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After making a foray into the laptop segment only recently, <keyword id="874458" type="COMPANY" weightage="100" keywordseo="Xiaomi">Xiaomi</keyword> is now in the <keyword id="6369781" type="TECHNOLOGY" weightage="20" keywordseo="Virtual-reality">Virtual Reality</keyword> (VR) scene as well with its latest product, <keyword id="3542426" type="UNKNOWN" weightage="20" keywordseo="Mi-VR-Play">Mi VR Play</keyword>. 
	 

	The entry level VR headset was launched along with the its VR app in China. With this launch, Xiaomi hopes to bring the VR experience to a much wider audience. Similar to the flash sales here in India, Xiaomi did a beta testing program in China on August 1 for the VR headset where 1million people registered and few were able to buy the Mi VR Play for RMB 1 (Roughly Rs. 10). Xiaomi is planning to bring Mi VR Play in a selection of bold prints and colours. It comes with a two-way zipper that can work best with 4.7- to 5.7-inch smartphones. 
	 
	

	 

	Xiaomi has not yet announced the pricing for the VR headset. It has said the pricing will be announced at a later date. And we will have to wait and watch if and when the product will be available in India.

Xiaomi enters the VR segment with Mi VR Play

<ul class="summary-list"><li>According to the US Patent and Trademark Office, Mastercard filed the applications on Monday last week. </li><li>Mastercard's applications suggest it may be planning to create NFTs and virtual payment systems for the metaverse.</li></ul>Payments company Mastercard has applied for at least 15 crypto- and metaverse-related trademarks, according to data from the <a href="https://www.uspto.gov/trademarks">United States Patent and Trademark Office</a> payments giant Mastercard filed 15 <keyword id="11892695" type="UNKNOWN" weightage="60" keywordseo="cryptocurrency" source="Orion">cryptocurrency</keyword>, metaverse and <keyword id="11919795" type="UNKNOWN" weightage="60" keywordseo="nft" source="Orion">NFT</keyword> related trademark applications on April 4th. Mastercard's applications include trademarks for virtual cards and payments in the metaverse, an application to create NFTs, an NFT marketplace, as well as a marketplace for <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> assets in general."Provision of an online marketplace for buyers and sellers of downloadable digital goods and media authenticated by non-fungible tokens (NFTs)," one of Mastercard's applications, serial number 97346029, read. Another application includes plans for downloadable music files which would be backed up by NFTs, as well as other multimedia assets like artwork, text, audio and video – all of which would be authenticated by NFTs. American patent lawyer Mike Kondoudis noted the applications on <a href="https://twitter.com/KondoudisLaw/status/1512397180044296197?s=20&amp;t=gYq4iTZu_lr7Pa90ctYsug">Twitter</a>."We are continually looking for opportunities to deliver new and unique experiences to our customers and cardholders. This filing is simply part of that effort, ensuring that the trademark protection for our brand carries through to any potential use in the metaverse uninterrupted," a Mastercard spokesperson told Insider.The global payments company also filed to create virtual cards that would allow them to take payment for goods and services in the metaverse, including debit, credit and prepaid cards. This is just the company's latest play in the space as it previously partnered with crypto exchange Coinbase in January to offer a series of crypto services. The cryptocurrency exchange <a href="https://blog.coinbase.com/coinbase-and-mastercard-partner-to-revolutionize-nft-purchase-experience-8e486a392c55">announced</a> in January that it had enlisted the help of Mastercard to improve customer experience when purchasing digital collectibles by classifying NFTs as digital goods. This, according to Coinbase, will allow a wider group of consumers to purchase the digital collectibles.Following the applications for virtual payment system trademarks, NFTs and more, Mastercard also filed an application for events and performances in the metaverse, in the field of finance, cryptocurrency and NFTs.Events have become more popular as brands look to widen the net and attract more attendees, especially as COVID continues to complicate travel plans, international events and festivals. One such example was the <a href="https://markets.businessinsider.com/news/currencies/rafael-nadal-australia-open-crypto-nft-metaverse-tennis-gain-ash-barty-2022-1">Australian Open being held in the Decentraland metaverse</a>, where NFTs were sold so fans could own a piece of the court.The idea of the metaverse, which is widely attributed to sci-fi <a href="https://www.businessinsider.com/metaverse-term-creator-neal-stephenson-distances-himself-from-facebook-zuckerberg-2021-10">author Neal Stephenson</a>, grew in popularity in 2021 after Facebook <a href="https://www.businessinsider.com/mark-zuckerberg-the-metaverse-golden-goose-2022-1">announced</a> it would be rebranding as Meta and pivoting its business towards the development of the digital world. Shortly after that, <a href="https://www.businessinsider.com/metaverse-investing-goldman-sachs-web3-crypto-blockchain-analysis-outlook-strategy-2022-1">Goldman Sachs</a> analyst Eric Sheridan wrote the virtual world could be worth $8 trillion.Furthermore, investments in metaverse-linked companies is rising. In the last quarter of 2021 alone, almost $1.9 billion of venture capital funding went to AR and VR start-ups, according to Crunchbase <a href="https://news.crunchbase.com/news/metaverse-augmented-reality-virtual-reality-investment/" target="_blank" rel="noopener noreferrer">data</a>.Research shows the metaverse market could grow more than 20% this year, before exploding more than 1,300% by 2030, according to <a href="https://www.statista.com/statistics/1295784/metaverse-market-size/#statisticContainer" target="_blank" rel="noopener noreferrer">Statista research</a>. In 2022, its estimated size will be $47.48 billion, and $678.8 billion within eight years, Statista said.

