You really can’t help but become enthusiastic about the possibility that the metaverse presents as we move closer to a new technological age.
The current technology era thrives on interaction between humans and technology, facilitated by smartphones, which are essentially small displays with processors tucked away in our pockets.
The metaverse is poised to replace this and take its place as the dominant form of technology. And although cell phones have become indispensable to a significant part of the population, the way we engage with them is still somewhat unnatural.
Instead, the metaverse will be defined by humankind’s increased ability to connect with technology more intuitively. Earpods will deliver voice and music directly to our ears, virtual reality (VR) and augmented reality (AR) – or combined extended reality (XR) – devices will allow for visual input directly to our eyes, and voice recognition will make it possible for us to talk and have conversations with the technology that is all around us.
People have become more interested in the metaverse these days, so we created weekly updates about it for everyone interested. The following is a list of the most important metaverse news that took place past week.
The Hong Kong University of Science and Technology (HKUST) announced that they would be throwing a launch party for a virtual reality classroom that would take place on September 1 within the Metaverse. The launch heralds the beginning of HKUST’s aim to encourage immersive learning by constructing a virtual campus in the Metaverse that will be known as MetaHKUST.
For businesses interested in becoming fully paperless and relocating to a more environmentally friendly and cost-effective facility, a South Korean start-up firm is now renting office space in the Metaverse.
In May, Zigbang introduced a virtual office software called Soma. Within this Metaverse, referred to as the “Soma World,” you will find the primary structure for working, a conference center that can hold up to 3,000 people, a networking hub, and the headquarters for Zigbang.
Even though Reality Labs, the VR and metaverse branch of Meta, has just announced its seventh consecutive quarter of losses, the company’s CEO, Mark Zuckerberg, is unwavering in his commitment to continue investing in the technology, which he refers to as a “huge potential.”
He also mentioned this:
“The Metaverse is a massive opportunity for a number of reasons. I feel even more strongly now that developing these platforms will unlock hundreds of billions of dollars, if not trillions over time.”
According to a minister in the Singaporean government, legal marriage procedures, court case disagreements, and other government services may one day be provided via the Metaverse.
Edwin Tong, Singapore’s Second Minister for Law, made this argument on July 20 while speaking at the TechLaw Fest 2022 in Singapore. He said that even highly individualized and private rituals like the solemnization of weddings could take place online in the Metaverse.
Due to the growing Web3 and Blockchain Gaming trend, concerns have been raised about key challenges such as interoperability across multiple metadatabases.
As a result, several of the most prominent Web3 platforms and businesses have joined the Open Metaverse Alliance for Web3 (OMA3) to find a way to overcome these challenges.
The American supermodel Bella Hadid has moved from the runway into the metaverse with the debut of CY-B3LLA, a collection of Non-Fungible Tokens showcasing artwork based on 3D scans of her face and body.
Metaverse’s real estate market will surpass $5 billion by 2026. This is the forecast included in the recent study on the metaverse compiled by Technavio, an international company specializing in market research.
According to the paper, the expansion will be propelled by the development of the metaverse into a mixed reality environment, allowing individuals to use these areas.
The University of Tokyo will provide several engineering classes that use metaverse technology. Students will be introduced to the various engineering fields, combining this knowledge with the skills necessary to manage metaverse-based worlds.
University will prepare them for the digital transformation that is currently taking place in both professional and educational settings. The University of Tokyo may begin these classes toward the end of this year.
Coca-Cola commemorated its first year in the Metaverse by launching a new collection of digital collectibles in limited quantities. The firm distributed the collectibles by airdrop “to members of [its] existing collectible community” on International Friendship Day, which fell on Saturday, July 30.
Stephenson used his creative skills in the field of blockchain technology by collaborating with Peter Vessenes, a venture entrepreneur and co-founder of the Bitcoin Foundation, on a proposal to create a new “metaverse first” layer-1 blockchain network. Stephenson and Vessenes met with Cointelegraph a week ago to discuss their project, Lamina1, as well as the Metaverse and the blockchain realms in general. Lamina is Latin for “layer,” and Stephenson and Vessenes used the term throughout their conversation.
The forthcoming MTV Video Music Awards 2022 will feature a brand new category for the first time this year to recognize the most outstanding musical performances in digital environments. The candidates for the brand-new “Best Metaverse Performance” category include things like Ariana Grande’s Rift Tour event that took place in Fortnite.
Virtual concerts in video games such as Fortnite and Roblox have become increasingly popular over the past few years. Artists such as Travis Scott, Lil Nas X, and many others have performed in these kinds of experiences. This new category was created in response to the proliferation of virtual concerts in video games.
There has been an increase in demand for IT workers who have specialized skills and can assist IT services firms and metaverse startups in expanding their use of the metaverse.
According to the specialized employment service Xpheno, there were around 55,000 job opportunities relating to the metaverse ecosystem in India at the beginning of this month.
That is it for this week. If you want to keep yourself updated, stay tuned for our future releases.
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