Author name: Rejus Almole

a-very-interesting-vr/ar-association-enterprise-&-training-forum

A Very Interesting VR/AR Association Enterprise & Training Forum

The VR/AR Association held a VR Enterprise and Training Forum yesterday, May 24. The one-day event hosted on the Hopin remote conference platform, brought together a number of industry experts to discuss the business applications of a number of XR techniques and topics including digital twins, virtual humans, and generative AI.

The VR/AR Association Gives Enterprise the Mic

The VR/AR Association hosted the event, though non-members were welcome to attend. In addition to keynotes, talks, and panel discussions, the event included opportunities for networking with other remote attendees.

“Our community is at the heart of what we do: we spark innovation and we start trends,” said VR/AR Association Enterprise Committee Co-Chair, Cindy Mallory, during a welcome session.

While there were some bonafide “technologists” in the panels, most speakers were people using the technology in industry themselves. While hearing from “the usual suspects” is nice, VR/AR Association fora are rare opportunities for industry professionals to hear from one another on how they approach problems and solutions in a rapidly changing workplace.

“I feel like there are no wrong answers,” VR/AR Association Training Committee Co-Chair,Bobby Carlton,said during the welcome session. “We’re all explorers asking where these tools fit in and how they apply.”

The Convergence

One of the reasons that the workplace is changing so rapidly has to do with not only the pace with which technologies are changing, but with the pace with which they are becoming reliant on one another. This is a trend that a number of commentators have labeled “the convergence.”

“When we talk about the convergence, we’re talking about XR but we’re also talking about computer vision and AI,” CGS Inc President of Enterprise Learning and XR, Doug Stephen, said in the keynote that opened the event, “How Integrated XR Is Creating a Connected Workplace and Driving Digital Transformation.”

CGS Australia Head, Adam Shah, was also a speaker. Together the pair discussed how using XR with advanced IT strategies, AI, and other emerging technologies creates opportunities as well as confusion for enterprise. Both commented that companies can only seize the opportunities provided by these emerging technologies through ongoing education.

“When you put all of these technologies together, it becomes harder for companies to get started on this journey,” said Shah. “Learning is the goal at the end of the day, so we ask ‘What learning outcomes do you want to achieve?’ and we work backwards from there.”

The convergence isn’t only changing how business is done, it’s changing who’s doing what. That was much of the topic of the panel discussion “What Problem Are You Trying to Solve For Your Customer? How Can Generative AI and XR Help Solve It? Faster, Cheaper, Better!”

“Things are becoming more dialectical between producers and consumers, or that line is melting where consumers can create whatever they want,” said Virtual World Society Executive Director Angelina Dayton. “We exist as both creators and as consumers … We see that more and more now.”

“The Journey” of Emerging Technology

The figure of “the journey” was also used by Overlay founder and CEO, Christopher Morace, in his keynote “Asset Vision – Using AI Models and VR to get more out of Digital Twins.” Morace stressed that we have to talk about the journey because a number of the benefits that the average user wants from these emerging technologies still aren’t practical or possible.

“The interesting thing about our space is that we see this amazing future and all of these visionaries want to start at the end,” said Morace. “How do we take people along on this journey to get to where we all want to be while still making the most out of the technology that we have today?”

Morace specifically cited ads by Meta showing software that barely exists running on hardware that’s still a few years away (though other XR companies have been guilty of this as well). The good news is that extremely practical XR technologies do exist today, including for enterprise – we just need to accept that they’re on mobile devices and tablets right now.

Digital Twins and Virtual Humans

We might first think of digital twins of places or objects – and that’s how Morace was speaking of them. However, there are also digital twins of people. Claire Hedgespeth, Head of Production and Marketing at Avatar Dimension, addressed its opportunities and obstacles in her talk, “Business of Virtual Humans.”

“The biggest obstacle for most people is the cost. … Right now, 2D videos are deemed sufficient for most outlets but I do feel that we’re missing an opportunity,” said Hedgespeth. “The potential for using virtual humans is only as limited as your imagination.”

The language of digital twins was also used on a global scale by AR Mavericks founder and CEO, William Wallace, in his talk “Augmented Reality and the Built World.” Wallace presented a combination of AR, advanced networks, and virtual positioning coming together to create an application layer he calls “The Tagisphere.”

“We can figure out where a person is so we can match them to the assets that are near them,” said Wallace. “It’s like a 3D model that you can access on your desktop, but we can bring it into the real world.”

It may sound a lot like the metaverse to some, but that word is out of fashion at the moment.

