Businesses Turn to the Metaverse to Offer Innovative Services

FinancialBuzz.com News Commentary

NEW YORK, July 21, 2022 /PRNewswire/ -- The metaverse could potentially become the next major technological market, as it attracts various industries and a wide range of clientele. Generally, the metaverse is a term used to describe a highly immersive 3D virtual world experience obtained through the use of a mixture of technologies such as AR, VR, and MR (mixed reality). As such the metaverse platform could potentially elevate the overall internet experience by establishing a virtual world in which users can engage in immersive gaming, conduct business, socialize, buy and sell virtual real estate, and enjoy immersive entertainment, among other things. And according to Grand View Research, the global metaverse market size was estimated at USD 38.85 Billion in 2021. Now, it is expected to expand at a compound annual growth rate (CAGR) of 39.4% from 2022 to 2030. E-Home Household Service Holdings Limited (NASDAQ: EJH), Met Platforms, Inc. (NASDAQ: META), Unity Software, Inc. (NYSE: U), NVIDIA Corp. (NASDAQ: NVDA), Roblox Corporation (NYSE: RBLX)

Although widespread utilization of the metaverse and the opportunities it provides may take some time, leading brands are already using the technology to rewrite the rules of marketing. According to a report by McKinsey, "the metaverse is best characterized as an evolution of today's internet—it is something we are immersed in instead of something we look at. It may realize the promise of vast digital worlds to parallel our physical one. For marketers, the metaverse represents an opportunity to engage consumers in entirely new ways while pushing internal capabilities and brand innovation in new directions."

E-Home Household Service Holdings Limited (NASDAQ: EJH) announced earlier this week breaking news that, the Company launched its Digital Human as a Service ("DHaaS") employee training program, advancing the Company's metaverse initiative leveraging frontend AI technologies.

The Company officially launched in April a virtual digital human customer service guide named "Xiao e" who provides seamless, 24/7 assistance for household services clients in the Metaverse virtual world, all delivered with leading AI technologies that are developed via the Company's in-house research as well as through partnership with various partners.

The DHaaS employee training program will help E-Home provide virtual coaching and training for existing and new household service workforce, nannies and nursing workers on professional service terminologies, the preparation of tool and relevant skillsets for household cooking and cleaning, as well as safety-related guidance and knowledge points. The program underpins the Company's vision of bringing a new approach to skills development and customer engagement.

Mr. Wenshan Xie, Chairman and CEO of E-Home, commented: "Utilizing the immersive capabilities of AI technologies , we manage to 'digitally activate' and transform trainings for household service professionals to become an engaging, and interactive three-dimensional experience with more efficiency and less costs. By introducing DHaas employee training program, we are making things easier for our workforce to grow their skillset, collaborate and share professional experience and improve on their skills."

Met Platforms, Inc. (NASDAQ: META) CEO Mark Zuckerberg introduced in a blog post on July 7th a new way for people to log into their VR headsets that doesn't require a Facebook account. Starting in August 2022, if a user is new to Meta VR devices or have previously merged their Oculus account with their Facebook account, they'll need to create a Meta account and Meta Horizon profile. If users have been logging into their VR device with their Oculus account, they can continue to do so until January 1, 2023, at which point they'll need to create a Meta account and Meta Horizon profile to continue using the Meta VR device.

Unity Software, Inc. (NYSE: U) announced last year the availability of Meta Audience Network for in-app bidding access in Unity Mediation, available within Unity Ads. With this integration, publishers get self-serve and streamlined access to a premium demand source, making it quicker and easier to maximize their revenue. Meta Audience Network is the latest addition to Unity Mediation, solutions that give developers access to the most comprehensive demand, with over 60+ ad ecosystem partners as well as enhanced tools to set pricing strategies, bid competitively, and maximize overall ad fill. "This partnership with Meta Audience Network will unlock important access to one of the leading bidders in the industry for developers of all sizes using Unity Ads," said Felix Thé, SVP of Product Management, Operate Solutions, Unity. "Our priority is always to enable our developers' success and with this partnership we are delivering a streamlined path to maximizing revenue potential. This is a significant step we are taking to ensure we are equipping publishers with what they need to achieve operational and monetary efficiencies."

NVIDIA Corp. (NASDAQ: NVDA) announced in a blog post on January 24th that it is working with Meta Works to Build Massive AI Research Supercomputer. Meta's AI supercomputer — the largest NVIDIA DGX A100 customer system to date — will deliver Meta AI researchers 5 exaflops of AI performance and features cutting-edge NVIDIA systems, InfiniBand fabric and software enabling optimization across thousands of GPUs. The AI Research SuperCluster (RSC), announced today, is already training new models to advance AI. Once fully deployed, Meta's RSC is expected to be the largest customer installation of NVIDIA DGX A100 systems. "We hope RSC will help us build entirely new AI systems that can, for example, power real-time voice translations to large groups of people, each speaking a different language, so they could seamlessly collaborate on a research project or play an AR game together," the company said in a blog.

Roblox Corporation (NYSE: RBLX) and The National Football League announced on February 9th, the launch of NFL Tycoon to engage the next generation of NFL football fans in the Metaverse. The NFL will be the first official major sports league to offer a persistent experience on Roblox, a global platform bringing millions of people together through shared experiences. "We are beyond thrilled to partner with Roblox as we journey deeper into the Metaverse and continue to learn the value of interactive shared experiences for the NFL," said Joe Ruggiero, SVP, Consumer Products at the NFL. "We see Roblox as an extension of NFL's real-life engagement platforms for emerging social connectivity where fans can learn the game and business side of NFL football. This is a new frontier of how fan engagement will evolve for the League, and we are excited to be a part of this dynamic space that will continuously evolve over time with new experiences."

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