A step toward a future open metaverse

Today we are covering…

🌐 Neal Stephenson’s Lamina1 blockchain launches betanet and web3 hub for creators

🤖 Roundup: AI developments from Chinese firms

🪙 PayPal launches Cryptocurrencies Hub

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Neal Stephenson’s Lamina1 blockchain launches betanet and web3 hub for creators [Link]

Metaverse-focused blockchain Lamina1 - the brainchild of science fiction writer and “father of the metaverse” Neal Stephenson and early Bitcoin investor Peter Vessenes has launched its betanet and hub for creators - a step toward designing the building blocks of a future open metaverse.

What this move accomplishes:

• The betanet blockchain and new Hub for web3 builders and developers will simplify the web3 wallet experience and onboarding process.

• During the betanet period, partners, world builders, validators, and developers can test aspects of the network and tinker with its toolkit - creating the scaffolding for an open metaverse "in a more persistent and stable environment" in the lead-up to its upcoming mainnet launch.

• The betanet is considered an "evolution" of its testnet, which went live in January and had 47K+ participants experience the rising metaverse concept.

The short of it: Users will soon be able to send, receive, and upload digital items like music and 3D objects, using those items to build on-chain experiences in a more stable and realistic environment.

Roundup: AI developments from Chinese firms

• Huawei has recently become the 1st smartphone maker to launch an AI large-scale model, and other smartphone makers such as Xiaomi, Oppo, and Vivo could be following suit. These models could be used to improve the smartness of their products, and Huawei's Celia assistant can now do more than just be a voice assistant. After implementation, Xiaomi, Vivo, and Oppo could also have access to AI and better user experience. No launch dates have been given yet.

• Fourier Intelligence has claimed to develop the world's 1st mass-produced humanoid robot, the GR-1, capable of walking on two legs and carrying a 50kg load. It is capable of walking at 5km an hour. The GR-1 has already been delivered to universities and AI companies for research and development, and its mass production is expected to begin by the end of the year. Other companies like Xiaomi and Tesla are also trying to develop humanoid robots.

PayPal launches Cryptocurrencies Hub [Link]

PayPal has launched its Cryptocurrencies Hub, allowing users to manage Bitcoin and other cryptos through their PayPal accounts, representing a step forward in mainstream crypto adoption and reflecting PayPal'sbid to create an extensive digital financial system.

Key aspects of Cryptocurrencies Hub:

• Versatile crypto usage: Cryptocurrencies Hub offers a range of functionalities, including buying and selling crypto, facilitating payments for purchases through the funds obtained from crypto sales, and conversion between PayPal USD (PYUSD) and various crypto assets.

• Ownership representation: Notably, users will not hold the actual digital Crypto Assets in their account but rather own the equivalent amount of each Crypto Asset. This representation enables users to seamlessly navigate the crypto landscape without the complexities of managing private keys or blockchain addresses.

• Access requirements: While the feature introduces exciting possibilities, not all PayPal users will have immediate access to Cryptocurrencies Hub. The eligibility criteria include having a personal PayPal account with a balance account in good standing. Additionally, mandatory identification verification processes will be conducted to ensure a secure and compliant environment.

• Direct integration: Cryptocurrencies Hub will be directly linked to the user's existing PayPal account, streamlining accessibility by utilizing the user's familiar credentials.

How HR leaders can navigate changing work due to AI [Link]

Executives surveyed in a new IBM report estimate that 40% of their workforce will need to reskill as a result of implementing AI and automation over the next 3 years. This translates to 1.4B of the 3.4B people in the global workforce, per World Bank data.

How should HR leaders not be caught unaware?

• Redesign the work, leading with the operating model. Automating bad processes won’t make them better; instead, go back to the drawing board and analyze how work is done and where bottlenecks or other inefficiencies exist.

• Invest in talent as much as tech. Prepare the workforce for AI and other tech disruption. Take on workforce planning, design, and strategy by defining higher-value work, identifying the critical roles and skills of the future, and managing hiring.

• Put skills at the center of workforce strategy, increasing the overall technical acumen of the workforce. Not everyone will need to learn to code, but instead familiarize themselves with new AI solutions.

• Give jobs more meaning by putting the employee in the driver’s seat. AI can transform the employee experience, automating repetitive tasks, letting people focus on their passion, and freeing up their time for skills development or work-life balance. Engage them in this process.

