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| 🌟 Greetings Insiders, 🗞️ Today, we delve into Bain & Company's $900B metaverse forecast, explore Rec Room's peak player count on Steam, and spotlight DARPA's efforts to shield VR users from "cognitive attacks." ⏬ Check out our Quick Hits and be sure to catch the Upcoming Events below. 💬 Your insights matter to us! Don't hesitate to reply and share your thoughts. 🔄 If you find this newsletter useful, please share it with your friends and colleagues. Thank you. Vildana
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| 1 | | The metaverse could reach up to $900B by 2030, despite recent reduced hype, per Bain & Company's research. The report emphasizes the metaverse's significant economic potential for businesses, especially those that engage early. More: - Bain & Company's study is titled "Taking the Hyperbole Out of the Metaverse."
- The metaverse might stay in the seed stage for another 5-10 years.
- Immersive gaming platforms already have hundreds of millions of monthly active users.
- The metaverse is unlikely to be a singular platform; it will consist of multiple independent platforms.
- Different strategies exist, from vertically integrated approaches to those focusing on a single layer of the metaverse tech stack.
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What the numbers say: In September 2023, the online multi-platform game Rec Room recorded around 3,197 peak simultaneous players on Steam, a decrease from 3,699 in the prior month. Relevance: Since its inception in 2016, the virtual social platform Rec Room has garnered 75 million users over its lifetime. Additionally, during the initial quarter, it distributed over $1M to its creators. Rec Room offers a VR space where users can participate in multiplayer activities. While it provides a complete 3D experience with a VR headset, it's also accessible on PlayStation, PC, and mobile devices. | | | |
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| 3 | | The Defense Advanced Research Projects Agency (DARPA) is actively pursuing technology to shield VR/XR devices from "cognitive attacks" that might incapacitate soldiers using these devices. Such threats encompass tactics like information inundation, real-world object insertion, personal network subversion, virtual data injection, and deluging users with deceptive alerts. More: - DARPA's initiative targets external cognitive attack sources.
- "Physical illness" in this context implies device-induced nausea.
- In 2022, Microsoft's HoloLens for the military caused nausea, headaches, and eyestrain.
- The U.S. Army ordered a redesign of these HoloLens headsets.
- The primary goal is to ensure the safety and efficiency of mixed reality systems for military staff.
Zoom Out: - Other nations are also exploring the potential of VR/AR in defense, emphasizing the global importance of this technology.
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| 4 | | Australia launched the Australian Metaverse Advisory Council (AMAC) to bolster the nation's metaverse industry. AMAC defines the metaverse as a blend of digital and physical realities powered by VR, AR, and AI. More: - Angus Stevens, CEO of Start Beyond, is the chair of AMAC and emphasizes its role in representing Australian interests.
- Stevens highlights the importance of industry leaders offering advice as the Australian metaverse sector evolves.
- Founding members include Angus Stevens, Darshini Ayton from Monash University, and Daniel Cariola from Accenture.
- Trent Clews-de Castella, CEO of PHORIA, and Simone Clow, CEO of Zebrar, are also among the founding members.
- Other members: Ben Ferns (Variant3d.com), Oliver Weidlich (Contxtual), Patricia Haueiss (web3 consultant), and Mikaela Jade (Indigital).
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| 5 | | Baidu has unveiled a mini metaverse called Baidu Xiao Universe, where users can interact with Baidu's AI-powered digital human, Du Xiaoxiao. Developed in collaboration with Lingjing Zhiwei, this digital amusement park merges entertainment, social functions, and digital technology. More: - Baidu Xiao Universe is a collaboration with Lingjing Zhiwei.
- The space serves as a digital amusement park.
- Du Xiaoxiao guides visitors through mini tasks and unlocks computing power.
- Users can watch AI-generated music videos within the universe.
- Baidu's MetaStack function allows companies to build metaverse spaces in 40 days.
- Baidu released its ChatGPT-like AI chatbot ERNIE Bot and Du Xiaoxiao as virtual IPs.
Zoom Out: - As of 2020, Baidu has also collaborated with Intel on AI, 5G, data center, and cloud computing infrastructure.
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| 6 | | SK Telecom, a Korean telecom provider, has launched a digital currency named "Stone" for its metaverse platform, Ifland. The currency facilitates purchases of virtual items and event sponsorships. More: - "Stone" can be used to buy virtual items with collectible value.
- SK Telecom aims to draw users by enabling influencers to profit from donations.
- Ifland provides a "free currency" termed "Points," earned by attending events or finishing virtual tasks.
- Alongside "Stone," SK Telecom introduced virtual items tied to NFTs via its NFT marketplace, TopPort.
- SK Telecom has invested in web3 projects, including creating a digital wallet for cryptos.
Zoom Out: - According to McKinsey, more than $120B was spent globally on developing metaverse technology in the first five months of 2022.
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| 7 | | QUICK HITS *This is a sponsored post. | | | |
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