Mastercard filed 15 crypto and metaverse-related trademark applications. Here's a look at what the company may have in the works

<ul class="summary-list"><li>Meta stock's massive selloff doesn't speak to the wider growth potential of the <keyword id="11121339" type="UNKNOWN" weightage="60" keywordseo="metaverse" source="Orion">metaverse</keyword>, two experts told Insider. </li><li>Insider spoke to people behind the <a href="https://www.subversiveetfs.com/punk">Subversive Metaverse ETF</a> and the <a href="https://www.roundhillinvestments.com/etf/metv/">Roundhill Ball Metaverse ETF</a>.</li><li>Goldman Sachs has projected the metaverse will grow into an $8 trillion market. </li></ul><a href="https://markets.businessinsider.com/stocks/fb-stock">Meta Platform's</a> worst-ever stock rout earlier this week reverberated throughout the tech sector, but the metaverse's overarching growth story remains intact, say two people behind exchange-traded funds focused on the emerging online-based world. On Thursday, <a href="https://markets.businessinsider.com/news/stocks/facebook-meta-value-market-cap-drop-comparison-netflix-nike-amazon-2022-2">$251 billion was erased from Meta's market capitalization</a>, recording the steepest one-day selloff for a publicly listed company. The 26% price slide kicked off after <a href="https://markets.businessinsider.com/news/stocks/facebook-stock-price-meta-q4-earnings-mark-zuckerberg-tiktok-revenue-2022-2">fourth-quarter earnings</a> showed the first-ever fall in daily <keyword id="11892960" type="UNKNOWN" weightage="60" keywordseo="facebook" source="Orion">Facebook</keyword> users. It was the first quarterly report since Meta changed its name from Facebook last year to reflect its focus on creating its version of the metaverse, a virtual world where people could shop, work, and play. The Reality Labs division that's working on enabling AR and VR technologies posted a 2021 operating loss of $10.19 billion, four times its annual revenue of $2.27 billion. The sobering report also hit shares of <a href="https://markets.businessinsider.com/stocks/nvda-stock">Nvidia</a>, <a href="https://markets.businessinsider.com/stocks/rblx-stock">Roblox</a> and other companies <a href="https://markets.businessinsider.com/news/stocks/metaverse-stocks-nvidia-roblox-adobe-facebook-meta-web3-reality-labs-2022-2?utm_medium=ingest&amp;utm_source=markets">working on building the metaverse</a>, which Goldman Sachs has said could <a href="https://www.businessinsider.com/metaverse-investing-goldman-sachs-web3-crypto-blockchain-analysis-outlook-strategy-2022-1">become an $8 trillion market</a>. But the sinking of Meta's stock doesn't speak to a larger narrative about the growth potential for the wider metaverse ecosystem, Michael Auerbach, founder of Subversive Capital, told Insider in an interview."I think it's strictly a reflection of Meta's choices vis-à-vis the metaverse," said Auerbach, whose company has been <a href="https://markets.businessinsider.com/news/currencies/metaverse-etf-mark-zuckerberg-meta-subversive-punk-roblox-microsoft-coinbase-2022-1">vocal against Meta standing as the preeminent face of the metaverse</a>. "Both equity investors, but also their own users, are not keen to sort of join Facebook on this journey as they pivot into what they're calling their metaverse." Subversive's recently launched <a href="https://www.subversiveetfs.com/punk">Subversive Metaverse ETF</a> has a 1% short position on Meta that he said could increase over time but will not fall below that threshold. Auerbach added that he doesn't believe Meta's stock plunge will ultimately deter equity investors from putting money into wider virtual-world ambitions. "If you look at some of the other earnings that have come out from some of the major tech players like Apple and Google that also have their own metaverse strategies, I don't think that is an area of focus that is scared off by Facebook's earnings results," he said. Then there's Matthew Ball, CEO of Epyllion, an advisory and venture investment firm focused on the metaverse. He helped launch the <a href="https://www.roundhillinvestments.com/etf/metv/">Roundhill Ball Metaverse ETF</a>, which was the first ETF to track the performance of the metaverse. Unlike Auerbach's ETF, Meta stock is among the biggest holdings in the Roundhill ETF.Ball told Insider that two areas of Meta's report underscore the vulnerability of its pre-metaverse business model. The first is Meta's warning of a potential $10 billion loss this year due to <a href="https://www.businessinsider.com/facebook-blames-apple-10-billion-loss-ad-privacy-warning-2022-2">Apple's addition of a function to iPhones</a> to stop brands from tracking consumers across apps, which would hit its advertising revenue. The second is the decline in Facebook user engagement as younger demographics socialize on Tik Tok and even gaming platforms such as Roblox."Both of those two trends actually validate the focus on the metaverse," he said. Auerbach also pointed to the emergence of other metaverse platforms, such as Roblox, and said investors will start seeing companies roll out more immersive experiences in 2D games played among both young and older audiences. "Kids are immersing themselves in games like Roblox … in these closed versions of the metaverse," he said. "We believe that's going to begin to open up where you'll be able to move from platform to platform."

