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| Today's metaverse briefing covers the following: - China's VR market experienced a significant downturn in Q3 2023, with VR headset sales dropping nearly 30% year-over-year.
- Zappar introduces an $80 VR headset compatible with iPhones.
- The U.S. Marine Corps is venturing into the metaverse to enhance training, operational efficiency, and logistics management.
And more. Thank you! Vildana
p/vildana-b | |
| 1 | | China's VR market experienced a significant downturn in Q3 2023, with VR headset sales dropping nearly 30% year-over-year. This decline is attributed to consumers' waning interest in current VR offerings and anticipation for more advanced devices and immersive experiences. More: - VR headset sales in China fell to 100,000 units in Q3, marking a 35.5% decrease from Q2 and the lowest quarterly sales of the year.
- Average selling prices of VR headsets rose in Q3, indicating consumer willingness to pay more for higher quality.
- Pico and Goovis, China-based companies, dominated the domestic market, accounting for over 70% of Q3 sales.
- Oculus, a pioneer in the industry, experienced a market share decline due to cheaper alternatives from competitors.
- VR startups raised over $250M in Q3, focusing on content and software development for next-generation hardware.
- Despite the sales slump, analysts see strong fundamentals in the VR market, especially in the enterprise sector.
Zoom Out: - China's VR glasses evolution, starting in 2016 and peaking with standalone devices in 2019, is now stabilizing in 2023 as the industry anticipates Apple's debut MR headset.
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What the numbers say: As of November 2023, Li Xiao Meng, widely recognized as Liooon, was the top-earning female eSports competitor in China and was ranked second globally. The Hearthstone champion amassed approximately $241,510 from participating in eight eSports events. Relevance: The world's highest-earning woman in eSports is Sasha Hostyn, also known by her alias Scarlett, with earnings amounting to over $550,000. In 2018, she was on Forbes' list of the most powerful women in international sports as well as Forbes' 30 under 30 Games category in 2022. Impact: Meanwhile, Zhang Yiping, the foremost male Chinese eSports athlete, reportedly garnered earnings close to $3.9M. | | | |
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| 3 | | The U.K.-based company Zappar has developed an affordable VR headset, Zapbox, compatible with iPhones, aiming to democratize access to immersive, industrially relevant experiences. The Zapbox offers MR experiences by merging virtual and real environments. More: - Zapbox is compatible with iPhone 11 and newer models, broadening its accessibility.
- The headset includes VR controllers, enhancing the interactive experience.
- Zappar has created software demos like block-building, mixed-reality chess, and pool games to showcase Zapbox's capabilities.
- Origin markers in the headset provide a standard reference for shared digital graphics.
- Zapbox's design prioritizes user comfort and environmental awareness.
Zoom Out: - Tencent has announced that it will exclusively sell Meta's more affordable VR glasses in China starting in late 2024, per The Wall Street Journal, following a year-long negotiation.
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| 4 | | The U.S. Marine Corps is venturing into the metaverse to enhance training, operational efficiency, and logistics management, utilizing a simulated environment for real-time monitoring and predictive analytics. This initiative, developed in collaboration with CGI Federal Inc., aims to create digital twins of billions of dollars worth of Corps equipment, offering a high-tech approach to military planning and execution. More: - Marines successfully tested a metaverse pilot, integrating logistics and asset management with virtual replicas of physical assets.
- The metaverse project aims to replicate Corps equipment in a simulated world, enhancing visualization and simulation capabilities.
- The metaverse is being initially tested in logistics, planning, packing, and deploying equipment ranging from MREs to LAV-25s.
- The technology could significantly reduce risks and improve planning, especially in remote or challenging environments.
- Concerns include the durability of metaverse equipment in rough conditions and data security risks.
Zoom Out: - The global military simulation and training market is expected to reach $17.7B by 2025, according to MarketsandMarkets.
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| 5 | | Roblox's latest report reveals the significant impact of virtual fashion trends in the metaverse, emphasizing the role of user-created content and the increasing involvement of real-world fashion brands. The report underscores the potential for future growth and innovation in virtual fashion. More: - The "2023 Digital Expression, Fashion & Beauty Trends Report" also highlights the popularity of purchasing virtual clothing and accessories among the community.
- User-created content plays a crucial role in shaping the virtual fashion landscape.
- The rise of digital influencers and brands in virtual fashion is notable.
- Real-world fashion brands are paying increasing attention to the metaverse.
Zoom Out: - Gucci has developed its presence in Roblox over several years, debuting Gucci Town in May 2022 and introducing the virtual Gucci Garden to commemorate its centennial.
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| 6 | | The University of Utah Health's Therapeutic Games and Apps Lab (The GApp Lab) is revolutionizing healthcare training and patient treatment through VR projects. The lab's collaborative approach, involving faculty and students, has led to the development of nearly 80 VR research projects, including simulations that enhance understanding of patients' social determinants of health. More: - The GApp Lab, a joint venture between the Center for Medical Innovation and the Entertainment Arts and Engineering program, focuses on VR in healthcare.
- A notable VR simulation, "A Day in the Life of Sofia," is designed to educate on the social determinants affecting patients' health.
- The GApp Lab plans to extend this VR simulation to various departments and specialties within healthcare.
- XR tools, including VR and AR, are being explored for applications in nursing, social work, and other healthcare fields.
- The University of Utah Health has initiated the Digital Health Initiative, further integrating technology into healthcare.
Zoom Out: - The global VR in healthcare market is projected to reach $30.40B by 2026, growing at a CAGR of 42.4% from 2021.
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- Uphold, a global Web3 financial platform, is set to enhance IMVU, the world's largest social metaverse, with its fiat-to-crypto solution, Topper, by the end of November.
- Immersion Corp. has filed a second lawsuit against Meta Platforms Inc. for infringing five AR/VR technology patents in their Quest headset, particularly involving haptic feedback technology, Bloomberg Law reports.
- At the Singapore FinTech Festival, Bongbong Marcos promoted tech investment in the Philippines through a prerecorded hologram message en route to the APEC Summit in San Francisco.
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