Epic Games' Vision of the Metaverse: An Open and Interoperable Ecosystem The concept of the metaverse has been around for decades, but it's only recently gained
mainstream attention thanks to the rise of multiplayer games, social networks, and virtual worlds. Epic Games, the developer behind Fortnite, is at the forefront of the movement towards the metaverse. In a recent interview with GamesBeat, CEO Tim Sweeney discussed the company's vision for the open metaverse, emphasizing the importance of an interoperable ecosystem that's not controlled by a few institutions. Epic Games is developing open standards for content authoring interoperability and
economic interoperability to achieve this vision. They've also created Verse, a new scripting language designed specifically for the metaverse. Although there are still many challenges to overcome, Sweeney and his team are confident that an open metaverse is possible and that it will transform how we interact with technology.
The concept of the metaverse has been around for decades, but it wasn't until recently that it gained mainstream attention. With the rise of multiplayer games, social networks, and virtual worlds, the metaverse has become a
real possibility. Epic Games, the developer behind Fortnite, is one of the companies leading the charge towards this vision. In a recent interview with GamesBeat, Tim Sweeney, CEO of Epic Games, talked about the company's vision of the metaverse and how they plan to make it a reality. "The metaverse is the multiplayer aspect, the meaningful social play, the meaningful choices and meaningful
participation," said Sweeney. "It's not owned by these institutions that make you play what they want you to play." According to Sweeney, the metaverse has been growing steadily over the past few years, with an audience of over 600 million people. While many people associate the metaverse with games like Fortnite and Roblox, Sweeney believes that it will encompass much more than that. "We
should appreciate that and separate it from the unfounded hype that was given to it, the claims around it, NFTs and things," he said. The key to making the metaverse a reality, according to Sweeney, is to create an open and interoperable ecosystem. "It'll be another one of the big failures of our generation if we let another new ecosystem develop into a set of walled gardens," he said. "It
doesn’t have to be that way. In fact it’s probably better for all participants if it’s not that way." To achieve this, Epic Games is working on developing open standards for everything from content authoring interoperability to economic interoperability. Sweeney believes that if every console social service's voice chat and every major publisher's voice chat worked together, and if there was
a single friends system that connected together, it would be achievable. "You need that for metaverse cosmetics. You need quality standards and safety standards for interoperable metaverse ecosystem destinations," said Sweeney. "We could have that by the end of this decade. These things could be connected. We could have the open metaverse." One of the key components of the open metaverse is a programming language that can be used to define how objects behave and interact. Epic Games has developed Verse, a new scripting language designed for the metaverse. According to Sweeney, the metaverse needs a language that can catch problems at development time rather than after release, and that is easy to learn. Verse is also designed to be good at dealing with things that occur over a
period of time, which is crucial in a world where time passes during gameplay. However, Sweeney acknowledges that getting people to adopt a new programming language can be a challenge. To overcome this, Epic Games is using Fortnite's creator community to battle test Verse and adapt it as they go along. The ultimate goal of the open metaverse is to create a massive scale open world programming environment that's designed for software that's continually evolving in a real-time environment. While there are still many challenges to overcome, Sweeney and his team at Epic Games are confident that the open metaverse is possible. "The ultimate destination is open standards
for everything," said Sweeney. "The path to that involves a lot of chaos. There's going to be a lot of de facto standards emerging as different companies propose different things. People will say, 'That's cool. Let's use that.' That will happen before a standards body steps in. That's a healthy process." |
All the news you need today, in a format that isn't TL:DR, summarized for the busy executive.
The use of artificial intelligence (AI) is raising new legal challenges, such as software malfunctions in self-driving cars and concerns about intellectual property rights for authors of texts used to train AI systems like ChatGPT. These issues were recently discussed at a WORLD.MINDS forum, where lawyer John B.
