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      <p>
        NetVRk, a company focused on AI and the Web3-driven metaverse, has launched the alpha version of its new platform for creating virtual worlds using Unreal Engine 5, which incorporates an innovative language model and advanced AI technology to enhance the experience in the metaverse.
      </p>
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      <p>
        The platform is distinguished by features such as multiplayer gameplay, high-end graphics enabled by Unreal Engine 5, and integration with blockchain-based decentralized autonomous organizations (DAO). Unique to the platform are AI characters embedded in the metaverse, equipped with emotional intelligence, short- and long-term memory, and live reactions.
      </p>
    </li>
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      <p>
        NetVRk is a metaverse platform that allows users to socialize, explore, and engage in various activities in a virtual environment. It uses blockchain technology and the $NETVR token as its currency, allowing users to create, buy, and sell digital assets, including virtual real estate, NFTs, and in-game items. The platform features a user-friendly interface that facilitates social interaction, online shopping, and participation in events such as concerts and parties.
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<div>
  <p>
    <a href="https://venturebeat.com/metaverse/netvrk-launches-its-ai-powered-metaverse-with-unreal-engine-5-graphics/">
      <b>VentureBeat</b>
    </a>
  </p>
</div>


Metaverse Experience Platforms

PROMINENT_CATEGORY

<div>
 <p>NetVRk, an AI and Web3-focused company, has released the alpha version of its platform for building virtual worlds with Unreal Engine 5. The platform employs a sophisticated language model and AI technology to enrich the metaverse experience.</p>
 <p>Key features of the platform include multiplayer gameplay, high-quality graphics supported by Unreal Engine 5, and compatibility with blockchain-based DAOs. The platform also introduces AI characters in the metaverse equipped with emotional intelligence, short and long-term memory, and real-time reactions.</p>
 <p>NetVRk provides a metaverse site that lets users socialize, explore, and engage in various activities. It utilizes blockchain technology and the $NETVR token for transactions, enabling users to create, purchase, and sell digital assets like virtual real estate, NFTs, and in-game objects. With a user-friendly interface, the platform encourages social interaction, online shopping, and event participation.</p>
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NetVRk releases alpha version of AI-integrated metaverse platform

ANALYST_QUICK_TAKE

INCUMBENTS_PRESENT

<div>
 <p>Nintendo is creating their debut MMO (massively multiplayer online) game. A playtest for this upcoming game has been announced, with Nintendo Switch Online members being invited. The playtest, which hopes to include 10,000 participants, will run from October 23 to November 5, 2024.</p>
 <p>In the MMO game, players can collaboratively construct and explore an expansive planet. The game features discoveries of new territories, adversaries, and resources. Players will use "Beacons", special items that allow them to create and manage their building zones. Only Beacon owners can directly modify these areas. A social area named the Dev Core will allow for player interaction and progression.</p>
 <p>Nintendo has been constantly improving its Switch Online subscription service since its launch in 2018. This improved service provides exclusive access to a broader variety of games, including classic ones, and has accrued over 38 million paid subscribers globally.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> Nintendo is strategically developing its first MMO-style game to compete with popular titles such as <a href="https:<br>
//www.minecraft.net/en-us"> Minecraft </a> and <a href="https:<br>
//sp-edge.com/companies/22278"> Roblox, </a> which dominate the social gaming space. The move reflects Nintendo's desire to tap into a huge audience of school-age children and families increasingly drawn to interactive, user-generated content. By creating an expansive world for players to build and explore together, Nintendo is positioning itself to capture the attention of the millions of active users on these platforms.&nbsp;</p>

Nintendo ventures into MMOs with new Switch Online game playtest

<div>
 <p>Wave, the VR concert platform, has announced that it will transition to 2D formats amid the pandemic. The company aims to become a round-the-clock entertainment hub and virtual music festival in its latest version. Its services will now be available to mobile, 2D streaming, and 3D VR users. Artists such as Kaash Paige, LATASHÁ, Brian McKnight Jr., slenderbodies, Mazen, Reid Speed, and Black Gryph0n are signed with Wave. The platform had a closed beta launch on October 17, 2024.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> Wave's return to the VR concert space <a href="https:<br>
//musicx.substack.com/p/-music-startup-wave-ditches-vr-as"> after three years </a> signals a strategic move to capitalize on advances in immersive technology and the growing demand for virtual entertainment experiences. The focus on artist partnerships and the deeper immersion of VR reflects an effort to differentiate itself through unique, interactive content while leveraging its early VR expertise to drive product development and audience engagement.</p>