Meta Platforms stock suffered a historic rout - but that doesn't derail the metaverse industry's mega-growth potential, say 2 experts

<ul class="summary-list"><li>Wall Street is hugely excited about the <keyword id="11121339" type="UNKNOWN" weightage="60" keywordseo="metaverse" source="Orion">metaverse</keyword>, calling it the next big theme in investing that could change the world.</li><li>But critics say the idea is hugely overhyped, and question whether <keyword id="12498419" type="UNKNOWN" weightage="60" keywordseo="virtual-worlds" source="Orion">virtual worlds</keyword> will really take off.</li></ul>The metaverse is the talk of Wall Street, with investors desperate to jump on the trend that many think could be the future of the internet.Jefferies has said it could be the <a href="https://markets.businessinsider.com/news/stocks/metaverse-investing-wall-street-jefferies-land-sales-sandbox-crypto-nfts-2021-12">biggest disruption</a> to human life ever seen. Meanwhile, Ark Invest's Cathie Wood has said it's a <a href="https://markets.businessinsider.com/news/stocks/cathie-wood-metaverse-property-sales-ark-invest-outlook-crypto-gaming-2021-12">multitrillion dollar opportunity</a>.But critics have warned the metaverse is getting wildly overhyped, and companies are applying the tag to any old project that involves gaming, virtual reality or <a href="https://www.businessinsider.com/what-does-nft-mean-crytpo-non-fungible-tokens-art-explained-2021-2">non-fungible tokens</a>. They say any metaverse will be fiendishly difficult to police, and will be one big regulatory nightmare."The metaverse" is a very fuzzy term. Broadly, it refers to virtual worlds where people (using avatars) can play games, work, create and trade things, watch virtual concerts, hang out, and more. Some think there'll be one big metaverse, while others envisage a multitude.Facebook has pivoted to focus on virtual worlds, having <a href="https://www.businessinsider.com/facebook-new-name-meta-rebrand-metaverse-zuckerberg-apps-2021-10">rebranded as Meta</a> in October. Its move sparked a wave of interest among investors worldwide, with Morgan Stanley calling it "the next big theme" in investing.Who wants to live in the metaverse?Elon Musk took a pop at the concept last week, saying he's not sure he buys it. The Tesla CEO told the <a href="https://www.youtube.com/watch?v=jvGnw1sHh9M">Babylon Bee</a> website he doesn't like the idea of having virtual reality goggles "strapped to your head the whole time."Even Nick Clegg — the head of communications for <keyword id="12416504" type="UNKNOWN" weightage="60" keywordseo="meta" source="Orion">Meta</keyword> — called his company's own VR headset "wretched" in a <a href="https://www.youtube.com/watch?v=2Ne7Ljd4f78">Financial Times</a> interview.Those grumbles underline a key question for assessing the metaverse's prospects: Will people really want to spend huge chunks of their time in virtual worlds, especially if it calls for them to wear cumbersome gadgets?Read more: <a href="https://www.businessinsider.com/metaverse-investing-crypto-bear-market-warning-wharton-blockchain-professor-outlook-2021-12?r=US&amp;IR=T">'We are clearly in a bubble right now': A Wharton blockchain and digital assets professor breaks down why the metaverse and web 3.0 are still 'too early to be real'</a>Generation Z, or those aged between 9 and 24, will be the driving force behind adoption of the metaverse, Jefferies' analysts believe.But a Harris Poll found <a href="https://markets.businessinsider.com/news/stocks/metaverse-gen-z-millennials-crypto-land-sales-investing-virtual-worlds-2021-12">only 38% of Gen Zs</a> agree that "the metaverse is the next big thing and will become part of our lives in the next decade.""I think that they're skeptical," Libby Rodney, chief strategy officer at Harris Poll, told Insider. Rodney said Gen Zs have been cooped up inside throughout the pandemic. "One world has been taken away from them, which is the in-real-life world, [and] they want to get back out."And Meta and Microsoft's suggestion of the metaverse as a place of work could meet a cool response, according to <a href="https://www.cics.umass.edu/people/zuckerman-ethan">Ethan Zuckerman</a>, an associate professor at University of Massachusetts Amherst.Their idea of holding work meetings in the form of expressionless avatars is "the sort of thing only a computer scientist could love," he told Insider.It's a regulatory minefieldBut the need to police virtual worlds to protect safety and free speech — and onerous regulation related to this — may turn out to be the biggest stumbling block. Women <a href="https://www.bloomberg.com/opinion/articles/2021-12-15/the-metaverse-via-oculus-is-awkward-if-you-re-a-woman-and-beware-of-griefers">have reported</a> they've been harassed, groped or made to feel uncomfortable in various metaverses. That underlines the conundrum for companies that want to create worlds anyone can freely join. As tech giants have learned, scandals bring political scrutiny.Zuckerman, who <a href="https://www.theatlantic.com/technology/archive/2021/10/facebook-metaverse-was-always-terrible/620546/">built an early metaverse</a> in the 1990s, said keeping virtual worlds safe has always been a challenge.Content creators there may come up with beautiful firework displays that spell out, say, "Happy Birthday". But the academic said it'll only take 15 minutes before others do the same with hate-filled messages.Community moderation and enforcement in the metaverse is "going to be a whole new set of problems," he said.

Wall Street is pumped about the metaverse. But critics say it's massively overhyped and will be a regulatory minefield.

