The Nike Dunk Genesis Cryptokicks sneakers look like a million bucks. Fortunately, you do not have to pay so much for a pair; you can get them for about $2,500, though a rare pair can go up to $80,000. However, you will not be able to wear them in this world. The Cryptokicks exist only in the virtual world, and they can be bought only as non-fungible tokens (NFT).
Nike is among the many companies that believe that metaverse is the future. While Big Tech has been investing heavily in building and expanding the virtual reality space, others—from your grocery seller to Wall Street investments banks—are vying for a share of the future pie. And this has opened up a huge business opportunity for the Indian IT sector. For instance, at the peak of the pandemic, a global telecom giant sought the help of Tata Consultancy Services, India’s largest IT company, to revive its dipping sales. TCS proposed a 3D virtual showroom for the telecom company’s products. Anyone could access it on a smartphone, and, with the help of web-based augmented reality, she could even hold mobile phone models in her hands before choosing one. It worked; the telecom company showed significant improvement in sales.
Infosys and Tech Mahindra, the second and fifth largest IT companies in the country, respectively, and a whole lot of startups are also gearing up to cash in on the opportunity. Research firm Gartner predicts that one in four people will be spending at least an hour a day in the metaverse by 2026. The market is predicted to reach $814 billion by 2028. Last year, nine of every ten global organisations invested in technologies to create virtual environments, and most of them are planning to invest further.
Diese Geschichte stammt aus der June 05, 2022-Ausgabe von THE WEEK.
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Diese Geschichte stammt aus der June 05, 2022-Ausgabe von THE WEEK.
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Ram temple not an issue in south
Much has been said this election season about the alleged north-south divide.
Haute and sweaty
In Mumbai, where I live and work, there is a severe heatwave going on. The highest temperature this month has been 40 degrees, sweltering and humid for the coastal city.
MOVE AWAY MARY!
In many parts of the world,unique names are becoming popular
CALL OF THE WILD
Tejas Thackeray, the younger son of former Maharashtra chief minister Uddhav Thackeray, shares his passion for wildlife conservation and photography
CEPA and beyond
Bilateral trade between the UAE and India has grown almost 16 per cent year-on-year, touching $84.5 billion
Brash and raw
When I chanced upon Raj Narain, who humbled Indira Gandhi
Lone voice of dissent
“I am keen to invite Parakala [Prabhakar] to Mumbai… What do you think? Do you know him?” A friend asked. No, I don’t know the man. And no, it is not a good idea to invite him, unless you want to invite trouble, I replied.
Modi and the Muslim syndrome
I have long been intrigued by the prime minister’s desire to hug every passing sheikh and sultan and his contrasting contempt for the ordinary Indian Muslim.
Assam Rifles not trained to guard borders; need separate force for Manipur border
Imphal is blanketed in darkness. The sun has set a little too soon in the valley, but N. Biren Singh is yet to call it a day.
SPOTLIGHT ON THE SENTINELS
Manipur government wants the Assam Rifles replaced, but the Union home ministry is focused on upgrading infrastructure and connectivity before deciding who guards the state