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Another great spot OT.
I think it’s notable how many multinationals we can link to Engage. VR adds tangible value to teams that are spread around the globe & any subscription cost will be a fraction of annual travel spend. It seems win win for everyone now the technology is there (5g is a huge enabler)
Here is another one Chaps
MTN $12b t/o Telecom company
https://www.linkedin.com/feed/update/activity:6990971653669187584
The picture is Rooftop apartment on Engage also likes from 3 Engage staff
If you look at the picture on the Right SC it is the catamaran one of the Engage environments.
https://www.linkedin.com/feed/update/activity:6992750568763002880
Kudos for spotting that the HSBC screenshot has snapped the 'enterprise plaza' of LINK... even if we don't get the launch RNS we could get another launch partner announcement if they are going to use the festival to formally launch their metaverse entry?
Either way as you say it's very very positive to see them so excited about it, that can only be a good thing...
Weds/Thursday this week we have the Singapore FinTech Festival (Biggest one on calendar) Amongst those Attending is HSBC and a couple of other companies that have shown interest in Engage.
HSBC have done a pre event “Digital Hive “part of that being experience the metaverse in the picture here you can see Engage link.
https://www.linkedin.com/feed/update/activity:6992750820664508416
Also to confirm
https://www.linkedin.com/feed/update/activity:6992835150824800256
“Thanks ENGAGE XR Alina Mikhaleva and Alex for the wonderful support today”
Could this week be a good week to release Engage link ?
I really don’t know but great to see HSBC still involved .
Quite a few updates today with a few interesting ones like concerts
https://engagevr.io/release-notes/
Also noticed app logo on phone has changed to a link after update
Really positive stats, thanks for sharing. I also liked this bit;
“While many companies remain hesitant to adopt some of these emerging technologies in their infancy, 2024 looks poised to be an inflection point for new technology acceptance. And after five years, it will be the rare company that has not invested in every one of these tools that—while are still in the early days—look poised to reshape the business world,” Henninger added.
The Rogers Innnovation Curve is quite a useful visual tool of where we currently sit; https://www.researchgate.net/figure/Rogers-adoption-innovation-curve-Adapted-from-Rogers-E-2003-The-Diffusion-of_fig4_317061409
I think the pandemic + technological development has pushed XR out of the sphere of 'innovators' and we are currently in the lower half of 'early adopters'. By 2024 we'll be moving into the early majority which will last a year or two before the late majority join in the second half of the decade. There will always be laggards that don't want to accept change, however that is the same for almost every product (e.g. smartphones).
EXR is the only UK listed company that I'm aware of which allows investors to get exposure to what will surely be a decade long megatrend. It should be a fascinating ride from here on in...
Interesting report
“In the next 6-12 months 39 percent of UK respondents said that they plan to invest in cryptocurrencies, whereas in the next 1-2 years, 43 percent plan to invest in VR/AR technologies, followed by Web3 with 42 percent of UK respondents planning to invest. Looking more long-term, 47 percent of UK respondents are planning to invest in NFTs and the Metaverse in the next 3-5 years.
Over two-thirds (70 percent) of UK respondents indicated that they plan to outsource and/or partner with technology companies to build and deploy Metaverse and Web3 technologies. The majority of UK firms (54 percent) are waiting to invest in the Metaverse, with the primary trigger being when the technologies are more developed and more widely adopted”
https://home.kpmg/uk/en/home/media/press-releases/2022/10/digital-investment.html
Shear, good points. I expect the vibes and momentum of the team within Engage must be relatively high.
Another impressive use case being marketed by VictoryXR;
https://www.linkedin.com/feed/update/urn:li:activity:6991425394524532736/
"For nursing schools and medical training: we are happy to introduce our emergency room training facility on the VictoryXR Academy Campus. Accessible for all VictoryXR metaversity campuses! Learn more about metaversities here: https://lnkd.in/gDPxA9-q And, of course, displayed on the amazing ENGAGE XR platform."
My take is slightly different. I think Meta have done the industry a huge favour by effectively sacrificing their short term share price performance to pioneer widespread adoption of XR. Their share price crash is creating waves around the world and making people discuss the metaverse, raising awareness immeasurably. They have $40b cash on their balance sheet, $100b of property & plant & still made $4.5b income in Q3 even with a $3b investment in reality labs. They are cash rich and getting richer, but their market cap is under pressure due to the short term fall in EPS. Anyone that says Meta should go back to focusing on making Facebook great again is trolling in my view, they had to pivot to something innovative or they would have slowly died / become irrelevant.
The XR industry overall is thriving, it’s the natural next step from the current version of the internet and enterprise has been given an unimaginable tailwind by the pandemic via working from home.
Engage are doing everything right as far as I can see, hence why they have over 180 enterprise customers & the likes of KPMG, Lenovo & St James Place are using our software.
