Will Facebook’s Metaverse Come to Life? Comments Off on Will Facebook’s Metaverse Come to Life? 299

From Gen Z Corner, The Block Talk’s interns tackle topics from the perspective of young consumers.

Facebook, which rebranded to Meta in 2021, took a leap toward building their metaverse last December by making their world-building app called Horizon Worlds available for everyone in the U.S.  

Horizon Worlds is Meta’s take on popular games such as Minecraft and Roblox where users can create and share their curated worlds in different game modes. 

Facebook’s version boasts 300,000 registered users and currently has over 1,000 reviews on the official Oculus Quest store with roughly a 3/5-star rating. The app is just one in Meta’s vision of the metaverse which includes Horizon Home, a virtual home VR experience and Spark AR, a powerful artificial reality software. This is all in scope of Meta’s commitment to make the metaverse a “hybrid of today’s online social experiences, sometimes expanded into three dimensions or projected into the physical world.” 

But the economics of the situation aren’t all rosy. Last month Game Developer reported that Meta has lost 3 billion on its Reality Labs division on just this year’s first quarter while only managing 534 million in revenue. 

And there are still reservations on whether or not the metaverse is entirely needed, or whether the mental health implications of socializing in virtual worlds are worth the investment. Researchers have long considered the psychological implications of escaping from physical reality, which may include depressive symptoms

Regardless of where we stand on metaverse ethics, the proverbial cat is already out of the bag. According to a February 2021 survey by Statista, the typical U.S. adult currently spends roughly 8 hours a day using the internet in some capacity and an appetite for virtual reality is already established.  

In 2017, VR Chat was released on Steam, the biggest digital game distributor. At the time of this writing, it has about 20,000 users and had an all-time peak of 42,500 concurrent players according to steam charts. It also retains a 90% overall positive user rating. It touts limitless creative possibilities, user-created content, personalized worlds, customizable avatars and more. VR Chat is but one of the many promising VR experiences out now, but it still is a far cry from one of the biggest metaverses out there, Roblox 

Launched in 2006, Roblox has  43.2 million daily active users which by April of last year increased its users by 202 million. In another report by Statista, Roblox generated 1.9 billion dollars in 2021. Seeing these kind of numbers is an indicator that success of the metaverse is simply an inevitable matter of time. 

In 2016, Roblox implemented VR. It’s predicted that the VR market size will grow to 87 billion dollars by 2030. Meanwhile, experts are predicting a 54 percent increase of VR devices demand.  

Whether or not Facebook will own the metaverse is yet to be seen but the fact is that the metaverse is already here. The questions now aren’t about if the metaverse will be adopted. The questions are how and when.  

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Jacob Flores is an intern at The Block Talk and a writer for Gen Z Corner, a platform for exploring Web3 implications through the eyes of Gen Z.

DiscoveryIoT – Introducing the World’s First Blockless DAG IoT Network 3 2100

[Birkirkara, Malta, August 12] Looking to disrupt a trillion dollar market, Discovery is setting up an IoT network targeting supply chain businesses. Discovery is set to revolutionize the traditional supply chain network through its innovative solution by bringing together blockchain technology, AI and IoT. The core of the Discovery network is comprised of three layers, the Cliot IoT tag, the user community and the data analytics/Artificial Intelligence engine.  

Cliot is a groundbreaking innovation being carried out at the smallest scale.  It is an IoT tag that utilizes backscatter technology to absorb surrounding electromagnetic waves (Cellular) to power itself up. Being developed at a cost as low as $0.10 per tag, Cliot lends itself to be a highly scalable solution for tracking everyday products. Cliot is being developed to communicate with devices within 30m range. In addition, it can also house a variety of sensors like temperature sensor, accelerometer etc., depending on various purposes.

The user community is a community of smartphone users that have the Discovery application installed on their phones. These smartphones act as nodes in the network with which Cliot communicates and transmits data over WiFi or Bluetooth. The communication automatically takes place without the active involvement of any user once the phone is in Cliot’s vicinity. Once the data is transmitted to the phones, the data is then transferred to the central server via the phone’s cellular network.  

Data analytics forms the third layer wherein the data received from the Cliot is processed using edge computing at the smartphones and sent to the cloud to capture useful insights about the processes in the supply chain. These insights ultimately help in strategizing businesses as well as in maintaining the quality of the products in supply chain. There is also an AI engine built into this layer, to give meaningful and predictive information to clients about their supply chain.

The Utility of Discovery Network

Streamlining supply chain provides businesses an opportunity to improve revenues as well as reduce waste, without having to suffer great amount of revenue loss through stock-outs, stock-obsolescence, untimely delivery, poor product quality, etc. Therefore, in the developed economies where retail is organized, Discovery’s solution provides optimization of businesses by giving access to deep insights from the sales data the network gathers. However, Discovery’s solution has the biggest disruptive potential in the developing economies in Asia and Africa where retail is highly disorganized. It’s almost impossible for clients to access retail data in such markets and the businesses often suffer from issues like stock-outs. Discovery’s network, therefore, has a scope to be a massively successful solution in these markets and its utility can be summarized below:

Low-cost tracking

With the Cliot tag priced at $0.10 and tracking cost as low as $0.04 per product per month, Discovery’s solution is inexpensive compared to the existing solutions available. Being cost effective, the solution can be massively adopted for daily products.

Real-time visibility

Discovery’s solution enables clients to get real-time insight into their stocks and supply chain management. This insight would provide an effective decision-making tool for forming successful business strategies.  

Artificial intelligence

The third layer that forms the Discovery network incorporates AI which enhances the network’s capability by providing clients with predictable and actionable information. This predictive capability can help clients avoid issues like stock-outs while the AI gets smarter as more information is added to Discovery database.

Custom analytics report

The data analytics layer of Discovery can provide clients with customized reports of their sales data according to the unique requirement of each brand.

Customer and retailer relations

As retailers do not receive any direct incentive in sharing sales data, they are likely not motivated to do so. In addition, it is not possible to know the retailer performance without having access to the sales data. With Discovery’s solution, companies do not have to deal with retailers as the products tagged with Cliot transmit relevant data.

Besides the utility that Discovery network allows for clients, the user community who facilitates the network’s expansion is also benefited in the following ways:

Instant rewards

The community members who lend their data to the Discovery’s network are rewarded on a daily basis without any delay.

Passive Income

The network is built such that community members are not required to be actively involved in the data collection from Cliot. The Discovery application only needs to be run in the background which can automatically pair up with Cliot tag as the user is in its vicinity.

Guaranteed security

The data collected through Discovery network is de-granularized and individually identifiable information is not shared, thus ensuring highest level of privacy and security.

Control over the data limit

Discovery provides users an option to configure the data limit according to user preferences in the application and it also allows them to set geographical limitations.

If you would like more information about this topic, please contact Selvam VMS through selvam.vms (at the rate) discoveryiot.com .

Source: Esthan, a tech PR Firm, and an Official PR partner of DiscoveryIoT

Contact: Sharon Pradhan
Phone: 905-728-5982
Email: sharon@esthan.com

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