To the Metaverse and Beyond! Whats next for Gen Z and Music?
In this online environment, users are represented by avatars and spend time in virtual worlds, making use of virtual reality (VR) headsets. It is certainly possible that Meta could extend this access to teens elsewhere in the world. When the concept of a metaverse rose to prominence 2021, the telecoms industry was understandably energised – here was a major new driver of demand.
Scriptic is one of the first entertainment companies to leverage generative AI tools in a production capacity, having first used ChatGPT and DALL-E in 2021 to help with content production. As such, gaming is now a critical key battlefield for the big tech tech companies seeking to dominate the metaverse and digital economy involving billions of users. Luxury fashion brands are amongst those proactively exploring ways in which the blockchain can be leveraged to allow users to buy and trade their goods in the metaverse. A user’s avatar can enjoy showing off a limited edition, virtual handbag, and while any user could save an image of it, the owner can prove it is uniquely theirs, thanks to the blockchain.
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MANA, Decantraland’s token, is 92% down at the time of writing from its November 2021 peak. Listen to the Future of Media Explained podcast to hear more from Jane Wolfson and Mark McCafferty about how they are using new technologies at HearstX. The Elle UK editorial team including editor Kenya Hunt will help to ensure the influencer’s look and feel is representative of the brand’s audience. “I do think longer term there is definite revenue potential which is very big and I think that’s the way we need to focus on it.
- Elsewhere, the United Arab Emirates’ Ministry of Economy is opening up its own headquarters in the metaverse, describing the digital world as its “third address” (following two physical offices in Abu Dhabi and Dubai).
- Roblox is also testing a similar tool that will allow players to create virtual items (e.g., buildings, terrain, and avatars) by typing their requirements in natural language rather than complex code.
- Generative AI will enable intuitive and natural creation via text-to-object generators as it can increase creator productivity.
- Business models on today’s internet rely heavily on leveraging user data to push highly personalized content to maximize scroll time.
According to the company’s latest survey, 75% of users are open to dating using video applications, compared to only 6% before the pandemic. In June 2021, the company acquired Hyperconnect, a South Korean
video, AI, and AR technology company, to establish a presence in the next generation of the Internet. Using Hyperconnect’s genrative ai technology, the company launched live streaming, an interactive discovery experience, and online video cafes for its numerous apps. Hyperconnect’s
app Hakuna Live already provides group live video and audio services, as well as avatar-based streaming, in South Korea, Japan, and other Asian markets.
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ChatGPT acts as an AI language model trained to understand and respond in human language. Fascination with what Generative AI can do and using it has become much more commonplace because of its accessible nature. ChatGPT has taken the world by storm with its latest development, ChatGPT-4, as it’s been proven capable of genrative ai things like designing websites, games, passing bar exams, and much more. Some argue that even though the excitement has tapered off, it doesn’t mean that the Metaverse is not going ahead. The Metaverse, like most things, was once the “shiny new thing,” but now that attention is on ChatGPT, it’s been talked about less.
A prolific businessman and investor, and the founder of several large companies in Israel, the USA and the UAE, Yakov’s corporation comprises over 2,000 employees all over the world. He graduated from the University of Oxford in the UK and Technion in Israel, before moving on to study complex systems science at NECSI in the USA. Yakov has a Masters in Software Development.
Facebook founder and CEO Mark Zuckerberg went as far as renaming the company he founded 18 years ago to Meta Platforms to represent the change of focus to the metaverse. “It’s the biggest tech merger and acquisition in history,” GlobalData principal analyst Rupantar Guha says. The deal would bring the company founded by Bill Gates as a software engineering business closer to the metaverse. When Microsoft boldly announced its $69bn takeover bid, the biggest deal in the history of the business, for games publisher Activision Blizzard last week, the world of gaming was shaken to the core.
‘The S&P 500 is a market-cap-weighted index of the 500 largest publicly traded companies in the United States. That seems to have accelerated dramatically in rrecent months and AI looks as if it will have major, disruptive impact on many walks of life – including the world of investing. The idea is that, eventually, more than 10,000 people would be able to access MSquared. It will initially only be accessible via desktop, however Improbable said the plan is for this to be expanded to mobile devices and consoles by the end of the year. The majority — 65%, according to McCrindle Research — will work in jobs that don’t even exist yet.
We are still technically a long way from the Ready Player One vision of the Metaverse, but mixed reality might provide a more realistic steppingstone toward the fully-fledged VR experience. For some, it is a decentralised virtual anarchy, for others a virtual office and maybe 3D extension of social media. The hype around blockchain-based Metaverse experiences was an extension of the promise of web3. The trouble is that the technology simply isn’t ready, but that didn’t stop a speculative frenzy that saw plots of land exchanged for eye-watering sums.
Spray cans scattered across the map allow players to adorn the streets with vibrant paint inspired by Chupa Chups flavours to encourage creative expression and collaborative artistic endeavours. A very interesting feature is that Your characters can show their personalities using different communication ways such as making expressions, speaking, and doing actions. All this is done using Multimodal AI which is designed to simulate how humans communicate. Your characters can show their feeling through their expressions and actions which make the game more realistic and enjoyable for users. These qualities make up the entertainment industry, and gaming is also about to take a hit. With the help of AI assistants, all that work could be completed in a few days.
With advancements in healthcare, they’ll enjoy a longer life expectancy, and with remarkable technological progress, they’ll see everything from smart cities to widespread self-driving cars. Entertainment agency and game developer Alice & Smith joined Microsoft at NAB Show in Las Vegas, USA, on April to showcase its solutions for audience engagement and monetisation. Explore other upcoming enterprise technology events and webinars powered by TechForge here.