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Facebook Parent Meta Is Working on a Wallet for the Metaverse

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What’s happening

Meta is working on a digital wallet for the metaverse, virtual worlds where people will be able to work, play and socialize.

Why it matters

The move shows how e-commerce is part of how Meta plans to make money from its metaverse ambitions.

Meta CEO Mark Zuckerberg said Wednesday the company is working on a digital wallet for the metaverse that will allow people to manage their digital items, identity and payments.

“Ideally, you should be able to sign into any metaverse experience and everything you’ve bought should be right there,” he said in a Facebook post. “There’s a long way to get there, but this kind of interoperability will deliver much better experiences for people and larger opportunities for creators.”


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Meta, formerly known as Facebook, isn’t the only company staking its future on the metaverse — virtual worlds where people work, play and socialize. The creation of the metaverse will also provide an opportunity for people to buy and sell digital goods such as clothing, art, music and experiences. In April, Meta said it was testing new ways for creators to make money in its social VR experience Horizon Worlds but reportedly planned to take a cut of up to 47.5% on the sales of these digital goods. This month, Meta also unveiled a digital store on Facebook, Instagram, and Messenger where people can buy digital clothes for their avatars from luxury brands such as Balenciaga, Prada and Thom Browne.

Zuckerberg didn’t say in his post if users will have to pay to use this digital wallet in the metaverse or when the company plans to release this product, but he added this will benefit creators because “the more places you can easily use your digital goods, the more you’ll value them.”

The tech mogul also appeared on CNBC’s Mad Money with Jim Cramer on Wednesday and talked about a variety of topics, including the company’s e-commerce ambitions in the metaverse.

Zuckerberg told CNBC the company hopes to get to around a billion people in the metaverse “doing hundreds of dollars of commerce, each buying digital goods, digital content,” and “different things to express themselves.” He’s said in 2017 he wants to get 1 billion people in virtual reality. The metaverse is much broader than VR, encompassing other technology including augmented reality where digital objects are overlaid onto the physical world.

Meta hasn’t made a profit from its metaverse business. In the first three months of this year, Meta’s metaverse business Reality Labs lost $2.96 billion, Meta said in an earnings report



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iClick Interactive Releases Metaverse Livestreaming Mobile App Arohar

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Brings livestreaming to the metaverse for the first time

HONG KONG, June 27, 2022 /PRNewswire/ — iClick Interactive Asia Group Limited (“iClick” or the “Company”) (NASDAQ: ICLK), a leading enterprise and marketing cloud platform in China that empowers worldwide brands with full-stack consumer lifecycle solutions, today announced the launch of Arohar, its proprietary live streaming enhancement mobile application that integrates AI, AR and interactive 3D avatars to bring a brand new metaverse-based live streaming experience to users. iClick’s flagship product, Arohar, for KOL promotion in overseas markets represents a new SaaS paradigm for live streaming.

(PRNewsfoto/iClick Interactive Asia Group Limited)

(PRNewsfoto/iClick Interactive Asia Group Limited)

According to the global consulting firm PricewaterhouseCoopers (“PwC”), the metaverse-related market is estimated to reach USD467.4 billion by 2025. Featuring immersive virtual backgrounds and effects, and the ability to create real-time facial animation avatars through AR technology, Arohar’s all-in-one livestreaming solution marks iClick’s first step into the metaverse market. Arohar currently enables users to access Meta and other overseas metaverse platforms, and future upgrades will help accelerate the development of the metaverse ecosystem and promote the transformation of the live streaming industry.

Arohar brings exciting new features to livestreaming including 3D avatars with AR facial micro-expression tracking and real-time facial animation and immersive virtual backgrounds through the AI image processing technology. Arohar is able to instantly detect the physical features of the live streamer and generate a clear virtual likeness and background without a green screen. Through these innovations, Arohar delivers a cutting-edge metaverse livestreaming experience that allows users to enjoy eight key features:

  • Access to high quality virtual backgrounds;

  • Create real-time animated 3D avatars;

  • Enhance facial features with beauty and makeup filters;

  • Use multi-scene switching to ensure smooth and attractive live streaming;

  • Remote control of live streaming via App or Bluetooth;

  • Share mobile game streams with friends and fans seamlessly via screen sharing;

  • Enhance live streams through built-in massive live streaming resources;

  • Support live streaming to multiple social media platforms such as Facebook Live, YouTube, Twitch, Twitter, Instagram and more.