Wave plans return with closed beta of VR concert platform

<div>
 <p>Yuga Labs, known for Bored Ape Yacht Club, is collaborating with the Wire Network for a new creator platform "ApeChain". This platform is designed to improve interaction between creators and their audiences.</p>
 <p>ApeChain merges AI and blockchain, offering features like AI capabilities, zero gas fees, cross-chain processes, and quick transactions. These features will be incorporated into Yuga Lab's current collection of digital assets and virtual worlds and provided to builders on ApeChain.</p>
 
</div>

Yuga Labs partners with Wire Network to launch AI-powered blockchain creator platform ApeChain

<div>
 <p>Ready Player Me has launched PlayerZero, a consumer avatar collectible platform. The platform allows users to create and customise their avatars, including features like hairstyles, outfits, and accessories. Avatars can be used across multiple virtual worlds and games. Additionally, PlayerZero integrates with digital collectibles, permitting users to advance their avatars by collecting items.</p>
 <p>The company asserts that PlayerZero serves as a bridge between separate ecosystems, allowing a consistent digital identity across differing platforms. They particularly target Gen Z consumers who are often online and regularly acquire digital collectibles for their avatars. </p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> Ready Player Me maintains its leading position in the avatar creation space by introducing significant product updates. The company recently introduced full-body XR avatars that <a href="https:<br>
//readyplayer.me/blog/ready-player-mes-full-body-xr-avatars-now-support-metas-movement-sdk"> support </a> Meta's Movement SDK, enabling precise body, eye, and facial tracking using Meta Quest devices. Additionally, its new <a href="https:<br>
//readyplayer.me/blog/mastering-character-customization-with-ready-player-mes-next-gen-unity-sdk"> Unity SDK </a> improves character creation capabilities (custom character models and automatic morphing of 3D content onto any character model).</p>

Ready Player Me launches PlayerZero consumer avatar platform

<div>
 <p>Readyverse Studios has introduced Promptopia, a GenAI tool that enables users to create 3D objects and environments in real-time through text prompts. The tool can be accessed via Open and The Readyverse launcher in the Readyverse online game.</p>
 <p>The technology behind Promptopia incorporates multiplayer gaming with AI asset generation. This allows users to design, distribute, and engage in a world developed from their concepts. The tool comprises components of first-person shooter and capture-the-flag games, providing players the ability to manipulate the environment, music and object creation.</p>
 <p>Promptopia employs proprietary AI models, encompassing Futureverse's Altered State 3D model generator and the JEN AI music platform.</p>
</div>

Readyverse launches Promptopia GenAI tool for virtual world creation

<div>
 <p>Decentraland, a social metaverse platform, plans to launch a desktop client as a public beta on October 22. This new client is expected to bring visual enhancements, improved performance, and additional features to the existing game which is played via browser.</p>
 <p>The desktop version will offer more detailed and dynamic environments, improved avatar interactions, and better world map navigation. It will introduce fresh mechanics like a quest and badge achievement system and accommodate a larger number of players concurrently in the same area.</p>
 <p>According to Decentraland, the desktop client will provide quicker load times, higher frame rates, and hosting capability for up to 200 avatars at a same place without any issues. The update will also empower creators to develop more intricate worlds with better-resolution textures.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> The update follows <a href="https:<br>
//decrypt.co/108201/after-177-billion-in-investment-why-do-metaverse-graphics-still-suck"> criticism </a> of metaverse platforms, including Decentraland, on their low graphical fidelity, adversely impacting user immersion. Players in the space have been focused on addressing this concern, with Meta rehauling its avatar system to be more complex, alongside <a href="https:<br>
//sp-edge.com/updates/33985"> plans </a> to introduce GenAI features for it from 2025 onward.</p>

