Impressive developments have entered the headlines once again after companies such as Facebook, Nextech, and others announced the launch of major product releases and new technologies.
The industry was rocked by huge updates, including the upcoming release of Facebook’s 128gb Oculus Quest 2 and Horizon Workrooms, which have disrupted both the hardware and software industries.
The Metaverse continues reshape the virtual, augmented, and mixed reality (VR/AR/MR) sectors as the ongoing ‘virtual space race’ continues to drive competition among rival firms.
In case you missed it, here are the top stories from last week. Be sure to also stay posted with our newsletter by visiting https://www.xrtoday.com/sign-up/ for further updates!
Facebook Opens ‘Horizon Workrooms’ for Business
Facebook announced last week it had opened its beta version of Horizon Workrooms for the Oculus Quest 2, which would introduce sweeping changes to the virtual office for teams and companies.
People using headsets could use Workrooms along with the company’s Passthrough API for numerous tasks including file sharing, mixed reality overlays, computer streaming, socialising and more.
Workrooms also employed keyboard and hand tracking, spatial audio, and Oculus Avatars for virtual workspaces, allowing users to experience a greater depth of realism and functionality.
The release comes amid Facebook’s push for new technologies aimed at building the Metaverse, which has seen a meteoric rise in interest following Chief Executive Mark Zuckerberg’s bold comments in early August the Menlo Park-based firm would shift to become a “Metaverse company”.
AMAXG Launches Metaverse eLearning Platform
South Korean tech company AMAXG confirmed last week it would launch its ‘BIZA-Metaversity’ on August 25, a Metaverse eLearning platform which would combine blockchain, artificial intelligence (AI), non-fungible tokens (NFTs), and virtual reality, Korean media reported last week.
Numerous tech companies such as K2SOFT and ANISTSR had teamed up with AMAXG to develop the platform in a massive national push to build new Metaverse technologies, with the partners stating they hoped to become frontrunners in the emerging sector.
Choi Jeoung-Moo, AMAXG CEO, said in a statement the three companies recognised “the significance of dominating” metaverse and NFT markets to attract younger generations.
Nextech 3D Ads to Join Snap, Facebook, Instagram
Rising AR firm Nextech AR shocked audiences after it announced the integration of 3D advertising solutions onto leading social media platforms such as Snapchat, Facebook, and Instagram.
The moves would offer Google’s huge 3D ad network to Nextech customers along with billions of daily active users from the three social media giants.
According to Evan Gappelberg, Nextech Chief Executive, Nextech was “fully positioned” to utilise the “fastest growing segment in the AR industry,” adding the new integrations would open the Canadian firm to a “global ad audience of any demographic” to accelerate revenues in the AR industry.
FTC Hits Facebook with Anticompetitive Lawsuit
US tech giant Facebook was hit last week with additional scandals after the Federal Trade Commission (FTC) reopened a dismissed case accusing the firm of breaching anticompetitive practices.
New evidence was submitted in the trial reopening, namely after the Facebook acquired several firms to expand its Metaverse and 3D content ambitions over the past few months.
FTC concerns were raised following the acquisitions in 2020, with Facebook responding in a recent statement it was “unfortunate” the FTC had continued its “meritless” lawsuit, citing the previous ruling which concluded a lack of evidence and “no valid claim” the social media giant was monopolistic.
Virti CEO: Firms Can Recover Post-COVID with XR
Dr Alex Young, Chief Executive at VR training software firm Virti, offered insights in a recent blog post on how global firms could use XR technologies to recover from the ongoing COVID-19 crisis.
According to the exec, the business landscape had been “fundamentally reshaped” by the pandemic, forcing firms to find “new ways to operate and thrive.”
Industries could succeed in the volatile market in the second half of 2021 depending on how well they adapted to the increasingly “competitive, margin-driven and future oriented” industries.
Such emerging technologies would allow successful companies to boost hybrid work, training, and recruitment as the XR industry continued to skyrocket in valuation, with the market estimated to reach roughly $463.7 billion, figures cited my Dr Young revealed.
Found a story that you believe we’ve missed? What were your favourite moments from last week’s events? Let us know in the comments section below or reach out to us on our social media channels!