<ul class="summary-list"><li><keyword id="11897862" type="UNKNOWN" weightage="60" keywordseo="elon-musk" source="Orion">Elon Musk</keyword> has taken aim at <keyword id="11121339" type="UNKNOWN" weightage="60" keywordseo="metaverse" source="Orion">metaverse</keyword> hype, poking fun at the idea people will flock to virtual worlds.</li><li>The Tesla boss said he can't envisage anyone strapping a screen to their face all day and not wanting to ever leave.</li><li>Musk told The Babylon Bee he might face criticism for being cynical, but he doesn't see a compelling case yet.</li></ul>Elon Musk has made it clear to metaverse fans he has no time for the <a href="https://markets.businessinsider.com/news/currencies/metaverse-crypto-blockchain-battle-facebook-meta-big-tech-axie-sandbox-2021-12?utm_medium=ingest&amp;utm_source=markets">idea of virtual worlds</a> and living life as an avatar."I don't know if I necessarily buy into this metaverse stuff," the Tesla CEO said Tuesday, in an <a href="https://www.youtube.com/watch?v=jvGnw1sHh9M">interview</a> with satirical site The Babylon Bee. "Although people talk to me a lot about it — <keyword id="12461337" type="UNKNOWN" weightage="60" keywordseo="web3" source="Orion">Web3</keyword>."<a href="https://markets.businessinsider.com/news/currencies/metaverse-nft-tokens-sand-mana-kraken-bitcoin-ether-decentraland-sandbox-2021-12">Hype has been building</a> around the potential of the metaverse, where <a href="https://www.businessinsider.com/virtual-real-estate-decentraland-sandbox-metaverse-nft-digital-assets-crypto-2021-12">plots of land have sold for millions of dollars</a> and <a href="https://markets.businessinsider.com/news/currencies/nike-metaverse-nft-shoe-studio-rtfkt-sneakers-collectibles-crypto-markets-2021-12">big brands like Nike</a> have jumped in.Wall Street has got excited about opportunities in virtual worlds and <a href="https://www.businessinsider.com/what-is-web3-internet-blockchain-cryptocurrency-web1-web2-future-2021-12">Web3</a>, the next generation of the internet that underpins the metaverse. Jefferies' analysts believe it has the potential to <a href="https://markets.businessinsider.com/news/stocks/metaverse-investing-wall-street-jefferies-land-sales-sandbox-crypto-nfts-2021-12">disrupt almost everything in humans' lives</a>. Musk is not convinced, and he poked fun at the suggestion people would willingly wear virtual or augmented reality headsets for big chunks of their day, just to wander a <a href="https://www.businessinsider.com/metaverse-zuckerberg-facebook-virtual-world-leave-people-behind-2021-12">futuristic virtual landscape</a>."Sure, you can put a TV on your nose," he said, mocking the idea this would actually transport a person into a different world.The billionaire noted he grew up being told not to sit too close to a television screen, as it was bad for his eyesight — and living in the metaverse means having to wear AR or VR goggles for long stretches."I'm like ... uh, what? Is that good for you?" he said.Musk added he couldn't envisage anyone strapping a screen to their face all day and not wanting to ever leave. "It gets uncomfortable to have this thing strapped to your head the whole time."<keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">Crypto</keyword>-focused gaming metaverses such as Axie Infinity and The Sandbox — where players can earn or create crypto assets as part of a game — have soared in popularity lately. But Musk believes the experience might be second-best."You could do a video game on your computer console, or whatever, and you can get a first-person game and move rapidly and not get motion sickness," he said. "But if you try to do that with VR goggles, you get motion sickness. It doesn't feel like that's the answer, necessarily.""I think we're far from disappearing into the metaverse. This sounds just kind of buzzword-y."While Musk's latest comments are somewhat playful, the Tesla boss has been on a tear recently about the metaverse. At the weekend, he <a href="https://markets.businessinsider.com/news/currencies/elon-musk-metaverse-is-a-marketing-buzzword-crypto-2021-12">argued Web3 is more marketing hype</a> than reality right now.And in response to bitcoin proponent Jack Dorsey, who this week <a href="https://markets.businessinsider.com/news/currencies/jack-dorsey-elon-musk-metaverse-web3-vc-influence-crypto-users-2021-12">criticized venture capital's influence</a> in the space, Musk asked whether anyone's seen Web3, saying he "can't find it."In the hourlong Babylon Bee interview, Musk acknowledged he might be seen as rejecting the metaverse in the same way many dismissed the internet in its early days of the 1990s."There's some danger that that's the case. But I currently am unable to see a compelling metaverse situation," he said. "I don't get it. Maybe I will, but I don't get it yet."Read More: <a href="https://www.businessinsider.com/altcoins-to-buy-crypto-market-bitcoin-performance-solana-hedge-fund-2021-12">A crypto hedge fund manager and early investor in Solana breaks down why he thinks the next bear market will diverge from the last one — and shares 2 other altcoins that could decouple from bitcoin</a>

Elon Musk pokes fun at the metaverse, trashing the idea that anyone wants to strap a screen to their face the entire day

