Business as usual for the metaverse

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Metaproof is a media company that covers the business of the metaverse. We keep you informed on how the metaverse and web3 are changing YOUR industry.

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Emerging tech trends like AI, VR, and web3 are disrupting the fashion world at breakneck speeds.

Once a week, the Metaproof team will break down the top stories, feature expert Q&A’s, and serve up the hottest links tracking tech’s impact on the fashion industry.

✨ Top Picks

The Future, today. In just 3 minutes.

1/ Yes, the metaverse is still happening (Link)

While AI continues to hog the headlines and Meta has decided to shift focus from virtual world creation to AI, it’s business as usual for the metaverse, transforming the business landscape and personal experiences worldwide.

Two key indicators:

• NVIDIA's Omniverse Enterprise, powered by GPUs, enables businesses to leverage the metaverse for improved operations through stunning graphics and accelerated AI/ML algorithms. Established companies such as BMW, Ericsson, and Lowes have embraced Omniverse Enterprise to optimize their supply chains, enhance product design, and elevate customer service.

• Asian, MENA, and European regions - with countries such as South Korea, UAE, and El Salvador as frontrunners - maintain higher metaverse adoption rates than the US, mostly due to open attitudes toward new tech and favorable government policies.This month, the South Korean government launched a $48.3M fund to develop and support M&As of startups, helping catapult the metaverse ecosystem.

2/ Apple headset’s capabilities said to ‘far exceed’ those of rival devices (Link)

Apple plans to unveil a mixed reality headset at WWDC 2023, featuring an internal VR screen with AR overlays, and estimated to cost around $3,000 with a potential battery pack.

The headset’s mass production, however, may face delays, pushing the start of manufacturing to September. Apple is reportedly anticipating some production challenges, although specific details remain undisclosed.

The report labels the headset as "experimental" and "unconventional," without clarifying its applications. However, it is assumed to be used for gaming, entertainment and productivity purposes.

FaceTime, Apple Fitness+, and gaming are highlighted as three potential major use cases for the headset, according to reports.

3/ Microsoft, Goldman Sachs, and other big firms back launch of financial blockchain (Link)

Financial giants like Deloitte, S&P Global, and Moody’s come together for the launch of the Canton Network, a blockchain aimed at streamlining financial markets with web3 tech.

With the network’s decentralized infrastructure:

• Transactions become more efficient and link financial systems together for synchronized operations.

• Assets, data, and cash can synchronize freely across apps, thus …

• It enables financial institutions to offer new products to their clients while enhancing efficiency and risk management.

Why this matters: For the first time, financial firms can harness a global blockchain network while still working within regulatory guardrails.

The announcement signals a positive view of blockchain tech and its potential amid a regulatory cloud in the US and the fallout from several crypto-native collapses.

4/ Lufthansa, Eurowings, other travel industry players push forward with web3 (Link)

The recent launch of the Camino Network travel-focused blockchain is setting the tone for legacy travel companies looking toward a web3 future.

Some anticipated web3 integration in the industry:

• Lufthansa Group: Decentralization and tokenization will create opportunities for new business models and relationships, including building more direct, strategic partnerships, improving transparency, creating new revenue streams, and enhancing the customer experience.”

• Eurowings: As the travel industry is one of the largest global industries dealing with large quantities of sensitive data every day, web3 lets providers meet these demands cost-efficiently and with maximum security.

• Other travel companies have employed blockchain-based solutions in their operations, such as Air Canada and Etihad Airways integrating the Winding Tree blockchain for product distribution purposes without the need for third parties.

5/ Watchdog: Roblox violates advertising guidelines for marketing to children under 13 (Link)

US advertising watchdog Children’s Advertising Review Unit (CARU) of BBB National Programmes has found Roblox in violation of the group’s guidelines for responsible advertising to children below age 13.

Roblox came to CARU’s attention through its routine monitoring of child-directed content.

CARU determined that Roblox failed to:

• Inform kids if ads were in Roblox "experiences" or video content.

• Ensure social media influencers targeting children properly labeled their content as advertisements.

CARU's recommendation to Roblox:

• Ads must be clearly identified as such to children with understandable language or audio.

• Monitor endorsers and influencers to clearly and conspicuously disclose their connection to Roblox in a manner understandable to children.

• Establish and enforce new advertising policy and community standards via a monitoring process.

