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| Today's top stories: - The head of AR software at Meta, Don Box, is stepping down, raising concerns about the company's progress in AR technology.
- Zepeto, developed by Korean tech group Naver, is set to launch a version for Apple's Vision Pro headset.
- India's Shemaroo Entertainment has partnered with The Sandbox to enter the metaverse, leveraging BharatBox.
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| 1 | | The head of AR software at Meta, Don Box, is stepping down, raising concerns about the company's progress in AR technology, Reuters reports. Meta, under CEO Mark Zuckerberg, views AR glasses as vital for its "metaverse" vision, with internal use planned for next year and consumer versions by 2027. More: - The departing executive was key in developing Meta's AR software and strategies.
- Box's background includes significant roles at Microsoft, contributing to the Xbox One OS and core system development.
- This change may impact the progress and direction of Meta's AR initiatives, including future product releases.
- Meta struggled to build custom silicon for its AR/VR products, leading to layoffs in its Reality Labs custom silicon unit FAST last month.
- Box reorganized the 300-person XROS unit into separate teams for each device line, focusing on specialization and efficiency.
Zoom Out: - In 2023, the tech sector experienced over 240,000 job losses, marking a 50% increase from last year and continuing to rise.
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What the numbers say: King was Sweden's top-grossing video gaming company in 2022, generating approximately €598M in net sales. Mojang, renowned for its sandbox game Minecraft, ranked as Sweden's second-largest video game developer, with net sales of €516M, followed by Paradox Interactive. Relevance: In 2023, King, the iconic Candy Crush creator, was recognized by Newsweek as one of the Global Top 100 Most Loved Workplaces and The Sunday Times, featured on its list of Best Places to Work in the U.K. Impact: Candy Crush Saga, launched in 2012, has generated $20B in revenue and is set to release levels up to 15,000, according to King. The game has remained the top-grossing franchise in U.S. app stores for six consecutive years. | | | |
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| 3 | | Zepeto, developed by Korean tech group Naver, is set to launch a version of Zeoeto for Apple's Vision Pro headset, marking a significant step in its expansion into spatial computing. This aligns with Apple's spatial computing concept and builds on Zepeto's success in 3D avatar social gaming, with over 400 million users. More: - The platform boasts over 400 million users, predominantly from younger generations like Gen Z and Gen Alpha.
- Zepeto Studio enables users to design, create, and sell items, fostering a vibrant creator economy.
- Its economic model significantly benefits creators, especially in fashion goods.
- Despite a decline in metaverse interest, South Korean companies like Naver Z continue to invest in this area.
Zoom Out: - In 2021, the South Korean government initiated a "Metaverse Alliance" with over 200 companies and institutions.
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| 4 | | Shemaroo Entertainment has partnered with The Sandbox to enter the metaverse, leveraging BharatBox, a cultural hub in The Sandbox. This collaboration focuses on digital collectibles and NFTs, aiming to blend reel-life entertainment with real-life experiences through iconic Bollywood properties. More: - BharatBox, a cultural metaverse hub in The Sandbox, showcases artists and brands from India's entertainment industry.
- The collaboration aims to provide fans with immersive virtual engagement with beloved Bollywood characters.
- The Sandbox aims to empower global creators and offer new experiences based on true digital ownership.
- BharatBox CEO views the partnership as pivotal in bringing Bollywood to the metaverse and celebrating India's cinematic heritage.
Zoom Out: - PwC India's survey reveals that nearly 70% of top executives plan to integrate the metaverse into their organizational activities, with 63% of actively engaged companies aiming to fully embed it within a year, highlighting its potential benefits and challenges.
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| 5 | | Chinese AR startup Rokid Inc., backed by Temasek Holdings Pte, has raised $112M, reaching a $1B valuation, to expand overseas and focus on AR applications in education. Rokid's new investors include NetDragon Websoft Holdings Ltd, which specializes in online gaming and education, Bloomberg reveals. More: - The company has raised nearly $200M to date, with a strategic shift towards AR in education.
- Rokid expects its overseas revenue to surpass domestic sales by 2024.
- Rokid's founder, Misa Zhu, emphasizes catching up on globalization plans post-pandemic.
- Rokid's expansion reflects a broader trend in tech companies betting on MR hardware.
Zoom Out: - In March 2023, Rokid has announced its next-generation AR glasses with the launch of 'Rokid Max.'
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| 6 | | California-based startup Ocutrx has unveiled the OcuLenz, an AR headset designed to aid those with Advanced Macular Degeneration (AMD), the leading cause of vision loss in adults over 60. The OcuLenz, priced at $6,000, is now available for pre-order and is partially covered by Medicare. More: - Ocutrx, founded in 2015 by Michael and Mitchael Freeman, was inspired by their father's AMD diagnosis.
- The OcuLenz AR headset boasts a wide field of view and advanced pixel manipulation software.
- The company also developed the OR-Bot, a surgical visualization system, to enhance ergonomic efficiency.
- Powered by Qualcomm's Snapdragon XR2 processor, the OcuLenz is set for a Unity SDK release in early 2024.
- The device aims to significantly improve the quality of life for AMD patients through innovative AR technology.
Zoom Out: - AMD affects approximately 11 million people in the U.S. and is projected to double by 2050.
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- Apple is reportedly set to release its Vision Pro MR headset in March 2024, as per Bloomberg's Mark Gurman.
- The FCC has approved using the 6 GHz band for AR/VR headsets, promising super-fast WiFi, nearly four years after Meta, Apple, Google, and Microsoft's application.
- The holographic projectors market is set for significant growth by 2029, as highlighted in StatsNData's recent analysis report.
- Owlchemy Labs, a Google-owned VR studio, announced that both Job Simulator and its sequel, Vacation Simulator, have achieved platinum status with over 1 million units sold each.
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