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| Today's Metaverse briefing: - The VR market in the U.S. is experiencing a significant downturn, with sales dropping nearly 40% to $664M in 2023.
- Idaho National Laboratory and Idaho State University developed the world's first nuclear reactor digital twin.
- Meta's VR avatars will soon feature tongue movement recognition, enhancing the realism of virtual interactions.
Thank you! Vildana
p/vildana-b | |
| 1 | | The VR market in the U.S. is experiencing a significant downturn, with sales dropping nearly 40% to $664M in 2023, CNBC reports. Despite Meta's massive investment in the metaverse, with billions spent each quarter, its Reality Labs unit has incurred losses of about $25B since early 2022, and the market continues to struggle. More: - The release of Meta's Quest 3 VR headset in October slightly boosted the market during the holiday season.
- Despite Meta's dominance in the U.S. VR market with Quest headsets, the lack of new standalone VR headsets and a breakout app hinders growth.
- Quest 3's AR features aim to encourage developers to create engaging apps and games.
- Apple's entry into the market with its Vision Pro MR headset in 2024 could impact the VR landscape.
- The enterprise market remains a potential growth area for Meta's Quest 3.
Zoom Out: - A comprehensive report on global VR market trends and forecasts, available on Market Research Future, reveals significant insights into the future of VR technology and its adoption across various sectors.
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| 2 | | 
What the numbers say: In 2022, MTG (Modern Times Group), a Swedish video gaming company, reported an annual EBIT (Earnings Before Income and Taxes) of 558M Swedish kronor ($54.9M), an increase from the previous fiscal year's 513M Swedish kronor. Relevance: In 2023, MTG experienced notable developments, including increased shareholder value in the spring and achieving a record Q3. Additionally, MTG acquired 100% ownership of the Indian word games developer PlaySimple in 2021 for $360M after the company reported a 144% rise in revenue. Impact: MTG has acquired several mobile-focused gaming companies in recent years, including InnoGames, Hutch Games for up to $375M, Kongregate for $55M, and Ninja Kiwi for $142M. With 6 million daily active users (DAUs) and 30 million monthly active users (MAUs), MTG reported game revenues of around $514M in 2020, which increased to $135M in the first quarter of 2021." | | | |
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| 3 | | Idaho National Laboratory and Idaho State University developed the world's first nuclear reactor digital twin, a virtual replica of ISU's AGN-201 reactor. This innovation marks a significant advancement in nuclear research and education, leveraging digital technology to enhance safety and efficiency. More: - The AGN-201 digital twin receives real-time data from the physical reactor and utilizes machine learning to predict reactor performance.
- The virtual replica enables MR interaction for monitoring and analysis.
- Digital twins bolster nuclear security and nonproliferation efforts.
- The project involved extensive testing and collaboration between INL and ISU students.
- It was recognized by the National Nuclear Security Administration and the Idaho governor's office.
- AGN-201 reactor, operational since 1965, generates less than five watts of heat and needs no active cooling.
Zoom Out: - In Russia, a digital twin is being created for the BREST-300 reactor. This includes software systems for simulating various aspects of the nuclear fuel cycle and aiding in reactor operation and safety management.
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| 4 | | Meta's VR avatars will soon feature tongue movement recognition, enhancing the realism of virtual interactions. This advancement is part of Meta's ongoing efforts to create more immersive and engaging virtual reality experiences. More: - Meta's latest VR framework tracks tongue movements, aiming to simulate realistic expressions in VR avatars.
- Including tongue reactivity is crucial for authentic depictions of speech and vowel sounds.
- This feature is a significant enhancement to Meta's advanced face-tracking technology.
- Tongue tracking is key to developing Meta's hyper-realistic CODEC avatars.
- While offering immersive experiences, the feature may have unusual or adverse use cases.
Zoom Out: - CNBC reports on how Meta's VR technology is being utilized in medical fields, aiding in training surgeons and treating patients despite high costs.
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| 5 | | Qatar's entry into the metaverse through the "Qatar Adventure" Roblox experience marks a significant step in virtually showcasing its culture and landmarks. This initiative, a collaboration between Q Life and Century Games, is part of Qatar's effort to present its cultural heritage to a global audience. More: - The "Qatar Adventure" experience is available on the Livetopia platform on Roblox until Feb. 8, 2024.
- It features a replica of the Lusail Stadium, the Qatar World Cup 2022 final venue.
- Users can explore the stadium wearing a 'Bisht,' a traditional Qatari cloak, similar to Lionel Messi's attire during the World Cup trophy presentation.
- The experience includes the Katara Towers, showcasing two five-star hotels, a museum, and a traditional clothing store.
Zoom Out: - In conjunction with the FIFA World Cup Qatar 2022, a metaverse community of 3 million users developed a detailed virtual replica of the Lusail Stadium.
- A101 has created a custom-built metaverse platform in Qatar, showcasing Vodafone Qatar's latest offerings in a virtual environment with four themed rooms.
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| 6 | | Ocean Rift, a VR experience, now features an MR update on the Meta Quest, transforming rooms into virtual aquariums. This immersive app, which existed for over a decade, originally debuted as a free Oculus Rift Development Kit 1 demo. More: - Ocean Rift has been accessible on various platforms, including Samsung Gear VR, Oculus (now Meta) Rift, Oculus Go, and Oculus Quest.
- The mixed reality mode enables users to create virtual windows on walls, offering views into diverse ocean environments.
- The app offers different styles for virtual windows, such as Frame, Oval, Cage, and Curved.
- The passthrough view in the app is tinted blue, enhancing the oceanic ambiance.
- Ocean Rift, priced at $10, is available on the Quest Store but lacks mixed reality occlusion on Quest 3.
Zoom Out: - In 2023, VR trends include immersive educational experiences, hyper-realistic VR, and the expansion of social VR platforms.
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- Digital Twin has signed an agreement with the Open Industry 4.0 Alliance, joining the DTC to exchange information and further digitalization and collaboration efforts.
- Digital biomarker company Altoida said that new research from the RADAR-AD consortium shows the promise of using AR-based cognitive assessment for early identification and evaluation of people with Alzheimer's disease.
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