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Apple + Metaverse. Will anyone care? 🙋
Apple wants a bite of the metaverse, plans to debut a virtual reality device. The question is - whether the interest in the futuristic, immersive digital world is fading.
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A whole new world with Apple's upcoming metaverse headset.
Just imagine 💭
Apple is reportedly entering the metaverse with a high-end mixed reality headset that combines virtual reality (VR) and augmented reality (AR) functionality.
Apple is expected to debut its virtual reality hardware product, high-tech goggles that blend the digital and physical worlds.
The company aims to ignite mainstream interest in virtual reality and believes it can offer mixed reality products that surpass Meta's Quest Pro headsets.
It is expected to be announced at Apple's annual Worldwide Developers Conference (WWDC) on June 5, 2023, with a release to the public later in the year.
What do we know about it?
It is rumoured to be called Reality One or Reality Pro and it is speculated to be priced at around $2,000-$3,000.
Right. That ain't easy on the reality of everyday wallets.
The headset is said to feature Micro OLED screens for each eye, providing a hyper-detailed 8K resolution. It may resemble ski goggles and could be paired with a waist-mounted battery pack to ensure a comfortable design.
The headset will likely utilise Apple's powerful M2 processor and include a range of cameras and sensors, including ones that can track leg movements and retina scanners for biometric security.
Apple is reportedly developing a new operating system called RealityOS or xrOS, along with experiential versions of apps like Maps and FaceTime.
The company is also focusing on adapting iPad apps into 3D versions and exploring sports, gaming, and fitness apps.
What's with this new found love?
Apple's entry into the metaverse shows its commitment to augmented and mixed reality, it's unclear if the company will fully embrace the open-source blockchain technology and interoperability principles of Web3.
It has traditionally favoured closed ecosystems, as seen with its locked-down iOS platform and App Store model. However, recent reports suggest that Apple may allow users in select regions to install apps from external sources, which could indicate a shift in its approach.
Ultimately, Apple's strategy in the metaverse may differ from other tech giants like Meta (formerly Facebook) and Microsoft.
While Meta emphasises openness and interoperability, Apple has a history of forging its own path with unique branding and closed ecosystems.
Why does Apple's love for metaverse matter?
Apple's move into mixed reality will accelerate user-generated content and enable creators to build immersive experiences more easily using generative AI tools.
The metaverse is expected to extend into our everyday lives through augmented reality (AR) in a mixed reality setting.
AR in the metaverse offers enhanced engagement by overlaying virtual items in the real world, creating new gaming experiences and potential purchases.
Social interactions in the metaverse can bridge into the real world through virtual avatars, allowing seamless interactions across different platforms.
With AR, virtual assets can be utilised in the real world, offering new utility and creativity, such as earning discounts or featuring avatars in interactive experiences.
Multiplayer experiences in the metaverse and real world will redefine interactions and offer new ways to play, connect, and learn.
AR will make digital content more omnipresent, blurring the lines between virtual and real, and creating gamified experiences that bridge different realities.
The development of AR technology will lead to even more innovative and immersive gaming experiences in the future.
Alright. What is the counter argument?
The concept of the metaverse, a fully realised digital world that exists beyond our own, gained momentum during the pandemic.
The term refers to a variety of experiences, environments, and assets that exist in the virtual space. Facebook (now Meta), Google, Microsoft, and Apple have all been working on metaverse-related technology.
However, interest in the metaverse has stalled in recent times, and some metaverse projects have been shut down, despite the initial enthusiasm. Technology investors have shifted their focus to trends like artificial intelligence (AI). Metaverse-related start-ups raised significantly less venture capital in the first months of 2023 compared to the previous year.
While some companies have scaled back their metaverse projects, others like Roblox and Epic Games remain committed to their long-term visions of the metaverse. These platforms, with their large user bases, user-generated content, and digital economies, provide a more compelling vision of the metaverse.
Overall, the metaverse is still a concept that has potential, but its development and adoption may take longer than initially anticipated. The intense focus on the metaverse and the exaggerated predictions about its imminent arrival have led to disappointment for many.
TTD Week That Was 📆
The week of crypto promise in times of regulatory storm.
Saturday: The Dogefather troubles 🐕 😵💫
Thursday: Can crypto get you a home loan? 🏠👨💻
Wednesday: Zuzalu what? 👀
Tuesday: Binance's Aussie Adventure 🐨
Monday: US President v Crypto ⚖️
TTD Week in Funding 💰
Magic Labs $52 Million, wallet-as-a-service (WaaS). Non-custodial wallet creation infrastructure for companies to bring their customers over to web3.
Fusionist $6.6 Million, a Web3 gaming DApp, to drive innovation and adoption in Web3 gaming.
Spinamp $1.2 Million, public library of web3 artists and minted music collections. Making music NFTs more accessible, engaging and enjoyable.
Transak $20 Million, Web3 payments solutions. A B2B fiat-to-crypto payment gateway that allows users to buy or sell crypto assets.
Tabi $10 Million, NFT marketplace and on-chain identity protocol that aggregates blockchain game transactions and entertainment.
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