The Web 3.0 Report - 20/10/22

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 Tim Cook's comments on AR, Ready Player Me's new API, Mastercard's' new crypto platform, and Meta's 'legs' update.

Tech - Apple - Tim Cook’s Continued Faith in AR

Tim Cook has recently expressed Apple’s continued faith in AR technology compared to the Metaverse.? Cook has been one of the largest proponents of AR technology, focusing Apple on a? commercially viable AR/VR headset in time for 2023. ?“I think AR is a profound technology that will affect everything, '' Cook says. These comments came amid his continued criticism of the Metaverse, expressing that for a commercially viable metaverse to be possible the average consumer must be able define it, which according to Cook was not the case. However, one of the Metaverse’s biggest champions, Mark Zuckerberg, also sung AR’s praises on a recent episode of the Joe Rogan podcast, speaking on AR as part of the metaverse rather than separate from it. AR seems to be the focus of Silicon Valley, but will the metaverse have a part in this vision of consumer technology, or according to Tim Cook will it fail to achieve prominence.

Metaverse - Ready Player Me Democratises Avatars

Ready Player Me is one of the leading avatar solutions allowing users a personalised presence across a vast array of meta platforms. However, the scope for RPM has just got wider with their new API increasing compatibility to not just thousands of games, but their in-game items as well, further immersing the Ready Player Me brand in a variety of digital worlds.? With the new API, RPM’s ongoing focus will now be adoption. It's one challenge to create a cross-compatible avatar system, but it is another to create one that’s well received and utilised for thousands of games and users on a global scale. It will be interesting to see if RPM can rise to this challenged now their new API has been released.

Metaverse - Meta Legs

Meta’s flagship platform Horizon Worlds has had a rocky start to say the least. However, despite the constant criticism, Mark Zuckerberg continued to respond to any comments head on in multiple keynotes and development updates this past year. After a poorly received selfie was posted by Mark Zuccerberg from inside Horizon Worlds, avatars were re-rendered to showcase a new design in a matter of days, and now, after the continued criticism of Horizon avatars ‘no legs’ problem, avatars finally began their first real steps in Meta Connect earlier this week…or did they? In a segment many thought was to announce the release of legs, it was to simply state they are in development, using motion capture animation in a rehearsed segment to hype their release. Meta has been seemingly under a microscope of criticism this last year labelled repeatedly as out of touch with genuine consumer interest. But is the criticism for Horizon Worlds somewhat unwarranted given much of the technology is still in its infancy, or has Meta reaped what its sowed going public with the new brand, name, logo and business strategy as early as October 2021 when it was first announced.

Crypto - Mastercard Offers to Help Banks with Cryptocurrency Trading

For the casual investor, crypto has always been a potentially volatile investment. Consider the biggest stories in the last year that have broken out from the crypto market and into mainstream media such as the crash of LUNA (Crypto’s third biggest coin at the time), and the continued downslope in value for ETH and Bitcoin. John Lambert, Mastercard’s chief digital officer, has sought to meet these anxieties head on,? stating that “there's a lot of consumers out there that are intrigued by crypto, but would feel a lot more confident if those services were offered by their financial institutions". Mastercard has capitalised on this consumer sentiment developing a program that offers crypto trading in a safe familiar environment. The new program will act as a bridge between banks and crypto trading platform Paxos with a specific focus on handling security and regulatory compliance (the two core reasons banks cite for avoiding cryptocurrency). Could familiar brands like Mastercard, more trusted by the casual investor, shift public sentiment on crypto and perhaps slow or even reverse the continued downturn in the crypto market?