Apple confirms acquisition of AR startup Mira following Vision Pro launch: Report

June 7, 2023 Coin Telegraph

Apple

While Apple Vision Pro comes with features geared toward personalized virtual reality, Mira’s headsets are purpose-built for industrial applications.

Just a day after launching a new virtual reality (VR) product line, Apple Vision Pro, the tech giant confirmed the acquisition of Mira, an augmented reality (AR) startup that provides hands-free, smartphone-powered headsets.

On June 7, The Verge reported Apple’s latest acquisition was revealed through a private Instagram post shared by Mira CEO Ben Taft, which Apple later confirmed as accurate to the outlet. Expected to hit the market in early 2024, Apple Vision Pro stands as the most expensive mixed-reality gear — currently being priced at $3,499.

While Vision Pro comes packed with innovations geared toward personalized virtual reality, Mira’s headsets are purpose-built for industrial applications. Current use cases include chemical, steel and food manufacturing, mining services and defense. Other prominent implementations include building AR headsets for Universal Studios in Nintendo World theme parks.

Responding to The Verge’s request for comment, Apple stated:

“Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans.”

Mira reportedly raised $17 million in funding in the past from investors including Blue Bear Capital and Sequoia, however, Apple’s investment for the company’s acquisition remains undisclosed.

According to PrivCo data, Mira had a post-money valuation in the range of $50 million to $100 million as of Jul 29, 2020. Moreover, IPqwery confirms that the company holds 14 patents and 8 trademarks.

Apple has not yet responded to Cointelegraph's request for comment.

While Apple decided to explicitly exclude the words “metaverse” or “virtual reality” during Vision Pro’s launch, tech entrepreneurs see the device’s potential to expedite the sub-crypto ecosystem’s adoption.

Along with tech giants, government agencies have also started experimenting with the metaverse. Most recently, the Chinese city of Nanjing inaugurated the China Metaverse Technology and Application Innovation Platform to advance metaverse research and development across the country.

The platform aims to serve as a central hub of resources for metaverse-related endeavors. Other major Chinese cities, including Shanghai, have also launched various metaverse initiatives with the hopes to cash-in annual revenue of 350 billion yuan ($49.6 billion) by 2025.

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Apple’s Vision Pro headset reveal swaps metaverse for ‘spatial computing’

June 6, 2023 Coin Telegraph

Apple

The tech giant finally dropped details of its new pricey mixed-reality headset during the Worldwide Developers Conference, though it made no mention of the word “metaverse.”

Apple’s newly revealed mixed-reality headset, the Apple Vision Pro, has both turned tech-enthusiast heads and raised eyebrows after its unveiling at the WWDC on June 5.

There was however, one glaring omission from the launch — a single mention of the word “metaverse.”

Apple Vision Pro is everything we hoped for and then some.

But at $3,499 you're either an early adopter or a AR/VR developer.

Yet two things change after today:

1. "Metaverse" will stop being a bad word (even though Apple didn't use the word) - sparking a resurgence in… pic.twitter.com/x8FcGsKTbj
— Bilawal Sidhu (@bilawalsidhu) June 5, 2023

The tech company appears to have taken deliberate steps to call its technology the first “spatial computer.” It will be launched in the U.S. in early 2024, for a hefty retail price of $3,499, and will roll out to other countries shortly after.

The announcement is a firm step away from Microsoft’s Hololens launches and that of Meta’s headsets, which both notably used the term generously in comparison.

*Using apps with Apple Vision Pro. Source: Apple*

Instead, Apple’s marketing is focused on the words “spatial” and “spatial computing,” as opposed to words such as “metaverse,” “AR” and "VR.”

“Creating our first spatial computer required invention across nearly every facet of the system,” noted Apple’s vice president of the technology development group, Mike Rockwell.

“Through a tight integration of hardware and software, we designed a standalone spatial computer in a compact wearable form factor that is the most advanced personal electronics device ever,” he said.

*Looking at photos with Apple Vision Pro. Source: Apple*

Back in January 2022, Bloomberg’s Apple tech reporter, Mark Gurman, suggested via Twitter that the firm had no intention of approaching the sector in a similar vein to Mark Zuckerberg’s Meta, particularly relating to the notion of the metaverse.

“I’ve been told pretty directly that the idea of a completely virtual world where users can escape to — like the can in Meta Platforms/Facebook’s vision of the future — is off-limits from Apple,” Gurman said, adding that the firm will place its focus providing a mixed-reality headset intended for use in short bursts for work, gaming, communication, etc.

