The Web 3.0 Report - 11/05/22

The Web 3.0 Report is our bi-weekly newsletter helping readers keep their fingers on the pulse of everything Web 3.0 whether that be Blockchain, NFTs, the Metaverse, or of course, AR/VR. Today we focus on Niantic's new app Peridot, AI updates from Google, Meta's roll backs for Horizon Worlds and Amazons new service for immersive: 'Amazon Anywhere'.

Peridot brings the nostalgia feel of Tamogtchi to Gen Z?

Say the word Tamagotchi to anyone raised in the 90’s and you’ll be met with a mix of joy and shame for those who neglected their virtual pet more than they care to admit. However, thanks to Niantic, they have a second chance as virtual pets are making a comeback with a unique augmented reality twist. Set to release later this year, Peridot is a new app that leverages AR to allow users the ability to feed, play with, and take care of their own virtual friend within the user's own physical space. Dissimilar to the original Tamagotchi, users will also be responsible for catching and hatching their Peridot whilst also taking it on walks and teaching it new tricks. With the success of augmented reality games like Pokémon Go, it will be interesting to see if Peridot will have a similar impact on the gaming industry and effectively capitalise on the nostalgia feel of the iconic Tamagotchi. If the app catches on to the same degree, Peridot could be a real indicator for the gaming industry’s slow shift into more immersive experiences.?

Google I/O conference showcases future of AI

At the annual Google I/O conference, the tech giant announced a slew of updates to its artificial intelligence (AI) tools, including advancements in natural language processing and generative AI. One of the most notable updates is the introduction of "PaLM 2," a general use language model that can perform a broad range of coding and math tests as well as creative writing tests and analysis. Additionally, Google announced "Bard," their own generative AI service similar to ChatGPT that utilises Google’s search engine to generate answers to user’s requests. The company also showcased its progress in generative AI, which uses machine learning to create realistic images, music, and even code. These updates demonstrate Google's continued investment in AI, which has become increasingly integrated into its products and services. With these new tools, Google hopes to make AI technology more accessible and intuitive for users, further heating up their competition with Microsoft’s own investments in AI technology. However, pioneer of AI, Geoffrey Hinton has left his research position at Google to warn brands more publicly of the dangers accompanied with developing AI too quickly and without increased scrutiny/regulation

Meta rolls back key features in Horizon Worlds

Meta’s key purpose for Horizon Worlds was to find more immersive ways of connecting people via virtual reality and empower users to create their own unique 3D spaces. However, user adoption has struggled to meet their expectations standing at only half their target user base amid much criticism of the metaverse. In an attempt to remedy this problem and achieve the same success of other Meta platforms such as Roblox they are rolling back one key feature that allows users to create their own custom social events. A surprising roll back given this feature is seemingly custom made for Horizon World’s primary purpose. However, Meta wrote that “As we’ve refocused our development in Worlds toward improving the overall quality of the platform, we’ve taken time to also revisit some legacy features that aren’t quite living up to our renewed quality standards,”. It seems that the platform's underperformance has forced Meta to make changes and in this case seems like one step back to ideally take two steps forward.?

Amazon Anywhere takes big leap towards a full service metaverse

The metaverse has met many challenges since its first inception but one key challenge for brands is the inability to buy products through an immersive experience without first leaving the experience itself and visiting a predetermined ecommerce landing page. ‘Amazon Anywhere’ is a new featured from Amazon that integrates their service dfirectly into the immersive experience allowing customers to buy physical products via VR and AR, namely popular apps such as Pokemon Go and Peridot being some of the first use cases. The ability to fully begin and then complete the consumer journey without leaving an immersive app or 3D space will act as a monumental step for the Metaverse gradual rise to prominence for consumers and brands alike.