Quick Hits

🎮 Gaming

• While being console rivals, Microsoft’s Xbox and Sony’s PlayStation have formed an alliance in recent years on cloud-based gaming and AI, fending off competition from Amazon and Google’s cloud gaming services. (Link)

• This 13K sq ft VR gaming space in Birmingham is the largest Sandbox VR venue in the world, complete with a hospitality offering. (Link)

• VR game War Of Being is a sci-fi odyssey set on the fictional surreal planet The Strangeland, inspired by a forthcoming album from the metal band TesseracT. (Link)

• Epic Games teases Fortnite’s Season 4, slated for release on Aug 25, with millions of players eagerly waiting. (Link)

• Virtual realities can entail real-life dangers: How to protect yourself from crime in the metaverse. (Link)

• The BitNile metaverse launches casino game Blackjack in September, counting on the sale of in-world coins required to play the sweepstakes-based game. (Link)

🕶 Fashion

• adidas Originals’ latest NFT project “into the metaverse” is the adidas Superstar, covered in an understated Halo Blue/Core Black/Solar Yellow color scheme. (Link)

• AI platform True Fit and Shopify partner to enhance deliverability to enterprise customers and merchants of all sizes. (Link)

• Nearly 30% of make-up artists are concerned about job displacement and loss of personalization from AI. (Link)

• DRESSX and HIP-HOP AT FIFTY roll out an AR fashion collection with 3 outfits + 2 accessories + a chance to win a prize pack when buying a metalook. (Link)

• Music merch gets the web3 treatment. What can fashion learn? (Link)

• Digital fashion house MNTGE releases textile patches embedded with an NFC chip - why should it matter to wearers? (Link)

🏀 Sports

• Sky Sports Germany taps into the livestream of matches on TikTok as well as LED walls and AR graphics in broadcasts. (Link)

• DribbleBot is a novel robotic system for playing soccer,dribbling in the open on various natural terrains, including sand, gravel, mud, and snow and utilizing onboard sensing and computing. (Link)

• Cristiano Ronaldo co-launches Kickoff by Zuju to redefine fantasy football with a new 2nd-screen fan experience. (Link)

• Upcoming NFT drop: The Boys of Summer by Mitchell F. Chan - a digital game artwork within a generative PFP sports collection of 999 baseball characters that probe contemporary obsession with quantifying self and challenges our understanding of success. (Link)

• It’s high time to understand the challenges and concerns around adopting NFTs in crypto sports betting. (Link)

🎥 Media & Entertainment

• Facebook is discontinuing its Dual Messenger feature. (Link)

• Disney applies for a patent to develop AI conversation tech for virtual world simulators. (Link)

• Nicki Minaj hilariously acts like video game avatars in the NPC livestream trend. (Link)

• The metaverse could be a $900B biz by 2030, even as hype dies down. (Link)

• Artisse releases an AI-powered photography app that allows users to create highly personalized photos quickly and easily. (Link)

• K-pop’s new gen includes aespa, whose members also exist as digital avatars in the metaverse. (Link)

• Blockchain gaming and metaverse platform Affyn mounts a web3 event during Formula One Singapore Grand Prix. (Link)

• Germany launches bigGPT, the country's first AI-driven radio station, with bigLayla as its main personality. (Link)

🖼 Art

• DeGods unveils the world's first “art downgrade” with Season 3. (Link)

• From algorithms to masterpieces: Is AI art the inevitable future of creativity? (Link)

• Coca-Cola introduces the MasterPiece NFT collection on Coinbase's Ethereum network Base, showcasing both emerging and iconic artists. (Link)

• South Asia’s highest exhibition of land art debuts at 12K ft up in the Himalayas. (Link)

• Artist Ilya Shkipin says AI enhanced the components of the upcoming Dungeons & Dragons book. (Link)

• The Lunar Codex art collection is being digitized for transport to the moon. (Link)

🤖 AI

• Asus seeks to enter the AI server market to capitalize on the increasing demand. (Link)

• Brush up on your AI vocab with this updated 2023 AI glossary. (Link)

• PayPal leverages AI to enhance its security, urging collective efforts to combat evolving cyber threats and challenges. (Link)

• 6 free artificial intelligence TED Talks you can watch right now. (Link)

• The Dubai AI and Web3.0 Campus announces the issuance of AI and Web3 licenses to tech companies. (Link)

• Chennai introduces “buddy robot” to teach school children AI, featuring activities like singing, dancing, and playing football. (Link)

💸 Funding & Partnerships

• Hive AI, a software firm specializing in AI-based content moderation, is reportedly seeking a $200M funding round with a potential valuation of $4B. (Link)

• Cambridge-born AI chatbot startup Chai announces $205M valuation after a funding round from angel investors. (Link)

• Chai, an AI chat platform founded in 2020, raises $205M to further their AI services and host a competition with prizes up to $1M. (Link)

• SKT announces a $100M investment in Anthropic, an AI startup founded by ex-OpenAI leaders. (Link)

• US startup ShapesXR raises $8.6M funding for its VR design platform. (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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