And the Destination Is … The Metaverse?

“We rarely use the M-word. We’re really not using it at all right now,” Qualcomm’s XR Senior Director, Martin Herdina, said in his talk “Spaces Enabling the Next Generation of Enterprise MR Experiences.”

Herdina put extra emphasis on computing advancements like cloud computing over the usual discussions of visual experience and form factor in his discussion of immersive technology. He also presented modern AR as a stepping stone to a largely MR future for enterprise.

“We see MR being a total game changer,” said Herdina. “Companies who have developed AR, who have tested those waters and built experience in that space, they will be first in line to succeed.”

VR/AR Association Co-Chair, Mark Gröb, expressed similar sentiments regarding “the M-word” in his VRARA Enterprise Committee Summary, which closed out the event.

“Enterprise VR had a reality check,” said Gröb. “The metaverse really was a false start. The hype redirected to AI-generated tools may or may not be a bad thing.”

Gröb further commented that people in the business of immersive technology specifically may be better able to get back to business with some of that outside attention drawn toward other things.

“Now we’re focusing on the more important thing, which was XR training,” said Gröb. “All of the business cases that we talked about today, it’s about consistent training.”

Business as Usual in the VR/AR Association

There has been a lot of discussion recently regarding “the death of the metaverse” – a topic which, arguably, hadn’t yet been born in the first place. Whether it was always just a gas and the extent to which that gas has been entirely replaced by AI is yet to be seen.

While there were people talking about “the enterprise metaverse” – particularly referring to things like remote collaboration solutions – the metaverse is arguably more of a social technology anyway. While enterprise does enterprise, someone else will build the metaverse (or whatever we end up calling it) – and they’ll probably come from within the VR/AR Association as well.

A Very Interesting VR/AR Association Enterprise & Training Forum Read More »

‘beat-saber’-finally-comes-to-psvr-2-as-free-upgrade,-queen-music-pack-released

‘Beat Saber’ Finally Comes to PSVR 2 as Free Upgrade, Queen Music Pack Released

We expected Beat Saber as a day-one title on PSVR 2 when the headset launched in February, but it seems Meta had different ideas. Better late than never though, as everyone’s favorite block-slashing rhythm game is now available on PSVR 2 as a free upgrade from the PSVR version, coming alongside a paid music pack featuring the ever-iconic band Queen.

The Queen music pack is available across all supported platforms, including Quest, PSVR/2, and PC VR headsets, priced at $14.

It includes the 11 tracks listed below:

  • “Another One Bites the Dust”
  • “Bohemian Rhapsody”
  • “Crazy Little Thing Called Love”
  • “Don’t Stop Me Now”
  • “I Want It All”
  • “Killer Queen”
  • “One Vision”
  • “Somebody to Love”
  • “Stone Cold Crazy”
  • “We Are The Champions”
  • “We Will Rock You”

If you already own Beat Saber on PSVR, you can upgrade to the PSVR 2 version for free. This will also allow you to transfer any music packs previously purchased on PSVR at no extra cost.

‘Beat Saber’ Finally Comes to PSVR 2 as Free Upgrade, Queen Music Pack Released Read More »

gdpr-turns-5:-meta-has-amassed-e2.5b-in-fines-—-over-50%-of-the-total

GDPR turns 5: Meta has amassed €2.5B in fines — over 50% of the total

GDPR turns 5: Meta has amassed €2.5B in fines — over 50% of the total

Thomas Macaulay

Story by

Thomas Macaulay

Senior reporter

Thomas is a senior reporter at TNW. He covers European tech, with a focus on deeptech, startups, and government policy. Thomas is a senior reporter at TNW. He covers European tech, with a focus on deeptech, startups, and government policy.

GDPR turned five this week — and celebrated in customary style: by slapping Meta with another eye-watering fine.

At a record-breaking €1.2bn, the punishment was the perfect self-gift for the EU regulation. For Meta, however, it marks another miserable anniversary.

According to research by Privacy Matters, Mark Zuckerberg’s demonic brainchild has accrued over half of the €4bn in total GDPR fines.

After amassing a staggering €2.5bn across seven separate penalties, it’s safe to say that Meta won’t be attending the birthday party. But it wasn’t likely to have got an invite anyway.

The social media behemoth has been feuding with EU lawmakers for years. On multiple occasions, the company has gone as far as threatening to shut down services in Europe over data rules.

The EU, meanwhile, have been merrily doling out fines for Meta’s data protection breaches. The majority have been delivered by the Data Protection Authority of Ireland, where Meta has its European headquarters. The regulator dished out four fines in 2022 alone.

