Connect with us

Metaverse

Facebook, now Meta, is behind in the metaverse race – Business Insider

Published

on

A leading-edge research firm focused on digital transformation.
Good
Subscriber since
What currently exists in the metaverse realm isn’t much.
Take Decentraland, which launched in 2017 as one of the earliest movers in the metaverse.
Many have compared it to Second Life, a 2000s-era virtual game that has been referenced as an early iteration of the pre-Zuckerberg, hyped-up metaverse. But Insider’s Ben Gilbert went to a rave within Decentraland’s virtual world and concluded that it “felt like a game without anything to do.”
What exists may be somewhat barren and awkward, but early entrants to the space want to be clear: Facebook, now known as Meta in an effort to declare itself a metaverse pioneer, was absent until now. 
But Meta thrust the concept of a metaverse into a broader public discourse last year, much to the dismay of companies that had already been building it. And other major brands like Nike and Gucci started piling on too, making the m-word into one of the most popular buzzwords of the moment.
Gimmick or not, some experts say it is the “inevitable” next iteration of the internet, one that adds spatial experience to our already digitally obsessed society. And while it may eventually become integral to our daily lives, just as the internet and the smartphone has, it’s nowhere close to being so quite yet.
Neither is Meta’s vision for it. And some, not all, investors seem to agree.
A new metaverse-focused ETF is hell-bent on pouring cash into major players in the virtual gold rush, like Nvidia, Microsoft — which just shelled out $68 billion for the gaming giant behind “Call of Duty” — and Roblox.
It specifically doesn’t want to invest in Meta.
“Facebook seems to be the antithesis of what actual consumers want their digital futures to look like,” the fund’s creator, Michael Auerbach, told Bloomberg last month.
“We want to make sure this industry develops, without getting ‘Zucked-up’ from those who see the true potential of this space,” Auerbach’s co-creator, Christian Cooper, said in January.
Then there are, of course, concerns of Facebook’s biggest plagues tainting its metaverse ambitions. Major advertisers told Insider’s Patrick Coffee that they’re wary of establishing a presence within Meta’s metaverse endeavor given the brand safety risks posed by its Newsfeed, where controversial topics can live.
Even the action star behind one of Hollywood’s most prolific examples of the metaverse, Keanu Reeves — who played Neo in “The Matrix” franchise — has said Meta should keep its hands off the metaverse.
As much as Meta wants to declare itself the ultimate pioneer of the metaverse, others are rolling their eyes, having already been dabbling for years.
Input Magazine highlighted that fact in a recent piece about a documentary called “We Met In Reality” — filmed completely inside a VR system called VRChat — about how the technology could coexist with the real world, not supplant it.
The documentary “makes it clear that people are already living in the world Meta’s trying to sell,” writes Input Magazine. “And they’re doing it without abandoning the real, physical world, or inviting unknown levels of corporate oversight.”
Keep reading

source

Metaverse

Meta's losses show the metaverse's costly risk – Insider Intelligence

Published

on

source

Continue Reading

Metaverse

Facebook parent Meta launches startup accelerator with India’s IT ministry in metaverse push – TechCrunch

Published

on

Meta Platforms is looking at India’s burgeoning startup ecosystem as it bolsters its bet on the metaverse. The social juggernaut has partnered with the Indian IT Ministry’s startup hub to launch an accelerator in the country to broaden innovation in emerging technologies, including augmented reality and virtual reality, officials said Tuesday.
MeitY Startup Hub and Meta’s effort, called XR Startup Program, will work with 40 early-stage startups and help them in research and development and developing workable products and services. Each startup will also receive a grant of over $25,000, the American giant said.
The program, supported by Meta’s $50 million XR Programs and Research Fund, will initially hand pick 80 startups to attend a bootcamp. It will also help startups with finding customers, inking relationships and raising funds, Meta said.
Rajeev Chandrasekhar, Minister of State for Electronics & Information Technology and Skill Development and Entrepreneurship, said the program is especially aimed at helping encourage technology innovation in smaller cities and towns.
The XR Startup Program is the latest of Meta’s growing participation in the South Asian market’s upskilling efforts. The firm, whose Facebook and WhatsApp services identify India as their largest market by users, partnered with Central Board of Secondary Education, a government body that oversees education in private and public schools in the country, to launch a certified curriculum on digital safety and online well-being, and augmented reality for students and educators in the country.
The program — to be implemented by four Indian institutions, including IIT Delhi — will also host a “grand challenge” for innovation in categories including education, healthcare, entertainment, agritech, climate action, sustainability and tourism, the American giant said.
“India will play a pivotal role in defining future technologies. Decisions and investments made here in India now shape global discussions on how technology can deliver more economic opportunity and better outcomes for people. It is critical that we help to create an ecosystem that will enable India’s tech startups and innovators to build the foundations of the metaverse,” said Joel Kaplan, VP of Global Policy at Meta, in a statement.
Meta’s interest with working with startups in India is also not newly found. The company has backed three startups in the country, including social commerce platform Meesho and online education group Unacademy.
3 views: Is the metaverse for work or play?

“India’s rapid tech adoption combined with a vast pool of tech talent puts the country in a vantage position for shaping the future of the internet,” said Ajit Mohan, VP and MD of Facebook India, in a statement.
“For this future to be equitable, it will require active participation from all stakeholders, including developers, businesses, creators, policymakers, and entrepreneurs. We are excited to collaborate with MeitY Startup Hub and hope that the XR Startup Program will act as a catalyst to unlock the use of immersive technology across sectors like education, healthcare, agritech and tourism, not only in India but across the globe.”

source

Continue Reading

Metaverse

WHAT IS QUILVIUS (QVUI)? LET'S EXPLORE THIS UPCOMING METAVERSE CRYPTO PROJECT – Asianet Newsable

Published

on

WHAT IS QUILVIUS (QVUI)? LET’S EXPLORE THIS UPCOMING METAVERSE CRYPTO PROJECT  Asianet Newsable
source

Continue Reading

Trending

Copyright © Diaily Meta News