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| Hey Insiders! 🗞️ Today's issue features a study revealing only 8% of people are familiar with Web3, a dive into the eSports market revenue worldwide, Abu Dhabi introducing VR tours, and more. ⏬ Scroll down for some Quick Hits and our Upcoming Events section. 💬 Your thoughts matter to us — don't hesitate to hit reply and share your feedback! If you find this newsletter useful, please share it with your friends and colleagues. Thank you. Vildana
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| 1 | | Despite 92% of people understanding crypto, only 8% are familiar with Web3, according to research by YouGov and Consensys. The crypto industry has experienced significant events in 2021, including Dogecoin's rise to $88B and Bitcoin's peak at $68,000. More: - The YouGov and Consensys study revealed that 79% of individuals desire control over their online identity, while 83% prioritize data privacy.
- 67% believe they should possess what they create.
- Facebook's rebrand to Meta indicates its focus on the metaverse, blending real and virtual worlds.
- Meta's Reality Labs, which runs the metaverse, reported a loss of $13.7B on $2.2B in revenue in 2022.
- Bitcoin's value remains 55% below its peak, reflecting the crypto sector's challenges.
- Interest in Bitcoin has waned, with metaverse coins dropping by an average of 92%.
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What the numbers say: In 2022, the worldwide eSports market stood at roughly $1.38B, game data firm Newzoo revealed. It's predicted to rise to nearly $1.87B by 2025. Relevence: "eSports" refers to local or global video game tournaments where both pro and novice gamers battle. As one of the global economic giants, China stands as the premier market for esports. Over the past 10 years, it has established itself as a frontrunner in esports, game creation, publishing, and event coordination. The nation boasts world champions across various games and houses some of the world's most prominent esports enterprises. | | | |
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| 3 | | Abu Dhabi introduces a VR tour of Yas Island, allowing global users to explore its attractions without leaving their homes. This initiative is a collaboration between the Department of Culture and Tourism – Abu Dhabi, Aldar, Miral, twofour54, and Ethara. More: - Super League developed the VR Yas Island experience, which is available on the Roblox platform under "Yas Island Tycoon."
- Digital avatars guide users through key landmarks like SeaWorld Yas Island, Yas Marina Circuit, Etihad Park, and more.
- The experience will evolve with new partnerships and collaborations, ensuring continuous engagement.
- Saeed Al Fazari of DCT Abu Dhabi emphasized the commitment to using innovation to reach wider audiences.
- Taghrid Alsaeed of Miral highlighted the importance of staying relevant in the evolving digital landscape.
Zoom Out: - Virtual tourism is gaining traction globally, with platforms like Google Earth offering virtual tours of world landmarks.
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| 4 | | NVIDIA has released the open-source code for Neuralangelo, a 3D reconstruction tool that uses AI to convert 2D videos into accurate 3D models. Originally launched in June, this tool captures intricate details, addressing challenges other AI tools face in modeling repetitive textures, color variations, and homogenous colors. More: - Neuralangelo, named after the Renaissance sculptor Michelangelo, was introduced with a paper by NVIDIA Research.
- The tool's foundation is similar to NVIDIA's Instant NeRF technology, introduced in 2022, which revolutionized photogrammetric projects.
- Instead of photos, Neuralangelo uses 2D videos of objects captured from various angles, taking frames to create a 3D model basis.
- The AI determines the camera position from selected frames, creating an initial 3D scene representation, which is then optimized for detail.
- Potential applications include art, video game development, robotics, and creating digital twins.
- NVIDIA emphasizes that not only individual objects but entire indoor spaces can be recreated using this tool.
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With over 26,000 global employees, NVIDIA leads in computing innovations through AI and digital twins, addressing unique challenges and spearheading advancements in areas like the metaverse and autonomous machinery. | | | |
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| 5 | | Sandbox VR's most popular experience, "Deadwood Valley," has generated $23M in ticket sales over the past year. The company's rapid growth is evident in its presence in 43 locations globally, including major U.S., European, and Asian cities. More: - Launched in summer 2022, "Deadwood Valley" is Sandbox VR's most cinematic game, focusing on zombie defense.
- This experience alone has surpassed $23M in ticket sales across 30 locations.
- Projections indicate potential lifetime sales of $100M for this experience.
- Sandbox VR recently inaugurated its second in-house gaming studio in Vancouver.
- By 2024, third-party game developers will be allowed to create titles for Sandbox VR's platform.
- Sandbox VR operates in 43 locations worldwide, with 12 of these launched in the last year.
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| 6 | | As the global nursing shortage intensifies, Israeli start-ups are innovating with VR tools to aid nurses and patients, particularly in the U.S. market. The World Health Organization reports that the global nurse deficit, already at 6 million pre-pandemic, is projected to hit 13 million by 2030. More: - The U.S. is anticipated to require over 1 million new nurses by 2030.
- Israeli VR company InceptionXR, founded in 2016, now focuses on preventing hospital-associated infections, a significant issue in the U.S., where 1.7 million people are infected annually, leading to around 100,000 deaths.
- InceptionXR, in partnership with Emory University, has created a VR simulation for nurses to practice infection prevention techniques in a virtual hospital setting.
- Another Israeli VR start-up, GaitBetter, focuses on preventive care, specifically reducing falls in older adults, claiming their system can decrease falls by 50%.
- Despite the potential of VR in healthcare, Israeli companies find it challenging to penetrate the U.S. healthcare market due to its complexity and vastness.
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| 7 | | QUICK HITS:
- Toptal's world-class talent lets you future-proof your business with their experts in blockchain, AI, and software development.*
- Four major shifts are taking place in the world of music related to the metaverse and Web3 technologies.
- IP Australia released its long-awaited trademark classification guidelines for brands in the virtual world.
- A hologram showcased Neymar's face in Riyadh's night sky, then displayed "Neymar is blue," alluding to his new team, Al-Hilal's colors.
- Join the 10 million+ who have transformed their travel adventures with the power of language. Get 55% off Babbel.*
*This is a sponsored post. | | | |
| Upcoming Events | | OCT
10 | | Optimizely is bringing back its annual conference, Opticon, to San Diego! Inside readers get a discount by using the code InsideDeal.* | | | | | | | OCT
16 | | Meet Our Fund 5, Building and Investing in AI | | | | | | * This is a sponsored event | | | |
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