The Facebook owner is not alone in entering GDPR’s crosshairs — but it’s been by far the most consistent target.

Amazon and Google have combined total fines of around €800 million — a figure dwarfed by Meta’s most recent fine alone. Meanwhile, Microsoft, Apple, Pinterest, and LinkedIn have never been charged.

The penalties have solidified the EU’s reputation as the West’s top tech regulator. For GDPR, that’s another cause for celebration. But for Meta, this birthday party must suck.

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London crowned tech king of the world

London crowned tech king of the world

Siôn Geschwindt

Story by

Siôn Geschwindt

London has been named the world’s most high-tech city, according to Z/Yen Group’s seventh edition of the Smart Centres Index, published today.  

The British capital secured the top spot for its world-leading financial services, deep talent pool, quality of its business environment, and international reputation.

Climbing from second place, London was joined in the top five by New York, San Francisco, Zurich, and Lugano. Oxford came in seventh place, putting four European cities in the top 10. 

The news that London has taken the top tech title from New York will undoubtedly be welcomed by British PM Rishi Sunak, who has on multiple occasions expressed his desire to make the UK as a whole a tech and innovation superpower. 

In a rather humourous speech recently Sunak even labelled the country “Unicorn Kingdom,” in a not-so-subtle nod to the fact that the UK has so far birthed 162 startups valued at $1 billion or more.     

While the PM definitely shouldn’t forge a career in comedy, he does have a point. During 2022, UK tech firms raised £24bn in funding, more than France (£11.8bn) and Germany (£9.1 bn) combined, making it the world’s third-largest tech sector.  

Leading this investment is London, which is currently home to a number of up-and-coming tech firms including Deliveroo, Revolut, and Wise, as well as emerging startups like AI research lab DeepMind and metaverse developer Improbable.    

The top 20 most high-tech cities in the world. Credit: Z/Yen

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Google launches €10M social innovation AI fund for European entrepreneurs

Google launches €10M social innovation AI fund for European entrepreneurs

Linnea Ahlgren

Story by

Linnea Ahlgren

In conjunction with a visit of CEO Sundar Pichai’s visit to Stockholm yesterday, Google announced the launch of the second Google.org Social Innovation Fund on AI to “help social enterprises solve some of Europe’s most pressing challenges.” 

Through the fund, Google is making €10 million available, along with mentoring and support, for entrepreneurs from underserved backgrounds. The aim is to help them develop transformative AI solutions that specifically target problems they face on a daily basis.

The fund will provide capital via a grant to INCO for the expansion of Social Tides, an accelerator program funded by Google.org, that will provide cash support of up to $250,000 (€232,000). 

In 2021, Google put up €20 million for European AI social innovation startups through the same mechanism. Among the beneficiaries at that time was The Newsroom in Portugal, which uses an AI-powered app to encourage a more contextualised reading experience to take people out of their bubble and reduce polarisation.

Mini-European tour ahead of AI Act

Of the money offered by the tech giant this time around €1 million will be earmarked for nonprofits that are helping to strengthen and grow social entrepreneurship in Sweden.

During his brief stay, Pichai met with the country’s prime minister and visited the KTH Royal Institute of Technology to meet with students and professors.

Googles vd Sundar Pichai gästade KTH och pratade om artificiell intelligens. Han konstaterar att det är ok att vara rädd om rädslan används till någonting vettigt. https://t.co/imbtxxbSVn pic.twitter.com/oWal43dc2a

— KTH Royal Institute of Technology (@KTHuniversity) May 24, 2023

Sweden currently holds the six-month-long rotating Presidency of the European Union. Pichai’s visit to Stockholm preceded a trip to meet with European Commission deputy chief Vera Jourova and EU industry chief Thierry Breton on Wednesday. 

Breton is one of the drivers behind the EU’s much-anticipated AI Act, a world-first attempt at far-reaching AI regulation. One of the biggest sources of contention — and surely subject to much lobbying from the industry — is whether so-called general purpose AI, such as the technology behind ChatGPT or Google’s Bard should be considered “high-risk.” 

Speaking to Swedish news outlet SVT on the day of his visit, Pichai stated that he believes that AI is indeed too important not to regulate, and to regulate well. “It is definitely going to involve governments, companies, academic universities, nonprofits, and other stakeholders,” Google’s top executive said. 

