Nvidia, Apple, Adobe, Autodesk, and Pixar Animation Studios have joined forces to establish the Alliance for OpenUSD, which aims to promote the development of 3D graphics standards in the metaverse. OpenUSD is an open data format created by Pixar that allows graphic artists to collaborate on large-scale 3D animation projects. The Alliance for OpenUSD will work with the Joint Development Foundation to standardize the technology. Apple has recently launched the Vision Pro AR/VR headset and partnered with Disney to bring fans closer to their favorite characters in film and TV.

Statistics for July 24-30, 2023. Over the past week, the 10-project VRE market capitalization fell 2.15% for the tenth week in a row to 667,988 ETH (or a 3.54% drop to $1.244 billion). Meanwhile, ETH price fell 1.43% to $1,861.76. Investor interest in the Metaverse has been on the decline in recent months, not just because of a macro recession or bear market, but because it has been overshadowed by the “next big thing” AI. However, in terms of sales volume, projects like Somnium Space and Voxels are doing well. Decentraland and BYOLands also picked up. Overall, the Metaverse market has seen a relatively large decline in volume over the past four weeks.

Snoop Dogg, a successful rapper and businessman worth $124 million, has invested heavily in the metaverse with projects like the Sandbox. The Sandbox partnered with Snoop in September 2021, giving him his own space in the game called the Snoopverse. However, the prices of virtual property in the Sandbox have plummeted, causing losses for investors, including Snoop himself.

Despite suffering a net loss of about $3.7 billion in the second quarter, Meta's Reality Labs unit remains committed to its metaverse ambitions. The unit, which includes augmented reality, virtual reality, and the company's metaverse software platform, has been incurring significant losses in recent quarters, with a net loss of $13.7 billion in 2022 and nearly $4 billion in the first three months of 2023.

Meta's shares rose by more than 6% in after-hours trading after the company released its quarterly earnings report, which exceeded Wall Street's expectations. The company's sales were $32 billion, and its earnings per share were $2.98, making it the most profitable quarter since the company changed its name to reflect its commitment to the metaverse.

The Sandbox is opening up its metaverse to user-created content, allowing anyone to host and run their own experiences by the end of 2023. This marks a significant step towards fulfilling the ultimate goal of granting creative freedom to all land plot owners. Creators can now publish their experiences and create landing pages, with the option to charge an entrance fee or require specific NFT ownership for entry. Additionally, exciting experiences like McNuggets Land offer players the chance to win prizes such as SAND tokens, Mystery Boxes, and even a year's supply of free McNuggets.

dot.Gaming is a newly established game development studio which is dedicated to utilizing technologies such as metaverse, NFT and virtual reality to create immersive, multi-dimensional gaming experiences in order to bring the magic of virtual worlds Gaming hopes to collaborate with H.E.A.S.S. in the development of the game.

LITTLEMAMI is a company specializing in the development of Metaverse and NFTFi infrastructure. It has established an ecosystem for NFT and Metaverse platforms based on a club model. As a platform based on blockchain technology, LITTLEMAMI's main goal is to establish global infrastructure that enables digital assets to access innovative value-added services, driving the development of global digital assets and significantly enhancing the value and quality of the Metaverse.

Decentraland, a popular virtual world, has introduced a new feature to help beginners create their own virtual spaces in the Metaverse. The pre-built scenes allow users to customize their digital homes, venues, or workplaces without needing advanced skills or spending too much time. This feature aims to address the problem of empty plots owned by users who lack the resources to develop them fully. Decentraland hopes that this new offering will encourage more people to build and contribute to the growth of the virtual metropolis. Users can access the scene builder application and choose from several templates, including "The House," "The Office," and "The Theatre," with more options coming soon.

A weekly update that summarizes community activities of Sklytopia!