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| Hey Insiders —
🗞️ Today's issue features Utherverse launching a Web3 closed beta, a dive into the leading eSports players in Hong Kong, GU.K. banks shifting away from the metaverse, and more.
⏬ Scroll down for some Quick Hits and our Upcoming Events section.
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Thank you! Vildana
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| 1 | | Utherverse, a metaverse platform with over 50 million users, is set to launch a next-generation Web3 closed beta on Sept. 26. The platform has processed over 32 billion virtual commerce transactions and is known for its photorealistic avatars. More: - The closed beta will be accessible to VIP legacy users and functional NFT (fNFT) holders as a priority.
- The beta version will feature a variety of social and entertainment options, including rooftop dance clubs and art galleries.
- Utherverse owns over 40 patents, half backed by SoftBank/Fortress, covering various virtual world technologies.
- A month-long virtual celebration featuring entertainment and networking events will accompany the beta launch.
- Utherverse has introduced Uther Coin (UTHX) as the in-house currency for all metaverses hosted on its ecosystem.
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| 2 | | 
What the numbers say: As of August 2023, Toyz, whose real name is Lau Kurtis Wai Kin, led the eSports earnings in Hong Kong with an estimated career total of $225,000, primarily from playing League of Legends. He was followed by Ka Tung Lau with about $134,000 and then by Mr. Chung, whose real identity is undisclosed. Most top-earning eSports players in Hong Kong specialize in League of Legends, a real-time strategy game launched in 2009. Relevance: Sponsorships in esports significantly enhance player performance by providing financial backing, recognition, and access to resources, fostering growth in and out of the gaming arena. As the esports sector grows, these sponsorships will become even more pivotal, especially given that most of its audience consists of individuals aged between their teens and thirties. | | | |
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| 3 | | U.K. banking executives are shifting their focus away from the metaverse, with only 38% engaging in metaverse technologies this year compared to 56% last year. The U.S. saw an even more significant drop, from 75% to 36%. More: - Hexaware Mobiquity surveyed 600 senior banking executives in the U.S., U.K., Netherlands, and Australia to assess tech priorities.
- In the Netherlands, the focus on metaverse technologies decreased from 48% last year to 38% this year.
- Australian banking executives maintained a consistent focus on the metaverse, with 55% still engaged.
- Cybersecurity emerged as the top technology focus for 21% of senior bank executives across all surveyed countries.
- Machine learning followed closely, being cited as the top priority by 20% of the executives.
Zoom Out: - McKinsey & Company predicted the metaverse economy could reach $5T by 2030.
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| 4 | | 
A new report from Deloitte indicates that the industrial metaverse is poised to transform the U.S. manufacturing industry. Based on a survey of over 350 senior executives, 92% of manufacturing companies are already experimenting with or implementing metaverse applications. More: - The survey was conducted in May and June, involving senior executives in the U.S. manufacturing sector.
- 92% of respondents are either experimenting with or fully implementing at least one industrial metaverse use case.
- The industrial metaverse is expected to help attract talent and enhance supply chain transparency in the short term.
- However, challenges such as cybersecurity risks concern 72% of respondents, while 51% are worried about the cost of implementation.
- Despite these concerns, the majority believe that the potential value of the industrial metaverse outweighs the associated risks.
Zoom Out: -
By 2025, IDC expects 20% of top global manufacturers to incorporate the industrial metaverse in their digital strategies for enhanced simulation, collaboration, and safety. | | | |
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| 5 | | TerraZero Technologies is launching a subscription-based platform to connect musicians with fans, set to debut in early 2024. Intraverse PRO platform will offer customizable 3D spaces for artists and integrate with blockchain protocols. More: - Intraverse PRO is designed to resemble a professional recording studio, complete with essential components.
- Artists can upload various media types, including photos, documents, and videos.
- The platform will also allow musicians to sell and host their merchandise directly on the Intraverse website.
- Users can personalize their virtual spaces by selecting room colors and decor and incorporating their own album artwork.
- The company recently entered a merger agreement with BIGG Digital Assets and integrated with the Polygon Protocol.
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| 6 | | Meta has expanded its Horizon Worlds platform from VR headsets to mobile and web, starting with a limited early access rollout. The only available experience is Super Rumble, a fast-paced shooter game. More: - The early access version of Horizon Worlds is currently available on Android and web platforms.
- An iOS version of the platform is slated for release in the coming weeks.
- Super Rumble features fast-paced matches that last five minutes and accommodate two to six players.
- Meta plans to add more experiences and worlds to Horizon Worlds in the future.
- The platform is currently available in seven countries: Canada, France, Iceland, Ireland, Spain, the U.K., and the U.S.
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| 7 | | QUICK HITS - Hyperstack: Scale AI projects with NVIDIA GPUs. Enjoy per-minute billing. Secure your H100s & A100s today!*
- In honor of the 40th European Heritage Days, Hennessy offers the public a chance to explore Mobilis, a VR journey highlighting the brand's distinct craftsmanship and legacy.
- According to a report by the Anti-Mafia Investigative Directorate (DIA), the Mafia is showing a growing interest in the metaverse for criminal activities.
- Qualcomm China and Baidu collaborate to advance metaverse technology, even amid waning interest in the field.
- Before launching your next influencer campaign, compare the latest cost metrics to your budget. Get the benchmarks in this blog.*
*This is a sponsored post. | | | |
| Upcoming Events | | SEP
21 | | Join us for pitches, drinks and networking at HanaHaus in Palo Alto on September 21 at 6pm.* | | | | | | | OCT
16 | | Meet Our Fund 5, Building and Investing in AI | | | | | | * This is a sponsored event | | | |
Term of the Day Customer relationship management: Customer relationship management (CRM) is a strategy for managing a company's interactions with its customers or potential customers. Question of the Week Do you share details about your salary with your coworkers? Join the conversation |
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