<ul class="summary-list"><li><keyword id="12452311" type="UNKNOWN" weightage="60" keywordseo="alexis-ohanian" source="Orion">Alexis Ohanian</keyword> said he's <keyword id="12452312" type="UNKNOWN" weightage="60" keywordseo="bullish" source="Orion">bullish</keyword> on the <keyword id="11121339" type="UNKNOWN" weightage="60" keywordseo="metaverse" source="Orion">metaverse</keyword> because of the rise of <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> and Web 3, human engagement with virtual and augmented reality, and the need for online connections.</li><li>Facebook's move to rename itself Meta is a "masterstroke in diversion and distraction," he said.</li></ul>Alexis Ohanian, who cofounded <keyword id="11910046" type="UNKNOWN" weightage="60" keywordseo="reddit" source="Orion">Reddit</keyword> in 2005, said the rise of <keyword id="11895317" type="UNKNOWN" weightage="60" keywordseo="cryptocurrencies" source="Orion">cryptocurrencies</keyword> and the third generation of the web are giving him reason to be bullish on the idea of the "metaverse.""We're talking about sort of all of us being able to go online and occupy digital spaces, much the same way we do physical today," he said on <a href="https://www.cnbc.com/video/2021/10/29/reddit-co-founder-weighs-in-on-facebooks-name-change-to-metaverse.html">CNBC's "Squawk Box"</a> on Friday.Ohanian noted that people already engage in the virtual world somewhat on their phones and computers, using text and images to interact. But he feels engagement via virtual reality goggles or augmented reality - VR or AR - will give rise to a whole new phenomenon with a lot of investment potential."I spent 15 years trying to convince people leading Reddit that people would care about online connection just as much or more than offline connection. But now I think everyone sort of takes it for granted - we fall in love online, we make some of our best friends online, we ape into stocks together online through anonymous communities," he said."That dynamic combined with broadband ubiquity, and now the rise of web 3 and crypto really working, gives people a sense of ownership in this new world. So that the assets you buy in the metaverse are just as real as the assets you buy and own in the offline world."When <a href="https://www.businessinsider.com/facebook-new-name-meta-rebrand-metaverse-zuckerberg-apps-2021-10?r=US&amp;IR=TIR=T">Facebook changed its corporate name to Meta</a> on Thursday, it said it wanted to be "metaverse first." The <a href="https://www.businessinsider.com/what-is-metaverse-facebook-mark-zuckerberg-roblox-animal-crossing-2021-8?r=US&amp;IR=TIR=T">idea of a metaverse</a> has been around for a while in science fiction and gaming, used to refer to a virtual space where real-world people can live a whole other life using VR and AR avatars.Facebook's CEO Mark Zuckerberg <a href="https://www.rev.com/blog/transcripts/meta-facebook-connect-2021-metaverse-event-transcript">predicted</a> "the next platform and medium will be even more immersive, an embodied internet where you are in the experience, not just looking at it." Ohanian said <a href="https://www.businessinsider.com/facebook-new-name-meta-rebrand-metaverse-zuckerberg-apps-2021-10?r=US&amp;IR=TIR=T">Facebook's decision to rebrand itself</a> was "a masterstroke in diversion and distraction" that shouldn't be underestimated."Right now, there is this amazing bottom-up movement to create the metaverse, using what's happening in the crypto community - getting a lot of people building what I think is what most of us hope will become a much more organic type of world, rather than a sort of top-down Facebook-imposed one."The Reddit cofounder suggested there is potential for a funding boom in metaverse-related start-ups."With the amount of money that's flowing into venture right now, startups that can get competitive on the VR front, they can get the funding," he said."But the bigger things here are going to be more foundational software," he added, touching on Facebook's advantage from its virtual-reality headset <a href="https://www.businessinsider.com/facebook-meta-rebrand-kills-oculus-brand-vr-headset-quest-2021-10?r=US&amp;IR=TIR=T">formerly known as Oculus</a>."That's the stuff that's going to get built in the next five years," Ohanian said. "It's actually going to make it worth it for you to spend time, because right now the competition is watching Netflix, playing Fornite, scrolling through your phone.""We're not going to all wake up in the metaverse tomorrow."Read More: <a href="https://www.businessinsider.com/facebook-share-outlook-bull-case-metaverse-innovation-stocks-to-buy-2021-10">A growth-focused fund manager lays out why Facebook's metaverse pivot will send shares soaring - and details 8 other stocks investors should buy for exposure to cutting-edge innovation</a>

Reddit cofounder Alexis Ohanian shares why he's bullish on the metaverse - and calls Facebook's rebrand a masterstroke in distraction

<ul class="summary-list"><li>Venture capitalist <keyword id="12038071" type="UNKNOWN" weightage="60" keywordseo="matthew-ball" source="Orion">Matthew Ball</keyword> discussed the "<keyword id="11121339" type="UNKNOWN" weightage="60" keywordseo="metaverse" source="Orion">metaverse</keyword>" and the companies shaping it.</li><li><keyword id="11894021" type="UNKNOWN" weightage="60" keywordseo="apple" source="Orion">Apple</keyword> and <keyword id="11892960" type="UNKNOWN" weightage="60" keywordseo="facebook" source="Orion">Facebook</keyword> are well placed to capitalize on the next generation of the internet, he said.</li><li>Ball discussed the potential roles of NFTs and crypto, and how virtual reality can transform education.</li></ul>Venture capitalist Matthew Ball has shot to fame for his grand prediction of a "metaverse" - a "<a href="https://www.matthewball.vc/the-metaverse-primer">quasi-successor state to the mobile internet</a>" that brings together hardware, content, payments, networking, and other technologies in a virtual space.Ball laid out his vision, why he expects video games and cryptocurrencies to play a major role, and how some of the world's largest technology companies are shaping the metaverse in a recent <a href="https://www.realvision.com/shows/the-exponential-age/videos/matthew-ball-the-metaverse-as-a-generational-evolution-of-the-internet?source_collection=9e27872b82a041029b6cca8921ec53bf">RealVision interview</a>.The former head of strategy at <keyword id="11893181" type="UNKNOWN" weightage="60" keywordseo="amazon" source="Orion">Amazon</keyword> Studios, who now serves as the managing partner of EpyllionCo and a venture partner at Makers Fund, also discussed the hype around non-fungible tokens (NFTs), and outlined how virtual reality can revolutionize education.<h2>Here are Ball's 14 best quotes from the interview, lightly edited and condensed for clarity:</h2>1. "The metaverse is best understood as the shift of computing and interaction from a device in your pocket into a virtual simulation."2. "No one really expected the next generation of the internet would come from mobile gaming, and yet here we are."3. "Games and game engines are starting to move to the forefront of the metaverse. I would extend this to any of the major crypto projects. Bored Apes, CryptoPunks, Axie Infinity, everything that's happening at Dapper Labs - it's very clear that games are the centerpiece here."4. "Games companies have the tools for complex simulation and rendering, they've designed games to be fun, and they're incredibly powerful at incentivization, another area in which crypto has shown itself to be very effective." - explaining why the makers of games such as Fortnite and Roblox are leading the way in building metaverses.5. "Virtual worlds have been destigmatized as a result of COVID in a truly unique way. COVID has legitimized time in virtual worlds in a way that almost no other event could have."6. "The metaverse is not just a 'new Americas' in that it's more real estate. It's a new canvas for individuals. It's more like discovering the solar system, the galaxy."Read more: <a href="https://www.businessinsider.com/stock-picks-multitrillion-metaverse-opportunity-venture-capital-investor-matthew-ball-2021-8?r=US&amp;IR=TIR=T">Famed venture capital investor Matthew Ball breaks down why big-tech corporations are racing to transform themselves into metaverse companies - and shares 6 stocks to play the opportunity that could 'drive multi-trillion dollars of value'</a>7. "I don't want to argue that our future is running around like a T-rex crossed with a banana shooting guns at one another in this Wall-E dystopian utopia. It's a new place where we can build in a way that is tethered to no reality and no physics that we've ever had before."8. "The memeification of NFTs has elements of speculation, there are going to be elements that lead nowhere. And yet it's very clear that it's pioneering structural change in our economy."9. "As the dominant access path to the internet, they have extraordinary hard, soft, and accidental power. The policies they enforce, the takes they collect, the technologies they allow, the standards and protocols they support or do not, fundamentally shape the development of the entire rest of the metaverse ecosystem." - emphasizing the influence that <keyword id="11894335" type="UNKNOWN" weightage="60" keywordseo="big-tech" source="Orion">Big Tech</keyword> companies have in molding the metaverse.10. "Apple looks at this as an area where its existing advantages - plus its ability to adversely affect everyone who wants to build off its devices, and to have a cheaper, smaller, and probably better AR device - positions it as the best player to participate in any virtual, extended, or augmented-reality future."11. "Facebook, as the dominant identity platform globally, plus the dominant social graph, seems incredibly well positioned. It's truly difficult to express the significance of its extraordinary investments in VR. Mark Zuckerberg basically said - in a brilliant example of founder conviction, ability, resources, and commitment - 'You can all stop investing, I'm not going to.'"12. "Google is not unaware of what this future looks like. It has invested extensively in dark fiber, in virtualization, in cloud computing, in extended-reality devices. I wouldn't say that a clear strategy exists today, or that it has the most intuitive set of assets compared to a Facebook, Apple, or even Amazon. But it's doubtless going to be working towards this."13. "If we've learned anything from 40 years of the internet, it's that understanding the ricochet consequences of a technological innovation is really hard. And yet, if the baseline purpose is data collection, or ads, or selling things, or controlling your billing relationships, the ricochets are probably not favorable."14. "We're no longer talking about baking-soda-and-vinegar volcanoes, we are talking about a literal volcano, one that you can interrogate, that you can agitate, that you can understand at a microscopic level. Everything we thought of as the Magic School Bus starts to become real." - predicting virtual reality will allow a single teacher to instruct millions of students worldwide using tools unavailable in a physical classroom.

