Latest In Web3, AI & Emerging Tech

Hello, and welcome to the latest edition of my weekly newsletter, where I bring you updates on the latest happenings in the world of Web3, AI, and Emerging Technologies.?

In this edition, I bring you the latest news on three AI topics. First, after a decade of development, Virtuix's Omni One Treadmill is finally ready to ship to home users. FIFA has also announced the open beta version of World Cup AI League, a new soccer game that employs artificial intelligence for its characters and gameplay elements, and plans to integrate NFTs in the future. Lastly, the UK government has unveiled a five-point plan for AI innovation in their first-ever AI white paper to guide the development and use of artificial intelligence in the country.

So, let's dive into this week's news and explore the latest happenings in the world of technology.

Virtuix's Omni One Treadmill finally set to ship

After a decade of development, Virtuix's Omnidirectional Treadmill is finally ready to ship to home users. The first iteration of the machine was used as a CGI model in Steven Spielberg's film, Ready Player One. The design for the movie is a departure from the final product, which is based on a concave design that uses slip-on shoe covers to simulate movement in virtual reality. The device relies on a tether to stabilize the user and will retail for $2,595 bundled with a customized Pico Neo 3 headset.

Virtuix had a successful Kickstarter campaign, raising $1.1 million, which catapulted it into the crowdfunding service's all-time Top 10 technology campaigns. The company then shifted its efforts to commercial clients, selling around 70 of its Omni Arena models to U.S. arcades. The Omni One is a complete system, but it can also be hooked up to a PC-based VR headset. The company is confident that demand is there, citing a large online following, including videos with over 30 million views and Elon Musk's tweet about the product.

The company is currently shipping to beta users, and the commercial version is expected later this year. Virtuix's CEO, Jan Goetgeluk, is optimistic about the treadmill's potential and its road to profitability. The company plans to produce 3,000 units a month, with an initial low customer acquisition cost as the product goes viral.

FIFA Launches AI-Powered World Cup Soccer Game, Plans NFT Integration

FIFA has announced the open beta version of World Cup AI League, a new soccer game that employs artificial intelligence (AI) for its characters, cosmetics, and gameplay elements. Developed by web3 AI firm Altered State Machine, the game is available on Android with an iOS version coming soon. AI League features 4v4 soccer matches with cartoonish, brightly-coloured creatures, and is designed to lead casual gamers into the world of AI gaming. The characters' movements are controlled by AI, which also determines their respective strengths and weaknesses, while players act as team coaches and owners. AI League currently offers in-game currency for cosmetic enhancements, but an NFT marketplace for the game is planned for the future.

According to an Altered State representative, the NFT deployment will come later because the company wants to keep the user experience frictionless and not overly focused on the NFT elements. The game's characters will be minted into NFTs, however, and all characters will be represented via NFTs going forward. This decision reflects a strategy that's becoming more common in the Web3 space to launch games in a traditional "Web2" form first without NFT or crypto elements, and then add them in later. FIFA is no stranger to the crypto world, having enlisted a crypto sponsor for the 2022 World Cup and launched an NFT platform, along with partnering with other Web3 game studios for World Cup-themed integrations.

UK government unveils 5-point plan for AI innovation in white paper

The UK government has published the first-ever AI white paper to guide the development and use of artificial intelligence in the country. The blueprint aims to maintain public trust in the rapidly evolving technology while facilitating its safe, innovative use across all industries. The white paper outlines five principles that existing regulators must follow, including safety, transparency, fairness, accountability and governance, and contestability and redress. The government will empower regulators such as the Equality and Human Rights Commission, Health and Safety Executive, and Competition and Markets Authority to develop and deploy AI technology in a way that is tailored to their specific sectors.

AI technology has already contributed ￡3.7bn to the UK economy and employed over 50,000 people last year. The white paper aims to build on this success by removing regulatory barriers that can hamper the use of AI and ensuring the safe implementation of the technology. The government has avoided heavy-handed legislation that could stifle innovation and has instead encouraged a flexible approach to regulation. Over the next year, regulators will provide practical guidance, risk assessment templates, and other resources to ensure the principles are implemented in their respective sectors. Find out more about it here.