ChatGPT’s open-source AI model

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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/ ChatGPT creator OpenAI is reportedly releasing an open-source AI model, while its chief calls for AI regulation and warns against election compromise before Congress

This week with ChatGPT in the news:

• The firm behind ChatGPT, seemingly under pressure to do so, is reportedly preparing to publicly release an open-source AI model amid competition such as those leaked from Meta back in February. While OpenAI’s open-source model would likely not be competitive with its flagship ChatGPT product, it’s expected to go head to head with open-source models like those from Stability AI and Databricks’ Dolly 2.0 AI.

• OpenAI CEO Sam Altman tells a Senate panel on Tuesday the use of AI to interfere with election integrity makes him “nervous” and is a "significant area of concern," urging regulation.

• Altman didn’t shy away from addressing ethical questions around AI, saying it could be as big as "the printing press" but acknowledging potential dangers. "I think if this technology goes wrong, it can go quite wrong … we want to be vocal about that. We want to work with the government to prevent that from happening."

2/ Australian ‘Big 4’ bank begins trial for cryptocurrency payment blocks (Link)

Westpac is launching its first trial of scam protection measures built to combat crypto-related fraudulent activities, helping mitigate losses from scams and reducing potential risks.

The ban comes on the day of Binance customers being told they could no longer use PayID to transfer Australian dollars to their accounts, affecting bank transfer withdrawals.

Investment scams, according to the announcement, account for about 50% of all customer losses linked to scams. One-third of all scams involve direct transfers to crypto exchanges, making tracking extremely difficult.

3/ Roblox really wants you to know that it isn’t just for kids (Link)

CEO David Baszucki emphasizes in a blog post that Roblox is not just for kids, highlighting the increasing trend of older users on the popular gaming platform.

Over 55% of Roblox's users are older than 13, with the fastest-growing demographic segment being users between 17 and 24 years old, representing 22% of the player base.

Baszucki notes that the majority of the top 1,000 experiences on Roblox are created by developers older than 17, many of whom aim to cater to older audiences exclusively.

He envisions a future where Roblox becomes a platform for age-appropriate experiences at every life stage, including concerts, digital fashion, immersive games, education, virtual dating, indie movie screenings, as well as news and hot topics.

4/ Quarter of shoppers plan to use AI for fashion choices in the future (Link)

Klarna's study of 5K+ consumers from 5 countries probed shopping habits in 18 years, when Gen Z & millennials essentially took the lead. The results reveal:

• 40% prefer virtual dressing rooms, 10% prefer AR, or 23% will rely on AI to advise clothing choices.

• 81% of Gen Z and 75% millennials anticipate AR to upgrade their in-store shopping experience, with 33% believing it will become a standard in retail stores.

• 52% will prefer physical fashion stores over online (33%) in 2041, while 44% of Gen Z will try their clothes the same way today.

• 70% want the shopping experience to become more personalized in the future, and 42% are sure it will be, both in-store and online.

Across generations, the circular economy should be more prominent in the fashion industry and that sustainability should be a priority.

🏃‍♂️ Quick Hits

🎮 Gaming

• April is a dominant month for web3 gaming: 38% of all crypto transactions were attributed to gaming, surpassing the combined volumes of DeFi and NFTs. (Link)

• The Sandbox and Decentraland, 2 of the biggest metaverse players, lets developers create cross-platform games enjoyed by millions worldwide. (Link)

• Reyu is the 1st playable character NFT to emerge from Random Games’ upcoming Unioverse franchise. (Link)

• Skillprint launches a private beta for its AdaptivePlay AI platform to personalize games. (Link)

• Axie Infinity creator Sky Mavis releases a new mobile app where buying NFTs isn’t required. (Link)

• Drone Racing League sees a record season where streaming views rose by 23% and annual gaming downloads tripled. (Link)

🕶 Fashion

• Fashion brand ACRONYM, founded by Errolson Hugh, steps into the web3 through a collaboration with Republic of Gamers (ROG). (Link)

• Adidas web3 lead talks apparel giant Adidas’ approach to NFTs and emerging culture. (Link)

• Web3 fashion house The Fabricant announces a new VR world to showcase top wearables, teaming up with hyper-realistic metaverse Cornerstone. (Link)

• Brands are turning to AI-powered analytics tools to back up fashion’s green claims. (Link)

• Tech firm Bold Metrics partners with Pact apparel to use its AI platform to lower average return rates and help apparel brands meet sustainability targets. (Link)

🏀 Sports

• Soccer and basketball fans can now enjoy a player’s eye view of the games, thanks to this AI bodycam tech. (Link)

• Top French court backs AI-powered surveillance cameras for Paris Olympics - deemed a blow for privacy activists fighting the measures. (Link)

• This AI-powered fitness assessment targets athletes and sports teams. (Link)

• Data tracking company Sportradar says its use of AI is “helping to detect competition manipulation” amid match fixing concerns in Asia. (Link)

• Netflix still struggles to attract big advertisers without sports, reels from the writers’ strike. (Link)

🎥 Media & Entertainment

• Steve Aoki launches Idol III, a state-of-the-art music player jukebox for web3. (Link)

• Music tech firms Tuned Global and Revelator introduce web3 tools to web2 music streaming, alongside a variety of integrations from digital assets to payment solutions. (Link)

• Swedish House Mafia’s Axwell joins anotherblock’s $4M seed round. (Link)

• What’s up ahead as DeAPlaneta Entertainment acquires MetaGuardians, the 1st collection of metaverse superheroes. (Link)

• Warner Bros. Discovery’s new combined streaming app Max promises shorter ad breaks. (Link)

• Here’s how Warner Music and SG-based Affyn are bringing artists to web3. (Link)

🖼 Art

• Here’s what Gagosian’s AI press release means for art professionals. (Link)

• Ubisoft brings Assassin’s Creed NFTs to web3 for a dreamy blend of physical and digital collectibles. (Link)

• Meta Moina, an NFT gallery for Bangladeshi digital artwork. (Link)

• NFT Show Europe, a major blockchain and digital art conference ahead, invites exhibitors. (Link)

• China’s top prosecution agency issues warnings about NFTs and their crypto-like attributes. (Link)

• Rare Marilyn Monroe prints as NFTs, anyone? (Link)

• NFTproX combines NFT investing and cloud mining. (Link)

🤖 AI

• France's watchdog CNIL unveils AI plan, targeting OpenAI's ChatGPT and generative AI. (Link)

• Wendy’s tests robotic food delivery via tunnels. (Link)

• Audio journalism app Curio uses AI to generate tailored episodes. (Link)

• Shell is set to use AI to boost deep sea oil output. (Link)

• AI puts humanity in peril in the 1st trailer of Gareth Edwards' The Creator. (Link)

• StableStudio is Stability AI’s latest commitment to open-source AI. (Link)

💸 Funding & Partnerships

• Epic Games & LEGO partner for a family-friendly metaverse. (Link)

• Hippocratic Health raises $50M seed funding to build an AI model. (Link)

• Incentivio bags $10M for AI-driven guest recapture. (Link)

• AirStack raises over $7M for an AI-backed web3 developer platform. (Link)

• New TwinUp metaverse software for architects secures $3M seed investment. (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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