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| Hey Insiders —
🗞️ Today's issue features digital twins technology getting traction in BFSI, a dive into Paradox Interactive's annual revenue, The Sandbox unlocking ~$133M worth of tokens, and more.
⏬ Scroll down for some Quick Hits and our Upcoming Events section.
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| 1 | | Digital twin technology is gaining traction in the banking and financial sectors. Altair's global survey of over 2,000 professionals across 10 countries reveals that the banking, financial services, and insurance (BFSI) sector is among the top adopters, using it for security, fraud detection, behavioral prediction, and more. More: - According to Altair's global survey, 71% of BFSI respondents indicated their organizations utilize digital twin technology, second only to the automotive and heavy equipment sectors.
- 97% of BFSI respondents leveraging digital twin technology deem it "important" to their organization, with 71% rating it as "very important."
- 93% of BFSI respondents using digital twins believe it aids in creating more sustainable financial products and processes.
- BFSI professionals who are "highly knowledgeable about digital twin technology" stand at 64%, 14 points above the overall survey average of 50%.
- 83% of BFSI respondents either currently use or plan to use digital twins for sustainability goals, with 56% already implementing the technology.
Zoom Out: - The global digital twin market is projected to reach $48.2B by 2026, growing at a CAGR of 58.1% from 2021.
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What the numbers say: In 2022, Paradox Interactive, a Swedish game publisher, earned SEK1.97B, with most of its income coming from top games like Stellaris, Cities: Skylines, Hearts of Iron IV, Europa Universalis IV, and Crusader Kings II. Relevance: According to Paradox Interactive's financial report for the quarter ending on June 30, the Swedish company reached SEK737.3M ($71.5M) in revenue in Q2 2023, up 61% year-over-year. The company's operating profit was SEK292.9M ($28.4M), up 37% from last year's period. Impact: Paradox Interactive, in collaboration with Paradox Tectonic, has postponed launching their forthcoming game, Life by You. Initially planned for Early Access on Sept. 12, 2023, it's now rescheduled for March 5, 2024, and will be accessible to PC users on both Steam and the Epic Games Store. | | | |
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| 3 | | Metaverse platform The Sandbox has unlocked 332 million SAND tokens, worth approximately $133M, representing 16% of its circulating supply. This scheduled release allows various stakeholders, including the team, advisers, and seed sale participants, to trade their tokens on the open market. More: - Breakdown of unlocked tokens: 71 million for the team, 37.5 million for advisers, 96.8 million for company reserve, 24 million for strategic sale buyers, and 103 million for seed sale participants.
- Token unlocks typically have a bearish impact on digital asset prices due to increased liquidity.
- SAND token's price was approximately $0.45 on July 15.
- SAND's 24-hour trading volume is currently at $106M, per CoinGecko.
- The next scheduled unlock for SAND tokens is on Feb. 14, 2024.
- The Sandbox recently partnered with the British Museum on July 28 to enhance accessibility to museum artifacts for players.
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| 4 | | South Korean metaverse platform Zepeto is venturing into the blockchain realm with its ZTX (ZepetoX) initiative, securing a $13M seed round led by Jump Crypto. Zepeto is Asia's top "Web2" metaverse platform by active user metrics and globally ranks fourth after Roblox, Fortnite, and Minecraft. More: - ZTX aims to enhance crypto adoption by introducing ownership in its 3D worlds with an upcoming launch of the Genesis Home Mint.
- This launch includes 4,000 unique 3D houses sold as NFTs on the Ethereum scaling network, Arbitrum, granting membership to one of its four districts.
- ZTX recently initiated a private beta test and collaborated with Dust Labs on a community-focused initiative named Partner Wearables.
- ZTX's leadership comprises senior professionals from Apple, Roblox, Epic Games, and EA and blockchain experts from platforms like Solana and Cosmos.
Zoom Out: - Zepeto, owned by the Korean tech group Naver and valued at over $1B, has attracted over 400 million users since it launched in 2018.
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| 5 | | Sony has filed a patent for a VR gaming glove controller, aiming for a more immersive experience. This glove uses hand and finger movements to dictate gameplay. More: - Sony's patent application suggests a glove design reminiscent of Nintendo's Power Glove.
- The Power Glove had finger detection and a forearm controller, but Sony's version is more advanced.
- The main goal is for users to forget they're using a controller during their VR experience.
- Sensors in the glove allow in-game movement, though visibility issues remain unaddressed.
- Sony recently launched the inclusivity-focused Access Controller, developed over five years apart from VR.
Zoom Out: | | | |
| 6 | | 7-Eleven is integrating its car-themed advertising into Fortnite, allowing consumers to find branded cars and access a unique "There Car" Island for a virtual car meet. This initiative bridges the metaverse with social media, offering prizes for sharing photos on platforms like Instagram. More: - 7-Eleven's Fortnite scavenger hunt blends its social media presence and gaming to attract younger consumers.
- The campaign also promotes 7-Eleven's delivery service, often targeted at gamers.
- "There Car" Island showcases a custom 7-Eleven store and gas station.
- Posting a photo at a designated spot on the island can win users $500 in 7Now Delivery credits and weekly fuel discounts.
- This activation follows the launch of 7-Eleven's retail media network and a previous campaign in Rocket League.
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| 7 | | QUICK HITS - The AWS Cookbook — packed with practical insights and hands-on examples — is a must-have for your cloud toolkit.*
- Samsung's alleged AR headset leaked online with new images and detailed specifications.
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Term of the Day Rule of 40: Rule of 40 is a metric that analyzes the balance between the growth and profitability of a SaaS organization. Question of the Week Do you share details about your salary with your coworkers? Join the conversation |
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