Key takeaways

• Product updates
  • The Meta Connect 2024 conference ushered in new extended reality (XR) devices and Quest ecosystem improvements: We tracked 13 device announcements in the industry, including Meta’s budget-friendly Quest 3S mixed reality (MR) headset and a prototype of its first augmented reality (AR) glasses, Orion. The company also introduced software updates to enhance XR content development, such as 2D and spatial app support on the Quest Store and a passthrough API to create better MR experiences. GenAI updates included Meta’s vFusion3D for 3D object creation and tools from Snap to generate Snapchat Lenses, 3D characters, and images. 
  • Metaverse platforms (MEPs) Meta and Genies advanced digital avatar technology: Meta launched its AI-powered avatar system, which offers users enhanced customization options such as fine-tuning eye size, nose shape, and body shape. Digital avatar creation platform Genies is also making strides with its Creator and Partner Network, helping brands commercialize avatars through collaborations with tech firms like Anything World and Soundful.