However, he may be doing some convincing of his own in Brussels, further adding, “These AI systems are going to be used for everything, from recommending a nearby coffee shop to potentially recommending a health treatment for you. As you can imagine, these are very different applications. So where we could get it wrong is to apply a high-risk assessment to all these use cases.” 

Will Pichai be successful in convincing the Commission? Then, just maybe, Bard will launch in Europe too

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vr-horror-hit-returns-with-‘five-nights-at-freddy’s:-help-wanted-2’,-trailer-here

VR Horror Hit Returns With ‘Five Nights at Freddy’s: Help Wanted 2’, Trailer Here

One of VR’s most popular horror games is getting a sequel. Five Nights at Freddy’s: Help Wanted 2 is officially heading to PSVR 2 and promises to improve on the original.

Developer Steel Wool Studios says that FNAF: Help Wanted 2 will bring new mini-games and feature familiar characters and locations from the series, while breaking new ground as well.

Help Wanted 2 will feel familiar to players who experienced the first game, but with all new games, locations, story, and animatronics. Do your best to complete your work as fast and as diligently as you can, but be careful. One wrong move at this job can lead to… unexpected consequences. Utilizing the enhanced power and fidelity of PS VR2, this title will be the most immersive, heart-racing Five Nights at Freddy’s title ever. PS VR2 sense controller and headset haptics let players feel every step, rumble, and shake as you race to complete your tasks on time. VR brings players even closer to the animatronics than ever before, just not too close, they have been known to bite.

The original FNAF: Help Wanted is available on the original PSVR, Quest, and PC VR, and while the studio hasn’t confirmed that the sequel will reach all the same platforms, we’d guess that’s where things are headed (except probably not the original PSVR now that Sony has moved on to PSVR 2).

The FNAF: Help Wanted 2 release date is planned for “late 2023.”

VR Horror Hit Returns With ‘Five Nights at Freddy’s: Help Wanted 2’, Trailer Here Read More »

classic-vr-zombie-shooter-‘arizona-sunshine’-sequel-revealed-for-psvr-2-&-pc-vr

Classic VR Zombie Shooter ‘Arizona Sunshine’ Sequel Revealed for PSVR 2 & PC VR

During PlayStation’s gaming showcase today, Vertigo Games unveiled the sequel to its classic zombie-shooting adventure, Arizona Sunshine (2016).

Dubbed Arizona Sunshine 2, the game appears to have taken a page out of Fallout 4’s book by including a four-legged pal named Buddy who seems to be eager as ever to help out in the wasteland.

Notably, the game’s reveal trailer is labeled as a ‘CG trailer’, so it’s unclear how much of the slapstick zombie abuse will translate into gameplay.

Here’s how Vertigo Games describes the sequel:

Welcome back to sun-kissed, zombified Arizona. Narrated by the unmistakable quips of our dark-humored protagonist, Arizona Sunshine 2 sets you on an all-new limb-strewn adventure in search of answers. In a post-apocalyptic world where every bullet counts, experience the thrill of realistic combat as you wield all-new and fan-favorite weapons–from shotguns to machetes and flamethrowers.

And what’s better than braving the end of the f*cking world? Surviving it with your new best friend–Buddy. Not only is Buddy your four-legged companion through thick and thin, he’s also the goodest boy and will help take down those pesky Freds for you. In a desolate world, suddenly you’re not so alone anymore. It’s funny how things go.

The studio confirmed Arizona Sunshine 2 is slated to arrive on PSVR 2 and SteamVR headsets at some point later this year. You can now wishlist it on PlayStation and Steam.

It’s not clear when the sequel will arrive, or whether it will also target Quest like the original. For now, the studio has only confirmed those platforms and that rough launch window.

Classic VR Zombie Shooter ‘Arizona Sunshine’ Sequel Revealed for PSVR 2 & PC VR Read More »

‘resident-evil-4’-remake-vr-mode-gets-first-gameplay-trailer

‘Resident Evil 4’ Remake VR Mode Gets First Gameplay Trailer

During PlayStation’s gaming showcase today, the company showed off some new footage of the official PSVR 2 mode of Resident Evil 4 (2023) remake.

There’s no news on when to expect the game’s VR mode, which has been previously confirmed to arrive as a free DLC upgrade.

Just as we expected with the inclusion of PSVR 2’s more advanced motion controllers, in a PS blogpost the creators say you’ll be able to swing around the game’s iconic knife and wield Leon’s powerful and varied arsenal with an immersive and authentic feel.

Resident Evil 4’s VR mode is still in development, the studio says, so we’ll be waiting on more info and official release date.

