1 | The Cyber Security and Technology Crime Bureau (CSTCB) of the Hong Kong Police Force has launched CyberDefender, a metaverse platform to educate the public about the risks associated with Web3 and the metaverse. Hong Kong witnessed a significant increase in virtual asset crime in Q1 2023, with 663 reported cases and a total loss of $570M, prompting the police to enhance technology crime education. More: - During the event "Exploring the Metaverse," the chief inspector of the CSTCB highlighted the need for caution in the metaverse, as crimes commonly found on the internet can also occur in the virtual space.
- In Q1 2023, Hong Kong reported a 75% increase in virtual asset crime compared to Q1 2022.
- The launch of CyberDefender aligns with the establishment of the China Metaverse Technology and Application Innovation Platform in Nanjing.
- In addition to introducing the new metaverse platform, the Hong Kong Securities Regulatory Commission (HKSRC) released revised guidelines on combating money laundering (AML).
Zoom Out: - According to local media, Wu Zhong-ze, the former Deputy Minister of the Ministry of Science and Technology, highlighted the importance of expanding the use of the metaverse in various sectors, including education, commerce, healthcare, and entertainment.
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What the numbers say: Based on a 2022 Sortlist survey of companies that have invested in the Metaverse, nearly 70% of respondents expressed confidence in the metaverse experiencing substantial growth within the next five years. However, a cautious 2.9% of participants projected a longer timeframe of over ten years for the technology to take off fully. The surveyed companies came from Belgium, Germany, Spain, France, the U.K., and the U.S. Relevance: The metaverse space is expected to reach ~$426.9B by 2027. Brands' confidence in the metaverse is overwhelmingly high, with less than 3% expressing a belief that it will take more than 10 years to achieve global adoption. However, the same survey reveals that cybersecurity stands out as the leading doubt companies have with the metaverse, with 38% of brands worried about their business' security and data and those of their customers. Where to see the impact: In February, Interpol announced its commitment to combating criminal activities in the virtual world. It revealed its plans to establish a secure server for law enforcement officers to investigate the metaverse. Addressing the cybersecurity challenge, the Hong Kong Police Force has taken a proactive step. They've launched CyberDefender, a metaverse platform to educate the public about the risks associated with Web3 and the metaverse. | |
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3 | Researchers have created the first full-size 3D scan of the Titanic, providing unprecedented detail and clarity of the shipwreck's aftermath. The 3D scan of the Titanic was captured during a six-week expedition in 2022 by Magellan Ltd. and Atlantic Productions, using remote-controlled submersibles that meticulously mapped every millimeter of the wreck, including the 3-mile debris field. More: - Over 700,000 images were taken from various angles, totaling more than 200 hours of submersible time at a depth of 12,500 feet in the North Atlantic.
- The scan reveals the recognizable bow of the ship, while the stern appears as a chaotic tangle of steel due to its collapse during the sinking.
- Various items, such as unopened champagne bottles, shoes, and statues, can be identified in the surrounding debris field.
- The digital twin of the Titanic will provide new insights into the collision with the iceberg and the ship's sinking, helping researchers understand the exact nature of the disaster.
- The scan's findings will contribute to preserving deep-sea shipwrecks worldwide and provide knowledge about deep-sea environments and unknown species.
Zoom Out: - In 2012, the Titanic wreckage became a UNESCO-protected heritage site, part of an effort to protect and preserve the remains.
- in 1985, after Robert Ballard and France's Jean-Louis Michel discovered the site, Ballard combined all photos to form the first photomosaic of the wreck, published in National Geographic.
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4 | A new VR experience raises awareness of racism's effects. The immersive VR program, 1,000 Cut Journey, is now available for free download and aims to help users understand the emotional and physical toll of racism. More: - Developed by the Columbia University School of Social Work and Stanford's Virtual Human Interaction Lab, the program allows users to experience simulated instances of racism at different ages.
- The program is not intended for entertainment but rather as an educational tool to expose the pervasive nature of racism in various aspects of life.
- The 1,000 Cut Journey allows users to embody different avatars and experience other forms of simulated racism, showcasing the cumulative harm caused by systemic racism.
- The program has been adapted to run on the Meta Quest platform, making it accessible to a broader audience.
- The University of Michigan Center for Academic Innovation was critical in the conversion process.
- Research suggests that when combined with anti-racism education, the program increases awareness of racism's harms and encourages open discussions.
Zoom Out: - VR simulations foster empathy by allowing users to experience homelessness, pregnancy, disabilities, autism, and diverse racial perspectives, says Santa Clara University professor Erick Jose Ramirez.
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5 | Doctor Who is entering the metaverse with immersive experiences in The Sandbox, partnering with Reality+. BBC Studios joins over 400 other entertainment brands in The Sandbox, including Warner Music Group, Ubisoft, Gucci Vault, The Walking Dead, and Adidas. More: - Following previous brand activation experiments, the collaboration between BBC Studios and Reality+ marks the BBC's first presence in the metaverse.
- In The Sandbox, fans can interact with immersive content from brands like Doctor Who and Top Gear and enjoy a BBC events space.
- The Sandbox embraces the metaverse concept as a shared digital space, allowing players and brands to build, own, and monetize experiences using blockchain technology.
- BBC Studios' metaverse space in The Sandbox will launch later this year, with further details to be announced.
Zoom Out: - Doctor Who has previously been made interactive, with 2005's Attack of the Graske being available via the red button on TV sets.
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6 | Paramount+ wowed attendees at MCM Comic Con in London with a holographic panel featuring the stars of Star Trek: Strange New Worlds. It showcased the hologram technology that brought them into the convention hall from thousands of miles away. More: - The holographic panel celebrated the return of Star Trek: Strange New Worlds for a second season, set to premiere on Paramount+ UK and worldwide on June 15.
- Paramount+ collaborated with ARHT, a live hologram technology firm, to create this immersive experience.
- It allowed the stars to interact with the audience as if they were physically present.
- During the panel, Rebecca Romjin reflected on how Star Trek technology, such as beaming in, has often preceded real-world counterparts.
- The upcoming season features a crossover episode merging live-action with animation, bringing Star Trek: Lower Decks characters to join the U.S.S. Enterprise crew.
- Ethan Peck hinted at exciting developments in the second season and urged fans to keep an eye out for episode 5.
Zoom Out: - In November 2022, a Thai cinema operator was the first to sign on to new hologram technology that promises to change the moviegoing experience.
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7 | QUICK HITS: - Demo Divvy + get a $100 Amazon gift card. Divvy, BILL's spend and expense management solution, is one of the easiest and most efficient ways to manage your company spending.*
- Popular metaverse properties, such as Otherdeeds, The Sandbox, Decentraland, Somnium, and Voxels, have all depreciated over the past year.
- Quest 3 hands-on confirms Meta's building a 'far thinner and lighter' than the original Quest 2 headset, which bodes well for its comfort during extended usage.
- Costs of digital lands among the high metaverses have declined considerably from their peak costs of 2022, with most depreciating around 90% in worth.
- AI investments: Harness the power of a technology expected to add $15.7 trillion to the global economy by 2030.*
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| Vildana Bijedic Freelance | This newsletter was curated by Vildana. You can reach her at [email protected] or connect with her on Twitter or LinkedIn. | This newsletter was edited by Christopher Hachey |
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