The Metaverse continues to dominate as a trending topic across the extended reality (XR) landscape, with numerous tech firms setting their sights and broader ‘horizons’ to develop the new platform.
Companies such as NVIDIA, ENGAGE XR, Nreal, Nextech AR, T-Mobile, and Qualcomm reached extensive milestones with their company solutions amid the massive push for Metaverse technologies.
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!
NVIDIA Stocks Rise amid Metaverse Funding
US tech giant NVIDIA saw its stocks rise 12 percent after it announced a massive funding push for VR technologies, following an unprecedented surge in global competition to develop the Metaverse.
The Santa Clara-based firm recently revealed it was building its ‘Omniverse’ software development kit (SDK) for developing collaborative VR platforms for businesses.
According to a Wells Fargo Analyst, Omniverse Enterprise represented a “significant platform expansion” for the company as well as a “deepening recurring software story.”
The news comes after Mark Zuckerberg, Meta Chief Executive and Founder, unveiled in October his company had rebranded from Facebook to reflect its ambitious plans to facilitate the Metaverse.
ENGAGE XR Selected for ‘World-First’ VR School
ENGAGE XR, an Irish tech company, announced it had struck a six-figure deal with classical curriculum development company Optima Domi to build the world’s first VR charter school in the US.
The Florida-based charter school will host up to 1,500 instructors and scholars to teach grades 3 to 8 on the Metaverse platform, and plans to expand further across K-12 classes in 2025.
Nreal Light to Debut in US after Court Battle
Chinese AR smart glass manufacturer Nreal revealed plans to debut its Nreal Light head-mounted displays in the US on November 18, namely after it battled several lawsuits lasting years with real-time 3D content firm Epic Games and MR headset maker Magic Leap.
Following the announcement, the flagship headsets will allow customers in North America to access low-cost, effective immersive kit after an arduous struggle with Epic Games, where the latter accused Nreal of copyright infringement for using a similar company name, significantly delaying the launch.
A second lawsuit was launched after Magic Leap accused Dr Xu Chi, Chief Executive and Founder of Nreal, of stealing company intellectual properties, with the case being overturned in a court ruling.
Unity Buys $1.6bn Stake in Weta Digital Studio
Visual effects studio Weta Digital revealed it had partially sold its enterprise to Unity Technologies for $1.6 billion USD in a bid to democratise RT3D content creation for users. Part of Weta Digital will continue to operate independently as WetaFX as the company will split into two divisions.
Marc Whitten, Senior Vice President and General Manager for Unity Create Solutions, explained at the time how Weta Digital hopes to provide content creators with “world-class” high-performance tools to build creative content across the industry.
T-Mobile, Qualcomm Build Snapdragon Content Ecosystem
Qualcomm, a global leader in chipsets and wireless communication technologies, announced a massive partnership with telecoms giant T-Mobile for its “Snapdragon Spaces” XR developer platform.
The openXR SDK will provide greater freedom to enterprises and individuals to refine production cycles for immersive applications.
The development follows T-Mobile’s Accelerator Spring Immersive Technology Programme, which backed tech startups such as Prisms of Reality, Kai XR, Everysight, and others with key resources.
Nextech AR Launches ‘ARitize’ Metaverse Studio
Canadian Metaverse firm Nextech AR stated it planned to launch an SDK-based software-as-a-service solution to help clients create their own Metaverses.
The firm’s Aritise Metaverse Studio will help build interoperability with other Metaverse platforms, including solutions from Snap, Meta, Apple, and others.
The SaaS solution is set for release in the first quarter 2022 and will feature 3D and AR experiences for the Metaverse, empowering firms and content creators to develop the successor to the Internet.
