News
Metaverse is gigantic $30 trillion upcoming revolution!
According to a 2018 report from Goldman Sachs, the global virtual economy is expected to reach $2.7 trillion by 2025 and could be worth as much as $7.5 trillion by 2030. It is likely that the metaverse economy will be worth a significant amount by 2035.
What will be economy of metaverse worth in 2035?
It is impossible to accurately predict the economy of the metaverse in 2035 since it is still in its early stages of development. However, as the technology becomes more widespread, the economic value of the metaverse is expected to grow significantly. According to a 2018 report from Goldman Sachs, the global virtual economy is expected to reach $2.7 trillion by 2025 and could be worth as much as $7.5 trillion by 2030. It is likely that the metaverse economy will be worth a significant amount by 2035.
What is Metaverse, by the way?
Metaverse is a decentralized, open-source blockchain platform for digital asset creation, issuance, and circulation. It is designed to provide an ecosystem for digital finance and decentralized applications. With Metaverse, users can create and manage digital identities, issue digital assets, and build decentralized applications. The platform is powered by a native cryptocurrency, called Metaverse ETP (ETP).
And what is Virtual World
Virtual Worlds are computer-based simulated environments that allow users to interact with one another in a 3D world. They are often used for social networking, entertainment, education, and corporate training. Virtual Worlds may include elements such as 3D avatars, virtual currency, virtual goods, and customizable environments.
How creators can benefit from metaverse economy?
Creators can benefit from the metaverse economy by monetizing their creations. This could be done through virtual storefronts, where users can purchase virtual goods or services related to the creator’s content. For example, a gaming creator could create custom skins for their game that can be bought in-game and then resold for a profit. Additionally, creators can take advantage of the ability to create and sell virtual real estate within the metaverse or host virtual events or experiences for users. Finally, creators can also use the metaverse to promote their work and engage with their audiences in a more interactive way.
How investors can benefit from metaverse economy?
Investors can benefit from the metaverse economy in a variety of ways.
1. Investing in Digital Assets: There are a variety of digital assets that can be acquired in the metaverse, such as virtual land, virtual goods, virtual currency, and virtual items. These assets can be bought and sold on metaverse marketplaces, providing investors with the potential for high returns.
2. Investing in Metaverse Companies: Investing in companies that are part of the metaverse can be lucrative as well. Metaverse companies are often focused on creating virtual worlds and providing services that are used by users within these virtual worlds, such as gaming, shopping, and other activities. Investing in these companies can provide investors with the potential for large returns.
3. Investing in Platforms: Platforms that are used to create and manage virtual worlds are also a great way for investors to benefit from the metaverse economy. Platforms such as Decentraland, Cryptovoxels, and Somnium Space are all popular platforms within the metaverse, and investing in these platforms can help investors gain exposure to the metaverse economy.
What are components of persistent immersive metaverse?
- Scalable, persistent 3D virtual world: This should be a virtual world that is constantly evolving and expanding, with the ability to scale up or down to accommodate different numbers of users.
- Real-time physics engine: This engine should be able to accurately simulate physical interactions between objects and players, as well as the environment.
- Realistic avatar design and animation: Avatars should be customizable and highly detailed, with realistic facial expressions and body movements.
- Social interaction: Players should be able to interact with each other through chat, voice, and other emotive features.
- Commerce system: A virtual economy should be in place, allowing users to purchase and sell goods and services.
- Content creation tools: Players should have access to tools to create and customize their own in-game content.
- Privacy and security: Users should feel safe and secure in their virtual world, with the ability to control their own privacy settings.
How can I create a fully functional metaverse?
Creating a fully functional metaverse requires a lot of effort and resources. Some of the steps involved include:
- Developing a virtual world platform: This includes creating a 3D virtual world engine, designing the environment, and developing the tools to allow users to interact with each other and with objects in the world.
- Developing an economy: This includes creating a virtual currency, setting up virtual stores and markets, and providing resources to facilitate trade.
- Establishing governance: This involves creating rules, regulations, and laws to protect users and ensure a safe environment.
- Integrating with existing platforms: This includes connecting to social networks and other platforms to allow for external communications, as well as allowing users to access their accounts from the metaverse.
- Creating content: This includes developing interactive 3D environments, designing avatars and objects, and creating engaging experiences for users.
What are top upcoming metaverse platforms?
1. Decentraland
2. Xeroland
4. Cryptovoxels
5. Sinespace
6. NeosVR
7. VRChat
8. The Sandbox
9. MetaverseX
10. Omniverse
AI
Microsoft Germany CTO Announces GPT-4 Launch with Video Generation Capabilities
Microsoft Germany CTO Andreas Braun has announced the launch of GPT-4, the fourth generation of the revolutionary large language model (LLM) that enables machines to comprehend natural language. GPT-4 is expected to offer new possibilities including multi-modality, video processing, and faster responses. It will be a game changer in AI and another leap towards accurate human interpretation.
GPT-4 to Revolutionize AI Industry with Enhanced Multimodal Capabilities
Mar 10, 2023 01:00 EST By Hussain Kashif
The upcoming release of Chat GPT-4, the fourth generation of the large language model (LLM), is generating considerable excitement in the Artificial Intelligence (AI) community. According to Microsoft Germany CTO Andreas Braun, GPT-4 will offer new possibilities, including multi-modality and video processing, and will be a game changer in AI as it takes another leap towards accurate human interpretation. The release of GPT-4 is expected to revolutionize the AI industry with its improved functionality, accuracy, and efficiency.
