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| 🌟 Hello Insiders, 🗞️ In today's edition, we explore Microsoft's newly approved patent for AR glasses with a swappable battery, delve into the global download trends of the Meta Quest mobile app from 2018 to 2022, and spotlight the UAE's launch of the "Responsible Metaverse Self-Governance Framework" in partnership with DubaiDET, plus more! 🚀
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Microsoft's recently approved patent reveals a design for AR glasses featuring a swappable battery, enhancing usability and application areas by reducing device weight. The modular design allows the battery to be placed in the temple section or a detachable earpiece, enabling continuous use while a second battery is charged. More: - Microsoft's AR glasses patent was published last week, showcasing a modular design.
- The design allows batteries to be placed in the temple section or a detachable earpiece.
- A smaller, swappable battery reduces weight and extends usability throughout the day.
- Connections allow computing and storage power to be placed away from the glasses.
- The glasses focus on displaying and collecting information for processing.
Zoom Out: - Chinese tech giant Xiaomi has debuted its AR glasses, joining other tech giants like Microsoft and Google in the AR market.
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What the numbers say: From 2018-2020, the Meta Quest app saw a steady rise in global downloads for Meta's VR headsets, doubling in 2021 and hitting 10.43 million downloads in 2022, a 39% increase from the prior year. Relevance: The Oculus Quest 2, launched in October 2020, enables access to VR mobile apps and games, while the Meta Quest Pro, introduced in October 2022, targets the professional market with mixed reality at a premium price. Meta Quest app maintained a consistent rise in downloads throughout 2022, especially in the initial six months, before a $100 price hike for Quest 2 in August. Impact: One of the competitors to the Meta Quest app is the HTC Vive XR Elite, which is often highlighted as a viable alternative due to its comparable features and capabilities in the VR space. Additionally, the Pico 4 from Bytedance, the owner of TikTok, is considered a strong contender against the Quest 2, although its availability is currently limited to the EU, UK, and China. | | | |
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| 3 | | The UAE has launched the "Responsible Metaverse Self-Governance Framework" in collaboration with DubaiDET. This initiative is a part of the UAE's strategy to embrace the rapidly growing metaverse market. More: - The UAE, along with other nations like South Korea, Barbados, China, Singapore, and Norway, is establishing an online presence within the metaverse.
- Dubai's Virtual Assets Regulatory Authority was the first regulator to establish its metaverse headquarters on the Sandbox platform in May 2022.
- The framework is expected to promote user safety and global acceptance through collaborative international efforts and effective self-regulatory measures in the metaverse.
- The principles outlined in the whitepaper are intended to serve as a foundation for further international cooperation in the metaverse.
Zoom Out: - A LinkedIn post by Martin Hayward discussing the whitepaper published by the UAE Office of AI on Responsible Metaverse Self-governance Framework.
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| 4 | | China Daily, guided by the Chinese Communist Party's Publicity Department, has unveiled its metaverse and NFT platform. The newspaper offers ~$390,000 to a third-party contractor to develop the Zhongbao Shuzang NFT issuance platform within three months. More: - The platform will also issue NFT digital collections on foreign platforms like OpenSea, Rarible, and SuperRare.
- Four key elements underpin China Daily's metaverse project, pivotal to its wider initiative.
- Each NFT will undergo a one-month development phase before its online release.
- AR/VR creations are scheduled for promotion within a two-month timeframe.
- The newspaper has set a two-month window to finalize the development and layout of its unique metaverse space.
Zoom Out: - Shanghai, China's financial capital, revealed 20 metaverse use cases it plans to develop by the end of 2025, aiming to boost the real-world economy.
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| 5 | | While the world's hi-tech policy has focused on AI, Total Electronic Immersion (TEI) advances, offering promises and perils, The Hill reveals. The evolution of TEI, from early immersive experiences to a potentially indistinguishable electronic reality, has profound implications for various sectors, including healthcare, entertainment, and military training. More: - The modern video game industry generates ~$200B in sales annually, surpassing the movie industry.
- TEI aims to create electronic experiences nearly indistinguishable from real-world experiences.
- TEI allows trainees to experience every aspect of an actual event, including making mistakes, in a safe, virtual environment.
- Medical authorities have cited the risk of addiction to screen-based online activities, and TEI might elevate this risk.
- While VR has existed in various forms for years, we are entering a new era of all-encompassing digital experiences spanning numerous sectors, necessitating vigilant oversight as they evolve.
Zoom Out: - The U.S. Chamber of Commerce explores how VR is making significant strides in transforming various aspects of healthcare.
- The National Library of Medicine explores VR's significant advantages, such as efficiently presenting virtual prototypes and saving time, money, and effort.
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| 6 | | Global Mofy Metaverse Limited (GMM) has priced its IPO of 1.20 million shares at $5 per share. This move aims to raise total gross proceeds of $6M before deducting underwriting discounts and offering expenses. More: - GMM is a technology solutions provider focused on various digital aspects of the metaverse industry.
- Trading of the Ordinary Shares on The Nasdaq Capital Market commenced on Oct. 10, 2023.
- The shares are trading under the ticker symbol GMM.
- Underwriters have a 45-day option to purchase up to 180,000 Ordinary Shares.
- The additional shares can be purchased at the public offering price, less underwriting discounts.
- The IPO is expected to close on Oct. 12, 2023.
Zoom Out: - According to a report by Acumen Research, the metaverse market could potentially expand to $4T by 2032, considering the current technological advancements.
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- Jadu introduces a new multiplayer mobile fighting game, utilizing AR to merge virtual and physical realms.
- The SophiaVerse project, developed by Hanson Robotics and Cardano ally SingularityNET, forms a partnership with the venerable metaverse, Decentraland (MANA).
- VOXI by Vodafone collaborates with Disturbed Media Group to debut a 3D hologram marketing display in London, highlighting its Unlimited Social Media feature.
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| Upcoming Events | | OCT
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