 The cost of operating Meta's Reality Labs far exceeds its revenue. Meta's Mark Zuckerberg told shareholders that ROI might take 10 years. Meta's Reality Labs reported a 30% revenue increase YOY, but operating costs are also up 62% YOY. More: - From Q1 2021 to Q1 2022, earnings at Reality Labs increased 30%, from $534M to $695M.
- But operation costs increased 62%, from $1.83B to $2.96B.
- Meta is spending $2B-$3B/year to build out its vision for the metaverse.
- Reality Labs employs ~17,000 people.
- Responding to a shareholder after the Q1 2022 announcement, Zuckerberg said, "Maybe primarily, this is laying the groundwork for what I expect to be a very exciting 2030s when this is like — when this is sort of more established as the primary computing platform at that point."
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 AppliedVR is partnering with healthcare data company Komodo Health to measure VR's effectiveness in treating chronic pain. The FDA has already approved AppliedVR's RelieVRx system to treat chronic lower back pain. Working alongside Komodo, AppliedVR will engage traditional and novel forms of research to calculate the program's effectiveness. More: - Chronic pain is typically defined as pain that has lasted for three months or longer.
- With Komodo's technology, AppliedVR will be able to use more specific data regarding each test subject's health background — e.g., if they've visited a chiropractor or undergone certain surgeries — to better determine the success of its product in different subgroups.
- AppliedVR has also used synthetic control groups in some of its ongoing tests.
- Internal testing on AppliedVR's efficacy found RelieVRx-users reported a 43% drop in chronic pain.
- AppliedVR has raised $70M so far.
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 Researchers at Carnegie Mellon University's Future Interfaces Group modified a VR headset to experiment with mouth-centered haptics. The group used ultrasonic transducers to simulate various sensations around the user's mouth, tongue, and teeth, such as tapping, pulsing, and swiping. The nascent haptic technology goes beyond the visual to engage more of the body in VR technologies. More: - The immersive tool does not touch the face or lips but is attached to the VR headset.
- The researchers explained this decision: "Consumers do not want to cover their entire face, let alone put something up against (or into) their mouth."
- A video online shows the different bodily sensations they are working on, including kissing, drinking, and smoking.
- At one point in the video, a user is shown experiencing spiders being squished on their face.
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 Snapchat is rolling out new VR, AR, and camera tools. Over the next few months, users can expect a slew of new XR capabilities, including trying on virtual garments and participating in live events virtually. More: - The coming "director mode" comprises numerous new editing tools for creators.
- New AR lens capabilities, greenscreens, and the ability to simultaneously film from a phone's front and back cameras will be part of the new suite of tools.
- Snapchat has also partnered with Live Nation. Snapchat users will soon be able to experience live events in VR, try on merch virtually, and socialize.
- AR "try-on" tech will also be available in the "dress up" section.
- Retailers, brands, and others can access more information concerning VR try-on in Snapchat's open camera kit.
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U.S. Army soliders are unimpressed with training software developed for Microsoft HoloLens devices. As a result, the U.S. Department of Defense's Office of the Inspector General is hesitant to move forward with the ~$22B contract. More: - In 2018, the Army signed a $280M contract with Microsoft to supply 100,000 prototype devices.
- In 2021, Microsoft introduced the Integrated Visual Augmentation System (IVAS) to help soldiers prepare for combat.
- Army leaders worry that the VR training won't be worth the exorbitant cost or that the headsets will not be used as intended.
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The 3D design platform Womp raised $4.7M Seed in a round led by Female Founders Fund and Haystack. Neo Investment Partners and other angel investors also joined the round. The company will use the money to grow its team and improve and introduce new 3D design tools. More: - Founder and CEO Gabriela Truela started Womp in 2017 to ease entry into 3D design.
- Womp users can blend, cut, and merge various shapes to animate 3D designs.
- The resulting content can be shared on and off Womp's platform.
- The company wants to compete with 2D giants like Snapchat, TikTok, Instagram, and Youtube.
- Womp comes in both a free and paid version.
- The paid version gives access to premium features.
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- The British animated comedy Wallace and Gromit is being transformed into a VR game. The game should be available for Meta Quest headsets in 2023.
- In partnership with Neutral Digital, Qatar Airways has launched its metaverse, QVerse. Users interact with MetaHuman-powered cabin crew for an immersive experience.
- So-called "HALOgrams," 60-foot tall holograms of Halo character Master Chief: Spartan 117, have appeared in Sydney, Toronto, Sao Paulo, and Mexico City. Kaleida and Wavemaker helped develop the holograms.
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 |  | Courtney Rawlings is an Inside Research Analyst living in Los Angeles, California. She has returned to her hometown of LA after spending several years working at Emory University in Atlanta, Georgia, where she is completing a Ph.D. in Art and Architectural History. While working toward her Ph.D., Courtney has developed an interest in the language and history of the tech industry, especially regarding metaverse technologies, streaming, and podcasting. In fact, she hosted her own podcast Low Culture Boil! You can find her on Twitter: @ckayerawlings Email: courtney@inside.com |  | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford. | |
Laika is a unified compliance platform that automates workflows for audits, infosec monitoring, and vendor due diligence in a single, collaborative space. | |
Connecteam is the all-In-One Employee Management Software. Time Tracking, Shift Scheduling, Communication, and Much More. | |
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