The global extended reality (XR) industry received some explosive updates from Facebook, a major player in developing the Metaverse, which shook news headlines after it rebranded and shifted focus.
The new company, Meta, joins tech firms such as Apple, Primax, and Cisco, in the Big News lineup of top headlines for last week’s unmissable virtual, augmented, and mixed reality (VR/AR/MR) stories.
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 Reveals ‘Meta’ Rebrand, Explores Metaverse
Facebook Inc revealed at its Connect event it had rebranded the company as Meta to communicate its ambitions to develop the Metaverse.
The new platform would allow users access to an “embodied internet” of immersive worlds, teleport to distant locations, build avatars, and view real-time 3D (RT3D) content, Mark Zuckerberg, Meta Chief Executive, said in a keynote speech at the time.
The US social media giant also unveiled two key projects – Project Cambria and Project Nazare – aimed at developing the next generation of professional VR and AR head-mounted displays, respectively.
Meta will also develop its Horizon’s suite of communications apps, which include Worlds, Workrooms, Home, and Venues, among many others, to provide immersive work and social spaces for users.
Primax’s 5K VR Headset to Challenge Oculus, Valve
Primax, a Chinese maker of high-end VR headsets, revealed its Reality 12K QLED headset at an event last week in a bid to challenge market leaders Oculus and Valve Index.
The standalone headset will cost $2399 and launch in the fourth quarter 2022 to become the market’s most powerful device with wireless PCVR streaming capabilities.
Cisco Unveils Webex Hologram XR Solution
Cisco Systems revealed at an event it had built a new work solution to display holographic RT3D content for collaborative meetings via AR-powered headsets.
The Webex Hologram XR solution would provide immersive technologies such as digital and physical content sharing and compatibility with head-mounted displays such as Microsoft’s HoloLens 2 and Magic Leap headsets.
Apple Files ‘Retinal’ Display Patent for AR Glasses
Apple Inc has filed another patent to the US Patent and Trademark Office (USPTO) for a potential display solution that beams images directly into the retina rather than via screens.
The Cupertino, California-based tech giant’s “Direct Retinal Projector” will aim to reduce or avoid motion sickness, headaches, fatigue, and other symptoms of “accommodation-convergence mismatch.”
Such issues occur when the user’s body motion sensing fail to match the content delivered to the headset, resulting in confusing signals to the brain.
Facebook to Invest $10 Billion in Reality Labs Division
Facebook, now rebranded as Meta, announced its plans to provide $10 billion USD in funds for its Reality Labs VR and AR division by late-2021.
The funds come as the company rebranded to communicate its focus on the Metaverse, which could potentially succeed the Internet to build an immersive platform for socialising, eCommerce, and others.
In its third quarter earnings report, the Menlo Park-based firm revealed the funding amid criticisms over leaked documents from former employee, Frances Haugen, alleging the social media giant had ignored the negative mental health impacts on users as well as the platform’s potential to spread misinformation.
Zuckerberg slammed the allegations as a “coordinated effort” to “paint a false picture of our company,” adding Meta had created an open culture to remain transparent and improve its operations.