Decentraland reveals desktop client with significant visual upgrades

<div>
 <p>Hindenburg Research, a firm specializing in activist short-selling, has leveled accusations against Roblox claiming that their reported number of daily active users is inflated. They allege that the company has overstated this figure by somewhere between 25% and 42%, accusing Roblox of including alternate accounts and bots in their user count.</p>
 <p>The report goes further in its criticism, claiming that Roblox has not taken enough measures to protect children using their platform. According to the report, the platform exposes children to inappropriate content.</p>
 <p>In response to these allegations, Roblox strongly disagrees, labeling the claims as misleading. They argue that the short sellers behind the report are biased and have a specific agenda, which they pursue regardless of the actual facts of Roblox's business model and results.</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> In <a href="https:<br>
//www.bloomberg.com/features/2024-roblox-pedophile-problem/"> July 2024 </a> , Bloomberg reported concerns about child safety on Roblox, citing challenges in effectively preventing abuse due to the platform's size, reliance on AI moderation, and limited human moderators, which bad actors exploit. Additionally, Roblox was blocked in Turkey ( <a href="https:<br>
//www.theverge.com/2024/8/8/24216300/turkey-blocks-roblox-instagram"> August 2024 </a> ), citing concerns of child exploitation on the platform.</p>

Hindenburg Research accuses Roblox of inflating user numbers by 25%–42%

<div>
 <p>Epic Games revealed its plan to develop Unreal Engine 6, which combines high-end development tools with user-friendly creative mode editors. The release is due to happen in a few years.</p>
 <p>The plan with Unreal Engine 6 is to blend Epic's powerful game engine with the simplicity of Unreal Editor for Fortnite, allowing developers to build an app once and deploy it either as an independent game for any platform or an integration within other games using the same technology.</p>
 <p>According to Epic Games CEO Tim Sweeney, Unreal Engine 6 will support the development of "persistent universe" games, comparing it to the Disney ecosystem created in Fortnite. The goal is to enable easy interoperable content creation for both indie and AAA developers.</p>
</div> <p><b>Analyst QuickTake:<br>
</b> The path taken for Unreal Engine 6’s product development builds on Epic Games’ operations in the metaverse space, intensifying competition with <a href="https:<br>
//sp-edge.com/companies/22278"> Roblox </a> . Currently, UEFN combines the functionalities of Unreal Engine with Fortnite's creative tools, providing a familiar interface for developers accustomed to Unreal Engine.</p>

Epic Games announces work on Unreal Engine 6 and and merge with UEFN

<div>
 <p>Epic Games has unveiled a first-person camera view for developers creating Fortnite content. This feature is currently in its experimental stage in the Unreal Editor for Fortnite but will be introduced in beta later in the year.</p>
 
 <p>This function enables creators to develop Fortnite experiences from a first-person viewpoint. However, actions such as swimming, gliding, and skydiving will automatically revert to a third-person perspective. This characteristic will prevail when the feature is officially released in beta.</p>
 
 <p>This update could lead to a wider array of gaming experiences in Fortnite. Nevertheless, Epic Games has asserted that the first-person perspective won't be incorporated into Fortnite's Battle Royale mode.</p>
</div>

All Updates

NetVRk releases alpha version of AI-integrated metaverse platform

Nintendo ventures into MMOs with new Switch Online game playtest

Wave plans return with closed beta of VR concert platform

Yuga Labs partners with Wire Network to launch AI-powered blockchain creator platform ApeChain

Ready Player Me launches PlayerZero consumer avatar platform

Readyverse launches Promptopia GenAI tool for virtual world creation

Decentraland reveals desktop client with significant visual upgrades

Hindenburg Research accuses Roblox of inflating user numbers by 25%–42%

Epic Games announces work on Unreal Engine 6 and and merge with UEFN

Epic Games introduces first-person camera mode for Fortnite creators

Metaverse Experience Platforms

NetVRk releases alpha version of AI-integrated metaverse platform

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