Frankie Ho, iClick’s President of International Business said, “We are very excited to announce the overseas launch of Arohar, a breakthrough solution that empowers metaverse livestreaming under our ‘SaaS+X’ business model. Arohar will be a key driver in our overseas market strategy as we focus on innovation to drive robust growth. iClick will continue to seek business opportunities in the metaverse while further accelerating the development of our SaaS product matrix to address brands’ challenges in the face of rapidly evolving business models and market.”

Arohar is now available on Google Play Store and Apple App Store in North America. For more information, please visit arohar.app.

About iClick Interactive Asia Group Limited

Founded in 2009, iClick Interactive Asia Group Limited (NASDAQ: ICLK) is a leading enterprise and marketing cloud platform in China. iClick’s mission is to empower worldwide brands to unlock the enormous market potential of smart retail. With its leading proprietary technologies, iClick’s full suite of data-driven solutions helps brands drive significant business growth and profitability throughout the full consumer lifecycle. Headquartered in Hong Kong, iClick currently operates in eleven locations across Asia and Europe. For more information, please visit https://ir.i-click.com.

Safe Harbor Statement

This announcement contains forward-looking statements, including those related to the Company’s business strategies, operations and financial performance. These statements constitute “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Such statements are based upon management’s current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s fluctuations in growth; its success in implementing its mobile and new retail strategies, including extending its solutions beyond its core online marketing business; its success in structuring a CRM & Marketing Cloud platform; relative percentage of its gross billing recognized as revenue under the gross and net models; its ability to retain existing clients or attract new ones; its ability to retain content distribution channels and negotiate favourable contractual terms; market competition, including from independent online marketing technology platforms as well as large and well-established internet companies; market acceptance of online marketing technology solutions and enterprise solutions; litigation and negative publicity surroundings China -based companies listed in the U.S.; effectiveness of its algorithms and data engines; its ability to collect and use data from various sources; its ability to comply with existing or future laws and regulations related to data protection or data security; ability to integrate and realize synergies from acquisitions, investments or strategic partnership; the duration of the COVID-19 outbreak, including the emergence of COVID variants, and its potential impact on the Company’s business and financial performance; fluctuations in foreign exchange rates; general economic conditions in China and other jurisdictions where the Company operates; and the regulatory landscape in China and other jurisdictions where the Company operates. Further information regarding these and other risks is included in the Company’s annual report on Form 20-F and other filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.

For investor and media inquiries, please contact:

iClick Interactive Asia Group Limited
E-mail: press@i-click.com

The Foote Group
Philip Lisio
E-mail: phil@thefootegroup.com

Cision

Cision

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SOURCE iClick Interactive Asia Group Limited



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Infosec leaders decode new workspace opportunities in Metaverse – Back End News

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True to its vision of ensuring cybersecurity in the Philippines, the Information Security Officers Group (ISOG) conducted the second installment of its 2022 virtual Metaverse forum series on June 23.

Anchored on the overall theme of “Traversing Beyond the Realm of Cyberspace.” the seconnd Metaverse forum focused on the discussions of the adjustment of each enterprise in the new norm and the measures being done in the integration of the metaverse in their operations. The virtual forum presented diverse and radical insights and significant business opportunities and solutions from great minds.

“This forum underscores our initiative and effort to design, create, and sustain a unified solution in the undertaking of Metaverse in the banking industry. We continue to collaborate with our partner institutions and stakeholders to address concerns and promote safe and effective use of the metaverse for business,” said Archie Tolentino, ISOG President and Landbank of the Philippines’ Chief Information Technology Security Officer.

ISOG forum zooms in on securing banking industry in Metaverse
ISOG to hold 2022 Metaverse forum, Cybersecurity Excellence Awards

Joining this virtual forum are field experts, decision-makers, and cyber leaders including banking Metaverse pioneer in the Philippines, Union Bank Senior Executive Vice President, Chief Technology and Operations Officer, and Chief Transformation Officer Henry Rhoel Aguda.

Zero Trust

Cybersecurity professionals also gained insights into the Data Reliability & Accessibility within the Security Framework delivered by Arnie Alvarez, the Chief Technology Officer and IT Director of the Enterprise Business Group of Huawei Technologies Philippines. They also gained perspectives on the Bangko Sentral ng Pilipinas (BSP) ‘Financial Services Cyber Resilience Plan presented by Mhel Plabasan, chief person for the agency’s supervision of technology and cybersecurity risk including emerging technologies.