Venture capitalist Matthew Ball explains his 'metaverse' vision, touts Apple and Facebook, and trumpets crypto in a new interview. Here are the 14 best quotes.

<keyword id="874458" type="COMPANY" weightage="100" keywordseo="Xiaomi">Xiaomi</keyword> announced its day one sales revenue of the <a href="http://www.businessinsider.in/Xiaomi-unveils-its-first-Mi-Home-in-India-plans-to-open-100-more-in-next-2-years/articleshow/58627564.cms" data-type="tilCustomLink">newly launched Mi Home</a> and it's a whopping Rs. 5 crore within 12 hours of the opening day. Xiaomi launched its first Mi Home store in India on 20th of May and the company certainly managed to make a mark in the Indian offline smartphone industry. Over 10,000 customers showed up on the opening day at Mi Home store to purchase Xiaomi phones, ecosystem products, and accessories. Some apparently flew from different part s of the country too. Manu Jain, Vice President, Xiaomi and Managing Director, <keyword id="2210169" type="UNKNOWN" weightage="20" keywordseo="Xiaomi-India">Xiaomi India</keyword> said “It was an extremely emotional day for all of us at the opening of our first Mi Home store. I am humbled by the unprecedented outpouring of love from all our Mi Fans who started lining up from 8 AM in the morning.” Most of the revenue from the day one of the new store was generated from their <a href="http://www.businessinsider.in/After-selling-over-4-million-Redmi-3S-Xiaomi-brings-in-the-Redmi-4-in-India-and-hopes-to-break-its-own-record/articleshow/58698751.cms" data-type="tilCustomLink">top selling Redmi phones like Redmi 4</a>, Redmi 4A, Redmi Note 4. It also included the sales of audio accessories, Mi VR Play, <keyword id="3578724" type="UNKNOWN" weightage="20" keywordseo="Mi-air-purifier">Mi Air Purifier</keyword> 2, new launched Mi Router 3C and Mi Band 2. Redmi Note 4 has also dethroned the <keyword id="10591" type="CITY" weightage="20" keywordseo="Samsung">Samsung</keyword> J2 to become the highest-shipped smartphone in Q1 2017 as per the latest report from analyst firm IDC. Most recently announced Redmi 4 was first available at the Mi Home and will be available on <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> from 23rd of May from 12PM. India is the fifth market that Mi Home has been <a href="http://www.businessinsider.in/As-Xiaomi-gets-all-set-to-bring-in-its-own-little-world-in-India-heres-a-look-at-what-a-Mi-Home-in-China-looks-like/articleshow/58595932.cms" data-type="tilCustomLink">launched in after markets such as China</a>, Hong Kong and the store features Xiaomi’s range of smartphones, power banks, headphones, fitness bands, air purifiers as well as other ecosystem products. Xiaomi plans to open 100 Mi Home stores across India in the next two years. Upcoming Mi Home stores will be located in other metro cities such as Delhi, Mumbai, Hyderabad and Chennai. Select Mi Home stores will also have an additional zone where fans can experience the larger Xiaomi portfolio.

