Wednesday, Jun 22nd 2022

Crypto Three Things (6/22)

Commentary

“Less is only more when more is no good”- Frank Lloyd Wright

1)Mark Zuckerberg unveils prototype headset for access to the metaverse:: The Meta CEO presented the first version of “custom and bespoke” headsets that will ship to customers who want to step out into the digital space. The unfinished product is part of the company’s $10B bet expected to funnel into metaverse development this year.

Titan’s Takeaway: Meta, formerly known as Facebook, aims to be a frontrunner in the race for the metaverse. However, competition is heating up with Apple already pushing its VR and AR gadgets and Microsoft’s recent $72B acquisition of Activision Blizzard.

2) Tech heavyweights team up to create a shared metaverse world: 33 companies, including Microsoft, Meta, and Epic Games, are joining efforts to unite the open metaverse into an interoperable and shared space. The new alliance, The Metaverse Standards Forum, will focus on developing tools for supporting common standards and initiatives like hackathons, encouraging more action-based projects.

Titan's Takeaway: Seeing big tech moving towards a common ideal for the looming metaverse technology indicates that many are becoming aware of its use cases. While it’s still early to bill this new virtual world as the next generation of the internet, we’re confident the potential is there.

3) The Sandbox to build ‘TIME Square’ in metaverse: US media giant TIME will set up its first virtual world location in The Sandbox’s metaverse platform. TIME President Keith Grossman announced the initiative during an event at NFT.NYC. TIMEPieces, an NFT community project launched by TIME, will handle the development of the site.

Titan's Takeaway: This initiative is another example of how mainstream organizations seek exposure through modern solutions, especially in the Web3 space. On the other end of the spectrum, users worldwide can get virtual access to various lifelike experiences hosted in the immersive world.

As of this writing, MSFT was a portfolio holding of Titan. This security may cease to be a portfolio holding at some point in the future.
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