Metaverse News — August #1

Stay updated with the latest Metaverse News in our weekly rollup, covering immersive experiences, blockchain technologies, and virtual worlds.

1. Tech giants including Apple, Pixar, and Nvidia have formed the Alliance for OpenUSD (AOUSD) to develop and standardize Pixar’s Universal Scene Description (USD) technology. USD is a file format that facilitates the seamless movement of work across various tools, making it easier to create 3D content for gaming, animation, and metaverse experiences. The alliance aims to promote interoperability of 3D content and facilitate collaboration among industries relying on 3D data. With support from companies like Epic Games, Unity, and Foundry, the alliance plans to develop written specifications to encourage adoption and integration of OpenUSD. However, notable absences like Meta (formerly Facebook) and Google suggest potential competing efforts in the industry. Despite this, AOUSD’s formation signals a significant move towards standardization in 3D content creation pipelines. Read more on metanews.com, published on 05.08.2023.
2. The gaming industry has undergone a major transformation with the emergence of GameFi, a fusion of gaming and decentralized finance (DeFi) powered by NFTs and blockchain technology. Crypto games have created a new market valued at over $27B in 2022, attracting significant venture capital funding of $5.4B in 2022 alone. Play-to-earn gaming, introduced by Axie Infinity, has revolutionized the concept of true ownership, allowing players to earn real rewards and trade in-game assets as NFTs. The metaverse has also seen significant growth, offering immersive user experiences and new investment opportunities. While challenges and risks remain, the future of blockchain gaming appears bright, with AAA-quality games and widespread adoption on the horizon. Read more on mpost.io , published on 01.08.2023.
3. NFT company Yuga Labs is acquiring Roar Studios, a metaverse-building startup, to advance its Otherside metaverse project. The global food and beverage NFT market is predicted to surpass $2 billion by 2032, with brands like Pizza Hut and Papa John’s already exploring NFT collections. The Sandbox partners with The British Museum to offer immersive experiences in world history. Bruce Lee’s avatar will teach martial arts in the metaverse through a tribute event hosted by Byte Dance. Animoca Brands founder sees customizable NFT-styled crypto debit cards as the future of Web3. Etihad Airways plans to launch an NFT staking loyalty program called Horizon Club. Read more on cointelegraph.com, published on 02.08.2023.
4. Virtual Reality Therapy by XRHealth reduces stress and anxiety in patients by 34%: A recent study published in Cell reveals that XRHealth’s VR technology led to a significant decrease in stress and anxiety, with a significant reduction in stress levels for patients. The therapy, conducted solely in the metaverse, showed promising results, particularly among female patients and those aged 18–24. XRHealth aims to provide accessible and engaging mental health treatments through virtual reality, offering patients multiple therapeutic options from the comfort of their homes. The study demonstrates the potential of virtual reality therapy in addressing prevalent anxiety disorders and promoting mental well-being. Read more on metaverseinsider.tech, published on 03.08.2023.
5. GigXR, a leading immersive learning platform, has partnered with DICOM Director to introduce DICOM XR Library, offering hyper-realistic 3D medical imagery derived from MRI and CT scans. The application aims to enhance medical training, teaching, and simulation by providing a 360-degree view of pathology and injuries in diagnostic imaging. Learners can explore holographic medical imagery to better prepare for real-life patient assessments and diagnoses, making it a valuable tool for medical and nursing schools, hospitals, and the Department of Defense. The platform enables instructors to curate custom libraries of complementary applications, further empowering learners in their immersive medical education journey. Read more on metaverseinsider.tech, published on 04.08.2023.
6. The Sandbox, an Ethereum metaverse game, is launching officially licensed Elvis Presley NFT avatars to celebrate the music icon’s legacy. The collection features 3,000 avatars with outfits and dance moves from Elvis’ career. Avatars are playable in future multiplayer experiences and offer exclusive metaverse content. The public sale begins on August 9, with four rarity levels priced at 100 SAND each. Holders gain governance rights in the Elvis Legacy Council DAO. The release coincides with a digital celebration of Elvis’ legacy, featuring livestreamed concerts and a virtual tour of Graceland. The Sandbox also plans an official Elvis metaverse space. Read more on finance.yahoo.com, published on 03.08.2023.

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