Apple’s Vision Pro has both augmented reality and virtual reality capabilities, as it can make it look like apps have been projected out into the nearby physical space around the user or provide a fully virtual experience via modes such as Immersive Environments.

“Featuring visionOS, the world’s first spatial operating system, Vision Pro lets users interact with digital content in a way that feels like it is physically present in their space,” the announcement reads.

Anticipation over Apple’s new headset had some investors hoping metaverse-related tokens would see a meteoric rise; however, a new Securities and Exchange Commissionlawsuit on the same day appears to have spoiled optimism for metaverse-related tokens.

According to CoinGecko, the top-ranked metaverse token Internet Computer (ICP) is down 9.5% over the past 24 hours, while second and third-placed The Sandbox (SAND) and Decentraland (MANA) are also down 12.7% and 11.2% apiece.

*Metaverse token prices. Source: CoinGecko*

Going further down the list, there are no projects of note with positive price action over that time frame, with the total market cap for metaverse tokens decreasing by 10% to $7.7 billion over the past 24 hours.

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Metaverse division’s $4B loss drags on positive first quarter for Meta

April 27, 2023 Coin Telegraph

<div>Metaverse division's B loss drags on positive first quarter for Meta</div>

Augmented Reality

Zuckerberg expects Reality Labs operating losses to increase year-over-year in 2023.

Meta suffered a nearly $4 billion loss from its metaverse unit with Reality Labs in what was otherwise a solid first quarter for the Mark Zuckerberg-led social media empire which posted a final profit of $5.7 billion.

While the $4 billion loss follows a $14 billion loss in 2022, Zuckerberg explained in the earnings report that Reality Labs will likely suffer more losses in the remainder of 2023.

“We continue to expect Reality Labs operating losses to increase year-over-year in 2023,” predicted Zuckerberg.

Meta’s metaverse-focused Reality Labs unit suffered another big loss. Source: Meta

The losses suffered by Reality Labs were however negated by the firm’s developments in its artificial intelligence (AI) segment, the firm’s chief executive explained.

"Our AI work is driving good results across our apps and business. We're also becoming more efficient so we can build better products faster and put ourselves in a stronger position to deliver our long-term vision.”

While Zuckerberg recently labeled AI as the firm’s “single largest investment,” he said Meta’s metaverse ambitions remain a top priority for the firm.

“A narrative has developed that we're somehow moving away from focusing on the metaverse vision, so I just want to say up front that that's not accurate." he said before adding, "we've been focusing on both AI and the metaverse for years now and we will continue to focus on both.”

In addition, Zuckerberg explained that metaverse tech will help its AI visions and vice versa.

“Metaverse technology will also help deliver AI as well. For example, embodying AI agents will take advantage of the deep investment that we’ve made in Avatars over the last several years.”

Zuckerberg explained in a Feb. 28 Facebook post that the firm is building a suite of creative and expressive tools that can help “turbocharge” the efficiencies of some of its existing products:

“Over the longer term, we'll focus on developing AI personas that can help people in a variety of ways. We're exploring experiences with text (like chat in WhatsApp and Messenger), with images (like creative Instagram filters and ad formats), and with video and multi-modal experiences.”

Though Zuckerberg stated the firm has “a lot of foundational work to do” before it can provide “really futuristic experiences” for its audience.

Meta stock bounced 11.7% after hours following the news of its better-than-expected first quarter, according to Google Finance:

Meta’s share price bounced back after a strong first quarter. Source: Google Finance

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Firms combine blockchain and AR to develop port maintenance system

April 11, 2023 Coin Telegraph

Augmented Reality

The project aims to increase the traceability of port maintenance operations by implementing blockchain certification.

Blockchain solutions provider Jelurida partnered with augmented reality (AR) firm Aumenta Solutions to develop a maintenance system for port infrastructures.

According to an announcement sent to Cointelegraph, the project aims to increase efficiency, reduce downtime and enhance the accuracy of maintenance tasks for ports which is important in servicing ships, cargo and passengers.

Back in 2020, a research group from the University of Girona and Aumenta Solutions collaborated to develop a blockchain-based maintenance system, combining blockchain certification and AR to increase the traceability of maintenance operations.

