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Business January 29, 2022

IOT is introducing its technology into the metaverse

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The IoT (Internet of Things) has come a long way from a vending machine and a toaster to smart cities and connected cars. Despite IoT’s prevalence today, many people are still unaware of the technology.

In a broad sense, the Internet of Things is a massive network of interconnected objects that exchange data across a wired or wireless network. By 2025, Insider Intelligence predicts 3.74 billion IoT mobile connections worldwide. With more than 64 billion Internet of Things devices installed by 2026.

IoT

MetaNews.

IoT After Covid-19

Covid-19 affected different segments of the Internet of Things in different ways. As a result of the epidemic, several companies reported a 50% drop in new orders as their clients’ budgets and IoT expenditures shrank. Customers’ expenditure in various other IoT areas. Such as IoT hardware and IoT cloud/infrastructure services, climbed 5.4 percent and 34.7 percent, respectively, as a result of the epidemic.

Overall, global enterprise spending on IoT increased by 12.1 percent year over year to USD 128.9 billion. China’s enterprise IoT investment is expected to climb by 23.5 percent in 2020. Which is double the worldwide average, because to its Zero-Covid policy, which helped the country weather the epidemic effectively. The Internet of Things market is re-accelerating as the impact of the epidemic fades.

According to Internet of Things Analytics, between 2022 and 2025. Internet of Things spending would grow at a CAGR of 26.7 percent due to the increased use of digital technology.

IoT and the metaverse

The desire for more complex Internet of Things systems will rise as the Metaverse. And its immersive virtual environment become more popular. Many have stated that AR, rather than VR, is the actual metaverse buzz.

The capacity to stay connected across the virtual and real worlds is critical in driving increasing IoT spending demand. While XR will blur the border between reality and virtuality in the future. The metaverse will need to rely on Internet of Things devices like sensors and wearables to do so (sensor gloves, head-mounted devices, glasses, etc.).

SmartMesh

We’re excited to announce that Henry Wang, the Founder and CEO of SmartMesh, will be one of the speakers on EqualOcean’s next webinar, Industry Projections for the Metaverse in 2022 and Beyond.

SmartMesh is a blockchain-based Internet of Things underlying protocol. SmartMesh enables internet-free digital transactions by incorporating blockchain lite nodes and expanding the Raiden and Lightning Networks second layer architecture network protocols. In addition also uses blockchain-based token incentives to allow agile, decentralized Mesh Networks.

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The Metaverse Work Week Has Already Arrived

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An experiment to see whether it was possible to work a whole week in the metaverse was ‘a runaway success’ according to a recent product test of the Meta Quest Pro.

During the course of the 7-day trial, Pete Matheson used his VR headset for 6-8 hours a day and became part of an online community of fellow metaverse workers.

“I made friends, I had fun, I actually had productive meetings,” said Matheson about his experience. 

The reviewer also highlighted complications that occurred over the course of the week that could prove to be dealbreakers for some. 

Pete Matheson’s virtual work desk

IMAGE: Pete Matheson’s virtual work desk

7 days in the metaverse

One of the key claims about the metaverse is that it could revolutionize the way we work, but with headsets such as the Meta Quest Pro currently retailing at $1,500 in the US, consumers may be cautious about making a costly leap to VR.

Pete Matheson, who tests and reviews tech products on his YouTube channel, set to find out whether working full-time in the metaverse was actually possible. In his opinion, the answer was a resounding yes.

In particular, Matheson used a free networking app, called Immersed, to connect with an online community of fellow metaverse workers. Matheson described the community as a “VR version of WeWork but way cooler.”

Working in the virtual environment allowed Matheson to greatly increase the amount of deskspace he could work from, spawning up to five screens of virtual monitor space, while simultaneously connecting with like-minded workers from around the world. 

“I explored some public areas and ended up hanging out with a group of people who were just all socially working,” said Matheson who added, “It was the nearest I’ve had to working in a busy social office since I sold my IT business back in 2020.”

There were also some issues discovered during the test. The weight of the Meta Quest Pro was one issue, with the helmet leaving a red mark on his face after use. Another was the short battery life of the headset and its heavy-duty recharge cable. Matheson overcame the problem by using a lightweight Apple cable in its place.

Red mark caused by prolonged use of the Meta Quest Pro.

While Matheson reported absolutely no issues with eye strain or headaches over his trial, other users have been less fortunate.

One study even suggests that some people will be unable to enter the metaverse in any meaningful way.

The metaverse may leave some people behind

While some people are already making the transition to the metaverse work week there are others who may struggle to follow.

Jens Grubert at Coburg University in Germany recruited 18 men and women for a small-scale study of “virtual working”. On the first day of the trial, two participants dropped out reporting migraines and nausea. 