Quinn participated. A letter signed by 1,100 people, including Elon Musk and Steve Wozniak, called for a six-month moratorium on training AI systems beyond GPT-4, citing concerns about the potential for sentient AI systems. The risks associated with powerful AI systems include misdiagnosis in medicine, pandemics resulting from genetically-engineered viruses, weapon control, and the creation of fake scientific results that harm our quality of life. Blockchain infrastructure startup LayerZero has raised $120 million in a Series B funding round, valuing the company at $3 billion. The funding round saw participation from 33 investors, including Andreessen Horowitz's crypto arm, Sequoia Capital, Circle Ventures, and OpenSea Ventures. LayerZero's software enables different blockchains to communicate and become more compatible. This
funding round is one of the largest announced crypto startup funding rounds since the FTX collapse, and it follows a trend of investors flocking to back-end blockchain software startups since last year's crypto market collapse. The significant valuation increase is notable, given that it is no longer common for crypto startups to experience big valuation jumps. A year ago, LayerZero was valued at $1 billion in its Series A funding round. The NCAA and Power Five conferences are facing a $1 billion lawsuit over retroactive educational payments for college athletes from 2018-2020. The lawsuit was filed by attorneys representing two former college athletes who won the Alston case in June 2021, which allowed college athletes to profit from their name, image, and likeness. The plaintiffs are seeking damages of at least $200 million
and as much as $1 billion for the class of affected athletes. The next steps in the case involve determining NIL figures from schools and a class certification hearing in September. Despite the recent success of NCAA sports, Winston & Strawn co-executive chairman Jeffrey L. Kessler believes that the NCAA and its various sports owe the affected athletes retroactive payments. Microsoft has announced several updates to its Ads Suite, including the availability of Professional Service Ads worldwide, which is good news for industries such as real estate, tax services, and home services. The ads will appear vertically on the right-hand side of the search engine results page. Microsoft also announced two more updates to its Ads Suite, including bulk management in the Asset Library and the ability to view and edit the current
target bid value within the campaign grid when applying automated bidding. All campaigns will be upgraded to Enhanced CPC, and all broad match modifier keywords for Search Ads will serve as broad matches instead of phrase matches. These updates make managing Microsoft Ads easier and provide service businesses with another channel for reaching their target audience. NBCUniversal has announced that advertising sales for the 2024 Paris Summer Olympics are outpacing the previous Tokyo Summer Games. The announcement was made by Dan Lovinger, president of Olympics/LA 2028 Ad and Sponsorship Sales for NBCUniversal, who said that they are “pacing well ahead at the same point in time of the recent summer games in Tokyo.” Although Lovinger did not provide specific details about pricing or new advertisers, he expressed confidence in
the marketplace for the Paris event, citing support from multi-year Olympic sponsorship "ring holders" and previous success with LA Summer Olympics 2028 sponsorships. While the national TV advertising market has faced challenges in recent quarters, Lovinger believes the Paris Olympics offer a better outlook than the Asia-based Beijing Winter Olympics 2022 and Tokyo Summer Olympics 2021, which faced time-zone issues and pandemic-related disruptions. The Tokyo Summer Olympics earned $1.76 billion
in advertising revenue for NBCUniversal in 2021, while the Beijing Winter Olympics in 2022 earned $1.25 billion for the media company. Chicken Soup for the Soul, the growing advertising-video on demand (AVOD) company, has launched an advertising-selling platform called Crackle Connex. The platform will tap into over 80 million monthly
active users across all its owned and partner platforms, including the Crackle streaming service, Redbox, its Chicken Soup of the Soul streaming platform, and 20 third-party video streaming partners. The new unit will also include a Branded Content Studio and an in-house production studio. Chicken Soup for the Soul's AVOD/FAST networks provide over 70,000 free movies and TV shows and 160 FAST channels. Philippe Guelton, chief revenue officer of Chicken Soup for the Soul Entertainment and Crackle
Connex, will head up the unit. |
You're looking for an edge in your online marketing. Interest: ADOTAT.com is the answer. Our library of resources has been compiled by some
of the world's top internet marketing experts, and it's constantly updated with new information, case studies, and strategies. We want to help you succeed online - that's why we offer this information for free. It's our way of giving back to the community and helping people achieve their business goals.
Sign up now and gain access to our entire library of resources!
Want to advertise? Contact pesach@lattin.us |
|
|
DIVERSIFYING MEDIA MIXES: A SURPRISING SOLUTION TO DATA ACQUISITION As the world becomes increasingly digital, businesses are facing unprecedented challenges in balancing privacy and personalization. The great migration to first-party data has encountered some bumps in the road, as consumers are becoming more reluctant to share sensitive personal information unless they see a clear benefit in return. This was the main takeaway from a recent Gartner CMO research, which
surveyed nearly 400 marketing professionals in November and December of last year. READ ENTIRE STORY
THE PRICE OF A ‘GOOD DEAL’: AD FRAUD IN THE DIGITAL AGE. But here’s the thing – people don’t care about ad fraud because they want to get “good deals.” Just like how people want to buy cheap counterfeit handbags, advertisers want to buy low-cost ads. They don’t care if the ads are fake or if they’re not shown to actual humans – as long as they get to show off their large quantities of impressions and clicks to their bosses. READ THE FULL ARTICLE
COLLABORATION IS KEY: UNLOCKING THE POTENTIAL OF FIRST- AND SECOND-PARTY DATA
STRATEGIES The age of relying on third-party data for media buying may be coming to a close, but don't count out the power of collaboration just yet. Data clean rooms (DCRs) have emerged as a popular avenue for brands to uncover valuable insights, but they're not the end-all-be-all solution to marketing strategies in the face of a looming recession. While a DCR can help match audiences and allow brands to... READ MORE
FROM COUCH POTATOES TO CONVERSIONS: THE POWER OF CTV ADVERTISING Connected TV (CTV) and over-the-top TV (OTT) advertising have taken the marketing world by storm, providing brands with a powerful new tool to reach their target audiences. With many advantages over traditional TV advertising, CTV and OTT have become a popular choice for businesses of all sizes. In this guide, we will cover everything you need to know about setting up and measuring CTV ad campaigns, from how it works to the key considerations for advertisers.
READ MORE NOW |
|