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| 1 | | Epic Games CEO Tim Sweeney took to Twitter to challenge the idea that the metaverse is dead, urging Fortnite, Roblox, and Minecraft players to come together for an "online wake." Sweeney disagreed with the notion that the metaverse was dead due to a lack of business interest, pointing to the large number of people using virtual worlds. More: - Sweeney took to Twitter to disagree with Ed Zitron's article, "RIP Metaverse, we hardly knew ye."
- Zitron, a PR agency CEO, claimed that the metaverse was dead after being abandoned by the business world.
- Epic Games and other corporations, including Microsoft and Meta, founded the Metaverse Standards Forum in 2022.
- Epic Games recently announced a $2B investment to fast-track the company's ambitions for the metaverse.
- Despite Meta's billions in spending, its attempts to draw consumers to its metaverse have largely failed.
- The metaverse market was valued at $66B in 2022 and is projected to reach $937B by 2030.
Zoom Out: - In March, Zuckerberg declared that Meta's "single largest investment is advancing AI and building it into every one of our products."
- The Wall Street Journal reported that the metaverse would change how we work forever.
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What the numbers say: The Oculus Quest app store had 414 apps as of October 2022. However, the Oculus App Lab, launched in February 2021, now offers 1,457 VR headset-compatible apps. In just 20 months, App Lab's app count has tripled the main Quest store's app count. Meta's PC applications count is around 1,350 apps, while SteamVR applications count is around 4,500.
Relevance: The Steam catalog has 3,870 VR-only games and 4,571 games that support VR. Among Steam users who own VR headsets, 52.28% use a Meta's Oculus headset version. The popularity of Steam among gamers and its integration with VR through SteamVR provides an opportunity for developers to create more VR games and experiences for a wider audience. Steam survey data suggests that only 2.3% of users have VR headsets. Where to see the impact: The Steam platform, launched in 2003, now has over 120 million monthly active users and a catalog of over 50,000 games. According to the most recent annual survey conducted by the Game Developers Conference, the PC remains by far the most popular platform among game developers, followed by the PlayStation 5 consoles. The most interesting platform for developers is still the mobile VR headset Meta Quest 2, followed by Sony's Playstation VR 2. | | | |
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| 3 | | Google's holographic Project Starline has shrunk to the size of a TV. Google has reduced the size of its Project Starline glasses-free 3D technology to that of a large TV as it seeks to create a video conferencing system more suited to office use. More: - The technology was originally designed as a room-size installation but has since been downsized to a prototype.
- The array of cameras and depth-sensing equipment on the system's first iteration created a realistic conversation experience where people seemed realistically sized.
- The new design is made to sit on a desk, making the other person in the video chat appear to be sitting across the desk.
- Salesforce, T-Mobile, and WeWork are trialing the technology to create a more realistic and personalized chat experience with realistic eye contact.
Zoom out: - Logitech has recently debuted a lounge-like videoconferencing alcove.
- Cisco launched Cisco TelePresence, an immersive videoconferencing system.
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| 4 | | Turkey's Communications Directorate has launched its first government office in the metaverse, becoming the first public institution to do so. The country is among the early adopters of Web3 and the metaverse in the Middle East and Eastern European region. More: - The Communications Directorate aims to increase representation in relevant platforms by launching its Meta Office, accessible via mobile devices anywhere in the world.
- Turkey's digital transformation strategy, featuring Web3 and metaverse plans, was launched in January 2022.
- In February 2022, Ankara University became Turkey's first higher education institution to offer NFTs courses.
- Turkey's DEVA (Democracy and Progress) party became the first political party to open an office in the metaverse earlier last year.
Zoom Out: - According to Gazete Duvar, 20,000 plots of land have been sold in the virtual universe in Turkey, with Istanbul dominating digital land sales.
- In September 2022, the UAE's Ministry of Economy launched an office in the metaverse.
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| 5 | | Digital twins could create new avenues for cyber attacks unless security is involved when they're created. Digital twins rely on data to accurately represent whatever they model, making them targets for hackers. More: - The global digital twin market was valued at $11.1B in 2022 and will grow to eventually hit $155.83B in 2030, according to Grand View Research.
- Digital twins allow the testing and behavioral analysis of real-world systems, such as aircraft or manufacturing plants, using data from the system itself.
- Security leaders suggest digital twins could present opportunities for new attack types, including the "evil digital twin."
- The risks and dangers surrounding digital twins include technical, privacy, security, and ethical challenges.
- If hackers were to evolve a new attack type, there is a possibility that organizations could not detect it.
Zoom Out: | | | |
| 6 | | WiMi, a holograph AR tech company, is building a holographic super-intelligent network system that will integrate 6G capability with AI. The holographic system is intended to improve urban planning and city management services in smart cities through advanced digital twins. More: - The system will allow for AI analysis of big data and real-time monitoring of city resources through information channels running on 6G.
- The technology could lead to safer deployment of autonomous vehicles and more sustainable city technology.
- The system is based on open-source frameworks, including Kubernetes, to encourage secondary development from other contractors.
- WiMi believes the technology will allow cities to maximize the value of data assets and reduce response times in high-stress situations.
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- The metaverse could contribute as much as $760B or about 2.4% to U.S. annual gross domestic product (GDP) by 2035, according to a study commissioned by Facebook owner Meta Platforms and produced by Deloitte.
- Meta is testing customizable 360-degree backgrounds for your virtual living room, a feature called Custom Skybox View.
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 | Writer | | Vildana is a writer at Inside.com, covering Metaverse and the weekend edition of IDB. You can reach her at vildana@inside.com and follow her on Twitter. | | This newsletter was edited by Aaron Crutchfield | |
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