With Mi Home, Xiaomi rakes in revenue of Rs. 5 crore in first 12 hours of opening the store

Xiaomi has launched its first virtual reality headset, the Mi VR Play.The Chinese tech firm describes the device as "an entry-level product that seeks to bring the VR experience to a much wider audience." In other words, it's much more Google Cardboard than&#xa0;<a href="http://www.techinsider.io/oculus-rift-review-2016-3" target="_blank">Oculus Rift</a>, or even <a href="http://www.businessinsider.com/samsung-gear-vr-review-2016-1" target="_blank">Samsung's Oculus-supported Gear VR</a>.<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div>Xiaomi says the Mi VR Play works with smartphones ranging from 4.7 to 5.7 inches. It's composed of a Lycra fabric material, and uses a zip-up compartment to hold your phone in place.Xiaomi also wants to set the headset apart by selling it in a handful of colors in designs. Those go from basic black, to denim, to more flamboyant floral and leopard prints.Alongside the hardware is a Mi VR app, an "open platform" that currently has content from Conde Nast and YouKu (which is effectively China's version of YouTube). Think&#xa0;more "video clips" than "full-scale games."&#xa0;Xiaomi also tells us the&#xa0;headset will not be compatible with <a href="http://www.techinsider.io/google-announces-daydream-vr-platform-2016-5" target="_blank">Google's new Daydream platform</a>.As is often the case with Xiaomi, the headset is limited to China at the moment, and is available for cheap. It isn't fully available though - currently, Xiaomi's only giving the Mi VR Play to a few thousand beta testers. Those testers can grab it for 1 RMB, which translates to about $0.15.<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div>The headset will likely cost a little more than that when it arrives en masse, but Xiaomi&#xa0;isn't&#xa0;giving specifics for the time being.&#xa0;Likewise, a Xiaomi&#xa0;rep says the company has no information about overseas availability just yet.Xiaomi, once dubbed the 'Apple of China' by some onlookers, has&#xa0;<a href="http://www.businessinsider.com/xiaomis-revenues-flat-in-2015-report-2016-5?_ga=1.142233714.1555795297.1438087755" target="_blank">fallen short of its ambitious expectations</a>&#xa0;in recent months, but has branched out into a number of new markets in that time. After building its name on the back of affordable smartphones, it's gone everywhere from&#xa0;<a href="http://www.techinsider.io/xiaomi-mi-notebook-air-announced-macbook-air-rival-2016-7" target="_blank">laptops</a>&#xa0;and&#xa0;<a href="http://www.techinsider.io/xiaomi-unveils-streaming-media-device-for-the-us-2016-5" target="_blank">media streamers</a>&#xa0;to&#xa0;<a href="http://www.businessinsider.com/xiaomi-announces-electric-bike-2016-6?_ga=1.179384548.1555795297.1438087755" target="_blank">electric bicycles</a>&#xa0;and&#xa0;<a href="http://www.techinsider.io/xiaomi-rice-cooker-2016-3" target="_blank">rice cookers</a>.Now, it's hoping to bring its usual aggressive pricing to VR. That could be trickier here, given that cheap VR is typically very basic, but there does appear to be interest in the Mi VR Play either way - Xiaomi says its beta program received a million registrants in eight hours earlier this month. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/apple-iphone-7-boring-different-from-6s-2016-5">Sorry Apple fans - the iPhone 7 is going to be boring</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="p3NGxtMzE6KnPx3Gi2rooC517XpgDrFR" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

The 'Apple of China' just launched its first VR headset - and it comes in leopard print

We are not surprised anymore by the variety of products Chinese smartphone maker <keyword id="874458" type="COMPANY" weightage="100" keywordseo="Xiaomi">Xiaomi</keyword> is bringing in India. Today the company announced announced that it is making its first foray into virtual reality (VR) in India with Mi VR Play, its VR headset priced at INR 999. Apart from the VR headset, Xiaomi also announced the launch of its live streaming app Mi Live. 
 Both the announcements were made at a unique event created by Xiaomi called <keyword id="3948700" type="UNKNOWN" weightage="20" keywordseo="mi-pop">Mi Pop</keyword> where the company brings Mi Fans from across the country for a day to engage with Xiaomi executives. This was the first time Mi Pop took place in India however the company has been organising Mi Pop events since 2012. 
 
Xiaomi is known for coming up with high spec products at competitive pricing, a mantra that has worked wonders for the company in India. After the big launch of it non-smartphone product, <a href="http://www.businessinsider.in/After-China-Xiaomi-sees-huge-market-for-Air-Purifier-in-India-launches-Mi-Air-Purifier-2/articleshow/54447093.cms">Mi Air Purifier2</a>, Xiaomi is all set with it's VR headset. Mi VR Play is an entry-level product that seeks to bring the VR experience to a much wider audience. Mi VR Play is different from the VR products available out there as it is wrapped in Lycra with two-way zipper for comfort, its built to provide a secure grip on a range of 4.7- to 5.7-inch smartphones. The device is also certified to work with <keyword id="6355629" type="CITY" weightage="20" keywordseo="Google">Google</keyword> Cardboard apps. Starting 21 December it will be available on Mi.com and offline. 
 
By bringing the VR headset at Rs. 999, Mi is opening up new way for users to experience their smartphones in a different way, we’ll have to see if the experience is worth it.