‘Resident Evil 4’ Remake VR Mode Gets First Gameplay Trailer Read More »

70%-of-the-20-best-rated-quest-2-apps-are-now-available-on-pico-4

70% of the 20 Best-rated Quest 2 Apps are Now Available on Pico 4

The standalone VR market is continuing to grow, and with it, we’re increasingly seeing platform competition for quality content. Pico made its biggest push into consumer VR so far with the launch of the Pico 4 last year, and the company has been gaining ground on getting top VR content onto its store.

Top Quest Apps Showing up on Pico 4

Looking at the 20 best-rated apps on the Quest store (data as of April 2023), to date 70% of the list is available on Pico’s standalone headset:

Title Pico 4 Quest 2
Moss: Book II
The Room VR: A Dark Matter
Puzzling Places
Walkabout Mini Golf
I Expect You To Die 2
Breachers
COMPOUND
Vermillion
Swarm
DYSCHRONIA: Chronos Alternate
PatchWorld – Make Music Worlds
I Expect You To Die
Moss
Red Matter 2
ARK and ADE
Ragnarock
Cubism
Ancient Dungeon
Into the Radius
The Last Clockwinder

Another way of looking at Pico’s content traction is by the 20 most-rated apps on the Quest store. Breaking it down that way (data as of April 2023), 50% of the list is now available on Pico.

Title Pico 4 Quest 2
Beat Saber
Blade & Sorcery: Nomad
The Walking Dead: Saints & Sinners
SUPERHOT VR
GOLF+
BONELAB
Vader Immortal: Episode I
Onward
Job Simulator
The Room VR: A Dark Matter
Five Nights at Freddy’s: Help Wanted
Resident Evil 4
The Thrill of the Fight
Walkabout Mini Golf
Pistol Whip
Eleven Table Tennis
GORN
Virtual Desktop
Vader Immortal: Episode III
A Township Tale

Building good VR hardware is really just half the battle when it comes to being a serious player in the industry. The other half is getting compelling content onto the headset.

While Quest 2 still has a considerably larger library of apps and several big standalone exclusives (like Beat Saber) Pico looks to be doing a pretty good job so far in its push to legitimize its platform by making sure that some of the top VR content is available for its customers.

And there’s likely more to come. The company has yet to launch its latest Pico 4 headset in the US, which is a major VR market of both customers and developers. Without the US market in play, there’s less incentive for VR developers to bring their apps to Pico. But if Pico finally launches its headset in the US, it could be the nudge needed for more top VR content to make the leap to the store.


Special thanks to @CkYLee for helping to title availability on the Pico store

70% of the 20 Best-rated Quest 2 Apps are Now Available on Pico 4 Read More »

psvr-2-outsold-original-psvr-in-first-6-weeks,-sony-confirms

PSVR 2 Outsold Original PSVR in First 6 Weeks, Sony Confirms

Sony revealed PSVR 2 outperformed the original PSVR in sales in the first six weeks, taking a strong early lead over the company’s first-gen PlayStation headset.

An investor relations presentation delivered by Sony Interactive Entertainment chief Jim Ryan includes some new information detailing PSVR 2 units sales relative to the original PSVR launched in October 2016.

According to a chart in Ryan’s presentation, Sony’s latest headset has sold 8% more than the original in the first six weeks, ostensibly spanning from its February 22nd, 2023 launch to April 5th.

Image courtesy Sony

The graph’s y-axis is unlabeled, although it’s likely those numbers are in the thousands of units, which would mean PSVR 2 sold around 450,000 units in its first week, trailing up to just under 600,000 at the six-week mark.

PSVR 2’s adoption curve is notably flatter than the original PSVR, which started at just north of 300,000 units in its first week, ending up at around 550,000 units by week six. When Sony last released sales figures in 2020, the original PSVR had sold around 5 million lifetime units. Notably, PSVR reached its first million in just under its five months.

PSVR 2’s game library consists of a few strong anchor titles, such as Horizon Call of the Mountain, Resident Evil Village, and Gran Turismo 7 while offering an array of upgraded PSVR content and newly ported Quest titles. Upcoming titles include Ghostbusters VR, Beat Saber, Crossfire: Sierra Squad, Resident Evil 4, Synapse, The Foglands, Green Hell VR, and Behemoth.

To keep PSVR 2’s unit sales above the original, the company undoubtably needs to focus on widening its content offering in the coming months. The company is hosting a PlayStation gaming showcase later today which we hope will reveal a little more about the company’s near-term content strategy for PSVR 2.

