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| Hey Insiders — Today we're bringing you the latest on youth mental health in the metaverse, Nvidia R&D, Futureverse raising $54M, and more. Let us know which areas you would like us to cover next. Thanks for reading! Vildana
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| 1 | | The Jed Foundation has issued a report highlighting the need to prioritize youth mental health in the metaverse. The report emphasizes the potential risks and benefits of the metaverse on the mental well-being of young people. More: - It states that the metaverse can exacerbate mental health issues such as anxiety, depression, and social isolation if not properly addressed.
- The report recommends collaboration between developers, policymakers, and mental health experts to create safe and inclusive metaverse experiences.
- According to the report, online environments should incorporate mental health support systems and resources accessible to users.
- It suggests implementing age-appropriate content, privacy protections, and moderation tools to mitigate potential harm.
- The report highlights the importance of promoting digital literacy and educating young people about responsible online behavior in the metaverse.
- The Jed Foundation emphasizes the need for ongoing research to better understand the metaverse's impact on mental health.
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What the numbers say: During the 2023 fiscal year, Nvidia allocated $7.34B to research and development (R&D), marking a rise from the $5.27B spent on R&D in 2022 and representing the highest expenditure within the examined time frame. Relevance: Nvidia, founded in April 1993, announced a $26.97B revenue in the 2023 fiscal year, $26.91B in 2022, and $16.67B in 2021. The firm has offices in more than 20 countries, and in 2019, 50% of Nvidia's profits came from Israel. Impact: Microsoft has recently partnered with Nvidia to host the Omniverse Cloud and DGX Cloud, both internet services for creating and managing virtual worlds, on Microsoft's Azure cloud computing platform. This collaboration comes shortly after Microsoft seemingly abandoned its own immersive internet tools for manufacturing companies. | | | |
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| 3 | | Futureverse, a metaverse startup, has raised $54M in a Series A funding round led by 10T Holdings, Ripple Labs, and Bloomberg, signaling growing investor interest in the metaverse space. The funding round was oversubscribed and saw participation from other notable investors, including SoftBank, Sequoia Capital, and Andreessen Horowitz. More: - Futureverse aims to build a decentralized metaverse that offers virtual reality (VR) experiences, digital assets, and social interactions.
- The company plans to leverage blockchain technology to ensure transparency, security, and ownership of assets within the metaverse.
- The metaverse market is projected to reach a value of $280B by 2025, with a compound annual growth rate (CAGR) of 34.8% from 2021 to 2025.
- The investment from players like Ripple Labs and Bloomberg indicates a growing recognition of the potential of the metaverse as a new frontier.
- Futureverse plans to use the funding to expand its team, develop its metaverse platform, and forge partnerships with content creators, brands, and developers.
Zoom Out: - Mordor Intelligence published a report titled "Metaverse Market — Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)."
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| 4 | | Unity Technologies has announced a new beta program that enables developers to create games and applications specifically designed for Apple's Vision Pro headset. The program aims to provide developers with the necessary tools and resources to leverage Unity's engine and build immersive experiences for Apple's augmented reality (AR) device. More: - Unity is a popular game development platform millions of developers use worldwide.
- Its integration with Apple's Vision Pro is expected to open up new possibilities for AR content creation.
- The beta program will offer developers access to specialized Unity plugins and features optimized for Vision Pro, such as advanced rendering capabilities, spatial audio, and gesture recognition.
- Unity's partnership with Apple aligns with the growing trend of major tech companies investing in AR and virtual reality (VR) technologies as the next frontier in computing.
- The Vision Pro headset, powered by Apple's custom silicon, boasts high-resolution displays and advanced sensors to deliver a seamless AR experience.
- By enabling Unity developers to create content for Vision Pro, Apple aims to expand the ecosystem of AR applications available for its headset, enhancing its appeal to consumers and developers alike.
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| 5 | | Apple's Vision Pro headset is set to revolutionize the metaverse experience by moving beyond the confines of traditional VR. Alyse Su, KPMG's metaverse head, highlighted the potential of eye-tracking technology for creating personalized experiences. More: - Unlike traditional VR headsets, Vision Pro's "EyeSight" technology lets users switch between transparent and opaque views, facilitating immersive content consumption and real-world interactions.
- The headset's eye-tracking technology detects users' mental states from their eye movements and pupil responses, using AI to predict emotions.
- Peter Xing, founder of the blockchain-based project Transhuman Coin, commended the headset's design for its natural human interaction and advanced eye-tracking capabilities.
- Apple's Vision Pro can superimpose applications onto the real world, allowing users to interact with digital content as if it's physically present.
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| 6 | | The Italian banking group Sella launched a new Metaverse 4 Finance acceleration program to accelerate innovation and development in the financial services sector within the metaverse. Sella plans to invest €1B (~ $1.18B) in the program over the next five years to position itself as a leading player in the emerging metaverse ecosystem. More: - The program will focus on supporting startups and developers working on blockchain, cryptocurrency, decentralized finance (DeFi), and non-fungible tokens (NFTs) in the metaverse space.
- The company aims to foster collaboration between traditional financial institutions and digital-native companies to drive technological advancements and explore new business models in the metaverse.
- Sella's Metaverse 4 Finance program will provide mentorship, funding, and access to a network of experts, investors, and potential partners to the selected startups and developers.
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