The Metaverse is already here: 5 companies building our virtual reality future

“If you believe Facebook, the future is a virtual reality “metaverse.”

The tech giant, which changed its name to Meta last month, plans to invest $10 billion this year to develop products that support augmented and virtual reality — a robotic hand, high-tech VR glasses and sophisticated software applications, to name just a few. Analysts expect the company to spend at least $50 billion to achieve its promise of a virtual reality future.

But Meta is far from the only player. In fact, a half-dozen other companies are already building out the hardware and software that will be the next generation of virtual interaction — something Wall Street sees as a $1 trillion market. The companies include Google, Microsoft, Apple, Valve and others building out products for work and communication. Smaller startups are likely to join them as investors flood into the market.”

Niantic is mapping the world and warns about the future of augmented reality

“Hanke warns about the dangers of less than scrupulous actors taking advantage of the world of AR. ‘Think about a wearable device that’s with you all day long. If it’s on your head, it probably knows where you’re looking most of the time. Maybe it knows about other things too, like your heart rate. You see a product or an advertisement, what happened to you physiologically? Did your heart rate go up? What if you see a person? Maybe your glasses recognize that specific person. What does your heart rate do? Did your pupils dilate when you see another person. What about your emotions? We’re getting pretty good at predicting that too. Thing is, this is not science fiction. Tech can do what I just described right now.’”

Facebook creates exec team to work on Mark Zuckerberg’s vision for a digital universe

“‘Today Portal and Oculus can teleport you into a room with another person, regardless of physical distance, or to new virtual worlds and experiences,’ Bosworth wrote. ‘But to achieve our full vision of the Metaverse, we also need to build the connective tissue between these spaces — so you can remove the limitations of physics and move between them with the same ease as moving from one room in your home to the next.’”

Virtual Try-On Is More Than A Pandemic Trend – And These Brands Are Reaping The Rewards

  • “Partnering with fashion giants like Farfetch and Prada to start, Snap’s new machine learning technology will utilize ‘3D Body Mesh’ to replicate real-life fits as Snapchatters try virtual clothes on via the camera, implementing voice-enabled controls to let the app know they’re looking to browse and try on in AR.
  • ‘70% of consumers feel that finding clothes online that fit is really difficult, and returns are a $550 billion problem for businesses,’
  • ‘Personalization is so important — how do we make this personal to you, to your face, to your body, to your room—and that’s where try-on and features like fit recommendations with Fit Analytics really come into play,’ Arguelles adds.”

PORTL Hologram raises $3M to put a hologram machine in every home

  • “‘When I started this I thought it was going to be a novelty company,’ he said. ‘When the pandemic hit he knew we needed to do much more than that.’
  • The projector can transmit images any time of the day or night, and using PORTL’s capture studio-in-a-box means that anyone with $60,000 to spend and a white background can beam themselves into any portal anywhere in the world.”