What’s the chance of Meta using some of its $40b cash pile to buy Engage at some point over the next few years? Small but significantly higher than this time last year IMO.
Just to back up my comments
“Photogrammetry is the process of taking thousands of images and using that data to build an accurate 3D model using software. #Meta showed this as a future feature for their own platform last week. We have been doing this for years”
https://www.linkedin.com/feed/update/activity:6988441654470844416
Would also appear that Meta is still struggling with legs on Avatars which as we know Engage have already sorted.
https://www.roadtovr.com/meta-avatar-legs-tracking-motion-capture/amp/
Evening JDF7 Also read about the Metaverse problems with Meta it does make you wonder how they have spent all that money and yet their platform is far inferior to Engage at the moment.
Many months ago DW did say Engage was far ahead of the competition and it appears they still are to the extent that Meta still uses Engage for large group meetings and indeed have a digital twin of Meta HQ again on Engage .
Also have read about some problems with Spatial on large events .
Lots of news due looking forward to the next update which as we know will come before Y/E
Meta reporting that it is going to run big losses on its metaverse unit for a while yet. Hope the market sentiment around this ( "Meta should stick to and sort out its core business") doesn't dampen wider sentiment to other metaverse initiatives and investments. I was half hoping we become a target for a very generous acquisition but I'm far less confident about that now.
…my money was always on launch and associated good news in the first half of Q4…so sit tight…
A really positive write up that, when I read the below I immediately thought of the Metaversities project…?
“We actually came across a platform that has been used by a healthcare provider for CPR training. The same platform also offered a digital twins use case which is central for our manufacturing and automotive clients.”
And I definitely thought they were referring to us on the security point, that was always a significant competitive advantage for engage in my view.
Comments and likes certainly look promising…
What do you make of this SC ?
Capgemini Invent blog on VR
3. The enterprise readiness of a platform, particularly around security.
https://blog.appliedinnovationexchange.com/extended-reality-in-the-workplace-97ca375a028
Then note the comments and likes here
https://www.linkedin.com/feed/update/activity:6990701165281726465
Every week we have an exciting find… looking at their website I’d guess they think Engage will be perfect for uploading their 3d renewable energy facilities and sharing with third parties etc. It’s another excellent use of VR & would add significant value to LINK if they upload them all
Have noticed ACCIONA working in Engage for a for quite a while now.
Tomorrow they have a demo event
https://app.engagevr.io/events/1kWZr/view
ACCIONA is another multi £B T/O company with a great deal of interest in the VR market
https://www.acciona.com/virtual-visits-to-energy-facilities/?_adin=01742670631
Would be a fine catch if they come onboard .
Indeed, it’s a major win no doubt about it. I suspect the initial contract value will be small but it should rapidly grow as they expand usage throughout the organisation. What a vote of confidence for the fundamentals of engage too, should really boost the sales team when talking to new clients about security etc.
Security is going to be paramount for Engage being an Enterprise Metaverse with high ranking CEO,s etc using the platform.
From a financial point of view Interpol is made up of 196 countries if each of them have 50 annual licences for training etc another solid income.
Couple of nice comments re. ENGAGE on that post OT;
"It's hosted in Engage environments from what I can see here. They're not the most realistic avatars' but they're one of the few platforms that can assure security and they have very pragmatic, useful features., (media + object sharing, spatial recordings, quizzes, etc) that probably work well with Interpol's training programs."
"Mitch Buzza EngageXR avatars are much more realistic than, say AltspaceVR, for example. Definitely secure, and with features that pretty much many an organisation would find useful. Engage is the Swiss Army Knife of VR; there's something for everyone-casual, educational, or enterprise level user."
Another brick in the wall…
Here’s an interview from the end of September which I don’t think was posted here at the time;
https://digitalcxo.com/video/leadership-insights-jobs-in-the-metaverse/
From 4 mins in DW talks about the ‘metaforce’ and the importance of ensuring security;
“So you’re going to need a level of security and some of the professional locations where you might have people logged in, as I said like the meta force, who can mute people’s audio or kick people out if they’re messing. Because there’s going to be loads of different jobs in that; a lot of stuff that we haven’t even thought of today will become very, very popular and places to generate revenue and to generate income for a person”
Interpol choosing Engage is another major validation of the platform & strategic vision, focusing on security is turning out to be a very smart decision indeed.
Chart looks awful, no volume. Sorry to say rsi and stoch turned. Not looking good imo for the share price..
Clarified as Engage here
https://www.linkedin.com/feed/update/ugcPost:6988830426177974272
Interpol metaverse report
https://www.euronews.com/next/amp/2022/10/20/interpol-sets-up-its-own-metaverse-to-learn-how-to-police-the-virtual-world