At present, Aumenta Solutions and information technology firm MSI are aiming to target the global port infrastructure market with the technology. According to Pere Roset, the managing partner at Aumenta Solutions, their project relies on the blockchain certification program. Roset explained:

“The certification program is an important component of the project, ensuring that maintenance tasks are done properly at the right place and at the right time.”

Francisco Sarrias from Jelurida also commented on the importance of AR for maintenance. Sarrias describes AR as a "game-changer" as it allows workers to access digital information in real time. We are excited to introduce this new technology to the industry and help drive innovation in maintenance processes,” Sarrias noted.

AR has been consistently seen being used within the Web3 space. At the recent Metaverse Fashion Week, a hybrid AR fashion runway was cast at the Piazza of Duomo di Milano, which is one of the most iconic locations in Milan, Italy.

Meanwhile, whisky producer Jack Daniels has also recently created a Web3 campaign utilizing AR and Polygon-based digital collectibles. The campaign will let participants collect digital crates that contain various rewards like gift vouchers and trips to Jack Daniel's distillery.

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Augmented reality helps brands tell their story: MVFW 2023

April 5, 2023 Coin Telegraph

Augmented Reality

During Metaverse Fashion Week 2023, the augmented reality platform — Over — projected a larger-than-life virtual catwalk over one of Milan’s most prominent locations.

The second annual Metaverse Fashion Week (MVFW) hit the virtual runway this year from March 28–31 via a collaboration between Spatial — a 3D social network platform — and Over, a blockchain-based augmented reality (AR) platform.

This year’s event saw over 60 brands, including legacy names such as Dolce & Gabbana, Tommy Hilfiger, DKNY and Gucci. Like last year, the event combined digital runways, panels with industry thought leaders and designers, and afterparties.

However, one of the main attractions occurred on the event’s last day, March 31, when a hybrid AR runway from Over was cast across the Piazza of Duomo di Milano — one of Milan’s most iconic locations.

*Guests watching an AR fashion show on the Piazza of Duomo di Milano. Source: Over*

Diego Di Tommaso, the co-founder and chief operating officer of Over, told Cointelegraph that core components of the fashion industry include projecting identities and creating narratives around brands.

“AR, specifically, is regarded as the new and exciting medium that allows brands to tell their stories and showcase their creations more compellingly and intuitively.”

Tommaso said the “impression, understanding and emotion” that consumers get from an item presented in AR vs. 2D is incomparable. According to the co-founder, AR catwalks, augmented shop windows and AR virtual try-on are only scratching the surface of what’s to come for the fashion industry.

“As soon as consumer-ready smart glasses hit the market, there will be no brand without an AR strategy.”

This AR runway featured large-scale virtual models who paraded across the plaza in cutting-edge digital designs from the participating brands, including Balmain x Space Runners and Pet Liger, part of the Gucci “VAULT” project. Even some notable Bored Ape Yacht Club personalities walked the runway.

Bored in Piazza del Duomo, the heart of Milan (Italy)… 1st time ever I signed my APE for the opening of @OVRtheReality Metaverse Fashion week!
How did I do @CryptoGarga @GordonGoner @BoredApeYC @apecoin ? pic.twitter.com/WU6ZPKNqO9
— giacastyle.eth (@giacastyle) April 2, 2023

Over shared with Cointelegraph that guests called the event a “new level of experience,” bringing digital fashion to a “whole new stage.”

Dave Carr, the head of creative strategy and partnership at Over, told Cointelegraph that AR differs from the metaverse because viewers don’t have to sit in front of a computer or strap on an “unwieldy VR headset” to have the experience.

“With AR, the metaverse comes to you. You can be present among real people while enhancing your surroundings with amazing immersive digital content.”

Carr hinted that future developments from Over would even allow engagement with the AR models through speaking and deciding on outfits, indicating “huge implications for brands and retailers.”

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Report: China Will Become a Metaverse Tech Leader During 2023

March 20, 2023 Bitcoin.com

Meta Will Continue to Push Metaverse Investments in 2023 According to Head Of Reality Labs

December 20, 2022 Bitcoin.com

More than 90% of consumers are curious about the Metaverse: Capgemini

December 8, 2022 Coin Telegraph

Augmented Reality

The volatility of the crypto market hasn’t stopped the metaverse from gaining potential as a utility for businesses and consumers alike.

Despite turbulent market conditions over the last year, the metaverse and its potential utility remain steady in the minds of consumers.

According to data from a new survey by Capgemini, a business and technology strategy advisor, over three-quarters of consumers expect their interactions with brands and individuals to be impacted by the metaverse.