PSVR 2 Outsold Original PSVR in First 6 Weeks, Sony Confirms Read More »

stealth-action-classic-‘budget-cuts’-comes-to-psvr-2-&-quest-with-‘ultimate’-edition-in-june

Stealth Action Classic ‘Budget Cuts’ Comes to PSVR 2 & Quest with ‘Ultimate’ Edition in June

The newly announced Budget Cuts Ultimate, which combines both Budget Cuts (2018) and Budget Cuts 2 (2019) stealth action games into a single experience, is set to launch on PSVR 2 and Quest 2 next month.

Budget Cuts Ultimate is set to bring both games to those respective platforms for the first time, launching on June 1st.

Originally released on PC VR and the original PSVR, Budget Cuts makes use of a unique portaling system that completely rethinks teleportation in VR as we know it. Not only can you pop around corners like a ninja, but also throw knives through portals, making for some compelling encounters with the world’s armed security robots.

Here’s a description, courtesy its developers Neat Corporation:

As your last human co-worker is hauled away, a mysterious briefcase from someone on the outside is delivered to your desk. You need to get to the bottom of what is going on at TransCorp.

Sneak around enemy robots by climbing through air ducts and service tunnels, or embrace violence by unleashing a fistful of knives, quivers of arrows, grenades, and coffee mugs onto their unsuspecting circuits. Once you’ve completed your mission, test your skills in the arcade with multiple modes, difficulty levels, and scoring.

You can wishlist the game on PSVR 2 here, and on Quest 2/Pro here.

Stealth Action Classic ‘Budget Cuts’ Comes to PSVR 2 & Quest with ‘Ultimate’ Edition in June Read More »

improbable-launches-new-metaverse-think-tank-amid-strategic-pivot

Improbable launches new metaverse think tank amid strategic pivot

Improbable launches new metaverse think tank amid strategic pivot

Thomas Macaulay

Story by

Thomas Macaulay

Senior reporter

Thomas is a senior reporter at TNW. He covers European tech, with a focus on deeptech, startups, and government policy. Thomas is a senior reporter at TNW. He covers European tech, with a focus on deeptech, startups, and government policy.

British unicorn Improbable has sharpened its metaverse focus with the launch of a new think tank.

Dubbed the Metaverse Society, the think tank will explore the social and economic impacts of the nascent tech. Improbable told TNW that it wants to develop use cases, clarify misconceptions, and reduce risks associated with the metaverse.

“We want to contribute to ensuring the metaverse holds its promise of being a network of meaning that unlocks creativity, social interaction, and economic opportunities, free from gatekeepers,” said Herman Narula, Improbable’s founder and CEO.

“The convergence of AI, metaverse, and blockchain technologies offers a unique moment to shape a space where communities, content developers and brands can re-imagine engagement, loyalty, and culture. We need to bring together key players and address the misconceptions around the metaverse.”

Improbable plans to present a detailed program of Metaverse Society activities at the end of June.

To kick things off, the company is bringing its own research portfolio to the think tank. This includes studies of potential metaverse sectors, a report on European regulation — and a new research memo that offers clues on Improbable’s evolving strategy. 

“Without blockchain-based solutions, the metaverse is not possible.

The new memo emphasises the value of blockchain in making the metaverse decentralized, interoperable, and monetisable.

“The metaverse will rely heavily on blockchain technology, particularly in terms of economic activity… Without blockchain-based solutions, the metaverse is not possible,” write the authors.

On the blockchain

The think tank and memo were unveiled amid a big strategic pivot for Improbable. The company has developed virtual worlds for over a decade, but recently shifted to focus exclusively on the commercial metaverse.

As part of the shift, the Softbank-backed firm has abandoned plans to build its own video games. In December, the company also shuttered its US defence arm, which provided war-gaming simulations for military forces.

The subsidiary’s former president, Caitlin Dohrman, said Improbable had decided to “refocus on its commercial metaverse business” amid a need “to accelerate its path to profitability.”

Instead of in-house games and defence, Improbable is now concentrating on metaverse infrastructure. A key component of this effort involves blockchain tech.

In September, the Financial Times reported that Improbable was closing in on a new €100m funding round, which would value the company at more than €3bn. The round was led by Elrond, a blockchain company.

Improbable is also developing M2, a blockchain-enabled network of interoperable metaverses, and is collaborating with the company behind the Bored Ape NFTs on a virtual world project.

The pivot to a blockchain-powered metaverse aims to end Improbable’s operating losses. Narula says he expects the company to be profitable in 2023.

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