Weekly Recap

Weekly News Recap (May 24)

Sophie Thi - May 24, 2022 - 3 min read
Courtesy of The Verge

Hi All,

Happy start of the week 😎

Here are the top industry news stories in AR and tech:

Apple reportedly chose a standalone AR / VR headset over a more powerful tethered design

That choice has had long-term effects on the development of the headset. “By the time the decision was made, the device’s multiple chips had already been in development for several years, making it impossible to go back to the drawing board to create, say, a single chip to handle all the headset’s tasks,” The Information reported. (The Verge)

Sony readies for metaverse revolution with cross-platform push

Sony's game, music and movie units contributed two-thirds of operating income in March, underscoring the group's transformation from a consumer electronics maker into a metaverse-ready entertainment juggernaut under Yoshida and predecessor Kazuo Hirai. (Reuters)

Snapchat’s latest viral AR effect underlines its nous and understanding of AR elements

This effect, called simply ‘Crying’ makes you look, as it sounds like you’re crying. Since launching just last week, over 180 million Snapchatters have engaged with the Crying Lens – using it, in total, a whopping 1.3 billion times. (Social Media Today)

Wonder Interactive’s The Immersive Web will play Unreal 4 games on the web

St. Louis believes his company is an infrastructure firm that will provide the onramp to the metaverse, the universe of virtual worlds that are all interconnected. But first things first. St. Louis wants to get Unreal Engine 4 games, and eventually, Unreal Engine 5 games, to run on the web. (Venture Beat)

‘Move-to-earn’ Solana app StepN is latest crypto gaming craze

Over time, StepN users will need to accumulate new kicks to level up. The usual return on investment requires about a month, upon which people can start generating income of up to several thousand dollars per day depending on their level, activeness and the current price of StepN tokens. In other words, the game can be quite lucrative. (Tech Crunch)

Lacoste settles into new avenue des Champs Elysées largest flapship

Lacoste has just kicked open the doors on its new flagship store nestled in Avenue des Champs-Élysées in Paris. The 1600 m2 store offers a variety of experiences, including three AR experiences, tailored to the brand's diverse fanbase. (Lacoste)

Balenciaga hosts its Spring fashion show at the New York stock exchange

Balenciaga hosted its spring 2023 fashion show on the trading floor of the New York Stock Exchange on Sunday, in a symbolic move before the fashion house moves to start accepting certain cryptocurrencies as payment. (Bloomberg)

People can't explain what the metaverse is but are very excited for it

74% of the people surveyed have heard of the metaverse, which is nearly double from the year prior. The same percentage also thinks that the metaverse "is the future." And yet only 15% of those folks say that they "know what the metaverse is and can explain it to someone else." (PC Gamer)

How Seoul is creating a metaverse for a smarter city

The city of Seoul, South Korea, is planting the seeds for a metaverse ecosystem called “Metaverse Seoul” for all areas of its municipal administration. The effort combines digital twins, virtual reality (VR) and collaboration to improve city services and planning, administration and support for virtual tourism. (Venture Beat)

Sophie Thi
Content & Community Manager
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