🏃‍♂️ Quick Hits

🎮 Gaming

• Helika teams up with Yuga Labs to bring analytics insights to web3 gaming. (Link)

• AI startup Kinetix offers the Kinetix SDK for free for developers to integrate and monetize a comprehensive library of 1,000+ cloud-based emotes. (Link)

• The Legend of Zelda: Tears of the Kingdom is poised to be one of Nintendo’s biggest games of 2023. (Link)

• How do you infuse AI into web3 gaming? (Link)

• Epic Games shakes things up with a new Fortnite ranked mode in lieu of Arena mode for better matchmaking. (Link)

• From true ownership of in-game assets to decentralization, here’s how web3 gaming is more than just fun and games. (Link)

🕶 Fashion

• Shiseido harnesses tech-powered tools such as virtual make-up try-ons before customers commit to shell out on a new lipstick or eyeshadow ensemble. (Link)

• Bobby Hundreds, early adopter of blogging and web3, marks his streetwear brand’s 20th year and new book. (Link)

• Why is digital fashion platform DRAUP “skipping” the metaverse for now? (Link)

• Cleveland-based product design firm Nottingham Spirk leverages smart tech for clothes making that gets with the times. (Link)

• HK designers Arto Wong and Mountain Yam made their forays into NFT apparel design and have voiced out the need for more sustainable fashion. (Link)

🏀 Sports

• Fan token maker Socios puts Spider-Man and other IPs in front of sports fans. (Link)

• Palmer Luckey, Meta VR offering’s original designer and now founder of defense tech startup Anduril, says Apple's much-rumored rival metaverse headset is "so good." (Link)

• These 3 key areas are where fintech and sports gaming intersect. (Link)

• In integrating sports tech in cricket to engross fans during live matches, we’ve just only scratched the surface. (Link)

• Global 3-on-3 basketball league BIG3 launches 1st ever European game. (Link)

🎥 Media & Entertainment

• The Rocking Uniquehorns (TRU) and MTV partner in the name of mental health in Decentraland. (Link)

• Instagram and Facebook are trying to capitalize on the fear of a TikTok ban in the US to poach influencers. (Link)

• How do Roblox concerts work? (Link)

• Metaverse entertainement can be worth $221.7B, with a strong +32% CAGR. (Link)

• Nutralite stages the metaverse's first cookery show. (Link)

• RIP Bondee: From being all the rage to sinking into irrelevance. (Link)

• In the metaverse, The Voice lets fans compete in virtual music battles and win digital merch. (Link)

🖼 Art

• Why game designer Luc Bernard built a Holocaust museum inside Fortnite. (Link)

• Singapore-based NFT marketplace Mintable celebrates International Mother’s Day with free personalized NFTs just for moms. (Link)

• Jasmine Monsegue, a.k.a. artist Spacebrat, releases her 1st free NFT called Gleam via an open-edition mint. (Link)

• Jack Butcher expands Checks NFTs ecosystem with the physical print-backed Elements collection. (Link)

• NFT lending market surges as BendDAO collateralizes 59 Mutant Ape Yacht Club NFTs, while Blend protocol loans surpass $135M in 2 weeks. (Link)

• Worldcoin launches its mobile wallet app globally and opens a limited mint for the Introducing World App NFT. (Link)

🤖 AI

• Clippy, is that you? Google shows how its Duet AI might soon be able to analyze your work and suggest ways to improve it. (Link)

• AI is expediting astronomical discoveries, helping astronomers tame massive data sets and uncover their secrets. (Link)

• Google, how do I ask your AI the right questions? (Link)

• Irish Times apologizes for hoax AI article about women’s use of fake tan. (Link)

• Google’s Help Me Write feature in Gmail: AI creates an email with just one line prompt. (Link)

• The Singapore military enhances digital defenses with AI. (Link)

💸 Funding & Partnerships

• OpenAI CEO’s crypto project Worldcoin eyes $100M in fresh funding. (Link)

• Tamadoge partners with viral meme coin SpongeBob amid significant gains. (Link)

• Blockworks closes its fundraise with a valuation of $135M. (Link)

• Top UK labs are set to receive new equipment and upgraded facilities from an approximate $128M (£103M) government fund. (Link)

• EarthID awards Innovate UK Smart Grant funding to develop a device-agnostic SSI wallet for fraud prevention. (Link)

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All content on this newsletter is for informational purposes only and does not aim to serve as or replace expert investment advice.

📈 If you are a startup building in the metaverse / web3 ecosystem and are raising capital, please reach out to Sfermion. Sfermion is an investment firm focused on accelerating the emergence of the metaverse 📈

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