This condition has coined the phrase “cybersickness,” which is believed to have commonalities with motion sickness. 

The remaining 16 participants reported increased anxiety and frustration at the end of the five-day trial. On average users self-reported 19% more anxiety, 48% more eye strain and 16% lower productivity.

Grubert believes that some of these challenges can be overcome by improving technology.

“You will have higher resolution, you might have more lightweight designs,” he told New Scientist earlier this year. “So this might address some issues that we found in our research so far, but you will still have inherent problems.”

If these inherent problems cannot be overcome or mitigated significantly then some may find themselves simply unable to use the technology, and if the metaverse is to be as revolutionary to our way of life as its proponents claim, then what will happen to those who are left behind?

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Elvantis unveils a metaverse NFT game with monetization features

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Elvantis has revealed plans to build a metaverse-inspired online NFT game with endless art for players and NFT aficionados. The game ecosystem blends the best features of gaming with the addicting excitement of collecting digital valuables.

ELVANTIS metaverse

Players can explore a metaverse centered on a gripping story and collect NFT to add to their collection. They can then utilize their treasures to increase the strength of their avatars. Or exchange them for cryptocurrency on the Intergalactic Marketplace.

The game, inspired by the metaverse, offers unique characters and stories. As well as cutting-edge graphics and animations, with the goal of providing a joyful digital experience. The site will have a plethora of interesting mini-games and features that will allow users to mix talent, luck, and investment to expand their NFT collections and crypto revenues.

The official launch of the ELV token, as well as the sale of NFTs, is planned for early February 2022. The presale of ULTRAGLOW, a rare and highly sought-after Xspace NFT, will begin on February 1 at 23:00 UTC. The Lands presale will begin on February 2nd, just a few days later.

Then, on February 4, investors will be invited to participate in the public token sale. Participants will be able to buy and claim up to 100% of their VLE and NTF tokens at this event.

Following the conclusion of the pre-sale events, the team will provide liquidity to Pancakesawp and publish the date for registration and market opening on other exchanges.

Metaverse monetization.

Users can traverse the digital universe as a bounty hunter in search of the finest Alien. Players can unearth intergalactic treasure chests containing uncommon and valuable goods while traveling through space.

Rare NFT holders can exchange their items for cryptocurrency or use them to outfit their avatars with the gear they need to explore the cosmos. The more a player travels into space, the more probable it is that they may come across the rarest and most precious things in chests and adventures.

Bounty hunters can also acquire equipment and talents that improve their Alien’s ability to explore and gain access to rarer things that give higher crypto prizes. Elvantis users can also improve their revenue by setting up a farm that allows their NFTs to grow passively.

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T-Series announces partnership with Hungama for its NFT launch

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T-Series has collaborated with Hefty Entertainment, a division of Hungama Digital Media to put in place some digital art pieces and Non-fungible tokens(NFTs) for some of their movies.

The two entertainment industry behemoths have collaborated on some of the best films, albums, videos, and games. They are optimistic enough to continue the process as the initial movers in the sphere.

T-Series

MetaNews.

Both companies are in the process of making the digital arts for their first NFT drop

Both companies are in the midst of creating digital arts for their debut NFT release. Vector digital creative arts from Akshay Kumar’s Bhoolbhulaiyaa. Certain graphics from Aashiqui 2, and a forthcoming film ‘Radhe Shyam’ would be among them.

“We look forward to extending and enhancing the value of our content that leads to further and rapid expansions of the global digital entertainment industry,” said Bhushan Kumar, T-Series’ CMD.

Hungama will create NFTs, “money can’t purchase experiences”. Moreover rare collectibles as part of the partnership, as well as release exclusive scenes or moments from T-Series’ existing or new material.

“We are happy to be first movers into the metaverse of entertainment,” stated Hungama founder Neeraj Roy. “We look forward to reimagining content with our web 3.0 project as we uncover new ways to cooperate. In addition communicate with fans,” he continued.

Hungama claims to have 90 million monthly audiences spanning gaming, video, and music, whereas YouTube claims to have the world’s greatest fanbase (395 million).

The two giants are going to leverage their extensive distribution network globally

The two entertainment behemoths in India will take advantage of their huge global distribution networks. They have a combined library of more than 2 lakh songs, 65000 music videos, 150 movies in multiple Indian languages, and much more.

Both companies will undoubtedly capitalize on the large fan base they have amassed over the last few decades.

This duo’s partnership has already generated a lot of talk. People expect the same level of efficiency in the creation of digital arts as they do in the creation of all other forms of art. Furthermore, NFTs have established themselves in a variety of industries; nonetheless, the alliance will give them a head start in India’s entertainment sector.

The Hefty metaverse will be built with the goal of engaging audiences in a more expressive manner. T-Series and Hungama are both working on bringing customers into the metaverse.

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