metaverse - Tech News from Simmons Systems (Page 2)

Tech News from Simmons Systems

metaverse

A collection of 87 posts

Mozilla Acquires Active Replica to Expand Virtual Hubs Platform

Mozilla purchases Active Replica, a startup building virtual event spaces, to enhance its open-source Hubs virtual reality chatroom service. The acquisition brings experienced AR/VR founders to Mozilla to improve onboarding and introduce new interaction capabilities.

Major Tech Companies Slash Thousands of Jobs Amid Economic Downturn

Tech giants like Meta and Twitter are eliminating thousands of positions as the industry faces declining revenue and rising inflation. These massive layoffs mark a sharp reversal from the rapid hiring sprees seen during the pandemic.

Investors Frustrated as Meta Stock Plummets 72% Over Metaverse Spending

Meta's stock drops to its lowest level since 2015 as Mark Zuckerberg's massive metaverse investments ignore shareholder demands for profit. Because of a dual-class share structure, investors find themselves powerless to change the company's direction.

Meta Stock Plunges 25% as Ad Slump and Metaverse Bets Devastate Earnings

Meta's stock drops to 2016 levels after a weak third-quarter earnings report shows declining revenue and massive metaverse investments. The tech giant faces compounded pressure from an advertising slowdown, Apple's privacy changes, and a strong U.S. dollar.

Animoca Brands Chairman Says Meta's $10B Metaverse Bet Falls Short

Animoca Brands co-founder Yat Siu argues that Meta's $10 billion annual metaverse investment is insufficient to compete with the economic freedom of open web3 platforms like The Sandbox.

Meta's Massive Stock Plunge Fails to Deter Zuckerberg's Metaverse Investment

Despite a devastating 20 percent stock drop and massive market value losses, Mark Zuckerberg maintains total control over Meta and continues to pour billions into his metaverse vision.

Meta Urges Court to Dismiss FTC Complaint Over VR Fitness App Acquisition

Meta asks a federal court to dismiss the FTC's antitrust complaint regarding its acquisition of the VR fitness app maker Within. The company argues the agency weakened its case by dropping claims that Meta already competes in the VR fitness market.

Meta Unveils $1,499 Quest Pro Headset and Workplace VR Partnerships

Meta reveals its high-end Quest Pro headset at Connect 2022, partnering with Microsoft to bring productivity apps to virtual reality. The company also announces new business-focused subscriptions and shares that its app store has generated over $1.5 billion.

TechCrunch Reporter Experiences Meta Connect Keynote Inside Horizon Worlds VR

A TechCrunch journalist details the clunky but entertaining experience of watching Zuckerberg's Meta Connect keynote from inside a virtual reality amphitheater. The VR viewing proves more immersive but far less practical for taking notes than a traditional screen.

Inworld AI Secures $50 Million to Build No-Code Virtual Characters

Inworld AI closes a $50 million Series A round to expand its platform that enables the creation of AI-driven virtual characters. The no-code studio allows anyone to design realistic personalities for games and metaverse environments.

Inworld AI Secures $50 Million to Build Intelligent Virtual Characters

Inworld AI raises a $50 million Series A round to develop AI-powered virtual characters for video games and metaverse platforms. The Disney-backed startup aims to replace scripted non-playable characters with dynamic personalities.

Zepeto Creator Naver Z Invests in Motion Capture Firm Rokoko

Naver Z, the company behind the 3D-avatar app Zepeto, leads a $3 million strategic investment into affordable motion capture company Rokoko. The partnership aims to supercharge Rokoko's expansion into Asia and allow animators to monetize their work within the Zepeto ecosystem.

Match Group Scraps Tinder Metaverse Plans Amid Executive Shake-Up

Match Group is abandoning Tinder's crypto and metaverse dating ambitions following disappointing quarterly earnings and the sudden departure of CEO Renate Nyborg.

Meta AI NLLB-200 Model Translates 200 Languages with 44% Quality Boost

Meta releases a new single AI model called NLLB-200 that translates 200 languages with a 44 percent increase in translation quality compared to previous technology.

Meta Unveils Make-A-Scene AI That Combines Sketches and Text for Image Generation

Meta introduces Make-A-Scene, a new generative AI system that allows artists to control image creation using both text prompts and freeform sketches. The tool solves the randomness of text-only AI by letting users dictate exact scene layouts.