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🗞️ Today's issue features the metaverse being valued at $900B by 2030, a dive into the global gaming penetration, VR expanding into the job training field, and more.
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| 1 | | The metaverse is projected to be a $900B industry by 2030, yet it might remain in its nascent phase for another 5-10 years, per a Bain & Company report. Virtual experiences are predicted to constitute 65% of the metaverse market in 2030, surpassing other sectors like app stores and operating systems. More: - The remaining 35% is predicted to be divided among the foundational technologies.
- Despite the reduced hype around virtual worlds, the metaverse remains a significant potential force, especially with the rise of generative AI.
- The metaverse will likely comprise multiple platforms, some with vast current user bases and others with smaller, more immersive environments.
- Virtual experiences, especially in gaming platforms like Roblox and Fortnite, are the primary consumer applications of metaverse technologies.
- The metaverse offers potential applications in digital marketing, employee training, education, healthcare, and business collaboration.
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| 2 | | 
What the numbers say: In a 2022 third-quarter survey, 81.9% of internet users indicated playing video games on some device. The Philippines led the pack with a staggering 95.8% gaming engagement, while Indonesia closely followed at 94.8% of users aged 16 to 64 playing video games online. Relevance: In the initial half of 2023, the gaming industry in the Philippines reported a GGR of Php136.4B, equivalent to $2.42 B. The Philippine Amusement and Gaming Corp (Pagcor) generated Php16B (~$293M) in 2022 from its 41 physical casinos, contributing to the country's gross gaming revenues of 214B pesos (~$3.9B). Impact: In partnership with ONE Esports, Samsung Electronics recently disclosed findings from their Southeast Asia and Oceania (SEAO) Gaming Insight Survey, indicating that 70% of the region's online population are gamers. | | | |
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| 3 | | VR revolutionizes job training, offering immersive experiences that closely replicate real-world scenarios, enhancing retention and decision-making. After its implementation, Walmart, an early adopter of VR training, reported a 5-10% improvement in employee test scores. More: - A professor at the University of Maryland believes that as VR becomes more accurate, it will be virtually indistinguishable from real-world learning.
- VR training engages multiple senses, creating a multimodal learning experience that aids information retention.
- Studies indicate better recall and movement post-VR training, suggesting a more holistic learning experience.
- Employers favor VR as it allows for specific task training, including scenarios challenging to teach on traditional screens.
- Trainees in VR can make mistakes without real-world consequences, offering risk-free practice opportunities.
- Interpersonal skills can also be honed in VR, with scenarios involving multiple trainees or unique patient interactions.
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| 4 | | The metaverse is at risk of cyberterrorism abuse, warns a University of Haifa study. As it develops, the metaverse's potential security threats are escalating, with major tech companies heavily investing in its growth. More: - Prof. Gabriel Weimann and Roy Dimant highlight the metaverse's cyberterrorism risks and suggest preventative measures.
- Over the past 25 years, terrorists have innovated in adopting and abusing emerging platforms.
- Weimann expresses concerns about terrorists using the metaverse for training, radicalization, and incitement.
- Proposed security measures include public-private cooperation, system redesign, law enforcement monitoring, and user education.
- By 2026, Gartner predicts 25% of people will spend at least an hour daily in the metaverse for various activities.
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| 5 | | Futureverse and Outlier Ventures have launched the Futureverse Base Camp Accelerator Program, targeting AI and metaverse startups. This comes after Futureverse secured $54M to establish an open metaverse ecosystem, with 10T Holdings leading the investment. More: - The accelerator aims to back startups building on The Root Network, a decentralized blockchain network tailored for metaverse applications.
- Chosen teams will undergo a 12-week virtual program offering mentorship, education, and $100,000 in funding.
- The application window will conclude in early December 2023, with the program set to start in January 2024.
- The Futureverse Base Camp is a joint venture between Futureverse and Outlier Ventures, funded by Born Ready, a $50M venture fund.
- Outlier Ventures, a partner in the accelerator, has a history of accelerating Web3 startups since 2019, boasting a portfolio of 250 startups worldwide.
Zoom Out: - Last month, Futureverse raised $54M in a round led by VC firm 10T Holdings, with XRP Ledger creator Ripple Labs also participating.
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| 6 | | Metaverse platform Sandbox transferred 60 million SAND tokens ahead of a significant unlock event on Monday, which will release $133M worth of tokens. This move comes as the SAND token has experienced a decline this month. More: - SAND's 24-hour trading volume is currently at $74.9M, according to CoinGecko.
- On Monday, 332M SAND tokens, valued at $133M, are set to be unlocked.
- This unlock will release over 16% of the circulating supply of SAND tokens.
- The recent transfer and the impending unlock have contributed to the SAND token's decline in value this month.
- Sandbox is a prominent player in the metaverse, and such token movements have significant implications for its ecosystem and investors.
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- The future breakthrough in VR may not lie in enhanced visuals or sound but in experiences enriched by tangible elements or movements that blur the line between virtual and actual reality.
- The hologram experience is distinct, with unique features that differentiate it from traditional communication techniques.
- In July, crypto gaming investments soared to $297M, while metaverse NFT sales declined sharply.
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