Formalizing the Metaverse

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This week we have The Metaverse Standards; Tencent’s Metaverse Play; Meta Pay; TikTok’s Eye Popping Stats.

Analytics, Digital, Design In Action

The Metaverse Forum

The Metaverse Standards Forum was announced the publication on June 21. The forum has been joined by some major players, including Meta, Microsoft, Epic Games, Adobe, Nvidia, Sony, Unity.

The Forum's activities include the needs and interests of its members and may cover different technical areas including 3D assets and rendering, human-machine interfaces and interaction paradigms such as AR and VR, user-created content, avatars, identity management, privacy and finance trade.

The entire space of metaverse is following a similar trajectory to that of WWW. Before Tim Berners-Lee invented world wide web (WWW) in 1989. It was originally conceived and developed to meet the demand for automated information sharing between scientists in universities and institutes across the world. Internet had different versions in accordance to what people wanted out of it. The standardized body (WWW) was created afterwards.

Khronos Group will lead this Metaverse Standards Forum, a non-profit consortium dedicated to AR/VR, artificial intelligence, and machine learning.

Tencent’s Metaverse Play

Tencent announced to employees on Monday the official launch of its extended (XR) division, betting on the metaverse concept of virtual worlds.

Extended reality (XR) is a combination of computer virtuality to create a simulation and virtual environment that can replace human and machine, collectively referred to as virtual reality (VR), augmented reality (AR), and mixed reality (MR). These technologies are used as the main manufacturing modules for the cosmic world.

XR is a term that refers to the technologies that form the backbone of the metaverse, namely augmented reality (AR) and virtual reality (VR).

Tencent, Alibaba, Tiktok owner Bytedance and other major Chinese tech companies began upping their investments in the metaverse earlier this year.

Meta Pay

Like Facebook to Meta, Facebook Pay to Meta Pay is a signal for a rebrand.

Although Meta Pay is essentially the same as the previous payment service, Facebook hopes to create a "Metaverse Wallet" in the future, a digital wallet developed for the Metaverse, allowing users to securely manage identities, digital items and payment method.

Meta does have trust issue in previous operation. However, the company mentions payment card numbers are encrypted and have anti-fraud monitoring to detect unauthorized activity. Users can also prevent unauthorized payments by using a password or fingerprint.

This week, we want to highlight a new BizOps position. ABD team has increasing needs for cross-functional collaborations, strategic alignment, and project management. We are looking for results-oriented individuals to drive organizational changes and push forward some of our strategic initiatives.

Also, check out our other positions that we are actively hiring.

Don’t forget that nominations are open for our Expert Circle! We’re on our Third Cohort!

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