Forum delegates have imparted a knowledge of the concept and implications of the Metaverse and the significance of artificial intelligence in ensuring cyber security through the presentation of Tony Jarvis, Director of Enterprise Security (APJ) of Darktrace. Meanwhile, Palo Alto Network’s Field Chief Security Officer Ian Lim tackled Zero Trust as a guiding principle in securing an organization’s journey into the Metaverse. More exciting Metaverse topics were presented by Exceture’s Chief Information Security Officer and Head of Information Technology Consulting & Software Engineering Mario Demarillas, and BlueVoyant’s Chief Operating Officer Tal Blaustein.

Forum delegates were also engaged in a comprehensive panel discussion entitled “Decoding the New Workspace in the Metaverse”. It was an avenue where industry experts addressed concerns and queries about the virtual presentations. Joining the first panel were Unionbank’s Henry Aguda, Darktrace’s Tony Jarvis, BSP’s Mhel Plabasan, and Huawei Technologies Philippines’ Arnie Alvarez. The second panel discussion with the topic “The Metaverse: Revolutionizing Opportunities” was headlined by Palo Alto’s Ian Lim and Exceture’s Mario Demarillas. Both panels were moderated by SQrity Consulting CEO & President, Ricson Singson Que.

Two more forums

“To make the most of the opportunities in the Metaverse without sacrificing any aspect of the business, it is crucial for information security professionals to be equipped with the right knowledge of this new digital ecosystem. Rest assured that ISOG will support them as they continue protecting cyberspace,” said ISOG’s Vice President Chito Jacinto.

The second installment of the virtual cybersecurity forum was supported by the Bangko Sentral ng Pilipinas, Bankers Association of the Philippines, National Privacy Commission, and the Department of Information and Communications Technology. The last two virtual forums of this series are slated for July 21 and Sep. 1.

Since 2015, ISOG has been organizing programs and events to strengthen cybersecurity awareness and secure network infrastructure in the Philippines. For more details about ISOG and its campaigns, visit ISOG’s official website at http://www.isog-org.ph and socials at LinkedIn: ISOG (Information Security Officers Group), Facebook: ISOGPH, and YouTube Channel: ISOG SUMMIT.



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CMO, Telecom News, ET Telecom

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 (Representative image, source: iStock)
(Representative image, source: iStock)

MUMBAI: Vodafone Idea (Vi) is evaluating opportunities on the Metaverse to enhance customer experience, a senior executive said, as the telecom operator tries to stem user drift and pushes to regain subscriber market share.

Vi is “keenly following this emerging technology to see how it evolves,” said Avneesh Khosla, chief marketing officer, Vodafone Idea. “We believe it has the potential to deeply engage with consumers and enhance their digital experience,” Khosla told ET.

Metaverse will enable deep engagement in genres such as gaming, entertainment, retail, education, e-commerce, and social networking, he added.

However, Khosla pointed out that to enable immersive experiences, it was “imperative” that the devices ecosystem achieve scale and economies quickly to reach critical mass.

Rival Bharti Airtel became the first operator in India to foray into the Metaverse through its Xstream multiplex.

Analysts said telcos will look at Metaverse differently for their business-to-consumer (B2C) and business-to-business (B2B) segments.

For B2C, the platform will eventually culminate in faster adoption of the telcos’ 5G services, which are expected to be rolled out by the end of this year.

Prashant Singhal, global TMT emerging markets leader at EY, said: “Right now, no one (retail customer) is asking for 5G. But once you offer experiences enhanced by faster speeds, low latency and more bandwidth, the consumer will start using it. That’s what we saw happen with 4G as well.”

For the B2B segment, which is expected to drive revenues in the near term once 5G rolls out, analysts expect telcos to team up with stakeholders to develop use cases for the Metaverse.

Video conferencing is one of the most logical applications integrating Metaverse into the enterprise offerings of telcos.

Globally, telcos have used the Metaverse to solve various problems.For example, Japanese telecoms giant NTT has created a “digital twin” of the Tour de France to give operations staff real-time visibility of race data to ensure the continuity and safety of the cycle race and to provide insightful visualisations and immersive fan experiences.

A digital twin is a digital replica of a physical entity connected seamlessly to enable transfer of real-time data. The concept can be applied to smart factories to monitor machinery, for inventory management at warehouses, and even for surgery preparation and planning, experts said.





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