This also goes for organizations, as 7 out of 10 believe that the metaverse and immersive experiences will be a market differentiator in terms of customer experience.

The report surveyed 8,000 consumers, along with 1,000 organizations in 12 countries across different sectors to understand metaverse competency, interest and impact.

Included in the mix was a group of 380 consumers who self-identified as “metaverse-experienced,” of which three-quarters said they actively participate in the metaverse.

Data revealed that 93% of surveyed consumers said they are curious about the metaverse. Of that number, 51% said they would use the metaverse as it becomes more accessible to them.

Charlton Monsanto, the global immersive experiences offer leader at Capgemini, said the “consumer-facing metaverse” needs to address the challenges of accessibility and privacy among other things in order to move forward.

“The potential of the metaverse is transformative and consumer curiosity remains high."

Education and accessibility go hand in hand for emerging technologies and remain the biggest challenges for tech-savvy brands to communicate with consumers.

The survey also touched on the type of metaverse interactions consumers look for, to which 43% of respondents said they would like to interact with friends and family. This was followed by interactions with colleagues (39%), gaming-related experiences (33%), and commercial activity (28%).

With such an emphasis on connectivity, development in the metaverse has seen a rise in events which allow people to connect with one another, such as festivals and concerts.

Entire nations have even begun using the metaverse to preserve their heritage for future communities to interact with.

Recently, the metaverse developer Animoca Brands announced they will open up a billion-dollar metaverse development fund for startups in the space.

Apple job listings and patents hint at foray into ‘3D mixed-reality world’

November 15, 2022 Coin Telegraph

Apple

A “mixed-reality world” by Apple could be fast approaching as recent job openings show the tech giant is hiring a number of engineers with AR and VR experience.

Technology giant Apple appears to be working towards the development of a metaverse-sounding “3D mixed-reality world,” according to related patent filings and recent job postings.

Since Nov. 1, over 30 jobs have been listed on Apple’s careers page related to augmented and virtual reality (AR/VR) with the Big Tech player seeking a mix of software and hardware engineers to be mostly based in its Technology Development Group (TDG).

TDG is a secretive team within Apple that may reportedly stem as far back as 2017, which is understood to be working on developing AR and VR technology. Apple has never officially confirmed such a device was in the works, though it is widely considered a tech industry “open secret.”

While Apple is currently hiring for over 150 positions according to its careers page, one particular job opening from August makes particular mention to a type of “3D mixed-reality world”.

The job ad is for an AR/VR network engineer, with part of the description reading:

“In this role you will work closely with other developers and build tools and frameworks to enable connected experiences in a 3D mixed-reality world.”

A Nov. 9 Digitimes report citing unnamed sources said an Apple AR/VR headset will be assembled by Taiwanese electronics firm Pegatron — a company Apple currently uses for its iPhone 14 device — with mass production expected in Q1 2023.

A spokesperson for Pegatron told Cointelegraph it was “not able to comment on information related to a specific customer or product due to confidentiality.”

Cointelegraph contacted Apple for comment but did not receive a response.

Meanwhile, patent filings from the United States Patent and Trademark Office (USPTO) reveal in August that Apple trademarked “Reality One” and “Reality Pro”, both described as “photographic and optical apparatus and instruments” and “virtual and augmented reality headsets, goggles, and glasses.”

The filings were made under a Delaware shell company called “Immersive Health Solutions LLC”, a tactic often used by large companies such as Apple in an attempt to keep their future product plans private.

A search of Delaware’s business entities shows the company was created on Feb. 11 by “The Corporation Trust Company” the world’s largest registered agent service firm used by Apple and other well-known companies such as Google, Walmart, and Coca-Cola.

The same firm was used in a trademark application for a “RealityOS” in Dec. 2021 in what’s believed to be Apple’s operating system used for its reported upcoming headset.

Other trademark filings, such as one made in China under Apple Inc., show a haptic “VR glove” tracking the movement of individual fingers which further point to the company’s play at a possible Metaverse space.

Apple CEO Tim Cook has already stated his thoughts on the Metaverse, on a Q1 2022 earnings call in January when asked about the company’s Metaverse opportunities said “we see a lot of potential in this space and are investing accordingly.”

Multiple reports emerged in Jan. 2022 that Apple was slated to release the headset during its June Worldwide Developer Conference but didn’t come to fruition due to a series of development challenges.

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Augmented Reality

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