Xiaomi forays into Virtual Reality in India while effectively bringing down the pricing in the segment

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<ul><li><keyword id="6354775" type="TECHNOLOGY" weightage="20" keywordseo="Smartphones">Smartphones</keyword> are evolving at a rapid pace. Changes, big and small, are affecting the way people communicate daily.</li><li><keyword id="3660030" type="PERSON" weightage="20" keywordseo="5g-connectivity">5G connectivity</keyword> will have a big role to play in how smartphone usage evolves over the next few years.</li><li>We may not see anymore pop-up selfie cameras in the near future but there will definitely be more cameras and more megapixels.</li></ul>The next wave of smartphones have some new and innovative features in store, especially with the onset of 5G network across the world. In 2019, trends like the pop-selfie camera or gaming smartphones didn’t really take off in the mainstream but did well within their niche audience. Other trends like gaming capacity smartphone chipsets, additional cameras and the megapixel war were appreciated by most. Here five key trends that you can expect in <keyword id="982948" type="PERSON" weightage="20" keywordseo="future-smartphones">future smartphones</keyword>: 1. 5G connectivity With most countries around the world gearing up to set up their <a href="https://www.businessinsider.in/india-is-as-prepared-as-us-or-australia-to-welcome-the-5g-era/articleshow/71499916.cms">5G networks</a>, smartphone makers are also preparing by launching smartphones with 5G capabilities. As of now, 5G capable phones are rare and expensive. They also can’t be used to their full potential since 5G networks are <a href="https://www.businessinsider.in/here-are-the-us-cities-we-know-will-have-5g-networks-lit-up-for-samsungs-new-galaxy-s10-5g-phone/articleshow/68104683.cms">yet to fully roll out</a>. A few companies have taken the leap and launched their 5G smartphones like the — Oppo Reno 5G and the <a href="https://www.businessinsider.in/You-can-now-buy-Samsungs-first-5G-smartphone-but-its-main-selling-point-will-be-useless-until-more-cities-get-5G/articleshow/69363399.cms">Samsung Galaxy S10 5G</a> — but their availability is limited to their home markets. Other 5G phones like the Huawei Mate 20 X, Xiaomi Mi Mix 3 5G and the Motorola Moto Z4 too have limited reach. 5G will mean faster network connectivity and lower latency for smartphone users. 2. Foldable phones Foldable phones aren’t far from being a reality with every brand working on their own prototype. In fact, Samsung’s already launched its <a href="https://www.businessinsider.in/the-samsung-galaxy-fold-has-a-new-release-date-heres-how-to-get-one/articleshow/71104621.cms">Galaxy Fold</a> and Huawei recently released the <a href="https://www.businessinsider.in/samsung-and-huawei-are-both-launching-foldable-smartphones-this-year-heres-how-they-compare/amp_articleshow/68159844.cms">Mate X</a>. Google and Apple will <a href="https://www.businessinsider.in/samsung-google-apple-rumours-galaxy-fold-screen-technology/articleshow/68263838.cms">reportedly</a> use Samsung’s foldable screen device to launch their own versions. India’s first foldable phone might be a Xiaomi device — the Mi Fold or the Mi Flex. The phone’s launch was expected this year, but the company is yet to announce any plans. 3. More cameras, more megapixels and more depth It’s the year of the cameras as smartphone brands hone in on the triple camera and quad camera design. The Samsung Galaxy Fold boasts of six cameras while Nokia has already launched their ‘pentacam’ PureView smartphone with five cameras. It’s not just the number of cameras that are increasing but also the megapixels that they can capture. Sony’s IMX 586 camera sensor was a boon allowing cameras to shoot up to 48 megapixels. Samsung’s ISOCELL GW1 sensor takes that same technology — the quad pixel array — forward to deliver a maximum output of 64 megapixels. Upcoming Xiaomi and Samsung smartphones will have the capability to shoot more than 100 megapixels. Another unique feature that we might see on phone’s more often is 3D depth sensors for cameras. “It uses the known speed of light to measure distance, effectively counting the amount of time it takes for a reflected beam of light to return to the camera sensor,” according to Samsung. The sensor is already available on Samsung Galaxy S10 5G. 4. More power and better graphics Smartphone users want more power on their phones. A few are even buying ‘gaming’ smartphones, even though they don’t game, for the additional processing capacity. Companies are also integrating Qualcomm’s ‘gaming’ chipset, the Snapdragon 855 Plus, into their flagship mobile phones. The OnePlus 7T and 7T Pro, Vivo Nex 3, Xiaomi Mi 9 Pro and Xiaomi Redmi K20 Pro are some devices that aren’t necessarily marketing themselves as gaming smartphones but come equipped with the new chipset. More phones will employ more powerful chipsets and their accompanying GPU’s as games become more graphic intensive but they may not necessarily launch gaming smartphones. 5. Augmented reality and virtual reality (AR and VR) There’s already a lot being done to bring augmented reality (AR) and virtual reality (VR) technology to smartphones. Google’s Pixel 3A deployed some of ARCore’s technology — Google’s platform to build AR solutions — to bring users AR maps. It allows directions to pop up as a part of the scene being captured by the camera lens along with a distance countdown. Apple has plans to launch the AR-enabled ‘Apple Glasses’. The company has been heavily investing in ARKit to develop AR use cases for mobile devices and Apple’s Glasses would be positioned as an iPhone accessory. The technology is already available, the question is how creatively can developers apply it. See also: <a href="https://www.businessinsider.in/miscellaneous/the-iphone-11-is-missing-6-modern-smartphone-features-and-it-feels-like-a-placeholder-for-something-better-coming-later/slidelist/71137168.cms">The iPhone 11 Is Missing 6 Modern Smartphone Features, And It Feels Like A Placeholder For Something Better Coming Later</a> <a href="https://www.businessinsider.in/tech/news/india-is-as-prepared-as-us-or-australia-to-welcome-the-5g-era/articleshow/71499916.cms">India is as prepared as US or Australia to welcome the 5G era</a> <a href="https://www.businessinsider.in/tech/mobile/news/motorola-one-macro-targets-users-who-like-macro-photography/articleshow/71506790.cms">Motorola’s new smartphone targets users with flair for macro photography</a>

You Searched For "Mi VR Play" and got 12 results

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