However, not everyone is equally enthusiastic about the concept as often described. Chinese companies in the gaming sector, a key area for getting the metaverse up and running as they possess tools for complex simulation, have seen their valuations soar. Investment has flooded into technologies such as virtual reality (VR) and digital imagery. While the metaverse may not exist now - it could take decades to materialize - the concept has come to the fore during the Covid-19 pandemic as lockdown measures led to a surge in demand for online business and entertainment.
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Similarly, a car designed for Rocket League could be brought over to work in Roblox,” wrote Ball in an article in last year.įor non-gamers, this could mean a virtual experience where people can attend interactive events, or try on clothing and shoes at digital storefronts.
“Your Counter-Strike gun skin, for example, could also be used to decorate a gun in Fortnite, or be gifted to a friend on/through Facebook. “Those who feel that they’re less than perfect in the real world can change their identities in the virtual world you can also buy land, build houses and sell your own NFT (non-fungible token) artwork,” an investor focusing on the gaming industry told Caixin.Īccording to venture capitalist Matthew Ball, who co-founded the first metaverse-focused exchange traded fund, it will be able to offer unprecedented interoperability of data. One recent portrayal of a metaverse-like environment was in the 2018 film “Ready Player One.” The term was first coined in the 1992 novel “Snow Crash” by American writer Neal Stephenson. In China, dozens of companies have declared that they will be building the digital realm of the future.Ī metaverse generally refers to an immersive, online, virtual-reality environment in which users can interact. Last month the company released its latest revision.Metaverse - the latest tech industry buzzword sparking a familiar cycle of grand claims about the future and frenzied investment. Ultraleap is betting that hand-tracking will be the primary input for XR and the metaverse. Ultraleap will also continue to invest in R&D to drive their machine-learning-based hand tracking even further ahead,” the company said in its investment announcement. “With this investment round, Ultraleap will continue to bring Gemini to different operating systems and increase their investment in tooling to enable developers to build more applications using the best interface-your hands.
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This week Ultraleap announced it has raised a £60 million (~$82 million) Series D investment with participation from new investors Tencent, British Patient Capital, and CMB International, alongside existing investors Mayfair Equity Partners and IP Group plc. The new name clearly defined the merger’s unique combination of mid-air ultrasonic haptics now underpinned by some of the best hand-tracking tech in the industry.
Ultraleap, a leading company focused on hand-tracking interfaces, this week announced it has secured a £60 million (~$82 million) Series D investment, with the goal of expanding its hand-tracking and mid-air haptic tech in the XR space and beyond.įormerly known as Ultrahaptics, Ultraleap was formed after the UK-based haptics company acquired leading hand-tracking company Leap Motion back in 2019.
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