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| Today's metaverse briefing: - Saudi Arabia is creating the world's first gaming and esports district, surpassing Vatican City in size.
- BlackRhino VR, an XR tech company in Kenya, has launched a new AR platform, MediAR, to empower content creators within the creative economy.
- Metaverse company Improbable has sold its gaming unit, The Multiplayer Group (MPG), to Keywords Studios for ~$97.1M.
Thank you! Vildana
p/vildana-b | |
| 1 | | Saudi Arabia is creating the world's first gaming and esports district, surpassing Vatican City in size. It will feature the largest esports stadium and LED screen, luxury hotels, and entertainment options, aiming to attract 10 million visitors annually. More: - The Qiddiya district caters to esports professionals and gaming enthusiasts of all levels.
- The 500,000-square-meter district will include futuristic hotels and retail spaces.
- The main stadium capacity is 73,000, boasting the world's largest indoor LED screen in esports arenas.
- It will host 25 esports clubs and 30+ video game development companies' regional HQs.
- It is aligned with the National Strategy for Gaming and Esports, which is targeting a global hub status by 2030.
- Saudi Crown Prince MBS invests billions, including the world's largest Six Flags and a $750M water park.
Zoom Out: - Another ambitious Saudi Arabia project is the $500B Neom City.
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| 2 | | 
What the numbers say: As of November 2023, Nate Kou, known as Kreo, was the highest-earning eSports player in Hong Kong. His earnings from his eSports career, mainly in League of Legends, amounted to about $1,244,000. Lau Kurtis Wai Kin came in second place, earning approximately $225,000. Ka Tung Lau was also among the top earners. Relevance: League of Legends, an action real-time strategy game released in 2009, was preferred by many of Hong Kong's elite eSports players. The global eSports market, valued at $1.6B in 2022, is projected to expand to $11.8B by 2032. This forecast is based on a research report by Spherical Insights & Consulting. | | | |
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| 3 | | BlackRhino VR, an XR tech company in Kenya, has launched a new AR platform, MediAR, to empower content creators within the creative economy. This platform is designed to simplify the creation and publication of AR content, using user-friendly, drag-and-drop technology to ease the learning curve associated with coding. More: - MediAR is a cloud-based AR editor and publishing platform.
- BlackRhino VR focuses on job creation, poverty reduction, and overcoming Africa's development challenges.
- MediAR's revenue model includes a pay-per-view service for content creators and brands.
- The platform encourages the development of an Internet economy in Africa.
- BlackRhino VR's goal is to democratize XR technologies for easy access.
Zoom Out: - Despite global demand, finding skilled professionals is a key challenge in Africa's XR industry.
- AR technology is being harnessed to enhance the African tourism experience, offering immersive explorations of the continent's culture, history, and wildlife.
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| 4 | | Metaverse company Improbable has sold its gaming unit, The Multiplayer Group (MPG), to Keywords Studios for ~$97.1M. This sale indicates a potential scaling back of Improbable's gaming investments, focusing instead on its Morpheus technology platform and metaverse development. More: - Improbable's CEO Herman Narula emphasizes the sale doesn't include technology assets; the company remains active in gaming.
- Improbable, a British firm founded in 2012, pivots towards developing its Morpheus technology and metaverse projects.
- Improbable predicts a "tale of two metaverses" in 2024, contrasting decentralized Web3 with centralized platforms.
- In June, Improbable introduced MSquared, a metaverse creation suite, and opened it to developers.
Zoom Out: - In December 2022, Keywords acquired Milan-based PR firm LabCom for an initial €1M and up to 12,412 new shares, contingent on conditions over three years.
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| 5 | | ZTX Web3 platform has partnered with Metaverse Collection to strengthen its presence in Japan's market. ZTX, with millions of Japanese users, is backed by Softbank and collaborates with Fuji TV for a virtual idol audition. More: - Metaverse Collection has a history of successfully introducing Web3 projects like Tezos to Japan.
- Japanese government's supportive stance boosts the adoption of Web3 projects and crypto assets.
- Despite crypto market challenges, ZTX raised $13M in seed funding and saw its token rally over 300%.
- ZTX token has over 5,900 holders and is listed on exchanges like Bybit and Gate.io.
Zoom Out: - In February 2023, Japan launched its "Metaverse Economic Zone" with contributions from significant companies like Mitsubishi, Fujitsu, and Japan Credit Bureau (JCB).
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| 6 | | Metaverse initiative VYUG has raised $370B, aiming to revolutionize virtual experiences by targeting a vast audience of 82B people. VYUG has achieved brand registration in Dubai, with production hubs in Singapore, the U.S., and India. More: - The project integrates virtual reality, augmented reality, and the internet for enhanced virtual interactions.
- Ethical and safety standards are a priority, focusing on employment, education, and entertainment opportunities.
- Aditya Narayan, a renowned Indian singer, envisions VYUG transforming how people experience concerts.
- VYUG is set to redefine human interaction with technology across learning, socializing, and digital thriving.
Zoom Out: - The VYUG Unveiling, featuring VR headsets and opportunities for professional networking in virtual workspaces, occurred on Dec. 16, 2023, at the India Expo Centre.
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