Meta Q2 earnings: Reality Labs losses top $7.7B year to date
Meanwhile, Meta’s metaverse-building business has racked up around $21 billion in losses since the start of 2022.This post was originally published on this site
‘Extended reality’ to create 860K jobs by 2025: EU Commission
The European Commission has laid out its plans for becoming a “world leader” in Web 4.0 and the Metaverse. This post was originally published on this site
Meta Will Continue to Push Metaverse Investments in 2023 According to Head Of Reality Labs
Meta will continue to invest in VR (virtual reality) tech in 2023, according to statements made by Andrew Bosworth, head of Reality Labs, the metaverse division of the company. While Meta has made some changes and adapted to the current shaky economic atmosphere, Bosworth states that the company is still committed to its metaverse pivot. […]
Chinese Zhejiang Province Aims to Build a $28.7 Billion Metaverse Industry by 2025
Zhejiang, a coastal province of China, has presented a metaverse development plan that seeks to build a metaverse hub in its territory. The plan aims to entice the creation of a $28.7 billion metaverse industry and construct an ecosystem of several companies integrating this tech as part of its operations by 2025. Zhejiang Presents Metaverse […]
Sony Acquires 3D Animation Company Beyond Sports to Offer a Complete Sports Metaverse Experience
Entertainment and electronics giant Sony has recently completed the acquisition of Beyond Sports, a company specializing in using real-world data to produce 3D animation. With this purchase, the company is now reportedly able to offer a full metaverse experience for sports matches, complete with tech from other companies already in its portfolio. Sony’s Beyond Sports […]
Apple Could Be Developing Its Own Metaverse Platform
Tech and communications giant Apple might be developing its own metaverse, recently posting several job offerings in the fields of virtual reality (VR) and augmented reality (AR). One of the job listings calls explicitly for engineers experienced in the development of a “3D mixed-reality world,” for the Technology Development Group, the virtual reality division of […]
Metaverse of Entertainment Expected to Grow to Almost $29 Billion Driven by Consumer Spending by 2026, Study Says
A study from Technavio, a market research firm, has predicted that the area of the metaverse dedicated to entertainment, including virtual concerts, video games, and movies, will grow to $28.92 billion in value from 2021 to 2026. The report states that 33% of this growth will originate in U.S. markets, due to the intersection of […]
Apple job listings and patents hint at foray into ‘3D mixed-reality world’
A “mixed-reality world” by Apple could be fast approaching as recent job openings show the tech giant is hiring a number of engineers with AR and VR experience.This post was originally published on this site
State-Run Chinese Newspaper Economic Daily Warns Against ‘Betting Big’ on the Metaverse
Economic Daily, an economic newspaper run by the Chinese state, has published an article noting problems with investing in the metaverse. The article says that metaverse investments might not be suitable for all regions of the country, comparing the trend to the explosion of new green energies not long ago. Economic Daily Warns of Metaverse […]
Chinese Government Releases VR Research Plan Including Metaverse and Odor Simulation
The Chinese government has presented a plan of action regarding the inclusion of virtual reality (VR) and augmented reality (AR) in the lives of the Chinese people. The plan contemplates research of several technologies, including the development of an open metaverse platform for its citizens and research on odor simulation technology. Chinese Government Includes Odor […]