize AR, VR, or MR experiences.
- The details of Apple's plans for XR will be revealed during the WWDC keynote, generating excitement and anticipation within the XR community.
Zoom Out: - In February, Bloomberg reported that Apple planned to unveil the headset at the annual WWDC23 event.
- A report by The Information details the reasons behind the significant delay of Apple's forthcoming AR/VR headset.
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What the numbers say: A study by Sortlist, which involved 200 brands across Europe and the U.S. that had already ventured into metaverse investments, highlights that 17% of the companies considered metaverse projects a priority investment. Additionally, around one-third of the surveyed businesses revealed that their metaverse investments accounted for roughly 10% to 20% of their marketing or innovation budget. These findings highlight the increasing influence of the metaverse in shaping business strategies and resource allocation decisions. Relevance: These findings highlight the increasing influence of the metaverse in shaping business strategies and resource allocation decisions. The convergence of the pandemic's impact and the demand for digital transformation has fueled the interest in the metaverse as a viable business opportunity. Where to see the influence: According to a KPMG survey, 60% of TMT (technology, media, and telecommunications) executives believe that the metaverse has the potential to drive revenue, increase profits, reduce operating expenses, and enhance customer satisfaction by enabling interactive experiences and shifting transactions from physical to virtual. | | | |
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| 3 | | PlayStation VR2 sold nearly 600,000 units in its first six weeks, outperforming its predecessor, Sony reported. This is about 8% higher than the previous generation PS VR sales during the same timeframe. More: - With the headset now available at retailers after an initial exclusive period on Sony's website, likely, the sales have already surpassed the 600,000 mark.
- The company intends to invest more in live service games like Destiny 2 and MLB: The Show to allocate 60% of its PS5 investments to live services.
- Sony also revealed its plans for the future, aiming for a 50-50 split between investments in established franchises and new intellectual properties (IPs).
- Sony anticipates the PS5 to surpass the PS4 in key metrics soon, with more monthly active users and more hours played on the newer console by February 2024.
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Sony recently reported its second consecutive successful quarter, selling 6.3 million PS5s (compared to 2 million last year), totaling 19.1 million for fiscal year 2022 and 38.4 million since late 2020. | | | |
| 4 | | Looking Glass has unveiled Looking Glass Liteforms, a platform that features "conversational" holographic characters that can engage in natural conversations with users using AI chatbot technology. The technology offers various use cases, including retail, out-of-home advertising, location-based entertainment, and individual use. More: - Liteform technology will be available through a subscription model and a basic subscription for access to pre-designed characters.
- Pricing details will be announced later this summer.
- Looking Glass' holographic display technology has been well-received, with previous products like Looking Glass Portrait offering desktop holographic displays.
- The Brooklyn-based company will reveal more about the characters at the AWE event in early June.
Zoom Out: - In March, Looking Glass teased cartoon characters when its co-founder and CEO Shawn Frayne tweeted a video featuring a conversation between himself and a rabbit character.
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| 5 | | China's Nanjing City aims to lead metaverse research and development by introducing the state-backed "Blockchain Technology and Application Innovation Platform of China." The platform will bring together academic institutions and businesses to strengthen metaverse-related research. More: - Nanjing University of Information Science & Technology (NUIST) leads the state-backed initiative, which includes participation from various institutions and blockchain-related companies in China.
- Nanjing is competing with other Chinese cities like Shanghai to become a frontrunner in metaverse development, with a target of generating over 135B yuan ($19.13B) in annual revenues by 2025.
- China recognizes the transformative potential of Web3 technologies, including the metaverse, and aims to utilize it to strengthen real-world industries.
- The establishment of the platform reflects China's dedication to metaverse research and competition in the evolving digital landscape.
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| 6 | | Only 4.2% of South Korean citizens regularly use metaverse services, according to a survey by the Korea Information Society Development Institute. The April survey included 9,941 individuals and found that children and teenagers under 20 accounted for 39.2% of South Korean metaverse users. More: - Approximately 70% of respondents reported using the metaverse for entertainment, mainly in games, while around 8.5% used it for social interactions.
- The survey considered metaverse platforms such as Nintendo's Animal Crossing, Minecraft, and Roblox.
- South Korea defines the "metaverse" as merging virtual and physical reality, enabling interactive experiences and generating value.
- Despite the South Korean government's significant investment in the metaverse, the survey results indicate that local metaverse adoption has not accelerated significantly.
- Google Trends data reveals a gradual decline in interest in the search term "metaverse" over the past year, with a 75% drop in popularity from its peak in October 2022.
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- Bascom Palmer Eye Institute at the University of Miami Miller School of Medicine in Florida introduces VR training in ophthalmology for medical students, allowing them to identify eye conditions in the metaverse.
- Despite notable metaverse failures in China, ongoing government support for big tech companies drives sustained investment, presenting opportunities for fashion brands and retailers to explore.
- The hologram technology market is experiencing global growth, driven by key players such as Lyncee Tec, zSpace, Inc, HoloTech Switzerland AG, and Vision Op.
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