Functionality:
GPT-4 is expected to have several new features and improvements over its predecessor, GPT-3.5. Users can engage through multiple modes such as text, images, videos, and sounds due to its multi-modal capabilities. It is also a versatile tool for content creation as GPT-4 is capable of generating videos. Moreover, GPT-4 is expected to provide faster responses than GPT-3.5, with more human-like responses, allowing for better communication and understanding.
Use Cases:
GPT-4 has a wide range of potential use cases across various industries. It can provide personalized and adaptive learning experiences in EdTech. In HealthTech, GPT-4 can be used to develop virtual assistants and chatbots to provide patients with personalized care, reducing the workload of healthcare professionals. In content creation, GPT-4 can create highly engaging and personalized content, increasing audience engagement and satisfaction. GPT-4 can also generate highly realistic and accurate special effects, reducing the cost and time required for production in film and media.
Improvements:
GPT-4 will bring several improvements to the AI industry. Its improved functionality will allow for better communication and understanding between humans and machines. The multi-modal capabilities of GPT-4 will provide a more immersive and engaging experience for users. Its faster responses and more human-like responses will make it easier for humans to interact with machines, reducing the need for specialized training or technical knowledge.
Benefits to Industry, Academia, Governments and Individuals:
The release of GPT-4 will have several benefits for various stakeholders. GPT-4 will provide companies with a powerful tool for communication, content creation, and automation, reducing the workload of employees and increasing productivity. In academia, GPT-4 can be used to develop new educational tools and resources, allowing for more personalized and adaptive learning experiences. In governments, GPT-4 can be used to improve public services and provide personalized assistance to citizens. For individuals, GPT-4 can provide personalized and adaptive experiences across various domains, including education, healthcare, and entertainment.
Conclusion:
The release of Chat GPT-4 is expected to revolutionize the AI industry with its improved functionality, versatility, and accuracy. GPT-4 will provide companies, individuals, and governments with a powerful tool for communication, content creation, and automation. The release of GPT-4 will have several benefits for various stakeholders, including increased productivity, personalized and adaptive experiences, and improved public services. Overall, the release of GPT-4 is expected to have a significant impact on the AI industry and beyond.
Reference: Neowin. (2023, March 10). Microsoft says GPT-4 coming next week with video features. Retrieved from https://www.neowin.net/news/microsoft-says-gpt-4-coming-next-week-with-video-features/
Reference: University of Metaverse. (2023, March 10). Microsoft says GPT-4 coming next week with video features. Retrieved from https://umetaverse.ca/2023/03/10/microsoft-germany-cto-announces-gpt-4-launch-with-video-generation-capabilities/
AI
Unlocking the Potential: How AI and ML are Transforming the Metaverse and Virtual Worlds
In this article, we will explore how AI and ML are transforming the metaverse and virtual worlds, and the potential use cases and opportunities that they bring. We will look at the current state of AI and ML in the metaverse, and the ways in which these technologies are being used to create more realistic and engaging virtual experiences for users. We will also examine potential use cases such as virtual assistants, social interactions, personalization, business and commerce, gaming, education and training, and healthcare.
Breaking News
Crown Prince Sheikh Hamdan bin Mohammed approves new phase of the Dubai Metaverse Strategy
Crown Prince Sheikh Hamdan bin Mohammed approves new phase of the Dubai Metaverse Strategy
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of The Executive Council of Dubai, and Chairman of Dubai’s Higher Committee of Future Technology Development and Digital Economy, on Thursday approved the new phase of the Dubai Metaverse Strategy, which aims to enhance the digital economy and implement measures to empower the use of the metaverse and future technologies.
“Through this Committee, we seek to develop a new model for the development of technology and futuristic sciences with a special focus on digital technologies and the metaverse as part of our broader strategy to promote digital growth and innovation and achieve the goals of the Dubai Metaverse Strategy,” Sheikh Hamdan said.
Sheikh Hamdan approved four key strategies aimed at using metaverse technologies to provide government services and a comprehensive study aimed at identifying the social benefits of introducing metaverse services that will be submitted to The Executive Council for approval.
Dubai’s Metaverse Strategy aims to leverage emerging technologies such as virtual, augmented, mixed, and extended reality (VR/AR/MR/XR), blockchain, digital twins, 5G, non-fungible tokens (NFTs), machine learning (ML), and many others.
These will work to develop a digital economy set to create over 40,000 jobs and contribute $4 billion USD to the city’s economy over five years’ time.
The Strategy also aims to attract over 1,000 enterprises to the nation and boost training and education for future Web3 users, developers, and creatives, it revealed in July.
Target sectors include remote work, collaboration, law, healthcare, tourism, education, manufacturing, and many others. The Plan will also build metaverse and Web3 standards for global industries.
Microsoft Germany CTO Announces GPT-4 Launch with Video Generation Capabilities
Unlocking the Potential: How AI and ML are Transforming the Metaverse and Virtual Worlds
Tip of the day: No-code Tools
FTC sues to stop Microsoft from buying Activision Blizzard
DXC Technology Identifies Five Ways the Metaverse will Transform Lives and Business
Metaverse is gigantic $30 trillion upcoming revolution!
-
Entertainment3 months agoFTC sues to stop Microsoft from buying Activision Blizzard
-
Employment3 months agoDXC Technology Identifies Five Ways the Metaverse will Transform Lives and Business
-
Education3 months agoTip of the day: No-code Tools
-
Entertainment3 months agoRoblox Introduces 2 new features
-
AI2 months agoUnlocking the Potential: How AI and ML are Transforming the Metaverse and Virtual Worlds
-
Business3 months agoMicrosoft acquires Lumenisity, high speed fiber maker
-
Business3 months agoYuga Labs, Moonpay faces lawsuit for celebrities NFT promotion
-
Business8 months agoStartup announces pre-seed funding for building Next-Generation Metaverse platform