 Immerse partnered with VirtualSpeech for immersive training solutions. VirtualSpeech’s immersive training platform and ChatGPT capabilities will be distributed to businesses via Immerse’s marketplace, which features over 120 immersive training solutions from 25 partners. More: - Immerse’s marketplace features solutions from partners such as Bodyswaps, FreeRangeXR, and Hard Hat VR.
- It supports the Meta Quest 2 and Pico Neo 3 headsets.
- With ChatGPT, VirtualSpeech’s clients can create VR training scenarios that are more realistic and interactive for learners than pre-determined immersive training scenarios.
- The Immerse Marketplace provides a revenue-sharing program for creators.
- The platform offers anonymized distribution, making it easier for businesses to deploy VR training apps to their employees.
Zoom Out: - The global virtual reality market is expected to reach $87B by 2030, growing at a CAGR of 13.8% from 2023 to 2030, according to a new study by Grand View Research, Inc.
xrtoday 
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What the numbers say: In a survey conducted by Morning Consult in June 2022, 43% of U.S. adults said they had no knowledge of the metaverse, while 21% had little knowledge, and 10% had a lot of awareness, with 27% having some. Relevance: Media companies are showing interest in the metaverse due to the familiarity of younger consumers; however, most of these companies have not invested heavily in this space, given the relatively high level of unfamiliarity among U.S. consumers. A survey by Roblox on Gen Z in the U.S. between 14-24 found that 70% say that they dress their avatars similarly to their in-real-life (IRL) selves, and roughly 75% say that they plan on spending money on digital fashion. Which brands should care: The impact of the metaverse will be seen in various industries, such as gaming, entertainment, advertising, and retail, among others. For now, entertainment is the biggest draw to platforms that power the metaverse.
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Alibaba Cloud has developed a launch pad called Cloudverse on the Avalanche blockchain, providing a platform for businesses to create and manage their metaverse spaces. Avalanche will supply the technology for building metaverse environments, while Alibaba Cloud will offer computing and storage solutions. More: - Cloudverse, built by Alibaba Cloud, is a launch pad for businesses to deploy metaverse spaces on the Avalanche blockchain.
- The platform allows companies to customize and maintain their metaverse environments, exploring new ways to engage with customers.
- Avalanche provides the technology for building metaverse spaces, while Alibaba Cloud offers computing and storage capabilities.
- This collaboration marks Alibaba's second partnership with a blockchain network in under a month.
- The initial announcement had a negligible effect on the price of Avalanche's native token, AVAX.
Zoom Out: - This collaboration marks Alibaba's second partnership with a blockchain network in under a month, as it recently joined forces with Mysten Labs.
coindesk
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Henan Cultural Tourism Investment Group, a state-owned investment enterprise in China's Henan province, has set up a 150M yuan ($21.7M) private equity investment fund to finance metaverse ventures. Henan aims to expand its metaverse industry to 30B yuan by 2025. More: - Henan province aims to develop internationally competitive digital industrial clusters by boosting the VR and metaverse sectors.
- Shanghai has a similar strategy, targeting 350B yuan in metaverse revenue by 2025.
- China has banned cryptocurrency transactions but has shown enthusiasm for metaverse expansion, with several cities and provinces involved.
Zoom Out: forkast
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Companies entering the metaverse will have to prioritize digital social responsibility (DSR) to address challenges related to targeting children, addiction, and harassment. The monthly active metaverse users surpassed 500 million in Q1 2023, with gaming platforms like Fortnite and Roblox attracting a significant user base. More: - The metaverse must navigate challenges such as targeting young users, gaming addiction, and amplified social media issues.
- Companies like Walmart, PacSun, H&M, and BMW are already entering the metaverse with virtual experiences and industrial applications.
- Metaverse strategies demand immersive experiences and selling digital assets, requiring companies to take responsibility for user experiences.
- Businesses should collaborate with metaverse platforms, advocate for user protection, establish industry-wide standards, and develop compliance capabilities.
Zoom Out: - A recent survey by Wunderman Thompson, New Realities: Into the Metaverse and Beyond, found that almost 62% of people believe virtual worlds lack inclusivity.
fortune
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Quick Hits: - The company behind these surgical robots is planning to list on Nasdaq. Last day to fund your investment is on 5/10.*
- Mercedes-Benz Group AG partnered with NavVis, a leading provider of reality capture and digital factory solutions, to advance the process of digitization of the production network and to be able to interact worldwide.
- The trademark application for the world-renowned Burberry check pattern was denied by EUIPO for virtual clothing, accessories, and other services for the metaverse.
- Meta's VR social platform is getting a new feature to help you show off what a fun time you’re having in the metaverse with all your Instagram and Facebook followers.
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 |  | Vildana is a writer at Inside.com, covering Wellness, Metaverse, and Wine & Spirits news. Besides English, she is also fluent in German. You can reach her at vildana@inside.com and follow her on Twitter. |   | | 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 and 1972 Fords. | |
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